Maine Community Bank Increases Its LaunchPad Grant Prize to $75,000, Expands Support for Innovative Emerging Businesses

PORTLAND, Maine—May 21, 2026—Maine Community Bank is raising its LaunchPad small business competition grant from $50,000 to $75,000 and its Emerging Business Award grant from $10,000 to $15,000, expanding the Bank’s investment in entrepreneurs building their businesses in Maine.

Now in its 13^th year, LaunchPad began with a simple mission: give early-stage businesses a real chance to move their business forward through a no-strings-attached capital investment. Over time, it has grown into an important fixture of Maine’s startup ecosystem with nearly $700,000 in grants awarded by the Bank to Maine’s most innovative small businesses.

As the program has grown, so have the ambitions of the founders stepping onto the LaunchPad stage.

“The applicants we’re seeing today have different funding needs than even a few years ago,” said Steve deCastro, CEO, Maine Community Bank. “Founders are building really innovative and scalable companies here. Our grant increase reflects that and better supports them with more nondilutive capital to reach the next level.”

The grant increase is meant to meet founders and companies where they are. For some, that means turning early momentum into something sustainable. For others, it means having the resources to take a first real step.

“Early capital can change the pace of a business,” said deCastro. “At the right moment, it gives an entrepreneur the ability to commit, to hire, or to push a business further than they could on their own.”

For the past winners—Pika Energy, Bixby Chocolate, Flowfold, Good To-Go, North Spore, Casco Bay Creamery, HighByte, Tanbark, Bookclubs, Alivo, and PFAS Laboratories—Maine Community Bank’s LaunchPad has been pivotal part of their startup journey by helping open doors to new customers, new hires, new expansions, and a reason to stay and scale in Maine.

Applications for the Bank’s 2026 LaunchPad competition will open on July 13 at maine.bank/launchpad, with the live event taking place on October 20 at University of New England in Portland.

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About Maine Community Bank

Headquartered in Portland, Maine Community Bank is the largest mutual savings bank operating exclusively in the state, with nearly $3 billion in assets and 21 branches across Androscoggin, Cumberland, and York counties. With a rich 150+ year heritage, the bank remains proudly ‘All in on Maine’ and committed to helping Maine families, businesses, and communities thrive.

As the only bank headquartered in Cumberland County, Maine Community Bank is a depositor-owned institution committed to local decision-making and offering a comprehensive suite of both personal and business financial services, as well as wealth management.

Committed to the well-being of its communities, Maine Community Bank annually contributes thousands of volunteer hours and financial resources to community-based initiatives. By investing in local partnerships that promote financial literacy, stimulate economic growth, and foster entrepreneurship, the bank strengthens the fabric of the communities it serves. Learn more at maine.bank.

Maine Community Bank Expands Wealth Management Team with Matthew Cyr and Lisa Dube

PORTLAND, Maine—May 13, 2026—Maine Community Bank continues to build its wealth management capacity with the addition of two experienced professionals who share a belief that financial guidance starts with relationships.

Matthew Cyr has joined the bank as Senior Vice President, Director of Wealth Management. He brings decades of experience in financial services and a track record of growing a wealth management program into a trusted resource for clients and their families. His work has centered on helping people make informed decisions with an approach rooted in disciplined investment guidance over time and nurturing long-term relationships. In this role, he will guide the continued growth of the bank’s wealth management program and shape an approach that connects financial planning with everyday banking relationships.

“I have spent my career in community banking because I believe relationships still matter,” said Cyr. “At the end of the day, this business is about trust, guidance, and being there for people through all stages of life. What drew me to Maine Community Bank is the opportunity to build something meaningful. Wealth management should feel accessible, thoughtful, and connected to the everyday banking experience. There is a real opportunity here to bring together strong local relationships, practical financial guidance, and a long-term view that helps clients move forward with confidence in every chapter. I am excited to get started, work alongside a talented team, and strengthen the program in a way that reflects both the values of the bank and the needs of the communities we serve.”

Cyr is known for developing client relationships that last across generations. Prior to joining Maine Community Bank, he led Saco & Biddeford Savings’ Financial Services program, where he built teams with a focus on accountability and sound advice. With deep roots in Southern Maine, Cyr brings a clear understanding of the people and communities the bank serves.

Joining Cyr is Lisa Dube, Senior Financial Services Assistant, who will be based in the bank’s Biddeford location. She brings more than 25 years of experience in financial services and a reputation for steady, thoughtful client support. Dube will assist Cyr along with the program’s two established financial advisors.

“Bringing Matt and Lisa aboard is an important step in how we continue to evolve,” said Steve deCastro, CEO of Maine Community Bank. “They share our belief that financial guidance should feel personal and rooted in trusted local relationships. Their experience, along with the way they connect with clients, will help us continue developing our wealth management offering to reinforce our commitment to Maine families, businesses, and communities.”

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About Maine Community Bank

Headquartered in Portland, Maine Community Bank is the largest mutual savings bank operating exclusively in the state, with nearly $3 billion in assets and 21 branches across Androscoggin, Cumberland, and York counties. With a rich 150+ year heritage, the bank remains proudly ‘All in on Maine’ and committed to helping Maine families, businesses, and communities thrive.

Maine Community Bank Maine Marathon Names 2026 Beneficiaries, Directing $65,700 to Four Maine Nonprofits

PORTLAND, Maine (March 25, 2026) —The Maine Community Bank Maine Marathon is proud to announce its 2026 beneficiaries: Camp No Limits, Day One, Nanna’s House, and Pine Tree Society. Together, these four Maine-based nonprofits will receive $65,700 from the proceeds of the annual, nonprofit, volunteer-run race, which will take place on Sunday, October 4, 2026, in Portland.

Organized each year by the Maine Track Club, the Marathon, Half Marathon, and Relay continues its tradition of supporting local organizations that make a meaningful difference for Maine children, families, and communities. This year’s beneficiaries were selected for their dedication to providing essential services, compassionate support, and life-changing opportunities across the state.

Camp No Limits – Wales ($20,000) – Camp No Limits serves children and young adults with limb loss and limb differences. The Camp provides education, mentorship, and adaptive recreational experiences that build confidence, connection, and independence.

Day One – Windham ($20,000) – Day One supports Maine youth and families through substance use prevention, treatment, and mental health services, helping young people navigate some of life’s most difficult challenges with care and stability.

Nanna’s House – Standish ($5,700) – Nanna’s House supports children entering the foster care system by providing age-appropriate supply kits that help meet immediate needs and bring a small measure of comfort during moments of transition.

Pine Tree Society – Scarborough ($20,000) – Celebrating 90 years of service, Pine Tree Society creates opportunities for Maine children and adults with disabilities to live full, engaged lives through programs that promote independence, communication, and inclusion.

“This race is an amazing expression of community,” said Steve deCastro, CEO, Maine Community Bank, the title sponsor of the Maine Marathon since 2010. “Each beneficiary is doing deeply important work helping Maine children and families, and we are proud to support their efforts through such an uplifting and meaningful event.”

Since 1979, the Marathon has raised nearly $9 million for charity. Each year, volunteer organizers select a group of nonprofits from the community to receive proceeds from the race, continuing a longstanding tradition of giving back through one of Maine’s signature road races.

“The organizations chosen as our 2026 beneficiaries represent the kind of compassionate, high-impact work that has always been at the heart of the Marathon,” said Bob Dunfey, volunteer race director of the Maine Community Bank Maine Marathon. “We’re excited to partner with them in the year ahead and help expand their impact through the race and the additional fundraising opportunities it provides.”

In addition to direct funding, the Marathon offers participating nonprofits the opportunity to raise additional support through the event’s broader fundraising efforts. Beneficiaries also play an important role on race weekend by providing volunteers to assist with operations throughout the course, helping make the event a success for runners, spectators, and the community alike.

The 2026 race will once again feature its scenic Portland course, with the marathon, half marathon, and relay starting and finishing near Back Cove. A USATF-certified course and Boston Marathon qualifier, the event draws runners from Maine and beyond while keeping its focus firmly on local impact.

For more information about the Maine Community Bank Maine Marathon, to register, or to learn more about the 2026 beneficiaries, visit MaineMarathon.com.

About the Maine Marathon
The Maine Marathon, Half Marathon, and Relay is a volunteer-run nonprofit event organized by the Maine Track Club. Held annually in Portland, Maine, the race is a Boston Marathon qualifier and directs net proceeds to Maine-based charitable organizations.

About the Maine Track Club
The Maine Track Club, the state’s largest running club, has organized the Maine Marathon since 1997. As a nonprofit, volunteer-run organization, the club is committed to promoting running and raising funds for local charities.

About Maine Community Bank
Headquartered in Portland, Maine Community Bank is the largest mutual savings bank operating exclusively in the state, with nearly $3 billion in assets and 21 branches across Androscoggin, Cumberland, and York counties. Formed from the merger of Gorham Savings Bank and Maine Community Bank—two of Maine’s longest-standing community banks with rich 150+ year heritages—the bank combines the strengths of both institutions to create an even stronger, more capable, and more convenient institution for Maine families, businesses, and communities.

This article originally appeared in Mainebiz.

By Kim Donnelly, Chief Client Development Officer, Maine Community Bank

Owning a business is never about just earning a living. For many families, the business becomes a source of identity, pride, and long-term security. After decades of working with Maine entrepreneurs, I have seen how much of themselves owners pour into their companies, and how often the planning that helps a business endure gets pushed aside in the rush of daily work.

A lasting business legacy takes foresight. Think of legacy as maximizing the value of the business and keeping your future options open. It comes from the decisions you make now, the structure you build, and the clarity you bring to what you want the next chapter to look like. Whether you hope to pass the company to family, transition it to employees, prepare it for sale, or use it to support future generations, early planning makes an enormous difference.

Here is a practical roadmap for business owners.

Start with a Clear Vision for the Business

Every owner has a personal definition of success. Some picture their children running the business. Others imagine an employee-led future such as an ESOP. Others want to position the company for a sale or simply keep it healthy so it can support the next generation.

Being clear about your long-term goal guides everything from reinvestment decisions to hiring to leadership development. Most owners have a large share of their personal wealth tied to their company. Think of the business as your key financial asset. Strengthen it, protect it, and design it so it can function without depending entirely on you.

Document Core Processes: Write things down. Document core processes, financial practices, customer relationships, and operational knowledge. A well-documented business is easier to run, easier to value, and far easier to hand off when the time comes.
Build A Team of Trusted Advisors: From a CPA to an estate attorney to investment advisors, it’s critical to surround yourself with experts you trust to make navigating this process at every stage a lot easier.

Sustain the Business with Structure and Early Succession Thinking

Start succession planning early, even if stepping back feels far away. Whether your successor will be a family member, a key employee, or an outside buyer, preparation gives you options and adds value. Ideally, begin this process 5 to 10 years before your target date to step back.

Build simple governance:

Hold ownership or advisory meetings on a regular schedule, even if the group is small.
Clarify roles and how decisions get made.
Introduce the next generation, whether family or employees, to the financial and operational side of the business.

Review your plan every year. Markets move, families change, and laws evolve. A brief annual update keeps your plans current and avoids being caught off guard.

Protect Everything You Have Built

The overlap between family and business creates risks that deserve early attention. Common issues include:

Taxes that force unwanted sales or transfers
Creditor claims or legal exposure that puts assets at risk
Family disagreements that disrupt both relationships and operations

A few steady steps create strong protection:

Maintain liquidity outside the business, whether in cash, investments, or well-structured insurance. This allows you to cover taxes, buyouts, or emergencies without selling the company under pressure.
Use trusts, buy-sell agreements, and thoughtful entity structuring to guide future transfers and shield assets.
Consider including philanthropy in your long-term plan. A donor-advised fund or small family foundation can reinforce shared values and create a sense of continuity across generations.

Closing Thought

A business that continues beyond the founder does not happen on its own. It takes the same discipline and focus that helped you build it in the first place, along with a willingness to plan ahead. Starting now makes the future smoother for your family, your employees, and the community that has supported the business.

Set the conversations in motion. Organize the systems. Put the right protections in place. With steady, thoughtful planning, your business can keep creating opportunity long after you step back from day-to-day leadership.

You built something meaningful. With some planning and clarity, you can help it last.

Learn more at maine.bank/wealth.

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About the author

As Chief Client Development Officer at Maine Community Bank, Kim Donnelly provides strategic direction for cash management services, residential and consumer lending, as well as the Bank’s wealth management division. She also oversees the bank’s partnership with Bigelow Investment Advisors.

Maine Community Bank has announced the finalists for its annual LaunchPad small business competition, where one company will earn a $50,000 grant to scale its innovative venture.

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The Newly Combined Maine Community Bank is ‘All in on Maine’ to Enhance Financial Services and Community Support Across Southern and Central Maine

PORTLAND, Maine – January 2, 2025 – Gorham Savings Bank and Maine Community Bank are pleased to announce the completion of their merger of equals, forming the largest mutual savings bank operating exclusively in Maine. This significant milestone creates a new major player in community banking, with nearly $3 billion in assets and 21 branches throughout Androscoggin, Cumberland, and York counties. The combined entity will offer businesses and consumers enhanced financial capabilities and an even greater commitment to serving the communities of southern and central Maine.

The merger closed on January 1, 2025. The combined institution will operate under the name Maine Community Bank, uniting the strengths and traditions of both legacy banks.

Customers of both Gorham Savings Bank and Maine Community Bank can expect their accounts, services, and banking relationships to remain uninterrupted and secure. All branches will continue to operate as usual with the same familiar staff. Customers will retain access to their existing online banking platforms and mobile apps, with no changes to account numbers, routing numbers, or debit and credit cards at this time.

Gorham Savings Bank will undergo a rebranding process to transition building signage, online banking, and mobile apps to the Maine Community Bank name and logo over the next several weeks. The newly combined Maine Community Bank website can be accessed at a new URL: maine.bank.

Following systems integration in late 2025, Maine Community Bank will offer customers greater convenience and accessibility through the largest branch network spanning Androscoggin, York, and Cumberland counties, along with a wider array of financial services, combining the strengths of both legacy banks. Customers will benefit from:

Enhanced Products and Services: Including wealth management and expanded cash management services.
Increased Lending Capacity: Allowing for more substantial support of personal and business financial needs.
Investments in Improved Technology: Providing a more efficient and user-friendly banking experience.

Maine Community Bank is all in on Maine and will reaffirm its deep commitment to southern and central Maine, continuing to invest in local initiatives and partnerships that foster financial literacy, economic growth, and support entrepreneurship. The merger strengthens the bank’s capacity to support community development projects and nonprofits, enhancing its role as a vital community partner.

Steve deCastro, President and CEO of Gorham Savings Bank, becomes the new CEO of Maine Community Bank, leading the unified organization with the support of a skilled board of directors and an experienced executive team drawn from both banks. Jeanne Hulit, the former President and CEO of Maine Community Bank, will serve as President of the combined institution through 2025 and oversee the integration.

“Our merger of Gorham Savings Bank and Maine Community Bank marks a significant milestone in banking in this region, as we become the largest mutual savings bank serving Maine exclusively,” said Steve deCastro. “I’m very proud of our teams, who have integrated seamlessly over the past year, and while there’s still work to be done, our focus remains on ensuring a smooth transition for all customers. This merger represents a true partnership of equals, driven by shared goals, common interests, and a deep dedication to building a better bank for our customers and Maine communities.”

“I am so very pleased with the entire newly combined Maine Community Bank team and how they have come together in the past year,” added Jeanne Hulit. “I’m also thrilled that our combined bank will be led by CEO Steve deCastro and board chair Jeff Worthing. They each possess considerable skills and abilities that will ensure Maine Community Bank continues to lead the way throughout the communities we serve.”

Work to integrate the core operating systems of the two banks into a single platform is already underway. Customers will receive advance notice of any changes and personal support to ensure a smooth transition, with core integration expected in late 2025.

*Maine Community Bank CEO, Steve deCastro, with President Jeanne Hulit, at the bank’s India Street headquarters in Portland*

About the newly combined Maine Community Bank

Headquartered in Portland, Maine Community Bank is the largest mutual savings bank operating exclusively in the state, with nearly $3 billion in assets and 21 branches across Androscoggin, Cumberland, and York counties. Formed from the merger of Gorham Savings Bank and Maine Community Bank—two of Maine’s longest-standing community banks with rich 150+ year heritages—the bank combines the strengths of both institutions to create an even stronger, more capable, and more convenient institution for Maine families, businesses, and communities.

Maine Community Bank is a member FDIC. To learn more, visit maine.bank.