Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric tha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-28364 Norwood Financial Corp (Exact name of registrant as specified in its charter) Pennsylvania 23-2828306 (State or other jurisdiction of incorporation or ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a ...

[Overview and Highlights](index=1&type=section&id=Overview%20and%20Highlights) The company's strategic repositioning in Q4 2024 led to strengthened performance, robust loan and deposit growth, and a successful brand relaunch, reflected in significant Q2 2025 diluted EPS and net interest margin expansion [Management Commentary](index=1&type=section&id=Management%20Commentary) The CEO attributes the company's strengthening performance to increased yields from a Q4 2024 strategic repositioning, alongside robust growth in both loans and deposits during the first half of 2025. A new 'Every Day Better' rebranding campaign was successfully launched to enhance brand identity and company culture, positioning the company for future growth - The company's performance has strengthened due to increased yields from a Q4 2024 repositioning and improved results across all business lines[2](index=2&type=chunk) - Robust growth in both loans and deposits was achieved in the first half of 2025[2](index=2&type=chunk) - A full rebrand, the 'Every Day Better' campaign, was launched in the second quarter to articulate company values, differentiate from competitors, and energize the corporate culture[2](index=2&type=chunk) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) Norwood Financial Corp reported significant year-over-year growth for Q2 2025, with diluted EPS increasing 29% to $0.67. The net interest margin expanded by 63 basis points to 3.43%, and the return on assets rose to 1.06%. The company also saw strong annualized growth in loans (8.2% YTD) and deposits (15% YTD), coupled with an improving capital position Q2 2025 Key Performance Indicators vs. Prior Periods | Metric | Q2 2025 | Q2 2024 | Change (YoY) | Q1 2025 | Change (QoQ) | | :--- | :--- | :--- | :--- | :--- | :--- | | Diluted EPS | $0.67 | $0.52 | +$0.15 (29%) | $0.63 | +$0.04 | | Net Income (in thousands) | $6,205 | $4,213 | +$1,992 | $5,773 | +$432 | | Net Interest Margin (FTE) | 3.43% | 2.80% | +63 bps | 3.30% | +13 bps | | Return on Average Assets | 1.06% | 0.75% | +31 bps | 1.01% | +5 bps | | Return on Tangible Equity | 12.83% | 9.44% | +339 bps | 12.40% | +43 bps | - Loans grew at an **8.2% annualized rate** year-to-date, while deposits grew at a **15% annualized rate** year-to-date[4](index=4&type=chunk) - Capital position improved due to increased earnings and a lower accumulated other comprehensive income (AOCI) adjustment[4](index=4&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) The company demonstrated strong financial performance in Q2 2025, marked by increased net income, expanded net interest margin driven by higher asset yields, and significant growth in assets, loans, and deposits, alongside an improved capital position [Results of Operations (Income Statement Analysis)](index=2&type=section&id=Results%20of%20Operations%20%28Income%20Statement%20Analysis%29) For the second quarter of 2025, net income increased by $2.0 million year-over-year to $6.2 million. This was primarily driven by a $4.1 million increase in net interest income, resulting from higher asset yields and lower liability costs. Consequently, the efficiency ratio showed significant improvement, decreasing to 58.7% from 66.7% in the same period last year Income Statement Summary (Three Months Ended June 30) | (dollars in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Net Interest Income | $19,065 | $14,925 | | Provision for Credit Losses | $950 | $347 | | Total Other Income | $2,248 | $2,207 | | Total Other Expenses | $12,531 | $11,444 | | **Net Income** | **$6,205** | **$4,213** | - The efficiency ratio for Q2 2025 improved to **58.7%** compared to **66.7%** in Q2 2024[6](index=6&type=chunk) - For the first six months of 2025, non-interest income increased by **$386 thousand**, or **9.2%**, over the same period in 2024[6](index=6&type=chunk) [Financial Condition (Balance Sheet Analysis)](index=2&type=section&id=Financial%20Condition%20%28Balance%20Sheet%20Analysis%29) As of June 30, 2025, total assets grew 5.8% year-over-year to $2.365 billion. This growth was fueled by a 9.1% increase in loans receivable to $1.791 billion and a 10.3% rise in total deposits to $1.997 billion. The company's capital position strengthened, with the Tangible Common Equity ratio improving to 8.39% from 6.92% a year ago, and tangible book value per share increasing to $21.17 Balance Sheet Highlights (As of June 30) | (dollars in thousands) | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Total Assets | $2,365,350 | $2,235,316 | +5.8% | | Loans Receivable | $1,790,574 | $1,641,355 | +9.1% | | Total Deposits | $1,997,834 | $1,811,172 | +10.3% | | Total Stockholders' Equity | $225,425 | $182,187 | +23.7% | - The Tangible Common Equity ratio was **8.39%** as of June 30, 2025, a significant improvement from **6.92%** at June 30, 2024[6](index=6&type=chunk) - Tangible Book Value per share increased by **$1.32** from **$19.85** at December 31, 2024, to **$21.17** at June 30, 2025[6](index=6&type=chunk) [Net Interest Margin (NIM) Analysis](index=6&type=section&id=Net%20Interest%20Margin%20%28NIM%29%20Analysis) The company's fully taxable equivalent (FTE) net interest margin was 3.43% for Q2 2025, marking a 13 basis point increase from the prior quarter and a 63 basis point increase from Q2 2024. This expansion was driven by a significant rise in the average yield on interest-earning assets to 5.60% (up from 5.17% YoY), while the cost of interest-bearing liabilities fell to 2.84% (down from 3.11% YoY) Net Interest Margin and Spread (FTE) | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Interest Margin | 3.43% | 3.30% | 2.80% | | Net Interest Spread | 2.75% | 2.61% | 2.06% | - The average yield on total interest-earning assets increased to **5.60%** in Q2 2025, compared to **5.54%** in Q1 2025 and **5.17%** in Q2 2024[12](index=12&type=chunk) - The average rate on total interest-bearing liabilities decreased to **2.84%** in Q2 2025, down from **2.93%** in Q1 2025 and **3.11%** in Q2 2024[12](index=12&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements reveal substantial year-over-year growth in assets, loans, and deposits, with net income significantly increasing in the first half of 2025, recovering from a Q4 2024 loss on securities sales [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) The consolidated balance sheet as of June 30, 2025, shows total assets of $2.365 billion, an increase from $2.235 billion a year prior. The growth was primarily driven by an increase in net loans receivable. Total liabilities stood at $2.140 billion, while total stockholders' equity increased to $225.4 million, benefiting from higher retained earnings and a reduction in accumulated other comprehensive loss Consolidated Balance Sheet Data (in thousands) | | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | **ASSETS** | | | | Cash and cash equivalents | $53,045 | $69,395 | | Net loans receivable | $1,769,666 | $1,623,549 | | **TOTAL ASSETS** | **$2,365,350** | **$2,235,316** | | **LIABILITIES** | | | | Total deposits | $1,997,834 | $1,811,172 | | **TOTAL LIABILITIES** | **$2,139,925** | **$2,053,129** | | **STOCKHOLDERS' EQUITY** | | | | Accumulated other comprehensive loss | ($27,505) | ($49,819) | | **TOTAL STOCKHOLDERS' EQUITY** | **$225,425** | **$182,187** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) For the six months ended June 30, 2025, net income was $11.978 million, a substantial increase from $8.646 million in the same period of 2024. The improvement was driven by a 24.6% increase in net interest income to $36.923 million, which more than offset a rise in the provision for credit losses and higher operating expenses Consolidated Income Statement Data (in thousands) | | Six Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2025** | **2024** | | Total Interest Income | $61,291 | $54,608 | | Total Interest Expense | $24,368 | $24,973 | | **Net Interest Income** | **$36,923** | **$29,635** | | Provision for (Release of) Credit Losses | $1,807 | ($276) | | Total Other Income | $4,599 | $4,213 | | Total Other Expenses | $24,595 | $23,175 | | **Net Income** | **$11,978** | **$8,646** | | **Diluted EPS** | **$1.30** | **$1.07** | [Quarterly Financial Data](index=9&type=section&id=Quarterly%20Financial%20Data) The five-quarter financial data highlights a strong recovery and positive momentum. Net interest income has steadily increased from $14.9 million in Q2 2024 to $19.1 million in Q2 2025. The company rebounded from a significant net loss of $12.7 million in Q4 2024, which was caused by a one-time loss on securities sales, to achieve a net income of $6.2 million in Q2 2025. Key profitability and asset quality metrics like ROA, ROE, and NIM have shown consistent improvement throughout the first half of 2025 Quarterly Performance Trend | (in thousands, except per share) | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $19,065 | $17,857 | $16,625 | $15,931 | $14,925 | | Net (Loss) Income | $6,205 | $5,773 | $(12,651) | $3,844 | $4,213 | | Diluted (Loss) EPS | $0.67 | $0.63 | $(1.54) | $0.48 | $0.52 | - The company experienced a significant net loss in Q4 2024, primarily due to a **$19.96 million** net realized loss on the sale of securities during that quarter[17](index=17&type=chunk) - Net interest margin (FTE) has shown consistent quarterly improvement, rising from **2.80%** in Q2 2024 to **3.43%** in Q2 2025[17](index=17&type=chunk) [Other Information](index=3&type=section&id=Other%20Information) This section clarifies the use of non-GAAP financial measures, such as fully taxable equivalent net interest income and tangible equity, and provides cautionary notes regarding forward-looking statements and associated risks [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) This section provides reconciliations for non-GAAP financial measures to their nearest GAAP equivalents. It details the adjustment of net interest income to a fully taxable equivalent (FTE) basis to normalize for tax-exempt income and the calculation of average tangible equity, which excludes goodwill and other intangible assets to offer a different perspective on capital adequacy - Net interest income is adjusted to a fully taxable equivalent (FTE) basis using a **21% marginal tax rate** to facilitate comparisons of income from taxable and tax-exempt assets. The adjustment for Q2 2025 was **$199 thousand**[7](index=7&type=chunk) - Average tangible equity is derived by subtracting average goodwill and other intangible assets from average equity. For the three months ended June 30, 2025, average tangible equity was **$193,957 thousand**[7](index=7&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) The report includes a standard safe harbor provision under the Private Securities Litigation Reform Act of 1995. It cautions readers that statements about future performance are subject to various risks and uncertainties, such as changes in interest rates, credit quality, and economic conditions, which could cause actual results to differ materially from those projected - The company's forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially[8](index=8&type=chunk) - Identified risks include, among others, changes in interest rates, ability to maintain credit quality, control of operating expenses, and general economic conditions[8](index=8&type=chunk)

Core Insights - Norwood Financial Corp reported strong financial performance for the second quarter and year-to-date ending June 30, 2025, with significant growth in loans and deposits, alongside improved yields across all business lines [2][3][4]. Financial Performance - Net interest income for Q2 2025 was $19.065 million, a 27.7% increase from $14.925 million in Q2 2024 [4][10]. - The net interest margin increased to 3.43% in Q2 2025 from 2.80% in Q2 2024, reflecting a 63 basis points improvement [3][4]. - Net income for Q2 2025 was $6.205 million, up from $4.213 million in the same period last year, marking a 47.3% increase [4][10]. - Fully diluted earnings per share rose to $0.67, a 28.8% increase compared to $0.52 in Q2 2024 [3][10]. Growth Metrics - Loans grew at an annualized rate of 4.4% in Q2 2025 and 8.2% year-to-date [3][4]. - Total deposits increased by 10.3% year-over-year, reaching $1.997 billion as of June 30, 2025, compared to $1.811 billion in 2024 [8][10]. - The efficiency ratio improved to 58.7% in Q2 2025 from 66.7% in Q2 2024, indicating better cost management [4]. Capital and Asset Management - Total assets increased to $2.365 billion as of June 30, 2025, up 5.82% from $2.235 billion in 2024 [8][9]. - Tangible common equity ratio improved to 8.39% from 6.92% year-over-year [8]. - The company reported a return on average assets of 1.06%, up 31 basis points from the previous year [3][4]. Strategic Initiatives - The launch of the "Every Day Better" campaign received positive feedback, enhancing the company's brand and culture [2]. - The company continues to focus on delivering products and services that align with customer goals, contributing to its strong performance [2].

Core Viewpoint - Norwood Financial Corp and PB Bankshares, Inc. have announced a merger agreement, with Presence Bank merging into Wayne Bank, significantly expanding Norwood's geographic footprint and enhancing service capabilities [1][3][4]. Company Overview - Norwood Financial, through Wayne Bank, operates 30 banking offices with consolidated assets of $2.4 billion as of March 31, 2025 [2][10]. - PB Bankshares, the holding company for Presence Bank, operates four banking offices and had assets of $467 million as of March 31, 2025 [2][11]. Merger Details - The merger will create a combined entity with approximately $3.0 billion in assets, positioning it as a premier community bank in Pennsylvania [2][3]. - Under the merger agreement, 80% of Presence's common shares will convert into Norwood Financial common stock, while 20% will be exchanged for cash, with an aggregate transaction value of approximately $54.9 million [4][5]. - The purchase price reflects a multiple of 106.6% of Presence's tangible book value as of March 31, 2025, and a 2.3% core deposit premium [4]. Strategic Benefits - The merger is expected to be approximately 10% accretive to earnings per share in 2026, enhancing market share in Central and Southeastern Pennsylvania [5][8]. - Presence Bank's customers will gain access to a broader product mix and improved services, enhancing the overall customer experience [4][5]. Leadership and Governance - Two non-employee board members from Presence Bank will join the boards of Norwood Financial and Wayne Bank [6]. - Janak M. Amin, President and CEO of Presence, will become Executive Vice President and Chief Operating Officer of Wayne Bank post-merger [4][7]. Regulatory and Closing Conditions - The merger is subject to customary closing conditions, including regulatory approvals and shareholder approval from Presence [8]. - The transaction is expected to close in late Q4 2025 or early Q1 2026 [8].

Financial Performance - For the three months ended March 31, 2025, net income increased to $5,773,000 from $4,433,000 for the same period in 2024, representing a growth of 30.3%[131]. - Net income for the three months ended March 31, 2025, was $5,773,000, an increase of 30.2% from $4,433,000 for the same period in 2024[132]. - Earnings per share for the three months ended March 31, 2025, were $0.63, compared to $0.55 for the same period in 2024, reflecting a 14.5% increase[131]. - The annualized return on average assets for the three months ended March 31, 2025, was 1.01%, up from 0.80% in the same period of 2024[131]. - The annualized return on average equity for the three months ended March 31, 2025, was 10.73%, compared to 9.79% for the same period in 2024[131]. Loans and Credit Quality - Loans receivable totaled $1.751 billion at March 31, 2025, reflecting a $57.0 million increase from $1.694 billion at December 31, 2024, driven by increases in commercial real estate loans, commercial loans, consumer loans, and residential loans[106]. - The allowance for credit losses was $20.442 million as of March 31, 2025, representing 1.15% of total loans outstanding, compared to $19.843 million or 1.16% at December 31, 2024[107]. - Non-performing loans totaled $7.951 million or 0.45% of total loans as of March 31, 2025, slightly down from $7.874 million or 0.46% at December 31, 2024[108]. - The provision for credit losses was $857,000 for the three months ended March 31, 2025, compared to a release of $624,000 for the same period in 2024[136]. - The allowance for credit losses related to loans receivable was 1.15% of loans receivable as of March 31, 2025, representing 257% of non-performing loans[136]. Assets and Equity - Total assets increased to $2.376 billion as of March 31, 2025, up from $2.317 billion as of December 31, 2024, primarily due to a $57.6 million increase in gross loans outstanding[104]. - Total stockholders' equity increased to $220.7 million as of March 31, 2025, up from $213.5 million at December 31, 2024, due to net income and an increase in the fair value of securities[114]. - The fair value of securities available for sale was $408.7 million as of March 31, 2025, up from $397.8 million at December 31, 2024[105]. - Total liquidity as of March 31, 2025, was $484.1 million, representing 20.4% of total assets, slightly up from $470.1 million and 20.3% of total assets as of December 31, 2024[121]. - The Company had cash and cash equivalents of $75.4 million as of March 31, 2025[121]. Deposits and Borrowings - Total deposits increased by $145.3 million during the three months ended March 31, 2025, primarily due to an $80.6 million increase in interest-bearing demand deposits[110]. - Short-term borrowings decreased to $0 at March 31, 2025, from $113.1 million at December 31, 2024, primarily due to a decrease in overnight borrowings[111]. - The maximum borrowing capacity with the Federal Home Loan Bank was approximately $658.3 million as of March 31, 2025, with $118.6 million outstanding[123]. Interest Income and Margin - Net interest income for the three months ended March 31, 2025, rose by $3,147,000, contributing to the overall increase in net income[131]. - Net interest income on a fully taxable equivalent basis for the three months ended March 31, 2025 totaled $18,054,000, an increase of $3,149,000 compared to the same period in 2024[133]. - Interest income (fte) increased to $30,281,000 for the three months ended March 31, 2025, with a yield on average earning assets of 5.54%, compared to $27,133,000 and 5.10% for the same period in 2024[134]. - The net interest margin (tax equivalent basis) for the three months ended March 31, 2025, was 3.30%, up from 2.80% for the same period in 2024[126]. Regulatory Capital - Tier 1 Capital to average assets ratio was 9.40% as of March 31, 2025, compared to 9.36% at December 31, 2024[116]. - The total capital ratio to risk-weighted assets was 13.19% as of March 31, 2025, down from 13.45% as of December 31, 2024[116]. - The Company maintained compliance with all applicable regulatory capital requirements as of March 31, 2025, under the Basel III Capital Rules[119]. - The Company adopted the transition guidance for CECL in the first quarter of 2023, impacting regulatory capital calculations[120]. Other Income and Expenses - Other income totaled $2,351,000 for the three months ended March 31, 2025, an increase from $2,006,000 in the same period in 2024[137]. - Other expenses totaled $12,064,000 for the three months ended March 31, 2025, an increase of $332,000 compared to the same period in 2024[138]. - Income tax expense for the three months ended March 31, 2025 was $1,514,000, with an effective tax rate of 20.8%[139].

Group 1: Earnings Performance - Norwood Financial Corp. reported quarterly earnings of $0.63 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, and up from $0.55 per share a year ago, representing an earnings surprise of 6.78% [1] - The company posted revenues of $20.21 million for the quarter ended March 2025, which missed the Zacks Consensus Estimate by 1.54%, compared to year-ago revenues of $16.72 million [2] - Over the last four quarters, Norwood Financial has surpassed consensus EPS estimates only once [2] Group 2: Stock Performance and Outlook - Norwood Financial shares have declined approximately 17.5% since the beginning of the year, while the S&P 500 has decreased by 10.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.61 on revenues of $20.87 million, and for the current fiscal year, it is $2.51 on revenues of $84.43 million [7] Group 3: Industry Context - The Zacks Industry Rank indicates that the Banks - Northeast industry is currently in the top 23% of over 250 Zacks industries, suggesting a favorable environment for stocks in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

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 ...