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About Our Merger with Kennebec Federal Savings

We are honored to take this exciting next step into our future with you.


Merger Update - March 5, 2021

An update for KFS customers -- Our merger will be completed this weekend! Here are some important reminders:

- Online and mobile banking access will be limited to View Only. You will be able to log in to your KSB online and mobile banking on Monday, March 8. At this point, your KFS online and mobile banking will be disabled. 

- Continue to use your KFS debit card until Monday, March 8 when your new KSB card will be enabled.

- We are offering extended phone support hours to be on hand to answer your questions. 

We look forward to serving you under the KSB name!


Merger Update - March 3, 2021

This weekend, Kennebec Savings Bank will complete our merger with Kennebec Federal Savings, another outstanding community bank that has been serving the people of Waterville for 85 years. With this merger, we will have a new full-service location and ATM at 11 Washington Street and look forward to growing our presence in the Waterville community.

On Saturday, March 6th, in the afternoon and into the evening, there will be periods of time when our online and mobile services will be unavailable and our ATM network will offer limited services.  There may be some minor interruptions with debit card use during the same time period.

Our priority is to provide a smooth transition for our new customers with as little disruption to KSB services as possible over the coming weekend. We apologize for any inconvenience. 

Please visit our website to learn more about our merger and how it will benefit our customers, employees, and community. As always, our team is here to answer your questions at 207-622-5801.


Merger Update – February 26, 2021

Last week, current KFS customers received a guide in the mail that outlined what you can expect before, during, and after the merger takes place in just a few short weeks. It also provided you with an overview of the new services you will have access to as a Kennebec Savings Bank customer. 

Here are some of the highlights:

Account transfers made easy. You will have access to KSB’s TransferNow service, allowing you to send money between your deposit accounts with us and your accounts at other qualifying financial institutions. You will be able to easily set push or pull funds on demand or a recurring basis.

Debit cards with increased limits and the latest in mobile technology. Your KSB debit card will come with increased daily limits of $500 for ATM cash withdrawals and $2,500 for transactions. You will also have the option to digitize your debit card and make contactless transactions with your phone through Apple Pay, Google Pay, and Samsung Pay.

ATMs that do more for you. KSB is currently upgrading our ATMs to provide new features such as the ability to make smart check deposits (images printed on receipts & immediate funds availability) and the ability to choose your preferred bill mix when making cash withdrawals. 

Savings on ATM fees. Your KSB debit card or ATM card qualifies for surcharge-free ATM access at community bank locations all across the state – more than 200 ATMs in total! Plus, the location feature in KSB’s Mobile Banking app includes all participating Maine Cash Access ATMs, using your device's location to establish the closest available ATM. 

A partner in your financial success. Our Investment Services team is ready to work with you! Our customized programs are designed to help you accumulate, protect, and conserve your wealth by delivering an unprecedented level of personalized service and experience.  

A one-stop shop for commercial banking. Whether you are financing real estate, vehicles, or simply need reserves, our commercial team is ready to support you. 

These are just the highlights -- there are more service enhancements coming to you. You can access our guide to learn more here.


Update - February 17, 2021

With just a few weeks to go, it is really starting to feel like our merger is just around the corner. Our teams are working diligently to ensure current KFS customers have the information they need to experience a smooth transition over the weekend of March 5, 2021.

A number of our customers have been asking about why financial institutions like ours merge, and how it differs from an acquisition. How do customers and employees benefit from one, the other, or both? We can shed some light on these questions.

When we announced our merger in June, we talked about how bringing together our two institutions felt like the right next step in our future. As community banks, the economic health and vitality of our region is at the heart of everything that we do. We have each been serving the people of Waterville for decades, and have been equally committed to providing a superior customer service experience focused on personal relationships. Both KFS and KSB have strong reputations for being deeply involved with nonprofits and charitable causes to support the growth and prosperity of our region. We proudly believe that is why our customers have chosen to bank with us.

Although it may be easy to see why this merger makes sense, the decision to do so was many months in the making and carefully considered. Ultimately, and after a great deal of due diligence and counsel, we determined that by coming together as one institution under the KSB name, our customers, employees, and the Waterville community will benefit from the enhanced products and services we will offer while keeping true to the heritage or our respective organizations. As the process to merge continues to move along smoothly, we are more eager than ever to see what the future holds as we come together.


KFS Customers - Your NEW Debit Cards are on the Way!

In the next few weeks, your new KSB debit cards will arrive to you in the mail. Information regarding what you will need to do will be enclosed, which includes: 

  • When you receive your card, activate it and read the enclosed information.
  • Continue to use your KFS debit card through March 7, 2021.
  • Start using your KSB debit card and destroy your KFS card on March 8, 2021.

Also, remember to update payment instructions with auto-pay merchants and subscription services and add this card to your Apple Pay, Google Pay, or Samsung Pay on or after March 8, 2021.


Merger Update - February 11, 2021

In the last week, current KFS customers have started to receive important communications in the mail to help you experience a smooth transition from Kennebec Federal Savings to Kennebec Savings Bank. Below, you will learn about two of these communications and when you can expect to receive them.

A Guide to Your New KSB Products

You were recently mailed a book with important information about how the merger will affect the products you currently use at KFS. KSB offers very similar products to KFS, but they have different names and slightly different features. There is also helpful information about funds availability, fee schedules, electronic fund transfers, and much more. We encourage you to review the information provided, with particular attention paid to information highlighted with bold, orange lettering.  

A Guide On What to Expect on Merger Weekend (March 5-7, 2021)

Within the next few weeks, you will receive a guide that provides an overview of what to expect before, during, and after the merger occurs over the weekend of March 5, 2021. In addition to other helpful information, the handy guide provides a timeline of the merger process, a simple checklist of what you will need to do before and after the merger, service enhancements, and other considerations. 

If you have any additional questions, please reach out to us at (207) 622-5801. 


Merger Update - February 5, 2021

With a little over a month to go until the merger of Kennebec Federal Savings and Kennebec Savings Bank takes place, we are working diligently to ensure current KFS customers experience a smooth transition. In an effort to keep you as informed as possible, you will hear from us on a weekly basis with important updates and information to help you get to know Kennebec Savings Bank.

An Opportunity for Consolidation

KSB Waterville

A potential buyer has expressed interest in purchasing the KFS Main Street location after the merger. When we entered the merger agreement last spring, our plan was to reopen the branch, even though Kennebec Savings Bank has a branch in very near proximity. We were optimistic that the COVID pandemic would be long over by then. As COVID has continued on, we have received positive feedback from KFS customers that they are enjoying the convenience of the Washington Street location and its drive-up. Given these factors, we have decided to consolidate KFS’s 70 Main Street branch into the Kennebec Savings Bank branch at 226 Main Street, immediately following the merger.

We are excited about this opportunity because we believe it presents a number of benefits for our customers and employees. KSB’s Waterville branch is just 350 yards up the street and offers ample private parking, a convenient drive thru, and all of the services KFS offers at its 70 Main Street location – and more. The same employees you work with now will continue to work with us at each of our Waterville locations.

KSB’s roots in the Waterville community run deep. In 1995, KSB merged with Waterville Savings and Loan Association, which had been serving the people of Waterville since 1887. Today, KSB’s Waterville branch is second in size only to our flagship location in Augusta and after this consolidation, the Main Street office will be very close in size to the Augusta office. Although this consolidation means there will be one less branch in Waterville than we initially intended, current KFS customers will enjoy two full service branches with drive-ups windows upon completion of the merger. KSB remains fully invested in serving the Waterville community for many years to come.

There are many details to consider related to this consolidation, and we are working hard to finalize them so that we can communicate them with you as soon as possible. 


Update on our merger with Kennebec Federal Savings

August 2020

Last month, we shared our intent to merge with Kennebec Federal Savings in Waterville. Since this announcement, our teams at KSB and KFS have been working together to move through the many complex steps necessary to complete the merger.

I am pleased to share that thanks to everyone’s hard work, our application has been accepted by the State of Maine and we have now entered a 30-day public comment period. This action makes it possible to work with our financial services vendors to establish firm date for when the merger/transition will take place. At this juncture, we plan to complete the merger on March 8, 2021.

As promised, I will continue to keep you updated as we move through this process.


Andrew E. Silsby
President & Chief Executive Officer


Announcing our merger with Kennebec Federal Savings

July 2020

In the next 5-8 months, Kennebec Savings Bank will merge with Kennebec Federal Savings, another outstanding community bank that has been serving the people of Waterville for over 80 years. Like KSB, they are well known for their personal approach, excellent customer service, and strong commitment to the community.

And that’s why this merger is the right next step into our future. Together, we will be able to offer more products, services, and convenient branch locations, but with the very same commitment to our customers and community.

To put it simply: all of the great employees, community involvement, and financial services you love will continue to serve you. And then some!

Where can I learn more?

We understand that you will have many questions as we move forward with the merger. Rest assured that we are committed to keeping you informed and making this a smooth transition for all.

Please also feel free to reach out to our branch staff should you have questions specific to your own financial situation.


Andrew E. Silsby
President & Chief Executive Officer