Camden National Bank Announces Expansion to Augusta

Bank Purchases Property at 22 Western Avenue

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Jan 09, 2012, 10:21 ET

AUGUSTA, Maine, Jan. 9, 2012 /PRNewswire/ -- Camden National Bank President and Chief Executive Officer Gregory A. Dufour has announced plans for the bank to expand into the Augusta, Maine market. "We have many strong relationships with Augusta-area businesses, government agencies and people, which makes this a natural expansion of our franchise," said Dufour.

Camden National Bank purchased the building located at 22 Western Avenue in Augusta on Thursday, December 29, 2011. The property will undergo significant renovations during 2012. The branch, which will be the 39th Camden National Bank location in Maine, will be a full-service bank, featuring a two-lane drive-up and a 24-hour ATM. Camden National will bring its full suite of products and services to the Augusta market, including fee-free debit cards and free ATMs worldwide, online and mobile banking, checking and savings accounts and a variety of loan products.

"Our plan is to create a modern, full-service branch to serve individuals, businesses and government agencies," said June B. Parent, Camden National's executive vice president of retail banking. "In addition to incorporating the latest technology in our ATM, we'll start with four new staff members who will provide first-class customer service to the Augusta market."

Nancy Tracy, Camden National Bank vice president and retail regional manager for southern, western and central Maine, will be overseeing the Augusta branch. Tracy joined Camden National last year with more than 17 years of banking experience, mainly in the Augusta and Waterville markets. Since joining Camden National, Tracy has maintained relationships with business customers throughout the area, and will continue to do so from this new location.

Camden National Bank's expansion into the Augusta market is part of the bank's ongoing commitment to helping Maine people and businesses succeed. Camden National was recently recognized by the Finance Authority of Maine (FAME) as its "Financial Institution of the Year." FAME recognized Camden National for its use of FAME products – the bank partnered with FAME on 56 loans totaling over $16 million, which helped create 87 Maine jobs and retain an additional 561 jobs – and for its commitment to the community. On average, Camden National stakeholders give more than 18,000 hours of service to community and non-profit organizations throughout Maine each year.

Camden National plans to open the Augusta branch by late spring of this year.

Camden National Corporation, headquartered in Camden, Maine, is the holding company employing more than 400 Maine residents for two financial services companies including Camden National Bank and the wealth management company, Acadia Trust, N.A. Camden National Bank is a full-service community bank with a network of 38 banking offices throughout Maine. Acadia Trust offers investment management and fiduciary services with offices in Portland, Bangor and Ellsworth. Located at Camden National Bank, Camden Financial Consultants offers full-service brokerage and insurance services.

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SOURCE Camden National Bank