Community

Saco & Biddeford Savings welcomes two to loan department

Posted May 28, 2013, at 4:07 p.m.

SACO, Maine — Saco & Biddeford Savings Institution recently welcomed two additions to its loan team: James Whelan and Kevin Shangraw.

James Whelan of Scarborough, has been selected as vice president and business loan officer for the bank’s business lending department. Whelan will work out of the bank’s South Portland office. He is an accomplished commercial and business lending professional. Beginning in 1990, he was asset manager at Coastal Bank (now Norway Savings) and subsequently served as the regional manager for Princeton Properties. Most recently, Whelan was responsible for commercial real estate mortgage originations. Whelan earned a political science degree from the University of Maine and is past president and current board member of the Maine Real Estate & Development Association. Whelan lives in Scarborough with his wife and two children.

Kevin Shangraw of Wells has been hired as residential loan officer. Shangraw will work out of the Old Orchard Beach branch. He is well-qualified, having served as a mortgage loan officer with both Downeast Mortgage and North American Mortgage. Shangraw earned a B.A in political science from the University of New Hampshire and is pursuing a master’s degree in business administration. Shangraw resides in Wells.

“Saco & Biddeford Savings is pleased to have capital available within our communities,” said Kevin Savage, president of the bank, in a press release. “Many local businesses and residents turn to us for lines of credit or to purchase or refinance a home. We appreciate the opportunity to lend a helping hand, and could not be more proud of our team.”

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Founded in 1827, Saco & Biddeford Savings Institution is Maine’s oldest bank with branch locations in Biddeford, Old Orchard Beach, Scarborough, South Portland, Westbrook, and its headquarters in downtown Saco. As a leader in community banking, Saco and Biddeford Savings Institution has contributed more than $3.5 million to area organizations over the last ten years; and, continues to support the needs of the area it serves.

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