Franklin Savings Bank history

Incorporated on June 30, 1869, Franklin Savings Bank has been a mainstay in Central NH for over 150 years.

In the spring of 1886, construction of the new bank building occupied by Franklin Savings Bank and the Franklin National Bank began.

1889 Annual StatementEarly photo of Broadway locationMid 20th Century view of Broadway locationEarly print ads

Franklin Bank was a 'savings & loan' when its first full-time business office opened in Salem, New Jersey in August 1946.

Construction of the current Main Office, a colonial style building on Main Street, almost directly opposite the bank’s original location, was completed in 1964.

Franklin Savings Bank opened its first branch in Rumford, April 1, 1968.

In 1980, the bank acquired the neighboring First National grocery store and converted it into the present Loan and Operations building.

In 1981, Brown commented on the “Merger Mania” he saw as prevalent in Maine and the nation. “Bigness for bigness sake alone has never been a strong forte of my own or that of management philosophy in the bank’s 114 years of existence.”

April 1982: the first FSB branch office opened for business on Upper Central Street in Franklin

In 1983, the bank rebounded. “A return to profitability occurred that not only recouped the losses sustained in those years, but also provided a reasonable additional amount for the current year’s operations,” wrote Brown.

June 1985: FSB’s Bristol Office opened its doors to serve customers in the former Public Service Company building on Lake Street in Bristol

In 1988, in light of regulatory changes that granted thrifts much the same powers as banks, the then-named Franklin Savings and Loan Association changed its name to Franklin Savings Bank, S.L.A—and built full-service banking facilities.

President John A. Durham noted in 1989 that the banking industry in Maine has changed. “Maine banking laws enacted in recent years have allowed Maine financial institutions to be taken over by out-of-state institutions.

Blue High School, September 7, 1993.

In the fall of 1994, Franklin Savings Bank purchased the former Franklin National Bank (First NH Bank) building and performed renovations to join the two buildings as one.

In January 1998, Franklin Savings Bank formed a mutual holding company and became Maine's first bank mutual holding company.

January 1999: at the corner of Routes 3 & 11 at Exit 20 located off I-93, the bank opened its Tilton Office

In May 2000, the bank opened its four-story Administration Building on Front Street.

Online banking came to FSB in February 2001.

Independence Financial Advisors (IFA) became part of the Franklin Savings Bank family in September of 2002 when FSB purchased the company from three principal owners: Granite Bank, Village Bank & Trust, and St Mary’s Bank.

January 2003: FSB opened its fourth full-service office on King Street in the Town of Boscawen

Peter Judkins became President and CEO in 2005.

From the turn of the century through 2007, Franklin Savings Bank saw rates drop and a flurry of refinancing and purchases.

Originally established as Independence Trust Company, in June 2011, the company restructured from a trust company to a registered investment advisory firm.

Today known simply as Franklin Bank, it had assets of $251 million in the first quarter of 2013.

The purchase of GML Financial Advisors (located in Rochester, NH) in December of 2014 provided IFA greater resources to serve clients in broader markets across the state.

September 2016: The bank unveiled a new logo and tagline, Smarter Banking.

September 2017: Franklin Savings Bank opened a full-service office located on Dobson Way in Merrimack