FISC Solutions announced Friday that the company, owned by Androscoggin Bank and Norway Savings Bank, was purchased by a management team.
The prior owners will remain FISC clients, and the company headquarters will stay at 168 Lisbon St.
Jerry Blodgett, company president and CEO, is one of four new owners. He explained the two reasons behind the “very friendly” buyout.
“The development of technology has allowed FISC to expand beyond our original sole purpose of serving financial institutions,” he said. “We have expanded our markets to also provide payment processing, printing and electronic services to governmental entities, commercial clients and nonprofit organizations throughout the United States.
“The second and most important reason is the desire to continue to be a Maine-based employer. Our senior management team takes great pride in knowing that we can continue to provide Maine jobs for our more than 75 employees who live in the greater Lewiston-Auburn communities.”
Blodgett, who was hired nearly three years ago, called the company’s workforce “very dedicated,” with a strong work ethic and focus on customers.
“There is no question that many of the markets we operate in will continue to rapidly evolve. The only way we continue to succeed is by gaining in the market share,” he said. “In addition to great customers in Maine and New England, we recently have added clients in diverse U.S. locations, such as San Francisco, Chicago, New York City, New Jersey, Montana, Pennsylvania and Alabama.”
Blodgett said his philosophy is to use a focused rather than shotgun approach in targeting clients, offering a product at which his company excels. FISC has done that by establishing a reputation for quality, providing superior service and taking care of its customers, he said.
The company has had to adjust to market forces as the banking world relies less on paper checks and more on electronic transactions, Blodgett said.
Formed in 1977 by seven banks, the company primarily provided their checking and printing services. Now, FISC offers lock box, caging, data entry, payment processing, printing and electronic delivery services to financial institutions, governmental entities, commercial clients and nonprofit organizations throughout the United States.
cwilliams@sunjournal.com
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- The FISC operations center at the corner of Lisbon and Ash Streets in downtown Lewiston.
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- FISC President and CEO Jerry Blodgett stands across from his business on Lisbon Street in Lewiston.
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- The FISC corporate office at the corner of Lisbon and Ash streets in downtown Lewiston.
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