In 1870, the Androscoggin River area witnessed a transformative period marked by industrial growth and population influx. Textile mills flourished, doubling Lewiston’s population within just 12 years. Amidst this boom, a crucial need emerged—a bank tailored to the needs of everyday wage earners. While banks were already prevalent in the area, they were commercially driven and often looked past the hard-working employees who served as the foundation for this industry boom.
Responding to this call was a group of twelve local citizens, ready to make a change. From factory and lumber mill owners to clerks and City Council members, this group was concerned about the needs of blue-collar workers. They petitioned for the incorporation of Androscoggin County Savings Bank, recognizing the necessity of financial inclusion in their rapidly evolving community.
On March 5, 1870, their vision became a reality as the Maine State Legislature approved their petition. Shortly after, the Bank’s first corporators and trustees were named and the groundwork for a bank deeply rooted in community values was formed. Eliphalet F. Packard, a prominent shoe factory owner, assumed the role of the Bank’s first president, guiding its trajectory for an impressive 17 years.
Today, Androscoggin Bank stands as a testament to the enduring legacy of its founders. From its humble origins to its current presence, the Bank remains steadfast in its commitment to serving the diverse needs of our communities.
As we celebrate Founders’ Day, let us honor the visionaries and trailblazers who dared to dream of a better tomorrow—a tomorrow where financial stability and prosperity are within reach for every member of the community!
Original Petitioners for Incorporation 1870:
- Samuel R. Bearce, Ran a Lumber Mill at Lewiston Falls, Employing 200 People
- T. Barker, Director, First National Bank
- O. Sands
- Eliphalet F. Packard, Shoe Factory Owner
- C. Pingree, Superintendent at S.R. Bearce Company
- A. Pierce
- Thomas Fillebrown, Dentist
- John G. Cook, Druggist with an Apothecary Shop on Lisbon St.
- H. Murray, Superintendent at Lincoln Mill
- George H. Pillsbury, Clerk and Paymaster for the Franklin Company
- C. Pennell, Clerk and Paymaster at the Continental Mills
- H. Cummings, Member of the Lewiston City Council
First Corporators
- T. Barker, Director, First National Bank
- Amos D. Lockwood, Director, First National Bank
- Archibald Wakefield, Director, First National Bank
- John V. Scruton, Clothing Merchant
- Nelson Dingley Jr., Publisher, Lewiston Journal
- Ai Brooks Jr., Cashier, First National Bank
Trustees
- Samuel R. Bearce
- T. Barker
- Eliphalet F. Packard
- George H. Pillsbury
- Ai Brooks Jr.
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