Trust Officer

Established in 1866, Norway Savings Bank (“NSB,” norwaysavings.bank) is a 158-year-old, $1.7B state chartered mutual bank. The bank has 300 full-time employees and at its asset size is the 7th largest bank headquartered in the state of Maine. NSB offers a breadth of both loan and deposit solutions for consumer and business banking customers as well as investment and trust services through its Asset Management Group and operates 24 branch locations in western and southern Maine. While the bank’s growth has been primarily organic, NSB also acquired Portland-based Coastal Bank in 2001. NSB is in strong financial condition, notably with over 13% Tier 1 capital, and has an approximately $1.1B loan portfolio, with over $1B secured by real estate. As a mutual bank, the bank is owned and governed by its depositors (there are no shareholders), allowing the bank to take a long-term view of success based on customers, community, employees, and strength of balance sheet. With a full suite of mobile and online banking solutions, the bank is the epitome of a modern community bank, balancing local interests and decision making while allowing customers to bank where they want, and when they want. A fantastic corporate citizen, NSB awarded over $1.05MM to 355 Maine nonprofits in 2023 and its employees volunteered over 4,000 hours.

Established 20 years ago, the bank’s Asset Management Group provides trust and investment management services to individuals and families. The 9-person team collectively manages approximately $450MM in assets under management (AUM). This growing business has become vital to the bank’s future plans and works collaboratively with internal partners in commercial lending and retail to provide a holistic solution to the financial needs of their customers, as well as with an established network of referral sources. The Trust Officer will inherit a meaningful book of business and join a team-oriented and dedicated group of trust and investment professionals.

For additional information, please contact a member of the S&W search team: William Wegener, Senior Associate (wwegener@smithandwilkinson.com) or Cameron Boyd, Managing Partner (cboyd@smithandwilkinson.com).

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