I. Letter from the President & CEO

Andrew Silsby, President & CEO

LETTER FROM THE PRESIDENT & CEO K

ennebec Savings Bank, in celebration of its 150th anniversary, is proud to present this record of our past, and present, as we look to the future.

While the Bank has grown over the years, we have never lost sight of our roots. Augusta has been the Bank’s headquarters for all of its 150 years, and the Bank’s name has also remained unchanged in that time.

Joshua Chamberlain signed the Legislative Act that created our charter in 1870. e Bank was created back then so that the common person could save money and buy a home. We have stayed true to these core values while embracing growth opportunities that will help us better serve our customers and communities.

We have also remained a mutual organization. As a mutual, without the pressures of stockholders, we have more exibility, allowing us to help more people while competitively growing the number of locations and services we o er.

Over the past century and a half, Kennebec Savings Bank has grown from a start-up bank to a $1.1-billion bank, and is the 10th largest Maine-based bank. It now maintains a one third share of the market for deposits and loans within Kennebec County. Given the number of banking choices in our region, that is a signi cant honor.

Our commitment to service and excellence has de nitely played a strong role in this success. We have a great team of employees who are genuinely nice and helpful people. And, many of us have been part of the Kennebec Savings Bank family for a very long time. You might even say some of us grew up with the Bank. I started at the Bank as a loan o cer in 1993. Our chief operating o cer started as a teller and spent time in

the mail room. Our business intelligence manager started in our summer intern program, and our controller started out as a teller at the Winthrop branch. Growing our leaders from within our organization has become an important part of our strategy.

I also think people respect and value our longtime, deep connection with the communities we serve. At Kennebec Savings Bank, we feel it is important to make a di erence by giving back to the communities we serve, both of our dollars and of our time. As of the printing of this book, our employees donated more than 9,000 hours, which works out to more than eight and a half business days of volunteering per employee, per year. With nearly 10% of our income going back to the communities we serve in the form of donations, through our Community Dividends Program, we are proud to be good corporate citizens.

Central Maine is thriving with new energy and new economic vitality. People are moving back to the downtowns. New restaurants, retail and other locally owned businesses are opening throughout the region. Kennebec Savings Bank is proud to support many of these economic developments.

As we celebrate our 150th anniversary, as well as Maine’s bicentennial, I look back fondly on our many past achievements and the many great things to come for the Bank and our communities. I am also thankful for the many leaders who have led this ne institution and built upon prior successes. Each leader was the right leader for the institution at the time and the Bank’s success today is attributable to everyone’s collective e orts.

Sincerely,

Andrew Silsby President & CEO Andrew joined the Bank in December 1993 as a loan officer. In 2003, Andrew was named a Rising Star by Independent Banker Magazine.