Having provided New Hampshire and Vermont customers with financing for a few of their Maine projects, Mascoma Bank started to look at what else we might do to serve the Maine business community.

We quickly found a niche in new market tax credit and historic tax credit financing. New market tax credit and historic tax credit financing was the way renovation of the former Portland Press Herald building (into the Press Hotel) could proceed. In 2017, Mascoma Bank’s wholly owned subsidiary, Mascoma Community Development, provided developer Jim Brady with the necessary financing to make this historic renovation possible.

When we opened our Portland, Maine, commercial loan production office in 2018, Mascoma Bank was the first B Corp Certified financial institution here. We dedicated ourselves to helping build and expand Maine’s B Corp community. Over the course of the past five years, the number of B Corps in Maine doubled.

Since 2018, we’ve had great success adding to Mascoma Bank’s Maine team. We’ve a diverse group of banking professionals who are bringing knowledge of new market, historic and low-income tax credit financing to the state, as well as valuable treasury management, wealth management, and commercial lending expertise. Our team has well over a century of banking experience, the vast majority of that as part of the Maine business community.