Judkins elected to Fed Reserve Board


FARMINGTON — Peter L. Judkins has been elected as a Class A director of the Federal Reserve Bank of Boston. Judkins is president and CEO of Franklin Savings Bank, a mutual savings bank headquartered in Farmington.

According to the Federal Reserve, the First Federal Reserve District comprises all of New England except Fairfield County, Conn. The Federal Reserve Act requires that each Reserve Bank has nine directors. Three Class A directors represent member banks in the district; three Class B directors and three Class C directors are selected with due consideration to the interests of agriculture, commerce, industry, services, labor and consumers. The member banks elect Class A and Class B directors. The Board of Governors of the Federal Reserve System in Washington, D.C., appoints Class C directors.

Judkins is currently the chairman of the Maine Bankers Association and most recently was a member of the Federal Reserve Bank of Boston’s Community Depository Institutions Advisory Council.

Prior to returning to his hometown to join the bank in August of 1999, Judkins held various sales and sales management positions during a 15-year period with American Express and Citicorp. Prior to American Express and Citicorp, Judkins was employed by Key Bank, following his graduation from the University of Maine. In addition to a Bachelor of Science degree from the University of Maine, Judkins also earned an associate degree in banking from Thomas College and is a graduate of the National School of Banking at Fairfield University.

Franklin Savings Bank has branch offices in Skowhegan, Rumford, Mexico, Jay, Wilton and Rangeley, as well as a teaching branch at Mt. Blue High School.

Judkins and his wife have two grown children.