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Augusta-based Maine State Credit Union has promoted four employees to vice president and management positions.
More homes across the country have mortgages that far exceed their market value, but Maine ranks No. 2 among states with equity-rich properties.
KeyBank has promoted Meagan Calhoun to the position of area retail leader for southern Maine.
The company said it sold lower-yielding investments at a loss in the third and fourth quarters in order to adjust its balance sheet and to improve future earnings and profitability.
The expansion will serve the southern coast of Maine, and follows three branch openings and a fintech partnership over the past two years.
Loan growth and increased net interest margin contributed to the results for the Houlton-based bank firm, which has 16 offices in three Maine counties.
Stacey Young has joined the state's second-largest credit union after working in the banking and CU fields for more than 20 years.
Both companies have launched first-in-the-U.S. products, and are now looking to scale up.
The company's president and CEO said the year presented multiple challenges for the banking industry, including interest rate increases and concerns around failures of some large regional banks.
Bar Harbor Bank & Trust has promoted Morgan Forni to assistant vice president, branch relationship manager.
Bar Harbor Savings and Loan Association has promoted Rhonda Sawyer to vice president and senior loan officer and Dawn Nason to vice president, compliance and information security officer.
Bradford Paige will retire at the end of the year and be succeeded by the senior executive vice president and chief credit officer.
Trust and security are at the core of services provided by banks, write guest authors Steve deCastro and Jim Roche. In the old days, that meant bank vaults. Today, most bank robberies happen online.
The financial cooperative, which opened on the University of Maine campus in 1967, had primarily served members of Maine academic institutions since then.
Saco & Biddeford Savings, which has seven branches in Maine, has recently completed a series of leadership changes.
Randy Stolp brings over 22 years of credit union experience to his new role.