Business
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
PORTLAND, Maine, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank” or “Northeast”) (NASDAQ: NBN), a Maine-based bank, announced that Richard Cohen
About this update from Northeast Bank
[{"type":"text","content":"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 N...