Franklin Countys First News

Bangor Savings makes Forbes’ ‘World’s Best’ List for second year in a row

BANGOR - Bangor Savings Bank’s commitment to building a strong culture focused on experience demonstrating You Matter More in all they do, has garnered the Bank recognition regionally, nationally, and now on the world stage.

The Forbes 2020 “World’s Best Banks” list has named Bangor Savings Bank as the ninth best U.S. bank, a jump of 13 spots from last year. Bangor Savings Bank is the highest Maine-based institution of 75 U.S. banks on the list.

“Our You Matter More promise is a commitment that we each make in how we interact with our customers and defines our approach to developing products and providing services. It’s gratifying to see an international brand like Forbes recognize it too,” said Bangor Savings Bank President and CEO Bob Montgomery-Rice. “Making the list of the world’s best is an honor, affirming that everything we’re doing is what’s best for our customers and community.”

While some bank ranking lists depend solely on balance sheets and profit and loss statements, the Forbes “World’s Best Banks” list took a different approach. Forbes partnered with market research firm Statista to ask 40,000 consumers across 23 countries to evaluate their own financial institution. An additional 25,000 were interviewed in the U.S. The scores were based on overall recommendations and satisfaction in addition to evaluations in the categories of trust, terms and conditions, customer services, digital services, and financial advice.

The news comes just weeks after Bangor Savings Bank was #1 in the New England region of the J.D. Power 2020 U.S Retail Banking Satisfaction StudySM, 5 out of 6 years in a row. Later this year, Bangor Savings plans to finalize its acquisition of Damariscotta Bank & Trust.

“Regardless of our size or the accolades we receive, we remain focused on one thing, and that’s constantly striving to be better for our employees, customers, and communities,” said Montgomery-Rice.

Learn more about the scoring methodology and ranking conditions for Forbes World Best Banks here.

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1 Responses »

  1. This is great news! Congratulations Bangor Savings! I have been impressed by this bank for years, and actually moved as many accounts as possible, both personal and business, to their bank. Their work for the local communities is admirable, and all of the personnel I have had dealings with are both professional and caring.

    Keep up the great work Bangor Savings!

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