Norwood Financial (US:NWFL) Globenewswire·2025-10-22 12:15Core Insights - Norwood Financial Corp reported strong financial results for the third quarter and year-to-date ending September 30, 2025, highlighting solid growth, improved profitability, and efficiency [1][3][7]. Financial Performance - Net income for the three months ended September 30, 2025, was $8.334 million, an increase of $4.490 million compared to the same period in 2024 [7]. - Net interest income rose to $20.458 million for the third quarter of 2025, up from $15.931 million in the same quarter of 2024, reflecting an increase of $4.527 million [1][9]. - The net interest margin improved to 3.63% in Q3 2025, compared to 2.99% in Q3 2024, marking a 64 basis points increase [1][3][9]. - Pre-Provision Net Revenue (PPNR) for the third quarter was $10.029 million, up from $6.195 million year-over-year [1][9]. Growth Metrics - Loans receivable increased to $1.815 billion as of September 30, 2025, representing an 8.3% increase from $1.675 billion in the same period last year [7][9]. - Total deposits reached $2.074 billion, an increase of 11.8% from $1.855 billion year-over-year [7][9]. - Year-to-date loan growth was at an annualized rate of 7.3%, while deposits grew at an annualized rate of 15% [3][7]. Efficiency and Returns - The efficiency ratio improved to 56.3% in Q3 2025, down from 66.0% in Q3 2024, indicating better cost management [7]. - Return on average assets increased to 1.40%, up 72 basis points from the previous year [3][7]. - Return on average tangible equity rose to 16.76%, an increase of 718 basis points year-over-year [3][7]. Brand and Market Position - The company launched its "Every Day Better" brand, which received positive feedback from customers and employees, enhancing its market presence and company culture [1][3].