Northeast Bank Announces CFO Transition; Richard Cohen Stepping Down to Pursue New Opportunities, Effective October 31, 2025; Santino Delmolino Appointed CFO, Effective October 31, 2025
Northeast Bank (NASDAQ: NBN) announced a significant leadership transition as CFO Richard Cohen will step down effective October 31, 2025, to pursue other opportunities. The bank has appointed Santino Delmolino, currently serving as Corporate Controller, as the new CFO.
Delmolino brings substantial financial expertise from his previous roles at Fidelity Investments and KPMG. He holds degrees in Business Administration and Accounting from Western New England University and is a certified public accountant licensed in Massachusetts.
Cohen will continue in his role through the transition period, ensuring continuity in the bank's financial leadership. The change comes as Northeast Bank continues to operate its personal and business banking services in Maine through seven branches, alongside its National Lending Division and ableBanking online savings division.
Northeast Bank (NASDAQ: NBN) ha annunciato una significativa transizione dirigenziale poiché il CFO Richard Cohen si dimetterà con effetto dal 31 ottobre 2025, per inseguire altre opportunità. La banca ha nominato Santino Delmolino, attualmente Corporate Controller, come nuovo CFO.
Delmolino porta una notevole esperienza finanziaria dai suoi ruoli precedenti presso Fidelity Investments e KPMG. Possiede lauree in Amministrazione Aziendale e Contabilità presso Western New England University ed è un dottore commercialista autorizzato nel Massachusetts.
Cohen continuerà nel suo ruolo durante il periodo di transizione, garantendo la continuità della leadership finanziaria della banca. Il cambiamento avviene mentre Northeast Bank continua a offrire i servizi di banking personale e aziendale in Maine attraverso sette filiali, insieme al National Lending Division e alla divisione online di risparmio ableBanking.
Northeast Bank (NASDAQ: NBN) anunció una significativa transición de liderazgo, ya que el director financiero Richard Cohen dejará su cargo a partir del 31 de octubre de 2025 para perseguir otras oportunidades. La entidad ha designado al Santino Delmolino, que actualmente se desempeña como Corporate Controller, como nuevo CFO.
Delmolino aporta una amplia experiencia financiera gracias a sus anteriores roles en Fidelity Investments y KPMG. Posee títulos en Administración de Empresas y Contabilidad de Western New England University y está certificado como contador público en Massachusetts.
Cohen continuará en su cargo durante el periodo de transición, asegurando la continuidad del liderazgo financiero de la banca. El cambio se produce mientras Northeast Bank continúa operando sus servicios de banca personal y de empresas en Maine a través de siete sucursales, junto con su National Lending Division y la división de ahorros en línea ableBanking.
Northeast Bank (NASDAQ: NBN)는 CFO 리차드 코헨이 2025년 10월 31일부로 사임하여 다른 기회를 모색한다는重要한 리더십 전환을 발표했습니다. 은행은 현재 Corporate Controller로 재직 중인 Santino Delmolino를 새로운 CFO로 임명했습니다.
Delmolino는 Fidelity Investments와 KPMG에서의 이전 직무 경험으로 풍부한 재무 전문지식을 보유하고 있습니다. 그는 Western New England University에서 경영학 및 회계학 학위를 보유하고 있으며 매사추세츠주에서 공인회계사(CPA) 자격을 갖고 있습니다.
코헨은 전환 기간 동안 직무를 계속 수행하여 은행의 재무 리더십의 연속성을 보장할 것입니다. 이 변화는 Northeast Bank가 메인주에서 일곱 지점을 통해 개인 및 기업 은행 업무 서비스를 운영하고, National Lending Division과 ableBanking 온라인 예금 부문을 함께 운영하는 가운데 이루어졌습니다.
Northeast Bank (NASDAQ: NBN) a annoncé une transition de leadership importante, car le directeur financier Richard Cohen quittera ses fonctions à compter du 31 octobre 2025 afin de poursuivre d'autres opportunités. La banque a nommé Santino Delmolino, actuellement en poste en tant que Corporate Controller, comme nouveau CFO.
Delmolino apporte une expertise financière importante issue de ses précédentes fonctions chez Fidelity Investments et KPMG. Il détient des diplômes en administration des affaires et en comptabilité de l'Université Western New England et est expert-comptable certifié agréé dans le Massachusetts.
Cohen restera en fonction pendant la période de transition, assurant la continuité du leadership financier de la banque. Ce changement intervient alors que Northeast Bank continue d’exercer ses services bancaires personnels et commerciaux dans le Maine à travers sept agences, aux côtés de la National Lending Division et de la division d’épargne en ligne ableBanking.
Northeast Bank (NASDAQ: NBN) hat eine bedeutende Führungstransition angekündigt, da CFO Richard Cohen gemäß 31. Oktober 2025 zurücktreten wird, um andere Möglichkeiten zu verfolgen. Die Bank hat Santino Delmolino, der derzeit als Corporate Controller tätig ist, zum neuen CFO ernannt.
Delmolino bringt umfangreiche Finanzexpertise aus seinen früheren Positionen bei Fidelity Investments und KPMG mit. Er besitzt Abschlüsse in Betriebswirtschaft und Rechnungswesen von der Western New England University und ist als Certified Public Accountant in Massachusetts zugelassen.
Cohen wird während der Übergangsphase in seiner Rolle verbleiben, um die Kontinuität der finanziellen Führung der Bank sicherzustellen. Die Veränderung erfolgt, während Northeast Bank weiterhin Privat- und Geschäftskundengeschäfte in Maine über sieben Filialen betreibt, neben der National Lending Division und der ableBanking Online-Sparen-Division.
Northeast Bank (NASDAQ: NBN) أعلن عن انتقال قيادي هام حيث سيتنحى المدير المالي ريتشارد كوهين اعتباراً من 31 أكتوبر 2025، لمتابعة فرص أخرى. لقد عيّنت البنك Santino Delmolino، الذي يشغل حالياً منصب Corporate Controller، كـ CFO الجديد.
يأتي Delmolino بخبرة مالية كبيرة من مناصبه السابقة في Fidelity Investments وKPMG. وهو يحمل درجات في إدارة الأعمال والمحاسبة من Western New England University وهو محاسب عام معتمد مرخّص في ماساتشوستس.
سيستمر كوهين في وظيفته خلال فترة الانتقال لضمان استمرارية القيادة المالية للبنك. ويأتي هذا التغيير بينما يواصل Northeast Bank تقديم خدماته المصرفية للأفراد والشركات في مين عبر سبع فروع، إلى جانب قسم National Lending Division وقسم ableBanking للادخار عبر الإنترنت.
Northeast Bank (NASDAQ: NBN) 宣布了重大的领导层变动，高级财务官 Richard Cohen 将于2025年10月31日辞职，去寻求其他机会。银行已任命当前担任 Corporate Controller 的 Santino Delmolino 为新的 CFO。
Delmolino 曾在 Fidelity Investments 和 KPMG 担任职务，具备丰富的金融专业知识。他在 Western New England University 获得工商管理和会计学学位，并且在马萨诸塞州获得注册会计师（CPA）执照。
Cohen 将在过渡期间继续履职，确保银行财务领导层的连续性。此次变动发生在 Northeast Bank 继续在缅因州通过七家分行提供个人和商业银行服务，以及其 National Lending Division 和 online 储蓄 division ableBanking 一同运营。
- Internal promotion demonstrates strong succession planning and talent development
- New CFO brings relevant experience from major firms (Fidelity Investments, KPMG)
- Orderly transition period with one-month overlap ensures operational continuity
- Loss of experienced CFO who contributed to strategic and financial goals
- Potential disruption in financial leadership during transition period
PORTLAND, Maine, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank” or “Northeast”) (NASDAQ: NBN), a Maine-based bank, announced that Richard Cohen has informed the Bank that he will step down as Chief Financial Officer to pursue other opportunities. Mr. Cohen will continue in his role through October 31, 2025. Santino Delmolino, who currently serves as the Corporate Controller of the Bank, will assume the role of CFO, effective October 31, 2025.
“Richard has been a remarkable leader throughout his tenure at Northeast, helping to position our bank for the future,” said Rick Wayne, President and Chief Executive Officer of the Bank. “Richard has led a very talented finance team that is focused on executing our strategy and delivering long-term value for our shareholders. On behalf of the entire Northeast organization, I thank him for his invaluable contributions. We are fortunate to have Richard’s ongoing support through October 31st and wish him all the best in the next chapter of his career.”
“I am exceptionally privileged to have been part of the Northeast leadership team, and my decision to pursue other opportunities was not easy,” said Mr. Cohen. “I am proud of the progress we’ve made against our strategic and financial goals during my time as CFO, and I am confident in the Bank’s ability to continue to successfully execute its strategy. I look forward to working alongside Rick and our dedicated finance and accounting team over my remaining term, and to proudly following Northeast’s long-term success.”
Mr. Delmolino is an experienced financial executive with deep knowledge of the Bank’s business and leadership experience at financial services companies and public accounting firms. Prior to joining Northeast in 2024, Mr. Delmolino held the positions of Director and Senior Manager in the accounting department at Fidelity Investments. Prior to that, he progressed within KPMG's audit practice, holding the position of Senior Manager most recently. Mr. Delmolino earned a Bachelor of Science degree in Business Administration and a Master of Science degree in Accounting from Western New England University. He is a certified public accountant, licensed with the Commonwealth of Massachusetts.
Mr. Wayne continued, “We are thankful to have a leader of Santino’s caliber step into the CFO role after Richard’s departure.”
About Northeast Bank
Northeast Bank (NASDAQ: NBN) is a bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Federal Deposit Insurance Corporation (“FDIC”), in our annual reports to our shareholders, in press releases and other written materials, and in oral statements made by our officers, directors, or employees. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters. Although the Bank believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance and are subject to known and unknown risks, uncertainties, contingencies, and other factors. You should not place undue reliance on our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to significant risks, uncertainties, and other factors which are, in some cases, beyond the Bank’s control. The Bank’s actual results could differ materially from those expressed or implied by such the forward-looking statements as a result of, among other factors, changes in interest rates and real estate values; changes in employment levels, and general business and economic conditions on a national basis and in the local markets in which the Bank operates; changes in customer behavior due to changing business and economic conditions (including the impact of actual or threatened tariffs imposed by the United States and foreign governments, inflation, and concerns about liquidity) or legislative or regulatory initiatives; the possibility that future credit losses are higher than currently expected due to changes in economic assumptions, customer behavior, or adverse economic developments; turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in loan defaults and charge-off rates; changes in the value of securities and other assets, adequacy of credit loss reserves, or deposit levels necessitating increased borrowing to fund loans and investments; changes in, and evolving interpretations of, existing and future laws, rules, and regulations; operational risks including, but not limited to, cybersecurity, fraud, natural disasters, climate change, and future pandemics; the risk that the Bank may not be successful in the implementation of its business strategy; the risk that intangibles recorded in the Bank’s financial statements will become impaired; changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Bank’s Annual Report on Form 10-K, as updated in the Bank’s Quarterly Reports on Form 10-Q and other filings submitted to the FDIC. These statements speak only as of the date of this release and the Bank does not undertake any obligation to update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events.
For More Information:
Richard Cohen, Chief Financial Officer
Northeast Bank, 27 Pearl Street, Portland, Maine 04101
207.786.3245 ext. 3249
www.northeastbank.com
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