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October 25, 2004
 The
national magazine, U.S. Banker named Lorraine Boston, executive
vice president of commercial lending at Kennebunk Savings Bank to the Top
25 Women to Watch in Banking list for 2004. This list was culled
from over 5,000 nominations nationwide.
For the second year in a row, U.S. Banker rated the top 25 Most
Powerful Women in Banking and the top 25 Women to Watch in Banking in
its October issue. Boston, the sole representative from Maine and one
of only a few in all of New England on either list, was ranked
twelfth.
Boston was chosen for her work with the transformation of the
Commercial Services department at Kennebunk Savings Bank. Over the
last six years, Boston has helped rebalance the bank’s largely
consumer banking reputation to one that can equally handle retail and
business customers. The bank’s commercial portfolio has grown from
$72 million in 1998 to $247 million in 2004. It now represents 50% of
the bank’s overall loan portfolio.
Through Boston’s leadership, Kennebunk Savings became a Small
Business Administration (SBA) Preferred Lender in 2000 and was the
number one SBA lender among all banks in Maine in dollar volume in
2003. Also under Boston’s watch, Kennebunk Savings has been
named the Finance Authority of Maine (FAME) Bank of the Year in
1999, 2001, and 2004.
Boston has worked to create strong relationships with SBA, FAME, Rural
Development and small business development centers in order to allow
Kennebunk Savings to offer more resources and opportunities to small
businesses in York County. In addition, with Boston’s leadership,
lenders have been trained to work with particularly challenging areas
– such as the hospitality industry, which is vital to the economic
success of York County.
“I am very honored to be recognized nationally for our work in
Maine,” notes Lorraine Boston. “I couldn’t have received this
award without the teamwork of everyone at Kennebunk Savings Bank who
consistently and proactively support our efforts to help the
small businesses throughout York County.”
U.S. Banker created their ranking using factors indicating
consistent performers and industry mentors. “This ranking outlines
the progressive thinking and professional achievements of 50
outstanding women in financial services,” writes Holly Sraeel,
editorial director of U.S. Banker in the letter informing
Boston of her inclusion on the list. “It reflects each
individual’s
financial performance, corporate ethics, years in business, management
style, charitable work, community ties and influence within the
honoree’s organization and industry.”
Kennebunk Savings Bank, York County’s leading full service financial
institution for business, offers a variety of personal and business
banking products and insurance. With eleven banking offices from
Sanford to Kittery, the past winner of the Maine Businesses for Social
Responsibility Eagle Feather Award has over $550 million in assets.
Kennebunk Savings Bank offers commercial loans and lines of credit as
well as business banking products including relationship checking and
online banking and bill paying. It also offers commercial insurance
products through its subsidiary, Morris Insurance and financial
planning and
investments through Kennebunk Financial Services.
For more information contact:
Heather Harris
Community Relations Officer
Kennebunk Savings Bank
1-800-339-6573 |
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