CAMDEN, Maine - The planned merger of two banks would create the largest Maine-based bank in the state. Camden National Bank and the Bank of Maine announced today they plan to join together under the Camden National Bank name.
The new bank will surpass Bangor Savings Bank in size, and, according to Camden National CEO Gregory DuFour, will hold about 10 percent of all Mainers' bank deposits.
DuFour says although current Bank of Maine customers will see their bank's name change, it's not yet clear what else might change.
"Actually we'll compare Bank of Maine's products to Camden's products, and we'll look at saying, 'Really, what's the best solution for the whole customer base?' " DuFour says.
If the merger is successful, the bank will keep its headquarters in Camden, but keep some of its leadership in Portland. The banks expect to close the deal in the third quarter of this year.
