Knox County bank deposits jump

By Stephen Betts | Oct 07, 2019

Deposits held in Knox County banks jumped nearly 11 percent during the past year.

Total deposits in 21 bank branches throughout the county reached a record a record $1.7 billion as of June 30, 2019, ccording to the Federal Deposit Insurance Corporation.

This compares to $1.52 billion in 2018 which was down slightly from 2017.

The increase in the Knox County deposits exceeds the 8 percent increase statewide in 2017, with accounts totaling $31.8 billion.

Camden National Bank saw its share of the market in Knox County increase to 66.3 percent, the highest percentage over the past 25 years.

The bank, with six branches in Knox County, had deposits totaling $1.13 billion.

This is up from 2018 when it held deposits of $955 million which translated to a share of 62.9 percent of all deposits in Knox County.

Twenty-five years ago, Camden National had slightly less than 50 percent of the market.

The second largest bank in Knox County, in terms of deposits as of June 30, 2019, was First National Bank  which had deposits of $173 million at four branches. That amounted to nearly 10 percent of the market.

TD Bank, National Association had deposits totaling nearly $109 million at its two branches.

Key Bank National Association had deposits of $62 million combined at its two branches in Knox County.

Bangor Savings Bank had deposits of slightly more than $59.3 million at its two branches in the county.

Rockland Savings Bank had deposits of nearly $55 million at its branch.

Machias Savings Bank had deposits of nearly $46 million at its branch.

Damariscotta Bank & Trust Co. had deposits of $40 million at its two branches in Knox County.

And Bar Harbor Bank & Trust had deposits of nearly $25 million at its branch.

Comments (2)
Posted by: Dale Hayward | Oct 07, 2019 19:14

How much was imported vs. local ? I bet not many are locally earned. Except maybe government employees.

 



Posted by: Francis Mazzeo, Jr. | Oct 07, 2019 12:41

And we owe it all to "The Donald"......Not.



If you wish to comment, please login.