The American Bankers Association has just issued a report entitled “The Public Benefits of Banking Cannabis Businesses.”  The report was issued July, 2019, and is available here. The ABA Report highlights the challenges of preventing cannabis-related businesses from accessing the banking system, particularly as the industry continues to grow at a rapid pace. The Report notes that the legal cannabis industry in the US is approximately $10 billion per year. If this industry is…

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)…