Y2K and Kennebec Savings Bank

In the time leading up to the year 2000, concern was building regarding a potentially significant problem for the world’s computing infrastructure. Commonly referred to as the Y2K problem, many experts believed that a class of computer problems related to the formatting and storage of calendar dates would arise when the world entered the new millennium. Most computer calendars represented four-digit years with only the final two digits, which had the potential to cause considerable issues in the year 2000 when the first two digits would change.

Understandably, banks and banking regulators were also concerned about the problem—and that included Kennebec Savings Bank. Although it was unclear if the Bank’s systems would experience issues, it was of the utmost importance that financial systems be tested, and preparations made well in advance of January 1, 2000, to ensure everything remained operational.

Treasurer Jim Chase led the Bank’s testing and preparation efforts. He was asked to speak to civic organizations and media outlets to share his expertise on what to expect and how to be prepared.

On New Year’s Eve 1999, several key employees were required to be on hand when the clock struck midnight just in case there were issues that needed to be resolved. The team created their very own “Situation Room”—a television was used to watch the ball-drop celebration and there were plenty of snacks to pass the time and ease their nerves.

Then President Mark Johnston and Vice President and Loan Officer Andrew Silsby realized the situation provided the perfect opportunity to play a joke on Jim. At the stroke of midnight, Mark and Andrew simultaneously turned off the television and lights. Unfortunately, Jim was on to them due to a sliver of light coming in from under the door in the hallway—but rumor has it there were a few others that were duped and screams were heard.

Like many other businesses and systems across the world, the Bank passed into the year 2000 with no incident—but not without a few new memories!

Treasurer Jim Chase took the lead on ensuring the Bank was prepared for the Y2K problem.

Right: Cecile Bouffard was one of the Bank’s longest-serving employees, retiring after 43½ years of service.

Our People

By 1998, Kennebec Savings Bank had grown to a team of 59 employees with 17 having 10 or more years of service with the Bank.

Kennebec Savings Bank also said goodbye to its longest tenured employee at the time, Assistant Vice President and Personnel O cer Cecile Bou ard. She retired after 43½ years of service with the Bank. e following year, Bill Pelletier retired as president but remained on the board. Executive Vice President and Senior Loan O cer Mark Johnston was promoted to president in 1999.

In 1999, the Bank celebrated its rst-ever annual employee appreciation day with special recognition gifts and refreshments throughout the day. It also started a tuition reimbursement program that allows employees to continue on to their college education. at year, ve employees worked toward advanced degrees.

Left: Bill Pelletier retired as president on January 1, 1999. During his presidency, the Bank opened the Winthrop and Waterville branches. Bill was instrumental in establishing the Kennebec Savings Bank Foundation, which is still in existence today and is used to support many of the Bank’s community giving initiatives.

Executive Vice President and Loan Officer Mark Johnston was named president in 1999 following Bill Pelletier’s retirement.

WEBSITE

Kennebec Savings Bank introduced its first website in 1999. The site provided customers with a wide range of information, including a full list of products and services, branch location details, and a special message from the president. Today, nearly every product and service offered by the Bank can be accessed using the Bank’s robust website!

Kennebec Savings Bank won the prize for Best Commercial Entry at the May parade celebrating Augusta’s bicentennial birthday in 1997.

Kennebec Savings Bank provided financial support to host the Boston Pops Esplanade Orchestra to help the community celebrate Augusta’s 200th birthday.

Our Community

1997 marked Augusta’s bicentennial birthday celebration, and the Kennebec Savings Bank oat won Best Commercial Entry in the May parade. Bank team members also provided nancial support that helped bring the Boston Pops Esplanade Orchestra back to Maine for the rst time in 17 years during this important milestone year for Augusta. More than 6,000 residents enjoyed the December 9 concert.

In 1999, after 162 years, the Edwards Dam was removed to help restore the sh population in the Kennebec River.

Kennebec Savings Bank provided a lead gift to help the Kennebec Valley Humane Society renovate its facility.

Giving Back

Kennebec Savings Bank supported numerous organizations and events, increasing its community involvement every year. Some of these projects included the Augusta Historic Neighborhood Tour, the Trek Across Maine, the Windsor Fair, the Kennebec Valley Garden Club, the Kennebec Valley and Winthrop YMCAs and the Capital City Hoop Classic.

It was also involved in the Kennebec Historic House Tour bene tting the Kennebec Historical Society, the Kennebec Land Trust’s initiative to acquire Norris Island on Androscoggin Lake and the Kennebec Valley Humane Society’s Homeward Bound capital campaign.

In 1997, the Bank participated in Augusta Board of Trade’s $1 million Business Development Fund, a revolving loan fund that supported the continued growth and development of the capital city. e Bank was named a nalist for a Governor’s Award for Service and Volunteerism in 1998. at year, it was the lead sponsor of the Capital Area Soccer Club’s brand-new complex on Piggery Road.

Kennebec Savings Bank’s grant to subsidize the Alfond Youth Center’s 2000 Annual Appeal Kick-O Dinner helped raise $60,000 in contributions from area businesses and individuals.

Also in 2000, the Kennebec Valley Humane Society celebrated the grand opening of its new home on Western Avenue, built with assistance from a grant from Kennebec Savings Bank. e new facility featured a modern, expanded cage area and a new animal control area. at year, it handled more than 3,000 dogs and cats from 23 neighboring communities, helping to nd new homes for stray, abandoned and misplaced pets.

The Bank was involved with a number of historic tours, including the Historical Walking Tour of Augusta. The artwork on the brochure on the left was done by local artist David Silsby—the father of Bank President & CEO Andrew Silsby.