After a year of loans tied to a pandemic recession, Bangor Savings Bank is optimistic about the local economy.



As Bangor Savings Bank embarks on a new summer, executives said they were optimistic about the future of the Bangor region’s economy, especially after a year in which the bank focused on lending to help businesses weather the worst health crisis in a century.

The bank issued an annual report on Monday, showcasing the extent to which it has expanded its presence in both Maine and New Hampshire over the past year, including through $ 35 million. merger with Damariscotta Bank & Trust, which has expanded its presence in the mid-coast.

Of the $ 2.94 billion in loans issued by the bank in fiscal 2021 (which ended March 31, 2021), about $ 600 million came in nearly 8,000 loans under the North New England Small Business Payroll Protection Program. It provided an additional $ 1.71 billion in home mortgages in response to rising sales and property prices in Maine.


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