Quartararo, White, Rayder Named Senior Vice President at Banknorth

Banknorth Group, Inc., one of the country's 35 largest commercial banking companies, has promoted three key employees - John Quartararo, Michael L. Rayder Jr. and Patty White - to the position of senior vice president.

Banknorth, with $18.1 billion in assets, is the parent company of Peoples Heritage Bank, with the leading marking share in Maine, and other banking subsidiaries in New Hampshire, Massachusetts, Connecticut, Vermont and upstate New York.

The Portland, Maine-based company and its banking affiliates also operate subsidiaries in insurance (Banknorth Insurance Group), investments (Bancnorth Investment Planning Group, Inc.), a money management firm (Banknorth Investment Management Group, N.A.), and a leasing company (Banknorth Leasing). Other subsidiaries and divisions provide services in mortgage banking, asset-based lending, private banking, merchant services and other financial services.

John Quartararo has been named a senior vice president in the Government Banking Department in Portland. As a senior municipal relationship manager, he will coordinate the management of major state and municipal banking relationships for Banknorth Group and its affiliate banks in six states.

Quartararo joined Peoples Heritage Bank, a Banknorth subsidiary, in 1995 and has six years in banking. He previously served as vice president. He also has served as the finance director and treasurer for the cities of Bangor and Saco.

A resident of Alfred, Quartararo is a member of the board of directors for the Visiting Nurse Association and Hospice in South Portland. He is a 1979 graduate of Nasson College in Springvale and has completed coursework toward a master's degree in public administration from the University of Maine.

Michael L. Rayder Jr. has been named a senior vice president in the Finance Department in Portland. He will continue to focus on planning, profitability and performance management, including the bank's capital and operating budget.

Rayder joined Banknorth in 2000 and has 19 years in banking. He previously served as a vice president. In addition, he has served as an administrative vice president and a vice president for a trust company in Buffalo, N.Y., and as a financial officer for a Buffalo-based bank.

A resident of Falmouth, Rayder serves as the treasurer of Greater Portland Landmarks. He received an MBA in 1983 from Duke University in Durham, N.C., and a bachelor's degree in 1981 from Williams College in Williamstown, Mass.

Patty White has been promoted to senior vice president in the Marketing Department in Portland. She will continue to be responsible for the development of strategic marketing plans for business lines in all markets for Banknorth, as well as oversee the marketing budget, the client service group and the company's cross-referral and awards programs.

White joined Banknorth in 1998 and has 18 years in banking. She has previously served as a vice president of sales and market management and a vice president of commercial marketing. In addition, White has served as the marketing director for a trust company and a federal credit union, both in Massachusetts.

A resident of Freeport, White is graduate of Lesley University in Boston and Troy State University in Troy, Ala.

For more information about Banknorth, visit the company online at http://www.banknorth.com.

# # #