[Congressional Record Volume 164, Number 144 (Tuesday, August 28, 2018)]
[Senate]
[Page S5990]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               150TH ANNIVERSARY OF FRANKLIN SAVINGS BANK

 Mr. KING. Mr. President, today I wish to recognize the 150th 
anniversary of Franklin Savings Bank, one of the oldest and most 
successful business in Franklin County and the only locally owned bank 
in Franklin County. Today the bank has eight locations across western 
and central Maine, including a commercial lending center in Ellsworth.
  Founded on February 24, 1868, when Governor Joshua Chamberlain signed 
a bill into law incorporating the bank, the bank's early mission was 
``to help the people of Franklin County lay by something each year and 
deposit in some good bank where it will be safe and earn a little 
something.'' At the beginning, President Joseph Fairbanks said that 
they preferred the small accounts of children, which would be added to 
little by little over time, over the large account of a rich man. Times 
have changed since then, with the bank now serving four Maine counties 
with eight locations, but their dedication to customer service has not 
waivered. Over the past 150 years, Franklin Savings Bank has shifted 
from focusing on individual savings accounts to now also offering home 
mortgage lending and commercial lending. Online banking services were 
added to Franklin Savings Bank in 2001 and have only increased, today 
offering customers the ability to deposit, complete transactions, and 
pay bills all from the convenience of their cellphone.
  Franklin Savings Bank is not only committed to its customers, but 
also to its neighbors in the communities it serves. In 2000, the board 
of directors established the Franklin Savings Bank Community 
Development Foundation. This is a not-for-profit foundation that 
supports the community, economic, and educational needs within areas 
served by the bank. Over the first 15 years, the foundation has 
contributed $2 million to local economic development, education, and 
various charities.
  Amidst the mortgage crisis of 2008, Franklin Savings Bank continued 
to be a safe and trusted place for the people of Maine to keep their 
money. Franklin Savings Bank was named the Strongest Bank in Maine for 
19 years and, during the mortgage crisis, the strongest bank in New 
England. Today Franklin Savings Bank is consistently ranked as one of 
the safest banks in the country. Their mission is to continue to be a 
financially strong and independent community bank, and I look forward 
to seeing their continued growth and impact on the State of Maine. I 
join with their customers in congratulating Franklin Savings Bank on 
150 years of leadership in western Maine.

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