Rep. Henry Joy (R-Crystal) recently presented Katahdin Trust Co. President and Chief Executive Officer Jon Prescott with a proclamation from Gov. John E. Baldacci declaring March 7 as “Katahdin Trust Company 90th Anniversary Day” throughout the state of Maine.
Staff photo/Scott Mitchell Johnson
Gov. John E. Baldacci proclaimed March 7 as “Katahdin Trust Co. 90th Anniversary Day.” Since its opening in Patten March 7, 1918, Katahdin Trust Co., a locally owned and operated community bank, has grown to 14 branch locations throughout Aroostook County and northern Penobscot. Last Friday, the bank was in a celebratory mood. Pictured displaying the framed proclamation and a huge birthday cake are, from left: Vicki Smith, senior vice president of marketing; and Pete St. John, senior vice president, commercial services.
In accepting the proclamation, Prescott said, “The Bank is proud of its 90-year history serving the northern Maine area, and on behalf of the board of directors and employees, I extend our thanks to the individuals and businesses that have supported us over the years. Our success is indeed because of their great support and the trust they have placed in us.”
Prescott also thanked the bank’s 156 employees for their continuing dedication in serving the financial needs of their local communities.
Joe Pietroski, president of the Maine Bankers Association, also expressed his gratitude to Katahdin Trust Co.
“It’s wonderful to see a local community bank celebrate such a great milestone as 90 years,” said Pietroski. “The bank is a strong supporter of the local communities it serves as reflected in its loan volume, its contributions of time and money, and the involvement of its employees, including the commitment and dedication they have to financial literacy.”
Since its opening in Patten March 7, 1918, Katahdin Trust Co., a locally owned and operated community bank, has grown to 14 branch locations throughout Aroostook County and northern Penobscot, a loan production office in Scarborough, and a second loan production office slated to be open on Stillwater Avenue in Bangor by mid-March.
Katahdin Trust Co. provides a wide range of business and personal banking services, including the convenience of 24/7 service with telephone banking, ATMs, online banking, bill payment and presentment, and its newest “eCheck Deposit” service, which enables a business to make deposits without having to leave the comfort of their office. The bank also offers insurance and investment services through Katahdin Financial Services.
In 2007, Katahdin Trust Co. contributed over $114,000 to the local communities it serves with donations to organizations such as local food pantries, Dollars for Scholars, local snowmobile clubs, the Northern Maine Community College Campaign, and local festivals and events, to economic development efforts such as Aroostook Partnership for Progress, Upper Valley Economic Group and Southern Aroostook Development Corp.
Katahdin Trust Co.’s contributions are not limited to just financial support, as the bank encourages and supports management and staff to be active volunteers in their local communities. In 2007, employees contributed over 11,000 hours to a variety of community organizations ranging from hospital, school, United Way and economic development boards to civic organizations such as Rotary and Kiwanis, and various community activities such as Little League baseball, American Red Cross and Junior Achievement.
Katahdin Trust Co. has nearly $430 million in assets. Katahdin Bankshares Corp. stock, the parent company of Katahdin Trust Co., is quoted on the NASDAQ Over-the-Counter Bulletin Board (OTCBB) under the symbol KTHN. Current stock information can be found on the OTCBB Web site at www.otcbb.com.
The Proclamation reads as follows:
Whereas, in 1918, a group of citizens committed to the economic well being of the northern Maine area opened a bank in Patten; and
Whereas, Patten at the north entrance of Baxter State Park has a breathtaking view of Mt. Katahdin the bank was proudly named Katahdin Trust Co.; and
Whereas, the first directors of Katahdin Trust Co. were committed to a vision of meeting the needs of the local community, their legacy continues to enrich northern Maine communities; and
Whereas, Katahdin Trust Co. remains a locally owned and operated community bank committed to adding to the quality of life of the communities it serves through their financial support and the volunteer efforts of their employees who collectively contribute over 11,000 hours annually of their time; and
Whereas, Katahdin Trust Co. plays a significant role in local economic development efforts, stimulating the economy to produce jobs and new opportunities; and
Whereas, in its 90th year Katahdin Trust Co. has grown to nearly $430 million in assets with 14 full service offices in northern Maine and loan production offices in Bangor and Scarborough.
Now, therefore, I, John E. Baldacci, Governor of the State of Maine, do hereby proclaim March 7, 2008 as Katahdin Trust Co. 90th Anniversary Day throughout the State of Maine, and urge all citizens to recognize this observance.
