Skowhegan Savings Donates $10,000 to Local Charities on Behalf of their 151st Annual Meeting


May 12,2021


SKOWHEGAN, MAINE - In celebration of Skowhegan Savings Bank’s 151st Annual Meeting, the bank will donate $10,000 to local charities on behalf of the 57 corporators. The five charities, one in each region that the bank serves, were selected by votes from the corporators to each receive $2,000.

Each of the following charities will receive one of these donations: Town of Dexter Food Assistance Program, the Skowhegan Community Food Cupboard, the Augusta Food Bank, FAEM Care and Share Food Bank based in Farmington and Big Brothers Big Sisters of Southern Maine.

“Big Brothers Big Sisters of Southern Maine is proud to be the recipient of this special gift from Skowhegan Savings Bank, said Nicole Avery, executive director of Big Brothers Big Sisters of Southern Maine. “These one-to-one mentoring relationships are life-changing as Bigs provide their Littles with guidance and empower them with skills to transform their lives and their communities. This donation will help support the comprehensive oversight protocols we have in place that ensure the safety and wellness of every youth in our program.”

The annual meeting, recently held virtually, also conducted its regular business meeting where Rich St. Pierre, chief financial officer of the bank, presented the bank’s financial condition reporting that despite all of the challenges in 2020, the bank far exceeded expectations for financial performance with over 2,000 loans originated exceeding $147 million, ending the year with a $4 million net profit which grew our capital base to over $100 million.

“These numbers are a true reflection of our employees’ commitment to go above and beyond for our customers,” said David Cyr, president and CEO of Skowhegan Savings Bank. “From commercial lenders working around the clock to secure COVID relief funding for businesses to community bankers assisting home borrowers after hours in a highly competitive real estate market, to frontline staff working diligently to provide a safe and sanitized environment for customers - for these reasons, we are proud to again be recognized as one of Maine’s Best Places to Work.”

St. Pierre also stated that the bank and the Skowhegan Savings Bank Foundation made over $250,000 in donations to local nonprofits, including more than $30,000 to local food programs, over $25,000 to business relief grant programs and other various nonprofits in our communities.

In other business, Sam LeGeyt and Katelynn Shorey were sworn in as new corporators of the bank. LeGeyt is an associate broker at NAI The Dunham Group based in Portland and Shorey is the director of engagement at Live + Work in Maine and the president of Startup Maine. John Witherspoon, Carolann Ouellette and Rick Anzelc were also reelected to the board for an additional three-year term.