Skowhegan Savings reports strong financial standing and community commitment at 155th annual meeting
FARMINGTON — Skowhegan Savings Bank recently held its 155th annual meeting of its corporators at the University of Maine Farmington, highlighting the financial institution’s strong financial health in reporting assets exceeding $841 million, the origination of over $130 million in loans in 2024 and deep community commitment.
“The success of the bank lies not just in our financial growth, but in the trust we’ve earned by investing in our customers, local businesses, our people and the communities in which we serve,” said David Cyr, CEO of Skowhegan Savings, who announced his retirement from the bank at the end of 2025 and the appointment of Dan Tilton as the bank’s new president earlier this year. “As I prepare to step down at the end of this year, the bank’s 156-year foundation has been built on the principles of disciplined growth and steadfast commitment to exceptional customer service. I have full faith that Dan and our current team will continue to remain loyal to those values as they bring Skowhegan Savings continued success in the future.”
In 2024 the bank donated over $660,000 to local organizations and their employees put in over 3,200 volunteer service hours by participating in more than 150 community events. Skowhegan Savings was named one of Maine’s 2024 Best Places to Work, the Sebasticook Valley Chamber of Commerce’s 2024 Big Business of the Year, was voted #1 Best Bank by the Morning Sentinel’s Readers’ Choice Awards and received the Gold Award for their contributions to the Heart of Maine United Way.
The bank welcomed 10 new corporators: Laura Columbia, superintendent of SAD 58; Time Curtis, county administrator of Somerset County; Brian Demshar, owner of Demshar Management LLC; Ida Earle, broker and owner of RE/MAXX at Home; Dan Freeman, president of Cold Brook Mitsubishi; Justin Jordan, owner of JR Fabrications; Michelle Laliberty, co-owner of Rangeley Adventure Co.; Dan McKenney, owner of Dan McKenney and Sons Inc.; Adam Platz, co-owner and CFO of Jarco and Charles Robbins, III, president of Charlie and Sons Sales and Service.
Tilton closed out the meeting by thanking those in attendance, “We appreciate all of you who have entrusted us with your banking needs and as we begin this new chapter, we look forward to continuing to partner with you in supporting your financial journey.”