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Home > Company Index > Banking > Banking - Northeast > Banknorth Group, Inc.

Banknorth Group, Inc.
Nasdaq: BKNG
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 PROFILE
This down east bank is heading south. Banknorth Group is storming Massachusetts with its planned acquisitions of Andover Bancorp and MetroWest Bank. The company's eight subsidiary banks provide consumer and business banking through nearly 300 branches in Maine, New Hampshire, Massachusetts, Vermont, New York, and Connecticut. Consumer loans make up about 30% of the company's loans, with residential mortgage, commercial real estate, and commercial loans rounding out the loan portfolio. The acquisitive company offers nontraditional services such as mortgage banking, leasing, and brokerage services. Banknorth owns one of Maine's largest independent insurance brokers, Morse, Pason & Noyes.

 COMPETITION
Bar Harbor Bankshares (BHB)
First Coastal Corporation (FCME)
FleetBoston Financial Corporation (FBF)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 1,541.50
1-Yr. Sales Growth: 48.6%
Employees: 5,000
Revenue per employee: $308,300.00

 KEY PEOPLE
• William J. Ryan
    CEO
• Peter J. Verrill
    CFO

 CONTACT INFO
1 Portland Sq.
Portland, ME 04112
US
Phone: 207-761-8500
Fax: 207-761-8534
Online: Web Site

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