December 7, 2023

On December 7, 2023, Gorham Savings Bank, Gorham, Maine, and Maine Community Bank, Biddeford, Maine, announced their agreement to form a strategic partnership through the merger of the two banks and their parent holding companies.  The merger creates the second largest mutual savings bank in Maine with nearly $2.7 billion in assets.

Gorham Savings Bank has approximately $1.6 billion in assets.

Maine Community Bank has approximately $1.1 billion in assets.

Luse Gorman is serving as legal counsel to Gorham Savings Bank in the transaction. The Luse Gorman team consists of John Gorman, Scott Brown and Thomas Hutton.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.