Peter Judkins, left, and Richard Walker

FARMINGTON — Richard Walker has announced his retirement as chairman of the Franklin Savings Bank board of directors.

Elected chairman in 2017, he has been a member of the board since 1991.

Former bank President Peter Judkins of Farmington has been elected by the board to assume the chairmanship in January 2022.

Walker recently sold his accounting, audit, tax and consulting practice and home in Rangeley and has relocated to the coast of Maine with his wife, Anne.

In 2017, Judkins retired as president and CEO of the bank after 12 years and has continued to serve on its board. He has an extensive background in the financial industry, including serving on the board of directors for the Federal Reserve Bank of Boston where he was the chairman of the Audit Committee. Judkins also serves on the board of the Franklin Community Health Network.

Also retiring from the bank’s board is former bank President and CEO Gary Downs, who retired in 2005. He has served 16 additional years as chairman of the Mutual Holding Company and will always be an integral part of Franklin Savings Bank’s historical success.

Downs and his wife, Jean, reside half the year in Bonita Springs, Florida, and the other half on the lake in Industry.