Bangor Savings Bank has entered an agreement to acquire Damariscotta Bank & Trust Co., the parent companies of the financial institutions announced on December 17. 

The acquisition, valued at $35 million, will give Bangor Savings Bank new branches in Damariscotta, New Harbor, Union and Warren, filling in a stretch of the midcoast BSB had not previously served. BSB will also pick up a branch in Belfast, where it has two branches today, including one, in Renys Plaza, that shares a parking lot with DB&T. 

BSB spokesperson Kate Rush said the Renys Plaza branches are likely to be combined into a single location after the sale, pending a review of financial regulations.

The institutions anticipate completing the sale in the second quarter of 2020, at which time Bangor Savings Bank is expected to have $4.8 billion in assets and more than 60 branch offices in Maine and New Hampshire.