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W W W. M A I N E B I Z . B I Z 17 F E B R UA R Y 8 , 2 0 2 1 F O C U S C O M M E R C I A L D E V E L O P M E N T area alone, more than 20 institutions hold $18 billion in deposits, according to the latest federal data. ough new players are entering the fragmented market, more than half of deposits are at three national players — TD Bank, Bank of America and KeyBank. Chase's push into greater Portland, starting with a leased downtown loca- tion due to open in June, comes amid an ongoing drive to operate branches in all 48 lower U.S. states. e plan, unveiled in 2018, calls for opening 400 new branches over five years employing a combined 3,000 people, including 50 in Maine, where its Portland commercial team is led by Michael Griffin. "As we started market expansion back in 2018, we've always had Maine in our sights, so our teams on the ground have been scouring the market for the right opportunity," says Ashlee Kelly, Chase's real estate strategic plan director. She says Portland fits the bill because of its size and alignment with Chase's New England strategy and underscores that its commitment is long-term. "It certainly takes time for us to become known in the market and for people to understand the value we bring," she says. "We are here for the long haul." As Maine's largest city, Portland has an equally attractive pull for smaller banks. ey include Skowhegan Savings Bank, which is transforming a former tanning salon in Portland's East Bayside neighborhood into a commercial bank- ing center — its 11th in the state and first in southern Maine. Greater Portland 2021 Industrial Market Survey 10 th ANNUAL Portland, ME dunhamgroup.com 207.773.7100 Local Knowledge. Regional Focus. Global Reach. DOWNLOAD YOUR 2021 COPY AT DUNHAMGROUP.COM Big enough to serve, small enough to care. sebagotechnics.com • south portland & bridgton • 100% employee-owned Civil Engineering Land Surveying Local, State, & Federal Permitting Transportation/Traffic Engineering High Definition Laser Scanning GIS Services Land Planning Landscape Architecture Environmental & Natural Resources Commercial Land & Site Development We're here for all your commercial site development needs, in one company, with Maine's most experienced, responsive professionals, and a commitment to your success. FYI - Sawyer Engineering & Surveying, of Bridgton, is now part of Sebago Technics! We look forward to enhancing and continuing to serve the Lakes Region communities. ADivisionofSebagoTechnics C O N T I N U E D O N F O L L OW I N G PA G E » We are here for the long haul. — Ashlee Kelly JPMorgan Chase P H O T O / C O U R T E S Y J P M O R G A N C H A S E Ashlee Kelly, real estate strategic plan director at JPMorgan Chase

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