July 23, 2018
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Weekly business news

Banker honored

CAMDEN — Steve Thomas, vice president and commercial banking officer in Camden National Bank’s Bangor Market, was honored with the bank’s Commitment to the Shareholder Award for continuously exceeding expectation and surpassing his goals while striving to do what’s best for both the customer and the company in every interaction.

Biomass payment

WASHINGTON — Agriculture Secretary Tom Vilsack has announced that USDA will make payments to more than 160 energy producers in 41 states to support and ensure the production and expansion of advanced biofuels.

“Renewable energy production will create tens of thousands of direct, American jobs; thousands more indirect jobs, and clean electricity to power millions of homes. The payments I am announcing today represent the continuing commitment of the Obama administration to work with producers to provide the biofuel necessary to reduce our nation’s dependence on foreign energy sources,” Vilsack said. “The payments support America’s growing advanced biofuel industry.”

Among those benefitting is Corinth Wood Pellets LLC in Corinth, which has been selected to receive a payment of $31,406.17 for producing and selling premium-grade wood pellets for the residential, industrial and commercial markets. The wood pellets were produced from sawdust and wood chip feedstock. A total of 18,224 metric tons of wood pellets were produced to generate 298,873,600,000 Btu. This energy generation supports our efforts to reduce our reliance on fossil fuels by turning solid feedstock into alternative fuel to heat residential, industrial and commercial buildings.

The payments are authorized under the Bioenergy Program for Advanced Biofuels.

New bank branch

BANGOR — Katahdin Bankshares Corp., parent company of Katahdin Trust Co., announced the bank’s continued expansion plans in the Bangor market with renovations set to begin on a full-service branch located on Springer Drive in the Christmas Tree Shops Plaza.

“We continue to experience a good reception to our entry into the Greater Bangor area,” said Katahdin Trust Co. President and CEO Jon J. Prescott. “Our new Bangor branch will offer customers a spacious and comfortable retail banking facility as well as access to a team of commercial lending professionals.”

Prescott noted that the new branch has tremendous accessibility from the mall area and to I-95.

“This new location will enhance our customers’ experience by providing both deposit and loan services for individual and business needs and supplements our branch offices on Western Avenue in Hampden and Bangor’s Broadway Shopping Plaza,” Prescott said.

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