Norwood Financial Corp. (NWFL) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.78%. A quarter ago, it was expected that this company would post earnings of $0.55 per share when it actually produced earnings of $0.38, delivering a surprise of -30.91%.Over the last four quarters, the ...

Financial Performance - Net income for Q1 2025 was $5.8 million, a 30.2% increase from $4.4 million in Q1 2024[5] - Fully diluted earnings per share increased to $0.63, up 14.5% from $0.55 in the same period last year[3] - Net income increased to $5,773,000, up from $4,433,000 year-over-year, reflecting a growth of about 30.2%[14] - The company reported a net income of $5,773 thousand for Q1 2025, compared to a net loss of $12,651 thousand in Q4 2024[16] - Basic earnings per share improved to $0.63 from $0.55, representing a growth of 14.55%[14] - Basic earnings per share for Q1 2025 was $0.63, compared to a loss per share of $1.54 in Q4 2024[16] Interest Income and Margin - Net interest income rose to $17.9 million, a 21.4% increase compared to $14.7 million in Q1 2024[5] - Net interest income for the three months ended March 31, 2025, was $17,857,000, compared to $14,710,000 for the same period in 2024, representing a growth of approximately 21.5%[14] - The net interest margin improved to 3.30%, up 50 basis points from 2.80% in Q1 2024[5] - The net interest margin improved to 2.61% from 2.08%, indicating a significant enhancement in profitability[14] - The company maintained a net interest margin (fte) of 3.30% in Q1 2025, up from 3.04% in Q4 2024[16] - The net interest margin (tax equivalent basis) improved to 3.30% for the quarter ended March 31, 2025, compared to 3.04% in the previous quarter[17] Asset and Loan Growth - Loans grew at an annualized rate of 13.5% during the first quarter, reaching $1.771 billion[3] - Total loans receivable increased to $1,771,269,000, compared to $1,614,448,000, reflecting a growth of about 9.7%[14] - Total assets reached $2.376 billion, reflecting a 5.07% increase from $2.260 billion a year earlier[5] - Total assets as of March 31, 2025, were $2,376,044,000, up from $2,260,423,000, marking a growth of approximately 5.1%[14] - Total interest-earning assets increased to $2,217,043 thousand, up from $2,207,684 thousand in the previous quarter[17] - Loans receivable reached $1,743,572 thousand with a yield of 6.08%, slightly down from 6.18% in the previous quarter[17] Deposits and Liabilities - Total deposits increased by 9.0% year-over-year, totaling $2.004 billion as of March 31, 2025[5] - Total deposits reached $2,004,448,000, up from $1,838,998,000, indicating an increase of approximately 9.0%[14] - Total deposits increased to $2,004,448 thousand, a rise of 7.8% from $1,859,163 thousand at December 31, 2024[15] - Total interest-bearing liabilities were $1,690,438 thousand, with an average rate of 2.93%, down from 3.04% in the previous quarter[17] Efficiency and Asset Quality - The efficiency ratio for Q1 2025 was 59.7%, significantly improved from 70.6% in Q1 2024[5] - Return on average assets increased to 1.01%, a rise of 21 basis points compared to the previous year[5] - Return on average assets rose to 1.01%, compared to 0.80% in the previous year, showing an increase of 26.25%[14] - Return on average assets (annualized) improved to 1.01% in Q1 2025, compared to -2.19% in Q4 2024[16] - Non-performing loans to total loans ratio decreased to 0.45% from 0.23%, showing improved asset quality[14] Risk Management - The allowance for credit losses was $20,442,218, compared to $18,002,000, indicating a proactive approach to risk management[14] - The allowance for credit losses to total loans ratio was 1.15% as of March 31, 2025, slightly down from 1.16% at December 31, 2024[16] - The allowance for credit losses was $20,154 thousand, up from $18,741 thousand in the previous quarter[17]

Quarterly Highlights: Fully diluted EPS of $0.63, a 14.5% increase over the same period in 2024Return on assets rises to over 1.00%.Net interest margin increased 30 basis points vs. the prior quarter and 11 basis points over the prior year.Loans grew at a 13.5% annualized rate during the first quarter.Capital continues to improve on increased earnings and lower AOCI adjustment. HONESDALE, Pa., April 17, 2025 (GLOBE NEWSWIRE) -- Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Ban ...

Financial Performance - For the year ended December 31, 2024, net interest income was $62.191 million, a slight increase from $62.067 million in 2023[98]. - The net loss for 2024 was $160,000, a significant decline from net income of $16.759 million in 2023[98]. - The dividend payout ratio for 2024 was -6074.38%, indicating a substantial change from 56.19% in 2023[98]. - Total other income for the year ended December 31, 2024, was a loss of $11,151,000, a decrease of $19,275,000 compared to income of $8,124,000 in 2023[158]. - Net realized losses on sales of securities increased to $19,962,000 in 2024, up from a loss of $209,000 in 2023[159]. - Other expenses totaled $48,625,000 for the year ended December 31, 2024, compared to $43,497,000 in 2023, reflecting an increase of $5,128,000[162]. - Salaries and employee benefits increased by $1,453,000 to $25,018,000 in 2024[160]. - The efficiency ratio for 2024 was 68.5%, up from 62.1% in 2023, indicating a decline in operational efficiency[161]. Credit Losses and Allowances - The provision for credit losses decreased significantly to $2.673 million in 2024 from $5.548 million in 2023[98]. - The allowance for credit losses to total loans ratio was 1.16% as of December 31, 2024, slightly down from 1.18% in 2023[98]. - The allowance for credit losses was $19,843,000, representing 1.16% of total loans, compared to $18,968,000 and 1.18% in 2023[121]. - Net charge-offs for 2024 totaled $1,671,000, a significant decrease from $6,078,000 in 2023, reflecting a net charge-off rate of 0.10% compared to 0.39% in the previous year[131]. - The provision for credit losses decreased to $2,546,000 for the twelve months ended December 31, 2024, down from $5,581,000 in 2023[131]. Assets and Loans - Total assets increased to $2.317 billion as of December 31, 2024, up by $116.4 million from $2.201 billion in 2023[99]. - Loans receivable rose to $1.714 billion, an increase of $110.2 million compared to $1.604 billion in 2023, driven by increases in consumer and commercial real estate loans[100]. - As of December 31, 2024, total loans receivable amounted to $1,713,638,000, an increase from $1,603,618,000 in 2023[129]. - The company maintained a diversified loan portfolio with no concentrations exceeding 10% in any one industry as of December 31, 2024[124]. - The company had $716.9 million in commercial real estate loans, accounting for 41.8% of total loans outstanding as of December 31, 2024[126]. - Non-performing loans totaled $7,874,000 as of December 31, 2024, slightly up from $7,622,000 in 2023[135]. Capital and Equity - Stockholders' equity increased to $213.508 million in 2024 from $181.070 million in 2023[98]. - The Tier 1 Capital to risk-adjusted assets ratio improved to 12.35% in 2024, up from 11.99% in 2023[98]. - The total risk-based capital ratio as of December 31, 2024, was 13.45%, up from 13.06% in 2023[164]. - Total stockholders' equity as of December 31, 2024, was $213.5 million, an increase from $181.1 million in 2023, primarily due to $28.1 million in net proceeds from an offering[164]. Interest Income and Expenses - Fully taxable equivalent net interest income for 2024 totaled $63,010,000, an increase of $194,000 from 2023, with a net interest spread of 2.17% compared to 2.47% in the previous year[150][154]. - Total interest expense rose to $50,389,000 in 2024, with an average cost of interest-bearing liabilities increasing to 3.07% from 2.21% in 2023[156]. - The net interest margin on a tax-equivalent basis for 2024 was 2.91%, down from 3.06% in 2023[168]. - Average loans outstanding increased by $80.5 million in 2024, contributing to an increase in interest income of $14.3 million[150]. - Total interest-earning assets increased to $17,110,000 in 2024, up from $6,773,000 in 2023, primarily driven by a $9,550,000 increase in loans receivable[172]. Securities and Investments - The securities portfolio was valued at $397.8 million, with unrealized losses of $33.5 million as of December 31, 2024[136]. - The average life of the securities portfolio was 7.1 years, with purchases totaling $208.1 million during the year[137]. - The Company held 215 investment securities in a loss position as of December 31, 2024, with a combined unrealized loss of $42.6 million, primarily due to changes in interest rates[140]. - The Company repositioned its available-for-sale debt securities portfolio, selling securities with an amortized cost of approximately $175 million and recognizing a pre-tax loss of $20 million[141]. Deposits and Liquidity - Total deposits as of December 31, 2024, were $1.859 billion, an increase of $64.0 million from the previous year, with time deposits increasing by $58.4 million[147]. - Non-interest bearing demand deposits decreased to $381.5 million in 2024 from $399.5 million in 2023[148]. - The company's liquidity as of December 31, 2024, was $470.1 million, representing 20.3% of total assets, down from 21.5% in 2023[186]. - The company maintained established lines of credit totaling $192.0 million, with $178.5 million outstanding as of December 31, 2024[187]. Taxation - The effective tax rate for 2024 was 38.0%, compared to 20.7% in 2023, with an income tax benefit of $98,000 in 2024[152]. - The effective tax rate for 2024 was 38.0%, compared to an income tax expense of $4,387,000 and a rate of 20.7% in 2023[163]. Interest Rate Sensitivity - The sensitivity analysis indicated that a 200-basis point increase in interest rates would decrease net interest income by 5.1% in year 1 and 2.7% in year 2[180]. - The yield on U.S. Treasury 5-year notes increased by 54 basis points from 3.84% to 4.38% during the year[179]. - The effective duration of the bond portfolio remained steady at 5.5 years as of December 31, 2024[181]. - The company’s asset and liability management aims to maintain a strong, stable net interest margin while effectively utilizing capital[174].

HONESDALE, Pa., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Susan Campfield has announced her retirement from the Board of Directors of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, effective February 18, 2025. After serving the companies for 19 years, Campfield announced her retirement stating, “I have enjoyed supporting this great bank and all of the good it has done and is doing in the communities that we serve. It has been one of the real honors of my professional life.” Campf ...

Financial Performance - Norwood Financial Corp reported a net loss of $12.7 million for Q4 2024, a decrease of $13 million compared to the same period last year, primarily due to a one-time $20 million loss on the sale of securities[6]. - Adjusted net income for Q4 2024 was $3.1 million, significantly higher than $355 thousand in Q4 2023[5]. - The net loss for the twelve months ended December 31, 2024, was $(160) thousand, a significant decrease from the net income of $16,759 thousand in 2023[15]. - Basic loss per share for 2024 was $(0.02), compared to earnings per share of $2.08 in 2023[15]. - The net loss for the three months ended December 31, 2024, was $12,651,000, compared to a net loss of $3,559,000 for the same period in 2023, indicating a significant increase in losses[16]. - Basic loss per share for Q4 2024 was $1.54, compared to earnings of $0.04 per share in the same quarter last year[18]. Income and Expenses - Net interest income for Q4 2024 was $16.6 million, an increase of 8.7% from $15.3 million in Q4 2023[2]. - Total non-interest expenses rose to $48.6 million in 2024, up from $43.5 million in 2023, mainly due to higher compensation and data processing costs[6]. - Other income showed a significant decline, resulting in a total of $(11,151) thousand for the twelve months ended December 31, 2024, compared to $8,124 thousand in 2023[15]. - Total other expenses increased to $48,625 thousand in 2024, up from $43,497 thousand in 2023, an increase of 11.8%[15]. Assets and Liabilities - Total assets increased to $2.317 billion as of December 31, 2024, compared to $2.201 billion at the end of 2023[6]. - Total assets increased to $2,317,462 thousand in 2024 from $2,201,079 thousand in 2023, representing a growth of 5.3%[14]. - Net loans receivable rose to $1,693,795 thousand in 2024, up from $1,584,650 thousand in 2023, an increase of 6.9%[14]. - Total deposits grew to $1,859,163 thousand in 2024, compared to $1,795,159 thousand in 2023, reflecting a 3.6% increase[14]. - The allowance for credit losses was $19,843,000, compared to $18,968,000 in the previous year, indicating a slight increase in provisions[16]. Interest Income and Margin - Interest income for the twelve months ended December 31, 2024, was $112,580 thousand, up 17.8% from $95,540 thousand in 2023[15]. - Net interest income after provision for credit losses increased to $59,518 thousand in 2024, compared to $56,519 thousand in 2023, a rise of 5.3%[15]. - Total interest income for Q4 2024 was $29,485 thousand, up 12.5% from $26,085 thousand in Q4 2023[18]. - Net interest income after provision for credit losses was $15,021 thousand, compared to $9,177 thousand in the same quarter last year, reflecting a year-over-year increase of 63.5%[18]. - The net interest margin improved to 3.04% in Q4 2024, up 11 basis points from 2.93% in Q4 2023[6]. Capital and Equity - Tangible common equity increased to 8.05% as of December 31, 2024, compared to 6.98% at the end of 2023[6]. - The equity to total assets ratio improved to 9.21% from 8.23% year-over-year, suggesting a stronger capital position[16]. Future Outlook - The company completed a capital raise to reposition its investment portfolio, which is expected to improve future yields[3]. - The company anticipates that the repositioned portfolio will enhance future performance amid changing interest rates[2].

Core Insights - Norwood Financial Corp reported a net loss of $12.7 million for Q4 2024, primarily due to a one-time $20 million loss from the repositioning of its investment portfolio [2][4][17] - The company successfully raised capital to enhance its investment portfolio's yield, which is expected to improve future performance despite the current loss [2][3] - Net interest income increased to $16.6 million in Q4 2024, up from $15.3 million in Q4 2023, indicating a year-over-year growth [4][16] Financial Performance - For the three months ended December 31, 2024, net interest income was $16,625 thousand, compared to $15,293 thousand in the same period of 2023, reflecting a year-over-year increase of $1,332 thousand [4][16] - The net interest margin improved to 3.04% in Q4 2024 from 2.93% in Q4 2023, while the net interest spread increased to 2.31% from 2.23% [4][16] - Total assets as of December 31, 2024, were $2.317 billion, up from $2.201 billion a year earlier, with loans receivable growing to $1.694 billion [4][12][16] Adjusted Financial Metrics - Adjusted net income for Q4 2024 was $3,119 thousand, significantly higher than $355 thousand in Q4 2023, while adjusted diluted earnings per share rose to $0.38 from $0.04 [6][11] - The adjusted return on average assets for Q4 2024 was 0.54%, up from 0.06% in Q4 2023, and the adjusted return on tangible equity was 7.59%, compared to 1.01% in the prior year [6][10] Capital and Equity - The company’s stockholders' equity increased to $213.5 million as of December 31, 2024, from $181.1 million a year prior, reflecting a stronger capital position [4][12] - Tangible common equity ratio improved to 8.05% at the end of 2024, compared to 6.98% at the end of 2023 [4][12] Loan and Deposit Growth - Loans grew at an annualized rate of 9% during Q4 2024, indicating strong demand for credit [3] - Total deposits reached $1.859 billion as of December 31, 2024, compared to $1.795 billion a year earlier, showing a positive trend in customer deposits [4][12]

Core Viewpoint - Norwood Financial Corp has announced a change in the payment date for its fourth quarter cash dividend, moving it to February 3, 2025, while maintaining the record date of January 15, 2025 [1]. Group 1: Company Overview - Norwood Financial Corp operates through its subsidiary, Wayne Bank, with a total of fifteen offices in Northeastern Pennsylvania and fourteen offices in New York [2]. - As of September 30, 2024, the company reported total assets of $2.3 billion, outstanding loans of $1.7 billion, total deposits of $1.9 billion, and total capital of $196 million [2]. - The company's stock is traded on the Nasdaq Global Market under the symbol "NWFL" [2].

HONESDALE, Pa., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ: NWFL) (“Norwood” or the “Company”) today announced the pricing of a public offering of 1,000,000 shares of its common stock, $0.10 par value (the “Common Stock”), at a public offering price of $26.00 per share, for aggregate gross proceeds of approximately $26 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 150,000 shares of common stock (the “over-allotment option ...

Core Viewpoint - Norwood Financial Corp has announced an underwritten public offering of its common stock to support its bank subsidiary's capital ratios and for general corporate purposes, including potential acquisitions [1][2]. Group 1: Offering Details - The company intends to grant underwriters a 30-day option to purchase additional shares of its common stock [1]. - Piper Sandler & Co. is the lead book-running manager, with Janney Montgomery Scott LLC acting as the joint book-running manager for the offering [3]. Group 2: Use of Proceeds - Net proceeds from the offering will be used to support capital ratios, reposition a substantial portion of the available-for-sale debt securities portfolio, repurchase common stock, and potentially acquire other institutions or branches [2]. Group 3: Company Background - Norwood Financial Corp is the parent company of Wayne Bank, operating 14 offices in Northeastern Pennsylvania and 15 offices in New York [6]. - The company's stock trades on the Nasdaq Global Market under the symbol "NWFL" [6].