Bar Harbor Bank & Trust opens Brunswick branch, a $2.4M new construction

Courtesy / Bar Harbor Bank & Trust Friday's ribbon-cutting ceremony featured, from left, Sally Costello, Brunswick's economic development director; Bar Harbor Bank & Trust CEO and President Curtis Simard; and Marion Colombo, Bar Harbor Bank & Trust executive vice president of retail delivery.

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By Renee Cordes

Underscoring its commitment to the midcoast, Bar Harbor Bank & Trust last week opened a new branch in Brunswick last week after permanently closing its doors in Topsham less than four miles away.

The move was announced in September, when Bar Harbor Bank said that all customer accounts associated with the Topsham branch will be moved to the new location.

A spokesman told Mainebiz on Monday that the bank invested more than $2.4 million to build out the new two-story location, which houses the branch on the first floor and administrative offices on the second floor. The spokesman added that the new location enables the bank to have additional resources at that location, which is managed by Erin Rossignol.

The property was developed by Jim Howard of Priority Management Group and designed by Alpha Architects, with Lajoie Brothers as the general contractor.

Located at 148 Bath Road in Brunswick, the hew branch opened to the pubic on Monday, with an official ribbon-cutting on Friday. It joins more than a dozen other retail peers with branches in the 20,000-population college town and regional banking hub.

“Opening this new state-of-the-art branch gives us the opportunity to better introduce the Bar Harbor Bank & Trust brand to the greater Brunswick community while also increasing the service and convenience for our customers who became part of our family when we were in Topsham,” said Curtis Simard, president and CEO of Bar Harbor Bank & Trust, in a news release.

“We are excited about the opportunities ahead and look forward to providing Brunswick residents and businesses personalized, proven solutions that will help them meet their financial goals," he added.

Features at the new location include drive-up services, a 24-hour ATM and night drop.

Bar Harbor Bank & Trust, a wholly owned subsidiary of Bar Harbor Bankshares (NYSE: BHB) based in Bar Harbor, has 53 branches and 60 ATMs across Maine, New Hampshire and Vermont.In Maine, it has 22 branches and a commercial lending office in Portland.

It has $3.6 billion in assets.

Bar Harbor Bankshares last week posted a 68% jump in third-quarter net income to $8.4 million, citing an upswing in customer activity since state economies reopened this summer on a limited basis, and a further rebound in branch operations compared to the first half of the year.

“Despite the significant challenges posed by the COVID-19 pandemic and related market conditions, we continue to maintain high levels of capital and liquidity, diversified revenue streams, strong credit performance and an exceptional core deposit base," Simard said in the quarterly results news release

"We are confident in our business model to grow investor returns while maintaining our culture and commitment to customers, employees and communities throughout this economic cycle.”