Community Activities

Franklin Savings Bank has teamed up with the Greater Franklin Development Corporation to keep jobs in Farmington.

According to Peter L. Judkins, President and CEO, the Franklin Savings Bank Community Development Foundation has donated $25,000 toward the acquisition of the former MBNA building.

Franklin Savings Bank will finance the remaining $351,000 of the $376,000 purchase price of the building, which has an appraised value of $1.2 million.  Bank of America, which purchased MBNA, offered the facility at a reduced price to a non-profit, economic development organization, Greater Franklin Development, contingent upon having a tenant.

“It should be a seamless conversion without negative impact to the community.” said Michael Luciano, Chairman of the Board of Directors for Greater Franklin Development Corporation.

“This is a great opportunity to keep local people working in the community,” said Judkins, who is also Treasurer for Greater Franklin Development, “We are very pleased to be able to keep that building productive and our own Franklin County workers working.”

Franklin Savings Bank VP Commercial Lender Mike Mansir, FSB Board Member & GFDC Board Chairman Michael Luciano, GFDC Executive Director Alison Hagerstrom and Edward David of Joyce, David and Hanstein stand in front of the former MBNA building.