Bar Harbor Bank & Trust plans to open a Portland loan office

Posted by on Oct 6, 2018 in Local News | Comments Off on Bar Harbor Bank & Trust plans to open a Portland loan office

Establishing its first brick-and-mortar presence in Cumberland County, Bar Harbor Bank Trust will open a commercial loan office in Portland and plans to announce the site in the coming weeks.

Two former NBT Bank executives, Daryl Wentworth and Joe Delano, have joined Bar Harbor and will work out of the new office, the bank said Wednesday in a news release.

The office will focus on serving middle-market companies and real estate projects throughout Maine, New Hampshire and Vermont, according to Bar Harbor President and Chief Executive Officer Curtis Simard. Other financial products will also be available.

“This is part of our continued strategy of targeted expansion while advancing market share to include relationship-based ancillary product sales. As a result, treasury and derivative sales as well as wealth management offerings will be included,” Simard said in the release.

Wentworth, who will lead the office, most recently served as a regional commercial banking manager at NBT in Portland. Previously, he worked for KeyBank, State Street Bank and Citizens Bank.

Delano was a senior commercial relationship manager for NBT’s Portland office.

Bar Harbor, a wholly owned subsidiary of Bar Harbor Bankshares (NYSE American: BHB), operates 49 branches in Maine, New Hampshire and Vermont, with a Topsham branch currently its closest to Portland.

The bank is headquartered in Bar Harbor and has assets of over $3.5 billion, making it the third-largest Maine-based bank. Two years ago, it acquired Lake Sunapee Bank of New Hampshire.

http://www.mainebiz.biz/article/20161026/news0101/161029960/bar-harbor-bank-merger-with-lake-sunapee-bank-approved

Article source: http://www.mainebiz.biz/article/20181005/NEWS01/181009963/bar-harbor-bank-&-trust-plans-to-open-a-portland-loan-office