Dave Costello, MBA, CPA - Executive Leadership Profile
Professional Overview
Dave Costello, MBA/CPA, is an accomplished executive specializing in financial leadership and executive management. With a deep expertise as Chief Financial Officer (CFO), Dave not only oversees finance functions but also leads high-impact projects that drive organizational success.
Expertise and Value to Organizations
Dave provides comprehensive financial leadership to executive teams and boards, empowering CEOs of growth-oriented companies to make informed decisions that enhance and improve profitability and cash flow. He is highly skilled at implementing processes and procedures that foster sound growth within a company's finance function and improve performance. Having spent much of his career as a CFO, Dave possesses a thorough understanding of the
role’s requirements and expectations. His extensive experience as CFO, COO, CEO, and Director offers a unique and valuable perspective on financial operations. Dave believes that the strong contribution of a CFO is essential to the long-term success of any company, particularly in today’s rapidly changing business environment.
Leadership Roles and Achievements
Dave served as a member of the Board of Directors at Arundel Federal Savings Bank from 2015 to 2025. He previously served as President & Chief Executive Officer of the Bank from 2015 until stepping down in January 2020. Dave joined the Bank in 2012 as Chief Operating Officer. During his tenure as CEO, Dave focused on performance improvement, expanded the loan portfolio, diversified into commercial real estate lending, and leveraged technology to enhance
competitiveness and customer service. He also strengthened relations with regulators and implemented new marketing strategies to attract business.
Previous Executive Experience
Prior to joining Arundel Federal, Dave held executive positions in finance and accounting, serving as Chief Financial Officer at Securityplus Federal Credit Union, Bradford Bank, Maryland Permanent Bank, and Carrollton Bank. He also served as Corporate Controller at Bank of Baltimore.
Before his career in banking, Dave spent the first decade of his career as an audit executive with Ernst & Young, serving a broad range of clients across various industries.
Board Memberships and Community Involvement
Dave has a strong commitment to community and industry leadership. He served on the Board of Roland Park Place, a 260-unit 501(c)(3) Continuing Care Retirement Community in Baltimore, from 2006 to 2013, including two years as Board Chair. While on this board, he chaired the Finance, Investment and Executive Committees and contributed to the Strategic Planning and Nominating Committees.
He is also a longtime and active Board member of Financial Executives International, an organization of senior financial executives. Within its Baltimore Chapter, Dave has held various leadership roles, including serving as President in 2003. In 2019, he served on the Board of the Northern Anne Arundel County Chamber of Commerce.
Education and Credentials
Dave holds a Master of Business Administration from the University of Baltimore and a Bachelor of Science in Accounting from Florida State University. He is also a Certified Public Accountant (inactive license).
Feedback from Dave’s Clients
"We appreciate Dave because he holds us accountable, which is exactly what we need!"
"If Dave didn’t set up a time to meet with me each month, I wouldn’t look at my financials at all!"
"Thank you, Dave, for the education and for setting up the financial analysis framework!"