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Updated: July 15, 2022

Skowhegan Savings breaks ground on new Farmington branch

2 people with sign Courtesy / Skowhegan Savings Bank Farmington businessperson and Skowhegan Savings board member Sam Hight joined Skowhegan Savings’ president and CEO, David Cyr, during the groundbreaking this week of the bank’s future home on Wilton Road, next to Hannaford Drive. Hight owns Hight Chevrolet, Buick, GMC in Farmington.
By Staff

Skowhegan Savings Bank has broken ground on a new branch in Farmington. 

The new banking center, on Wilton Road next to Hannaford Drive, will replace a Skowhegan Savings' branch next door.

“We have been in our current location here in Farmington for the past 10 years,” the bank’s president and CEO, David Cyr, said in a news release. “The building is a great building, a historic building, but it is a leased building that isn’t quite suited to our needs anymore.”

The goal of the new design is to better serve customers, he added. It will be just under 2,400 square feet and will offer three drive-through lanes, with one dedicated to an ATM, plus parking and a focus on additional interior customer service space.

drawing of building
Courtesy / Skowhegan Savings Bank
This schematic shows Skowhegan Saving’s new Farmington branch building.

The construction contractor is Plymouth Engineering of Newport. It’s expected the branch will open early next year.

The bank operates a dozen branches, including one in Portland, which opened last year as Skowhegan Savings' first brick-and-mortar presence in southern Maine.

Headquartered in the namesake town where it was founded over 150 years ago, the bank is a mutual savings institution, owned by its customers. With assets of over $754 million, it ranked No. 17 among the largest Maine-based banks in the 2022 Mainebiz Book of Lists. Skowhegan Savings has roughly 130 employees.

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