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Camden National Bank in Maine has agreed to sell a branch in Rockland, Maine, that it is buying from Bank of America (BAC) because of competition concerns raised by the Justice Department.
July 2 -
Jeanne Hulit, the acting head of the Small Business Administration, is leaving Washington behind to join Northeast Bank in Lewiston, Maine, as the president of its Northeast community banking division.
January 28 -
Bryn Mawr Bank (BMTC) in Pennsylvania will have a new chief executive at the end of this year.
April 25 -
William Young, the founding chief executive officer of Virginia Partners Bank in Fredericksburg, Va., will retire on June 30.
April 17
The First Bancorp (FNLC) in Damariscotta, Maine, announced that its chief executive is retiring early next year and will be replaced by its chief operating officer.
When Daniel Daigneault retires in 2015, he will have served as CEO for the First Bancorp and its wholly-owned subsidiary, the First, for nearly 21 years. He would be the longest-tenured CEO in the bank's 150-year history.
Tony McKim, currently the First Bancorp's COO, will be Daigneault's successor. McKim joined the company when it
"Tony brings a wealth of experience to the table and has played a major role at the bank for a number of years," said David Soule, chairman of the First Bancorp's board, in a press release. "The board has been focused on succession planning for some time now, and we are confident that Tony will provide the leadership and strategic direction needed to build on our many successes of the past 20 years."
During Daigneault's tenure, the bank's total assets have risen from $200 million to $1.5 billion. The First Bancorp has also grown from four to 16 branches throughout Maine.
Over the past 20 years, the company's market capitalization has increased 1,500%, to $186 million at December 2013.
