of directors and established a wide array of bank services, following the model of the commercial banks. He expanded Portland Savings’ portfolio of commercial loans and introduced innovative retail products such as money market certificates. Between 1965 and 1981 the bank grew from 2 to 13 branches across Maine, with assets increasing from $63 to $294 million People’s Savings Bank People's Savings was founded in 1875 in Lewiston, Maine. A conservative but successful bank, it prospered with the local mill economy. Early in the twentieth century the bank innovated by opening $1 accounts for all babies born in the area, on condition that there were no withdrawals for ten years. The policy lasted into the 1970s. Christmas and vacation clubs were also established. Local banks suffered greatly from the decline of the mill economy in the 1920s and 1930s, but enjoyed a recovery during World War II, with industrial renewal and a defense bond business. In the post-war period People's helped finance the new industries that were gradually replacing textiles in the local economy. Rockland Savings Bank/Heritage Savings Bank Rockland Savings was established in 1868 in Rockland, Maine, (following attempts in 1855 and 1861). In 1974, it changed its name to the Heritage Savings Bank. In 1978, it merged with: Penobscot Savings, Bangor, founded in 1869 and a pioneer in savings for children in association with the local school system. A “small conservative bank in a small conservative city,” it did not expand its branch system until 1961, when a second office was opened. Waterville Savings, founded in Waterville in 1869. Franklin County Savings Bank & Trust Co. Franklin County Savings Bank was founded in 1899 in St. Albans, Vermont. The bank maintained the name Franklin County Bank until the merger with Lamoille County Bank & Trust Company (1875) in the early 1970s. After the merger, the bank adopted a new name, Franklin Lamoille Bank. The bank also incorporated a holding company named Banknorth. Woodstock National Bank was founded in 1802 and merged into the Howard Bancorp. The Woodstock National Bank maintained its name until June 1999 when it merged into its sister bank First Vermont Bank & Trust Company. Granite Savings Bank & Trust Company The Granite Saving Bank & Trust Company was founded in Barre, Vermont in 1885. The bank's original office, located on North Main Street in Barre, is now the home for a senior citizen group.