Blog : Kennebunk Savings Continues New Hampshire Growth, with new Dover Office

By Jim Cavan | Jan 18, 2013 | in

With the opening of a brand new branch on Central Avenue just north of downtown Dover, Kennebunk Savings Bank is looking to build on its recession-defying success while tapping into one of the New Hampshire Seacoast’s fastest-growing communities.

The new branch was officially opened on December 14th with a ribbon-cutting ceremony overseen by company President and CEO, Bradford C. Paige, company executives, representatives from the Dover Chamber of Commerce, as well as representatives from two local nonprofit organizations.

Needless to say, Paige is more than excited about Kennebunk Savings Dover prospects.

“We look at it as a natural extension of our existing market footprint,” said Paige. “We opened our Portsmouth office almost two years ago, and we’ve been really encouraged by the response we’ve had from our existing and new customers.”

Paige specifically cited the region’s growing economy, low unemployment rate (when compared to the national average), thriving real estate market, and ideal mix of potential commercial and consumer customers as impetuses for Kennebunk Savings’ latest Granite State gambit.

“We spent quite a bit of time making sure that our next location would be beneficial for all involved,” said Paige. “And we were lucky to find a place that really hit on all of those things.”

Vice President Brendan Markey, the Dover Branch Manager, says that the community reception has been “quite outstanding and very warm,” and he believes Kennebunk Savings can foster in Dover a mutually beneficial partnership harkening to the town’s tight-knit roots.

“I’ve been part of the community here for a few years now, and I have to say the reception has been overwhelmingly positive, and people seem genuinely thrilled,” noted Markey. “I think it will be a great fit for both the community and the bank.”

Located at 701Central Avenue just north of downtown Dover, the building – occupied for years by a Rite Aid pharmacy – underwent extensive renovations and aesthetic overhauls, efforts Markey says have only strengthened the community’s already positive response.

“I think a lot of people remember the building being somewhat of an eyesore,” he said. “But people have loved the transformation from what it was to what it is, because it really does look fantastic.”

Though the company’s New Hampshire expansion is another new step, Paige says the bank’s emphasis on outreach and charity will remain a familiar staple of the company’s community efforts to integrate into the community.

“We say it’s a commitment to community, and it is. For us, though, it’s a heartfelt commitment,” explains Paige. “It’s not just about writing a check, it’s about getting involved. Our employees, volunteer with our full encouragement and support so we get to know the community at all levels.”

Kennebunk Savings has long been renowned for their charitable initiatives, amassing over 8,000 hours in combined community service work hours, ranging from trail maintenance to fundraisers to United Way Days of Caring.

Their “Community Promise” – intact since 1994 stipulates that 10% of annual profits be given to local nonprofit organizations and charities – has resulted in over $8 million in donations during that period.

In 2011, Kennebunk Savings Bank was named by the Finance Authority of Maine (FAME) as the Financial Institution of the Year, an award given to banks that work closely with FAME to provide reliable financing.

Founded in 1871, Kennebunk is one of the region’s longest standing banks, with over $830 million in assets and fifteen branches in York County, Maine and Seacoast NH.