- Associated Press - Monday, March 30, 2015

PORTLAND, Maine (AP) - Camden National Bank will become Maine’s largest locally owned bank if its planned acquisition of The Bank of Maine is successful.

The Portland Press Herald (https://bit.ly/1xPhWBH ) reports the bank announced the $135 million deal on Monday. Camden National is the larger of the two banks, with 45 branches and $2.7 billion in assets as of Dec. 30, 2014. Bank of Maine had 26 branches and $805 million in assets.

The paper reports the merger would allow Camden National to surpass Bangor Savings Bank as the largest Maine-based bank. Bangor Savings Bank had $3.1 billion in assets. Parties expect the deal to close by the end of the third quarter of this year.

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