Machias Savings Bank

What Machias Savings Bank does

Machias Savings Bank is a state-chartered mutual savings bank founded in the 1870s in Machias, Maine, and headquartered at 4 Center Street. It operates 15 branch locations across Maine and New Hampshire, with a first New Hampshire branch in Manchester opened in May 2026. The bank serves three primary segments — Personal, Small Business, and Commercial — plus a smaller Government/Public Sector segment, all in the New England region.

Its product portfolio is a traditional community banking suite: deposit products (My MSB Checking, My MSB Savings, High Yield Savings, Money Fund, CDs, HSAs, Traditional and Roth IRAs, SEP plans), lending products (fixed-rate mortgages, HELOCs, home equity loans, construction and seasonal mortgages, land-only and Maine State Housing loans), credit cards on the MasterCard network (personal, small business, and commercial variants), and commercial banking services (treasury services, payroll, liquidity solutions, payables/receivables). The digital banking stack consists of MSB Online, MSB Mobile (iOS/Android with biometric login and mobile deposit), MSB BillPay (CheckFree-powered), Text Banking, Fraud Text Alerts, and Voice ID biometric authentication. The lending stack is anchored by an Ellie Mae mortgage origination portal, and a May 2026 partnership with Vikar Technologies introduced end-to-end digital HELOC origination. Ecosystem integrations include Zelle for P2P payments, ClickSWITCH for account migration, and Autobooks for small business accounting.

As a mutual savings bank owned by its depositors rather than shareholders, Machias Savings Bank does not publicly disclose financial statements. Revenue is generated through net interest income on the lending book (mortgages, HELOCs, commercial and small business loans), deposit account fees, credit card interchange and interest, treasury and commercial service fees, and digital banking transaction fees. Pricing is high-volume and relationship-driven, exemplified by no-minimum-balance checking and a 5.99% introductory HELOC rate. Go-to-market is a hybrid community-bank model: 15 physical branches supported by local loan officers and relationship managers, combined with self-serve digital channels. The bank has earned five consecutive Outstanding CRA ratings and is consistently recognized for workplace culture.

Name

Machias Savings Bank

Legal name

Machias Savings Bank

Website

https://machiassavings.bank

Company type

Private

Founded year

1875

Operating status

Operating

Headcount range

251–500 employees

Short description

Machias Savings Bank is a state-chartered mutual savings bank headquartered in Machias, Maine, operating 15 branches across Maine and New Hampshire. It offers retail deposits, mortgages, HELOCs, commercial lending, treasury services, and digital banking to personal, small business, and commercial customers in New England.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Credit Card Issuing (52221)

SIC

Savings Institutions, Not Federally Chartered (6036), Personal Credit Institutions (6141)

akta.pro primary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

akta.pro secondary industry

Microloans & Working Capital Loans (FSAKAGAA)

Keywords

• Community banking services
• Retail deposit products
• Mortgage lending
• Commercial banking solutions
• Digital banking platforms

Headquarters

HQ city

Machias

HQ country

United States

HQ region

North America

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on mortgage loans, HELOC, personal loans, business loans, and commercial financing. Includes fixed-rate mortgages, construction loans, and home equity products.
2. Deposit Account Fees: Fee income from checking accounts, savings accounts, CDs, and money market accounts including overdraft fees, maintenance fees, and ATM fees.
3. Credit Card Revenue: Income from credit card transactions, annual fees, and interest on outstanding balances for personal and business Mastercard products.
4. Commercial Banking Services: Treasury services, payroll processing, cash management, and business checking/savings products for commercial customers.
5. Digital Banking Services: Revenue from wire transfers, external fund transfers, and bill pay services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Machias Savings Bank is a state-chartered mutual savings bank that delivers traditional banking services through 15 branch locations across Maine and New Hampshire. The bank offers personal deposit and loan products (checking, savings, mortgages, HELOCs, credit cards), small business banking (loans, checking, payroll), and commercial banking services (commercial loans, treasury management, commercial credit cards), supported by MSB Online and MSB Mobile digital channels.

Product overview

Machias Savings Bank is a regional community bank headquartered in Machias, Maine, operating 15 branch locations across Maine and New Hampshire. Its product portfolio is organized around three customer segments — Personal, Small Business, and Commercial — and consists primarily of traditional banking deposit and loan products supported by a layered digital banking stack. The core digital platform includes MSB Online (desktop banking), MSB Mobile (iOS/Android app with biometric login and mobile deposit), MSB BillPay (powered by CheckFree), Text Banking, and Voice ID for phone authentication. Deposit products span checking (My MSB Checking), savings (My MSB Savings, High Yield Savings), money market funds, certificates of deposit, HSAs, IRAs, and SEP plans. Lending offerings include fixed-rate mortgages, HELOCs, home equity loans, construction and seasonal mortgages, land loans, and Maine State Housing programs (via the Ellie Mae mortgage portal), plus small business loans, commercial loans, and business/commercial credit cards on the MasterCard network. Add-on services include treasury and cash management (Autobooks, Payables and Receivables, Liquidity Solutions, Payroll), CardSwap for card-on-file updates, Customer to Customer Transfers, External Funds Transfers, Fraud Text Alerts, Financial Coaches, and a Financial Tools/Calculators suite. The May 2026 partnership with Vikar Technologies introduced end-to-end digital HELOC origination capabilities, marking the bank's most significant recent technology enhancement alongside its expansion into New Hampshire.

Differentiator

Problem solved

Functional benefit

Products and services

• My MSB Checking Personal checking account with no minimum balance requirement and no monthly fees, designed for straightforward everyday banking for individual consumers.
• My MSB Savings Personal savings account offering tiered interest rates where higher balances earn increased rates, with unlimited transactions and no minimum balance or monthly fee.
• High Yield Savings Savings account with an above-standard interest rate designed to help customers reach financial goals more quickly, available for both personal and small business customers.
• My MSB Health Savings (HSA) Health Savings Account paired with high-deductible health plans, allowing individuals to save and pay for qualified medical expenses with tax-advantaged contributions.
• My MSB Money Fund Money market fund account offering competitive interest rates with the ability to earn yield on balances while maintaining check-writing access.
• My MSB Certificate of Deposit Time deposit product where customers deposit funds for a fixed term in exchange for a guaranteed interest rate, suitable for growing savings over a defined period.
• Traditional IRA & Roth IRA Individual Retirement Accounts providing tax-advantaged retirement savings options — Traditional IRA with tax-deferred contributions and Roth IRA with after-tax contributions and tax-free qualified withdrawals.
• Simplified Employee Pension (SEP) Plan Retirement savings plan for self-employed individuals and small business owners, allowing tax-deductible contributions to a SEP IRA for themselves and their employees.
• Fixed-Rate Mortgage Conventional mortgage product with a fixed interest rate and consistent monthly payment over the life of the loan, available through the Ellie Mae mortgage portal.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity, offering a limited-time 5.99% APR introductory rate for the first 12 months with up to $750 off closing costs on a $25,000 minimum line amount, delivered through a digital lending experience powered by the Vikar Technologies partnership.
• Home Equity Loan Fixed-rate second mortgage product allowing homeowners to access a lump sum of their home equity for purposes such as home improvements, debt consolidation, or major purchases.
• Construction Mortgage Specialized mortgage product for home construction, allowing borrowers to finance the building of a new home with disbursements tied to construction progress.
• Seasonal Mortgage Mortgage product tailored for seasonal or vacation properties, designed for properties used part of the year.
• Mobile Home and Land Loan Financing product for the purchase of mobile homes and the land on which they sit, offered as part of the broader mortgage portfolio.
• Land-Only Loan Loan product for purchasing unimproved land without a dwelling, available through the mortgage center.
• Maine State Housing Mortgage Program Mortgage program in partnership with Maine State Housing Authority, offering down payment assistance and favorable financing terms for eligible Maine homebuyers.
• MasterCard Personal Credit Cards Personal credit card offerings issued on the MasterCard network, available in low-rate and rewards-earning variants to suit different consumer preferences for travel and everyday spending.
• MSB Online Banking Digital banking platform enabling customers to check balances, view account histories, transfer funds between MSB accounts, make stop payment requests, view check images, view statements, and reorder checks — available 24/7 on desktop.
• MSB Mobile Banking Mobile banking application available via iOS and Android (Apple App Store and Google Play) providing balance inquiries, internal fund transfers between eligible MSB accounts, bill payment access, and account alerts, with optional biometric (fingerprint) login and mobile deposit capture.
• MSB BillPay Online bill payment service for MSB checking account holders, available through MSB Online and MSB Mobile. No fees are charged for the BillPay service; subject to the Terms and Conditions set forth by CheckFree.
• Text Banking SMS-based banking service enabling customers to check account balances, view transaction history, and transfer funds between accounts by sending text commands to a short code (226563).
• Exceptional Business Checking Business checking account with enhanced features and services designed for small to mid-sized businesses, available with MSB Business Online access.
• Exceptional Business Savings Business savings account with competitive interest rates for small business customers to grow their deposits.
• Essential Business Fund Business checking account product designed to meet essential banking needs of small businesses with straightforward account features.
• Small Business Loans Business financing solutions including working capital, equipment financing, and commercial real estate loans, delivered through relationship bankers invested in local business success.
• MasterCard Business Credit Cards Business credit cards on the MasterCard network designed for small business owners, offering features tailored to business spending and financial management.
• Payroll Services Payroll processing services for small business and commercial customers, offered through the Treasury Services and small business banking divisions.
• Commercial Loans Commercial financing products including term loans, commercial real estate financing, and lines of credit for businesses, delivered by a team that understands commercial customer needs.
• MasterCard Commercial Credit Cards Commercial credit card products on the MasterCard network for larger commercial and corporate customers, supporting expense management and treasury operations.
• Treasury Services Cash management and treasury services for commercial customers including liquidity solutions, payables and receivables management, fraud mitigation, and payroll services.

Quantifiable outcome

• Outstanding CRA rating achieved by only about 10% of banks nationwide, 5 consecutive times
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Vikar TechnologiescoreTechnology or Integration · 1 May 2026Partnership to enhance digital lending platform delivering end-to-end digital lending solutions including streamlined Home Equity Line of Credit (HELOC) applications for homeowners throughout the New England region. The collaboration combines technology-driven solutions with local service delivery.
• ZellecoreTechnology or IntegrationIntegrated payment service allowing customers to send money quickly to friends and family through the MSB Online and Mobile Banking platforms.
• GreenPath Financial WellnessminorStrategic or Co-development PartnerFinancial wellness partnership providing customers access to financial coaching and counseling services.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Camden National Bank: Maine-headquartered community bank with a similar full-service personal, small business, and commercial banking offering across coastal and central Maine, directly overlapping MSB's customer segments and product mix.
• Bangor Savings Bank: Maine-based mutual savings bank with comparable deposit, mortgage, and small-business products and a community-banking model that directly competes with MSB across its home state.
• Bar Harbor Bankshares: Maine community bank holding company serving similar coastal and rural Maine markets with comparable deposit and consumer/commercial lending products.
• Norway Savings Bank: Maine mutual savings bank with a similar community-banking focus, comparable product set (deposits, mortgages, HELOCs, business banking), and overlapping footprint in western and southern Maine.
• Kennebec Savings Bank: Maine community bank offering personal, mortgage, and business banking products in central Maine, with a similar relationship-driven community bank model.

Regional players

• Meredith Village Savings Bank (MVSB): New Hampshire mutual savings bank serving a comparable customer base with similar deposit, mortgage, and commercial banking products; relevant now that MSB has expanded into NH.
• Lake Sunapee Bank (Bar Harbor Bank & Trust NH division): New Hampshire-headquartered community bank offering deposit, mortgage, and small-business products to a similar customer profile; a direct competitor in MSB's new Manchester market.

Broad incumbents

• TD Bank (New England): Large regional bank with dense branch presence across New England including Maine and New Hampshire; competes for the same deposit, mortgage, HELOC, and small-business customers as MSB at greater scale.
• KeyBank: National commercial bank with a strong New England commercial banking franchise; competes with MSB's commercial lending and treasury services segment, particularly in mid-sized commercial relationships.

Others

• GreenPath Financial Wellness: Existing MSB partner providing financial counseling/coaching to bank customers; an ecosystem participant rather than a competitor, but indicative of the adjacent financial-wellness category MSB has embraced.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/machiassavings
• LinkedInlinkedin.com/company/machias-savings-bank
• Xx.com/machiassavings

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Machias Savings Bank