Peter Judkins retiring from Franklin Savings Bank at the end of the year

FARMINGTON – Franklin Savings Bank has announced the retirement of President and CEO Peter Judkins at the end of this year. Executive Vice President and Chief Operating Officer Tim Thompson has been chosen as his successor.

Judkins has been president and CEO at Franklin Savings Bank since 2005. He will continue to serve on the bank’s Board of Directors.

“Joining this bank has proven to be a wonderful decision,” Judkins said. “My family and I were given an opportunity to return to a community that has always been a big part of our lives and I was given an opportunity to work for and lead a tremendous organization.”

The bank invites the community to an open house in Judkins’ honor, at 5 p.m. on Dec. 12. The open house will be held at the Main Office, 197 Main Street in Farmington.

Thompson joined the bank in 2000, and has been responsible for finance, operations, and technology as well as other administrative duties. He was promoted to executive vice president and chief operating officer in 2015.

“Tim is an excellent choice to succeed me as President of our hometown bank,” Judkins said. “His roots are in Franklin County and his passion for our communities and the bank will ensure our continued community involvement. Tim has been a partner in running the bank for many years. With his strong knowledge of our operations and his continuous quest to change and evolve to meet our customer needs, I am confident in the bank’s continued success under his leadership.”

“In 2018 Franklin Savings Bank will be celebrating 150 years of success through superior service to our customers and communities. There is a significant responsibility to upholding this legacy. The employees of Franklin Savings Bank are all dedicated to this mission and exceptional in their performance,” Thompson said.

Judkins has long been the face of the Franklin Savings Bank Community Development Foundation, which contributes hundreds of thousands of dollars to local charitable and community projects in Western Maine.

“I’m fortunate to have been in a position to share the bank’s financial resources and to lead an organization that has a long-running history of giving back to the communities that we serve,” said Judkins.

“Through the jobs created by the bank, the volunteer hours and donations the employees give along with the Bank’s charitable donations, Franklin Savings Bank has a substantial economic effect on our communities. One of the many reasons our customers choose to bank with Franklin Savings Bank is that they want to support the bank that supports their communities,” said Thompson.

While at Franklin Savings Bank, Judkins had been actively involved on the Board of many civic and non-profit organizations, such as the Maine State Housing Authority, the Greater Franklin Development Corporation, the University of Maine at Farmington Board of Visitors, and the Ski Museum of Maine. Judkins has also been very involved with the Farmington Ski Club, serving for many years on its Board of Directors and as a Past President.

Currently, he is on the Board of Directors for the Federal Reserve Bank of Boston where he is also Chairman of the Audit Committee. He is also on the Board of the Franklin Community Health Network and a member of the ABA Community Bankers Council. He served as the chairman of the Maine Bankers’ Association in 2011.

Peter and his wife Lisa, also a Farmington native, are the parents of two grown children, Tyler and Heidi, and have two granddaughters and a grandson.

Thompson grew up in Kingfield and is a Mt. Abram High School graduate. He earned a Bachelor of Science in Business Administration from the University of Maine and a Master of Business Administration from Thomas College. He is also a graduate of the National School of Banking.

Thompson is active in the community and he is currently serving on the Board of Directors for The Pierce House, the Farmington Rotary Club, and the Greater Franklin Development Council. Thompson and his wife Lisa, have lived in Farmington for many years and have two grown children.

Franklin Savings Bank is a community bank serving Western and Central Maine since 1868 and has recently opened a Business Center in Ellsworth.