Kennebec Savings Bank to Open New Electronic Banking and Loan Center in Freeport

FOR IMMEDIATE RELEASE
May 31, 2017

Contact:
Greg Glynn, Nancy Marshall Communications on behalf of
Kennebec Savings Bank
Phone: 207-620-9076
Email: gglynn@marshallpr.com

Bank prepares to open location at 181 Lower Main Street this summer

FREEPORT, Maine - Kennebec Savings Bank President and CEO Andrew Silsby announced today the bank will open a new Electronic Banking and Loan Center (EBLC) in Freeport at 181 Lower Main Street this summer. The location will feature many conveniences for customers, including the ability to electronically deposit checks, view account history, transfer funds and pay bills. It will also be a loan office for both residential and commercial real estate for properties in Freeport and the surrounding area. Kennebec Savings Bank plans to open the new Freeport location this summer.

Residential and Consumer Lender Travis Rowell (left) and Regional Vice President and Loan Officer William Hill from Kennebec Savings Bank. Photo courtesy: KSB
Residential and Consumer Lender Travis Rowell (left) and Regional Vice President and Loan Officer William Hill from Kennebec Savings Bank. Photo courtesy: KSB

"This is an exciting time for our customers and employees as we expand our footprint into the Freeport area. Our customers will now have easy access to our electronic banking services and two of our top loan officers in Bill Hill and Travis Rowell, who combined have 36 years of experience in local lending. I know they are excited to help customers in that area and provide the highest level of customer service to current and new customers alike. We have developed a lot of long-term relationships with customers in Freeport and the surrounding area over the past few years, which is why Freeport makes good sense for our first expansion outside of Kennebec County," said President and CEO Andrew Silsby of Kennebec Savings Bank.

For more than 147 years, Kennebec Savings Bank has held all of its loans locally within its portfolio, having never sold a mortgage on the secondary market. The bank prides itself on local decisions all made by Kennebec Savings employees, ultimately benefiting the local economy. Along with local decision-making, the bank is also known for extremely fast, flexible and easy loan processing for home mortgages, construction loans, investment properties, and home equity programs. Silsby said, "Maintaining such a strong loan portfolio and using local deposits to fund those loans allows the bank to continue its tradition of targeting 10 percent of our earnings to go back to the communities that we serve in the form of Community Dividends."

"We've seen steady growth in the number of our customers in Freeport and the surrounding area over the past few years and we see this new location as a perfect opportunity to provide them and new customers with easy and convenient access to our banking services and high level of customer service. We bring an extremely local approach to lending which is why we can be so flexible, make quick decisions and provide outstanding customer service," said Regional Vice President and Loan Officer William Hill of Kennebec Savings Bank.

The new EBLC office is located on Route 1 between the Pet Pantry and Gritty McDuff's Brew Pub. The building's interior will be renovated and will provide current and new customers with access to all the same services as Kennebec Savings Bank's current EBC locations, plus full lending capabilities.

In 2006, Kennebec Savings Bank opened its first EBC and became the first bank in the U.S. to put into production image-based "No Envelope" deposit technology with its automated teller machines. Advancement in this technology space has steadily increased adding more capabilities with each revision. "We are looking forward to bringing these newer advancements to the Freeport area," said Silsby.

Since 1870, the bank has had a long history of outstanding customer service with locations in Augusta, Farmingdale, Manchester, Waterville and Winthrop.

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Residential & Consumer Lender Travis Rowell (left) and Regional Vice President & Loan Officer William Hill of Kennebec Savings Bank. Photo courtesy: KSB

Kennebec Savings Bank logo

About Kennebec Savings Bank
Kennebec Savings Bank is an $888 million state-chartered community bank, part of a mutual organization with a team of 121 employees and offices in Augusta, Waterville, Winthrop and Farmingdale, as well as "KSB Anytime," 24-hour electronic banking centers in Manchester, Augusta and Farmingdale. The bank is proud that its involvement in the community as an employer, a business and a contributor has led to many other successes besides its own. That's why customers and employees alike say "We Make It Easy" at Kennebec Savings Bank. Member FDIC, Equal Housing Lender. Learn more at www.kennebecsavings.bank.