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"You're seeing increased margin pressure related to competition for deposits, and competition from new market entrants," Susan M. Collins told the Maine Bankers Association at its annual meeting.
The goal of the competition is to encourage startups developing research, commercial and consumer applications in the fast-growing New Space industry.
Steven Hughes, a Navy veteran, has a 20-year background in information technology.
Phil Cohen, group manager for the commercial real estate teams in Maine and New Hampshire, steps in after the May retirement of Dan Thornton, who was Maine regional president for a decade — including time with People's United Bank, which M&T
A roundup of new hires, promotion and achievements at companies, health care operations and nonprofits around Maine.
Andrew Goodwin will oversee the bank’s overall information technology and security management.
Matthew Witten will be responsible for maintaining the bank’s cybersecurity, third-party vendor management, business continuity and disaster recovery planning.
Larry Wold will step down as the Maine market leader for TD Bank, which has the largest share of the state's banking market.
Machias Savings has $2.3 billion in assets, 300 employees and 15 branches from Portland to Caribou.
Michael O’Reilly will take over for Kim Twitchell, who served as NBT’s Maine regional president from 2015 until a promotion earlier this year.
The latest funding round brings pumpspotting's fundraising total to $3.35 million. The startup's plans for the $2.2 million include commercial product expansion and a foray into health care.
A roundup of new hires, promotions and achievements and businesses and nonprofits around Maine.
Before joining Maine State Credit Union, Nicole Hotchkin was a vice president and senior retail loan officer for Camden National Bank at its Belfast branch.
Today, Chase employs around 30 people at its retail branches in Portland, Falmouth, Westbrook and Saco.
The investment is recovered through savings on the consumers’ energy bills. The program “provides a very attractive pathway for businesses to finance energy improvements,” said the leader of Efficiency Maine.
The retail branch would be the first in Maine for Mascoma, which is headquartered in New Hampshire.
Sponsored by: GoNetspeed, a fiber internet provider
Despite economic uncertainty and sharp swings in the stock market, Americans' retirement accounts grew in size during the second quarter of 2023, Fidelity Investments recently reported. The quarter was the third consecutive period to show an increase in account balances.
The average IRA balance grew to $113,800, up 5% from the previous quarter and a 41% increase from 10 years ago, according to nationwide data compiled by Fidelity.
The average 401(k) balance jumped to $112,400, a 4% increase from the previous quarter and a 39% increase from 10 years ago.
At the same time, the average 403(b) balance increased to $102,400, 5% more than the amount in the previous quarter and a whopping 65% spike from 10 years ago.