Defino to Retire From Hebron Savings Bank

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Donna Defino, CPA, MBA, Chief Executive Officer (CEO) of Hebron Savings Bank, announced today that she plans to retire at the end of this year on December 31, 2023.

Defino joined Hebron Savings Bank in 1999 as the Bank’s Chief Financial Officer (CFO), rising later that year to Executive Vice President and CFO. She was promoted to President and CEO in February 2015. She is the first female to hold the Bank’s top position since its inception in 1910. Under her leadership, the Bank experienced rapid growth with assets growing from $551 million at the end of 2014 to $807 million at end of 2022. Annual net income, during that period, also increased from $3.2 million to $9.6 million. Customer service has been a priority during her tenure, with new products and services continually being added to meet customer needs and expectations. The Bank’s branch network, currently in Wicomico, Dorchester and Somerset counties, has also expanded to 13 branches, and plans have been laid to expand into Worcester County with two new branches opening in the near future.

In January 2023, Defino brought in Jennifer Poulsen, a seasoned banking executive with extensive experience at a regional bank in Pennsylvania, to serve as President of the Bank. Defino commented, “It has been an honor to serve this incredible institution, and with the strong management team in place, I feel confident that I am leaving the Bank in good hands. I look forward to spending more time with family and friends and continuing my service to the community.” Defino has been an active board member of several nonprofit and civic organizations in our area. She is currently serving as Vice Chairman of Greater Salisbury Committee, Treasurer of Rotary Club of Wicomico County, and board member of Salisbury-Wicomico Economic Development Commission.

Victor H. Laws, III, Chairman of the Board of the Bank, stated, “Donna Defino has been a dedicated leader, ensuring that the Bank remains independent and strong, continuing to grow along with our customers to better meet the banking needs of our region and the expectations of our shareholders. Donna has been a firm hand at the helm, posting strong results through the pandemic, rapidly changing interest rates, and other banking challenges over the years. We appreciate Donna’s long record of faithful service to our Bank, and we wish her all the best in her future endeavors.”