FARMINGTON – Peter L. Judkins, President and CEO of Franklin Savings Bank, announced that Timothy J. Thompson and Andrew H. Sturtevant have been promoted to Senior Vice Presidents at the Farmington community bank.
Thompson has also been promoted to Treasurer and will serve as the bank’s Clerk. In his expanded responsibilities, Thompson, who has been responsible for bank operations, information systems and deposit services, now adds oversight of the bank’s financial and accounting areas.
For the past nine years, Franklin Savings Bank has ranked as the Strongest Bank in Maine, according to TheStreet.com, and has earned top Five-Star rankings at BauerFinancial.com for 25 years. Other bank rating organizations also give FSB top marks.
Thompson holds a bachelor’s in Business Administration from the University of Maine and a master’s in business administration from Thomas College. He is also a graduate of the National School of Banking. Tim has worked in the banking industry for 15 years, including the past eight years at Franklin Savings Bank.
“Tim has been instrumental in driving our technology needs into a new era,” said Judkins. “On the financial side of our business, Tim has worked closely with Debbie Rowe, who plans to retire early in 2009, and I expect the management transition to be smooth.”
Thompson, of Farmington, has volunteered as a coach for youth soccer, basketball and softball. He is also a member of the Maine Association of Community Banks Operations and Security Committees.
As the senior vice president, Loan Administration, Sturtevant will continue to be responsible for the general supervision of all lending-related activities, compliance, and operations on a bank-wide basis.
Andrew has been working toward his bachelor’s of science in business administration from the University of Maine at Augusta and is a graduate of the National School of Banking. He has more than 23 years of banking experience and has been with Franklin Savings Bank for five years. His banking experience includes commercial and consumer lending, branch management, and loan operations and automation.
“Under Andrew’s direction, we have realized improved efficiencies in our loan operations, moving our residential, consumer and commercial loan processes to a higher level,” said Judkins.
Sturtevant of Fayette, is a member of the MACB Commercial Loan, Retail Loan, and Collection Committees. He also serves as a board member of the Tri-Valley United Way, and as treasurer for the Genesis Community Loan Fund. Sturtevant is active at the Fayette Baptist Church, where he serves as treasurer and as a regular musician. He is a past president of the Jay-Livermore Falls Rotary Club and a past member of the Foothills Arts Board of Directors.