Maine credit unions call off merger
A planned combination of Maine State Credit Union in Augusta and Midcoast Federal Credit Union in Freeport has been nixed despite receiving approval from regulators. ]] ... Read full article
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Maine credit unions wrap up 18-month merger process
Discussions to combine Penobscot County Federal Credit Union and The County FCU began in June 2019 but the deal was not completed until the end of 2020. ... Read full article
Maine Savings launches two-year succession plan
The process will see the state's largest credit union split its president and CEO roles until longtime chief executive John Reed retires in January 2023. ... Read full article
Maine-Illinois credit union merger could foreshadow a trend
Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players. ... Read full article
How much bang did CUNA get for its 3 million bucks on Election Day?
The trade group supported 11 incumbents running for re-election, including the embattled Maine Sen. Susan Collins, and may have helped Republicans maintain control of the Senate. ... Read full article
Maine State, Midcoast FCU plan merger
The deal is expected to close sometime next year but is still subject to regulatory and member approval. ... Read full article
Maine mutual banks plan merger
Kennebec Savings Bank will have $1.3 billion in assets after it absorbs Kennebec Federal Savings and Loan Association of Waterville. ... Read full article
Bangor Bancorp to buy Damariscotta Bankshares in merger of Maine mutuals
Bangor will pay $35 million in cash to gain branches in five communities. ... Read full article
Bar Harbor entering central Maine with branch deal
The company will buy eight locations, along with loans and deposits, from People's United. ... Read full article
Maine bank eliminating Fed oversight by ditching holding company
Northeast Bancorp also expects the move to make it more efficient. ... Read full article
Proposed Maine credit union to focus on farmers
The credit union's organizers believe there is a funding gap in the state for agriculture — and they want to fill the void. ... Read full article
Why bank M&A has been so quiet in the Northeast
Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis. ... Read full article
Equifax reaches deal with 8 states on steps to avoid future breaches
Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties. ... Read full article
HarborOne expands New England mortgage business with latest acquisition
The Massachusetts bank — and former credit union — bought Cumberland County Mortgage in Maine. ... Read full article
For banks, DOJ reversal on pot will have 'chilling effect'
Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries. ... Read full article
Bangor Bancorp in Maine to expand in N.H. with $45M acquisition
The mutual, which agreed to buy First Colebrook Bancorp, had recently opened a limited-service branch in Portsmouth, N.H. ... Read full article