About Us

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 $3.5 million to area organizations over the last 10 years and continue to support the needs of the communities we serve.

Our Mission

As a mutual savings bank, our mission is to:

Remain a financially sound, independent community bank.
Provide financial services to meet the ever-changing needs of our customers and communities.
Offer superior products and services in a customer-focused culture while creating a respectful and rewarding work environment for all employees.

Letter from the CEO

Wow! It is wonderful to report that 2016 was another highly successful year for Saco & Biddeford Savings. This is particularly pleasing to me, as I will be retiring at the end of May but continuing on as a member of the Board of Directors. The statistics of strong growth in our core business of providing deposit services and making home and business loans in our communities only tell part of the story. We are proud of the fact that more and more customers turn to us for all of their financial needs. Critical components of that are the services provided by P&C Insurance¹ and S&B Financial Services.² P&C¹ again contributed over $500,000 to our record net income, while S&B Financial Services² continued to expand its customer base.

With this being my final report, I must convey a few numbers. Net Income exceeded $6.5 million, our third consecutive record year. Customer deposits grew over $25 million and loans outstanding increased by $14 million. Total assets now exceed $878 million! Meanwhile, we donated over $400,000 to causes in our communities.

And the success runs well beyond the numbers. Many customers enjoy new services, such as Apple Pay, Google Pay and Samsung Pay. We are also in the process of opening a Business Banking office on Commercial Street in Portland in the spring of 2017.

I look to the future of the Bank with great confidence, supported by a dedicated and knowledgeable team of employees, Corporators and Board of Directors. They, along with our loyal customers, have made me extremely proud to be a part of the Saco & Biddeford Savings family.

Kevin P. Savage

CEO

Download our most recent Annual Report

Annual Report 2016

^¹Insurance products and services offered by P&C Insurance are:

Not insured by the FDIC or any other Federal Government Agency
Not a deposit or obligation of, or guaranteed by the Bank
Subject to investment risks, including possible loss of principal amount invested

^²Securities 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:

Not insured by the FDIC or any other Federal Government Agency
Not a deposit or other obligation of, or guaranteed by the bank
Subject to investment risk, including possible loss of the principal amount invested

For our Diversity & Inclusion Statement click here.