Founded in 1827, we've been in business longer than any other bank in Maine. We have branches located in Saco, Biddeford, Old Orchard Beach, Portland, Scarborough, South Portland and Westbrook. As a leader in community banking, we have contributed more than $3.8 million to area organizations over the last 10 years and continue to support the needs of the communities we serve.
Our Mission is to:
There’s a difference between living in a place and being a part of it.
Simply going about your days or having an impact on others’.
It’s about caring.
It’s about belonging.
It’s about feeling home … at home.
As a mutual savings bank, we take that word “mutual” seriously.
Working to our customers’ mutual advantage on things that are mutually beneficial.
Not just for our own good, but for the good of the community.
The people we serve helping us serve those around us.
Giving us a chance to give more.
Because when each of your customers is part-owner, too, everyone’s in it together.
That’s why our focus is on our people.
Our friends and family right here in our neighborhoods.
The dreams we dream. The hopes we hope.
The values and beliefs we all share.
It’s the people that are the heart of every community.
We see how much you love it here. And we do too.
As the oldest bank in Maine, we’ve been here for 190 years.
And we’ll be in it together for 190 more.
I am pleased to report on another excellent year of performance for our bank. Success can be measured in many ways, but before I get into the outstanding financial accomplishments of the past year it seems appropriate to step back and reflect on who we are and why we do what we do.
As a mutual savings bank, we are able to provide financial services at competitive rates with low fees, while balancing the responsibilities we have to our customers, our communities, our employees and the bank. We pride ourselves on delivering friendly and compassionate service, with a long history of "doing the right thing," which is what we believe a mutual bank should be about. "In It Together" is much more than a branding catch phrase to us. It is our commitment to work with each other and our customers to provide the best possible products and services while being the best member of the community that we can be. We strive to do this consistently, in both robust and challenging economic times.
We help our customers solve problems. Whether it involves structuring loan payment terms to match the ebbs and flows of a seasonal business, or helping to configure deposit accounts so that a customer’s needs are met, our flexibility has brought us strong, consistent growth.
As I indicated earlier, 2018 was an exceptional year for the bank. Customer deposits grew nearly $40 million while loan balances increased $50 million, as more and more individuals and businesses appreciate our approach. We enjoyed an extremely successful year for our insurance subsidiary, P&C Insurance1, as well as our financial services division, S&B Financial Services2. We exercised good stewardship by keeping operating expenses under control while investing in the development of our dedicated employees and in our communities through charitable contributions of more than $500,000. All of that led to a record level for net earnings of $6.85 million.
We are a community bank. We share common values with our customers and our employees. We care about people, about our communities, and about doing what is right. We are privileged and grateful to have the opportunity to work with customers in ways that are mutually beneficial.
President & CEO
¹Insurance products and services offered by P&C Insurance are:
2Advisory services may only be offered by investment adviser representatives.
Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with Saco & Biddeford Savings Institution where investment services are offered. Investments are:
Financial Professionals are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.
Cetera Investment Services LLC registered branch office: 252 Main Street, Saco, ME 04072
For our Diversity & Inclusion Statement click here.