Camden National Corporation Announces Board Changes
September 19, 2017 at 08:34 am EDT
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On September 15, 2017, the Board of Directors of Camden National Corporation elected Lawrence Larry" J. Sterrs to succeed Karen Stanley as Chair of the company and Camden National Bank effective September 17, 2017. Stanley, who joined the Board of Directors in 2008 and became Chair in 2010, retired from the Board on September 17, 2017. John Holmes, who has served on the Board since 1988, retired on September 15, 2017, after 29 devoted years. For the past seven years, Camden National Corporation has flourished under Stanley's leadership as Chair. Highlights of her tenure include Camden National Bank's acquisition of 14 banking centers from Bank of America in 2012, acquisition of The Bank of Maine in 2015, and consolidation and rebranding of Acadia Trust to Camden National Wealth Management in 2016. Sterrs has served on the Camden National Corporation Board of Directors since January 2015, and he was named Vice Chair effective January 2017. He is a member of the Compensation and Technology Committees, and became Chair of the Governance and Risk Committee when he succeeded Stanley as Board Chair. He brings over 40 years of professional experience in the telecommunications industry. He is Board Chairman of UniTek Inc. and UniTel Inc., and he was formerly CEO of each company. Since 2001, Sterrs has served as Chairman and CEO of the Unity Foundation.
Camden National Corporation is a bank holding company for Camden National Bank (the Bank). The Bank provides a broad array of banking and other financial services to consumer, institutional, municipal, non-profit, and commercial customers. The Bank optimizes its in-person professional financial guidance with technology, delivered through sophisticated digital channels. These digital products empower customers to bank anywhere at any time, including, but not limited to, online and mobile banking, which includes MortgageTouch, its easy-to-use online platform for consumer borrowers; BusinessTouch, its online loan application system with instant approval, making borrowing faster and easier for small businesses, and TreasuryLink, its secure online platform designed to offer advanced cash management, monitoring capabilities and controls for commercial customers. The Bank offers comprehensive wealth management and trust services, including investment advisory services.