Bangor Savings Bank Mortgage Rates, Fees & Info

Bangor, ME

LEI: 549300JEBULFT3BSU682

Tax ID: 01-0024610

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Bangor Savings Bank is a small bank specializing in Refi and Home Purchase loans. Bangor Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Portland, Boston, Bangor, Augusta, and Lewiston among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bangor Savings Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bangor Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/21/24
    30 Year Conventional Purchase 6.19% 4/21/24
    30 Year Conventional Refi 6.31% 4/21/24
    30 Year Cash-out Refi 6.51% 4/21/24
    30 Year FHA Purchase 6.80% 4/21/24
    30 Year VA Purchase 5.86% 4/21/24
    30 Year VA Refi 6.36% 4/21/24
    30 Year USDA Purchase 5.99% 4/21/24
    15 Year Conventional Purchase 5.89% 4/21/24
    15 Year Conventional Refi 5.84% 4/21/24
    15 Year Cash-out Refi 5.84% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Bangor Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bangor Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    7,835

    Origination Dollar Volume (All Markets)

    $1,844,655,000

    Employee count

    1,027 Show all (12) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2,471 $639,385,000 $258,756 $3,384 3.08%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1,222 $484,520,000 $396,498 $2,994 2.95%
    Outside of Metro Areas 1,882 $302,530,000 $160,749 $3,252 3.22%
    BANGOR, ME (FHA|USDA|VA) 1,313 $209,315,000 $159,417 $3,238 3.16%
    Augusta-Waterville, ME (FHA|USDA|VA) 303 $48,355,000 $159,587 $3,277 3.16%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 201 $34,995,000 $174,104 $3,344 3.28%
    WORCESTER, MA-CT (FHA|USDA|VA) 97 $34,795,000 $358,711 $3,292 2.96%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 106 $30,850,000 $291,038 $2,853 3.15%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 34 $14,910,000 $438,529 $3,449 2.83%
    Concord, NH (FHA|USDA|VA) 47 $10,685,000 $227,340 $3,445 3.02%
    Berlin, NH (FHA|USDA|VA) 50 $7,370,000 $147,400 $2,803 3.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 17 $5,035,000 $296,176 $2,667 2.96%
    Lebanon, NH-VT (FHA|USDA|VA) 15 $2,775,000 $185,000 $2,783 3.04%
    Laconia, NH (FHA|USDA|VA) 13 $2,705,000 $208,077 $2,708 3.03%
    Vineyard Haven, MA (FHA|USDA|VA) 3 $2,045,000 $681,667 $3,345 2.29%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $1,265,000 $253,000 $3,142 3.18%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,215,000 $243,000 $3,777 3.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $1,160,000 $580,000 $3,840 2.69%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,040,000 $173,333 $3,139 3.13%
    PITTSFIELD, MA (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,526 3.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,005,000 $201,000 $3,319 3.32%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $985,000 $197,000 $3,365 3.38%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $870,000 $217,500 $3,504 2.75%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $745,000 $248,333 $2,403 3.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $700,000 $350,000 $4,739 2.81%
    PUNTA GORDA, FL (FHA|USDA|VA) 3 $695,000 $231,667 $3,099 2.71%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $545,000 $181,667 $3,060 3.38%
    THE VILLAGES, FL (FHA|USDA|VA) 3 $505,000 $168,333 $2,896 3.13%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $485,000 $485,000 $4,477 3.50%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $460,000 $230,000 $3,266 2.75%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 2 $450,000 $225,000 $8,261 3.13%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $395,000 $395,000 $2,753 3.13%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,151 2.88%
    Bennington, VT (FHA|USDA|VA) 1 $265,000 $265,000 $5,185 2.88%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,344 2.88%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,298 3.50%
    OCALA, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.13%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $15,000 $15,000 $0 5.13%
    Bangor Savings Bank's top markets include Portland, Boston, Bangor, Augusta, and Lewiston among others.

    Their top states include:
  • Maine (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bangor Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MAINE FAMILY
    Similarity Rank: 60
    Union Bank
    Similarity Rank: 99
    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 148
    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    CASCO
    Similarity Rank: 324
    Piscataqua Savings Bank
    Similarity Rank: 446
    FIVE COUNTY
    Similarity Rank: 484

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 5,498 $1,557,250,000 $283,239 $3,086 3.02%
    HELOC 2,024 $227,090,000 $112,199 n/a 3.37%
    USDA 138 $20,660,000 $149,710 $4,786 3.16%
    VA 90 $21,960,000 $244,000 $6,065 3.04%
    FHA 85 $17,695,000 $208,176 $7,106 3.22%

    For 2020, Bangor Savings Bank's most frequently originated type of loan was Conventional, with 5,498 originations. Their 2nd most popular type was HELOC, with 2,024 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 3,369 $831,265,000 $246,739 $2,717 3.03%
    Home Purchase 2,354 $627,970,000 $266,767 $3,852 3.13%
    Cash Out Refi 1,067 $285,105,000 $267,202 $3,286 3.05%
    Home Improvement 798 $73,690,000 $92,343 $3,672 3.41%
    Other 247 $26,625,000 $107,794 $3,248 3.41%

    For 2020, Bangor Savings Bank's most frequently cited loan purpose was Refi, with 3,369 originations. The 2nd most popular reason was Home Purchase, with 2,354 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,524 $1,048,820,000 $297,622 $3,394 3.13%
    Other 2,103 $255,435,000 $121,462 $3,786 3.36%
    15 Year 1,440 $312,120,000 $216,750 $2,708 2.64%
    20 Year 389 $95,635,000 $245,848 $2,876 3.35%
    10 Year 244 $85,740,000 $351,393 $2,544 2.90%
    30+ year 128 $44,240,000 $345,625 $6,389 3.44%
    5 Year 5 $1,535,000 $307,000 $0 3.85%
    3 Year 1 $965,000 $965,000 $0 4.10%
    1 Year 1 $165,000 $165,000 $0 3.25%

    For 2020, Bangor Savings Bank's most frequently cited loan duration was 30 Year, with 3,524 originations. The 2nd most popular length was Other, with 2,103 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3,732 $1,109,200,000 $297,213
    $1k-2k 1,283 $259,025,000 $201,890
    $2k-3k 276 $72,700,000 $263,406
    $3k-4k 101 $28,415,000 $281,337
    $4k-5k 61 $19,175,000 $314,344
    $5k+ 61 $22,795,000 $373,689

    Bangor Savings Bank's average total fees were $3,394, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,732 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,947 $732,805,000 $248,661
    2.5-3% 2,405 $680,205,000 $282,830
    <2.5% 1,847 $358,525,000 $194,112
    4-5% 549 $65,255,000 $118,862
    5-6% 76 $7,010,000 $92,237
    6-7% 11 $855,000 $77,727

    During 2020, Bangor Savings Bank's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 2,947 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,717 $752,865,000 $277,094 $3,321 3.00%
    $100k-200k 2,472 $362,970,000 $146,833 $2,945 3.07%
    $100,000 or less 1,612 $94,940,000 $58,896 $2,696 3.44%
    $400k-600k 701 $333,375,000 $475,571 $3,631 2.99%
    $600k-1MM 273 $201,775,000 $739,103 $4,060 3.04%
    $1MM+ 60 $98,730,000 $1,645,500 $5,607 3.02%

    2020 saw Bangor Savings Bank place emphasis on $200k-400k loans with 2,717 originations, totaling $752,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,846 $435,610,000 $235,975 $3,155 3.07%
    $50k-75k 1,421 $233,755,000 $164,500 $3,252 3.13%
    $150k-250k 1,328 $413,730,000 $311,544 $3,254 3.05%
    $75k-100k 1,300 $252,980,000 $194,600 $3,175 3.10%
    $50k or less 876 $95,160,000 $108,630 $3,223 3.26%
    $250k+ 692 $294,270,000 $425,246 $3,666 2.97%

    Bangor Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 1,846 originations. The second most popular income band? $50k-75k, with 1,421 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2,058 $463,970,000 $225,447 $3,068 3.08%
    30-36% 1,579 $383,605,000 $242,942 $3,279 3.08%
    <20% 1,067 $186,355,000 $174,653 $2,879 3.10%
    42% 345 $74,235,000 $215,174 $3,548 3.14%
    41% 291 $73,705,000 $253,282 $3,274 3.16%
    37% 282 $69,120,000 $245,106 $3,167 3.07%
    39% 280 $70,840,000 $253,000 $3,287 3.12%
    38% 262 $71,040,000 $271,145 $3,433 3.07%
    40% 261 $61,925,000 $237,261 $3,330 3.13%
    36% 259 $63,925,000 $246,815 $3,430 3.22%
    43% 248 $55,020,000 $221,855 $3,489 3.08%
    44% 179 $46,465,000 $259,581 $3,445 3.13%
    45% 140 $36,950,000 $263,929 $3,216 2.99%
    46% 110 $26,310,000 $239,182 $3,456 3.03%
    47% 101 $24,695,000 $244,505 $3,494 2.93%
    48% 84 $22,190,000 $264,167 $3,568 2.99%
    49% 79 $21,745,000 $275,253 $3,574 3.07%
    50-60% 35 $7,945,000 $227,000 $3,956 3.14%
    >60% 6 $1,540,000 $256,667 $0 3.16%

    Bangor Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 2,058 originations. The next most common DTI ratio? 30-36%, with 1,579 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6,659 $1,497,185,000 $224,836 $3,226 3.10%
    Not provided 756 $181,990,000 $240,728 $3,336 3.03%
    Not applicable 163 $81,915,000 $502,546 $0 4.06%
    Asian 175 $67,785,000 $387,343 $3,249 2.88%
    Black 40 $8,080,000 $202,000 $3,536 3.23%
    American Indian 33 $5,625,000 $170,455 $3,229 2.92%
    Native Hawaiian or Islander 4 $1,050,000 $262,500 $3,432 2.88%
    Asian Indian 3 $805,000 $268,333 $2,759 2.46%
    Other Asian 2 $220,000 $110,000 $0 2.88%

    Approval Rates

    Total approvals of all applications
    87.16%

    Bangor Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.34%

    Bangor Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 7,835 $1,844,655,000 $235,438

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $65,000 $65,000
    Multifamily:Site-Built 72 $46,830,000 $650,417
    Single Family (1-4 Units):Manufactured 46 $4,520,000 $98,261
    Single Family (1-4 Units):Site-Built 7,716 $1,793,240,000 $232,405

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 976 $129,160,000 $132,336 $2,613 3.20%
    40-60% 1,484 $349,570,000 $235,559 $2,793 2.96%
    60-80% 2,856 $820,860,000 $287,416 $3,125 3.10%
    80-100% 1,871 $501,705,000 $268,148 $3,794 3.12%
    Over 100% 21 $5,145,000 $245,000 $9,688 3.08%
    Under 20% 625 $38,175,000 $61,080 $1,798 3.35%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANCORPSOUTH BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 33.3%
    BANCORPSOUTH BANK Conventional home mortgage Trouble during payment process 2 33.3%
    BANCORPSOUTH BANK FHA mortgage Closing on a mortgage 1 16.7%
    BANCORPSOUTH BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 16.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bangor Savings Bank 5 Commercial Street Rockport, ME 4856 Full Service B&M $48,541
    Bangor Savings Bank 54 Washington Street Eastport, ME 4631 Full Service B&M $18,347
    Bangor Savings Bank 56 Main Street Madison, ME 4950 Full Service B&M $37,010
    Bangor Savings Bank 564 Stillwater Avenue Old Town, ME 4468 Full Service B&M $70,244
    Bangor Savings Bank 59 Foster Street Ellsworth, ME 4605 Full Service B&M $90,416
    Bangor Savings Bank 6 China Road Winslow, ME 4901 Full Service B&M $41,246
    Bangor Savings Bank 652 Broadway Bangor, ME 4401 Full Service B&M $88,711
    Bangor Savings Bank 687 Hogan Road Bangor, ME 4401 Full Service B&M $72,374
    Bangor Savings Bank 232 North Street Calais, ME 4619 Full Service B&M $22,601
    Bangor Savings Bank 17 Main Street Searsport, ME 4974 Full Service B&M $48,624
    Bangor Savings Bank 22 Main Street Dexter, ME 4930 Full Service B&M $31,637
    Bangor Savings Bank 1 Center Street Machias, ME 4654 Full Service B&M $13,972
    Bangor Savings Bank 100 Loudon Road Concord, NH 3301 Full Service B&M $52,751
    Bangor Savings Bank 1048 Brighton Avenue, Pine Tree Shopping Center Portland, ME 4102 Full Service B&M $221,280
    Bangor Savings Bank 106 Main Street Belfast, ME 4915 Full Service B&M $15,195
    Bangor Savings Bank 110 Park Street Orono, ME 4473 Full Service B&M $46,985
    Bangor Savings Bank 113 Madison Avenue Skowhegan, ME 4976 Full Service B&M $72,014
    Bangor Savings Bank 118 Congress Street Rumford, ME 4276 Full Service B&M $43,231
    Bangor Savings Bank 127 Community Drive Augusta, ME 4330 Full Service B&M $111,345
    Bangor Savings Bank 132 Main Street Colebrook, NH 3576 Full Service B&M $99,753
    Bangor Savings Bank 138 Main Street Pittsfield, ME 4967 Full Service B&M $32,658
    Bangor Savings Bank 160 East Main Street Dover-Foxcroft, ME 4426 Full Service B&M $69,348
    Bangor Savings Bank 170 Turner Street Auburn, ME 4210 Full Service B&M $49,641
    Bangor Savings Bank 175 Main Street Jonesport, ME 4649 Full Service B&M $11,188
    Bangor Savings Bank 177 Main Street Farmington, ME 4938 Full Service B&M $63,278
    Bangor Savings Bank 180 Maple Street Cornish, ME 4020 Full Service B&M $64,351
    Bangor Savings Bank 180 Middle Street Portland, ME 4101 Full Service B&M $100,889
    Bangor Savings Bank 180 Waterman Drive, Mill Creek South Portland, ME 4106 Full Service B&M $108,694
    Bangor Savings Bank 19 Main Road North Hampden, ME 4444 Full Service B&M $79,069
    Bangor Savings Bank 196 Main Street Ogunquit, ME 3907 Full Service B&M $12,687
    Bangor Savings Bank 20 Marginal Way Portland, ME 4101 Full Service B&M $56,720
    Bangor Savings Bank 208 Main Street Biddeford, ME 4005 Limited, Drive-thru $0
    Bangor Savings Bank 208 Main Street Biddeford, ME 4005 Full Service B&M $42,369
    Bangor Savings Bank 213 Battle Avenue Castine, ME 4421 Full Service B&M $17,779
    Bangor Savings Bank 215 U.S. Route 1 Falmouth, ME 4105 Full Service B&M $104,540
    Bangor Savings Bank 24 Hamlin Way Bangor, ME 4401 Full Service B&M $843,487
    Bangor Savings Bank 2400 Lafayette Road Portsmouth, NH 3802 Full Service B&M $39,665
    Bangor Savings Bank 241 Us Route 1 Scarborough, ME 4074 Full Service B&M $69,650
    Bangor Savings Bank 270 Main Street Saco, ME 4072 Full Service B&M $44,504
    Bangor Savings Bank 274 Western Avenue Augusta, ME 4330 Full Service B&M $134,136
    Bangor Savings Bank 3 State St Bangor, ME 4401 Full Service B&M $0
    Bangor Savings Bank 31 Lily Bay Road Greenville, ME 4441 Full Service B&M $24,627
    Bangor Savings Bank 320 Allen Avenue Portland, ME 4103 Full Service B&M $69,503
    Bangor Savings Bank 366 Main Street Waterville, ME 4901 Full Service B&M $40,043
    Bangor Savings Bank 38 Court Street Houlton, ME 4730 Full Service B&M $41,482
    Bangor Savings Bank 4 Prospect Avenue Lincoln, ME 4457 Full Service B&M $58,861
    Bangor Savings Bank 425 Wilson Street Brewer, ME 4412 Full Service B&M $118,667
    Bangor Savings Bank 45 Maine Street Brunswick, ME 4011 Full Service B&M $55,399
    Bangor Savings Bank 460 U.S. Route 1 York, ME 3909 Full Service B&M $27,471
    Bangor Savings Bank 69 Route 101a Amherst, NH 3031 Full Service B&M $57,499
    Bangor Savings Bank 7 Belmont Ave Belfast, ME 4915 Full Service B&M $91,723
    Bangor Savings Bank 73 Camden Street Rockland, ME 4841 Full Service B&M $36,068
    Bangor Savings Bank 77 Middle Street Portland, ME 4101 Full Service B&M $103,089
    Bangor Savings Bank 79 Central Street Millinocket, ME 4462 Full Service B&M $47,876
    Bangor Savings Bank 8 Bow Street Portsmouth, NH 3801 Full Service B&M $10,626
    Bangor Savings Bank 871 Hammond Street Bangor, ME 4402 Full Service B&M $103,946
    Bangor Savings Bank 882 Lisbon Street Lewiston, ME 4240 Full Service B&M $42,382
    Bangor Savings Bank 89 Main Street Bucksport, ME 4416 Full Service B&M $37,046
    Bangor Savings Bank Bangor Road Unity, ME 4988 Full Service B&M $54,420

    For 2020, Bangor Savings Bank had 59 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $169,445
    Net interest income $151,363
    Total noninterest income $89,237
    Gross Fiduciary activities income $6,728
    Service charges on deposit accounts $7,468
    Trading account gains and fees $670
    Additional Noninterest Income $74,371
    Pre-tax net operating income $51,402
    Securities gains (or losses, -) $100
    Income before extraordinary items $41,557
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $41,557
    Minority interest net income $0
    Net income $41,557
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $41,476

    Bangor Savings Bank's gross interest income from loans was $169,445,000.
    Bangor Savings Bank's net interest income from loans was $151,363,000.
    Bangor Savings Bank's fee based income from loans was $7,468,000.
    Bangor Savings Bank's net income from loans was $41,557,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $18,082
    Provision for credit losses $15,950
    Total noninterest expense $173,248
    Salaries and employee benefits $112,971
    Premises and equipment expense $18,682
    Additional noninterest expense $41,595
    Applicable income taxes $9,945
    Net charge-offs $4,352
    Cash dividends $36,000

    Bangor Savings Bank's interest expense for loans was $18,082,000.
    Bangor Savings Bank's payroll and benefits expense were $112,971,000.
    Bangor Savings Bank's property, plant and equipment expenses $18,682,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 44.0%

    Deposits

    Type Value (in 000's)
    Total deposits $4,776,212
    Deposits held in domestic offices $4,776,212
    Deposits by Individuals, partnerships, and corporations $4,396,373
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $379,342
    Deposits by Commercial banks and other depository institutions in U.S. $497
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $733,337
    Demand deposits $634,996
    Nontransaction accounts $4,042,875
    Money market deposit accounts (MMDAs) $1,031,649
    Other savings deposits (excluding MMDAs) $2,471,019
    Total time deposits $540,206
    Total time and savings deposits $4,141,216
    Noninterest-bearing deposits $1,386,479
    Interest-bearing deposits $3,389,733
    Retail deposits $4,575,879
    IRAs and Keogh plan accounts $116,635
    Brokered deposits $140,030
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,063,393
    Cash & Balances due from depository institutions $172,769
    Interest-bearing balances $111,105
    Total securities $1,621,136
    Federal funds sold & reverse repurchase $0
    Net loans and leases $3,797,081
    Loan and leases loss allowance $44,884
    Trading account assets $12,069
    Bank premises and fixed assets $185,015
    Other real estate owned $122
    Goodwill and other intangibles $78,106
    All other assets $197,095

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,063,392
    Total Liabilities $5,521,510
    Total deposits $4,776,212
    Interest-bearing deposits $3,389,733
    Deposits held in domestic offices $4,776,212
    % insured (estimated) $54
    Federal funds purchased and repurchase agreements $590,104
    Trading liabilities $12,069
    Other borrowed funds $60,731
    Subordinated debt $0
    All other liabilities $82,394

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,797,081
    Loan and leases loss allowance $44,884
    Total loans and leases (domestic) $3,841,965
    All real estate loans $3,289,278
    Real estate loans in domestic offices $3,289,278
    Construction and development loans $140,019
    Residential 1-4 family construction $31,363
    Other construction, all land development and other land $108,656
    Loans secured by nonfarm nonresidential properties $1,097,191
    Nonfarm nonresidential secured by owner-occupied properties $384,530
    Commercial real estate & other non-farm, non-residential $712,661
    Multifamily residential real estate $174,119
    1-4 family residential loans $1,877,314
    Farmland loans $635
    Loans held in foreign offices $0
    Farm loans $18,044
    Commercial and industrial loans $459,398
    To non-U.S. addressees $0
    Loans to individuals $26,373
    Credit card loans $0
    Related Plans $2,967
    Consumer Auto Loans $6,251
    Other loans to individuals $17,155
    All other loans & leases $48,872
    Loans to foreign governments and official institutions $0
    Other loans $31,131
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $6,009
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,939
    Non 1-4 family restructured loans & leases $578
    Total loans and leases (foreign) $0

    Bangor Savings Bank had $3,797,081,000 of loans outstanding in 2020. $3,289,278,000 of loans were in real estate loans. $140,019,000 of loans were in development loans. $174,119,000 of loans were in multifamily mortgage loans. $1,877,314,000 of loans were in 1-4 family mortgage loans. $18,044,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,251,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 1,125 $281,091 $249,859
    Nonfarm, nonresidential loans - <$100k 194 $8,467 $43,644
    Nonfarm, nonresidential loans - $100-250k 446 $58,769 $131,769
    Nonfarm, nonresidential loans - $250k-1MM 485 $213,855 $440,938
    Commercial & Industrial, US addressed loans - <$1MM 5,315 $263,053 $49,493
    Commercial & Industrial, US addressed loans - <$100k 4,482 $93,719 $20,910
    Commercial & Industrial, US addressed loans - $100-250k 540 $65,043 $120,450
    Commercial & Industrial, US addressed loans - $250k-1MM 293 $104,291 $355,942
    Farmland loans - <$1MM 8 $628 $78,500
    Farmland loans - <$100k 5 $118 $23,600
    Farmland loans - $100-250k 2 $243 $121,500
    Farmland loans - $250k-1MM 1 $267 $267,000
    Agriculture operations loans - <$1MM 389 $12,779 $32,851
    Agriculture operations loans - <$100k 332 $5,432 $16,361
    Agriculture operations loans - $100-250k 49 $4,987 $101,776
    Agriculture operations loans - $250k-1MM 8 $2,360 $295,000