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Banking & Finance

Kennebec Savings Bank awards $54K in three ‘catalyst’ grants


Kennebec Savings Bank awarded grants worth up to $18,000 to Kennebec Valley Family Dentistry of Augusta, the Restorative Justice Institute of Maine and Waterville Area Habitat for Humanity.

Rand Capital invests $1.5M in Tilson's $5M investment round

James McCarthy |

Rand Capital Corp., a publicly traded business development firm, will fund a $1.5 million follow-on investment in Portland-based Tilson Technology Management Inc.

KeyBank donates $450K to CEI to support job creation in rural Maine


KeyBank Foundation has donated $450,000 to Coastal Enterprises Inc. to support small business growth and job creation in Maine’s rural communities.

Maine Credit Union League, Synergent announce senior leadership changes


The Maine Credit Union League, the state trade association for Maine's 56 credit unions and 695,000 members, and Synergent, its credit union service organization, have made changes to their senior...

CEI's financing activity in 2017 tops $50 million


In its annual impact statement for 2017, Coastal Enterprises Inc. reported Wednesday that its family of organizations deployed $51.7 million to 79 business in mostly rural regions across Maine and...

Detroit man sentenced for operating unlicensed Bitcoin business in Maine

James McCarthy |

In a precedent-setting case involving an unlicensed Bitcoin business whose owner advertised and completed some transactions in Maine, a Detroit man and his company were sentenced in U.S. District...

Franklin Savings Bank names successor to longtime CEO


Franklin Savings Bank President and CEO Peter Judkins plans to retire at the end of this year. Executive Vice President and Chief Operating Officer Tim Thompson has been named as his successor.

Small, independent registered investment advisers find a niche in Maine


The number of registered investment advisers in the U.S. increased again in 2016, and their assets under management increased at an even higher rate. That trend is mirrored in Maine.

Thompson-Hamel of Presque Isle expands its footprint with new Bangor office

Renee Cordes |

Presque Isle-based Thompson-Hamel expanded its footprint with a bigger office in Bangor this past October. The firm now serves more than 7,000 financial clients in 25 states, managing around $265...

Equipment finance firms provide the capital that keeps Maine industry rolling

Laurie Schreiber |

Financial institutions like Maine Financial Group in Scarborough and Machias Savings Bank have been instrumental in making growth possible for companies like J.D. Raymond Transport, which requires a...