Woodsboro Bank Expands Lending Capacity and Team in Frederick County

The expansion marks a strategic pivot for the 125-year-old institution, which aims to provide direct financial backing for the region's increasing commercial activity. President and CEO Rich Ohnmacht noted that the bank’s heightened capital strength allows it to support more ambitious business ventures without relying on outside partners, ensuring that decisions remain firmly in local hands.

To manage this increased volume, the bank has bolstered its commercial group with two key hires and two internal promotions. Rick Ault joins as Vice President and Commercial Banker, bringing two decades of industry experience, while Wendy Gugliuzza joins as a Commercial Lending Assistant. Meanwhile, Austin Pearre has been elevated to Senior Vice President and Commercial Banking Team Lead, with Andrew Griffin stepping into the role of Credit Analyst. These personnel moves are designed to pair the bank's expanded balance sheet with the necessary credit oversight and relationship management to maintain stable growth across Frederick County.