The Financial Services team advised Maine Community Bank on the completion of its merger of equals with Gorham Savings Bank, forming the largest mutual savings bank operating exclusively in Maine. This significant milestone creates a new major player in community banking in Maine, with nearly $3 billion in assets and 21 branches throughout Androscoggin, Cumberland, and York counties. The combined institution will offer businesses and consumers enhanced financial capabilities and an even greater commitment to serving the communities of southern and central Maine. The combined institution operates under the name Maine Community Bank.
Maine Community Bank, headquartered in Portland, is the largest mutual savings bank operating exclusively in the state. Committed to the well-being of its communities, Maine Community Bank annually contributes thousands of volunteer hours and financial resources to community-based initiatives. By investing in local partnerships that promote financial literacy, stimulate economic growth, and foster entrepreneurship, the bank strengthens the fabric of the communities it serves.
The deal team was led by Samantha Kirby and included Alex Callen, Bill McCurdy, Eva Xu, Maddie Fuller, Bob Kester, Gregg Coughlin, Natascha George and Zoe Li.
For more information on the deal, please read the press release.