Frequently Asked Questions

We are here to answer your questions

Tell me about Bangor Savings Bank.

For more than 168 years, Bangor Savings Bank has earned the confidence of people and organizations who value the commitment of a local and independent financial institution. A lot has changed since our Bank was chartered in 1852, but Bangor Savings Bank remains true to its roots—the people and communities we serve.
 
As a mutual bank, we’re accountable to our Board, our employees, our customers, and our communities. Because of that, we’re able to operate independently and retain the personal approach and local perspective of a smaller bank—with a focus on valuing and listening to customers. At the same time, we’ve been able to drive growth and enhance our customers’ experiences by significantly investing in new, convenient branches, safe and secure technology, and new products and services
 
To learn more about us at Bangor Savings Bank, check us out at www.bangor.com.


Once the merger is complete, are both organizations changing names?

Damariscotta Bank and Trust is becoming part of Bangor Savings Bank. Once merged, you can expect the same great service from the same friendly faces. The branches will become part of the Bangor Savings Bank branch network with additional locations across Maine and New Hampshire.


How will future details about this merger be communicated to me?

We look forward to communicating important information about your accounts and the merger through a series of mailed communications. We welcome you to also check back here frequently for updates as we progress through the transition. Until our organizations are merged, please reach out to your DB&T representative. Alternatively, our Bangor Support team is also available to assist by calling 1.877.Bangor1 (1.877.226.4671).


When will the conversion to Bangor Savings Bank be complete?

Though we expect the two organizations will legally merge during the summer months, there won’t be any updates to the way you bank until the fall when the conversion, or operational merger, takes place. You will continue seeing communications about the merger toward the end of the summer and beginning of the fall with important updates on the merger and your accounts.


Will Bangor Savings Bank continue to support the local community?

Bangor Savings Bank believes in contributing to the strength and health of our communities. We serve our local communities through employee volunteerism, the Bangor Savings Bank Foundation, and Corporate giving. Just last year, together the Bank and Foundation invested more than $2.5 million in our communities at a local and state-level.  Even more impressive, our employees logged more than 15,000 volunteer hours. We love to give to the causes that mean most to our communities, whether it’s a local road race or charity event or a regional state-level organization, such as United Way. Big or small, we want to be there.
 
Caring for the communities we live in and serve is not just a priority, it’s who we are.


What should I be doing now to prepare for the conversion?

Bangor Savings Bank and DB&T are diligently working through the finer points of our merger to ensure as seamless and simple a transition for you as possible. For now, there isn’t anything you need to do to prepare. Simply be on the lookout for important communications to be mailed to you starting at the end of May.


Are my deposits still FDIC insured?

If you have deposit accounts at both DB&T and Bangor Savings Bank and the combined balance of those deposits is $250,000 or less, there will be no change to your FDIC insurance coverage and your combined deposits will continue to be fully insured.


Who should I contact if we have questions, problems, or concerns?

We welcome and encourage you to check back here frequently for updates as we progress through the transition, and please keep an eye out for important information to be delivered in the mail.  Please continue to reach out to your DB&T representative or call Bangor Support at 1.877.Bangor1 (1.877.226.4671).