Letter from the President
At Machias Savings Bank, our mission—building thriving communities by helping businesses and people prosper—is grounded in a simple belief: community banks play an essential role in providing stability, access, and opportunity, especially during times of change. The role of an independent mutual savings bank has never been more important for businesses and communities. In 2025, that belief guided how we showed up for our customers and invested for the long term.
Our culture standards remain the foundation of the bank. They shape how decisions are made and how customers experience us every day. Customers keep calling, visiting branches, and deepening their relationship with us because we know them and can deliver responsively to their banking needs. Our regional structure allows us to remain locally focused and empowered to make decisions, while our increasing asset size allows us the scale needed to address growing technology and regulatory requirements.
During the year, we continued to fulfill our role as a community economic engine. We completed more than 1,500 business loans and modifications and supported 160 home, second‑home, and investment property purchases. We met the deposit, lending and service needs of over 7,000 business customers. While our branch teams and customer service remained central to that work, our digital channels expanded convenience across our footprint. Nearly five million digital logins from 25,000 users reflect how customers increasingly choose to engage with us—on their terms, when and where it works best for them.
We made deliberate investments in technology and even more investments in great talent to ensure we remain strong, relevant, and resilient. System enhancements improved security and access for customers, while providing our teams with better tools to serve efficiently and effectively. We welcomed 53 new employees, exceptional talent drawn by a culture that has placed us on the top 5 Best Large Companies to Work for in Maine list for 10 consecutive years. In 2025, we earned the distinction of second-best large employer to work for in Maine.
Our commitment to communities extends beyond banking. Ninety‑four percent of employees volunteered more than 11,600 hours, and together we invested $900,000 in nearly 600 nonprofit organizations. These efforts contributed to our fifth consecutive “Outstanding” CRA rating—recognition achieved by only a small percentage of banks nationwide. This reinforces our belief that community banks show up, engage, and help people prosper.
Strong performance enabled continued growth and impact. Operating income increased year over year, assets reached $2.7 billion, and we expanded beyond Maine with the opening of our Manchester, New Hampshire branch—extending our reach while maintaining the exceptional service our customers expect.
We are aware the banking landscape is evolving rapidly, shaped by artificial intelligence, emerging payment technologies such as stablecoins, and increased fintech competition. We embrace innovation thoughtfully—balancing progress with trust, judgment, and accountability—confident that disciplined community banks remain well positioned to lead in a more complex financial world. I have long said we don’t plan on being just another average bank. We intend to lead, maximizing our profitability so we can maximize our impact, ensuring we’ll be around to help our employees, customers, and communities thrive for many years to come.
President + CEO
Larry Barker
