Northeast Bank announces CFO transition with Richard Cohen departing

Northeast Bank (NASDAQ: NBN) announced that Chief Financial Officer Richard Cohen will step down from his position effective October 31, 2025, to pursue other opportunities. Santino Delmolino, currently the bank's Corporate Controller, will assume the CFO role on the same date.

Cohen will continue in his current role through the end of October to facilitate the transition. Rick Wayne, President and Chief Executive Officer of the Maine-based bank, stated that Cohen "has been a remarkable leader throughout his tenure at Northeast, helping to position our bank for the future."

Delmolino brings financial services experience from his previous roles at Fidelity Investments, where he served as Director and Senior Manager in the accounting department, and KPMG, where he held the position of Senior Manager in the audit practice. He joined Northeast Bank in 2024.

The incoming CFO holds 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 in Massachusetts.

Northeast Bank operates seven branches in Maine and runs a National Lending Division that purchases and originates commercial loans nationwide. The bank also operates ableBanking, an online savings division serving consumers across the country.

Cohen expressed confidence in the bank's ability to continue executing its strategy, stating he is "proud of the progress we've made against our strategic and financial goals during my time as CFO."

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