Gorham Savings, Maine Community announce merger

Gorham Savings Bank in Gorham, Maine, and Maine Community Bank in Biddeford have agreed to merge. The $1.6 billion-asset Gorham Savings and the $1.1 billion-asset Maine Community said in a press release that the combined mutual will be based in Portland, Maine. It will retain the Maine Community brand. The merger is expected to close in the third quarter.

M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.