2010Annual Report

Member FDIC

Trust Matters.

Bangor Bancorp, MHCparent of

At Bangor Savings Bank, because we truly believe in the people of Maine, we will invest our

time and our resources to help you. At Bangor Savings Bank, you matter more.

Your ideas matter to us. Your business matters to us. Your well-being matters to us. Simply put,

Maine matters to us.

It’s why we’re committed to giving you the banking solutions you need to achieve your goals.

It’s why we invest in our communities and our people.

We give to Maine and its people because we believe the State of Maine is an exceptional place

to live and work. Because we believe the people of the State of Maine are exceptional people.

Our Promise to You

“When we needed a construction loan for a new office, we chose a bank we knew would be a good partner: Bangor Savings Bank. They understood our process and were with us every step of the way. Our relationship manager took a personal interest in our project. We had a crisis over the weekend of her son’s wedding, but she took our call and made the problem go away. That’s the kind of personal, responsive service you just don’t expect anymore.”

Gary D. Vogel, Esq. Drummond Woodsum

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David M. Carlisle Chairman of the Board

James J. Conlon President and Chief Executive Officer

Stability and Strength Our Customers Can Trust

Dear Corporators, Customers, Employees, and Friends:

Even as the economy and the banking industry continue to change, our message remains the same: Bangor Savings Bank is strong and stable. This strength and security comes from our commitment to the people and businesses of Maine and the trust they have put in us for the past 158 years.

This past year was a challenging one for the people of Maine, as the economy and housing market continued to test families and businesses of all sizes and descriptions. Customers increasingly looked to the security of community banks, and this confidence is a positive sign for us as Maine’s largest independent bank. The result of this confidence was record earnings of $16.9 million.

We work every day to build lasting relationships and be trusted advisors to our customers. We remain committed to maintaining a prudent, consistent approach to our lending and business operations and outlook for the future. This commitment is what has kept Bangor Savings Bank strong and stable, and has enabled us to continue to focus on providing our customers the care and attention they deserve, add thousands of new core deposit relationships, expand our product offerings to better serve our customers, originate hundreds of millions of dollars in new loans, and invest strongly in Maine communities.

Our customers’ trust in us matters. This trust in our stability enabled us to open more than 23,000 new core deposit accounts and grow municipal and government deposits from $100 million to $186 million in just one year.

This trust that we will come through for our customers enabled us to generate over $300 million in home loans and to help hundreds of families purchase their first home.

This trust in our dedication to the businesses of Maine enabled us to generate more than $200 million in business loans this year and add 2,000 small business deposit customers.

We know we must work hard every day to continue to earn our customers’ trust. We invested in enhancing customer service, adding new branches, adding to our team of professionals, and delivering new products and services that bring our customers value and improve convenience and accessibility.

The needs of our communities have never been greater. So we committed $1.2 million to the communities where we do business through programs like Community Matters More and the Salvation Army’s Santa’s Helper campaign.

Bangor Savings Bank exists because more than 100,000 Maine families and businesses have chosen to believe in us. We know our customers have a choice, and we know we have to work hard every day to earn the business and confidence they have placed in us. The people of Maine matter to us, and the trust they put in us every day is a responsibility we take very seriously.

Thank you for your trust and your business.

Sincerely,

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Wealth Management

There is no better example of how we earn our customers’ trust than our wealth management services. At Bangor Savings Bank Wealth Management, we believe that a disciplined, no-nonsense approach to planning and money management helps you reach your individual goals. We offer customers the consistent and transparent approach of a trusted advisor through our team of knowledgeable and seasoned professionals. Our customers acknowledged the benefits of this approach by entrusting us with over $1.6 billion in assets to manage.

Our Wealth Management team knows the industry, and they expertly counsel individuals on investing, estate planning, and retirement planning. We also work closely with businesses to plan for their investments and futures. Business owners continue to turn to Bangor Savings’ Wealth Management to help prepare them for the unexpected and guide them through transition planning for their businesses.

At Bangor Savings Bank, we are committed to building relationships. To helping our customers reach their goals, big or small. And to earning the trust of our customers with each encounter.

“ Personal service is really what makes Bangor Savings Bank stand out from other banks. From estate planning, and the unfortunate reality of having to execute those plans this past year, Bangor Savings Bank has worked hand in hand with me allowing for a smooth transition. Being aware of the customer’s needs is so important when it comes to wealth management, and they are genuinely concerned about their clients. It comes down to people: Bangor Savings Bank has a team of terrific people who know how to take care of their customers.”

John B. Miller

3

Community Development

“Without Bangor Savings Bank, the Baxter Library project wouldn’t have happened. It wasn’t a simple deal and there were many opportunities to fail. But Bangor Savings understands the importance of problem solving. They understand the power of lending and the big picture of a project’s impact on the neighborhood. They’re good citizens, they have a good mission, and they’re willing to go above and beyond to get it done.”

Josh Benthien, Partner Northland Enterprises, LLC Owner/Developer of the Baxter Library

Every Maine community is important. That’s why we are committed to meeting the needs of borrowers in all segments of the communities where we do business.

This year, we originated nearly $50 million in Community Reinvestment Act qualified community development loans. We helped fund affordable senior and special needs housing projects in Bangor, Houlton, Auburn, and Portland; and community healthcare facilities serving rural areas in central and eastern Maine. We also helped fund projects supporting economic development and community infrastructure throughout the state such as the Downeast Lakes Land Trust 22,000-acre conservation and economic development project for the village of Grand Lake Stream in central Washington County.

We are proud that the Federal Deposit Insurance Corporation rated Bangor Savings Bank Outstanding in our Community Reinvestment Act performance and called us a leader in all three evaluation areas: lending, investment, and service. In good times and bad we maintain our commitment to investing in the people of Maine; to helping meet the credit needs of the entire community, including low- and moderate-income individuals, neighborhoods, and businesses.

We’re particularly excited to have had the opportunity to invest in the restoration and renovation of the 121-year old Baxter Library building on Congress Street in Portland. The repurposed building will become home to one of Portland’s largest marketing firms and will help revitalize the downtown area. We joined with Coastal Enterprises Inc. and the Maine Rural Development Authority to finance this important historic landmark.

Every individual, every business, and every community is important to Maine. That’s why we reach out to discover their needs and invest in community development and lending programs. That’s why we take action. It’s the right thing to do.

4

Business Solutions

Our customers put their trust in Bangor Savings Bank because they know we are committed to helping their businesses succeed. They know we keep their interests in mind as we invest in new products and services. They rely on the knowledge and experience of our employees. They are confident we make a difference in their businesses and their lives.

Each of our business lines work closely together to ensure we provide the best banking solutions to meet our customers’ needs. Whether it’s cash management services, payroll services, merchant services, or financing, our business clients get great service and personal attention. Our business bankers have in-depth and current knowledge of compliance, security, and regulatory issues, and an understanding of how that impacts our customers’ businesses.

As the economy shifted the business landscape this year, we were able to help businesses become more efficient by outsourcing their payroll services; find secure solutions to deal with the increase in their customers’ use of credit and debit cards to pay for products and services; and get financing to run their businesses smoothly, including originating more than $200 million in business loans.

We know Maine businesses can choose any bank they want. We know we have to earn their respect and be a bank people want to partner with. We work hard to ensure our clients know how much we value them. And we never take for granted that they’ve chosen to bank with Bangor Savings.

“We moved all our accounts to Bangor Savings Bank two years ago. It takes a long time to move a whole banking relationship, but they made it easy. We like the fact that the decision makers are here in Maine, people familiar with our company and what we do. We like the consistency of dealing with the same people. Bangor Savings is local, but big enough to handle our needs. They’re a good fit for us.”

Ed Dysart, Owner Dysart’s

5

Customer Solutions

Our customers matter at Bangor Savings Bank. We listen. We understand. We believe in our customers and what they can do. They look to us to provide superior customer service, personal attention, and the new and improved banking solutions they need to achieve their goals.

This year we switched our debit card platform, successfully converting over 55,000 check cards to debit MasterCard®. We made this switch to provide our customers with the MasterCard Savings® rewards program—with benefits like free rewards, cash discounts at more than 25,000 merchants nationwide, and exclusive access to daily online discounts on everyday items. In times like these, it’s important to give our customers a little something extra to help them get by, without compromising on the security and convenience our customers have come to expect.

With the continued erosion of privacy in our world, we know it’s important for our customers to safeguard their personal and financial information. Extending the Identity Guard® service to our customers enables us to provide that protection, along with daily monitoring of credit bureaus and email notification of any changes.

To make our customers’ lives easier and to be more environmentally sensitive, we now provide electronic bank statements. It’s part of our B Green initiative, and is an investment in the future of the environment and Maine.

Security, strength, service. That’s what customers expect from Bangor Savings.

“With Bangor Savings Bank, I just get the feeling they care about me. Everyone is friendly when I walk into a branch; even the tellers who aren’t waiting on me say hello. I deal one-on-one with a banker, but I get the sense of a team working with me. Their service is more than professional—they ask about my personal life, my wife, my kids. I feel like part of the family.”

Tom Manning, Owner Miss Portland Diner

6

Home Lending

Home ownership is the American dream. This past year, a record number of customers put their trust in Bangor Saving Bank to help them achieve that dream. Customers relied on our strength and dedication to help them with this momentous decision. We originated more than $300 million in mortgages, and our Welcome Mortgage provided competitive and favorable terms for first-time homebuyers, allowing many Maine families to realize the dream of owning a home.

Bangor Savings Bank is right here in Maine. We live and work in the same communities as our customers. We’ve invested in the people and products that enable us to provide a level of expertise and service others simply can’t. Our customers know our reputation as a strong, reliable lender. And they know that working with a local bank means personal service, face-to-face meetings, and a trusted partner who is just a phone call away.

We are always striving for new and better ways to serve our customers. Because of our success in providing mortgages and serving our communities, we added new mortgage officers to our already outstanding team. We also continue to enhance our relationships with the real estate community and find ways to help them be successful, including offering continuing education classes to help in license renewal.

Maine is a great place to live and work. So our commitment to our customers and helping them purchase a home is not just business to us. It’s who we are.

“This was my first home and the property is on reservation land. Bangor Savings bent over backwards to accommodate the mortgage I needed. It was exciting and nerve-wracking. I didn’t know what I was getting into, but they were the experts. They were very professional and did an excellent job of keeping me informed of where we were in the process. It was a really good experience. I wouldn’t hesitate to recommend Bangor Savings Bank to anyone.”

Angela Lamberth

7

Customer Experience

Bangor Savings Bank customers trust that we will continue our investment in providing the best service, convenience, and accessibility possible.

With 52 branches statewide and more than 650 dedicated employees, we are Maine’s largest independent bank.

We continued our investment in our infrastructure this year to ensure the best services for our customers. We expanded our presence in the Mid-Coast region with new branches in Rockland and Belfast. We relocated our Old Town branch up the street and sold the Main Street building to the city, enabling City Hall to better serve its customers. We also relocated our Lisbon branch and Lewiston business office to a more convenient and full-service location in the heart of Lewiston.

It feels good to get something for free. So on September 17, 2009 we happily paid the meter fees for a full day at 325 parking spaces on Portland’s busiest streets—for everyone. Just like our free ATM program, it’s a nice surprise if you’re used to paying every time.

We are excited to reinforce our commitment to our customers and our community. Investing in our infrastructure, adding convenience, improving customer experience: this is Bangor Savings Bank.

8

Community

Giving back to the community is a core commitment at Bangor Savings Bank. Now more than ever, it’s critical to invest in programs that improve and enhance the lives of Maine’s citizens. Through the Bank and Bangor Savings Bank Foundation, each year we renew our commitment to local cultural, economic, and community programs. This past year, we donated over $1 million so these organizations and programs can succeed. While we cut back on other expenses, we held the line on the Bank’s support for the Foundation’s good work.

The Way We Get By

We are proud of the major financial support we provided the filmmakers who created the documentary The Way We Get By. Our investment enabled us to help thousands of Mainers and millions of Americans get the chance to see this important film. This documentary tells the story of three Bangor citizens who, as Maine Troop Greeters, gather almost daily at Bangor International Airport to thank American soldiers as they deploy or return to U.S. soil. It’s a story about dedication and making a difference. It’s a story about how we all can volunteer and do something for our communities. It’s a story about the character and patriotism of Mainers.

Santa’s Helper Fund

This holiday season, a time when many in our communities felt greater financial pressure, the Bangor Savings Bank Foundation joined with the Salvation Army’s Santa’s Helper campaign to offer aid. In our first-ever effort with this program, we matched all donations dollar for dollar up to $50,000. The money raised—a total of over $112,000—was used to support local families and provide basic needs like food, shelter, and clothing. Those are among the biggest needs in Maine, and we are honored to be able to join with our generous neighbors and community members to provide a bigger pool of money.

“Your participation means so much to those of us who do the frontline

work. As we walked through the terminal, the hustle and bustle of

the airport came to a halt as almost the entire humanity present

gave us a standing ovation. When we see folks like those at the

airport and see the great work that folks like you do in support,

it makes those 130-degree days in the desert melt away. I extend

to your office our standing ovation for a job just as valuable as

ours is…being citizens and more importantly patriots.”

Kenneth P. Aikman, Master Sergeant United States Air Force

Images from The Way We Get By

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Community Matters More

There is no better illustration of our commitment to the people and communities of Maine than our Community Matters More campaign. Community Matters More is a program designed to help Maine-based nonprofit organizations by inviting the citizens of Maine to vote for organizations to receive grant funds. Through grassroots efforts and one-to-one email campaigns, participating nonprofits encourage voting and make the most of their involvement in the program. Community Matters More helps people throughout the state become involved and engaged in helping those most in need.

This year we made grants totaling $100,000 to 68 nonprofit organizations. With the help of critical media exposure provided in partnership with WLBZ-TV 2, WCSH-TV 6, WGAN 560 Newsradio, and Blueberry Broadcasting, we were able to create much-needed awareness of the important missions of these organizations. The community spoke: through more than 82,000 votes for more than 1,900 different Maine-based nonprofit organizations, and more online votes than ever. In these challenging times when many of our neighbors are struggling, the community helped us identify the areas of greatest need, allowing us to contribute to valuable organizations like the Maine Children’s Cancer Program, which provides comfort, care, and treatment for children with cancer and a special place for their families to find support, love, and hope.

In addition to the Maine Children’s Cancer Program, the Bangor Savings Bank Foundation granted $5,000 each to the following organizations throughout Maine: The Ark, Big Brothers Big Sisters of Kennebec Valley, Penobscot Valley Humane Society, Habitat for Humanity of Waldo County, Franklin County Animal Shelter, Stone Soup Food Pantry, the Acadia Hospital Youth Suicide Prevention Program; and $1,000 each to 60 other organizations.

Community Matters More is our way of saying thank you to each of these incredible organizations; the individuals who run them; and the volunteers who give the gift of their time.

“We’re a full-service program caring for kids diagnosed with cancer and their families. This grant from Bangor Savings Bank makes it possible for us to continue to do the work we do, which simply would not be possible without this kind of support. Maine is a huge state, but I’m reminded at times like this how it’s really just one big neighborhood. We are honored and privileged that the community voted us worthy of this award and that Bangor Savings offers this extraordinary program. Thank you.”

Debra Matson, Program Administrator Maine Children’s Cancer Program

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Financial Performance and Growth

For the fiscal year ending March 31, 2010, the Company earned net income of $16,889,000, up $368,000, or 2.2%, over prior year. Due to the strength of its core business, the Company delivered solid financial performance in the face of deteriorating economic conditions, and despite the impact of associated increases in FDIC deposit insurance premiums and provisions for loan losses.

The Company’s assets grew to $2.32 billion, an increase of 2.6% as compared to the same period one year ago. Down 2.3%, net loans were $1.61 billion at fiscal year-end. Residential mortgages outstanding grew robustly by $90.7 million, or 24.0%, while commercial and small business loans experienced a modest decrease of $4.7 million, or 0.7%. Indirect auto loans (originated at the dealership point of sale) declined $130.8 million, or 44.5%, due to the strategic decision to exit this line of business in August of 2008.

Total customer deposits and repurchase agreements grew significantly by $191.2 million, or 11.6%, in a year of aggressive competition for local deposits. Driving this growth were non-CD deposit categories with both individuals and businesses, which together grew $189.1 million.

The Company continued to focus on maintaining sound credit quality, while working proactively with its non-current borrowers and prudently boosting provision for loan losses to reflect the potential effects of a weaker economy. Net charge-offs for the year were 0.48%, and at year-end delinquencies were 1.09% and non-performing loans were 0.88%, respectively, of the loan portfolio. These ratios remain very favorable relative to Maine and national peer bank performance, which at March 31, 2010 had delinquencies of 1.21% and 1.18%, and non-performing loans of 2.06% and 3.44% respectively.*

Capital levels continue to be strong as total retained earnings, or capital, grew by $16.4 million, or 7.0%, to $252 million. The Company continues to be categorized as well-capitalized by its regulators, and key capital ratios all improved over the course of the year. Total capital in excess of the level to be well-capitalized (relative to risk-weighted assets) increased notably during the year (see below).

With a sound balance sheet and strong core business operations and earnings, the Company remains well-positioned for future profitability, growth, and customer service investments even in an expectedly challenging economy and operating environment over the next year.

* The Maine peer delinquent and NPL ratios are based on 21 Maine Association of Community Banks’ (MACB) members (excludes banks headquartered outside the state and trust companies). The national peer ratios are based on the Uniform Bank Performance Report peer group, assigned by the Federal Financial Institutions Examination Council (FFIEC) for comparability, which comprises 52 community banks with assets greater than $1 billion.

Total Assets(in millions)

2006 2007 2008 2009 2010

$2,600

$2,200

$1,800

$1,400

$1,000

Customer Deposits & Repurchase Agreements

(in millions)

2006 2007 2008 2009 2010

$1,900

$1,750

$1,600

$1,450

$1,300

$1,150

$1,000

Net Income(in millions)

2006 2007 2008 2009 2010

$18

$17

$16

$15

$14

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Non-Performing Loans/Total Loans

2006 2007 2008 2009 2010

4.00%

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

Total Capital (As % of Risk-Weighted Assets)

2006 2007 2008 2009 2010

16.00%

14.00%

12.00%

10.00%

8.00%

Note: 10% represents well-capitalized threshold.

Excess Total Capital Above Well-Capitalized Level

(in millions)

2006 2007 2008 2009 2010

$80

$70

$60

$50

$40

$30

$20

$10

$0

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Bangor Bancorp, MHC, parent of Bangor Savings Bank Consolidated Summary Balance Sheets (in thousands)

Audited Financial Statements Berry, Dunn, McNeil & Parker is the Company’s independent accountant. The summary financial information above is derived from the Company’s audited Consolidated Financial Statements. A copy of the Consolidated Financial Statements can be obtained at www.bangor.com or by request by calling 1.877.Bangor1 (1.877.226.4671).

Bangor Bancorp, MHC, parent of Bangor Savings BankConsolidated Summary Statements of Income (in thousands)

2010 2009

Assets Cash and due from banks $34,228 $34,476 Federal funds sold 7,000 – Investment securities 511,939 430,420 Net loans 1,606,379 1,643,848 Other assets 162,677 153,644 Total assets $2,322,223 $2,262,388

Liabilities and Retained Earnings Liabilities Customer deposits $1,656,603 $1,487,727 Brokered deposits 20,023 51,997 Customer repurchase agreements 187,200 164,842 Other borrowed funds 177,261 293,071 Other liabilities 29,342 29,329 Total liabilities 2,070,429 2,026,966

Retained earnings Retained earnings 241,241 224,361 Accumulated other comprehensive income 10,553 11,061 Total retained earnings 251,794 235,422 Total liabilities and retained earnings $2,322,223 $2,262,388 Standby letters of credit outstanding, not included above $5,804 $7,324

2010 2009

Interest and dividend income $115,685 $126,276 Interest expense 35,226 48,129

Net interest income 80,459 78,147 Provision for loan losses 11,200 10,330Net interest income after provision for loan losses 69,259 67,817

Non-interest income 29,183 26,315 Net gains on sales of investment securities 2,068 414Non-interest expense 76,284 70,664

Income before income tax expense 24,226 23,882 Income tax expense 7,337 7,361 Net income $16,889 $16,521

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Corporate Structure, Governance & LeadershipBangor Bancorp, MHC

Board of Trustees

Chairman of the BoardDavid M. Carlisle

Chairman, Prentiss & Carlisle Companies

Vice Chairman of the Board

James H. GoffBusinessman

President and Chief Executive Officer

James J. Conlon

Kathryn L. BarberCivic Leader

Gena R. CanningManaging Partner, Pine State Trading Company

George F. Eaton II, Esq.Rudman & Winchell Attorneys at Law

Charles E. Hewett, Ph.D.Vice President and Chief Operating Officer, The Jackson Laboratory

Richard J. McGoldrickChairman, Commercial Properties, Inc.

Martha G. NewmanDowneast Capital, Inc.

William D. PuringtonPresident and CEO, Maine Drilling & Blasting

Dr. Robert A. Strong, CFAUniversity Foundation Professor of Investment Education, University of Maine

Officers

PresidentJames J. Conlon TreasurerBruce G. Nickerson ClerkYellow Light Breen CorporatorsDebra B. AdditonAngela Z. AloupisPeter V. AnaniaPeter K. Baldacci, Esq.Kathryn L. BarberSally A. Bates

William H. Beardsley, Ph.D.Doris Belisle-BonneauMark A. BisconeEarl C. BlackRobert J. BlanchetteJohn J. BlassPaul T. BlouinBrian H. BouchardJohn A. Bradford, M.D.Franklin E. Bragg, M.D.John W. BraggJames N. Broder, Esq.Gena R. CanningRichard S. CattelleJohn L. ClarkJames R. CochranePatricia K. CochraneStuart M. Cohen, Esq.James J. ConlonRaymond J. Cota, Jr.Kennedy Crane IIIMichael R. CrowleyPeter D. CurranCraig W. Curtis, M.D.Douglas L. CutchinEdward O. DarlingJon F. DawsonWilliam J. Dunnett, Jr.Jonathan D. EamesGeorge F. Eaton II, Esq.Carol A. EpsteinRobert Ervin, Ed.D.Rudolf M.C. EyererChristopher D. FarleyDouglas A. FarnhamC. Bruce FarnsworthRalph B. Farrar, Jr.Holly Smith FernaldDavid T. Flanagan, Esq.Judith D. FordBion A. FosterBrian D. GeaghanHelen L. GencoDonn G. GiffordStephen E. GodsoeJames H. GoffTamera L. GrieshaberElizabeth E. HansenRichard B. HansonLinda F. HarnumDonna L. HathawayCharles E. Hewett, Ph.D.Kenneth A. HewsJohn P.M. HigginsPeter S. Hoff, Ph.D.Linda A. Jensen

Richard A. JonesConstance J. KelseyPaul H. LaMarche, M.D.Anita S. LeonardCharles H. Lightbody, M.D.James W. LoganLeo M. LoiselleJohn M. LordHilda Hutchins McCollumAlice J. McInnisBetty Lou MitchellBetty D. OsgoodWalter J. PeabodyRobert R. PelletierAnne Marie Vickers Quin, Ed.D.Robert M. QuinnCharles E. RobertsClifton L. RockwellWilliam T. Rogers, Jr.Lawrence R. SchiroJohn E. ScovillRosalie F. ShaperoHarold R. Sherman, D.V.M.Earland K. SleightMurray M. StanhopeWakine G. Tanous, Esq.Bourke C. Trask, Jr.Joseph T. Walsh, Esq.Thomas L. Watt, M.D.Alice N. WellmanRoyce G. WheelerRobert B. WhitedCecil D. WilsonJudge Allan Woodcock, Jr.Robert C. WoodwardWilliam P. Zoidis

Honorary Trustees

G. Clifton EamesDavid W. FoxJames F. JaffrayMalcolm E. JonesGary W. Smith

John H. ThomasDaniel G. ThompsonAnn D. TrainorCalvin E. True, Esq.Leonard H. TylerRobert D. UmphreyJudith M. UphamJudith C. WathenJoni Averill WhiteCheryl A. WixsonBeverly N. WoodcockCarol H. WoodcockA. Mark WoodwardLee Woodward, Jr., Esq.Edward M. YoungbloodBob W. Ziegelaar

Honorary Corporators

Mary G. AdamsDonald A. AmblerRobert E. AndersonCatherine B. BellHoward Berg, D.M.D.Merrill R. Bradford, Esq.Wilma A. BradfordRobert H. BrandowArthur P. BrountasPhilip L. CallnanAlan R. CampbellDavid M. CarlisleEleanor B. ChasonHarriette D. CousinsHarold W. CrockerPeter R. D’ErricoRandolph P. DominicJames F. DoughtyAthena V. DuddyF. Philip DufourNelson E. DurginBryant R. DutchFranklin W. EatonRobert J. Eaton, Esq.C. Robert EmersonRichard W. FilesDavid R. GaulRichard W. Glass, Esq.Mary Ann Haas, Ph.D.Geraldine I. HalkettJane H. HansonElizabeth H. HarveyAudrey J. HigginsLeon F. Higgins IIPeter M. Jollie, M.D.

Deborah Carey JohnsonPerry H. JordanRobert A. Kennedy, Ph.D.Elise P.W. Kiely, Esq.Jonathan D. KnowlesYvon A. LabbéBernard L. LaBreeLaurie G. LachanceJane N. Laeger, M.D.John D. Lafayette IIIMark I. Lausier, D.M.D.Norman A. LedwinPaul R. LePageA.U. Liberatore, D.M.D.Christopher G. Limberis, Esq.S. Catherine Longley, Esq.James P. LoweMarlene T. LyfordRobert L. MaddocksRichard J. McGoldrickDaniel G. McKay, Esq.Roger P. MichaudJohn B. MillerBlair C. MorrisonMartha G. NewmanBruce G. NickersonGary P. NixonClayton E. NowellPamela B. O’ConnorMatthew W. OrneJohn F. PartridgeSheila J. PechinskiAlan B. PeoplesAnne E. Pooler, Ed.D.Jonathan D. PriceWilliam D. PuringtonJohn J. QuirkJohn P. QuirkEsther N. Rauch, Ph.D.Stephen B. RichThomas C. RobertsLizabeth K. SchleyLauren B. SchweikertJames D. SetteleJohn I. SimpsonRuthanne S. SingalCarl W. Smith, Jr.Douglas M. Smith, Esq.James F. SmithLawrence J. SterrsJudith F. StevensJames C.R. StonetonDr. Robert A. Strong, CFAWilliam B. SwalesNolan H. Tanous, Esq.John C. Thibodeau

13

Corporate Structure, Governance & LeadershipBangor Savings Bank

Board of Directors Membership of Board of Directors is identical to the Trustees of MHC. Refer to Bangor Bancorp, MHC Trustees on facing page.

Officers

Executive Management

President and Chief Executive Officer

James J. Conlon Executive Vice President and Chief Banking Officer

John A. EdwardsExecutive Vice President and Chief Operations Officer

Robert S. Montgomery-RiceExecutive Vice President, Chief Financial Officer, and Treasurer

Bruce G. NickersonSenior Vice President, Chief Strategic Officer, and Clerk

Yellow Light BreenSenior Vice President and Chief Risk Officer

Richard B. Maltz

Senior Vice Presidents

Steven J. BellRobert A. BurgessMegan L. CloughCarol E. ColsonScott F. CurtisWilliam A. DehaisJames B. DoughtyErin A. HurleyMary Jane IrvingLorraine M. IversJeffrey S. JeterPatrick T. KellyJames A. MacLeodTodd C. MillsJohn A. MooreChristopher J. NelsonGregg M. PiasioGary A. QuintilianiSue A. ReidValerie J. RoyJoyce Clark SarnackiJoseph P. ScullySusan B. SnowdenWilliam B. Swales

Vice Presidents

Cynthia L. AndersonLucie J. AuCoin-HanniganMelinda J. BarnesSven P. BartholomewHoward A. BatesJaime Shapiro BergVicki Lynn BessetteKyle B. BolducChristine M. BosseAnita L. ClarkJean M. ClaveauBrita J. CronkiteRobert M. CyrRebecca M. Davis-AllenJoseph DelanoDiane H. DonaldsonJason G. DonovanTricia M. DuchesneauLisa J. DuguayRyan C. DumondRuth K. DunbarWendy L. DurrahSheryl A. EdgecombTerri-Lynn EldenRenee L. FahieRichard L. Fournier IIPamela J. FowlesCatherine A. FratiniWillem S. FrederikSally A. GarandBrigitte D. GiordanoMark P. GiordanoSandra P. GoodwinNancy Y. HarrisonKaren G. HazeltonKendra D. HelsorJohn F. HennesseySusan L. HodgkinsDavid A. HoldenDarlene H. JamesPeter S. JohnsonGeorge L. Kelley IIScott M. KenneyPatsy P. KortegastVicky J. LaChanceMatthew S. LaPierreRussell D. LumleyKaryn L. MacLeodTheresa D. MairhuberMelissa E. MarcaurelleGeorge A. MaxsimicSuzanne T. MoffattYolanda D. MoffattChristine M. NickersonWilliam T. Olsen, Jr.Michael P. O’Reilly

Officers

James J. ConlonPresident

Yellow Light BreenVice President and Secretary/Clerk

Bruce G. NickersonTreasurer

Bonnie L. MelansonKimberly A. MelvinBetty R. MoffettJennifer M. MorinChristopher S. MorleyKathleen M. NelliganStephanie A. OilerIrene M. OldfieldDoreen M. PeaseAnn B. PottleCarole S. PottsKristy L. RichardsonMichelle L. RitchesonGavin A. RobinsonMary E. Rogan-GordonEric B. RutherfordJoshua E. SandersCynthia F. ShoppeJason D. SimsayLori A. SinclairPenny G. SmartLouise M. SmithBarbara H. SouleBrian A. StanleyCynthia J. StevensMichele R. TanguayDonna M. TempleHeather WeymouthScott A. WhipkeyKelly J. WinslowScott R. WoodwardKaryn M. WoolleyStacey J. Young

The Bangor Savings Bank Foundation

Directors

Gary W. SmithChairman

Kathryn L. BarberGena R. CanningDavid M. CarlisleJames J. ConlonGeorge F. Eaton II, Esq.James H. GoffCharles E. Hewett, Ph.D.Richard J. McGoldrickMartha G. NewmanWilliam D. PuringtonDr. Robert A. Strong, CFA

Kim A. PelletierDawn L. PlaceJonathan M. PlummerCatherine A. ReynoldsSherry L. RobertsRonald L. RoopeJennifer R. SeekinsDavid J. SmallwoodBonita L. SmithWesley M. StevensTraci J. TenggrenJane L. TowneTeresa D. TrickeyMatthew T. WatkinsRose M. WhiteStephan L. Woods

Assistant Vice Presidents

Christopher J. BolducAmy M. ChubbuckBarbara H. CondaJulie K. CoteLillian B. CoteTimothy J. CropleyJeremy A. DaigleGalen L. DalrympleCarol M. DawsonTeresa M. DrownKenneth J. FerlandJaclyn A. FishEleanor M. FlaggMabel J. FosterChristopher A. FrohockJo A. GeddisDarrell E. GillAmber C. GliddenRoger V. GrayKelly J. GreeneTamatha T. HaneyMarilyn G. HartfordStacey L. HaskellJeffrey R. HigginsLaura A. HuddyBrian K. JacobsBlaine L. JonesDavid J. LandryGeorge L. LeakosSusan F. LeeSuzanne R. LibbyAnn J. LindemanMichael E. LudwigRebecca S. MacDonaldBonita L. MaceMichele R.S. Mann Shawn R. McKennaEric McLeod

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Business Locations

Member FDIC

Augusta77 Capitol Street 207.622.4321

Bangor3 State Street 207.942.5211

652 Broadway 207.942.4874

871 Hammond Street 207.990.5716

687 Hogan Road 207.942.4818

Belfast7 Belmont Avenue 207.338.4270

106 Main Street 207.930.7014

Biddeford163 Main Street 207.282.4121

5 Washington Street 207.282.4121

Brewer425 Wilson Street 207.989.1944

Bucksport89 Main Street 207.469.5992

Calais232 North Street 207.454.0223

Camden/Rockport5 Commercial Street Rockport 207.236.0180

Castine213 Battle Avenue 207.326.0654

Cornish180 Maple Street 207.625.0950

Dexter22 Main Street 207.924.3134

Dixfield28 Main Street 207.562.4661

Dover-Foxcroft160 East Main Street 207.564.3311

East Millinocket87 Main Street 207.746.3770

Eastport54 Washington Street 207.853.2534

Ellsworth59 Foster Street 207.667.4626

Falmouth215 US Route 1 Opening 2011

Farmington177 Main Street 207.779.1899

644 Wilton Road 207.778.0757

Greenville31 Lily Bay Road 207.695.3713

Hampden19 Main Road North 207.862.5112

HartlandWarren Square 207.938.2775

Hollis366 Hollis Road 207.929.8009

Houlton38 Court Street 207.532.4001

Howland22 Main Street 207.732.5716

Jonesport175 Main Street 207.497.2320

Lewiston882 Lisbon Street 207.782.2133

Lincoln4 Prospect Avenue 207.794.6765

Machias1 Center Street 207.255.4522

Madison56 Main Street 207.696.1002

Millinocket96 Central Street 207.723.4788

Monmouth787 Main Street 207.933.5794

Old Town564 Stillwater Avenue 207.827.9244

Orono110 Park Street 207.866.5596

Pittsfield108 Somerset Plaza 207.487.4395

Portland 1048 Brighton Avenue 207.871.8368

280 Fore Street 207.879.2652

883 Forest Avenue 207.541.2740 Opening July 2010

180 Middle Street 207.541.2730 Opening July 2010

320 Allen Avenue/Northgate Opening 2011

Rockland73 Camden Street 207.593.0308

Rumford118 Congress Street 207.364.8122

Saco270 Main Street 207.282.9210

Scarborough241 US Route 1 207.883.8404

Searsport17 Main Street 207.548.6065

Skowhegan113 Madison Avenue 207.474.8116

South Portland180 Waterman Drive 207.767.0814

Unity Bangor Road 207.948.5120

Waterville366 Main Street 207.861.8931

Winslow78 China Road 207.872.8011

York2 Moulton Lane 207.363.0731

Financial ServicesTrust and investment services available at all business locations.

Bangor Insurance Services99 Franklin Street Bangor 207.990.6414 800.350.5502

Bangor Payroll99 Franklin Street Bangor 207.942.3300

280 Fore Street Portland 207.842.9011

Corporate Office99 Franklin Street Bangor 207.942.5211

The Bangor Savings Bank Foundation99 Franklin Street Bangor 207.942.5211

We appreciate your comments about our Annual Report and our Bank. Please email us at CustomerCare@bangor.com or call 1.877.Bangor1 (1.877.226.4671).

Insurance and investment products are not FDIC insured and are not obligations of or guaranteed by Bangor Savings Bank. Investment products are subject to investment risk, including possible loss of principal.

EQUAL OPPORTUNITY Bangor Savings Bank provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, or status as a Vietnam-era or special disabled

veteran in accordance with applicable federal laws.

Member Federal Home Loan Bank System Equal Housing Lender

Bangor Bancorp, MHC parent of