LEWISTON -Androscoggin Bank held its 134th annual meeting Jan. 27 at the Ramada Conference Center.

Steven A. Closson, Androscoggin Bank president and chief executive officer, presented the financial performance for the year ending Dec. 31, especially noting a 16 percent increase in real estate, commercial and small business loans.

“This noteworthy accomplishment was achieved in spite of a planned reduction in one segment of the loan portfolio,” Closson said. “After becoming an SBA certified lender in 2002, Androscoggin Bank now ranks No. 7 in Maine’s total SBA volume for 2003. The health of the businesses and the communities in our region clearly show optimism and a positive trend for 2004.”

The fifth anniversary of the expansion into the Livermore Falls/Jay region was recognized with the appointment of Norman R. St. Pierre, president of Rancor Inc., to the Board of Directors. Rancor specializes in heating, ventilation and air conditioning installation. It is one of Maine’s largest, mechanical services companies.

Closson also presented an overview of the bank’s charitable giving. In 2003, the bank distributed more than $212,000 to local arts, health and community improvement programs. In the past three years, Androscoggin Bank and its MainStreet Foundation, a private charitable fund, have provided more than $500,000 in gifts to local organizations including the Auburn Public Library, Salvation Army, Franco-American Heritage Center and L/A Arts.

“In strong economic times and in challenging ones, the need for community banking has never been greater,” said Closson. “We’re very proud of our record of charitable giving.”

Carol T. Sabasteanski, president and chief executive officer of FISC and an Androscoggin Bank corporator, gave an informative presentation on the 18-year business partnership between the two organizations.

Located on Lisbon Street in Lewiston, FISC is a fast-growing outsourcing company that provides check and remittance processing as well as loan servicing to more than 100 Maine businesses. With more than 100 employees and $8 million in sales, FISC, partly owned by Androscoggin Bank, represents one of Lewiston’s significant success stories, according to the bank.

Androscoggin Bank is a subsidiary of Androscoggin Bancorp MHC, and a state-chartered mutual holding company with $486 million in assets and 13 branch offices serving central Maine since 1870.