LEWISTON – Steven A. Closson, Androscoggin Bank president and chief executive officer, presented the bank’s financial performance for 2005 at its annual meeting.

He noted the residential, commercial and small business lending departments collectively increased loans by 18 percent for the year.

Closson highlighted several initiatives and milestones including the creation of a new Retail Banking division headed by William Denehy, senior vice president. Further organizational plans include a move to combine all bank operations and technology functions under a collective department that will enhance communications, business resumption and customer service capabilities. This department, under the leadership of Roy Hibyan, executive vice president, will move to occupy a new, specially designed space in the Bates Mill complex this month.

The appointment of six new Androscoggin Bank corporators also was announced including Steven J. Cornelio, Turner Publishing; Dennis A. Barriault, Central Distributors Inc.; Ronald F. Barriault, Central Distributors Inc.; Rodney A. Cummings, Auburn Concrete; Ronald E. Gobeil, Gobeil’s Furniture Galleries; and John M. Larson, Topsham Fair Mall.

Closson announced Androscoggin Bank’s MainStreet Foundation underwent a significant change in focus and operating format. With Gwendolyn B. Moore as chairwoman of the newly created Foundation Board, the bank’s mission now is to enrich the lives of area children and youth to provide them with hope and opportunity.

The 136th annual meeting was held Jan. 24 at the Ramada Conference Center in Lewiston.

Androscoggin Bank is a subsidiary of Androscoggin Bancorp, MHC, and a state chartered Mutual Holding Co. with $525 million in assets and 12 branch offices serving central and mid-coast Maine since 1870. More information is available at www.androscogginbank.com.