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The $2.5 billion-asset company will freeze pension benefits for the 10% of its workforce that still receive a pension.
December 4 -
Camden National in Camden, Maine, has agreed to buy SBM Financial in Portland, Maine.
March 30 -
Biddeford Savings Bank and Mechanics Savings Bank will form a holding company to help each cut costs and make bigger loans. But the thrifts are hoping to keep their own charters, and independence, over the long term.
February 17
Bangor Savings Bank in Maine plans to close four branches next year.
The $3.2 billion-asset mutual thrift will close offices in Howland, Farmington, Hartland and East Millinocket, Maine,
The closures will begin in March and run through June. Employees of the branches will be offered positions at other branches.
The bank did not provide an estimate of cost savings from the branch closures.
"We've seen changes within the banking industry, as well as slow but steady migration toward alternative banking channels, which have resulted in decreasing activity in some of our branches," Susan Snowden, chief consumer officer, told the Bangor Daily News.
Bangor Savings did not immediately return a request for comment.
Bangor Savings earlier this year began a $10 million expansion in the Portland area, including a newly renovated branch and two new branches.