Mainebiz

W W W. M A I N E B I Z . B I Z 17 N OV E M B E R 2 7 , 2 0 1 7 F O C U S B A N K I N G / F I N A N C E I T S O LU T I O N S TO P O W E R YO U R G R O W T H I T S N E . C O M / B C • 8 8 8 - 2 6 4 - 7 8 5 2 A Business Continuity (BC) Plan from ITS will minimize the impact on your business of even the worst-case scenario. The highly skilled and certified team at ITS knows what it takes to keep your business in business should a major disaster hit your facility. Our Business Continuity solutions use remotely hosted active-standby (or active-active) systems and storage, plus custom-designed data retention and management, to mitigate risk substantially. TO K E E P YO U R B U S I N E S S R U N N I N G N O M AT T E R W H AT. . . . . . C A L L O N T H E E X P E R I E N C E O F I T S TO DAY ! " YO U C A L L T H E F I R E D E PA R T M E N T. I ' L L C A L L I T S ! " While banks seek greater automation and consumers can do their banking by ATM, computer or app, employment at FDIC-insured institutions in Maine has grown in the past two years. Paying for that new excavator E very industry comes with its challenges, but businesses that depend on spe- cialized equipment — ranging from lobster boats to excavators to a mainframe computer — may turn to leasing as an alternative. According to a survey by the Equipment Leasing and Finance Association in Washington, D.C., new business volume grew 2.5% in the equipment fi nance industry in 2016. The increase marked the seventh consecutive year that busi- nesses increased spending on capital equipment. ¡ Overall new business volume grew 2.5%, lower than the 12.4% growth for 2015, but higher than the national economy, which grew 1.6% in 2016 ¡ The top fi ve most-fi nanced equipment types were transportation, IT and related technology services, agricultural, construction and offi ce machines ¡ The top fi ve end-user industries representing the largest share of new business volume were services, industrial and manufacturing, agriculture, transportation and wholesale/retail. S O U R C E : Equipment Leasing and Finance Association M aine's banking climate continues to be shaped by both in-state and out- of-state institutions. TD Bank, Bank of America and KeyBank, which are all based out of state, control roughly 30% of the market share in Maine, but that's down from 37% a decade ago, according to the Federal Deposit Insurance Corp. In the same decade, the top three Maine-based banks — Camden National Bank, Bangor Savings Bank and First National Bank — have grown their collec- tive market share from 17.5% to 25.3%. Maine's credit unions have also shown growth, increasing assets to $7.6 billion at June 30, an increase of 4.2% com- pared to a year ago. S TA R T I N G O N F O L L OW I N G PA G E » M BANK EMPLOYMENT IN MAINE BANK MARKET SHARE IN MAINE FTE employees Institutions June 2017 4,829 26 June 2016 4,483 26 June 2015 4,480 27 Institution Number of offi ces Market share TD Bank 46 13.47% Camden National Bank 61 10.59% Bangor Savings Bank 56 10% KeyBank 50 9.25% Bank of America 16 6.99% First National Bank 16 4.73% People's United Bank 27 4.1% Bar Harbor Bank & Trust 14 4.03% Machias Savings Bank 19 3.86% Northeast Bank 12 3.25% Norway Savings Bank 24 3.21% Kennebunk Savings Bank 13 3.2% Gorham Savings Bank 14 3.01% Androscoggin Savings Bank 12 2.74% Bath Savings Institution 12 2.47% Katahdin Trust Co. 17 2.33% Saco & Biddeford Savings Institution 7 2.16% Kennebec Savings Bank 5 2.15% S O U R C E : Federal Deposit Insurance Corp. S O U R C E : Federal Deposit Insurance Corp. John Raymond's grinder and excavator in action in Eddington. P H O T O / F R E D J. F I E L D

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