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V I E W P O I N T S W W W. M A I N E B I Z . B I Z 3 N OV E M B E R 2 8 , 2 0 2 2 From the Editor Featured @ Mainebiz.biz T he past three years have been crazy for any type of business. e pandemic has stretched many industries to the limits, but banking has had its own version of craziness. With both retail and office workers, it had to adapt to pandemic distancing protocols. Bankers saw the "refi" boom over 2020 and 2021. Amid that, they burned the midnight oil processing Paycheck Protection Program applications. In Maine particu- larly, they were besieged by out-of-state home buy- ers looking to prequalify for mortgages. ey could be forgiven if they were a bit irritable when both the refi and mortgage booms fizzled with rising interest rates and a volatile economy. Yet bankers have also shown that they are nothing if not adaptable. As Senior Writer Laurie Schreiber reports, in the wake of rapid change, banks have found other growth opportunities. See "Spiking interest rates," which starts on Page 16. Along with adaptability in the marketplace, we're seeing a range of banks beefing up wealth-man- agement departments or adjusting personnel after the retirement of a key official. Staff Writer Alexis Wells offers a roundup of hirings and promotions in "Personnel moves highlight relationships," which starts on Page 22. In a related realm, Senior Writer Renee Cordes looks at how startups find capital. Whether it's through pitch competitions or angel funding, Maine startups have found some innovative ways to raise funds. See "Money talks," which starts on Page 10. Our list in this issue is Maine's largest credit unions. See Page 34. Peter Van Allen pvanallen@mainebiz.biz The past three years stretched many industries to the limits, but banking had its own version of craziness For a daily digest of Maine's top business news, sign up for the Mainebiz Daily Report at mainebiz.biz/enews 1. Maine law taking effect Jan. 1 will require some employers to make vacation payouts 2. Botto's Bakery, a Portland mainstay, plans move to Westbrook 3. FAME approves $93M in bonds to finance Rock Row infrastructure project 4. NH group scoops up five self-storage facilities in off-market deals 5. Developer Mark McClure turns to 'build to rent' concept for a Portland townhouse development 6. Boutique hotel to open next summer in Portland's West End 7. With holiday shopping season coming up, Waterville unveils revamped downtown 8. Unity College slashes tuition, sets enrollment record 9. Company that supplies mushroom farms quintuples its space with Lewiston deal 10. Loring base eyed for production of synthetic jet fuel P H O T O / C O U R T E S Y O F BO U L O S 2 Get Maine's business news daily at mainebiz. biz. Below is our top content from Nov. 8–21. We partner with clients big and small to get the deal done. bernsteinshur.com Be valued. BE SHUR. You'll find a true partner in our Mergers & Acquisition team. Whether working solo or with a team of advisors, we regularly manage all aspects of mergers, acquisitions, divestitures, and joint ventures – allowing you to focus on the road ahead. CORRECTIONS: An article in the Nov. 14 print edition, "Vietnam native, military veteran finds his calling at Maine Law," misspelled the name of Son Nguyen. The same article also had an incorrect first name for Kaitlin Caruso, a visiting professor at the University of Maine School of Law. Financial institutions show their ability to adapt Steve Mathews, owner of Botto's Bakery, at left, and Craig Young, Boulos partner and broker.

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