Franklin Savings Bank chairman Richard Walker has retired and the board has appointed a former chairman of the bank, Peter Judkins, to succeed him.
Walker was elected president in 2017 and has been a member of the board of directors since 1991 of the Community Bank, which is headquartered in Farmington and has seven branches.
Walker recently sold his accounting and consulting firm and home in Rangeley and moved to the coast of Maine with his wife Anne.
“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, ”he said in a press release. “It’s bittersweet to step down from this influential board of directors, but I have no doubts that Peter will ensure a smooth transition. “
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.
In 2017, Judkins retired as President and CEO of Franklin Savings Bank, a position he held for 12 years. He continued to serve on the board of directors.
“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. “
The bank’s former president and CEO, Gary Downs, is also stepping down from the bank’s board. He retired from these positions in 2005, then served for 16 years as chairman of the mutual holding company.
“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 committed employees who have always shown themselves alive on a daily basis by upholding the values of the FSB and exuding the culture of the FSB, ”said Downs. “FSB’s workforce and workplace are unique and very special. “
Franklin Savings Bank reported assets of $ 490 million in 20202.