Mainebiz

V O L . X X I N O. X V J U LY 1 3 , 2 0 1 5 8 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 Portland OKs minimum wage increase e Portland City Council has approved an increase of the city's minimum wage to $10.10 an hour, eff ective the beginning of next year. e Portland Press Herald reported that the city council on July 6 voted 6-3 in favor of the increase after a nearly two-hour debate. After increasing from $7.50 an hou r to $10.10 next year, the city's minimum wage will increase to $10.68 in 2017. en, starting in July 2018, the minimum wage will increase at the same rate as the Consumer Price Index. G.M. Pollack & Sons to close last store G.M. Pollack & Sons, a jewelry retail business founded 60 years ago, is planning to close its store in South Portland following the closure of other locations earlier this year. e Portland Press Herald reported that the jewelry retail chain, which was family owned until being sold to its general manager in 2009, closed its other locations, including ones in Bangor and Topsham, earlier this year. e newspaper said its president, 䄀甀琀栀漀爀椀稀攀搀 䐀攀愀氀攀爀 眀眀眀⸀渀漀爀爀椀猀椀渀挀⸀挀漀洀 ㄀ⴀ㠀　　ⴀ㌀㜀　ⴀ㌀㐀㜀㌀ 椀渀昀漀䀀渀漀爀爀椀猀椀渀挀⸀挀漀洀 䄀搀瘀愀渀挀椀渀最 猀攀挀甀爀椀琀礀Ⰰ 氀椀昀攀 猀愀昀攀琀礀Ⰰ 愀渀搀 挀漀洀洀甀渀椀挀愀琀椀漀渀猀⸀ 䤀一 䌀䄀匀䔀 伀䘀 䔀䴀䔀刀䜀䔀一䌀夀 䈀䔀 倀刀䔀倀䄀刀䔀䐀 Woodlands Country Club — Falmouth, ME Renovations including new lighting, moldings, ceilings and carpeting over the winter turned this into a bright, beautiful conference space. When you are ready to upgrade your space call Laura Blanchette at 207.282.7697 NBT Bank names MEREDA board member as Maine regional president In an effort to strengthen its Maine pres- ence, upstate New York-based NBT Bank has named a banker with local roots as its Maine regional president. Kimberly Twitchell, a board member of the Maine Real Estate and Development Association, started her new role on July 6, taking over the position of John Watt in leading the commercial bank's southern Maine expansion. Twitchell had only joined last November as the bank's regional commercial banking manager. Twitchell's promotion comes after NBT entered the Maine market last year, seek- ing opportunities in commercial real estate and middle-market business lending. At the time, the bank, which is based in Norwich, N.Y., said it moved into the state because there was a gap in Maine's market for a mid-sized bank that focuses on commercial lending. "NBT Bank has had a strong start in the greater Portland area," Twitchell said in a prepared statement. "I'm excited to be a part of the bank's expansion efforts in Maine and to take on this expanded leadership role." Watt, who opened NBT's Portland offi ce last fall, told Mainebiz that NBT decided to promote Twitchell not just for her 25 years of experience in the fi nan- cial service industry, but also because it was important for the bank to have a Mainer at the helm. Twitchell, a Bowdoin College graduate, worked at TD Bank's Portland offi ce for nearly nine years, most recently as a senior vice president. She is also a board member of the Maine Building Materials Exchange and the Genesis Community Loan Fund, which is based in Brunswick and helps low- to moderate-income families. "We want it to be as local as we can in Maine," Watt said of Twitchell's promo- tion. "Kimberly is very qualifi ed, especially in the commercial real estate market." He added that NBT has strived to build a strong team of banking professional with local roots in Maine. In his new role, Watt said he will remain "vitally connected" to the Maine market, working with Twitchell on strategy the bank's growth plans in Maine over the next three years. He described his new position as senior vice president of strategy in Maine. "Given the relative strength of the economy, we've had opportunity to grow in excess of our fi rst year expectations and prospects of growth appear to be good," Watt said. Though Watt declined to discuss specifi c fi nancials, he said the "real estate markets are vibrant and providing substantial opportunities … as well as mid- dle-market commercial lending opportunities." He said the bank has closed on "several very large relationships" since January, adding that the companies involved are name brands in Maine. — D Y L A N M A R T I N P H O T O / C O U R T E S Y N B T B A N K Kimberly Twitchell, NBT Bank's new Maine regional president.

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