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AUGUSTA — Craig Garofalo has been promoted to executive vice president and chief operating officer at Kennebec Savings Bank, President and CEO Andrew Silsby announced Dec. 7.
Garofalo was previously senior vice president and chief operations 0fficer and works at the bank’s corporate office in Augusta. He began at Kennebec Savings Bank as a college intern, and then began his career in 2003 as a management trainee. After becoming a loan officer and a branch manager at the bank’s Augusta branch, he moved to operations in 2011, when the bank converted its core operating system.
“With 14 years banking experience, Craig is a capable and natural leader who brings expertise and innovation to our technology and operational areas,” said Silsby in a news release. “He has advanced our operations department helping to expand Kennebec Savings Bank’s footprint in the technology world, and recently helped expand the bank’s physical footprint with the addition of the Bank’s first Electronic Banking and Loan Center in Freeport.”
Garofalo said, “I am very proud of the work we do at Kennebec Savings Bank and truly enjoy the people I work with and the customers we support each and every day. Our history and traditions at the Bank are longstanding and I feel very fortunate to have the support to take on an expanded role in the day-to-day operations and decisions involved with the future of Kennebec Savings Bank.”
He earned a bachelor’s degree in business administration from Babson College, and is a graduate of the Kennebec Leadership Institute, the New England School for Financial Studies and the Stonier Graduate School of Banking. He has seved on the United Way of Kennebec Valley since 2012. He and his wife, Stephanie, and their three children, chaired UWKV’s 2015 fundraising campaign, which raised more than $1.5 million to support the Kennebec Valley region. He is also on the finance committee for Maine-Dartmouth Family Medicine Residency and an active member of several committees for the Maine Bankers Association.
Kennebec Savings Bank has offices in Augusta, Waterville, Winthrop, Farmingdale and Freeport, as well as KSB Anytime 24-hour electronic banking centers in Manchester, Augusta and Farmingdale.
