Savings bank

Franklin Savings Bank Chairman retires and former Chairman takes office

From left to right, Peter Judkins and Richard Walker. Submitted photo

FARMINGTON – Richard Walker has announced his retirement as Chairman of the Board of Franklin Savings Bank. Walker, who was elected president in 2017, has served on the board since 1991.

“It has been a real pleasure to serve on the board of directors of Franklin Savings Bank,” said Walker. “Being elected chairman of the board has been an honor. “

Former Bank chairman Peter Judkins of Farmington was elected by the board of directors to assume the chairmanship of the board in January 2022.

“Franklin Savings Bank is a pillar in the communities we serve. We are very happy to help our neighbors succeed and realize their financial visions, ”said Walker. “It’s bittersweet to step down from this influential board of directors, but I have no doubts that Peter will ensure a smooth transition. “

“Rick has been a strong leader as Chairman and after serving on the Board of Directors for 30 years he knows the ins and outs of Franklin Savings Bank and he will be missed on the Board of Directors,” said the Chairman and CEO Tim Thompson.

Walker recently sold his accounting, auditing, tax and consulting firm and home in Rangeley and moved to the coast of Maine with his wife, Anne.

In 2017, Judkins retired as President and CEO of the Bank and continued to serve on the Bank’s Board of Directors. Judkins was President and Chief Executive Officer for twelve years.

“Franklin Savings Bank is near and dear to my heart, as well as the Maine communities that the bank serves,” Judkins said. “Franklin Savings Bank’s mission is something I take very seriously and look forward to ensuring that it continues to be a strong and independent community bank for generations to come. “

Judkins has extensive experience in the financial industry, most notably as a member of the board of directors of the Federal Reserve Bank of Boston, where he was chairman of the audit committee. Judkins also sits on the board of directors of the Franklin Community Health Network.

Former Bank President and CEO Gary Downs is also stepping down from the Bank’s board of directors. Downs retired from the bank as President and CEO in 2005. He served an additional 16 years as President of the Mutual Holding Company and will always be an integral part of Franklin Savings Bank’s historic success.

“I am proud of the work we have accomplished and the success the bank has had and continues to have. The bank would not be what it is today without the engaged employees who have always shown themselves alive on a daily basis, living the values ​​of the FSB and breathing the culture of the FSB, ”said Downs. “FSB’s workforce and workplace are unique and very special. “

Downs resides half the year in Bonita Springs, Florida and the other half on Lake Industry, Maine, with his wife Jean.

Franklin Savings Bank is a community bank founded in 1868 that serves western, central and lower eastern Maine from eight locations.

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