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Wednesday
Apr202016

Financial Institutions . . . In the News

  • February marks lowest unemployment rate in 15 years at 3.6 percent. (Sun Journal 3.25.2016)
  • Fake paychecks are being cashed in Franklin, Androscoggin, and Oxford Counties leaving businesses with financial losses.  (WGME 3.28.2016)
  • North American Securities Administrators Association’s (NASAA) program Senior$afe, a program to identify and report financial elder abuse, will be available to its members in April. (Investment News 3.30.2016)
  • Banks facing unsteady time between bad energy loans and new FDIC regulations.  (PPH 4.14.2016)
Wednesday
Mar232016

Financial Institutions . . . In the News

  • Millinocket Key Bank, branch consolidates with Lincoln branch.  (BDN 2.8.2016)
  • Some businesses struggling with conversion to chip credit cards.  (Central Maine 2.13.2016)
  • Norway Savings Bank celebrated milestone – 150th Anniversary.  (King 2.17.2016)
  • Maine is leading the way with home sales and rise in median prices.  (Mainebiz 2.24.2016)
  • Eastern Maine bankers report record revenue in 2015 validating stronger consumer confidence.  (The Ellsworth American 3.1.2016)
  • Long court process hinders the number of Maine mortgages in the foreclosure system keeping Maine foreclosure numbers among the highest in the nation.  (PPH 3.18.2016)
  • Gorham Savings Bank introduces state’s first interactive teller machine and entwine other technologies into routine services to its customers.  (Mainebiz 3.22.2016)
  • Home sales in Maine go up but median prices fell over 4%.  (PPH 3.21.2016)
Friday
Mar182016

Atlantic Trust LLC to Form New Nondepository Trust Company in Maine

Maine will soon be getting a new nondepository trust company, Atlantic Trust, LLC.

On March 18, 2016, the Maine Bureau of Financial Institutions issued a Superintendent’s Notice regarding the filing of a certificate of public convenience and advantage to form Atlantic Trust.  The application was submitted by Atlantic Financial Services of Maine, LLC, an investment adviser firm on Commercial Street in Portland, Maine that is wholly owned by John P.M. Higgins of Cape Elizabeth. 

The initial board will consist of John Higgins, Robert A.G. Monks, Stewart A. Gardner, Richard A. Bennett, and Jonathan L. Cottrell.   

Written comments and requests for hearing on the application are due by Sunday April 17, 2016 by using the following link.

A copy of the Superintendent’s Notice is available here.

Tuesday
Feb092016

Financial Institutions...In the News

  • Four branches of Bangor Savings Bank will close and consolidate with other branches.  (WMTW 12.5.2015)
  • In December, Kennebunk Savings Bank welcomed Alyson Graybill and William Dehais to the bank.  (Fosters 12.6.2015)
  • Senior$afe, a program to fight financial abuse of seniors, resulted in the reporting of 30 suspected cases since its inception by the State in 2014.  (Mainebiz 12.28.2015)
  • Washington and Cumberland County are the only two counties that saw an income increase since 2000.  (BDN 1.25.2016)
  • People’s United Bank, the seventh largest bank in Maine, announced its new Maine headquarters will be located on Fore Street in Portland.  (Manebiz 1.25.2016)
  • Unemployment for December 2015 in Maine was the lowest in 15 years at 4.0 percent.  (Portland Press Herald 1-26-2016)
  • Tony McKim, President of The First, N.A., announced the bank is changing its name to the First National Bank.  (The Ellsworth American 2.1.2016)
Monday
Jan042016

Verrill Dana to Host Annual Employment Law Update

Verrill Dana's Labor & Employment attorneys will host a full-day seminar on January 27 to update you on recent legal developments and provide you with the resources you need to succeed in 2016.

The registration fee for this seminar is $175 per person (includes valet parking, breakfast & lunch). The deadline for registration is Tuesday, January 20. No refunds will be given for cancellations after that date.

Continuing education credits for this program are pending approval.

Please join us for happy hour from 4:00 - 5:00 PM at Top of the East immediately following the program!

View event agenda here.

A limited number of reduced rate rooms are available.
Please contact Ann Blanchard at
ablanchard@verrilldana.com for details.

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