Mainebiz

V O L . X X I N O. X I J U N E 1 , 2 0 1 5 12 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 operating offi cer, placing its for- mer leader in a new role to lead the development of smart grid technol- ogy. e Bangor Daily News reported that Richardson is taking over posi- tions previously held by Gary Chasse. Richardson formerly served as vice president of transmission. Susan Faloon, a spokeswoman for Emera Maine, told the newspaper that Chasse's new division will work on grid modernization. at will involve fi nding new ways to structure rates and use new technologies, she said. 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 Maine Savings in Hampden an- nounced it contributed nearly $23,000 to hunger organizations and food pan- tries serving its communities in 2014. Bangor Savings Bank Foundation announced an award of a $10,000 grant aimed at helping to fi nd new markets for locally grown food in the Bangor region. The funds will be used by a consortium of munici- palities and nonprofi ts to research whether the region can support a "food hub" that would gather prod- ucts and sell it to buyers in bulk. Aroostook County nonprofi ts Fish River Rural Health, Katahdin Valley Health Center and Pines Health Services will share a $100,000 grant from the Department of Health and Human Services to support the cen- ters' collaborative efforts to deliver joint services and lower health care costs in Northern Maine. " " WGTECH provides advanced IT solutions that help you grow your business. From networking, to data management, security, and managed suppor t, WGTECH delivers industry-leading solutions tailored for you. Call us today for technology solutions that work for you. Colors Pantone 2747 Pantone 1807 www.wgtech.com 207.856.5300 "We call in WGTECH for high-level IT support issues—they can take care of any issue. WGTECH has become a very good partner for us. They come up with ideas to help us grow." Stacy Shaw MMG Insurance, Presque Isle Colors Pantone 2747 Pantone 1807 Sometimes You Need a Strong Partner www.WGTECH.com 207.856.5300 Networking Security IT Consulting n n n Managed Services Cloud/Virtualization Data Management n n n At WGTECH, we find the right technologies, integrate them with your business, and keep them running. We help you get the most out of your IT budget, and scale for growth. And, yeah, when you need some heavy lifting, we're there for you. Camden National Bank plans four branch closures Camden National Bank is planning to close four branches in central and south- ern Maine as part of its parent company's plan to buy The Bank of Maine for $135 million. The bank said on May 15 that the four branch operations will be consolidated into Bank of Maine branches that are located less than a mile away. It said all impacted customers will be notifi ed and will have their accounts transferred to the nearest branch. The proposed branch closures won't happen until the bank's parent company, Camden National Corp., closes on its acquisition of SBM Financial Inc., The Bank of Maine's parent company. The merger is expected to close in October. "We carefully reviewed our expanded branch network and determined that these branches were in such close proximity to each other that it would provide a better customer experience to combine locations in these instances," Gregory Dufour, Camden National's president and CEO, said in a prepared statement. "We expect that any staff members impacted by the consolidation of these branches will be accommodated through positions within our overall branch network." The bank said it plans to keep The Bank of Maine's service center in Gardiner open, adding that the service center will complement its own in Rockport. Camden National said it plans to close the following branches: ¡ 192 Water St., Gardiner, which will be consolidated into The Bank of Maine's branch next door at 190 Water St. ¡ 127 Community Drive, Augusta, which will be consolidated into The Bank of Maine's branch across the street at 130 Community Drive. ¡ 38 Bangor St., Augusta, which will be consolidated into The Bank of Maine's branch less than a mile away at 66 Eastern Ave. ¡ 108 Lafayette Center, Kennebunk, which will be consolidated into The Bank of Maine's branch less than a mile away at 36 Portland Road. Under the consolidation plan, Camden National would have 64 branches, giving it an expanded presence in central and southern Maine, along with two new branches in Machias and Calais. If the merger is approved by shareholders and federal regulators, it could make Camden National the state's largest Maine-based bank in terms of assets. Under the merger, the bank would have a total of $3.6 billion in assets, a $2.4 billion loan portfolio and $2.6 billion in deposits. That would give it the edge over Bangor Savings Bank, which as of Dec. 31, was considered the state's largest Maine-based bank with $3.1 billion in assets. — D y l a n M a r t i n

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