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May 10, 2011

Former Bangor Savings president dies

By The Mainebiz News Staff

Former Bangor Savings Bank President Malcolm Jones, who led the financial institution as it grew from $133 million in assets to nearly $700 million, has died.

Jones, a Bangor resident, died Sunday at the age of 81, according to the Bangor Daily News. An Athens native, Jones began working as a teller at Bangor Savings in 1954, became executive vice president in 1971 and president four years later. While under his leadership, Bangor Savings expanded to 279 employees and 13 locations and became known for its relationships with businesses, including Husson University, which Jones in 1983 helped to avoid a federal auction and pay off $7 million in bonds, according to the paper.

Jones retired in 1995 and continued to spend time at his family farm in Athens.

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