Woodsboro Bank Celebrates 125 Years of Local Commitment & Service
In Frank Capra’s It’s A Wonderful Life, a bank run provides the occasion for local Building & Loan director George Bailey to explain the real impact of community banking. A group of anxious customers jostle to withdraw their funds; George tells them that he can’t return them everything at once, because “[their] money’s in Joe’s house… and in the Kennedy house, and Mrs. Macklin’s house, and a hundred others…” We don’t often consider it, but in truth, few other institutions are as embedded in community success as the community bank. Woodsboro Bank in Frederick County has exemplified this for 125 years.
Founded in 1899, the principal branch has been located in the same downtown Woodsboro building for almost all of its long history. The space was constructed in 1901, and along with the bank, this community center, of sorts, housed a grocery store, the post office and served as the town hall as well as an opera house. It was a space for meetings and events outside of the primary locations of home and church and meant that Woodsboro Bank was created as a true community institution from the very start. Senior Vice President of Deposit Operations JR Delauter recounts how the building provided a home for literary societies, homemakers’ clubs and even a bingo fundraiser location to start the Woodsboro Fire Department.
“Today we have people in and out of the building that have come for generations,” he says.
Building on this generational legacy is a cornerstone of Woodsboro Bank’s mission and values.
Today, the bank has expanded to encompass five branches and 60 employees, and has widened its community focus to support all of Frederick County—yet has retained its Main Street ethos and its commitment to treat clients like family.
President Steve Heine explains that most banks work for shareholders first, but that Woodsboro’s shareholders are unique in recognizing the bank’s foundational purpose. Seven years ago, shareholders had an opportunity to approve a merger that would have increased the bank’s size and potential earning power, but declined it in favor of allowing Woodsboro to remain independent. Both Heine and Delauter say that Woodsboro shareholders recognized the deep value in staying the course as Frederick County’s last true community bank—with all decision makers and key players locally based and engaged. “[Clients] know our names, they’re our neighbors,” Delauter says. “It’s a meaning of community and community spirit.”
Along these same lines, Woodsboro Bank is also unique in the degree to which its organizational values are interwoven in all operations. Heine cites the bank’s three “permission to play” values as integrity, a strong work ethic and a commitment to business ethics itself. Beyond that, Woodsboro team members take pride in their ability to be client-focused, innovative, pursue excellence and generate results.
Senior Vice President of Human Resources Bethany Lord shares how, of all the organizations she’s been a part of, only Woodsboro Bank has tied performance appraisals to day-to-day adherence to company values. “Our values are so important… they drive our culture,” she says.
Marketing Director Samantha Cutrona brings it all together in explaining how Woodsboro seeks to accomplish their vision—being the best bank in Maryland for their colleagues, community, clients and shareholders—by staying true to their history while remaining fully up-todate. The bank recently launched a new website, upgraded several of its banking products, and is revamping its online banking platform and app.
Executive Vice President and Chief Retail Banking Officer Thomas Ramsay also explains that innovation at Woodsboro Bank often simply means that clients have access to custom solutions that larger, more corporate banks aren’t able to offer. This “local touchpoint” means that clients aren’t “put into a box where [they] might end up getting a call two weeks later,” he says. Woodsboro has no canned 800 number and this “pride in client experience,” according to Ramsay, is a “huge separator.”
pride in client experience,” according to Ramsay, is a “huge separator.” Considering the bigger picture, Woodsboro Bank’s 125th anniversary is a milestone for the community in addition to being a major accomplishment for the bank. As Heine tells it, Woodsboro has been with Frederick through two World Wars, the Great Depression, the most recent recession and COVID—and will continue to be a community anchor which allows the county to flourish. Woodsboro Bank has achieved what it seeks to make possible for local families and businesses: longevity. This is something for all of us to celebrate. WoodsboroBank.com
