According to a press release, Kennebec Savings Bank plans to expand further into Southern Maine.

The press release explains that the bank recently purchased property at 53 Baxter Boulevard in Portland and that they plan to begin renovations on the space in the near future.  Once the renovations are completed, and they have been given approval by the government, the plan is to open the new branch sometime in the first quarter of 2023.

The bank, which has been around since 1870, has been a staple of life in Maine for 152 years.  The $1.6 billion banks, which currently has seven locations spread across Central Maine (and Freeport), employees about 200 people.

The press release goes on to say that:

Kennebec Savings Bank is among less than 4% of banks in the U.S. to receive a five-star rating from BauerFinancial, the nation’s leading independent bank rating firm, for over 30 straight years. The Independent Community Bankers of America awarded Kennebec Savings Bank the Exceptional Community Bank Service Award in recognition of its outstanding service and creative volunteer efforts amongst the nation’s community banks.

We wish them all the best with the new location.

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