ELLSWORTH — First National Bank officially opened its location on the Beechland Road on May 20, moving from its High Street location after more than 40 years.
The two-story branch stands on the site of the former Weymouth Chiropractic building, which the bank bought earlier this year and razed.
The Beechland Road location will be a full-service branch, said First National President and CEO Tony McKim. The company also will be moving the offices of its First Advisors team from Surry Road to Beechland Road. The company had been in its High Street location since the 1970s, McKim said.
The Beechland Road area has seen a flurry of activity over the past few years, with the construction of a new child care facility (funded by The Jackson Laboratory under the direction of the Down East Family YMCA), the opening of a new natural food store (Acadia Provisions) and the multiphase Jackson Laboratory project nearby. Local developer Jonathan Bates also is in the process of seeking approval to build several apartment buildings across from First National Bank with a total of 45 new units.
First National Bank has been in operation since 1852, when it was established by prominent business owners in Damariscotta and Newcastle as The People’s Bank. It was chartered as The First National Bank of Damariscotta in 1864. In 1888, The First National Bank of Bar Harbor was organized, and more than a century later, in 2005, the two combined into one financial institution with more than $675 million in assets and branches up and down the coast. Today the bank’s assets total more than $1.5 billion managed at 16 branches by 225 employees.