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Updated: May 24, 2023

Kennebec Savings opens southernmost branch in Portland

big group of people in front of building with ribbon Courtesy / Tim Greenway Photography At the opening of the Portland branch, Kennebec Savings Bank President and CEO Andrew Silsby, Slugger from the Portland Sea Dogs and Quincy Hentzel from the Portland Regional Chamber of Commerce cut a ceremonial ribbon to open the bank’s newest branch.

Just six months after announcing it would jump into the crowded Portland marketplace, Kennebec Savings Bank opened its newest — and southernmost — branch at 53 Baxter Blvd.

Nearly 15% of the bank's loan portfolio is already in the Portland area.

Kennebec Savings joined the Portland Regional Chamber of Commerce, Slugger the Portland Sea Dogs mascot and members of the community for a ribbon-cutting ceremony to open the new location.

"We strive to offer a different kind of banking, where you are a person, not a number,” Andrew Silsby, the bank’s president and CEO, said in his remarks. “It’s important to us that we get to know you, understand your financial goals and help you reach those goals.”

person with tie smiling
Courtesy / Kennebec Savings Bank
Andrew Silsby

The property at 53 Baxter Blvd. includes a two-story, 15,000-square-foot building. Kennebec Savings — No. 11 on a list of Maine-based banks in the 2023 Mainebiz Book of Lists —renovated a former real estate office for the branch.

The location offers in-person as well as online and mobile services, providing consumer and commercial products and services, and wealth management products.

 “We know you are not just coming here to provide financial services to the people of Portland, but to be a part of the fabric of the community and give back socially to organizations that will benefit from it,” said Quincy Hentzel, president of the Portland Regional Chamber of Commerce.

Founded in 1870, Kennebec Savings Bank is a $1.6 billion state-chartered community bank, part of a mutual organization, with a team of nearly 200 employees. 

The new branch is the bank’s seventh, with others located in Augusta, Farmingdale, Freeport, Waterville and Winthrop. 

Kennebec Savings is among fewer than 4% of banks in the U.S. to receive a five-star rating from BauerFinancial, an independent bank rating firm, for over 30 straight years. 

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