Skowhegan Savings to Acquire Border Trust's Jackman Branch Office — FAQ
Overview: On April 7, 2010, Skowhegan Savings announced they had entered into an agreement to purchase the Jackman branch of Border Trust.
Q: Is this final?
A: The sale is subject to regulatory approval, but is expected to be finalized by September, 2010.
Q: What will happen to Border Trust Customers/Accounts?
A: Border Trust customers need not take any action at this time. Upon the projected closing date, they will automatically become Skowhegan Savings customers. Account funds, checks and cards will continue to work until further notification. Both institutions are dedicated to a smooth transition and will be in touch with all customers in regards to any changes to specific accounts, cards, electronic services and other bank-related services.
Q: Why is Border Trust Leaving Jackman?
A: Jackman has been home to Border Trust for 41 years and they have enjoyed being a part of the community. However, the business has grown in the central and mid-coast areas of the state and it made sense to focus on this geographic area as they look to the future. This sale will allow Border Trust to focus their energies and resources where their business geographically is strongest and enable the Jackman customers to receive a high level of service from a bank that is based closer to the community. This transaction will have a very positive impact on Border Trust and put the bank in a better position to serve their customers well into the future.
Q: Why Skowhegan Savings?
A: Skowhegan Savings has been serving customers in the region since 1869. They have a commitment to customer service and community, along with a strong financial position that made them an ideal fit for the Jackman community.
Q: Who is Skowhegan Savings?
A: Skowhegan Savings is a $430 million mutual savings bank headquartered in Skowhegan, ME. The Bank celebrated its 140th anniversary this year and is well respected for its financial strength and commitment to the communities it serves. The Bank offers a full spectrum of consumer and business banking and financial services.
Q: When will the branch “become” Skowhegan Savings?
A: Officially, once the sale is complete (by September). Over the next few weeks and months we will be working with Border Trust to transition all Jackman customer accounts to Skowhegan Savings.
Q: Who should I contact for more information?
A: Customer Service Representatives at both banks are happy to help customers with questions regarding their accounts and the transition:
Skowhegan Savings
800-303-9511; www.skowsavings.com
Border Trust
800-769-1549; www.bordertrust.com
You can also contact presidents at both banks:
John C. Witherspoon, President and CEO, Skowhegan Savings
207-474-9511; jwitherspoon@skowsavings.com
Earle F. Harvey, President and CEO, Border Trust Company
207-557-2224; eharvey@bordertrust.com |
