A Letter from the President & CEO and Chair of the Board

Dear Friends, Employees, Customers, and Corporators,

For 174 years, Bangor Savings Bank has grown alongside the people and communities we serve, built on a foundation of trust that continues to guide who we are today. While much has changed since our founding as a mutual bank, our purpose remains the same: to be a trusted financial partner grounded in local decision making, strong relationships, and a deep commitment to the communities of Northern New England.

Over the past year, we delivered steady performance while navigating a complex economic environment. Through responsible growth, we produced over $1.6 billion in loans, bringing total loan production over the past five years to just under $8 billion. We also expanded our customer base, welcoming over 18,000 new customers, opening more than 29,000 customer deposit accounts, including 6,000 business accounts. Throughout the year, disciplined balance sheet management remained a priority, ensuring we are well positioned to continue supporting our customers over the long term.

Our ability to serve our customers and communities starts with investments in our people and our technology. We demonstrate that commitment through continued training and development for our employees. This year we achieved a two-year effort to upskill employees across the Bank in data fluency and the responsible use of Artificial Intelligence (AI) tools. In conjunction with training, we developed a framework to assess and govern the use of AI tools ensuring the safety and protection of our customers and their data. Also, teams across the organization are preparing to deliver more modernized digital banking experiences through the rollout of new digital banking platforms for both business and consumer customers throughout 2026. 

Equally important is our commitment beyond the walls of the Bank. Through Corporate Giving, The Bangor Savings Bank Foundation, and over 6,700 volunteer hours, we strive to make a meaningful difference in the communities we serve. Especially during times of uncertainty, we believe showing up consistently and compassionately matters.

To our employees, customers, advocates, community partners, and neighbors—thank you. Our success reflects the relationships we’ve built together and the trust you place in us.

Sincerely,

Gena R. Canning, Chair of the Board & Robert S. Montgomery-Rice, President and Chief Executive Officer