Banks foreclose, buy back islands

BEALS — Two Maine banks foreclosed on a pair of islands off the Washington County coast, then bought back the properties at an auction.

Peoples Heritage Bank paid $250,000 for Pomp Island, which is 37 1/2 acres, and $150,000 for one of two lots on Norton Island off Jonesport.

Key Bank of Maine paid $100,000 for another Norton Island lot, said Douglas Cox of Auction Properties Ltd., which conducted the auction in South Portland.

The two banks had foreclosed on a mortgage held by a Connecticut man.

The Beals Planning Board wrote to Attorney General James E. Tierney in July to try to stop the sale of the lots on Norton Island.

The board maintained that the lots were the site of an illegal subdivision because they are within the shoreland zone. Tierney’s office has not rendered a decision.