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Banking & Finance

Charles Cawley, founder of MBNA, dies at 75

Paul Koenig |

Charles Cawley, who founded the credit card giant MBNA Corp. and left a lasting mark on Maine with his philanthropy, died Wednesday morning at his home in Camden.

Two Maine companies surpass Kickstarter goals

Online crowdfunding campaigns by Maine companies for an all-terrain tripod and a compact pocket knife have well exceeded their fundraising goals.

Portland area sees spate of bank expansions

Laurie Schreiber |

Bangor Savings Bank's $10 million project relocating its Fore Street branch in Portland to Middle Street is one of several recent or planned bank expansions in southern Maine.

Crowdfunding investment fund proposed for Katahdin-area businesses

A community group that promotes development in the Katahdin region is developing an equity crowdfunding platform so people can invest in Katahdin-area businesses.

WEX's third quarter earnings fall despite increased revenues

James McCarthy |

Lower fuel prices and volatility in foreign currency markets continue to plague WEX Inc. (NYSE: WEX), which reported today that its third quarter net earnings were $32.2 million, compared with $74.4...

SBA loans in Maine increased by 22% in FY15

The number of loans provided the U.S. Small Business Administration in Maine grew by 22% in the most recent fiscal year over 2014.

National park app developer Chimani raises $745,000

Chimani, a Portland-based developer of national park mobile apps, said Thursday that it raised $745,000 from the Maine Venture Fund, Maine Technology Institute, Maine Angels and individual investors,...

Bangor Savings Bank to sponsor UMaine women’s basketball

Bangor Savings Bank will be the title sponsor of the University of Maine’s women’s basketball team for the next three years, the university’s athletic department and its multimedia...

Gorham Savings Bank buys rest of Grand Trunk building in Portland

Paul Koenig |

Gorham Savings Bank's recent purchase of the top two floor of Portland's historic Grand Trunk Office Building at the corner of India and Thames streets sets the bank up to redevelop the century-old...

FAME bans 'one-day loans' for New Markets Tax Credit program

The Finance Authority of Maine voted Thursday to ban the use of “one-day loans” to qualify for economic development incentives under the state's New Markets Tax Credit program, two months...