June 18, 2018
Business Latest News | Poll Questions | Tiny House Surprise | Antiquing | Stephen King

Bangor Savings Bank to open new branch in Rockland

By George Chappell

ROCKLAND, Maine — Bangor Savings Bank is purchasing a former bank building on U.S. Route 1 in a move that is likely to create new jobs.

The new bank is going into the vacant former Union Trust building close to McDonald’s.

“This is a brand-new branch,” Senior Vice President Yellow Light Breen said Thursday. “It’s not a relocation or anything like that.”

He said he could not yet determine exactly how many jobs will be created, “but we’ll have to hire several new employees to staff the branch.”

“Typically, it could be anywhere from three to six people,” he added.

Bangor Savings has entered into a purchase agreement subject to environmental reviews and expects to make the purchase final by the end of September, Breen said.

After some renovation and modernization, Bangor Savings will be open for business at the location this winter.

“We’ll be opening the brand-new branch from scratch, hopefully by the end of the year,” Breen said.

He noted that “we have one branch at the shopping village near Hannaford’s in Camden, and there’s also a Belfast branch, which we’ve had for a few years.”

Jim Conlon, president and chief executive officer of Bangor Savings, said his company is pleased to have the opportunity to purchase the building in Rockland.

“This is a vibrant and growing region of the state, and we look forward to serving the businesses and people in the Rockland area,” he said.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like