Sharing results from our Annual Meeting

Last week, Chairman Pasquale Maiorino, Esq. welcomed Androscoggin Bank's Board of Directors, Corporators and employees to our 142nd Annual Meeting, held at the Ramada Inn and Conference Center in Lewiston.

Our President and CEO, Paul H. Andersen, reported that at year-end, Androscoggin Bank’s 2011 profit was the third highest in company history. Net income was more than $3.8 million and exceeded 2010 by more than $600,000. The Bank’s total assets grew by $14.2 million to $707.1 million.

And we have much to look forward to this year, as well.

Androscoggin Bank’s 2012 strategic goals encompass four pillars of excellence: People, Quality, Client, and Performance. We are continuing to embrace innovative new technology solutions to better serve customers, and adapting a “dialogue banking” concept. Beginning in February 2012, the Minot Avenue, Auburn, ME branch will undergo a renovation. Also, to further enhance the customer experience, Androscoggin Bank is working to introduce new mobile banking solutions in Q1 2012.

In 2011, Androscoggin Bank maintained its commitment to the community donating nearly $190,000 to organizations across the State of Maine. We are proud to continue this tradition in 2012, and look forward to making a positive impact in our community.

Here's to a great year ahead!

Androscoggin Bank: More Local Town Governments and School Districts Are Choosing Us

Recently, we announced a growing number of local towns and school districts are taking advantage of our government and municipal services offerings. This is news we're very proud to share. In the past four months alone, six new entities in Maine have moved their business to Androscoggin Bank, including the Town of Harpswell, the Town of Topsham, the Town of Sumner, MSAD17 Oxford Hills School District, Regional School Unit (RSU) 73 Spruce Mountain Schools (Jay-Livermore), and the County of Oxford. In addition to these newest customers, Androscoggin Bank also recently added the Town of West Bath, Town of Phippsburg and Town of Arundel to our growing customer base.

Androscoggin Bank can insure deposits with FDIC coverage up to $157 million per customer if the need is there, and our suite of municipal services products includes online banking, night deposit, lock box banking, and AndroPay, an online payment system which allows residents and taxpayers to pay fees and taxes online. Together these offerings are designed to allow municipal customers to rest easy, knowing their finances are liquid, safe and easy to access while also earning competitive rates. We won't dwell on the many reasons these towns and districts have opted to move their business to us, but we will say this: Welcome aboard!

For more information on Androscoggin Bank Municipal Services, please visit www.androgov.com or call toll-free at 1-800-966-9172.