Leadership Changes at Northeast Bank: A New CFO Takes Charge
Northeast Bank Announces Transition in CFO Position
Northeast Bank (NASDAQ: NBN), based in Portland, Maine, has made a significant announcement regarding a change in leadership within its executive team. Richard Cohen, the current Chief Financial Officer, has decided to step down from his position to pursue new opportunities. His departure is effective October 31, 2025, and the bank has appointed Santino Delmolino, who is currently serving as the Corporate Controller, to take over the role of CFO on the same date.
Celebrating Leadership and Contributions
Rick Wayne, the President and Chief Executive Officer of Northeast Bank, expressed his gratitude for Cohen’s impactful tenure, emphasizing his exceptional leadership. Wayne stated, “Richard has been a remarkable leader throughout his tenure at Northeast, helping to position our bank for the future.” Under Cohen's guidance, the finance team has been dedicated to executing the bank's strategy and delivering long-term value to shareholders. Wayne also noted the bank's appreciation for Cohen's ongoing support until his official departure.
Santino Delmolino: A Leader Ready to Step Up
Santino Delmolino brings a wealth of experience to his new role as CFO. He has a deep understanding of Northeast Bank’s operations and has previously held notable positions in the finance sector. Before joining Northeast in the year 2024, Delmolino worked as a Director and Senior Manager in the accounting department at Fidelity Investments. His prior experience also includes significant roles at KPMG, where he advanced through their audit practice.
Delmolino, who is a certified public accountant and holds both a Bachelor of Science degree in Business Administration and a Master of Science degree in Accounting from Western New England University, is well-equipped to take on the challenges of the CFO role. Rick Wayne further commented on the transition, stating, “We are thankful to have a leader of Santino’s caliber step into the CFO role after Richard’s departure.”
About Northeast Bank and Its Services
Northeast Bank prides itself on providing a variety of financial services to the community and beyond. Through its seven branches, the bank offers both personal and business banking solutions tailored to meet the needs of its clients in the Maine market. Additionally, its National Lending Division operates on a broader scale, delivering commercial loans throughout the country. Another innovative offering, ableBanking, provides online savings products to consumers across the nation. With ongoing efforts to enhance banking experiences and expand its services, Northeast Bank is committed to maintaining its reputation as a reliable financial institution.
Frequently Asked Questions
Who is the new CFO of Northeast Bank?
Santino Delmolino has been appointed as the new Chief Financial Officer, effective October 31, 2025.
Why is Richard Cohen stepping down?
Richard Cohen has decided to step down to pursue new opportunities after his significant contributions to the bank.
When will the transition take place?
The transition of CFO will officially occur on October 31, 2025.
What is Santino Delmolino's background?
Santino Delmolino has extensive experience in finance, having worked at Fidelity Investments and KPMG. He holds advanced degrees in business and accounting.
What services does Northeast Bank provide?
Northeast Bank offers personal and business banking services, as well as commercial loans and online savings products through ableBanking.
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