An Unusual Bylaw

from Kennebec Savings Bank: The First 150 Years

Past and Present Board Chairman

In the early years, Kennebec Savings Bank’s bylaws addressed the oversight of an official bank firearm. This was long before “911” service, security cameras, or motion detectors, and when banks were responsible for the handling of their own protection. Bank robberies were also far more common during this era than they are today.

According to early bylaws for many banks, it was common for the treasurer to be responsible for possessing the firearm. This was the case at Kennebec Savings Bank until the mid 90s when it was handed down to then Vice President and Loan Officer Andrew Silsby, who later became treasurer. Tom Trafton, a residential mortgage lender, held the bullets. Therefore, the use of the firearm required dual control—which made everyone feel better! The good news is that there are no known incidents in the Bank’s history where the firearm was actually used.

The firearm has a well-worn leather holster which would have been mounted under a desk. It even has visible marks where an employee sitting at the desk would have leaned against it day after day.

Today, the firearm and its leather holster are safely stored in the Bank’s archives … without any bullets.

Kennebec Savings Bank still has its official firearm— a Smith & Wesson .38 double-action revolver—a model which was introduced in 1880 and manufactured until 1911. The Bank consulted a Smith & Wesson historian, who confirmed that the Bank’s model was shipped from their factory in 1902. This is perhaps the second gun owned by the Bank since there would have been an older model used when the Bank first opened in 1870.