Issue link: https://nebusinessmedia.uberflip.com/i/1336222
W W W. M A I N E B I Z . B I Z 19 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 and a new location in Manchester set to open in March. Montgomery-Rice says all three new localities are attractive as small- business hubs. "We look for small businesses and Main Street marketplaces where we can collectively serve businesses, owners and their employees, and consumers," he explains. "We'll continue to evaluate how the pandemic has changed utiliza- tion of banks and fill in markets based on what we've learned." He says that deciding between acquiring branches or building new ones depends on various factors, and notes that Bangor Savings has built more than 20 branches over the last 15 years. "Over the next several years we'll be doing more de novo branches," he predicts. Camden National has a total of 57 banking centers and branches in Maine and one in Portsmouth, along with a mortgage office in Braintree, Mass. In March 2020 it opened a new location in Damariscotta to replace a previous location, leasing space in a new building for better access, visibility and more room, according to president and CEO Gregory A. Dufour. "We view our branches as one of the critical components of our overall delivery network, which also includes our digital capabilities," he says. Meanwhile in Downeast Maine, Bar Harbor Bank is up to 52 branches in Maine, Vermont and New Hampshire, including eight purchased from People's United Bank in 2019 and the new con- structs in Brunswick and Bedford. Simard, who grew up in Saco, says he remains intrigued by Portland but that timing is key, noting, "e ques- tion is to do it right and do it well, or don't do it." R e n e e C o r d e s , M a i n e b i z s e n i o r w r i t e r, c a n b e r e a c h e d a t r c o r d e s @ m a i n e b i z . b i z a n d @ r s c o r d e s Build your business in Biddeford, Maine Contact Mac Simpson for more information (207)-747-1515 | msimpson@portacompany.com forward-thinking. design-focused. experiential. Maine Community Bank's future operations center in Westbrook. Skowhegan Savings plans a commercial banking center in East Bayside. Chase Bank will start its Maine expansion with a downtown Portland branch. R E N D E R I N G / C O U R T E S Y M A I N E C O M M U N I T Y B A N K R E N D E R I N G / C O U R T E S Y S K OW H E G A N S AV I N G S B A N K R E N D E R I N G / J P M O R G A N C H A S E