Woodsboro Bank

What Woodsboro Bank does

Woodsboro Bank is a community bank founded in 1899 and headquartered in Woodsboro, Maryland, operating across Frederick County through five full-service branches in Woodsboro, Frederick, and Thurmont. The bank serves approximately 34,000 customers across two core segments: individual consumers and small-to-medium businesses, with specialized industry verticals in medical practices, dental practices, legal professionals, religious organizations, and construction contractors. The bank is publicly traded over-the-counter under the ticker WOBK and is led by a recently transitioned executive team, with Rich Ohnmacht elevated to President & CEO effective July 1, 2025, succeeding Steve Heine.

The bank's product portfolio spans consumer deposit accounts (checking, savings, CDs, IRAs), consumer lending (mortgages via the Woodsboro Mortgage Services division, personal loans, auto loans), consumer and business credit cards (issued through TCM Bank, N.A.), and a full commercial banking suite including business checking, commercial loans and lines of credit, treasury management, merchant services (through MPI Processing), and deposit insurance enhancement through IntraFi Network's ICS and CDARS programs. Distribution is hybrid: five physical branches, a digital banking platform with web and mobile app access, a 24/7 phone banking system (WAVE), and a dedicated commercial banking team. Underwriting and decisions are made locally.

The revenue model combines net interest income from lending activities (mortgages, commercial, personal, and auto loans) with fee-based income from account maintenance, overdrafts, wires, and merchant services, plus credit card interchange and rewards revenue via TCM Bank partnerships. Pricing is subscription-style on deposit accounts with monthly maintenance fees waived at defined balance thresholds (e.g., Classic Checking $0-$5/month, Business Checking $0-$12/month). The bank's differentiation rests on 125+ years of brand presence in Frederick County, multi-generational customer relationships, local decision-making authority, and consistent recognition through regional "Best Bank" awards across multiple local publications from 2020 through 2025. The loan portfolio has doubled with consistent double-digit annual growth under current leadership.

Name

Woodsboro Bank

Legal name

Woodsboro Bank

Website

https://woodsborobank.com

Company type

Public

Founded year

1899

Operating status

Operating

Headcount range

51–100 employees

Short description

Woodsboro Bank is a Maryland community bank founded in 1899, serving approximately 34,000 consumer and small-business customers across Frederick County through five branches, digital banking, and specialized industry verticals including medical, dental, legal, religious, and construction.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Real Estate (Commercial Property, REITs) (FSABACAH)

Keywords

• Community banking
• Retail banking services
• Commercial lending
• Mortgage services
• Treasury management

Headquarters

HQ city

Woodsboro

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Traditional banking revenue from lending activities including mortgages, commercial loans, personal loans, and auto loans. The bank offers competitive interest rates on deposits and earns interest spread on loan portfolios.
2. Fee-based Income: Monthly maintenance fees on accounts (checking, savings), overdraft fees, ATM fees, wire transfer fees, and various service charges. Also includes merchant services revenue through MPI Processing partnership.
3. Credit Card Revenue: Credit card interchange fees and interest income from Visa Signature Travel Credit Cards issued through TCM Bank, N.A. Cards offer competitive rates and rewards programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Woodsboro Bank is a community bank providing consumer and business banking products and services through five branches in Frederick County, Maryland, supported by online and mobile banking channels. Its offering spans deposit accounts (checking, savings, CDs, IRAs), consumer credit products (mortgages, personal loans, auto loans, credit cards), business credit and cash management (commercial loans, treasury management, merchant services), and industry-tailored solutions for medical, dental, legal, religious, and construction verticals.

Product overview

Woodsboro Bank is a community bank offering a comprehensive suite of consumer and commercial banking products through multiple delivery channels including branch, online, and mobile platforms. The core product portfolio includes deposit accounts (checking, savings, CDs, IRAs), credit products (personal loans, auto loans, credit cards, mortgages), and business services (checking, loans, merchant services, treasury management). The bank operates through its mortgage division Woodsboro Mortgage Services and provides industry-specific solutions for medical practices, religious organizations, legal professionals, dental practices, and construction contractors. Digital banking is delivered via Online Banking, Mobile Banking App, and Treasury Management services, while deposit insurance enhancement is provided through IntraFi network services (ICS and CDARS). All products are supported by a network of five branches across Frederick County and partnerships with third-party providers including Intuit Quicken, Visa, TCM Bank, MPI Processing, and IntraFi Network.

Differentiator

Problem solved

Functional benefit

Brands

• Woodsboro Mortgage Services: The mortgage division of Woodsboro Bank offering flexible lending solutions for home purchases, construction, and refinancing.

Products and services

• Online Banking

Quantifiable outcome

• Loan portfolio doubled with consistent double-digit annual growth

Named customers5 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• MPI ProcessingcoreTechnology or IntegrationPartnership for merchant products and services including credit card processing, payroll solutions, POS systems, ATM machines, and gift/loyalty programs for business customers.
• TCM Bank, N.A.coreChannel Partner/ Reseller/ DistributorIssues Visa Signature Travel Credit Cards and Visa Platinum Business Credit Cards for Woodsboro Bank customers. Cards offer competitive rates, rewards programs, and travel benefits.
• IntraFi NetworkcoreTechnology or IntegrationMembership in IntraFi network enables ICS (Insured Cash Service) and CDARS deposit placement services, allowing multi-million-dollar FDIC insurance coverage through deposit diversification.
• Hood CollegeminorGTM or Marketing PartnerWoodsboro Bank is a proud supporter of Hood College athletics (Blazers), demonstrating commitment to local educational institutions and community spirit.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• M&T Bank: M&T Bank is a large Mid-Atlantic regional bank with deep branch presence in Maryland including Frederick County. Directly competes with Woodsboro Bank on commercial lending, mortgages, and small business banking, but at significantly greater scale and broader geographic footprint.
• PNC Financial Services: PNC is a top-five U.S. bank with strong Mid-Atlantic branch presence including Frederick County. Competes directly for retail deposits, mortgages, and commercial banking relationships, but operates a far broader product set and digital platform than Woodsboro.
• Truist Financial: Truist (formed from BB&T/SunTrust merger) is a top-ten U.S. bank with extensive Mid-Atlantic branch network. Competes with Woodsboro Bank on consumer deposits, mortgages, and small business banking across the same Frederick County geography.

Direct peers

• Atlantic Union Bank: Atlantic Union Bank is a Virginia/Maryland-headquartered community bank (formerly Union First Market, now combined with Sandy Spring Bancorp) with comparable full-service consumer and commercial banking products. Operates similar relationship-led community banking model across the Mid-Atlantic.
• EagleBank: EagleBank is a Maryland-based community bank focused on commercial lending and professional services verticals (legal, medical, associations). Highly comparable niche-specialization strategy to Woodsboro's vertical solutions approach, serving overlapping Maryland customer segments.
• ACNB Bank: ACNB Corporation operates ACNB Bank, a Pennsylvania/Maryland community bank of similar size offering consumer, mortgage, and commercial banking. Closely comparable in scale, business model, and community banking orientation.
• F&M Trust: F&M Trust is a community bank headquartered in Chambersburg, PA with branches extending into Maryland. Operates with similar size, full-service consumer/commercial product set, and community banking philosophy.
• WesBanco: WesBanco is a Mid-Atlantic community bank serving West Virginia, Pennsylvania, Ohio, and Maryland. Similar size range, community-focused GTM, and full-service consumer/commercial banking — a close analogue for Woodsboro's operating model.
• Orrstown Financial Services: Orrstown Financial is a Pennsylvania-based community bank with branches extending into Maryland. Comparable size, similar community banking GTM, and full suite of consumer and commercial products — directly comparable peer.
• First United Bank & Trust: First United Bank & Trust is a Maryland-based community bank operating primarily in western Maryland and the surrounding region. Closely comparable in scale, branch-based distribution model, and full-service community banking offering.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/WoodsboroBank
• LinkedInlinkedin.com/company/woodsboro-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Woodsboro Bank