Notice: Due to renovations at our Saco Main Street branch, our customer parking lot and the buildings' rear and side entrances will be closed daily from 6:00 a.m. to 12:00 p.m. Starting September 18th, the Drive-thru will be closed, and is scheduled to reopen on Friday, September 22nd. To learn more Click Here.

Saco & Biddeford Savings Announces New Leadership in Old Orchard Beach Branch

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Saco & Biddeford Savings Institution has promoted Old Orchard Beach native Mike Rague to branch manager of his hometown branch.


Rague is a graduate of Old Orchard Beach High School and Emmanuel College in Boston. Before the promotion, he held the title of assistant branch manager, a role that Thornton Academy graduate Tyler Lebel will take over with Rague's promotion. 

“Applying at Saco & Biddeford Savings Institution was one of the best decisions I ever made," Rague said. "Finding a career in my hometown gave me the opportunity to serve the communities I grew up in, and I love so much.”

As Old Orchard Beach continues to grow, Rague’s goal is to listen to the people, businesses, and organizations as they continue to expand and find ways Saco & Biddeford Savings can help.  

Lebel earned an accounting degree from Merrimack College in Massachusetts after graduating from Thornton Academy in 2015. He joined Saco & Biddeford Savings as a seasonal employee and turned the opportunity into something more permanent when he became a full-time customer relationship associate. 

“I have exceptional co-workers, and I’ve had the chance to work in every one of our branches,” said Lebel. “The customers we have in Old Orchard have deep community roots, and that’s what I love most about working in this location.” 

The management changes follow the retirement of Carolyn Lamontagne after 43 years of service to the Old Orchard Beach community.  


Founded in 1827, Saco & Biddeford Savings is Maine’s oldest bank. For 195 years, SBSI has continued to meet the ever-changing needs of the customers and communities it serves. Fulfilling its commitment to mutuality, SBSI has contributed more than $4.7 million to area organizations over the last 10 years. For more information, visit, Instagram at @SBSavings, Facebook at @sacobiddefordsavings, or visit one of their locations in Saco, Biddeford, Old Orchard Beach, Portland, Scarborough, South Portland or Westbrook. Member FDIC and an Equal Housing Lender.