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LastPass Password Manager Breach
LastPass, the world’s most popular password manager, was breached twice in 2022. The second breach led to bad actors obtaining encrypted copies of users’ vault data – which includes usernames and passwords. Although the encryption applied to these vaults is very strong, it is not invulnerable. What to do? Enable multi-factor authentication everywhere it is...
General
Maine District Office Presents GSB With SBA’s 2022 District Director Award
Gorham Savings Bank was recently awarded the U.S. Small Business Administration’s 2022 District Director Award in Maine for completing eight 504 loans totaling $7.9 million, thirty-three 7a loans totaling nearly $5.2 million which, when combined with SBA’s portion of the loans, represented about $13 million in financing to small businesses here in Southern Maine. SBA...
Press Room
Gorham Savings Bank Maine Marathon Delivers Early Holiday Gift to Educate Maine
The Gorham Savings Bank Maine Marathon, Half Marathon, and Relay exceeded expectations by raising a record-breaking $506,000. The unexpected additional revenue allowed race organizers to brighten the holiday season for Educate Maine with a gift of $15,000. “Once again, thanks to the generosity of our running community, event revenue came in higher than projected,” said Bob Dunfey, volunteer...
Security
Keeping a Watchful Eye During the Holidays
You decided to brave the holiday crowds. You’ve been waiting in line for hours to purchase a must-have gift, finally make it to the checkout to pay, and the transaction is declined. GASP! What? How!? A call to the card issuer reveals that your information has been stolen, and your account has been maxed out....
Security
Cybercrime This Holiday Season
This holiday season, use caution when shopping online. Be wary of these common holiday scams. Remember to always think before you click. Too-Good-To-Be-True Sales & Deals If you’re like many holiday shoppers looking for a good deal on gifts, remember to avoid any sales that seem too-good-to-be-true (because they probably are). Phishing emails or ads...
Security
How Fraudsters Are Exploiting Digital Platforms with Creative Phishing Scams
In an increasingly digital world, phishing scams are becoming more prevalent. The fraudsters behind these scams are finding more creative ways to exploit digital platforms like email, text, phone and peer-to-peer (P2P) payment apps. According to the Federal Trade Commission’s report on fraud, it’s estimated that American consumers lost a staggering $5.8 billion to phishing...
What's New
A Better Business Online Banking Experience
Online Banking will soon have a more modern look and feel! As your business is converted to the new interface over the next several months, you’ll notice: Streamlined navigation making it easier to find the tools you need to manage your business accounts The same advanced security you know and trust Plus, you’ll now have...
What's New
Preparing for a Changing Economy
As the Federal Reserve raises interest rates to combat inflation, it’s important to understand that its action will translate into higher rates for mortgages, home equity lines of credit, auto loans, credit cards, and a wide range of financial products. The goal of this policy is to reduce demand and lower spending to slow inflation,...
What's New
New Logo Reflects Brand Values and Signifies a New Day at GSB
Gorham Savings Bank unveiled its new logo today with signage on its Main Street, Gorham and Marginal Way, Portland office building. The new mark will be rolled out across the Bank’s additional ten branches and remaining office locations, and begin appearing on other branded materials, over the next several weeks. The logo was the culmination of...
Security
Protect Yourself from Peer-to-Peer (P2P) Related Fraud
Peer-to-peer (P2P) payment apps such as Zelle, Venmo and CashApp enable users to conveniently send money directly to another user — and fraudsters aren’t afraid of exploiting them. P2P related fraud has been increasing over the last few years. With bad actors are finding very creative ways to exploit these P2P payment apps with phishing/smishing/vishing...
Press Room
Gorham Savings Adds Commercial Banker
Gorham Savings Bank, a leading southern Maine financial services institution, has hired Matt White as vice president, commercial banker. White joins GSB with over a decade of commercial banking experience at large regional banks, most recently KeyBank, where he excelled in commercial credit and relationship management. “Matt is a great addition to our growing business...
General
Mobile Check Deposit
Deposit checks from almost anywhere with the GSB Mobile App. Quickly make a deposit and receive a confirmation so you know right away your deposit has been received. How to deposit checks: Open the GSB Mobile App, click the Menu (+) link at the bottom of the screen and select Deposit. Sign the back of the check...
Community
Believing in Conservation | PRLT Matching Challenge
Gorham Saving Bank is proud to announce its contribution to The East Windham Conservation Project of up to $50,000. This project will create the largest wildlife habitat and trail access corridor in Greater Portland, providing 2,000 acres of conserved land and a 30-mile trail network. The Presumpscot Regional Land Trust (PRLT) had the rare opportunity...
Security
Beware of Amazon Prime Day Scammers
Amazon Prime Days brings discounted prices along with new phishing scams from cybercriminals looking for any opportunity to capitalize. Phishing emails using the Amazon brand to add legitimacy top the list, but scams involving text messages and even phone calls saying they are from Amazon have been reported. These scams take into consideration the huge...
Press Room
Solar Array Dedicated to Dan Hunter in Ribbon-Cutting Ceremony
Gorham Savings Bank, a leading Southern Maine financial services institution, announced today at a ribbon-cutting ceremony that its 1.1-million-dollar investment in clean technology is now operational. The installation was formally named the Daniel P. Hunter Solar Farm after the bank’s recently retired CFO and COO who spearheaded the project. “We’re carbon neutral,” said Steve deCastro,...
Press Room
USM and Gorham Savings Bank Partner for Promise Scholars
Shared from the USM Office of Public Affairs. Jacob Curtis, a first-year undergraduate at the University of Southern Maine, is the first USM Promise Scholar to participate in a paid internship at our pilot placement employer, Gorham Savings Bank. This new initiative seeks to connect underserved students with area businesses aligned with their field of...
Press Room
Earth-Friendly Packaging Solution Earns GSB’s $50,000 LaunchPad Grant
Tanbark, a packaging manufacturer that creates custom, sustainable, recyclable, and often compostable molded fiber packaging using Maine trees and Maine labor, was named the 2022 winner of Gorham Savings Bank’s annual LaunchPad small business competition and earned its corresponding $50,000 no-strings-attached LaunchPad Grant. The company was chosen from among five finalists who pitched Tuesday afternoon...
What's New
We’re Building A Better Online Banking Experience
Online Banking will soon have a more modern look and feel! Customers will be converted in stages over the next several months. As you are converted to the new system, you’ll notice: Streamlined navigation making it easier to find the tools you need to manage your finances Touch-screen technology A consistent experience between Online Banking...
Press Room
LaunchPad 2022 Finalists Announced
Gorham Savings Bank has selected finalists for its annual LaunchPad small business competition. From a diverse, statewide applicant pool of innovative small businesses, five rose to the top and will move on to the next round: a live pitch competition taking place on Tuesday, June 7 at 4:30pm at UNE’s Innovation Hall on Stevens Avenue...
Security
Account Alerts
Account and Service alerts provide real-time updates on a variety of account activities to better manage your finances. Choose to receive email or text alerts – they’re user-friendly and help you keep track of money moving in and out of your accounts to prevent overdrafts, avoid fraud and keep a closer eye on your finances....
Press Room
30-Year Banking Veteran Elevated to Chief Risk Officer
Gorham Savings Bank, a leading southern Maine financial services institution, has promoted Julie Brooks to chief risk officer (CRO) effective immediately. Brooks is responsible for the bank’s enterprise risk management program, which consists of compliance, information security, bank secrecy, fraud and audit. With more than 30 years of banking experience, Brooks joined Gorham Savings Bank...
Press Room
Julie Viola Named 2021 SBA’s STAR Award Recipient
GSB’s Julie Viola has been named the 2021 SBA STAR Award recipient. This award is given by the Maine District Office to an individual who supports the SBA’s programs and consistently exceeds expectations for their customers. Julie is being recognized for her ongoing hard work with the SBA’s 7(a) Lending Program, CEI, GPCOG, SBDC and...
What's New
New City of Portland Microenterprise Grant
The City of Portland announced a new Microenterprise grant program to aid existing and new businesses that have been or continue to be impacted by the pandemic. The grant will provide up to $7,500 in funds for rent, payroll, equipment, insurance, inventory, and other working capital needs. To be eligible: The business or nonprofit must be...
General
Register for the AHA’s 2022 Maine Heart Walk
The American Heart Association’s 2022 Maine Heart Walk will be held on Sunday, May 15 at 9:00am at Portland’s Baxter Boulevard. GSB President and CEO, Steve deCastro, is serving as this year’s volunteer Walk Chair. Steve and his committee have set a fundraising goal of $450,000 through corporate donations and walk teams. “Heart health is...
Press Room
GSB’s LaunchPad Celebrates 10-year Anniversary
Gorham Savings Bank will begin accepting applications on March 1 for its 10th annual LaunchPad small business competition – this year as a hybrid in-person and livestreamed pitch event. In the competition, the premier event of its type in Maine, innovative small businesses compete for a $50,000 grant from the bank. “Discovering an innovative and...
Press Room
Marathon Contributions, Totaling $60,000, Focus on Underserved Populations
Bob Dunfey, volunteer race director for the Maine Marathon, and Steve deCastro, president and CEO of Gorham Savings Bank, title sponsor since 2010, announced today that Stop Trafficking US, Through These Doors, Wayfinder Schools™, and World of Change are the primary race beneficiaries for 2022. Stop Trafficking US (Portland – $3,000) The organization was established...
What's New
Positive Pay can protect you from check fraud losses
Please be aware that we’ve recently seen an uptick in business check fraud, mainly from unattended mail. It’s important to have either a P.O. Box or direct delivery inside an office. If a criminal gets a hold of your checks, they’ve now obtained private business information, which not only allows them to alter your checks,...
Press Room
New COO Enhances Expertise in Finance, Strategy, and Operations
Gorham Savings Bank named Dimitri Michaud as its new chief operating officer. He will report to Steve deCastro, the bank’s president and CEO. Michaud brings nearly two decades of experience in business strategy and operations from leadership roles in the public and private sectors. Prior to joining the bank, Michaud was chief operating officer for...
Press Room
Gorham Savings Bank promotes New Chief Financial Officer from within
Gorham Savings Bank, a leading southern Maine financial services institution, named Jane Stack as its new chief financial officer effective January 1, 2022. She will report to Steve deCastro, the bank’s president and CEO. Stack was most recently senior vice president, controller, where she oversaw and led the Finance, Accounting, Accounts Payable, and Proof Departments....
Press Room
GSB Maine Marathon Awards Camp Susan Curtis Unexpected $20,000
The 2021 Gorham Savings Bank Maine Marathon, Half Marathon, and Relay exceeded expectations by raising a record-breaking $430,000 for nearly 40 area nonprofits. The unexpected, additional revenue allowed race organizers to brighten the holiday season for Camp Susan Curtis with a gift of $20,000. “This funding will give Maine children in need the opportunity to go to camp...