For more than 10 years it has been our honor to serve the constituents of Kennebunk Savings. Throughout this time, it has been our privilege to work with President and CEO, Brad Paige, however, the end of December marks the end of an era with Paige at the helm as he heads into retirement. This seems an appropriate time to review and laud some of the many accomplishments of Brad and of the bank while under his leadership.
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A native of Kennebunk, Brad Paige began his banking career as a teller in 1998. From here he became a commercial loan officer, then moved on to retail products manager, and chief financial officer. In 2009, amid the banking crisis, Paige was named president and CEO. Under his leadership, Kennebunk Savings has grown from $806 million to $1.85 billion in assets and from about 260 employees to about 325.
Joel Stevens, the bank’s former CEO, created what is now known as our Community Promise program where the bank gives 10% of its annual after-tax earnings to nonprofits in our community. Paige has been an ardent steward of the program which has resulted in over $20 million donated to nonprofits since the program’s inception in 1994.
Brad has expanded on Joel’s vision of corporate citizenship by creating the Spotlight Fund in 2016. Through this fund, a dedicated team proactively researches and identifies a pressing issue affecting our local communities. This team meets with leaders in the field to understand how a long-term investment creates real impact, resources and opportunities that lead to positive change.
Former Kennebunk Savings President and CEO Bradford C. Paige, left, and his successor, Lex Meagher. Contributed / Kennebunk Savings
One of the Spotlight Fund’s signature causes is substance use disorder prevention and recovery. Brad has helped the bank achieve certified Recovery Friendly Workplace status which promotes a safe and healthy environment where employees, employers and communities foster a supportive culture that removes stigma and recognizes recovery from substance use disorder as a strength. Brad has become well known across Maine for his efforts to offer Kennebunk Savings as a resource for other companies who want to address substance use disorder or to become Recovery Friendly Workplaces.
Brad has a knack for finding creative solutions to address the community’s needs. An example of this is a recent donation of undeveloped land (valued at $1 million), adjacent to the bank’s headquarters, to Avesta Housing to create 70 units of affordable senior housing. The bank also donated $550,000 toward construction costs.
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As Brad will tell you, it’s not just what we give, it’s what we do, and he encourages employees to donate their time and talents to local causes. Last year nearly 12,000 hours were volunteered by employees. Paige is often found volunteering at events alongside employees and currently is a board member of SOS Recovery Community Organization and the Futures Board of Northeast Passage. He was also a member of the Maine Recovery Friendly Workplace Advisory Board.
Previous involvement with local nonprofit organizations includes the United Way of York County, Southern Maine Health Care, Wells Rotary Club, Wells-Ogunquit Community Connections Mentoring Program, York SHIPs (Special Helpers in Public Schools) Mentoring Program, Kennebunk-Kennebunkport Little League and the Child Abuse Prevention Council of York County. On a professional level, he has served as chair of Maine Bankers Association and was on the American Bankers Association Board of Directors.
Brad is a passionate advocate for supporting wellness, equity, and collaboration. He believes a diverse team and inclusive culture is more effective in meeting the needs of our communities and that diversity is the bank’s greatest strength. He helped to create and foster the bank’s Diversity, Equity and Inclusion Council to bring cultural awareness through training and action.
Paige is leaving the institution, our customers, employees and communities well-positioned for a strong future. New President and CEO Lex Meagher, along with dedicated management and staff, will continue to build on Brad’s legacy, adding their own unique touch to provide excellent customer service and make Kennebunk Savings an outstanding place to work.
Lori Howell is chair of the Kennebunk Savings Board of Directors. Douglas Stockbridge is vice-chair of the Kennebunk Savings Board of Directors.
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