Skowhegan Savings reports strong financial standing at 153rd annual meeting
SKOWHEGAN — Skowhegan Savings held its 153rd annual corporators meeting last week reporting assets of $775 million, after originating 1,600 loans for $134 million in 2022.
“The bank maintained its strong capital position in 2022,” David Cyr, president and CEO, said as he addressed those in attendance.
“I also want to acknowledge our long-term legacy and financial strength, which is due to many boards and management teams that have always been focused on community and fiscal responsibility, combined with generations of customers we think of as family.”
The bank also donated over $350,000 to local organizations, employees put in over 2,000 volunteer service hours, participated in more than 150 community events and was named one of Maine’s Best Places to Work.
“At Skowhegan Savings, it is our mission to make our communities a better place to live and work and our mutual form of ownership allows us to prioritize stability and customer service, so that we can put our attention first on what a local bank should – the safekeeping of deposits, helping customers buy homes, cars, grow their businesses and help strengthen our communities by getting involved,” stated Cyr.