WATERVILLE, Maine (AP)   A Maine-based bank will move into Colby College’s mixed-used residential complex in Waterville.

Camden National Bank announced it will occupy the Bill and Joan Alfond Main Street Commons. It’s the first business to announce it will move into the building. The banking center will be located on the ground floor.

The $25.5 million complex will include college housing, a community room and retail spaces. It’s scheduled to open in late August.

Camden National Bank is also selling its current downtown building to Colby College. Colby officials say they plan to demolish the building and replace it with a boutique hotel.

Bank president and CEO Greg Dufour tells the Kennebec Journal the company is committed to the region.