Maine's largest independent bank is venturing west of New England for the first time, reaching into western New York state to buy servicing rights to $250 million of home mortgages.

Portland-based People's Heritage Financial Group will buy the servicing rights from $6.7 billion-asset Onbancorp, Syracuse, N.Y. The Maine company declined to reveal the purchase price.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.