Katahdin Trust to reduce branch footprint

HOULTON, Maine, Oct. 28, 2016 /PRNewswire/ -- Katahdin Trust Company has announced that on January 31, 2017 they will close branch offices located in Easton, Limestone and Washburn and modify days of operation in Island Falls and Oakfield.

"We understand the impact this will have on our employees and customers. It was a very difficult decision and one we did not take lightly," said Jon J. Prescott, President & CEO of Katahdin Trust. "The way customers do their banking has changed as more turn to the use of online and mobile banking tools for their daily banking needs. Although the Bank remains financially strong, we are seeing a decrease in the traditional face-to-face transactions inside the branch."

Employees will be able to apply for open positions within the Bank. Customers will not experience any changes to their accounts and can visit any Katahdin Trust branch for in-person transactions.

Prescott added, "We are confident that with our neighboring Katahdin Trust branches in the area, along with our many alternative banking services, we will continue to be able to serve our customers well."

About Katahdin Trust
Katahdin Trust Company, established in 1918 with over $744 million in assets, provides banking services to individuals and businesses throughout Maine and online at KatahdinTrust.com. Katahdin Bankshares Corp., parent company of Katahdin Trust Company, stock is quoted on the OTC Markets quote board OTCQX under the symbol KTHN. Current stock information can be found at otcmarkets.com/stock/KTHN/quote.

No further information is available at this time.

SOURCE Katahdin Trust Company