Banking Law Update

Information and Discussion from Verrill Dana

Verrill Dana's Banking & Financial Services Group posts timely updates and commentary on developments affecting banks and financial institutions. This blog is edited by James Cohen with contributed content from across the firm. 

Latest from Banking Law Update

Wednesday Jun262019 Bangor Savings Bank ends 2018 with a 38% increase from 2017.  (BDN 6.21.19) Bar Harbor Trust Services was added to the lawsuit involving theft by Robert K. Lindell, Jr.  (BDN 6.11.19)  Canada’s largest banks are looking outside Canada to continue growing.  (Bloomberg News 5.24.19) Plans to open Maine Harvest Credit Union this summer will be focused on famers and food entrepreneurs.  (Mainebiz 5.22.19) Bangor Savings Bank held opening ceremony for its…
Friday Apr122019 Wells Fargo CEO Tim Sloan was called to testify before House Financial Services Committee hearing.  (PPH 3.11.2019) Forbes rates Bangor Savings Bank as one of the “World’s Best Banks.”  (Mainebiz 3.12.201) Matthew Fleming became Down East Credit Union’s chief financial officer on April 1.  (Mainebiz 4.8.2019) Key Bank’s Winthrop branch office is closing. (Central Maine 4.7.2019) David Cyr will replace retiring John Witherspoon as president and CEO of Skowhegan…
Tuesday Feb052019 Unsuccessful attempt at hacking is being investigated by the FBI.  (BDN  1.28.19) Steward Partners Global Advisory LLC opens office in Portland.  (Mainebiz 1.25.19) Four of Key Bank’s branches are schedule to close by April.  (Central Maine 1.23.19) Kierston Van Soest was appointed to the New England Advisory Council.  (Central Maine 1.24.19) Rise in sea levels creates loss of appreciation of coastal waterfront properties.  (Central Maine 1.22.19) Modest…
After a year full of changes for employers paired with a new governor in Maine, Verrill Dana will reflect on recent legal developments in labor and employment law and what the new year might bring during its 2019 Annual Employment Law Update. The full-day conference will take place on Thursday, January 31 at The Westin Harborview Hotel in Portland. The all-day event will begin with a panel discussion of a 2018 labor and employment year…
Tuesday Jan082019 Steve deCastro becomes CEO and President of Gorham Savings Bank.  (PPH 1.2.19) Camden National Bank makes technology changes to meet the growing needs of its customers.  (PRNewswire 12.11.18) TD Bank rated first for SBA Loans in several states, including Maine.  (Guru Focus 12.11.18) Todd Mason, President and CEO of Maine Credit Union League, joins the Maine State Chamber of Commerce’s Board of Directors.  (MaineBiz 12.10.18) Manchester, NH is drawing…
Monday Oct292018 Michael Griffin, Executive Director of JP Morgan Chase & Co., leads a new commercial banking industry in Portland.  (Mainebiz 10.26.2018) Maine Harvest Credit Project becomes Maine’s 56th credit union and first exclusively for farmers and food producers.  (Mainebiz 10.16.2018) Maine home foreclosures continue to decline.  (BDN 10.11.2018) Curtis Simard, President and CEO of Bar Harbor Bankshares, announces plans are being made for a Portland Commercial Loan Office.  (Mainebiz 10.5.2018)…
Wednesday Aug152018 FBI issues warning of potential cybercrime that could be worth millions stemming from fraudulent ATM cards. (News Center Maine 8.14.2018) Bank mergers and acquisitions are lower in the Northeast than in other regions.  (American Banker 7.30.2018) President and CEO Bob Montgomery-Rice announces the opening of the first building at the Bangor Savings Bank’s waterfront headquarters.  (BDN 8.1.2018) Jeanne Hulit is promoted to President and CEO of Maine Community Bancorp which…
Tuesday Jul242018 Commercial loans increased for Bar Harbor Bankshares in the second quarter.  (MaineBiz 7.23.2018) President Trump is unhappy with the Federal Reserve increasing interest rates.  (BDN 7.20.2018) Paul Andersen, CEO of Androscoggin Bank, announces Neil Keily as President.  Paul Andersen plans to be the Chairman of Board and Neil Keily take on the responsibilities of CEO and President at the end of 2019. (Sun Journal 7.19.2018) 30-Year mortgage rates are the…
Friday Apr202018 Wells Fargo Bank $1 billion fine is among the largest set by regulators.  (Central Maine 4.19.2018) Federal Reserve Chairman Jerome Powell maintains that slow and steady increases in rates is the right course of action to strengthen the economy.  (PPH 4.7.2018) Lake Sunapee Bank in New Hampshire will now be known as Bar Harbor Bank & Trust.  (Valley News 4.8.2018) Maine’s banking industry is seeing changes in leadership as women…
Monday Mar052018 Maine banks encountered a positive 2017 and 2018 looks promising.  (The Ellsworth American  3.5.2018) Federal Reserve Chairman Jerome Powell plans gradual increase in interest rates.  (PPH 3.1.2018) Equifax breach affected 147.9 million consumers which is more than initially reported.  (BDN 3.1.2018) Lincoln J. Merrill becomes chairman of MaineHousing’s board of commissioners.  (MaineBiz 2.27.2018) New tax laws means Fannie Mae will need to request taxpayer funds from the US…