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V O L . X X X N O. V I I A P R I L 1 , 2 0 2 4 24 B A N K I N G / F I N A N C E / I N S U R A N C E F O C U S Cross-training and improved technology can make it easier to hire fewer employees, each able to handle more roles. And the pandemic essentially taught many cus- tomers that they don't need face time with a teller to conduct their banking business. "We're still down 45% of our foot traffic pre- COVID," says Silsby. Many customers got hooked on automated transactions, debit cards, mobile payment ser- vices and the like. Silsby cites ATM machines as a declining service. "We, as a society, are carrying less cash," he says. "e industry is scratching its head: What does the customer want? We're all trying to figure out the future of the branch." Right location Bangor Savings Bank has opened four branches in two years. In 2022, it opened a full-service branch in a retrofitted space at 185A Townsend Ave. in Boothbay Harbor. In 2023, it opened a full-service branch in a new build in Manchester, N.H., followed by a full-ser- vice branch, also in a new build, at 112 Cottage St. in Bar Harbor. is past January, the organization retrofitted a building at 30 Main St. in Kennebunk for its latest full-service branch. "It's about making sure you're in the right location," says Bob Montgomery-Rice, Bangor Savings' president and CEO. What makes the right location? Convenience, ease of access, the right "fit" for the community. "You don't want your branch to be hard to get to," says Montgomery-Rice. When people are out doing errands, "It's ideal if it's on the way. It's got to be easy to park. at's true of most retail loca- tions regardless of the industry." End of the teller line? Headquartered in Bangor and founded in 1852, Bangor Savings has over $7 billion in assets, 61 branches in Maine and eight in New Hampshire and five business and/or loan production offices in Maine, New Hampshire and Massachusetts. e branch on Middle Street in Portland's Old Port is temporarily closed as the building under- goes a major remodeling. » C O N T I N U E D F RO M P R E V I O U S PA G E Usually, you develop a critical mass of customers and it grows from there. — Bob Montgomery-Rice Bangor Savings Bank P ROV I D E D P H O T O / B A N G O R S AV I N G S B A N K Bob Montgomery-Rice, president and CEO of Bangor Savings Bank, says convenience, ease of access and the right "fit" for the community help define the right location for a new branch. The challenges, and opportunities of older adult health in Maine JUNE 5 / 7:30–10:30AM / HILTON GARDEN INN FREEPORT DOWNTOWN LEARN MORE AND REGISTER AT MAINEBIZ.BIZ/HEALTHCARE24 SP ONSORED BY MOD ER ATOR PA N EL IS T Our panel of executives will discuss understanding care needs, maintaining health and quality of life, improving access, reducing healthcare costs, and learning about resources in Maine. FOLLOW U S @M AI NEBI Z #MBHCF24 S T A Y T U N E D F O R M O R E P A N E L I S T S WEDNESDAY, JUNE 5 \\\\\\\\\\\\\\\\\ Daryl Cady Hospice of Southern Maine Megan Walton Southern Maine Agency on Aging