The 100 Main St. branch of Bangor Savings Bank in downtown Damariscotta. The bank will consolidate the branch with the location at 619 Main St. in Damariscotta on March 27, 2026. (Maia Zewert photo)
Bangor Savings Bank will close its branch at 100 Main St. in downtown Damariscotta, the original location of Damariscotta Bank & Trust, by the end of March 2026.
The bank announced the decision to consolidate the branch with its location at 619 Main St. in Damariscotta in a Dec. 12 letter sent to customers. The closing date for the downtown location will be Friday, March 27, 2026, pending the completion of regulatory processes.
“While consolidating branches is not a common occurrence at Bangor Savings Bank, this decision reflects our ongoing commitment to serving you more efficiently,” Tricia Duchesneau, senior vice president and director of consumer banking, said in the letter. “These two branches are located in close proximity, and we regularly evaluate our branch network to ensure it aligns with customer needs and evolving banking trends.”
The 100 Main St. location was the first branch of Damariscotta Bank & Trust, which was founded in the early 1970s by a group of local businessmen to meet the needs of families and small businesses in the area. The first branch location opened in February 1973.
The founders included Louis Doe, Clayton N. Howard, Norman Hunt, R.H. Reny, Sam Roberts, Myron Cummings, Walter Gallant, Clayton W. Howard Sr., Lawrence MacKecknie, Anson Perley, Perley Waltz, Neal Ward, and Frederick Wormelle Jr. Howard is the only original founder still alive.
DB&T and Bangor Savings Bank announced the board of directors of both parent companies and the subsidiary banks approved an agreement to merge in December 2019. After receiving approval from the Maine Bureau of Financial Institutions in June 2020, the Federal Reserve in October 2020, and the Federal Deposit Insurance Corp. in November 2020, the merger became official on Dec. 1, 2020.
As part of the merger, Bangor Savings Bank acquired the DB&T branches in Damariscotta, New Harbor, Union, and Warren. The Belfast branch of DB&T was acquired by First National Bank as a condition of regulatory approval by the Federal Reserve.
At present, there are no final plans for the utilization of the 100 Main St. building. The employees at the 100 Main St. location will be offered comparable positions at the 619 Main St. branch or other Bangor Savings Bank locations, according to the letter. Safety deposit boxes at the downtown Damariscotta branch will be moved to the 619 Main St. branch.
The 619 Main St. branch will undergo light renovations to enhance the space, and the location will have expanded hours to provide greater convenience and flexibility, bank officials said. Customers will receive additional information in advance.
“At Bangor Savings Bank, we continuously look for ways to best serve our employees, customers, and communities. This approach enables us to strengthen our local teams, improve the customer experience, and operate more efficiently by combining resources — all while continuing to engage with the community we’ve proudly been part of for many years,” Bangor Savings Bank President and CEO Bob Montgomery-Rice said in a statement shared with The Lincoln County News. “Looking ahead, we remain deeply committed to supporting and investing in the Damariscotta community.”
