"Focus on Banking and Finance" piece on new bank branches opening in southern Ma

Chris Churchill

Source

Mainebiz

Date

12-8-2003

Pages

34-35

Abstract

"Focus on Banking and Finance" piece on new bank branches opening in southern Maine. Auburn-based Northeast Bank opened a branch designed to attract commercial customers in Portland, near the Old Port, but not in the thick of things. Banks are becoming more strategic in siting their branches, rather than simply clustering them in high-traffic areas. Banks want to open in areas where deposit availability is high, so they can fund loans in parts of the state where deposit availability is scarcer. Five years ago, on the assumption that Internet banking might lessen the need for branches, few branches were being opened, but technology has only added to the services branches offer. Bank mergers and a poor economy have led to a decrease in the number of branches in Maine.

Subjects

Banks and banking

Full text is not available here. Please contact the Library for a copy of the article.

Share

COinS