Aroostook Savings & Loan Selects Curt Paterson as President & CEO

In January 2023, Aroostook Savings & Loan (“AFSL”) retained S&W to manage the search and selection process for its next President & CEO.

As the only bank headquartered in Aroostook County, Maine, AFSL has been serving the communities of the state’s northernmost county for almost 90 years. Founded during the Great Depression, the Bank’s mission was then, and remains today, to provide area residents with the credit they need to buy or build a home. The bank was formed as a mutual savings association, meaning that it is owned and governed by its depositors, and today remains committed to both its roots as a source of financial stability for area consumers and small businesses as well as to its independence and mutual ownership structure. As a pillar in the economy of Aroostook County, the selection of the right President & CEO was critical to the bank, its dedicated employees, and its loyal customer base. The AFSL President & CEO search was managed by Cameron Boyd, Managing Partner, and Moriah Maron, Consultant.

“It was an honor to partner with Aroostook Savings & Loan on their CEO search. The role that this bank plays in the communities it serves and in the lives of its customers is really very special.” Said Boyd “Curt’s passion for The County-the people and the businesses that call it home as well as his appreciation for both the legacy of the bank and its potential make this an exciting hire.”

Following an exhaustive executive search focused both within financial services and outside of the industry, AFSL’s nominated Selection Committee chose Curt Paterson as the bank’s next President & CEO. A native of Aroostook County and current resident of Mapleton, Maine, Mr. Paterson’s diverse career has included roles both as a small business owner and as an executive for an area financial institution. For 12 years, he served consumer and small business customers as the owner of Paterson Payroll, an accounting and tax preparation business that became part of the service offerings of Farm Credit East. For the past 6 years, he has served as Chief Financial Officer and a member of the senior leadership team of a Presque Isle-based credit union. The bank’s Selection Committee ultimately decided that Mr. Paterson demonstrated the perfect mixture of technical banking acumen, market expertise, and cultural fit to lead the organization into its next chapter.  The AFSL President & CEO search was managed by Cameron Boyd, Managing Partner, and Moriah Maron, Consultant.