The Bank of Maine yesterday opened its new operations center at the Libby Hill Business Park in Gardiner. The center consolidates its systems and operations work, according to a press release.
The center, which the Portland-based bank described as "ultramodern" with state-of-the-art technology, accommodates 70 employees who were relocated from downtown Gardiner offices. According to the Kennebec Journal, the 10,000-square-foot facility handles loan processing, IT services and deposit servicing. A credit enhancement agreement from the city helped the bank open at the business park. The bank still has 62 employees who work downtown.
Founded in 1834, the bank used to be named Gardiner Savings Institution and was based in the city. It changed its named to Savings Bank of Maine in 2007, and then to The Bank of Maine last year, establishing its corporate headquarters in Portland. The company last year also satisfied federal regulators' conditions that it boost its capital ratios, following its 2010 acquisition by a group of investors. It has 32 branches statewide.