Camden National to Take Over 15 Bank of America Branches

Catherine Pegram

Updated 2 years ago

Camden National Bank wants to take on 15 Bank of America branches, most of them in eastern and central Maine. President and CEO Gregory Dufour says the acquisition, which needs regulatory approval, is expected to be complete by the fall. Dufour says the $20 million deal would expand Camden National’s reach to 53 branches. The sale covers three Bank of America branches in Bangor and three in Augusta, as well as Brewer, Gardiner, Newport, Old Town, Rockland, Waterville and two in the Lewiston/Auburn area.Camden National also plans to re-open the Orono branch that Bank of America closed. Dufour says about 38,000 would change hands. “We looked making this an investment in the state of Maine. Because we really believe that community banking is founded on the principal of local decision makers helping customers, helping the local economy grow, as well as helping the communities in general through our philanthropic efforts.”For now, Bank of America customers can continue to bank at their regular locations. In the coming months, they’ll be re-issued debit and credit cards, as well as checks.Both companies will send out information about the changes.


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