Member News

FSB Purchases $100,000 in CDFA Tax Credits to support Franklin Revitalization
Franklin, NH
02/06/2017 02:09 PM

Franklin Savings Bank announced today that it has purchased $100,000 in CDFA tax credits to support PermaCityLife, a nonprofit organization that is leading the revitalization efforts in downtown Franklin. The tax credits will be used to support façade improvements to buildings acquired by PermaCityLife in 2016.

"We are pleased to support PermaCityLife with their revitalization efforts in downtown Franklin,” said Ronald Magoon, President & CEO. “This group has been instrumental in the restoration of buildings which have attracted new businesses to the area, including a unique coffee shop, a made in New Hampshire retail store, a co-working center and a whitewater outfitter. There really is a true sense of pride and community in the city and we are very pleased to be a part of it.”

The bank purchased 25% of the total allocation of $400,000 in tax credits awarded by the Community Development Finance Authority (CDFA). CDFA tax credits enable businesses to partner with nonprofits to support worthy projects in their communities.


Established in 1869, Franklin Savings Bank is an independent, mutually-owned community bank, offering a full array of commercial lending, retail banking and investment services throughout the Central Lakes Region and southern New Hampshire. Headquartered in Franklin, the Bank has offices in Bristol, Boscawen, Tilton, Laconia and Gilford, as well as an office in Bedford for business lending. Franklin Savings Bank also offers investment, insurance and financial planning services through its wholly-owned subsidiary, Independence Financial Advisors, from offices in Franklin, Bedford, Nashua and Rochester, New Hampshire. As a recognized leader in providing the latest in financial services technology, Franklin Savings Bank remains committed to serving the needs of businesses, families and the communities it serves, through a dedicated team of employees, a diverse line of financial products and services, and continued investment in emerging technology.


You can learn more about Franklin Savings Bank by calling 1.800.372.4445, or visiting, or following the bank on Facebook, LinkedIn, Twitter and YouTube.

Dawn Beers
(603) 934-8358
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