Damariscotta Bank & Trust holds annual meeting

May 17, 2017

Damariscotta — Damariscotta Bankshares Inc., parent company of Damariscotta Bank & Trust Co., held its annual meeting April 26, 2017, at the 619 Main St. Branch in Damariscotta. The meeting was conducted under the direction of Chester A. Rice, the presiding chairman of the board. Among business conducted at the meeting, Rice, John E. Reny, Dale E. Leighton and John C. Harris were re-elected to another term as directors of the company. Continuing their terms as directors are Clayton N. Howard, Allen D. Holmes, and Gary Sukeforth. At the director meeting held subsequent to the stockholder meeting, the board re-elected John R. Hilton, Louis L. Doe, William H. Dunlavey and Samuel E. Roberts to additional terms as honorary directors.

During the meeting, President & CEO Scott Conant made a presentation on the bank’s 2016 annual results, as well as the first-quarter results of 2017. The company reported an increase in total outstanding loans and deposits, as well as an increase in net income for 2016. Conant pointed out that the 2016 results represent the company’s sixth straight year of earnings improvement.

Conant also described the recent change of the Bank’s new logo. Plans are under way for all six branches to have new and updated signage by the end of summer.

Damariscotta Bank & Trust has six locations in the Midcoast, located in Damariscotta, New Harbor, Warren, Union and Belfast.

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