The Modern Era
As Kennebec Savings Bank grew, it became necessary to look for additional space, and in 1984, the Park Circle Office Building, also known as the Tappan-Viles Mansion or Tappan-Viles House, at 154 State Street, was purchased. The Tappan-Viles Mansion earned its place on the National Register of Historic Places in February 1982. The structure is a unique blend of three magnificent architectural styles - Federal, Italianate, and Colonial Revival.
The home was built in 1816 for Doctor Reverend Benjamin Tappan, a Harvard graduate, who served as the Pastor of the South Parish Congregational Church. After his death, Mrs. Tappan sold the property (in 1862) to Colonel Alanson Farwell, a lawyer and member of Governor Hubbard's staff. Upon Farwell's death, the property was acquired by Doctor W. Scott Hill who contracted the services of John Calvin Stevens to re-style the home in Colonial Revival style in 1915. In 1923, Blaine S. Viles acquired the property. Viles was a graduate of Bowdoin and Yale Forestry School and was a lumber merchant who served as State Forest Commissioner and as Mayor of Augusta from 1915 to 1916. The Viles family was the last to use the home as a residence. As the Park Circle Office Building, some of the occupants over the years included Viles Timberlands, Senator William Cohen, Senator George Mitchell, the United Way of Kennebec Valley, and Big Brothers-Big Sisters of Kennebec Valley.
The year 1985 marked Kennebec Savings Bank's first year of profits exceeding $1 million. In 1988, the Bank began a two-year construction and restoration project to connect the Tappan-Viles House to the existing bank building, creating the modern banking facility that exists today. In June 1990, Kennebec Savings Bank went on-line with its own in-house computer system, enabling the Bank to create its own statements rather than having the work done by an outside service bureau. In September 1992, the Bank installed its first Automated Teller Machine (ATM), providing customers with access to their funds 24 hours a day, 7 days a week.
As Augusta grew and the population in the surrounding towns grew, so too did Kennebec Savings Bank. In 1992, the Bank established its first branch office, which is located at 84 Main Street in Winthrop. The Winthrop branch has enjoyed steady growth since its opening.
Throughout its 145+ year history, Kennebec Savings Bank has maintained a commitment to the local community by offering fair and flexible banking services and by being a good neighbor. The staff and board members are involved in community projects, fundraisers, and educational advancement. On September 8, 1994, the Bank demonstrated its commitment once again by purchasing the property at 156 and 158 State Street, at the corner of Western Avenue, turning the property into a park and garden.
Growth in 1995 also brought about the merger of Kennebec Savings Bank and Waterville Savings and Loan Association, located at 226 Main Street in Waterville, on June 16, 1995. Waterville Savings and Loan Association had served northern Kennebec County since 1887. Their President and CEO at the time of the merger was Dennis W. Matthews who became an Executive Vice President of Kennebec Savings Bank following the merger. At the time, Kennebec Savings Bank assets were over $190 million, and Waterville Savings and Loan Association assets were $35 million.
Kennebec Savings Bank has withstood the test of time, and is in a strong position to continue to be a thriving banking institution for the next 145 years. We proudly remain your community bank since 1870.