Photo / Courtesy Kennebec Savings Bank
The 150 State St. campus is the site of the bank’s headquarters in the Tappan-Viles Mansion, listed on the National Register of Historic Places in 1982.
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Kennebec Savings seeks to build five-story building at Augusta campus
Rendering / Courtesy Kennebec Savings Bank
Kennebec Savings Bank is proposing construction of a five-story building, at top, behind its headquarters in the Tappan-Viles Mansion at 150 State St. in Augusta.
Kennebec Savings Bank has unveiled plans to build a five-story building at its home base in Augusta, part of a campus expansion project expected to cost between $14 million and $19 million.
The campus at a 150 State St. is home to the bank's headquarters and a branch in the historic Tappan-Viles Mansion that houses its executive offices.
More space and parking
The proposal envisions a new building and additional parking on Western Avenue. The plan also calls for moving the branch lobby and drive-through at Tappan-Viles to the new facility, which will also have offices and spaces to meet with customers.
“As we continue to grow, it’s important that our facilities evolve in ways that enhance the customer experience, support our employees and strengthen our connection to Augusta,” said Andrew Silsby, president and CEO.
The bank has begun the process of securing approvals for the proposal and recently held a local information session for neighbors and civic leaders.
The permitting process has just begun, and the bank expects to move through the process over the next six months. With approvals, construction could start as early as mid-2026, with a goal of moving in by the end of 2027.
The architect is Platz Associates in Auburn. A general contractor hasn’t yet been chosen.
“Our goal is to design a campus that functions better for customers and employees, improves safety and traffic flow, and fits the character of the neighborhood,” said Craig Garofalo, executive vice president and chief operating officer. “We will continue to share updates as plans evolve and the public process moves ahead.”
Recent addition
Kennebec Savings also recently bought the 14,000-square-foot Maine State Grange building at 146 State St.
Photo / Courtesy Kennebec Savings Bank
Kennebec Savings recently closed on the purchase of the Maine State Grange building, next door at 146 State St.
Built in 1790, the edifice is structurally sound and the bank said it is committed to preserving it.
Its long-term use has not yet been determined. In the short term, the building will help improve traffic flow and parking during the construction project of the new building at 150 State St.
Banking on real estate
Kennebec Savings is not the only Maine-based bank retooling its real estate portfolio.
Camden National Corp. (NASDAQ: CAC) had several significant real estate transactions recently: the sales of a 35,234-square-foot office building at 245 Commercial St. in Rockport and a 4,408-square-foot retail building at 96 State St. in Augusta and a lease at 1 Market St. in Portland.
In 2023, Kennebec Savings jumped into the crowded Portland marketplace when it opened its southernmost branch at 53 Baxter Blvd.
Kennebec Savings is a $1.8 billion state-chartered community bank and part of a mutual organization, with 207 employees and offices in Augusta, Farmingdale, Freeport, Portland, Waterville and Winthrop.
The bank ranks No. 9 in the Mainebiz 2026 Book of Lists among the largest Maine-based banks, ranked by assets as of June 30, 2025; and No. 13 among banks with the largest market share in Maine, ranked by Maine deposits as of June 30, 2025.
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