Auburn Bancorp gains ‘outstanding’ rating

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AUBURN — At the bank’s annual meeting, held on Nov. 26, President Allen Sterling proudly shared with Auburn Bancorp investors the news of the bank’s “Outstanding” rating, awarded following a 2014 examination of the institution’s lending practices as required by the Community Reinvestment Act, noting that Auburn Savings is the only Androscoggin County-headquartered bank to achieve this high rating.

Sterling also shared with investors that the Independent Community Banker’s Association placed Auburn Savings as the 84th community bank overall, nationwide, in a new measure of lending success based on a ratio of the amount of originated loans versus the total assets of the institution.

He also welcomed new board members Anne Torregrossa of the law firm Brann & Isaacson, and city of Lewiston Finance Director Heather Hunter, while thanking retiring board members Kelly Matzen and Peter Chalke for years of dedicated service.

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