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Overview / Commentary
888-424-4184
2 Canal Plaza
Portland, ME 04101

The Bank of Maine is headquartered in Portland and is the 13st largest bank in the state of Maine. It is also the 887th largest bank in the nation. It was established in 1834 and as of March of 2014, it had grown to 269 employees at 26 locations. The Bank of Maine's money market rates are 14% higher than the national average, and it has a B+ health rating.

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 The Bank of Maine had $11.4 million in non-current loans and owned real-estate with $105.52 million in equity and loan loss allowances on hand to cover it. This gives The Bank of Maine a Texas Ratio of 10.80% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for The Bank of Maine decreased dramatically from 26.72% as of March 31, 2013 to 10.80% as of March 31, 2014, resulting in a positive change of 59.57%.This indicates that the balance sheet and financial strength for The Bank of Maine has improved dramatically in recent periods.

Deposit Growth

GRADE:
D

In the past year, The Bank of Maine has decreased its total deposits by -$33.98 million, resulting in -5.11% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth The Bank of Maine has shown is below average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. The Bank of Maine has $768.82 million in assets with $105.52 million in equity, resulting in a capitalization level of 13.72%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #19686
Year Established1834
Employees269
Primary RegulatorOCC
Assets and Liabilities
Assets$768.82 million
Loans$580.05 million
Deposits$630.41 million
Equity Capital$96.80 million
Loan Loss Allowance$8.72 million
Unbacked Noncurrent Loans$9.78 million
Real Estate Owned$1.62 million
Historic Data - March 2013
Assets$784.97 million
Equity Capital$95.89 million
Loan Loss Allowance$8.32 million
Unbacked Noncurrent Loans$9.78 million
Real Estate Owned$6.35 million
Profit Margin - Quarterly
Net Interest Margin3.74%
Return on Assets0.12%
Return on Equity0.91%
Interest Income$7.07 million
Rates
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The Bank of Maine Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Regular Statement Savings

The Bank of Maine Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRAutomatic Money Market
0.30%$250k-Money Market Account

The Bank of Maine CD Rates

DetailsAPYMINMAXPRODUCT
1.56%$500-5 Year CD - w/ Promise Rewards Checking
1.51%$500-5 Year CD
1.36%$20k-4 Year CD - w/ Promise Rewards Checking
1.31%$20k-4 Year CD
1.06%$20k-3 Year CD - w/ Promise Rewards Checking
1.05%$500-24 Month Promise CD Special
1.00%$20k-3 Year CD
0.90%$20k-2 Year CD - w/ Promise Rewards Checking
0.85%$20k-2 Year CD
0.50%$500-18 Month CD Special
0.50%$20k-1 Year CD - w/ Promise Rewards Checking
0.45%$20k-1 Year CD
0.35%$20k-6 Month CD - w/ Promise Rewards Checking
0.30%$20k-6 Month CD
0.15%$5k-3 Month CD - w/ Promise Rewards Checking
0.10%$5k-3 Month CD

The Bank of Maine IRA Rates

DetailsAPYMINMAXPRODUCT
1.56%$500-5 Year IRA - w/ Promise Rewards Checking
1.51%$500-5 Year IRA
1.36%$20k-4 Year IRA - w/ Promise Rewards Checking
1.31%$20k-4 Year IRA
1.06%$20k-3 Year IRA - w/ Promise Rewards Checking
1.05%$500-24 Month Promise IRA Special
1.00%$20k-3 Year IRA
0.90%$20k-2 Year IRA - w/ Promise Rewards Checking
0.85%$20k-2 Year IRA
0.50%$20k-1 Year IRA - w/ Promise Rewards Checking
0.50%$500-18 Month IRA Special
0.45%$20k-1 Year IRA
0.35%$20k-6 Month IRA - w/ Promise Rewards Checking
0.30%$20k-6 Month IRA
Locations

The Bank of Maine has 35 locations. Click to view all The Bank of Maine locations.