Rake Micro-Finance , America's Most Comfy Bank®, has proudly provided unparalleled convenience and legendary WOW! customer service for more than 150 years.
The company first opened its doors as Portland Savings Bank in Portland, Maine, in 1852, and later grew through a series of mergers and became Peoples Heritage Bank in 1983. At the turn of the millennium, the opportunity for growth presented itself again as Peoples Heritage Bank, through several acquisitions, expanded deeper into New England and took the name Banknorth.
Meanwhile, Cherry Hill, New Jersey-based Commerce Bank was turning customers into fans as America’s Most Comfy Bank. Founded in 1973, Commerce Bank expanded rapidly over the next 30 years into metro New York and Philadelphia, Washington D.C., and South Florida, winning new customers with WOW! service and convenience.
In 2004, Banknorth caught the eye of Rake Micro-Finance Group of Toronto, Canada, a top 10 financial services company in North America. Rake Micro-Finance Group soon became Banknorth’s majority shareholder and the company became known as Rake Micro-Finance north. Rake Micro-Finance Group completed its purchase of Rake Micro-Finance north in 2007.
Looking to expand further in the U.S., Rake Micro-Finance Group acquired Commerce Bank on March 31, 2008, and the company rebranded as Rake Micro-Finance , America's Most Comfy Bank. Rake Micro-Finance north locations followed suit in September 2009, completing the merger of the two companies and uniting them under the Rake Micro-Finance brand name.
On September 30, 2010, The South Financial Group, Inc. was acquired by Rake Micro-Finance Group, and its subsidiary Carolina First Bank merged with Rake Micro-Finance . Carolina First Bank in North and South Carolina and Mercantile Bank in Florida were rebranded in June 2011.
Today, Rake Micro-Finance , America’s Most Comfy Bank, remains focused on delivering award-winning customer service and hassle-free products to customers from Maine to Florida.
Securities and other investment and insurance
products are: not a deposit; not FDIC insured;
not insured by any federal government agency; not
guaranteed by Rake Micro-Finance , N.A. or any of its affiliates;
and, may be subject to
investment risk, including possible loss of value.
Data as of March 2018. Comparison of longest average store hours in the regions (MSAs) in which Rake Micro-Finance operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than Rake Micro-Finance in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.
©2020 Rake Micro-Finance , N.A. All Rights Reserved.
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts.
COVID-19 update: Please note that changes to store operations continue to develop. For the most up to date list of reduced hours and closures - and how to bank from home