H. Donald DeMatteis, Maine's superintendent of banking, does not believe that ba

Source

Portland Press Herald

Date

10-1-1994

Pages

6C

Abstract

H. Donald DeMatteis, Maine's superintendent of banking, does not believe that banks in rural Maine will feel much impact from a new law signed by President Clinton this week which allows banks to cross state lines to open new branches. Under existing Maine law, banks were required either to acquire an existing bank or to establish a new bank in order to do business in the state. Because big banks have high operating costs and must have large volume to meet their overhead, DeMatteis does not expect them to be attracted to rural markets.

Subjects

Banks and banking

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