PRESS RELEASE: Maine Banks Give!

DATE: April 26, 2024

Contact: Jim Roche
(207) 791-8401

 Maine Banks Give!

Recent survey shows Maine banks’ impact on their communities

 A recent survey by the Maine Bankers Association reveals the significant impact banks have on their communities in the Pine Tree State. From over 145,000 volunteer hours logged by bank employees, to $17.7 million in charitable donations, from $3.2 billion in loans to businesses, to $2.5 billion in residential and commercial real estate loans, banks provide the support and economic fuel that keeps Maine’s economy prosperous.

“The banking industry in Maine has a long tradition of community engagement,” said Steve deCastro, president & CEO of Gorham Savings Bank and chair of the board of the Maine Bankers Association. “As bankers, we’re instilled with the value and importance of giving back to our communities.  I’m not surprised but always impressed with the contributions our industry provides to worthy Maine causes. Our efforts in the community give me great pride to represent Gorham Savings and our industry,” he concluded.

Maine’s banking industry employs 9000 working men and women across the state. Twenty-nine (29) retail banks operate 442 offices in nearly every community, assisting Maine citizens and businesses with financial decisions that improve the quality of life for everyone. With assets exceeding $42 billion, the Maine banking industry provides the financial fuel that powers the state’s economy.

Highlights from Maine banks community involvement:

Volunteers from Gorham Savings Bank working for two worthwhile causes – Habitat for Humanity and Good Shepard Food Bank.
Employees of all Maine banks donated over 145,000 hours of their time for similar causes over the past year.