Woodsboro Bank Elevates Rich Ohnmacht to Chief Executive Officer

Trusted local leader to guide Frederick County's community bank into its next chapter

FREDERICK, Md., May 29, 2025 /PRNewswire/ -- In a move to support the strong trajectory of growth and impact throughout the Frederick community, the Board of Directors of Woodsboro Bank is pleased to announce they will elevate Rich Ohnmacht, current President of Woodsboro Bank, to the role of President & Chief Executive Officer effective July 1. Ohnmacht will succeed current CEO, Steve Heine, who will transition into a Senior Advisor role with the bank while continuing to serve as a member of the Board of Directors.

As President & CEO, Ohnmacht will oversee both the day-to-day operations of the bank and its long-term strategic direction. He will lead the organization through the next phase of its three-year strategic plan, which builds on Woodsboro Bank's success as the only community financial institution predominantly focused on Frederick County. This plan reinforces the bank's commitment to providing capital and full-service, personalized banking solutions to both business owners and individual clients.

"The Board of Directors is excited to expand the breadth of Rich's thoughtful approach to leadership through this new role," said Gordon Cooley, Board Chair. "Rich is a proven leader who understands both the business of banking and the heart of our community. The Board is confident that Woodsboro Bank will continue to thrive and grow with Rich guiding the way as our next CEO."

Since joining Woodsboro Bank six years ago, Ohnmacht has played a major role in shaping the bank's growth and relevance in Frederick County. While the bank had long benefited from a loyal client base, Ohnmacht led a concentrated effort to cultivate relationships with the local business community. As a result, the bank's loan portfolio doubled in size and has seen consistent double-digit growth annually, prompting the expansion of the Commercial Banking team.

Ohnmacht has also been involved in advancing digital banking and treasury management capabilities at the bank. Additionally, he advanced community event engagement for colleagues and launched impactful programs such as market roundtable discussions, which bring together commercial bankers and branch managers to foster stronger client engagement and collaboration across departments. Ohnmacht is also highly involved in the Frederick community, including serving as a Board member and Treasurer for the Frederick Health Hospital and Treasurer for the Rotary Club of Southern Frederick County. He also serves as the Maryland State Delegate for ICBA, the Independent Community Bankers of America, a national organization focused on community banking. 

"It's a privilege to lead a bank where culture comes first and community is at the center of everything we do," said Ohnmacht. "I'm thankful for the path paved by Steve and my colleagues on the leadership team, and I'm proud to carry that forward. 'Forward' being the key word, because now is not the time to stand still. The world around us is changing fast—technology, expectations, even how people do business. Our goal is to keep Woodsboro Bank evolving, to stay agile and continue being Frederick's go-to banking partner for many years to come."

Ohnmacht was promoted to the role of President in August of 2024 while Heine continued to serve as the CEO, a position he held since joining Woodsboro Bank in 2017. Heine will now move into a Senior Advisor role on July 1st, working alongside Ohnmacht to ensure a successful transition of leadership. In this role, Heine will remain actively involved in strategic discussions, client development, and community engagement, while also continuing to serve on the bank's Board of Directors, as Board Chair of the Frederick County Chamber of Commerce, and a board member of the Maryland Bankers Association.

"There are so many incredible things about Woodsboro Bank, but it's always been the people that make it truly extraordinary," said Heine. "I've been fortunate to serve alongside a leadership team and bank colleagues that have built something really special—a modern community bank with deep roots and a culture built on excellence, client focus, and teamwork. I am thrilled to see Rich step into this role. He's a strong, thoughtful leader who truly understands what makes Woodsboro Bank and Frederick so unique. I know he'll lead us even further, and I'm excited to continue supporting the team in this next chapter."

Woodsboro Bank is led by a seven-person executive team, all who have been at the bank at least six years. This experienced and dedicated team has worked together to build and refine the bank's products and services, but more importantly, craft their internal culture into the unique and transformative force that it is today. Their consistent leadership and deep roots in the community position them well to continue advancing the bank's mission well into the future.

As he steps into this new role, Ohnmacht is focused on building a bank for today and the future. For him, long-term success comes down to doing the right things - especially continuing to invest in the people who make Woodsboro Bank what it is. Keeping the bank's positive momentum going means embracing change, always looking for ways to improve, and never losing sight of what matters most. That means doubling down on the community-first approach that has defined the bank's success, while also leveraging their unique sweet spot: big-bank resources paired with small-bank service and heart.

About Woodsboro Bank:
Established in 1899 in response to the growing needs of the community, Woodsboro Bank is a community based bank headquartered in Woodsboro, Maryland. With a vision to be the best bank in Central Maryland, Woodsboro Bank has been serving the people of Frederick County for over 126 years, providing a complete line of consumer and commercial financial products and superb personal customer service, at multiple locations throughout the county. As an organization driven by serving its community with compassion and dedication, the Woodsboro Bank team is committed to understanding how they can make a true difference and move forward, as a community. For more information, visit woodsborobank.com.

SOURCE Woodsboro Bank