Maine Community Bank, a Maine chartered savings bank headquartered in Biddeford, Maine, has applied to the Maine Bureau of Financial Institutions’ Superintendent pursuant to Title 9-B M.R.S. Chapters 35 and 101 to merge with Gorham Savings Bank, a Maine chartered savings bank headquartered in Gorham, Maine, with Maine Community Bank as the surviving bank. As part of the bank merger, the application also seeks approval of the acquisition by merger of Gorham Bancorp, MHC, a Maine mutual holding company, with and into Maine Community Bancorp, MHC, a Maine mutual holding company, with Maine Community Bancorp, MHC as the surviving institution; and of the acquisition by merger of Gorham Bancorp, Inc., a Delaware corporation that is the direct parent of Gorham Savings Bank and is the wholly-owned subsidiary of Gorham Bancorp, MHC, with and into Maine Community Bancorp, Inc., a Maryland corporation that is the direct parent of Maine Community Bank and is the wholly-owned subsidiary of Maine Community Bancorp, MHC.
The mergers are also subject to approval by federal banking regulators. Upon completion of the mergers, Maine Community Bank would operate 24 branches in southern Maine.
The public is invited to submit written comments on this application to the Maine Bureau of Financial Institutions, 36 State House Station, Augusta, Maine 04333-0036 or by electronic mail at bfi.info@maine.gov. A hearing on this application will be held by the Superintendent of Financial Institutions, as provided in Title 9-B M.R.S. Section 252, upon receipt of a bona fide and reasonable request. The Bureau will accept written comments and requests for a hearing through Saturday, March 30, 2024. The Superintendent's decision on this application will be based on the decision-making criteria set forth in Title 9-B M.R.S. Section 253.
/s/ Lloyd P. LaFountain, III
Superintendent
Gardiner, Maine
February 29, 2024