Franklin Savings Bank tops bank rankings for 14th year

Franklin Savings Bank continues to rank as the Strongest Bank in Maine, according to rankings by Weiss Ratings, the nation’s leading independent provider of ratings and analyses of financial services companies, mutual funds and stocks. Franklin County’s only locally-owned bank has dominated the state rankings compiled by Weiss since 1999.

With an “A-” rating, Franklin Savings Bank is the only bank in Maine to receive an A grade and one of only four banks in all of New England to do so. Weiss evaluates more than 7,500 financial institutions, based on capitalization, asset quality, profitability, liquidity and stability. Only 7.3 percent of banks receive an A grade.

The biggest difference between Franklin Savings Bank and other financial institutions is the autonomy given FSB’s River Valley lenders. When you meet with a Franklin lender, you’re meeting with a decision-maker rather than an order-taker who may be working a circuit of branches, a different one for each day of the week.

Franklin Savings Bank was founded 145 years ago as Franklin County Savings Bank. It became Franklin Savings Bank when it opened its first branch in Rumford in 1968. The Mexico branch opened in 1970. The community bank has $329 million in assets, eight locations, including Western Mountain Financial Services, and about 120 employees.

Franklin Savings Bank has built a strong foundation of community service. Our employees give countless volunteer hours and have personally donated more than $50,000 to various local charities with our “Fund-Raising Fridays.” When you see an FSB employee wearing jeans on a Friday think of the many charities that have benefited — including our local food pantries, animal shelters, local families in need, Relay for Life, Wounded Warriors, Alzheimer’s Assoc, heating assistance programs and many, many more. The bank supports our local schools, community events and recently has been very involved in the fundraising efforts for Black Mountain of Maine.

Because of its strong commitment to the community, being an active member of the River Valley Chamber of Commerce and supporting all the Chamber does for the River Valley and its local businesses is very important to Franklin Savings Bank and its employees. Our philosophies go hand in hand. As the ads say … “Why would anyone bank anywhere else?” and “It’s where we want to be!”

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