Skowhegan Savings Bank Holds 139th Annual Meeting
SKOWHEGAN, Maine – On March 5th, 2009, Skowhegan Savings Bank held its 139th annual corporators
meeting 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.
John Witherspoon, president and CEO of the bank, was pleased to report that the operating earnings for the
bank more than doubled in 2008. Total assets of the bank grew by nearly $50 million to $438 million and the
bank's capital grew to $55 million, which at 12.69 percent of the bank's assets is more than twice the regulatory
requirement for a well capitalized bank.
"Our financial success is based on our principle of integrity; we strive to meet the needs of our customers and
provide products and services that are in their best interest," said Witherspoon. "I feel confident that Skowhegan
Savings is fully prepared to meet our customers' needs in the year ahead."
During the annual meeting, five new corporators were also elected: David Cyr, E.V.P. of Skowhegan Savings;
Van Ames, owner of Whittemore’s Real Estate; Carla Witham, owner of Beta Business Services in Dexter;
Richard Willett, CEO of Redington Fairview Hospital in Skowhegan and Ralph Gabarro, CEO of Mayo
Regional Hospital in Dover Foxcroft.
Re-elected to the board of directors were Richard M. Anzelc, Jr., Roger R. Gifford,
John C. Witherspoon, James R. Austin, Howard E. Sevey,
and Claire M. Theriault-Perkins.
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Skowhegan Savings, founded in 1869, is an independent mutual savings bank dedicated to strengthening the
Maine families, businesses and communities it serves. Our team of friendly, committed employees takes pride
in delivering personalized, competitive banking services with integrity and putting the needs of our customers
first. An innovative and progressive approach to banking ensures our personal and business banking customers
enjoy a banking experience that is quick, easy and convenient. Our 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 our Customer Service Call Center at
800.303.9511.
