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V O L . X X I V N O. V I I I A P R I L 1 6 , 2 0 1 8 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 N O T E W O R T H Y S T A T E W I D E U.S. Sen. Susan Collins announced that Maine received $116,456 from the U.S. Department of Housing and Urban Development-Veterans Affairs Supportive Housing program. The funds will go towards targeted vouch- ers that offer permanent supportive housing opportunities to veterans ex- periencing homelessness. Recipients included Maine State Housing Authority, $37,406 supporting seven vouchers; Westbrook Housing Authority, $32,968 supporting five vouchers; Bangor Housing Authority, $25,325 supporting five vouchers; and Augusta Housing Authority, $20,757 supporting five vouchers. Frontier adds three routes from Jetport Portland International Jetport announced that Frontier Airlines will introduce nonstop service from Portland to Denver and Raleigh/ Durham, N.C., starting in July. In August, it plans to add nonstop ser- vice to Orlando, Fla. Paul Bradbury, director of the Jetport, said the addition of Frontier Airlines to the jetport's carriers will provide more options and "a better travel experience for the consumer." Change in leadership at Gorham Savings Gorham Savings Bank, the ninth-largest Maine-based bank, announced that Christopher Emmons, president and CEO since 2003, will retire at year's end. Stephen deCastro, who joined Gorham Savings in July 2016, has been pro- moted to president, effective April 2, and will report to Emmons through the year. He had served as senior view president of Key Private Bank in Portland, where he led a 26-person wealth management team. rough a spokesman, Gorham Savings said it expects to fill the CEO position after Emmons leaves the post. Under Emmons, Gorham Savings doubled its assets, topping $1 billion in 2017, and its branch network grew from six to 13 branches. It also renovated the Grand Trunk building at 1 India St. in Portland, which serves as a branch and offices. Emmons, whose back- ground was in commercial lending, directed the bank toward more of a business-lending focus, building a portfolio of $600 million in com- mercial loans. He also oversaw the creation of LaunchPad, a pitch com- petition with a $50,000 prize. N O T E W O R T H Y S O U T H E R N R. M. Davis, a wealth management firm in Portland, announced that it has $4 billion in assets under manage- ment to continue its position as the largest private wealth manager in northern New England. Catherine and Todd Alexander in col- laboration with the Portland Education Foundation and the Maine Community Foundation's Eagle Point Donor Fund, established The Annetta Weatherhead Fund for Reiche School in the amount of $15,000. The fund will provide a financial resource to improve the lives of school students and enhance their educational opportunities. The Maine Academy of Modern Music said it will open a new location at 45 Casco St. in Portland. Saco & Biddeford Savings Institution donated $18,800 to 19 food pantries located throughout southern Maine. The Portland Education Foundation was awarded a $50,000 grant from The Stephen & Tabitha King Foundation in response to a proposal. The grant will be used for books and literacy resources for Portland Public Schools' elementary school classroom libraries, school libraries and book closets. Thornton Tomasetti, an engineering firm in Portland, launched TT Gives Back, a community service program created to improve and increase volunteerism opportunities for its employees. Lebel & Harriman, a financial planning services firm in Falmouth, launched 40 Forward, a 40th anniversary campaign that will donate $1,000 a week for 40 weeks to charitable organizations selected by its employees. Knack Factory, a commercial video and photo production studio, opened a content-production studio and creative co-working suites at 72 Auburn St. It moved from Free Street in Portland. MEMBER FDIC EQUAL HOUSING LENDER Make your vision a reality. TALK TO A NEIGHBOR. 1-800-447-4559 | bathsavings.com You have a vision to build something meaningful in the community, and we have the experience to help make it happen. Custom lending solutions are here for you — and so are we. Let's talk. Bath • Boothbay Harbor • Brunswick • Damariscotta • Falmouth • Freeport • Portland • South Portland • Yarmouth S O U T H E R N

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