FARMINGTON — Franklin Savings Bank has announced the retirement of President and CEO Peter Judkins at the end of this year. Judkins has been president and CEO at Franklin Savings since 2005. He will continue to serve on the bank’s board of directors. Executive Vice President and Chief Operating Officer Tim Thompson has been chosen as his successor.

Thompson joined the bank in 2000, and has been responsible for finance, operations and technology as well as other administrative duties. He was promoted to executive vice president and chief operating officer in 2015.

While at Franklin Savings Bank, Judkins was actively involved on the boards of many professional, civic and nonprofit organizations, including the Maine State Housing Authority, the University of Maine at Farmington Board of Visitors, the Ski Museum of Maine and chairman of the Maine Bankers’ Association. Judkins has also been very involved with the Farmington Ski Club, serving for many years on its board of directors and as a past president.

Currently, he is on the board of directors for the Federal Reserve Bank of Boston where he is also chairman of the Audit Committee. He is also on the board of the Franklin Community Health Network, The Pierce House, the Farmington Rotary Club, the Greater Franklin Development Corp. and a member of the ABA Community Bankers Council. 

Thompson grew up in Kingfield and is a Mt. Abram High School graduate. He is active in the community and he is currently serving on the board of directors for The Pierce House, the Farmington Rotary Club and the Greater Franklin Development Council. He and his wife have lived in Farmington for many years and have two grown children.

The bank invites the community to an open house in Judkins’ honor at 5 p.m. Tuesday, Dec. 12, at the bank’s main office, 197 Main St.

Peter Judkins, left, president and CEO of Franklin Savings Bank, is retiring at the end of 2017. Tim Thompson, right, executive vice president and chief operating officer, will be his successor.