Six commercial banks, two savings banks, and nine credit unions will continue to operate in the Bangor RGM after consummation of the proposed transaction. Two commercial banks, two savings banks, and one credit union will continue to operate in the Belfast RGM after this transaction. In addition, one commercial bank and one federal savings bank are in the process of establishing branches in the Belfast RGM . Given the number and capacity of these institutions, it is believed competition will not be significantly reduced within the RGM . After giving consideration to the aforementioned factors, the Board of Directors is of the opinion that the proposed transaction will not substantially lessen competition, tend to create a monopoly, or in any other manner restrain trade or otherwise have an adverse competitive impact that would require disapproval under the Bank Merger Act.
Future prospects are favorable.
The scope and convenience of banking services offered to the general public should not be significantly affected by the proposal. Six financially sound commercial banks, two savings banks, and nine credit unions will continue to operate in the Bangor RGM after consummation of the proposed transaction. Two financially sound commercial banks, two savings banks, and one credit union will continue to operate in the Belfast RGM after this transaction. BSB intends to continue to provide a broad range of services to the consumer and commercial customers now served by Fleet. There have been no protests to the proposed transaction from either the public or the banking community.