March 28, 2013

Kennebec Savings Bank to build 2nd tellerless branch in Augusta

STAFF REPORT

AUGUSTA -- Kennebec Savings Bank plans to use property it owns on Civic Center Drive to build an electronic banking center similar to the KSB Anytime center in Manchester.

Andrew E. Silsby, executive vice president and chief operating officer of Kennebec Savings Bank, said in a news release that the Manchester facility, built in 2005 on U.S. Route 202, has become a national model for tellerless banking. It processes regular teller transactions -- such as deposits, transfers, and withdrawals -- at 25 percent of the cost, Silsby said.

The bank bought the Augusta property, which is between the Northpark Business Center and Advance Auto Parts, in 2009.

Subject to approval by the Augusta Planning Board, plans call for construction of a building along with parking and landscaping. The electronic banking center will be a smaller, tellerless version of a regular KSB banking office, according to the release, "and is all about convenience, with a walk-in vestibule and drive-thru," plus a new ATM.

"This is a cost-effective way to reach out into high traffic areas where a full branch cannot be justified," Silsby said in the release.

Kennebec Savings Bank has 102 employees and full-service banking offices in Augusta, Waterville, Winthrop and Farmingdale.

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