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Rumford, ME – After more than 23 years of serving the community and supporting local businesses, Rich Allen, Vice President and Senior Commercial Loan Officer at Franklin Savings Bank’s Rumford branch, is retiring.
Throughout his tenure, Rich has been a pillar of the Bank’s success, fostering strong client relationships, driving economic growth, and mentoring colleagues throughout western Maine. His dedication most recently earned Franklin Savings Bank recognition with FAME’s 2024 Lender at Work Award, highlighting his instrumental role in creating jobs and supporting the local economy.
Tim Thompson, President and CEO of Franklin Savings Bank, praised Rich’s legacy: “Rich’s leadership, dedication, and commitment to excellence have made a lasting impact on Franklin Savings Bank and western Maine. We will greatly miss his expertise and camaraderie, but we are excited for him as he begins this well-deserved retirement. On behalf of everyone at the Bank, I wish Rich and his family the very best in this new chapter.”
Reflecting on his career, Rich shared: “I am deeply grateful for the incredible career I’ve had at Franklin Savings Bank. Working with an exceptional team and serving our clients and community has been an honor. I look forward to this next chapter, spending more time with my family and enjoying the simpler pleasures of life.”
Rich has been a key player in the Rumford and Bethel communities, serving on the boards of the River Valley Growth Council, River Valley Technology Center, and Mexico Senior Housing Authority, among others. His leadership extended beyond banking, with years of coaching varsity girls’ basketball at Mt. Valley High School—a role that brought the same dedication and passion he’s shown throughout his career.
Jennifer Merrill, a long-time Franklin Savings Bank employee and Assistant Vice President and Commercial Loan Officer, will oversee management of the Bank’s commercial portfolio in Rumford and Bethel going forward. With over two decades of experience in various aspects of the Bank’s commercial business, Jennifer is well-positioned to continue Franklin Savings Bank’s tradition of exceptional service and support for local businesses.
Franklin Savings Bank invites the community to join them at an open house to celebrate Rich’s retirement. The open house will take place on Thursday, January 30th from 3:00pm-5:00pm at the Rumford branch, 155 Congress Street, Rumford.
Founded in 1868, Franklin Savings Bank is a community-focused financial institution that serves Maine’s western, central, and Downeast regions from eight locations. With a reputation for strong customer service and deep community involvement, the bank offers a wide range of products and services.
