In Brief: Camden of Maine Merges Pair of Units

Published October 04, 2006, 1:00 a.m. EDT

Updated October 03, 2006, 5:33 p.m. EDT

1 Min Read

Camden National Corp. in Maine has combined its two banking subsidiaries under the name of its flagship bank, Camden National Bank.

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Camden National Bank was founded in 1875. Its $1.8 billion-asset parent company has operated two banks since 1995, when it acquired United Bank in Bangor. In 1999 it bought the Kingfield Savings Bank and merged it with United to form UnitedKingfield Bank.

The combination announced Monday will help Camden National become more efficient so that it can compete better and remain independent, Gregory A. Dufour, its president and chief executive officer, said in a news release. The banks were officially merged Sept. 30.

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