AssetsCash and Due from BanksUS Government and Agency SecuritiesOther SecuritiesFederal Funds SoldTotal Loans, Net of Allowance for Loan LossesBank Premises and Fixed AssetsOther AssetsTOTAL ASSETS

Liabilities and SurplusTotal DepositsRepurchase AgreementsFederal Home Loan Bank BorrowingsOther LiabilitiesTotal LiabilitiesTotal CapitalTOTAL LIABILITIES AND SURPLUS

$582,579,352—

189,280,8798,012,364

779,872,59598,501,828

$878,374,423

12/31/16$11,357,982

83,637,06635,694,194

2,956,000707,482,016

15,775,10021,472,065

$878,374,423

Consolidated Report of Condition(Unaudited)

205,000

26,308,9657,777,914

25,325,727

8,761,152713,005

2,885,000$6,589,157

Provision for Loan LossesNET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSESOther Operating IncomeOther Operating ExpenseNET INCOME BEFORE NET SECURITIES GAINS AND INCOME TAXESNet Securities GainsIncome Taxes ExpenseNET INCOME

2016$31,012,941

2,895,20833,908,149

4,332,8367,686

3,053,6627,394,184

26,513,965

Year ending December 31Interest on LoansDividends and Interest on Securities and Federal FundsTOTAL INTEREST INCOMEInterest on DepositsInterest on Repurchase AgreementsInterest on Federal Home Loan Bank BorrowingsTOTAL INTEREST EXPENSENET INTEREST INCOME

Consolidated Report of Income (Unaudited)

$561,885,6553,503,547

196,897,7657,990,615

770,277,58291,427,515

$861,705,097

12/31/15$7,585,38488,602,09931,660,188

3,217,025692,857,632

15,389,81322,392,956

$861,705,097

300,000

25,523,6387,271,885

24,761,052

8,034,471653,910

2,605,000$6,083,381

2015$30,388,330

2,788,77433,177,104

4,111,4188,995

3,233,0537,353,466

25,823,638

Saco & Biddeford SavingsInstitution and Subsidiaries

O�cersFrancine A. Anton • VP, Loan OfficerStephanie J. Bailey • Customer Relationship OfficerBrian T. Ballute • VP, Assistant TreasurerLynne M. Belanger • VP, Branch ManagerMelissa M. Boilard • AVP, Human Resources GeneralistKenda R. Bouffard • Retail Loan Processing SupervisorLisa L. Bowdler • Business Loans Project AdministratorKari B. Brawn • Branch SupervisorBeth A. Caron • AVP, Compliance SpecialistWanda M. Chelate • Retail Loan Closing SupervisorBryan J. Christoforo • VP, Business Loan Officer IIHeather D. Clark • VP, Marketing Manager�eresa M. Cloutier • Teller SupervisorKelly A. Currier • Customer Relationship OfficerJulie A. Cyr • Information Services SpecialistMatthew A. Cyr • SVP, Senior Financial Advisor/Program ManagerDennis M. Dalton • AVP, Loan OfficerPatrick S. DeCourcey • VP, Loan OfficerKatrina M. Desjardins • Customer Relationship OfficerAlison H. DiCarlo • AVP, Learning & Development ManagerEric G. Doyon • VP, Business Credit Department ManagerLynn M. Duranceau-Tilley • VP, Retail Loan Underwriting ManagerDiane M. Dutremble • Collections OfficerTroy A. Ellsmore • SVP, Director of Risk ManagementPhilip D. Fearon • SVP, Director of Business Loans & ServicesMarc R. Gagnon • EVP, Chief Credit Risk & Marketing OfficerSandra S. Golash • AVP, Loan Operations SpecialistSarah A. Gonneville • Assistant Branch ManagerDavid A. Goyet • SVP, Collection Manager/Loan & Bus Dev OfcAllison L. Graham • AVP, Branch Administration OfficerTimothy E. Grant • Branch SupervisorAndrew P. Grantham • Core Operations SpecialistGinger D. Grantham • VP, Loan Operations/Projects AdministratorMatthew A. Grenier • Assistant Branch ManagerMark R. Hodgdon • AVP, Digital Banking ManagerDebra A. Houle • Customer Relationship OfficerJudith A. Hurrell • VP, Loan Review OfficerMichael L. Jean • VP, Business Loan Officer IWayne P. Johnson • Loan OfficerDavid A. Jones • Network Support SpecialistMark H. Jones • SVP, Director of Residential & Consumer LendingWilliam S. Kany • SVP, Director of Legal & Governmental AffairsDiane M. Labrie • SVP, Director of Human ResourcesKaryn M. Labrie • Deposit Support OfficerDawn M. Lambert • VP, Branch Manager Customer CareCarolyn L. Lamontagne • VP, Branch ManagerMarc A. Lamontagne • AVP, Loan OfficerAnthony M. LeBlanc • VP, Compliance ManagerMelanie J. Lee • VP, Branch ManagerDeAnn E. Lewis • VP, General Bank AuditorRonald E. Lincoln • Senior Network Support SpecialistJulie A. LoPresti • Sr. Digital Banking Spec/ACH CoordinatorLouis J. McAuliffe • VP, Facilities/Security ManagerJennifer L. McCallum • Q C Specialist - LoansBetty M. McGovern • AVP, Assistant Branch ManagerDenise A. McIntyre • AVP, Loan OfficerBonnie B. Miller • AVP, Wire Operations ManagerJudith A. Milliard • VP, Payment Operations & Information Services ManagerJohn P. Mondor • Marketing OfficerAmy M. Moore • Senior Network Support SpecialistStephanie M. Paquet • VP, Deposit Support ManagerJennifer L. Plourde • VP, Branch ManagerMichelle L. Prejean • Retail Loan Underwriting OfficerRobert C. Quentin • President, CFO & TreasurerJoe G. Reardon • AVP, Assistant Branch ManagerJeffrey W. Roberts • VP, Network/Telecommunications ManagerTodd J. Rodriguez • VP, Core Operations ManagerKevin P. Savage • Chief Executive OfficerMary A. Sawtelle • Payroll ManagerMary Jane Sawyer • Assistant Branch ManagerDouglas M. Sinclair • AVP, Assistant AuditorJeffrey R. St.Laurent • VP, Loan OfficerJay S. Tilley • SVP, Director of OperationsGary B. Trempe • Financial AdvisorDeborah A. Upson • VP, Financial Operations ManagerJeffrey M. Vachon • SVP, Director of Bank AdministrationKathleen A. Verrill • VP, Project ManagerJulie M. Villemaire • VP, Branch ManagerRebecca C. Waitley • Customer Relationship OfficerJena M. Walton • Retail Loan Servicing SupervisorShawn C. Walton • AVP, Assistant Branch ManagerJames M. Whelan • VP, Business Loan Officer IIKathy C. Whitten • VP, Manager of Retail Loan AdministrationKathleen L. Williamson • Customer Relationship OfficerWanda T. Wilson • Customer Relationship OfficerBernice E. Wood • VP, Business Development Officer

Board of Directors

Letter from the ChairRoger S. Elliott A. William Kany, Jr. John H. O’Neil David H. Howe

Saco & Biddeford Savings continued its great performance in 2016 by having earnings greater than the record level of 2015. �e yield curve environment was favorable for the bank and P&C Insurance1 had a very strong year. �is run of strong performance has had a solid impact on the capital level of the Bank. �e Bank continues to be quite strong and well positioned for continued growth to serve the community and remain an independent mutual savings institution.

�e Board of Directors and Senior Management began implementing succession plans in 2016 for several key positions. �is will continue over the next several years. We believe that we have the capable talent in-house to carry on the culture and values of this institution going forward.

As I have stated in the past, I am very proud and pleased to be working with SBSI and all of the employees who have contributed to making an even stronger institution in 2016, while maintaining and growing the service culture of being there for our customers and our communities.

Robert F. WadeChairman of the Board

Front, L to R: Susan B. Hadiaris, Joan R. Fink, Mark L. PetersonBack, L to R: Roland M. Eon, Kevin P. Savage, Eric A. Purvis, Robert F. Wade (Chair)

Honorary Directors

CorporatorsDavid S. AbramsonDonald J. BalluteDaniel E. BlaneyLorraine P. BouchardLeo E. BourgeaultLucien A. ChantignyKerry T. Connell, O.D.Stacey J. CoteNancy E. CrowellRobert E. DanielsonRobert L. DemersMary E. DonovanBarbara J. DresserTroy A. Ellsmore

Bryce W. IngrahamPierre J. JanelleEverett F. Johnson, Jr.Mark H. JonesWilliam S. KanyDemitroula KouzounasCarolyn L. LamontagneValerie R. LandryKaren B. LovellGary L. MarstonRene M. MenardPamela J. MohlinTimothy S. MurphyMichael A. Myrick

James T. PateMark L. PetersonEric A. PurvisRobert C. QuentinJeffrey M. QuirkWilliam D. SanfordKevin P. SavageDonald W. SharlandRobert F. WadeDaniel R. WarrenMark L. Yellis

Roland M. EonPhilip D. FearonJoan R. FinkMorris FisherMarc R. GagnonJoshua D. HadiarisSusan B. HadiarisJames E. HarmonElizabeth HewesLinwood M. HigginsDavid H. HoweKristine L. HoytDiana L. HuotLeonard C. Hurrell

Frederick J. Ahearn, IIIGerald F. ApplebeeAlfred CoulombePhilip B. CurtisRoger S. ElliottShirley D. Hondel

Honorary CorporatorsNancy RumeryVeronica M. SheehanGene C. �ompsonErwin C. WarrenLeroy I. Waycott

John H. O'NeilWinslow S. PillsburySarah-Jane PoliEdward D. Radley, Jr.Wayne Ross

John C. HoytAdelbert M. Jakeman, Jr.William JohnsonA. William Kany, Jr.Virginia B. Moody

P&C Insurance O�cersDaniel D. Cote • VP, Employee BenefitsJoshua D. Fearon • PresidentAndrea K. Todd • VP, Commercial LinesLynn M. Vigneault • VP, Personal LinesDouglas A. Willett • VP, Commercial Lines

Join us on Social Media!Follow the Saco & Biddeford Savings Facebook, Twitter, and LinkedIn pages to see what is happening in our communities!

Brad Paul

Alicia Danielson

Wallace Nutting

Kaylee Roy

Annual ReportD E C E M B E R 3 1 , 2 0 1 6

MEMBERFDIC

Governor JohnFairfield School

Southern MaineAgency on Aging

Habitat forHumanity

STRIVE Community Support Services

Letter from KevinWow! It is wonderful to report that 2016 was another highly successful year for Saco & Biddeford Savings. �is is particularly pleasing to me, as I will be retiring at the end of May but continuing on as a member of the Board of Directors. �e statistics of strong growth in our core business of providing deposit services and making home and business loans in our communities only tell part of the story. We are proud of the fact that more and more customers turn to us for all of their financial needs. Critical components of that are the services provided by P&C Insurance1 and S&B Financial Services.2 P&C1 again contributed over $500,000 to our record net income, while S&B Financial Services2 continued to expand its customer base.

With this being my final report, I must convey a few numbers. Net Income exceeded $6.5 million, our third consecutive record year. Customer deposits grew over $25 million and loans outstanding increased by $14 million. Total assets now exceed $878 million! Meanwhile, we donated over $400,000 to causes in our communities.

And the success runs well beyond the numbers. Many customers enjoy new services, such as Apple Pay, Google Pay and Samsung Pay. We are also in the process of opening a Business Banking office on Commercial Street in Portland in the spring of 2017.

I look to the future of the Bank with great confidence, supported by a dedicated and knowledgeable team of employees, Corporators and Board of Directors. �ey, along with our loyal customers, have made me extremely proud to be a part of the Saco & Biddeford Savings family.

Community Involvement

Kevin P. Savage, CEO and Robert C. Quentin, President, CFO & Treasurer

1Insurance products and services offered by P&C Insurance are:

2Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with Saco & Biddeford Savings Institution where investment services are offered. Investments are:

Not FDIC Insured No Bank Guarantee May Lose Value

Not FDIC Insured No Bank Guarantee May Lose Value

Kevin P. SavageCEO

www.sbsavings.bank1-877-SACO-BID (722-6243) • 207-284-4591

United WayDay of Caring

OPERATIONS CENTER50 Industrial Park Road, Saco

OLD ORCHARD BEACH2 Portland Avenue

SCARBOROUGH41 Gorham Road

SOUTH PORTLAND601 Broadway, (Millcreek)

WESTBROOK2 Hannaford Drive

BIDDEFORD160 Shops Way, (Rte 111)

SACO252 Main Street

New Location: PORTLANDBusiness Banking Office

136 Commercial Street