Bath Savings

What Bath Savings does

Bath Savings Institution is a mutual savings bank founded in 1852 and headquartered in Bath, Maine, serving individual consumers and small-to-mid-size businesses across the coastal Maine counties of Lincoln, Sagadahoc, and Cumberland. The bank operates 11 physical branches complemented by online and mobile banking, workplace banking programs with local employers, and a wholly-owned wealth management subsidiary, Bath Savings Trust Company (established 1989, ~$1.8B AUM), providing investment management, 401(k) rollover, retirement planning, trustee, and estate services. Core products span deposit accounts (Packard Advantage Checking, Select Advantage Checking, Regular and Premium Savings, HSA, CDs/IRAs, children's Sneakers program), consumer lending (auto, personal, education, mortgage, land, construction), business banking (Easy Business Checking, NOW, Commercial, eChecking, Neighbor to Neighbor Business and Non-Profit Checking, commercial loans and lines of credit), Mastercard credit and debit cards with Apple/Google/Samsung Pay support, Zelle P2P payments, and a Greenlight SELECT partnership for kids' money management.

Underlying technology is a standard digital banking platform with online and mobile apps offering Instant Balance, Mobile Deposit, CardValet card controls, and BillPay; integrations are handled through third-party providers (Quicken Direct Connect, Zelle via Early Warning Services, Greenlight, Wolters Kluwer BizFilings) rather than proprietary AI. Security relies on 128-bit encryption, dedicated servers, firewalls, FDIC insurance, and Mastercard Zero Liability protection.

The business model is a traditional spread-and-fee community bank: net interest income on mortgage, commercial, personal, auto, and education loans funded by deposits; service fees on accounts, ATM, overdraft, and wire transactions; percentage-of-AUM fees at BSTC; credit card interchange and interest; and commercial banking fees on merchant services and ACH. Pricing is publicly disclosed (CDs 2.17%-2.53% APY, auto loans 5.625%-7.250%, classic credit card 13.00% variable, Platinum Rewards 15.00% variable) with relationship-based fee waivers on deposit accounts. Customer acquisition is primarily local through branch presence, employer workplace banking partnerships, community programs (Neighbor to Neighbor, FDIC Money Smart, Teach Children to Save), and word-of-mouth rather than paid digital marketing.

Name

Bath Savings

Legal name

Bath Savings Institution

Website

https://bathsavings.bank

Company type

Private

Founded year

1852

Operating status

Operating

Headcount range

101–250 employees

Short description

Bath Savings Institution is a mutual savings bank founded in 1852 in Bath, Maine, serving individual consumers and small-to-mid-size businesses across coastal Maine's Lincoln, Sagadahoc, and Cumberland Counties with deposit accounts, consumer and commercial lending, digital banking, and wealth management through its wholly-owned Bath Savings Trust Company.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Portfolio Management and Investment Advice (523940)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ)

Keywords

• Community banking services
• Consumer lending products
• Commercial lending services
• Trust and wealth management
• Mortgage and deposit accounts

Headquarters

HQ city

Bath

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including mortgages, commercial loans, personal loans, auto loans, and education loans. Interest paid on deposits represents a cost.
2. Service Fees: Monthly service charges on accounts, ATM fees, overdraft fees, wire transfer fees, stop payment fees, and other banking service charges
3. Investment Management Fees: Bath Savings Trust Company charges fees based on percentage of assets under management for investment management, 401(k) rollover management, retirement planning, trustee work, and trust and estate planning services
4. Credit Card Fees: Transaction fees and interest from credit card products including Mastercard Classic and Platinum Rewards cards
5. Commercial Banking Services: Fees from business checking accounts, merchant services for credit card processing, ACH transaction services, and commercial lending

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

Bath Savings Institution is a mutual savings bank founded in 1852 serving coastal Maine communities. It provides a comprehensive suite of personal and business banking products including checking accounts, savings accounts, CDs/IRAs, debit and credit cards, auto loans, personal loans, education loans, mortgages, home equity, land and construction loans, commercial loans and lines of credit, merchant services, and workplace banking programs. The bank also operates Bath Savings Trust Company, offering investment management, 401(k) rollover, retirement planning, trustee, and trust and estate planning services with approximately $1.8 billion in assets under management.

Product overview

Bath Savings Institution is a Maine-based community bank serving coastal Maine since 1852. The company operates as a mutual organization providing a comprehensive range of banking products through multiple delivery channels including branch banking, online banking, and mobile banking. The core banking platform encompasses Personal Banking (checking accounts including Packard Advantage and Select Advantage Checking, savings accounts, Health Savings Accounts, CDs/IRAs, credit cards, debit cards), Consumer Lending (auto loans, personal loans, student loans, and mortgages including land and construction loans), Business Banking (various checking account types, commercial loans, online/mobile banking, cash administration, workplace banking), and Investment Services through Bath Savings Trust Company (investment management, 401(k) rollover, retirement planning, trustee services, estate planning with approximately $1.8 billion AUM). Digital services include online and mobile banking apps, digital wallet support for Apple Pay/Google Pay/Samsung Pay, Zelle P2P payments, Quicken Direct Connect integration, and Greenlight kids money app partnership. The Neighbor to Neighbor community program differentiates the bank through local nonprofit donations and gift certificates to community businesses.

Differentiator

Problem solved

Functional benefit

Brands

• Sneakers in the Bank: Children's savings program featuring Sneakers the Cat mascot, designed to teach kids to save from an early age
• Neighbor to Neighbor
• Greenlight

Products and services

• Online Banking 24/7 secure browser-based access to account information including balances, transactions, check images, and interest information, with BillPay and eStatements.
• Mobile Banking App Smartphone and tablet app providing mobile access to account information with features including Instant Balance, Mobile Deposit, CardValet, and Zelle integration.
• Digital Wallet Mobile payment integration supporting Apple Pay, Google Pay, and Samsung Pay for contactless in-store payments with Bath Savings Mastercard debit and credit cards.
• Zelle P2P Payments P2P payment service integrated within mobile banking and online BillPay enabling fast money transfers between bank accounts using email or mobile phone number.
• Greenlight Money App Kids' money management app and debit card partnership offering chore automation, savings goals, spending notifications, and financial literacy games for family financial education.
• Packard Advantage Checking Interest-bearing personal checking account with relationship rewards including preferred CD rates, safe deposit box discount, higher ATM limits, free domestic wire transfers, and free Packard checks.
• Select Advantage Checking Low-cost basic personal checking account with online banking, mobile banking, BillPay, and debit card designed for customers seeking simple banking without monthly service charges.
• Neighbor to Neighbor Advantage Checking Personal checking account that includes a $25 donation to nonprofit of choice when opened with $100 deposit, plus $10 gift certificate to local Neighbor to Neighbor business.
• Regular Savings Basic personal savings account with $5 minimum deposit and minimum balance requirement, earning interest on balances above $5.
• Premium Statement Savings High-yield personal savings account requiring $2,500 minimum deposit with competitive interest rates and $2,500 minimum balance for best rate.
• Health Savings Checking Account Tax-advantaged savings account for HDHP-eligible individuals with debit card, unlimited check writing for medical expenses, and free BillPay with eStatements.
• Sneakers in the Bank Children's savings program featuring Sneakers the Cat mascot, Frequent Savers program with prizes, and Sneakers CD with $5 gift certificate incentive for $100+ deposits.
• Certificates of Deposit & IRAs Fixed-term savings products including 9 Month No Penalty CD, Opportunity CD with one-time rate upgrade option, Laddered CD, and traditional IRA options with competitive APYs.
• Debit MasterCard EMV chip debit card accepted globally with contactless payment capability via digital wallets, cash withdrawals, balance inquiries, and MasterCard Zero Liability fraud protection.
• Mastercard Classic Credit Card Fixed-rate credit card with 13.00% variable APR and no annual fee, accepted at millions of merchants worldwide.
• Mastercard Platinum Rewards Credit Card Rewards credit card earning 1 point per $1 spent on uChoose Rewards, redeemable for cash, travel, and merchandise. 15.00% variable APR.
• Auto Loans Vehicle financing for new and used automobiles with competitive rates not based on vehicle age, including automatic payment discounts for BSI deposit account holders.
• Personal Loans Flexible consumer financing for boats, recreational vehicles, motorcycles, ATVs, jet skis, and loans secured by savings or stock at Bath Savings Trust.
• Private Student Loans Education financing for Maine residents and out-of-state students attending Maine colleges, with competitive variable/fixed rates and multiple repayment options including in-school deferment.
• Student Loan Consolidation Refinancing and consolidation service combining multiple student loans into one payment with competitive rates, available to Maine residents or those who attended Maine schools.
• Home Mortgages Conventional mortgage financing for home purchases and refinances, including first-time buyer programs and affordable housing options with Maine State Housing Authority partnerships.
• Land Loans Financing for vacant land purchases with adjustable rate options and discounted rates for 35%+ down payments, convertible to a construction loan when ready to build.
• Construction Loans One-step construction-to-permanent loans combining construction financing with permanent mortgage, featuring interest-only payments during construction and monthly draws per work completed.
• Easy Business Checking Basic business checking ideal for low-transaction businesses with $25 minimum deposit, no minimum balance, free online banking, and $0.50 per item after 100 free items.
• Business NOW Checking Interest-bearing business checking for sole proprietors and nonprofits with $100 minimum deposit, competitive earnings credits, and free Business BillPay.
• Commercial Checking Business checking for large corporations, partnerships, and small family businesses with earnings credit to reduce service fees.
• Business eChecking Electronic-focused business checking with free Business Online BillPay and all the convenience of digital banking.
• Neighbor to Neighbor Business Checking Non-interest bearing business account with predictable fees, designed for businesses participating in the Neighbor to Neighbor community program.
• Neighbor to Neighbor Non-Profit Checking Cost-efficient checking account designed specifically for nonprofit organizations with Neighbor to Neighbor program benefits.
• Commercial Loans & Lines of Credit Business lending including small business term loans, commercial mortgages, investment real estate mortgages, construction loans, and government-guaranteed loans (SBA, FAME, Rural Development, CEI).
• Business Online Banking Comprehensive business banking platform with real-time balances, fund transfers, QuickBooks integration, BillPay, payroll administration, and ACH batch processing.
• Mobile Business Banking Mobile app for business cash management enabling balance viewing, transaction review, check images, transfers, approvals (ACH, Positive Pay, loans, bill payments), remote check deposits, and bill payments.
• Cash Administration Business cash management services including merchant services for credit/debit card acceptance and ACH transaction services for direct deposit and direct payment batch processing.
• Workplace Banking Employer-sponsored banking program offering employees discounted mortgage processing (25%), rate discounts on auto loans (0.25%), free checks, free online banking, and workplace financial education.
• Investment Management (Bath Savings Trust Company) Fee-only investment management for individuals, businesses, municipalities, and nonprofits with approximately $1.8 billion in assets under management.
• 401(k) Rollover Management Assistance with rolling over retirement funds from previous employers, providing control over assets and optimization for growth.
• Retirement Planning Financial planning service balancing retirement savings with other goals to create a solid foundation for future financial security.
• Trustee Services Independent trustee services administering trusts professionally and efficiently to ensure client wishes are met.
• Trust and Estate Planning Collaborative estate planning working with legal and tax advisors to develop comprehensive long-term wealth transfer strategies.
• BSTC Online Portal Secure online access for investment account holders to view balances, transactions, print statements, and access updated transaction history.
• SBA PPP Loan Forgiveness Assistance with Paycheck Protection Program loan forgiveness applications including Form 3508S (simplified for loans $50,000 or less), Form 3508EZ, and revised Form 3508.
• Beneficial Ownership Information Reporting Partnership with BizFilings to help small businesses file Beneficial Ownership Information Reports under the Corporate Transparency Act with streamlined five-step process.

Quantifiable outcome

• Trust Company assets under management grew to over $1.8 billion under President Thomas Whelan's 12-year leadership
• +3 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature7 records

Partnerships

13 partnerships are on record, tiered minor and core.

• GreenlightminorGTM or Marketing PartnerGreenlight provides a money management app and debit card for kids. Bath Savings customers are eligible for Greenlight SELECT subscription at no cost when connecting their BSI account as the funding source. Partnership targets families with children to teach financial literacy.
• QuickencoreTechnology or IntegrationQuicken software integration allows Bath Savings personal online banking customers to directly link their accounts for automatic transaction import and account management through Direct Connect service.
• ApplecoreTechnology or IntegrationApple Pay integration allows Bath Savings Mastercard holders to make secure contactless payments using iPhone and Apple Watch devices with biometric authentication.
• GooglecoreTechnology or IntegrationGoogle Pay integration allows Bath Savings cardholders to pay with Android devices at contactless terminals, using virtual account numbers for security.
• SamsungcoreTechnology or IntegrationSamsung Pay integration enables Bath Savings cardholders to make secure mobile payments using Samsung devices with fingerprint or PIN authentication.
• Early Warning Services (Zelle)coreTechnology or IntegrationZelle P2P payment service integrated into Bath Savings online and mobile banking BillPay, enabling fast money transfers between bank accounts typically within minutes.
• FAME (Finance Authority of Maine)coreStrategic or Co-development PartnerPartnership with FAME for private student loans and student loan consolidation programs. Maine residents and those who attended Maine schools are eligible for competitive education financing.
• MastercardcoreTechnology or IntegrationMastercard provides the payment network for Bath Savings debit and credit cards, including Zero Liability Protection for fraud protection on all transactions.
• Genesis Community Loan FundminorOthersNonprofit community loan fund where Julie Wagoner, Senior Vice President Community Development/CRA, serves on the board. Part of Bath Savings commitment to community reinvestment.
• United Way of Midcoast MaineminorOthersJulie Wagoner serves on the Eligibility Committee of United Way of Midcoast Maine. Bath Savings supports United Way through volunteerism, donations, and community programs.
• Maine Association of Realtors FoundationminorOthersJulie Wagoner serves on the board of Maine Association of Realtors Foundation. Partnership supports housing affordability and real estate education in Maine.
• FDIC Money SmartminorOthersBath Savings is an Alliance Partner in the FDIC Money Smart financial education curriculum, using these resources to counsel customers and teach financial literacy in schools.
• American Bankers Association (Teach Children to Save)minorOthersBath Savings participates in ABA's Teach Children to Save program, with volunteers visiting school classrooms to teach savings habits to young people.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Gorham Savings Bank: Southern Maine community bank offering retail and commercial banking to overlapping coastal/Cumberland County markets served by Bath Savings.
• Kennebunk Savings: A Maine mutual savings bank offering personal, business, and wealth services along the coast — nearly identical charter type, geography, and community-bank model to Bath Savings.
• Norway Savings Bank: Maine mutual savings bank with retail, commercial, and trust/investment services — closely mirrors Bath Savings' product mix and mutual ownership.
• Bangor Savings Bank: A large Maine-based mutual savings bank with statewide retail, commercial, and wealth operations; same mutual structure and market, larger scale.
• Saco & Biddeford Savings Institution: Southern Maine mutual savings institution offering comparable retail, commercial, and investment services in adjacent coastal markets.

Regional players

• Androscoggin Bank: Maine mutual bank with retail, commercial, and wealth offerings; same state and structure, centered on a different Maine region.
• Skowhegan Savings Bank: Maine mutual savings bank providing full-service retail and commercial banking, comparable in charter and community-focused model.
• Camden National Bank: Maine coastal/midcoast community bank with wealth management (Camden National Wealth); overlapping geography and products, but publicly traded rather than mutual.
• Machias Savings Bank: Maine mutual savings bank serving personal and business customers; same charter type and state market, different primary region.
• The First Bancorp (First National Bank): Damariscotta, Maine midcoast bank with a wealth division (First National Wealth Management), directly overlapping Bath Savings' Lincoln County footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/BathSavings
• Instagraminstagram.com/bathsavings
• Xx.com/BathSavings

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries1 record

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 Bath Savings