Wayne Bank Announces New Executive Vice President and Chief Financial Officer Wayne Bank announces new executive vice president and chief financial officer. James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (the “Company”) (NASDAQ Global Market: NWFL) and its wholly owned subsidiary Wayne Bank (the “Bank”), announced that the Board of Directors had appointed John M. McCaffery as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective as of June 24, 2024, the day he commences employment with the Company. McCaffery joins the Company with over 30 years of leadership and finance experience in various financial institutions, including two stints as CFO. His most recent position was Senior Vice President and Treasurer for Metropolitan Commercial Bank. Prior to that position, McCaffery served as Executive Vice President and Chief Financial Officer for Newtek Bank, N.A. and Bridge Bancorp. Upon the merger between Bridge Bancorp and Dime Community Bancorp, McCaffery was appointed Senior Executive Vice President and Chief Risk Officer. McCaffery brings a wealth of experience and expertise in capital raising, M&A transactions and integrations, growth and restructuring, regulatory and financial compliance, and development of high performing teams. He holds a Bachelor of Business Administration in Banking & Finance from Hofstra University. “We are very excited to have John join the Company,” stated Donnelly. “He is a seasoned executive with a proven track record of success providing finance leadership at multi-billion-dollar asset size financial institutions. He has previously served as CFO for two banks, one smaller and one larger than Wayne Bank, which gives him great insight into where we’ve come from and where we’re striving to go. We look forward to the contributions he will bring to our company as we continue to grow and expand.” William S. Lance, currently Executive Vice President and Chief Financial Officer for the Company and the Bank, announced his plans to retire earlier this year. On June 24, 2024, he will transition into the role of Executive Vice President and Chief Strategic Officer in order to assist with the transition and work on other strategic projects until his retirement on August 2, 2024. Norwood Financial Corp is the parent company of Wayne Bank, which operates from fourteen offices throughout Northeastern Pennsylvania and sixteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. The Company’s stock trades on the Nasdaq Global Market under the symbol “NWFL”.
Wayne Bank Sponsors New Teaching Laboratory Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to announce that Wayne Bank has sponsored the new Teaching Laboratory at Lacawac Sanctuary’s William E. Chatlos Environmental Education Center with a $25,000 donation. Lacawac Sanctuary Field Station and Environmental Education Center is an independent, non-profit, environmental education organization located on the shore of Lake Wallenpaupack in the Northern Poconos. The historic sanctuary is dedicated to inspiring lifelong connections to nature and shaping the next generation of scientists and earth stewards through research, education, and preservation. The new Teaching Laboratory houses a wet laboratory for all ages to learn about ecology with hands-on-activities, modern equipment, and up-to-date resources. According to Mr. Donnelly, “Wayne Bank is delighted to sponsor the new Teaching Laboratory that provides incredible opportunities for students to learn about their environment. Lacawac Sanctuary is a local treasure and we hope that the Lab will be a valuable resource for future generations of scientists and environmental conservationists.” To fulfill its mission of Research, Education and Preservation, Lacawac offers environmental education and programs to the community, by communicating the core values of environmental responsibility, citizenship, inclusiveness, and the pursuit of knowledge. Lacawac works with an association of colleges and universities to provide research partnerships and a pristine location for undergrad and graduate students. Visitors to the 550-acre nature preserve can enjoy a rich outdoor education and exposure to a blend of diverse habitats including wetlands, open fields, forests, and lakes. Additionally, the sanctuary provides nine miles of hiking trails open to the public, free of charge, from dawn to dusk year-round.
Wayne Bank Announces Continued Support of Public Libraries Jim Donnelly, President and CEO of Wayne Bank, is pleased to announce Wayne Bank will once again support the Wayne Library Alliance (WLA), with a corporate donation through the Educational Improvement Tax Credit Program (EITC) of $10,000. The WLA is a central organization created to manage and coordinate operations and services between independent libraries for financial support and includes seven member libraries in Wayne County, PA. The gift was made possible on behalf of the Educational Improvement Tax Credit Program offered by the Commonwealth of Pennsylvania, acting through the Department of Community and Economic Development. According to Mr. Donnelly, “We are thrilled for the opportunity to continue donating to the Wayne Library Alliance through the EITC program this year. The WLA is entirely dependent upon donations, as well as county and state funding, to provide their services to the libraries and patrons, which include educational programs and online services. We are honored to support its mission to provide accessible educational resources to our community. Our continued partnership reflects our dedication to investing in the future of our neighborhoods.” For more information on ways to support your local public library, please visit www.waynelibraries.org.
Wayne Bank Honored with Community Award Wayne Bank has been honored with one of the prestigious Pillar of the Community Awards by FHLBank Pittsburgh. This recognition is a testament to the bank’s unwavering commitment to community service and excellence in local engagement. Wayne Bank received the award at their Member Appreciation Event in Philadelphia on June 10th, 2024, and celebrated alongside other distinguished recipients. Pillar of the Community Awards are presented to member financial institutions that have demonstrated an outstanding commitment to community development. Awardees have also demonstrated exemplary efforts and effective use of FHLBank’s community products. This award is FHLBank’s highest organizational honor and is presented annually to select FHLBank members in recognition of their commitment to community revitalization. “We are deeply honored to receive this award,” said Jim Donnelly, CEO of Wayne Bank. “Our commitment to the community is at the heart of everything we do! This recognition inspires us to continue our efforts to make a positive difference in the communities we serve.” Wayne Bank has a long history of community involvement, including making close to 400 contributions to local schools, food banks, first responders, and charitable organization throughout the year in 2023. Their generous and caring employees have participated in countless community events including parades, fundraisers, races, and many more. Along with their community involvement, Wayne Bank was chosen as a Pillar of the Community because of their commitment to providing their communities they serve with innovative banking technologies and tools. By utilizing the First Front Door program, they have funded households and provided down payment and closing cost assistance to eligible first-time homebuyers. By partnering with the Home4Good program, they’ve supported over twenty projects and have helped the homeless or people at risk of homelessness by providing grants to fund the initiative of securing homes for those in need. Lastly, they’ve supported small businesses in their region through Banking on Business and the Banking on Business Inclusion and Equity Fund. These funds were used in financing the startup, maintenance, or expansion of a business, while also utilizing the Community Lending Program to create commercial developments and a hotel.
Wayne Bank Promotes Among its Wealth Management and Trust Division Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to announce the promotion of Trust Operations Officer, Marianne McConeghy, to Assistant Vice President. McConeghy joined the Bank in 2014 as a Trust Associate and was promoted to Trust Operations Officer in 2016. With over 35 years of banking experience, McConeghy oversees the daily operations of the Wealth Management and Trust Services Division of Wayne Bank. Mr. Donnelly stated, “Marianne’s extensive knowledge and experience in wealth management and trust have made her well-deserving of this promotion. She continues to build strong customer relationships while giving exceptional customer service to our current client base.” McConeghy holds an associate degree from Keystone College. She resides in Waymart, PA with her husband, Tom. They have one daughter.
Wayne Bank Promotes Collin Ennis to Assistant Vice President Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to announce the promotion of Collin Ennis to Assistant Vice President. According to Mr. Donnelly, “I’m so proud to announce this promotion of Collin. He has continuously demonstrated dedication, expertise, and leadership within our commercial loan department. This promotion is a testament to his hard work, innovative thinking, and commitment to providing outstanding service to his customers. I am confident that he will continue to contribute to our success and help us achieve our strategic goals.” Collin joined Wayne Bank in 2022 and currently serves as a Commercial Loan Officer where he is responsible for providing exceptional customer service, initiating new business, and deepening current business relationships in his service areas of Wayne and Pike counties. He is a graduate of the University of Scranton, where he earned a Bachelor of Science Degree in Finance. He is in the process of continuing his education at the PA Banker’s Advanced School of Banking. Collin resides in Pleasant Mount where he is a member of the Honesdale Jaycees. Wayne Bank is a subsidiary of Norwood Financial Corp., Member FDIC, and is located in Honesdale, Pennsylvania. The Bank has 29 Community Offices serving Wayne, Pike, Monroe, Lackawanna, and Luzerne Counties in Pennsylvania, along with Delaware, Sullivan, Otsego, Ontario, and Yates Counties in New York, including those offices operating under the Bank of Cooperstown and Bank of the Finger Lakes brands. The stock trades on the NASDAQ Global Market under the symbol— NWFL.
Wayne Bank Promotes John Baker to Senior Vice President Jim Donnelly, President and CEO of Wayne Bank, is pleased to announce the promotion of John Baker to Senior Vice President. According to Mr. Donnelly, “I’m thrilled to announce the promotion of John to Senior Vice President. His exceptional leadership and innovative vision have been instrumental in driving our IT department’s success. He has instilled a real sense of service in his team. Under John’s leadership, the IT Team at Wayne Bank delivers exceptional professionalism and service with a smile.” John joined Wayne Bank in 2010 and currently serves as the Bank’s Information Technology Manager. John is responsible for overseeing the administration of the Bank’s network infrastructure, telephone systems, and all related software programs. He holds an Associate Degree in Computer Information Technology from Johnson College. John resides in Hawley with his wife, Amy, and daughter, Adalynn.
Wayne Bank Welcomes New Vice President and Manager Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to introduce Deborah Kennedy as Vice President and PA Retail Banking Market Manager. According to Mr. Donnelly, “We are incredibly excited to welcome Deb to our team. She brings a wealth of experience and knowledge in the banking industry which will be invaluable as we continue to expand our footprint and enhance our services. I am confident that Deborah’s leadership and vision will play a crucial role in driving our growth and providing exceptional customer service.” In this role, Mrs. Kennedy will direct and drive the Bank’s profitability, development, and growth in the PA Market. She will manage and coordinate the delivery and support of all bank services, including loans and other banking products. Mrs. Kennedy has over twenty years of banking experience and holds a Bachelor of Arts in Communication from Kings College and a Master’s in Business Administration from Capella University. She is very passionate about giving back to her community and is a Board Member of the Rotary Club of Scranton and the Abington Heights Civic League, as well as a Co-Chair of the Scranton Diocese Catholic Women’s Conference. Mrs. Kennedy resides in South Abington Township with her husband, John. They have three children and five grandchildren.
Wayne Bank Holds Annual Meeting of Shareholders The 153rd Annual Meeting of Shareholders of Norwood Financial Corp, parent company of Wayne Bank, was held in person on Tuesday, April 23, 2024, at 6th & River, Honesdale, Pennsylvania. Matters presented to, and approved by, stockholders were the re-election of company directors Lewis J. Critelli, James O. Donnelly, and Meg L. Hungerford, the ratification of S.R. Snodgrass, P.C., as the Company’s independent auditors for the fiscal year ending December 31, 2024, and the approval of the Norwood Financial Corp 2024 Equity Incentive Plan. The Annual Meeting also included presentations to shareholders from President and Chief Executive Officer, James O. Donnelly and Executive Vice President and Chief Financial Officer, William S. Lance. Chairman Lewis J. Critelli welcomed shareholders and introduced the Directors present at the meeting. He then turned the meeting over to Mr. Donnelly, who conducted the formal business portion of the meeting. Mr. Lance provided shareholders with a detailed report of the Company’s financial results for the 2023 fiscal year. Among the highlights of the Company’s performance in 2023 cited by Mr. Lance, was loan growth of 8.8%, deposit growth of 3.9%, and an increase in cash dividends paid to shareholders. Mr. Donnelly’s address included the results for the first quarter of 2024 and a summary of the opportunities in many of the Company’s markets. Mr. Donnelly noted first quarter earnings were $4.4 million, earnings per share (diluted) were $0.55 per share, total loans increased 4.5% annualized, total deposits increased 9.8% annualized, and the net interest margin was 2.79%. As of March 31, 2024, the Company had total assets of $2.3 billion, total loans outstanding of $1.6 billion, deposits of $1.8 billion, and stockholders’ equity of $181.2 million.
Wayne Bank Promotes Jamie Polley to Payroll Officer Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to announce the promotion of Jamie Polley to Payroll Officer. According to Mr. Donnelly, “Jamie is an asset to the Human Resources department. Her strong work ethic, attention to detail, and proficiency in managing the accuracy and efficiency of our payroll operations has earned her the trust and respect of her colleagues. Jamie’s commitment to excellence contributes to the success of our organization and she is well-deserving of this promotion.” Jamie holds a bachelor’s degree in psychology from The PennsylvaniaState University and a master’s degree in human resources administration fromthe University of Scranton. Jamie joined Wayne Bank in 2014 and has 15 years of Human Resources experience. In her current role, Jamie oversees all employee payroll, employee records, and calculates employee benefits and compensation. She resides in Lake Ariel with her two children, Mia and Frank.
