Award marks Bank’s recognition as top business lender for six of the past seven years.
Camden, Maine, November 23, 2015 — Based on its commitment to the community and volume of loans throughout the course of the year, Camden National Bank has been named “Financial Institution of the Year” by the Finance Authority of Maine (FAME). This marks the sixth year that Camden National has received the distinction out of the last seven. Camden National Bank was honored during FAME’s 16th annual “Showcase Maine” event, which took place in Portland on November 19th.
“Camden National Bank takes a tremendous amount of pride in receiving this award,” says Greg Dufour, president & chief executive officer of Camden National Bank. “As a result of our recent expansion into southern Maine, we will be able to assist Maine businesses with an even greater fortitude moving forward. It is incredibly gratifying to partner with these businesses and watch them thrive as vital members of their local communities.
Cheryl Carrier of Toddle Inn Child Care is one business owner greatly impacted by these loans. In the midst of expanding back in 2008, the Toddle Inn had to put everything on hold due to the recession. Over the past year, Camden National Bank has allowed Cheryl to refinance of all of her loans and reduced her interest rates by 50 percent. “Camden National Bank has given us the opportunity to complete our expansion improve all of our classroom offerings,” said Carrier. “We’ve also been able to hire 25 new employees and offer our entire staff better benefits, all without having to raise our rates. Because of Camden National, we’re able to provide a greater service to our customers; they’ve made a world of difference.”
Carrier’s loan is one of many that helped earn Camden National Bank the “Financial Institution of the Year” distinction from FAME, whose focus is to help businesses access capital to grow, expand and succeed by providing insurance to banks to help them assist borrowers. In 2015, the Bank partnered with FAME on 62 loans that impacted 45 companies in the state of Maine and helped create or retain a total of 683 jobs.
“We are pleased to again recognize Camden National for their strong partnership with FAME. Over the past year, Camden has partnered with FAME on 62 loans totaling over 22.2 million,” said Bruce Wagner, chief executive officer of FAME. “This has helped to create jobs and grow businesses, and also demonstrates an impressive commitment to growing Maine's economy."
With 64 banking centers and lending offices in Manchester, New Hampshire, as well as Braintree and Boston, Massachusetts, the Camden National Bank has approximately $3.6 billion in total assets, $2.4 billion in total loans, and $2.6 billion in total deposits. This year marks the Bank’s 140th year in business.
About Camden National Bank
Headquartered in Camden, Maine, Camden National Corporation is the holding company of Camden National Bank, and Acadia Trust, N.A. Camden National Bank is a full-service community bank with a network of 64 branches and 85 ATMs throughout Maine, as well as with state-of-the-art online and mobile banking resources. Acadia Trust offers investment management and fiduciary services through its offices in Portland, Bangor and Ellsworth. Healthcare Professional Funding, a subsidiary of Camden National Bank, is a leader in financing for providers of dental, veterinary and eye care. Camden Financial Consultants, a division of Camden National Bank, provides full-service brokerage and insurance services. To learn more, visit www.CamdenNational.com.