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.
Wayne Bank Continues Lacawac Sanctuary Sponsorship for 2024 Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to announce that Wayne Bank will once again support Lacawac Sanctuary with a Corporate Sponsorship of $1,000.00. According to Mr. Donnelly, “We are so happy to continue our sponsorship of the sanctuary for 2024. This partnership allows us to help preserve the beauty of this natural habitat within our community and ensure the continuation of Lacawac’s beneficial programs and environmental education.” 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. Memberships are also a critical part of Lacawac Sanctuary’s success in bringing science and nature programming to people of all ages. As a member-supported organization, Lacawac Sanctuary Environmental Education Center relies solely on grants and private donations to help deliver year-round environmental education to the whole community. For more information, please visit https://www.lacawac.org/.
Wayne Bank Announces 2024 First Quarter Earnings James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp and its subsidiary, Wayne Bank, announced net income of $4,433,000 for the three months ended March 31, 2024, a decrease of $1,349,000, from net income of $5,782,000 for the three months ended March 31, 2023. The decrease was due primarily to a $1,383,000 decrease in net interest income and a $1,296,000 increase in total other expenses. Earnings per share on a fully diluted basis were $0.55 for the three-month period ended March 31, 2024, compared to $0.71 in the three-month period ended March 31, 2023. The annualized return on average assets was 0.80% in the first quarter of 2024 and the annualized return on average equity was 9.79%, compared to 1.13% and 13.61%, respectively, in the first quarter of 2023.
Wayne Bank CEO to Begin Term on Federal Reserve Bank of Philadelphia Council The Federal Reserve Bank of Philadelphia today announced a new chair and two new members of its Community Depository Institutions Advisory Council (CDIAC), including James Donnelly, CEO of Wayne Bank. James Donnelly, president and CEO of Wayne Bank and Norwood Financial Corp, and Jeffrey Kapsar, president and CEO of Mifflinburg Bank and Trust Company, today began three-year terms on the CDIAC. Jeffrey Stopko, president and CEO of AmeriServ Financial, Inc., has been appointed as chair to represent the Third Federal Reserve District on the Federal Reserve Board’s CDIAC for 2024. Stopko has been a member of the Philadelphia Fed’s advisory council since 2021. About James Donnelly Donnelly has been president and CEO of Wayne Bank and Norwood Financial Corp, headquartered in Honesdale, PA, since May 2022. Donnelly also serves on the board of directors for Wayne Bank and Norwood Financial Corp, and on the Leadership, Officers Loan, Asset Quality, ALCO, and 401(k) Committees. Donnelly previously worked at Bangor Savings Bank, Machias Savings Bank, and KeyBank, where he started his banking career in 1991.
Wayne Bank Announces Cash Dividend James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market – NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors has declared a $0.30 per share quarterly cash dividend payable May 1, 2024, to shareholders of record as of April 15, 2024. The $0.30 per share represents an increase of 3.5% over the cash dividend declared in the first quarter of 2023. Mr. Donnelly commented, “The Board is extremely pleased to provide our shareholders with this quarterly cash dividend. It reflects the Company’s financial strength and strong capital position which has contributed to our solid performance.”
Wayne Bank’s Holly DiLeo Elected to Pennsylvania Builders Association Board of Directors Holly DiLeo, Wayne Bank Mortgage Loan Officer, was elected to the PA Builders Association Board of Directors, at their recent “Winter Meeting and Installation Gala” in Pittsburgh, PA, on March 14-16 at the Pittsburgh Marriot North. The Pennsylvania Builders Association (PBA) is a non-profit statewide trade association chartered in 1945. Affiliated with the National Association of Home Builders and a network of 30 local associations across the state of Pennsylvania, the PBA is a unified voice for both the home building industry and the housing consumer. Their core purpose is to promote and protect the home building industry through teamwork, education, advocacy, and membership. DiLeo joined Wayne Bank in early 2023 and has over six years of experience in the mortgage lending industry. According to Wayne Bank Vice President & Residential Mortgage Sales Manager, Derek Bellinger, “For over 150 years, Wayne Bank has been helping the community grow, and we’re excited that Holly can bring her experience and knowledge to represent our local builders in Northeast Pennsylvania, particularly in Luzerne and Monroe Counties. We’re also eager for her to learn more about the policies and key concerns that are important to builders across the state of Pennsylvania.” DiLeo is a member of the Scranton Chamber of Influencers and NeighborWorks of NEPA (Northeastern PA). She is also a Dress for Success Lackawanna Board Member, and a Pocono Leaders of Tomorrow Committee Member. DiLeo resides in Greentown, PA, with her husband, Kyle. They have one daughter.
