Mainebiz

W W W. M A I N E B I Z . B I Z 21 A P R I L 5 , 2 0 2 1 F O C U S B A N K I N G / F I N A N C E / I N S U R A N C E applied for a loan administrator posi- tion he started in October. "I really like business banking and I'm glad I'm here now," he says. Kim Donnelly, Gorham Savings' business banking director and a senior vice president, says that having "all hands on deck" from people across all roles was the ultimate cross-training and team-building exercise. "You have such pride in your bank, and community banks in general, for moving so quickly," she says. "Everyone was willing to be there, working from home till all hours of the night, because they knew these customers." She adds that Gorham Savings was one of few banks willing to take on new customers seeking PPP loans, and that the number of PPP loans in 2020 exceeded the number of total business loans for all of 2019. Similarly, Bangor Savings handled 4,843 PPP loans in 2020, compared to 80 SBA loans in a typical year. "ere were days when [the pro- gram] ran out of money, and that's when my anxiety would be up," says Bangor Savings President and CEO Bob Montgomery-Rice. "By the end of the last tranche, I think we got everyone who needed money." Kennebec Savings Executive Vice President and Chief Operating Officer Craig Garofalo remembers PPP's early days as a "wild ride" not limited to people in commercial bank- ing, adding, "It was a rallying cry for a lot of team members." A father of four young children, Garofalo barricaded himself in his bed- room last March with a laptop, putting in 15-hour days on behalf of anxious cus- tomers. Many showed their appreciation after a loan came through, including one who dropped off beer in his driveway. "You feel a little bit like a hero at some level," he says. Appreciative customers include Steve Lachance of the Quarry Tap Room in Hallowell, which employs close to 40 people in the off season and secured two PPP loans through Kennebec Savings, its longtime bank. "Especially in today's world," he says, "it's nice to have that home-town bank where you know the individuals, and their families come in to eat at your res- taurant. It comes full circle." ere was a similar team spirit at Camden National Bank that vice president and commercial portfolio manager Libby Arrico likens to foot- ball: "You do your part, and you kick the ball down the field." She says bankers talked to every client even if they didn't want a PPP loan, and that she gained new appreciation for loan document processors after doing it herself but adds, "I hope to never see some- thing like 2020 ever again." Similarly, Camden National President and CEO Gregory A. Dufour, says, "e challenge of the past year reinforced to me the need for leaders to delegate and empower those around us — the results are amazing." Chris Fitzpatrick, a Machias Savings Bank executive vice presi- dent who leads business banking from Houlton, cites "the herculean efforts of an awful lot of people" at his bank, which closed more than triple its normal commercial loan volume in 2020 because of PPP. He's also thankful to his wife for "pumping me full of coffee and keeping me going." Turning the page As the PPP program winds down this spring, business owners are sounding more optimistic about 2021. "We had a really strong March, we have a great team, and we'll definitely be adding to it this year," says Anker, of Grandy Oats. At the Quarry Tap Room overlook- ing the Kennebec River in Hallowell, Lachance was equally upbeat, amid preparations for subdued St. Patrick's Day festivities — a year to the day after its pandemic shutdown — and looking forward to warmer weather. "You're still tied to all the restric- tions, but hopefully by June or July things will open up and start getting back to normal," he says. "Until then, we will stay masked and distanced and do the best we can." 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 Maine's credit unions are here for you. mainecreditunions.org Banking without the bank. You want a long-lasting, personal and business financial relationship that focuses on your unique needs. Maine credit unions are all about you, not profits. Get better rates, lower fees, and all of the products and services you need. When it comes to your banking, think different, think convenience, think Maine credit unions. You feel a little bit like a hero at some level. — Craig Garofalo Kennebec Savings Bank

• Cover