Michael J. Wolnik is a seasoned Finance and Operating executive and business owner. He started his own commercial finance and advisory practice in 2018, servicing a variety of small businesses and commercial real estate investors. His work with each client involves aligning the strategic plan of the company or investor with the right financing, analyzing financial results, advising on earnings and cash flow projections with the client, and then placing loans amongst his sixty lending relationships. Mike can also help clients with lender readiness, advising on the presentation of loan submissions and the timing of funding requests.
Mike is also President, CFO, and Owner of a FEDEX pickup and delivery business out of Biddeford, Maine since 2020, consisting of 27 employees, 30 trucks, and $2.7 million in revenue in 2021, up from $1.9 million in 2020. He leads all financial and operational aspects of the business, including revenue analysis, route profitability, vendor relationships, hiring and retention, payroll and employee benefits, compliance, scheduling, and management of cash flow.
Prior to 2018, Mr. Wolnik worked in community banking for many years, including twenty-two years as an executive officer. His experience includes executive leadership with two nationally chartered public banks and two mutually owned banks in Massachusetts. Mike served as President & CEO of Wakefield Cooperative Bank until 2018, where he also performed CFO and COO duties during his nine-year tenure with the bank.
His accomplishments and successes as CEO include: (i) leading the bank with expanded small business services; (ii) growth in mobile and on-line banking services; (iii) successful growth and diversification with commercial banking; and (iv) leading an engaged and motivated team focused on service excellence and supporting the community, resulting in the doubling of the total assets of the bank over several years.
Mike also served as Chief Financial Officer for over two decades, with many notable accomplishments and responsibilities focused on profitability drivers, cash flow analysis, business unit performance, balance sheet and revenue mix, earnings analysis and forecasting, fixed income investment portfolio and funds management, enterprise risk, liquidity and interest rate risk management, and capital planning and analysis. Mike’s technical training and expertise is in accounting and finance and included early career stints for six years in both public accounting serving a variety of banks and commercial clients, and as an internal auditor for a mortgage finance company.
Mr. Wolnik holds both a bachelor’s degree in Accounting and master’s degree in Finance from the University of Lowell and is also a CPA in Massachusetts.
