BANGOR, Maine — A New Hampshire bank is merging with one in Maine.

Colebrook-based Granite Bank is merging into Bangor Savings Bank in Maine. Their parent companies announced approval of the agreement Monday.

Earlier this year, Bangor Savings Bank opened a limited service branch in Portsmouth, offering mortgage and business/commercial lending, along with payroll and merchant services. Granite Bank operates offices in Portsmouth, Concord, and Amherst, in addition to Colebrook.

Bangor company officials say the merger complements the bank’s long-term vision to provide accessible and trusted local financial services to more northern New England customers.

The transaction is expected to be completed in 2018. The combined entity will have over $4 billion in assets and 59 branch offices throughout Maine and New Hampshire.

Author photo
The AP is one of the largest and most trusted sources of independent newsgathering. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.