The two financial institutions had announced decision for the merger on 22 July. The new entity to be formed after the merger will operate under the Camden National Bank name and brand.
At closing, Camden National is expected to have total assets of $3.6bn, total loans of around $2.4bn and total deposits of about $2.6bn that is likely to make it the largest financial institution headquartered in Maine.
Camden National president and CEO Gregory Dufour said: "Obtaining all required regulatory and shareholder approvals are major milestones towards completion of the merger.
"The overwhelming vote for the merger by each company’s investors demonstrates the confidence and belief that as a combined organization the companies are even stronger."
Once the merger is completed, around 80% of The Bank of Maine’s common shares will be converted into Camden National common stock whereas the remaining 20% will be exchanged for cash.
"The merger of The Bank of Maine into Camden National Bank will create Maine’s largest community bank, providing customers with sophisticated products and services, as well genuine and personal banking experiences at any one of our 64 branches, over 85 ATMs, and through our state-of-the-art online and mobile banking platforms," added Dufour.
