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AWARD B U S I N E S S L E A D E R S O F T H E Y E A R W W W. M A I N E B I Z . B I Z 25 M A R C H 2 3 , 2 0 2 6 underwrite in more jurisdictions and more industries. Since we're a specialist in workers' compensation, we already are limited in what we offer so being able to make broader offerings to the market becomes really important. About two years ago, we had looked at another opportunity that didn't pan out, but Dakota Group caught our attention when we heard it may go up for sale. We had mutual business partners who helped us see that it could be a great match from a business and cultural standpoint. Dakota Group is a high-performing company and we knew it would be accretive to the group almost immediately. We did not see great risk from the company itself, but needed to make sure we had our house in order to be sure that we could handle the integra- tion risk. Ultimately, the risk might be in not moving forward with this opportunity. ere is a lot hap- pening in our space these days and keeping the status quo is not really a winning option. Mainebiz: As MEMIC grows, how do you maintain the corporate culture and focus? MB: We have been intentional in creating a policyholder-focused, service-drive organization. Mainebiz: How is the workers' compensation landscape evolving? MB: We have seen rates continue to fall as the frequency of work- force injuries also decreases, which is really good news for employers but it squeezes us and keeps the market ultra-competitive. ere hasn't been a lot of change in regu- lation in recent years, which is good — we have a balanced and fair system in Maine. Mainebiz: What's the biggest misconception about workplace safety among employers? MB: Employers often do a good job with the big and obvious risks but the environmental ones — like icy parking lots in winter — some- times are overlooked. Some of our largest, most expensive claims come from those conditions. Beyond that, while it makes sense, some employers don't connect that value a strong culture of teamwork and mutual support actually lead- ers to fewer lost days from work due to injury. Mainebiz: You have said that your small-town upbringing taught you to 'pitch in.' How so? MB: In a small town, you can't wait for someone else to fix something or to wait until you have an expert, you have to jump in and do it. My upbringing in Aroostook County taught me to volunteer, to say "yes" to that committee or project [and] to understand that you can't wait for someone to ride in on a white horse, you have to be part of it and some- times you lead it. Mainebiz: What's next for MEMIC? MB: I don't anticipate any near- future acquisitions. is is a big gulp for us. We will be busy integrating and working to realize the vision with Dakota Group, where we com- bine and are the third-largest multi- state workers' compensation special- ist in the U.S. Renee Cordes, Mainebiz deputy editor, can be reached at rcordes @ mainebiz.biz The best choice for your business banking just got easier. Daryl Wentworth SVP, Director Middle Market Banking dwentworth@barharbor.bank 207-771-1216 Larry Wold SVP C&I Relationship Manager lwold@barharbor.bank 207-771-1222 We can make it happen. Together. Joe Delano SVP CRE/ Hospitality Team Leader jdelano@barharbor.bank 207-771-1217 Our Portland-based commercial team can help your business grow. • Loans up to $50 million with flexible terms • Competitive rates tailored to your business needs • Corporate cash management and treasury solutions • High-volume transaction tools with leading technology • Personalized service of local banking experts Christopher Rugullies SVP Commercial Relationship Manager crugullies@barharbor.bank 207-601-5718 Suzanne Moffatt, AFIM, CRSP SVP Senior Wealth Manager smoffatt@barharbor.bank 207-947-4880 Alicia Napolitano, AAP, NCP, CTP VP Senior Treasury Sales Officer anapolitano@barharbor.bank 207-756-2352 All loans subject to credit approval. Additional terms, fees, and conditions may apply for some products. Bar Harbor Wealth Management is a subsidiary of Bar Harbor Bank & Trust. Investment products are not deposits or obligations of the Bank, are not FDIC insured, are not guaranteed by the Bank and are subject to investment risk, including possible loss of value or principal amount invested. Member FDIC www.barharbor.bank • 888-853-7100 Over 60 locations across northern New England Proud to be named one of America's Best Banks There is a lot happening in our space these days and keeping the status quo is not really a winning option.

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