Ledyard names retired bank executive to board of directors

Charles Petersen

Charles M. Petersen, retired president, CEO and director of Biddeford Savings Bank in Maine, has joined the board of directors at Ledyard Financial Group, the holding company for Ledyard National Bank.

“We are delighted that Charles will be serving our organization, given his extensive experience in New England banking,” said Ledyard chair Bruce King. “That, combined with his deep understanding of our local communities and hands-on leadership experience, will be true assets for Ledyard and its board.”

During Petersen’s 10-year tenure at Biddeford Savings, he oversaw consistent growth in assets and expanded and modernized the bank’s locations, branch design and digital banking platform, while upgrading cost-saving technology infrastructure. He also was a key player in the 2016 merger of Biddeford Savings with Mechanics Savings Bank, creating Maine Community Bancorp, a two-bank mutual holding company.

An active civic leader, Petersen has held many leadership roles for local nonprofits, including Sweetser Home for Children in Saco, Maine, United Way of York County, and Heart of Biddeford. He is a graduate of the University of North Carolina and holds an MBA from UNC's Kenan-Flagler Business School.