Community Involvement

Franklin Savings Bank, founded in 1868, is one of the oldest and most successful businesses in Western Maine. It is, in fact, the ONLY locally-owned bank in Franklin County.

The Bank is committed to the communities it serves and makes generous contributions of money, staff time & expertise, and bank resources. In 2021, we granted $48,000 in scholarships to local students.

Franklin Savings Bank Foundation

Franklin Savings Bank is a true Community Bank. We take pride in our generous support of various causes in the community.

We do business primarily in Western and Central Maine and have a commercial-only services offered in Ellsworth. Our Main Office is in Farmington and we have branches in Rumford, Rangeley, Skowhegan, Jay, Wilton, and the Mt. Blue High School Campus.

Please note: We do not do business in New Hampshire and are not affiliated with the Franklin Savings Bank that does business in that state.

Franklin Scholars

Each year, Franklin Savings Bank’s Community Development Foundation awards 12 college scholarships, totaling $36,000, to graduates, from 11 local high schools, who are pursuing a career in a business-related field at a 4-year college or university.

  • Mt. Blue High School (two scholarships)
  • Mountain Valley High School
  • Mt. Abram High School
  • Dirigo High School
  • Spruce Mountain High School
  • Madison High School
  • Skowhegan Area High School
  • Rangeley Lakes Regional School
  • Carrabec High School
  • Telstar Regional High School
  • Ellsworth High School

Technical Scholarships

New in 2020, Franklin Savings Bank began offering 4 scholarships, totaling $12,000 to seniors from 4 local technical schools. Recipients will be entering a 2 or 4-year accredited certification program or pursuing a degree from a technical/postsecondary vocational school, college or university.

Each award is based largely on academic achievement, but community involvement, extracurricular activities, and financial need are also considered. For more information, please reference the applications below.

Please note, this PDF may be typed online and printed out or printed out and filled in later. In either case, it cannot be submitted online. You must take the application to your school guidance office or technical center administrative office.

These scholarships are available only to graduating seniors enrolled at the above schools. Awards will be determined by the schools and applications should be directed to the guidance office at the school.

  • Foster Career and Technical Education Center
  • Somerset Career and Technical Center
  • Region 9 School of Applied Technology
  • Hancock County Technical Center

2021 Franklin Scholars

Franklin Savings Bank Foundation grants $48,000 in local scholarships

In 2021 Franklin Savings Bank’s Community Development Foundation has awarded $48,000 in college scholarships to 15 local high schools and technical centers. The scholarships range from $1,500 to $3,000 and benefited 17 students in 2021.

Thirteen scholarships went to local students pursuing business-related programs: accounting, finance, marketing, management, computer sciences, or other business-related courses. Scholarships from the Foundation were awarded to students planning to attend a four-year college or university.

The 2021 Franklin Scholars in business include:

  • Carrabec High School: Sarah Olson 
  • Dirigo High School: Dallas Berry 
  • Ellsworth High School: Pedro Little-Siebold and Nathan Smith 
  • Madison Area Memorial High School: Everett Cameron 
  • Mountain Valley High School: Michaela Beauchesne 
  • Mt. Abram High School: Aliya Boyce 
  • Mt. Blue High School: Jackson Joyce and Logan Holmes 
  • Rangeley Lakes Regional School: Ellah Smith 
  • Skowhegan Area High School: Brayden Alward 
  • Spruce Mountain High School: Jack Gilbert 
  • Telstar Regional High School: Dillan Smith 

This group of students were chosen due to their impressive academic standing, community involvement, participation in athletics and extracurricular activities. Each scholarship is granted to the school for them to choose the recipient based on those categories. 

In 2020, Franklin Savings Bank began donating to four local Career and Technical Centers. These funds are provided to students to further their technical skills. Franklin Savings Bank recognizes the importance of students pursuing careers in the trades. 

The 2021 Franklin Scholars from Career and Technical Centers include:

  • Foster Technical and Career Center: Brain Thane Dustin 
  • Somerset Career and Technical Center: Isabel Turgen 
  • Hancock Technical Center: Elaine Hutchins 
  • Region 9 School of Applied Technology: Mackenzie Osgood

The Franklin Savings Bank Community Development Foundation Scholarship was awarded to this group of seniors who will be entering an accredited certification program or pursuing a two or four-year degree from a technical/postsecondary vocational school, college or university.

“This is a great group of young people who have achieved much in their high school careers. We look forward to hearing of their continued success in college,” said Tim Thompson, President and CEO at Franklin Savings Bank.

Franklin Savings Bank’s Community Development Foundation was created in 2000 to support community, economic and educational needs within the communities served by Franklin Savings Bank. To date, the Foundation has awarded $704,000 to more than 290 students and is one of the most generous scholarships available in the area.

Franklin Savings Bank is a community bank founded in 1868 which serves Maine’s western, central, and Downeast regions of Maine from eight locations.