Woodsboro Bank, a long-standing community bank in Frederick County, expanded its commercial banking capabilities. The growth is attributed to the strong performance of the team, key new hires and continued increases in the bank’s legal lending limit.
An increased lending limit allows Woodsboro Bank to independently finance larger commercial real estate deals, term loans and lines of credit without the need for loan participations.
“Frederick County is in an exciting period of growth, and Woodsboro Bank is proud to grow alongside it,” Rich Ohnmacht, president and CEO of Woodsboro Bank, said. “We were founded over 125 years ago to serve the evolving needs of this community, and that remains our focus today. With our increased lending limit and an expanded team, we have the financial strength and local expertise to back any project our business community takes on.”
Alongside its increased capabilities, Woodsboro Bank is expanding its commercial banking team, investing in the human infrastructure required to handle the new lending capacity.
The bank recently welcomed two key additions to the commercial group:
- Rick Ault, Vice President / Commercial Banker: Ault brings over 20 years of experience in the financial industry. A graduate of Mount Saint Mary’s University and a 2016 graduate of Leadership Frederick County, he is deeply involved in the community. He currently serves as chair of the Brunswick Economic Development Committee, a member of the Key City Rotary Club, and a member of the board of directors for the Brunswick Little League.
- Wendy Gugliuzza, Commercial Lending Assistant: Gugliuzza joins the team with 28 years of retail and commercial banking experience. Known for her warm and friendly approach, she is dedicated to building strong relationships and providing dependable support to clients and colleagues. Outside of work, she is passionate about giving back to local schools and supporting youth organizations, like hockey and football teams, that build confidence and teamwork.
Woodsboro Bank has also promoted two longtime employees who have been serving Frederick’s business community for years:
- Austin Pearre has been promoted to senior vice president & commercial banking team lead. Pearre supports the commercial department’s day-to-day activities and advises the lenders on structuring deals and strategic guidance.
- Andrew Griffin has been promoted to credit analyst. Griffin evaluates the financial strength and creditworthiness of commercial lending opportunities that help ensure sound lending decisions.
“These promotions reflect the talent, dedication, and leadership that both Austin and Andrew bring to our commercial banking team every day,” Chris Clemons, executive vice president/chief commercial banking officer at Woodsboro Bank, said. “Their expertise and commitment to serving our clients strengthen our ability to deliver exceptional financial solutions, and their growth is a testament to the depth and quality of our commercial banking team. I’m excited to see the continued impact they will have.”
