Mainebiz

V O L . X X V I I I N O. X X V I O C T O B E R 3 1 , 2 0 2 2 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E providers in the Northeast, announced it has purchased Patriot Benefit Solutions Insurance Agency, based in North Andover, Mass. e acquisition broadens Cross Insurance's service offerings and the agency's ongoing strategic plans.e Patriot Benefit Solutions team will remain in North Andover and oper- ate under the name Cross Insurance, overseen by Dave Messersmith, president of Cross Insurance's coastal region. N O T E W O R T H Y N O R T H E R N & E A S T E R N Katahdin Bankshares Corp., the Houlton-based parent company of Katahdin Trust Co., announced earn- ings of $2.61 million for the third quarter of 2022 or $0.80 per com- mon share. Net income increased 21.8% or $468,000 from the second quarter of 2022. Year-to-date net income totaled $6.52 million com- pared to $7.53 million in 2021, a decrease of $1.01 million or 13.4%. Total assets reached $966.9 million, an increase over the prior year of $21.4 million. GorhamSavings.Bank/Believing B I Z M O N E Y Tom's of Maine veteran named CEO of door-to-door delivery business B y A l e x i s W e l l s P ortland native Nancy Pak was named CEO of Walden Local Meat Co., a Massachusetts-based, direct-to- consumer share program that hand-delivers meat products to consumers' doorsteps across the Northeast, including Maine and New Hampshire. Pak spent more than 20 years at Colgate-Palmolive, where she eventually rose to vice president and general manager of Tom's of Maine. Pak led an innovative growth plan and secured a certified B Corp status for the iconic brand. B Corp certification is earned by a business that meets verified standards ranging from employee benefits and charitable giving to supply chain practices. Most recently, Pak served as Tate's Bake Shop's CEO before moving into the president of North American ven- tures for Mondelez International, the parent company of Tate's Bake Shop. "As a transformative leader in regenerative agriculture, Walden Local stands for much more than just its delicious food, it has a long-standing commitment to partner farmers in the Northeast and is a testament to how a business can have a lasting impact on its surrounding communities and the food industry," said Pak. "I look forward to accelerating Walden Local's presence in households across the Northeast and championing i t s c o m m i t m e n t to improving our environment." Wa l d e n L o c a l Meat Co., based in Tewksbury, serves more than 30,000 member families and partners with nearly 100 local farms. It produces 100% grass-fed beef and other pasture-raised meat from nearby principled farms. "As a founder, searching for a new CEO can be a fraught exercise, as there is a desire to find someone who will both protect the company's values and culture while also pushing us to grow in new ways," said Charley Cummings, founder and board chair of Walden Local Meat Co. P H O T O / JA M I E L A D U C A Nancy Pak previously served as VP and general manager of Tom's of Maine.

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