Bank On certifies Dime Bank account, Jeff Bank posts record profits and more

What's happening at our local banks

Posted 12/31/69

Dime Bank Opportunity Account receives national certification

HONESDALE, PA — The Dime Bank announced that its Opportunity Account was officially certified by the national Cities for …

This item is available in full to subscribers.

Please log in to continue

Log in

Bank On certifies Dime Bank account, Jeff Bank posts record profits and more

What's happening at our local banks


Dime Bank Opportunity Account receives national certification

HONESDALE, PA — The Dime Bank announced that its Opportunity Account was officially certified by the national Cities for Financial Empowerment Fund as meeting the Bank On National Account Standards. The standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality and consumer safety.

Key features of the account include a monthly cost of only $5, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases, and federal deposit insurance. 

The Opportunity Account is available at the Dime Bank‘s nine branches, which are located in Wayne, Pike and Lackawanna counties, PA.

"We believe that everyone should have the opportunity to access safe and affordable banking through a trusted financial institution like the Dime Bank. Our staff are here to assist customers along the way to improved financial wellness,” said Dime Bank president/CEO Peter Bochnovich in a press release.

The goal of Bank On is to ensure that everyone has access to safe and affordable financial products and services, the press release stated. 

Led by national nonprofit the Cities for Financial Empowerment Fund (CFE Fund), it works to ensure that everyone has access to a safe, affordable transactional banking account, the press release read.

Key pieces of the Bank On movement include (from

Bank On National Account Standards and accompanying certification process

Over 90 local Bank On coalitions across the country working to expand banking access in their communities, including by connecting consumers to opportunities to access Bank On certified accounts at scale

The Bank On National Data Hub, established in partnership with the Federal Reserve Bank of St. Louis, to streamline financial institution reporting and aggregate information on Bank On account opening and usage. For example, Data Hub reporting showed that 85 percent of Bank On certified accounts were opened by customers completely new to the financial institution.

The Bank On National Account Standards identify critical product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.

The Dime Bank Opportunity Account is available at nine branches in Pennsylvania.  

To learn more about Bank On and the National Account Standards, visit, or follow the conversation on Twitter @CFEfund #BankOn.

Joe Tini earns national certification at HNB

HONESDALE, PA — Joe Tini, marketing and communications specialist at the Honesdale National Bank (HNB), was recently awarded the Certified Financial Marketing Professional (CFMP) certification from the American Bankers Association. 

“Earning the CFMP certification validates Joe Tini’s experience and depth of education in the bank marketing arena,” said bank president/CEO Thomas Sheridan Jr.

The CFMP certification is awarded to individuals who demonstrate excellence in the field of financial services marketing. To qualify, people must have certain levels of experience and education in the financial services marketing profession, must pass an exam, and agree to abide by a code of ethics.  

Tini joined HNB in his current role in 2020. He is a graduate of Valley View High School and received his bachelor’s degree from Kutztown University of Pennsylvania. He is an avid outdoorsman who spends most of his free time fishing, mountain biking, boating, skiing, exercising, and traveling. 

The Honesdale National Bank, established in 1836, is the area’s oldest independent community bank headquartered in Northeastern PA, with offices in Wayne, Pike, Susquehanna, Lackawanna and Luzerne counties. The Honesdale National Bank offers personal banking, business banking and wealth solutions. For more information on HNB’s products and services, visit

Dimeco, Inc. announces 2022 earnings

HONESDALE, PA — Dimeco, Inc. (OTCQX: DIMC), the parent holding company of the Dime Bank, announces unaudited financial results for the quarter and fiscal year ending December 31, 2022. 

Total assets increased $11.3 million or 1.2 percent from the end of 2021 to $970 million on December 31, 2022. The loan portfolio ended the year at $679 million, an increase of $22 million or 3.3 percent from the year prior. Deposits finished the year at $788 million.

Dimeco’s 2022 net income of $12.3 million represented an increase of 3.3 percent over income reported for 2021. 

Net income at this level produced a return on average assets of 1.28 percent and a return on average equity of 13.51 percent, an increase over the same period last year of 1.6 percent and 11.8 percent, respectively.

The 2022 dividend payout ratio was 30.04 percent, providing a yield of 3.32 percent, with year-to-date dividends totaling $1.46 per share.

Norwood Financial Corp/Wayne Bank announces cash dividend

HONESDALE, PA —  James Donnelly, president/CEO of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary, Wayne Bank, announced that the Board of Directors has declared a $0.29 per share quarterly cash dividend payable May 1, 2023, to shareholders of record as of April 14, 2023. 

The $0.29 per share represents an increase of 3.6 percent over the cash dividend declared in the first quarter of 2022.

Mr. Donnelly commented, “The board is extremely pleased to provide our shareholders with this quarterly cash dividend,” Donnelly said. “It reflects the company’s financial strength and strong capital position, which has contributed to our solid performance.”

Norwood Financial Corp, through its subsidiary, Wayne Bank, operates 14 offices in northeastern Pennsylvania and 15 offices in Delaware, Sullivan, Ontario, Otsego and Yates counties in New York. 

As of December 31, 2022, the company had total assets of $2.047 billion, loans outstanding of $1.474 billion, total deposits of $1.728 billion and total stockholders’ equity of $167.1 million. The company’s stock is traded on the Nasdaq Global Market under the symbol “NWFL”.

Forward-Looking Statements

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to a number of risks and uncertainties which may cause actual results to differ materially from those currently anticipated, and therefore

readers should not place undue reliance on any forward looking statements. Those risks and uncertainties include, but are not limited to, our ability to pay or increase cash dividends in the future, the continued financial strength, solid performance and strong capital position of the company, changes in federal and state laws, changes in the absolute and relative levels of interest rates, the risks and uncertainty posed by, and the effect and impact of the COVID-19 pandemic on the economy and the company’s results of operation and financial condition, the ability to control costs and expenses, the demand for real estate, costs associated with cybercrime, general economic conditions and the effectiveness of governmental responses thereto. 

Jeffersonville Bancorp announces fourth-quarter earnings, dividend

JEFFERSONVILLE, NY — Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced fourth-quarter net income of $2.803 million or $0.66 per share, compared to $1.442 million or $0.34 per share for the same quarter in 2021. 

The increase in quarterly net income of $1,361,000 was primarily attributable to an increase in loan interest and fees of $944,000, other interest and dividends of $723,000, and securities income of $671,000. It was partially offset by a decrease in net gain on sale of securities of $514,000, an increase in tax expense of $415,000, and an increase in non-interest expense of $139,000.

Year-to-date net income as of December 31, 2022 was $9.304 million, or $2.20 per share, compared to $5.944 million, or $1.40 per share, for the same period in 2021. The increase in year-to-date net income of $3.360 million was primarily attributable to an increase in securities income of $2.185 million, other interest and dividends of $1.584 million, loan interest and fees of $999,000, and a decrease in total non-interest expense of $242,000. It was partially offset by a decrease in realized and unrealized gains on securities of $684,000 and an increase in income tax expense of $978,000 compared to the same period in 2021.

"Increases in the federal funds rate by the Federal Reserve board, aimed at curbing high inflation, combined with higher levels of loans and securities investments and already high balances held at the Federal Reserve Bank, contributed to the largest dollar level of profit in the company’s history in 2022," said George W. Kinne, Jr., president and CEO, “With the Federal Reserve Board signaling higher rates for a longer period of time, risks to future earnings are rising as competition for deposits is putting pressure on interest expense and liquidity throughout the banking industry. Our balance sheet is well positioned for that operating environment in the near term, and with no borrowed or wholesale funding, we are prepared to respond if those conditions worsen.”

A cash dividend in the amount of $0.15 per share on the common stock of the company was declared at the February 14 meeting of the board of directors. The dividend is payable on March 6 to stockholders of record at the close of business on February 27.

Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains 10 full-service branches in Sullivan and Orange counties in New York. The branches are located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake and Wurtsboro.

Wayne Bank, Honesdale National Bank, Dime Bank, Bank On, Jeff Bank


No comments on this item Please log in to comment by clicking here