Machias Savings Bank Company Research Report

Company Overview

• Name: Machias Savings Bank

• Mission of the Company: Helping families, neighbors, and friends find their "YES!", supporting local communities in Maine through a focus on individual and collective success.

• Founded: No information is available.

• Founders: No information is available.

• Key People in the Company:

• Larry Barker - President & Chief Executive Officer

• Chris Lyford - EVP, Chief Banking Officer

• Ben Jordan - EVP, Chief Operating Officer

• Matt Walsh - EVP, Chief Financial Officer

• Peter Greene - EVP, Operations

• Danielle Daley - EVP, Chief Human Resource Officer

• Nate Martell - EVP, Chief Risk Officer & General Counsel

• Jay Hood - EVP, Chief Lending Officer

• Charlene Cates - EVP, Chief Strategy Officer

• Headquarters: Machias, Maine, United States

• Number of Employees: No information is available.

• Revenue of the Company: No information is available.

• What is the Company Known For: Machias Savings Bank is known for its comprehensive banking services focused on personal, small business, and commercial sectors with a strong emphasis on community support and customer satisfaction.

Products

Personal Banking

• My MSB Checking: A checking account service.

• My MSB Savings: A savings account option.

• My MSB Health Savings: A health savings account.

• My MSB Kids Club: A savings account tailored for children.

• My MSB Money Fund: A money market account.

• My MSB Certificate of Deposit: Fixed-term savings products offering higher interest rates.

• IRAs (Roth and Traditional): Retirement savings accounts with tax advantages.

• Simplified Employee Pension Plan (SEP): A retirement savings solution for business owners.

Online & Mobile Banking

• MSB Online: A platform for managing accounts digitally.

• Zelle®: Convenient, fast, and safe payment transfers.

• ClickSWITCH®: Facilitates quick switching of payments to accounts with MSB.

• Machias Mobile App: Offers banking on the go, enabling users to manage accounts via smartphones.

Borrowing Products

• Mortgages: Includes fixed-rate, Maine State Housing, construction, mobile home and land, seasonal mortgage, and land-only options.

• Home Equity Line of Credit (HELOC): Secured loans using home equity for flexible borrowing.

• Home Equity Loan: Fixed loan amount using equity as collateral.

• Personal Loans and Credit Cards: Tailored to meet personal financial needs.

Small Business Banking

• Business Checking and Savings: Essential Business Fund, Exceptional Business Checking, and Exceptional Business Savings options.

• Loans and Lines of Credit: Tailored to facilitate business growth.

Commercial Banking

• Commercial Checking and Savings: Exceptional Business Checking and Essential Business Fund Account products.

• Financing Solutions: Comprehensive options for commercial financing needs.

Key Features of Products

• Simplicity and Convenience: User-friendly digital platforms and mobile apps to simplify banking.

• Security: Enhanced security features to protect customer information including Voice ID and fraud alerts.

• Diverse Options: Variety of savings, checking, and financing products catering to different customer needs.

Recent Developments

• Recent Developments in the Company: No specific information is available.

• New Products Launched: No information is available.

• New Features Added to Existing Products: No information is available.

• Any New Partnerships: No information is available.

Conclusion

Machias Savings Bank is a trusted financial institution headquartered in Maine, focusing on personal, small business, and commercial banking services. With a comprehensive product range, the bank emphasizes customer satisfaction, convenience, and security. However, specific financial data, recent product launches, and new partnerships remain undisclosed.