The First receives regulatory approval for two bank branches
DAMARISCOTTA — The Office of the Comptroller of the Currency has approved The First’s purchase of the bank branch at 63 Union St. in Rockland from Camden National Bank. As part of the transaction, The First will acquire deposit accounts in the Rockland location as well as a small volume of loans.
The transfer is expected to take place in late October, and customers who bank at the existing Rockland branches of The First and Camden National will not be impacted. The branch The First is purchasing at 63 Union St. in Rockland is currently operated by Bank of America.
In addition, The First has received approval from the OCC to open a branch at 145 Exchange St. in Bangor in a building it is purchasing from Camden National. The First intends to open a full-service banking center at the 145 Exchange St. location in the first quarter of 2013. Camden National will be relocating from the 145 Exchange St. building to 80 Exchange St.
“As I noted when we announced these transactions in June, we are excited about the opportunities they provide for The First,” said Daniel Daigneault, president and CEO of The First, in a news release. “The branch at 63 Union St. will enhance our ability to serve our existing Rockland customers from a second location. We intend to retain the existing employees at this branch and will make the transition as easy as possible for our new customers. The Exchange Street building in Bangor is centrally located in the downtown business district, and we feel it offers an excellent opportunity for us to enter this expanding northern Maine market."
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