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Bangor Savings Bank
Bangor Savings Bank is a state-chartered bank in Maine, United States. The company, which is headquartered in downtown Bangor was founded in 1852 and has 54 branches across the state. As of December 2020, the bank was the largest Maine-based bank. Bangor Savings Bank has roughly $7.4 billion in assets. History On May 5, 1852, Bangor Savings Bank opened first location in Bangor, Maine. The first deposit was for $440. During that decade, Franklin Muzzy was one of the first trustees Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to ... of the bank. By 1889, Bangor Savings Bank had relocated to a larger space at 3 State Street and had over $4.5 million in deposits. The facility was rebuilt in 1913 following the Bangor Great Fire, and renovated in 1951. In 1997, the Bangor Savings Bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bank
A state bank is generally a financial institution that is chartered by a federated state, as opposed to one regulated at the federal or national level. State banks differ from a reserve bank in that it does not necessarily control monetary policy (the state in question may have no legal capacity to create monetary policy), but instead usually offers only retail and commercial services. United States In the United States, the terms "state-chartered bank" or "state-chartered savings bank" are used in contradistinction to "national bank" or " federal savings bank", which are technically chartered across all US states. A national bank must have "National" or "N.A." in its corporate name, a Federal Savings Bank must have "Federal" or "F.S.B." in its name, while a state chartered bank cannot have "National" or "Federal" in its name. All national banks and savings institutions are chartered and regulated by the Office of the Comptroller of the Currency. State banks are chartered and r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1852
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include '' Fortune'' and ''Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangor Daily News
The ''Bangor Daily News'' is an American newspaper covering a large portion of central and eastern Maine, published six days per week in Bangor, Maine. The ''Bangor Daily News'' was founded on June 18, 1889; it merged with the ''Bangor Whig and Courier'' in 1900. Also known as ''the News'' or ''the BDN'', the paper is published by Bangor Publishing Company, a local family-owned company. It has been owned by the Towle-Warren family for four generations; current publisher Richard J. Warren is the great-grandson of J. Norman Towle, who bought the paper in 1895. Since 2018, it has been the only independently owned daily newspaper in the state. History The ''Bangor Daily News''s first issue was June 18, 1889; the main stockholder in the publishing company was Bangor shipping and logging businessman Thomas J. Stewart. Upon Stewart's death in 1890, his sons took control of the paper, which was originally a tabloid with "some news, but also plenty of gossip, lurid stories and scandals ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustees
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary. A trustee can also be a person who is allowed to do certain tasks but not able to gain income, although that is untrue.''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, . Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non-charitab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franklin Muzzy
Franklin "Frank" Muzzy (December 6, 1806 – October 28, 1873) was an American politician and businessman from Maine. Career Born in Spencer, Massachusetts, Muzzy moved to Gardiner, Maine, in 1823. Sometime before 1832, he enrolled at the Gardiner Lyceum to study drafting. Muzzy began working as a machinist and iron founder there, and later founded his own business, the Muzzy and Wing Iron Foundry, in Bangor, which by 1860, had more than thirty-five employees. Muzzy also pursued a career in politics as a member of the Whig Party, a forerunner to the Maine Republican Party. He served in the Maine House of Representatives from 1841 to 1842, and then the Maine Senate from 1853 to 1855. In the final term, Muzzy was elected President of the Maine Senate, preceded by Luther Moore and succeeded by Lot M. Morrill. During the 1850s, Muzzy was also one of the first trustees of the Bangor Savings Bank. Legacy Muzzy died in 1873 and was buried at Mount Hope Cemetery. After his death, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium), and a few gemstone-encrusted metal cards. A regular credit card is different from a charge card, which requires the balance to be repaid in full each month or at the end of each statement cycle. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangor, Maine
Bangor ( ) is a city in the U.S. state of Maine and the county seat of Penobscot County. The city proper has a population of 31,753, making it the state's 3rd-largest settlement, behind Portland (68,408) and Lewiston (37,121). Modern Bangor was established in the mid-19th century with the lumber and shipbuilding industries. Lying on the Penobscot River, logs could be floated downstream from the Maine North Woods and processed at the city's water-powered sawmills, then shipped from Bangor's port to the Atlantic Ocean downstream, and from there to any port in the world. Evidence of this is still visible in the lumber barons' elaborate Greek Revival and Victorian mansions and the 31-foot-high (9.4 m) statue of Paul Bunyan. Today, Bangor's economy is based on services and retail, healthcare, and education. Bangor has a port of entry at Bangor International Airport, also home to the Bangor Air National Guard Base. Historically Bangor was an important stopover on the Great ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgages
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
