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Camden National Bank Partners with Colby College in the Revitalization of Downtown Waterville

Camden, Maine, April 10, 2018 – Camden National Bank announced it has signed a purchase and sale agreement with Elm City 9, LLC, a Colby-owned affiliate company, on the property located at 33 Main Street, Waterville. The banking center will relocate to 150 Main Street, recently named the Bill and Joan Alfond Main Street Commons, which is slated to open in August 2018, as a mixed-use building for retail space, college housing, and a public community room.

Camden National Bank is the first business to announce it will occupy space at 150 Main Street. It will be located on the ground floor on the corner of Main and Temple Streets. The new 3,500 square-foot banking center will serve as a one-stop shop for all financial needs. Current banking customers and the community will benefit from the traditional customer experience as well as a high-tech, high-touch approach, delivered by the bank’s industry-leading mobile and online applications. 

“We are very committed to the Waterville region and appreciate the opportunity to serve our customers and the community with a new, modern location.” said Greg Dufour, President and CEO of Camden National Bank. “As a fellow neighbor in downtown Waterville, we feel this is an exciting next step, for the entire community and we value the investment Colby College and the Alfonds have made in the community.”

“We’re pleased that Camden National Bank will continue to be a vital presence in downtown Waterville,” said Colby’s Vice President of Planning Brian Clark. “And, importantly, a hotel was identified early on as a key project to bring visitors and new activity to Main Street, and this agreement allows Colby to resume plans for the hotel on a new site that offers the best opportunity for success.”

The property sale transaction is expected to close in June 2018. The current banking center will remain open at 33 Main Street until it relocates to 150 Main Street in early fall. Camden National Bank has planned for a seamless transition to their new location. Customers will not experience any interruption in service when the move occurs. 

About Camden National Corporation 

Camden National Corporation (NASDAQ:CAC), headquartered in Camden, Maine, is the largest bank holding company in Northern New England with $4.1 billion in assets and nearly 650 employees. Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 that offers an array of consumer and business financial products and services, accompanied by the latest in digital banking technology to empower customers to bank the way they want. The Bank provides personalized service through a network of 60 banking centers, 76 ATMs, and lending offices in New Hampshire and Massachusetts, all complemented by 24/7 live phone support. This year marks the 8th time Camden National Bank has received the “Lender at Work for Maine” Award from the Finance Authority of Maine. Comprehensive wealth management, investment and financial planning services are delivered by Camden National Wealth Management. To learn more, visit Member FDIC.