Bank of America Maine president outlines plans to grow market share from Belfast base

Belfast campus anchors Maine operations two decades after MBNA deal

Bank of America Maine president Brian King said the bank's sprawling Belfast campus is the legacy of the MBNA acquisition 20 years ago and remains central to its statewide presence. Of Bank of America's 700 Maine employees, 500 work in Belfast, with King dividing his time between that site and Portland. He described the location as having shifted from a primarily credit-card-focused operation inherited from MBNA to a hub handling enterprise-wide functions, including technology work on credit-card systems, marketing, regulatory control and support services, alongside inbound and outbound customer calls for both credit-card and deposit clients.

Strategy targets a larger slice of Maine deposits

King said growth in Maine will come from welcoming new clients and deepening existing relationships, including cross-selling business banking solutions to wealth management clients following events such as a company sale. As of June 30, FDIC data cited in the interview put Bank of America's share of Maine deposits at 4.8%. The bank has also been expanding its profile through community partnerships, including a recently announced tie with the Hearts of Pine soccer club.

Community ties and competitive positioning

King, who grew up in Maine and has worked there for nearly 30 years, sits on the Maine Bankers Association and works alongside other lenders on state-level and community issues, citing the banking sector's response to the Lewiston shooting as an example of that collaboration. He said Bank of America often steps in when clients outgrow what their local bank can provide, framing that handoff as a collaborative effort to serve a Maine client rather than a competitive loss for the originating institution.

Workforce and career mobility at the Belfast site

King pointed to career mobility inside the Belfast workforce as a defining feature of the site, noting that employees who began by servicing credit cards have moved into roles supporting the systems, marketing and regulatory functions behind the credit-card business. He attributed that expansion of opportunity directly to Bank of America's acquisition of MBNA, arguing those paths likely would not have existed otherwise.

Next milestone

Bank of America has not announced a specific date for its next Maine deposit-share update, leaving the next verifiable checkpoint at the subsequent FDIC data release.