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The move, part of a revamp outlined last month that includes store upgrades and "tech-forward" digital banking, will leave the lender with 28 retail locations in Maine.
Participants will include the CEOs of the Maine State Chamber of Commerce and Portland Regional Chamber of Commerce, as well as the president of MEREDA and the CEO of Bangor Savings Bank.
The new branch is the first for the 70-year-old institution in decades. For now, Dirigo has four branches — in Lewiston, Auburn, Mechanic Falls and South Paris
The Norwich, N.Y.-based bank said it has seen “tremendous growth” in its Maine customer base in recent years.
A roundup of new hires, promotions and achievements at businesses, nonprofits, professional services firms and health care institutions in Maine.
Camden National Bank is the second-largest Maine-based bank, based on assets of $5.7 billion.
The comparisons to the second quarter of 2025 and to the third quarter of 2024 were significantly boosted by the acquisition of a western New York bank.
"We are pleased with these results and look forward to finishing the year strong," said Jon J. Prescott, president and CEO of Katahdin Trust, a Houlton-based bank with 16 locations.
Skowhegan Savings Bank, with 12 locations throughout Maine, has expanded its Fairfield branch lending team, with the promotion of a longtime employee and the addition of a new vice president and commercial lender.
There are 6,548 ESOPs in the United States, holding more than $1.8 trillion in assets, according to the National Center for Employee Ownership.
With ESOPs, once employees become vested in the company’s success, the organization’s prosperity becomes personal. They see work less as just a job and more like a place where they can build their careers, writes guest columnist Chris Whitney.
In 2013, the Pine Tree State had 15 designated ESOPs. By 2024, that number grew to 86 ESOPs, with more expected as interest in the structure continues to grow.
A notable benefit of the ESOP is the by-product of employees thinking like owners, which they now are.
Some of Maine’s best-known names in construction and manufacturing are ESOPs, including Cianbro, Sargent Corp., Reed & Reed, Haley Ward, Zachau Construction, Landry/French Construction, Knickerbocker Group, J.S. McCarthy Packaging and Printing,
As Maine small businesses continue to evolve, the employee ownership model offers advantages for both the owner and the employees.
In the newly created role, Beth Burcke will oversee all aspects of human resources across the organization.
Sponsored by Kennebunk Savings Bank
Next year will bring a host of new challenges for businesses looking to add employees to the payroll.
Maine's Paid Family and Medical Leave law will go into effect, which will allow an employee to take paid leave for up to 12 weeks to care for an ill family member or new child, for instance.
The state's minimum wage will increase by 45 cents an hour, to $15.10 (a separate minimum wage provision was approved in Portland that will raise the hourly compensation to $19 within three years).
And rising health care premiums will continue to be a struggle for employers.
For companies that plan to grow, all of these factors will have to be managed.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
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Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
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Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
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