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].
Norwood Financial Corp Announces Launch of Common Stock Offering