Franklin Savings — looking to expand its Downeast footprint — opens full-service branch in Ellsworth
Courtesy / Franklin Savings Bank
Franklin Savings Bank expanded into Ellsworth with a full-service branch.
Franklin Savings Bank cut the ribbon this week on a full-service branch at 181 State St. in Ellsworth, giving it a better foothold in the Downeast market.
The bank had previously had a loan-production office in Ellsworth that it opened in 2016. That site, at 130 Oak St., Suite 9, is next door to the new branch.
With the expansion into full-service banking, services will include consumer and business deposit accounts and mortgage lending.
“We’re not only opening a new branch, we are advancing our investment and commitment to the greater Ellsworth market area,” said Tim Thompson, the bank’s president and CEO.
Founded in 1868, the Farmington-based bank has eight branches, most of which are in western and central areas of Maine. Branches are in Ellsworth, Farmington, Rumford, Jay, Wilton, Skowhegan and Rangeley; it has a seasonal, limited-access branch at Mt. Blue High School in Farmington.
Franklin Savings ranks No. 18 on the list of largest Maine-based banks, with assets of $693.6 million as of June 30, 2024, according to the Mainebiz 2025 Book of Lists.
The branch next door
The Ellsworth branch, which is next door to the bank's former loan-production office, is 3,000 square feet and includes 13 parking spaces, lobby and drive-up access, an ATM and a night-drop.
The Ellsworth branch is staffed by nine employees who live in the area, including John Morse as branch manager and Crystal Richards and Timothy Tunney as commercial lenders.
“We hired an additional commercial lender and customer service representatives prior to opening the branch, allowing time for training at our headquarters,” Courtney Austin, the bank’s marketing director, told Mainebiz.
She said the bank has a residential lender who will start later this month.
The 181 State St. location is a good spot for the branch for several reasons, she said. It has ease of access that avoids high-density traffic. It’s a well-known location for customers, being next to the previous loan production office next door. And the location has been well received by existing clients, employees and business partners, she said.
For the build-out of the branch, the contractor was E.L. Shea, of Ellsworth, while Selander Architects handled the interior and exterior design process.
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