Gorham Savings Bank
Gorham Savings Bank is a privately held, FDIC-insured Maine community bank (operating as Maine Community Bank) founded in 1868, serving individual consumers, small and medium businesses, and high-net-worth clients exclusively in Maine through branches, online, and mobile channels with a full suite of traditional banking products.
- Company typePrivate
- Founded1868
- HeadquartersGorham, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Gorham Savings Bank does
Gorham Savings Bank, operating under the consumer-facing brand "Maine Community Bank" with the positioning "All in on Maine," is a privately held, FDIC-insured, state-chartered community bank founded in 1868 and headquartered in Gorham, Maine. It serves individual consumers, small and medium businesses, and high-net-worth clients exclusively within the state of Maine through a distribution model that combines physical branches, an online banking platform, a mobile application, a contact center, and business remote deposit capture. The bank reports 51–100 employees and emphasizes local decision-making, community reinvestment of deposits, and personal relationship banking as differentiators against larger national institutions.
The product portfolio spans the full traditional banking stack: deposit products (checking, savings, money markets, CDs, IRAs), consumer lending (mortgages, home equity, consumer loans, construction loans), commercial lending (CRE, small business loans, working capital lines of credit), business cash management (merchant services, online payments, invoicing, business credit cards), and wealth management. Differentiated offerings include 207 Rewards Checking (10 cents cash back per purchase, ATM fee reimbursement, no monthly maintenance, waived overdraft fees), Smart Start hoME Loan (up to 100% financing for first-time buyers with no income limits), and Made in ME Construction Loans (5% down). Supporting infrastructure includes a Digital Academy (knowledge.maine.bank) for financial wellness and integrated third-party platforms such as ProfitStars SmartPay for business remote deposits.
Revenue is generated through three core mechanics: net interest income from the lending book, the deposit–loan interest spread, and fee-based services (merchant services, credit card, cash management, and potential overdraft/ATM fees). The go-to-market motion is sales-led and relationship-based, leveraging physical presence, community involvement, and word-of-mouth referrals in Maine. Operating signals include an ongoing Scarborough-Hannaford Drive branch renovation (reopening fall 2025) and a systems integration event that temporarily suspended online banking until August 25, both of which point to continued investment in physical and digital infrastructure rather than geographic expansion.
Gorham Savings Bank firmographics
Firmographics- Name
- Gorham Savings Bank
- Legal name
- Gorham Savings Bank
- Website
- https://gorhamsavingsbank.com
- Company type
- Private
- Founded year
- 1868
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Gorham Savings Bank is a privately held, FDIC-insured Maine community bank (operating as Maine Community Bank) founded in 1868, serving individual consumers, small and medium businesses, and high-net-worth clients exclusively in Maine through branches, online, and mobile channels with a full suite of traditional banking products.
- Ownership category
- akta.pro rank
Gorham Savings Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Savings Banks (Public/State-Owned) (FSABAKAK)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)
Keywords
Where Gorham Savings Bank is headquartered
LocationHeadquarters
- HQ city
- Gorham
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Gorham Savings Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income from Lending: Traditional bank interest income from mortgage loans, home equity loans, commercial real estate loans, small business loans, consumer loans, and construction loans.
- Deposit Interest Spread: Interest spread between deposits (checking, savings, money markets, CDs) and loans extended to customers.
- Fee-based Services: Merchant services fees, credit card fees, cash management fees, and potential overdraft/ATM fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | 207 Rewards Checking - Debit card with cash back and fee benefits |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
Gorham Savings Bank product offering
Product offeringCore offering
Gorham Savings Bank, operating as Maine Community Bank, is a Maine-only community bank founded in 1868 that provides deposit products (checking, savings, money markets, CDs, IRAs), lending products (mortgages, home equity, construction loans, commercial real estate loans, small business loans, working capital lines of credit, consumer loans), cash management services including merchant services and business credit cards, and wealth management services. All deposits remain in Maine to support local families and businesses.
Product overview
Gorham Savings Bank (operating as Maine Community Bank) offers a comprehensive suite of traditional banking products and services for both personal and business customers. The product portfolio includes deposit products (checking, savings, money markets, CDs, IRAs), various loan products (mortgages, home equity, construction loans, commercial real estate, small business loans, working capital lines of credit), digital banking platforms (online and mobile banking), and cash management services. Key branded products include the 207 Rewards Checking (rewards debit card), Smart Start hoME Loan (first-time buyer mortgage), Made in ME Construction Loans, and Merchant Services for business payment processing. The bank also provides wealth management and educational resources through its Digital Academy.
Differentiator
Problem solved
Functional benefit
Brands
- 207 Rewards Checking: Rewards checking debit card with 10 cents cash back on every purchase, ATM fee reimbursement, and interest earning features.
Products and services
- 207 Rewards Checking Rewards debit card offering 10 cents cash back on every purchase, with interest earning, reimbursed ATM fees, no monthly maintenance charges, and waived overdraft fees, targeted at Maine consumers seeking everyday banking with cash back rewards.
- Personal Checking & Savings Personal banking accounts including checking, savings, money markets, CDs, and IRAs for Maine consumers.
- Smart Start hoME Loan First-time home buyer mortgage offering up to 100% financing options with no income limitations, designed to address home ownership financing challenges in Maine.
- Home Loans (Mortgages & Home Equity) Residential mortgage loans and home equity products for purchasing or refinancing homes for Maine consumers.
- Made in ME Construction Loans Construction loan for building homes in Maine with as little as 5% down payment.
- Consumer Loans Personal consumer loans including personal lines of credit for individual Maine customers.
- Online & Mobile Banking Digital banking platform providing online banking and mobile app access for personal and business customers, including bill pay, eStatements, and account management.
- Business Checking & Savings Business banking accounts including checking, savings, money markets, and CDs for Maine small and medium businesses.
- Business Loans Commercial lending products including commercial real estate loans, small business loans, and working capital lines of credit for Maine businesses.
- Cash Management Business cash management services including business credit cards, online payments, invoicing, and merchant services for Maine businesses.
- Merchant Services Local merchant services for businesses providing low rates, local support, payment processing, and streamlined cash flow management for Maine merchants.
- Wealth Management Wealth management services for personal and business customers including asset management and financial advisory.
- Insurance Insurance products offered through the bank's personal services portfolio.
Companies that use Gorham Savings Bank
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles2 records
Gorham Savings Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Gorham Savings Bank partnerships and signals
Strategic signalScale indicators1 record
Recent moves6 records
Expansion highlights5 records
Gorham Savings Bank competitors and assessment
Company assessmentRegional players
- First National Bank of Damariscotta: Maine community bank serving Midcoast communities with personal, business, and mortgage banking. Comparable scale and Maine community banking focus but concentrated in distinct Midcoast geography.
Direct peers
- Northeast Bank: Maine-based chartered bank providing community banking, SBA lending, and online deposit products. Comparable Maine footprint with overlapping consumer/SMB banking services.
- Bath Savings Institution: State-chartered Maine savings institution providing consumer and business banking, mortgages, and wealth services. Operates in similar coastal Maine markets with a comparable community-savings-bank business model.
- Bangor Savings Bank: Maine-based community bank offering personal/business banking, mortgages, and wealth management. Direct competitor serving overlapping Maine geographies with comparable relationship-led community banking model.
- Norway Savings Bank: Maine-based mutual savings bank offering personal, business, and mortgage banking. Comparable community-bank positioning with overlapping Western/Central Maine footprint.
- Camden National Bank: Maine-headquartered community bank with full-service consumer, commercial, and wealth offerings. Closest scale-comparable peer competing directly across Maine deposit and lending markets.
- Androscoggin Bank: Maine community bank offering personal, business, and wealth management services. Competes in adjacent Maine markets with a comparable community-bank operating model.
- Bar Harbor Bank & Trust: Maine community bank with personal, business, and wealth management offerings across coastal and northern New England markets. Comparable community banking approach with similar product breadth.
- Kennebec Savings Bank: Maine community savings bank providing consumer, business, and mortgage banking in central Maine. Similar size and mutual/community-bank orientation with comparable product set.
Broad incumbents
- TD Bank (Maine branches): Large multi-state bank with substantial Maine branch presence offering the full deposit, lending, and digital suite. Competes for same Maine consumer/SMB customers but with broader geographic and product portfolio.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Gorham Savings Bank social profiles
Digital presenceGorham Savings Bank compliance and trust
Trust signalCompliance1 record
Gorham Savings Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gorham Savings Bank leadership team
Management profileNumber of profiles
Profiles1 record
Gorham Savings Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gorham Savings Bank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gorham Savings Bank
What does Gorham Savings Bank do?
Gorham Savings Bank, operating as Maine Community Bank, is a Maine-only community bank founded in 1868 that provides deposit products (checking, savings, money markets, CDs, IRAs), lending products (mortgages, home equity, construction loans, commercial real estate loans, small business loans, working capital lines of credit, consumer loans), cash management services including merchant services and business credit cards, and wealth management services. All deposits remain in Maine to support local families and businesses.
Is Gorham Savings Bank a public or private company?
Gorham Savings Bank is a private company. It is classified as unknown and is currently operating.
When was Gorham Savings Bank founded?
Gorham Savings Bank was founded in 1868. It employs 51 to 100 people.
Where is Gorham Savings Bank based?
Gorham Savings Bank is headquartered in Gorham, United States, in the North America region.
How does Gorham Savings Bank make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Interest Spread and fee-based Services.
Who are Gorham Savings Bank's main competitors?
First National Bank of Damariscotta is listed as a regional player. Direct peers are Northeast Bank, Bath Savings Institution, Bangor Savings Bank, Norway Savings Bank, Camden National Bank, Androscoggin Bank, Bar Harbor Bank & Trust and Kennebec Savings Bank. TD Bank (Maine branches) is listed as a broad incumbent.
Does Gorham Savings Bank have an API?
No public API is recorded for Gorham Savings Bank.
What industry is Gorham Savings Bank in?
Gorham Savings Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAKAK, Savings Banks (Public/State-Owned), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52218 and its SIC code is 6036.