David Cyr

In his first week as president and CEO, Dan Tilton told Mainebiz that while the bank is open to potential acquisition or branch expansion opportunities, it remains committed to its existing footprint.

Skowhegan Savings Bank has promoted Vicki Alward to executive vice president and chief operating officer.

David Cyr announced he would retire at the end of 2025, and will be replaced by Dan Tilton, who is now a VP of sales and customer relations.

The bank's current board chair, Rick Anzelc, plans to step down and retire after 28 years of service.

Maine banks, like ones across the country, are getting impatient for the Federal Reserve to cut interest rates.

For the third year in a row, Skowhegan Savings Bank will sponsor the prize for the Dirigo Labs business pitch contest, the culmination of a months-long accelerator program.

The multi-year fund, recently launched by the Skowhegan Savings Foundation, aims to address workforce development needs in Maine communities served by Skowhegan Savings Bank.

Eight people are employed at the new branch, which cost $1.5 million to build, bringing the company's total to 150 employees and more than 60 locations.

This year's pitch-off, scheduled for May 4 at the Maine Film Center in downtown Waterville, features 11 startups in the program's second cohort.