Brian King, president of Bank of America Maine, recently spoke with Mainebiz about the bank's presence in the state and its future growth objectives. King splits his time between Portland and Belfast, where the majority of the bank's Maine workforce is located. According to King, 500 of the bank's 700 employees in Maine are based at the Belfast campus.
The Belfast site has a history dating back two decades, originating from the acquisition of MBNA by Bank of America. While the location initially focused on credit card support, King noted that the roles have expanded over the last 20 years. Current operations include inbound and outbound phone servicing for both credit card and deposit clients.
The site also hosts technology teams working on backend systems, marketing staff, regulatory control personnel, and support services teams. King stated that the acquisition created numerous career opportunities for local workers.
Regarding market share, FDIC data cited in the interview indicates that Bank of America held 4.8% of Maine deposits as of June 30. King outlined a strategy to increase this figure by welcoming new clients and deepening relationships with existing ones. He highlighted the synergy between wealth management and business banking, particularly for business owners undergoing liquidity events such as company sales.
The bank is also pursuing new clients through partnerships, including a recently announced collaboration with the Hearts of Pine soccer club.
King addressed how the bank balances its corporate identity with local community involvement. He noted that each of the bank's 97 markets has a dedicated leader, and he has been based in Maine for nearly 30 years. He is active in the Maine Bankers Association, where he collaborates with peers on issues in Augusta.
