SKOWHEGAN, Maine — Skowhegan Savings Bank held its 144th annual meeting on March 19, at Margaret Chase Smith Library, with 82 people in attendance. The Bank holds a yearly meeting to elect members of the Board of Directors, new corporators, and to report on the financial performance of the institution.
John Witherspoon, president and CEO of the bank, reported that the bank had a strong year in 2013, highlighted by its expansion into Augusta and Franklin County. The bank made more than $85 million in loans throughout Central and Western Maine and grew total assets to nearly $500 million.
Witherspoon also reported that the capital levels of the bank continued to grow to close to $70 million, which far exceeds the level required by federal regulators. In his report to the corporators, Witherspoon noted that for the fifth consecutive year, Skowhegan Savings was named one of the Best Places to Work in Maine, a reflection of the Bank’s extraordinary dedication to its workforce.
Fred Haberberger, the bank’s Chief Operating Officer and SVP, gave a presentation on a variety of technologies available to bank customers, several of which had been implemented at Skowhegan Savings.
“We continue to make strategic investments in technology to complement our personalized, straight talk, fair deal approach to banking,” Witherspoon said, in a press release.
New corporators elected at the meeting were: Paul Fortin of Madison, Robert Luce of Carrabasset Valley, Lawrence Koob of Oquossoc, Rhonda Wiles of Farmington, Nancy Bessey of Rangeley, and Kimberley Jordon of Kingfield. In addition, James Austin and Warren Shay were re-elected to serve on the Board of Directors along with Roger Gifford, Howard Sevey, Richard Anzelc Jr., Claire Theriault-Perkins, and John Witherspoon.