Katahdin Trust Company History
Community Banking At Its Best. It's not a slogan; it's a way of doing business...our mindset...and our promise to each person who graces our doorway.
Serving the financial needs of our communities since 1918.
As the 19th century rolled into the 20th, business leaders across the nation began opening independent, community banks to meet the financial needs of families and business owners largely ignored by big-city banks. In northern Maine, Katahdin Trust Company was such a bank; opening its doors in Patten on March 7, 1918.
Three years after opening its first office in Patten in 1918, the Bank opened a branch in Island Falls. These remained the only two locations for the next fifty-five years. In 1976 the Bank opened its third office in Oakfield. Eleven years later, the Bank expanded to Houlton and in 1991 opened its fifth office in Presque Isle.
During the mid 1990's, as population continued to decline and larger banks continued to reduce their presence in northern Maine, Katahdin Trust Company remained loyal to the area and continued expanding with two new offices in Mars Hill and Caribou and a new Operations Center in Houlton.
In November of 2000 the Bank doubled its locations and increased its assets by 62% with the acquisition of eight Aroostook County branches of Peoples Heritage Bank (now TD Bank), located in Mars Hill, Easton, Eagle Lake, Fort Fairfield, Limestone, Van Buren, Ashland, and Washburn.
In 2007 Katahdin Trust acquired Maine Financial Group, located in the southern Maine community of Scarborough, and continues to operate it as a commercial loan office. Later that year, the Bank expanded its Scarborough location with the addition of a commercial services officer. In March 2008 a second commercial loan office was opened in the central Maine community of Bangor.
The Bank began to expand its presence in the greater Bangor market with full-service branch locations in 2010; opening in Bangor’s Broadway Shopping Center in August and nearly a year later a second branch was opened in Hampden. In May of 2012 the Bank opened its third branch in this market on Springer Drive in Bangor’s Christmas Tree Shops Plaza. Concurrent with the opening of this branch the Bangor commercial loan office moved to this facility.
In November of 2013, the Bank expanded services at its Scarborough commercial loan office located in southern Maine to include a full array of deposit accounts and teller amenities.
Today, we celebrate over 95 years of service to generations of customers with 18 branch locations throughout the state of Maine. And while our founders wouldn't recognize the modern technologies and methods of banking today, it's a certainty that they would appreciate the continued commitment to personal service afforded by Katahdin Trust Company employees. We've never lost sight of our original vision of our founders, which was to be responsive to the needs of our communities while providing comprehensive solutions and impeccable service.