Banking & Commercial Finance

Practice Overview

Drummond Woodsum’s banking and commercial finance attorneys are skilled, experienced, practical, and understand the balance between zealous representation of client interests and getting a transaction closed. Understanding our clients’ needs and goals is key to our effective representation in banking and commercial finance matters, whether representing lenders or borrowers.

We represent large and small lenders throughout New England, and serve as special Maine and New Hampshire counsel to national and international lenders on banking, commercial and project finance issues involving Maine and New Hampshire borrowers and collateral in multistate financings. We represent lenders in a wide variety of secured and unsecured loans involving single and multiple borrowers, including asset-based loans, real estate loans, construction loans, cash flow and mezzanine financing, aircraft and vessel financing, equipment lease financing, project finance, letters of credit, acquisition financing, tax increment financing, credit enhancement agreements, tax credits of all kinds and other complex commercial finance matters. We are frequently involved in syndications and loan participations, as well as associated agency, intercreditor and subordination issues, and a whole range of other banking and commercial finance areas. We have substantial experience representing lenders financing company conversions to employee ownership using Employee Stock Ownership Plans (ESOPs). We also regularly represent borrowers in a wide range of commercial lending transactions.

We have substantial experience with transactions involving SBA and SBA-guaranteed loans, HUD, Fannie Mae and Freddie Mac insured loans, and loans in which our lender clients are partnering with other public and private funding sources, including the Finance Authority of Maine and Farm Credit.

We represent Maine and federally-chartered institutions in bank regulatory and corporate matters and serve as outside general counsel to a number of financial institutions. Our attorneys work closely with financial institutions and state and federal regulators on a range of issues, including mergers and acquisitions, joint ventures, formation of subsidiaries and the provision of insurance, securities and compliance services, and preparation of applications, agreements, disclosure and other materials for regulators.

We assist our lender clients with collections and creditors’ rights matters, including foreclosures, workouts and matters in bankruptcy. We recognize that workout transactions sometimes involve a careful balance in order to preserve the relationship with valued bank customers and credit union members, and our lawyers can be counted on to handle workout transactions with an appropriate demeanor.

Drummond Woodsum also serves as bond counsel, issuer’s counsel, and tax counsel on behalf of municipalities, school districts, and other governmental entities throughout Maine and New Hampshire in governmental financing transactions. Drummond Woodsum is listed in the Red Book of municipal bond attorneys and is approved as bond counsel by the Maine Municipal Bond Bank and New Hampshire Municipal Bond Bank. We also advise our public sector clients in the areas of school and municipal finance, including local budget authorization, tax assessment, education funding, reorganization, employee benefits, public bidding and procurement. We have extensive experience representing the public owner in all aspects of construction projects. Learn more about our Public Finance practice.

The firm also has represented several Maine colleges in connection with bond issuances and other debt financings.

Representative Clients

Androscoggin Bank
Atlantic Federal Credit Union
Bangor Savings
Bank of America
Bank of New Hampshire
Bar Harbor Bank & Trust
Biddeford Savings
Camden National Bank
Casco Credit Union
Citizens Banks
First Federal Savings
Gorham Savings
Infinity Credit Union
Katahdin Trust Company
Kennebec Savings
Kennebunk Savings
Machias Savings Bank
NBT Bank
Norway Savings
Partners Bank
Skowhegan Savings Bank
TD Bank, N.A.
Town & Country Federal Credit Union
TruChoice Federal Credit Union

Practice Group Leader

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