Skowhegan Savings Holds 140th Annual Meeting;
Elects New Corporators
HINCKLEY, Maine – Skowhegan Savings held its 140th annual Corporators' meeting on March 18, 2010 at the Good Will-Hinckley School in Hinckley, Maine. The Bank holds a yearly meeting to elect the Board of Directors and to report on the financial performance of the Bank.
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President and CEO John Witherspoon speaks at Skowhegan Savings' annual meeting. |
John Witherspoon, president and CEO of the Bank, reported that the overall financial strength of the Bank grew this year, with capital at $58.3 million - the most in the institution's 140-year history. Deposits also grew by over $6.50 million and the commercial loan portfolio grew by 20 percent.
"It is this capital foundation that allows us to continue our commitment to our communities by reinvesting in our businesses and citizens," noted Witherspoon. "As other banks were restricting credit and customers became wary of national financial companies, we were able to leverage our financial strength and welcome new customers to Skowhegan Savings."
During the annual meeting, seven new Corporators were also elected: Doreen Poulin of Skowhegan, Calvin Ames of Skowhegan, Jason Brochu of Dover Foxcroft, Robert Browne of Vassalboro, Reginald Perry of Clinton, Raymond Haskell of Oakland, and Ted McCarthy of Belgrade.
Re-elected to the Board of Directors were Howard E. Sevey and Claire M. Theriault-Perkins. Remaining on the Board are Richard M. Anzelc, Jr., Roger R. Gifford, John C. Witherspoon, Warren Shay, and James R. Austin.
Editor's Note:
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About Skowhegan Savings:
Skowhegan Savings, founded in 1869, is an independent mutual savings bank dedicated to strengthening the Maine families, businesses and communities it serves. Named as one of Maine's Best Places to Work in 2009, Skowhegan Savings' team of friendly, committed employees takes pride in delivering personalized, competitive banking services with integrity and putting the needs of their customers first. An innovative and progressive approach to banking ensures their customers enjoy a banking experience that is quick, easy and convenient. Skowhegan Savings' nine Maine branches include two locations in Skowhegan, as well as locations in Belgrade, Bingham, Dexter, Fairfield, Madison, Norridgewock, and Pittsfield. For more information, visit www.skowsavings.com or contact Customer Service at 800.303.9511.
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