BayCoast Bank, a Massachusetts chartered savings bank headquartered in Swansea, Massachusetts, has applied to the Maine Bureau of Financial Institutions’ Superintendent pursuant to Title 9-B M.R.S. Chapters 101 and 121 to acquire additional equity interests in Plimoth Trust Company, LLC, a Maine nondepository trust company located in Plymouth, Massachusetts. BayCoast Bank currently owns 80% of the membership units of Plimoth Trust Company, LLC. Upon consummation of the proposed transaction, BayCoast Bank will own 100% of the membership units of Plimoth Trust Company, LLC.
The public is invited to submit written comments on this application to the Maine Bureau of Financial Institutions, 36 State House Station, Augusta, Maine 04333-0036 or electronically through the Bureau of Financial Institutions’ website at www.maine.gov/pfr/financialinstitutions. A hearing on this application will be held by the Superintendent, as provided in Title 9-B M.R.S. § 252, upon receipt of a bona fide and reasonable request. The Bureau will accept written comments and requests for a hearing through Thursday, October 13, 2022. The Superintendent's decision on this application will be based on the decision-making criteria set forth in Title 9-B M.R.S. § 253.
/s/ Lloyd P. LaFountain, III
September 13, 2022