Bangor Savings Bank has been a reliable partner for over 170 years. It’s a community-focused bank with over $7 billion in assets. They offer a wide range of services for both personal and business needs.
From everyday banking to wealth management and payment solutions, Bangor Savings Bank has you covered. They aim to help you reach your financial goals with their customer-focused approach.
Table of Contents
Understanding Bangor Savings Bank’s Legacy and Services
Bangor Savings Bank has been a key player in Maine since 1852. It now manages over $7 billion in assets. The bank has 69 branches in Maine and New Hampshire, and offices in Massachusetts.
History and Growth Since 1852
Since 1852, Bangor Savings Bank has focused on helping Maine communities. It has grown a lot, with a $1.1 billion increase in loans in Fiscal Year 2024. This brings its total to over $9 billion in five years.
The bank welcomed over 22,500 new customers. It also opened more than 33,000 new accounts, including 6,000 for businesses. This shows it can meet the financial needs of its community.
Current Asset Management and Regional Presence
Bangor Savings Bank has a big presence in Northern New England. It has 69 branches in Maine and New Hampshire. It also has offices in Massachusetts for business and loans.
This wide reach helps the bank offer local banking services. It serves individuals and businesses across the region.
Community Investment Initiatives
Bangor Savings Bank invests a lot in its communities. In the last fiscal year, it gave over $3.5 million to local causes. Its employees also volunteered over 11,000 hours with more than 530 organizations.
This shows the bank’s strong commitment to the communities it serves. It’s dedicated to making a positive impact.
| Key Metrics | FY 2024 Performance |
|---|---|
| Total Loan Production | $1.1 billion increase, totaling over $9 billion in the last five years |
| New Customers | Over 22,500 new customers |
| New Consumer Deposit Accounts | Over 33,000, including 6,000 business accounts |
| Total Deposit Balances | $5.5 billion |
| Net Income | $15.3 million |
| Residential Mortgage Loan Production | $450 million, supporting 487 first-time homebuyers |
| Increase in Client Assets Under Management | $300 million, reaching $2.7 billion in total assets |
| New Core Deposit Accounts for Local Businesses | 18.7% of total new accounts |
| Business Clients Utilizing Payroll and HR Services | Over 4,700 |
| Business Clients Utilizing Merchant Card Processing | Over 2,500, processing over $1.3 billion in sales volume |
| Community Development Loans Issued | 57 new loans totaling $69 million, with $25 million devoted to 14 affordable housing projects |
| Sponsorships, Donations, and Grants | Over $3.5 million across Northern New England |
| Employee Volunteer Hours | Over 11,000 hours with over 530 local organizations and initiatives |
Bangor Savings Bank is a trusted Maine banking services provider. It’s known for its commitment to the community and innovative financial solutions. It’s a true community-focused bank in the region.
Comprehensive Personal Banking Solutions
At Bangor Savings Bank, we know that banking services are more than just savings accounts and checking accounts. Our team works hard to give you a wide range of financial solutions. These are tailored to meet your unique needs and goals.
Looking to grow your savings, manage your daily finances, or plan for the future? Bangor Savings Bank has you covered. Our personalized banking ensures you get the attention and advice you need. We offer clear fees and competitive rates to help you make smart choices.
We also provide educational resources and planning support. This helps you at every step of your financial journey. Our team is ready to guide you through personal finance, from budgeting to retirement planning.
“Bangor Savings Bank has been an invaluable partner in my financial planning. The personalized attention and guidance I’ve received have been essential in helping me make sound decisions and reach my savings goals.”
–Sarah, Bangor Savings Bank customer
Start your journey towards a secure financial future with our personal banking services. Contact us to find out how Bangor Savings Bank can meet your individual banking needs.
Innovative Digital Banking with pling™ for Teens
Bangor Savings Bank wants to help the next generation manage their money well. They’ve created pling™, a digital banking app for teens aged 13 and up. This app changes how young people use online banking and learn about financial education.
Features and Parental Controls
The pling™ app has everything teens need in one place. They can get real-time updates, see their spending history, and use budgeting tools. Parents can also keep an eye on their child’s spending and set limits.
Financial Education Through Technology
Bangor Savings Bank knows how important financial education is. They use pling™ to teach teens about money. The app’s tools help teens understand their spending and value money more.
Security and Transaction Management
Keeping teen finances safe is a big deal for Bangor Savings Bank. The pling™ app has strong security and no overdrafts. This helps teens learn to spend wisely and avoid financial problems.
With pling™, Bangor Savings Bank is making a big impact. They’re offering digital banking that teaches teens to manage their money. The app’s features are all about banking, budgeting, and learning about money. It’s helping shape the next generation of financially savvy people.
Mortgage and Home Lending Options
Buying a home is a big financial step. At Bangor Savings Bank, we offer many mortgage loans and home lending options. Our team of 39 mortgage loan officers will help you find the best interest rates and service.
We have fixed-rate and adjustable-rate mortgages, FHA, VA, and Rural Housing loans. We also help with down payments, giving nearly $1.2 million in 2023. This helps first-time buyers and addresses the racial gap in homeownership.
| Mortgage Loan Officers | Percentage Breakdown by Service Area |
|---|---|
| 39 | Maine (ME): 77.78% New Hampshire (NH): 15.38% Massachusetts (MA): 7.69% |
Our loan officers have many ways to contact you, like phone, email, and office addresses. 23.08% of them are Vice Presidents. This shows their expertise and dedication to serving you well.
The home-buying process can feel overwhelming. But we’re here to help every step of the way. From pre-approval to closing, we’ll make it smooth and clear. We promise clear expectations, timely updates, and a loan decision in two business days.
“Bangor Savings Bank’s mortgage team has been instrumental in helping us achieve our dream of homeownership. Their attention to detail and commitment to our needs made the process seamless and stress-free.”
Whether you’re buying your first home or investing, Bangor Savings Bank is here for you. We offer mortgage loans and home lending solutions to make your dream a reality. Contact us today to learn about our competitive interest rates and custom financing options.
Business Banking and Commercial Services
At Bangor Savings Bank, we get the unique financial needs of businesses in our area. That’s why we offer a wide range of business banking and commercial services. These are designed to help our small business clients grow and succeed.
Corporate Banking Solutions
We provide corporate banking solutions that help businesses manage their finances better. Our tools help with cash flow, operations, and reaching financial goals. We offer everything from deposit accounts to advanced cash management services, tailored to your business’s needs.
Merchant Services and Payment Processing
For any business, accepting payments smoothly is key. Our merchant services and payment processing give you top-notch tech and secure platforms. This makes transactions fast, reliable, and affordable, improving your customer’s experience and making your day easier.
Business Lending Programs
Looking to grow, invest in new equipment, or manage cash flow? Our business lending programs have got you covered. Our team works with you to understand your needs and create custom financing solutions. This ensures you have the resources to move your business forward.
At Bangor Savings Bank, our commitment to the local community drives everything we do. We know the region well and offer a personalized approach. We’re dedicated to helping businesses in Northern New England thrive and succeed.
| Service | Key Features |
|---|---|
| Corporate Banking Solutions | Deposit accounts Cash management tools Payment processing Customized financial solutions |
| Merchant Services and Payment Processing | Secure payment platforms Fast and reliable transactions Enhanced customer experience Cost-effective solutions |
| Business Lending Programs | Expansion financing Equipment investment Cash flow management Personalized loan solutions |
“Bangor Savings Bank has been an invaluable partner in helping our business grow and succeed. Their deep understanding of our local market and commitment to providing tailored financial solutions have been instrumental in our continued success.”
– John Doe, CEO of ABC Enterprises
Wealth Management and Investment Services
At Bangor Savings Bank, we know how vital it is to grow and keep your wealth. Our wealth management and investment services are designed to meet your needs. We help you reach your financial goals.
Bangor Wealth Management and Bangor Wealth Management of New Hampshire, LLC, offer a wide range of wealth management, investment services, and financial planning. Our team has the experience and local knowledge to create plans just for you. They focus on your unique goals and preferences.
| Service | Description |
|---|---|
| Wealth Management | Our wealth management solutions include portfolio management, retirement planning, estate planning, and tax optimization strategies to help you preserve and grow your assets. |
| Investment Services | We provide a range of investment services, including asset allocation, investment advisory, and access to a diverse range of investment options to help you build a diversified portfolio. |
| Financial Planning | Our financial planning services help you develop a comprehensive plan to achieve your financial goals, including budgeting, debt management, and college savings strategies. |
We combine local knowledge with tailored strategies to empower you. This way, you can make informed decisions about your financial future. Whether you aim to increase your wealth, plan for retirement, or secure your legacy, Bangor Savings Bank is here to support you.
“Bangor Savings Bank’s wealth management team has been instrumental in helping me achieve my long-term financial goals. Their personalized approach and attention to detail have been invaluable.” – John Smith, Bangor Savings Bank client
Local Community Impact and Partnerships
Bangor Savings Bank is deeply committed to supporting the communities it serves. It does this through strategic community investment and dynamic partnerships. The bank plays a key role in driving regional economic development and enriching the lives of local residents.
Regional Economic Development
As a leading financial institution in the region, Bangor Savings Bank actively contributes to economic growth and prosperity. The bank partners with organizations like MaineHousing and Rural Development to support affordable housing initiatives and assist first-time homebuyers. In the previous year, Bangor Savings Bank and The Bangor Savings Bank Foundation invested more than $3.5 million into the region through sponsorships, grants, and partnership programs.
Community Support Programs
- The Bangor Savings Bank Foundation’s Community Matters More program awarded over $140,000 in grants to 44 nonprofit organizations in 2024, including Pay It Forward For Kids and Austin17 House.
- Darling’s Auto Group donated a van to the Courageous Steps Project, a non-profit organization that has been serving the community for over a decade and recently announced a partnership with the Husson University Occupational Therapy program.
- The Courageous Steps Project also received an $8,000 donation from Versant Power to support their Technology and Equipment expansion project, and they have awarded contributions through the Wishlist Initiative to support schools and groups in their region.
Educational Initiatives
Bangor Savings Bank is committed to supporting educational opportunities and enriching the lives of students in its local communities. The bank’s partnerships with organizations like the Courageous Steps Project have enabled the expansion of scholarship programs, education enrichment initiatives, and the celebration of milestones such as the 40th anniversary of the Green House Village Preschool. The bank’s support has helped students like Annie Roach pursue their educational dreams at institutions like Bates College.
“Bangor Savings Bank’s unwavering commitment to community investment and local banking services has been a driving force behind the success of many non-profit organizations and educational initiatives in our region. Their partnership and support have been truly transformative.”
Online and Mobile Banking Features
Bangor Savings Bank offers online banking and mobile banking features. These features give customers easy access to their accounts. The bank’s digital services aim to mix technology with personalized banking.
The pling™ app lets teens use budgeting tools and manage transactions securely. It helps them learn about money and spending. Parents can also guide them with controls.
The bank’s mobile banking lets you check balances and history. You can also transfer money and pay bills. The app even shows you where to find branches or ATMs.
The Bangor Savings Bank mobile app has a 4.7 out of 5 rating from over 6,700 reviews. Users like it, but the bank keeps working to make it better. Recent updates have improved the app.
Secure and Convenient Digital Banking
Bangor Savings Bank’s digital financial services are safe and easy to use. The bank’s online and mobile platforms protect your information. This gives you peace of mind.
Managing your money is easy with Bangor Savings Bank’s digital tools. You can check your accounts and transfer money anytime. The bank helps you stay on top of your finances easily.
“The mobile deposit function generally works well, except for occasional difficulties in detecting the corners of the check. Overall, a great app with a user-friendly interface.”
Conclusion
Bangor Savings Bank is a reliable financial partner for people and businesses in New England. It has a long history since 1852. The bank mixes old values with new services, always putting customers first and investing in the community.
It offers many banking options, like personal accounts and digital tools like pling™. Bangor Savings Bank also helps businesses and manages wealth. It keeps up with changing financial needs of its customers.
The bank has a wide range of products, including checking and savings accounts. It has competitive rates and flexible terms. This helps you make smart choices and reach your financial goals, whether you’re an individual or a business owner.
Bangor Savings Bank is deeply committed to the community. It supports local development, community programs, and education. By working with local groups and improving community health, the bank shows it’s a true financial partner.
FAQ
What is Bangor Savings Bank’s history and growth?
Bangor Savings Bank started in 1852. It now manages over $7 billion in assets. The bank has 69 branches in Maine and New Hampshire. It also has offices in Massachusetts for business and loans.
How does Bangor Savings Bank serve its local community?
Bangor Savings Bank invests $3.5 million each year in the community. This includes sponsorships, grants, and partnerships. It shows the bank’s commitment to helping the community.
What personal banking services does Bangor Savings Bank offer?
Bangor Savings Bank offers many personal banking services. This includes savings and checking accounts. The bank focuses on personal service and clear fees and rates.
What is pling™ and how does it benefit teens?
Bangor Savings Bank created pling™ for teens aged 13 and up. It’s a digital banking app that helps with budgeting and payments. Parents can manage their teen’s spending and teach them about money.
What home lending options are available from Bangor Savings Bank?
Bangor Savings Bank has many home loan options. This includes fixed and adjustable-rate mortgages, FHA, VA, and Rural Housing loans. They help with the home-buying process from start to finish.
What business and commercial banking services does Bangor Savings Bank provide?
Bangor Savings Bank offers a wide range of business services. This includes corporate banking, merchant services, and payment processing. They also have business lending programs.
What wealth management and investment services are offered by Bangor Savings Bank?
Bangor Savings Bank has wealth management and investment services. These are through Bangor Wealth Management and Bangor Wealth Management of New Hampshire, LLC. They provide financial planning, investment advice, and wealth management.
How does Bangor Savings Bank support the local community?
Bangor Savings Bank supports the local economy through community programs and education. They partner with local groups to help with affordable housing and first-time homebuyers.
What online and mobile banking features does Bangor Savings Bank offer?
Bangor Savings Bank has great online and mobile banking. Customers can easily access their accounts and services. They also have the pling™ app for teens.
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