Bangor Savings Bank customers with an existing residential Adjustable Rate Mortgage (ARM), that has a term extending beyond 2023, may be impacted by the LIBOR transition. As previously communicated, Bangor Savings Bank has chosen 30-day SOFR as the replacement index for USD LIBOR and will begin converting existing contracts on January 1, 2022. For more information on the Bank’s transition plan and the impact to your LIBOR based loan, please refer to the letters provided on this page.

Residential Mortgage ARM - Not Repricing
Residential Mortgage ARM - Repricing

Bangor Savings Bank customers with a fixed rate mortgage are not impacted.​

 

Additional Material:

30-Day SOFR Index Data