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Applied Bank announces Fred C. Sears II as new director

Wilmington, DE. July 11, 2016 – Applied Bank, Wilmington, DE, is pleased to announce the appointment of Fred C. Sears II to Applied Bank’s Board of Directors.

Fred recently retired from the Delaware Community Foundation where he served as President and CEO for thirteen years. Through his work with the Foundation, he encouraged individuals, businesses and organizations to engage in long-term charitable giving to improve the statewide community for years to come. Fred served as a community leader in the greater Wilmington area and with organizations throughout Delaware for over forty five years.

Prior to taking on the leadership of the Community Foundation, Fred had a thirty eight year career in banking, most recently as president of Commerce Bank/Delaware. Early in his banking career he took time out to serve as Finance Director, Director of Commerce for the City of Wilmington and Director of the Port of Wilmington. He was elected to City Council from 1976 through 1984 and has remained politically active.

Fred has served as an officer or board member for more than forty community nonprofit organizations. In addition to his role at Applied Bank, Fred currently serves as a director of the Christiana Care Medical Center, the Delaware State Port Corporation, Fraunhofer USA Delaware, the Rodel Foundation, the Wilmington Housing Partnership, the Wilmington Land Bank Commission, and the Beau Biden Foundation. He also serves as a member of the State Council for Development and the Nemours Health and Prevention Services Advisory Board.

Fred is a Delaware native who has always lived in the Wilmington area. He has undergraduate and graduate degrees in Business Administration from the University of Delaware. Fred and his wife Jo Ann are the parents of two adult sons and have four grandchildren who all live in New Castle County.

“We are very pleased to have Fred join our Board of Directors” stated Applied Bank Chairman and CEO Rocco Abessinio. “Fred’s extensive banking and business expertise will be very beneficial to the future growth of Applied Bank.”

Applied Bank is Delaware’s number one rated bank with branches in Wilmington and Rehoboth Beach, Delaware. For more information, contact Matthew Lee, Senior Vice President, at 302-326-4200 extension 29526.