The Pearson family founded Butler Bank in 1901. The bank specializes in residential construction lending. The construction loan division is the largest division in the bank. In 2003, it established a commercial lending division to focus on commercial real estate, equipment financing and working capital financing. The bank has been awarded the Veribanc Blue Ribbon Commendation of Excellence for exceptional attention to safety, soundness and financial strength. It is headquartered in Lowell, Mass., and has three separate locations including a loan processing office in Kennebunk, Maine.