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Norwood Financial Corp. - NWFL STOCK NEWS

Welcome to our dedicated page for Norwood Financial news (Ticker: NWFL), a resource for investors and traders seeking the latest updates and insights on Norwood Financial stock.

Norwood Financial Corp (NASDAQ: NWFL) is a prominent U.S.-based bank holding company founded in 1871 in Honesdale, Pennsylvania. The company operates through its primary subsidiary, Wayne Bank, which services customers with a network of 26 community offices spread across Wayne, Pike, Monroe, and Lackawanna counties in Pennsylvania, as well as Delaware and Sullivan counties in New York State.

Wayne Bank offers a comprehensive range of financial services, including personal and business credit services, trust and investment products, and real estate settlement services. It also manages automated teller machines (ATMs) at various branch locations, ensuring convenient access to banking services for its customers.

Norwood Financial Corp has consistently demonstrated robust financial performance. As of June 30, 2023, the company reported total assets of $2.142 billion, loans receivable of $1.578 billion, total deposits of $1.732 billion, and stockholders’ equity of $173.4 million. Despite the challenges posed by increasing borrowing costs and reduced net interest income, Norwood Financial Corp has maintained solid growth and financial stability.

Under the leadership of Mr. Donnelly, the company has seen notable loan growth, with a 10.9% annual increase during the second quarter of 2023. However, total deposits decreased by $27.2 million due to significant reductions in municipal account balances. The company’s operating expenses remain well-controlled, and it continues to maintain a strong capital base that exceeds 'Well-Capitalized' targets.

Norwood Financial Corp also emphasizes excellent credit quality metrics, which have remained strong and are expected to benefit future performance. The company is committed to serving its customers and stockholders, with continuous efforts to identify new opportunities and enhance customer service across Wayne Bank locations, including the Bank of the Finger Lakes and Bank of Cooperstown.

As a publicly traded company on the NASDAQ Global Market under the symbol NWFL, Norwood Financial Corp remains a significant player in the regional banking sector. The company’s forward-looking statements, as stipulated by the Private Securities Litigation Reform Act of 1995, highlight its focus on adapting to changing economic conditions, maintaining strong credit quality, and managing core operating expenses.

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Norwood Financial Corp (NASDAQ: NWFL) and its subsidiary, Wayne Bank, have appointed Ronald R. Schmalzle to their Board of Directors. Schmalzle, currently serving his second term as a Pike County Commissioner, brings extensive business and public service experience to the role. He is the President, Co-Owner, and General Manager of Recreation Management Corp, which operates several recreation-based businesses in the Pocono Mountains.

Schmalzle's appointment is expected to contribute valuable insights to the company's community impact and business strategies. His diverse background includes board experience with various local organizations and a history of involvement in youth sports. The addition of Schmalzle to the board is seen as a strategic move to enhance Norwood's leadership and community engagement.

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Norwood Financial Corp (NASDAQ: NWFL) announced a $0.30 per share cash dividend, payable on August 1, 2024, to shareholders of record as of July 15, 2024. This dividend maintains the amount declared in the first quarter of 2024 and marks a 3.5% increase over the second quarter of 2023. The dividend reflects the company’s strong financial position and overall performance. Norwood Financial, through Wayne Bank, operates in various regions of Pennsylvania and New York. As of March 31, 2024, Norwood's assets totaled $2.260 billion, with loans of $1.621 billion, deposits of $1.839 billion, and total capital of $181.2 million.

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Norwood Financial Corp (NASDAQ: NWFL) announced the appointment of John M. McCaffery as Executive Vice President and Chief Financial Officer, effective June 24, 2024. McCaffery brings over 30 years of leadership experience, most recently serving as SVP and Treasurer at Metropolitan Commercial Bank. He has a strong background in capital raising, M&A, regulatory compliance, and team development. Current CFO William S. Lance will transition to Chief Strategic Officer until his retirement on August 2, 2024. Norwood Financial Corp operates 30 offices across Pennsylvania and New York.

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Norwood Financial Corp recently held its 153rd Annual Meeting of Shareholders, where key matters such as director re-election, auditor ratification, and equity incentive plan approval were discussed. The meeting included presentations on financial results and performance highlights for 2023 and the first quarter of 2024.
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Norwood Financial Corp announced net income of $4,433,000 for the first quarter of 2024, a decrease from the previous year due to lower net interest income and increased expenses. Earnings per share were $0.55, with a return on average assets of 0.80% and a return on average equity of 9.79%. Total assets increased to $2.260 billion. Loans receivable were $1.621 billion, total deposits were $1.839 billion, and total stockholders’ equity was $181.2 million as of March 31, 2024.
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Norwood Financial Corp (NWFL) announces a $0.30 per share quarterly cash dividend, marking a 3.5% increase from the previous year. The company, with total assets of $2.201 billion, operates multiple offices in Pennsylvania and New York, showcasing strong financial performance and capital position.
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Wayne Bank appoints Joseph W. Adams as Senior VP and Director of Wealth Management and Investment Services, bringing 39 years of financial management experience. Adams to lead Wealth Management and Trust Services department, continuing his tenure from Norwood Financial Corp. Adams holds various leadership roles and community involvement, contributing to local organizations. Wayne Bank, a subsidiary of Norwood Financial Corp, operates in multiple counties in Pennsylvania and New York.
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Norwood Financial Corp (NWFL) announced a decrease in net income for the three months and year ended December 31, 2023, compared to the same periods in 2022. The decrease was primarily due to a decrease in net interest income and an increase in the provision for credit losses. Earnings per share (fully diluted) were $0.04 and $0.88 for the three-month periods ended December 31, 2023 and 2022, respectively. For the year ended December 31, 2023, earnings per share on a fully diluted basis were $2.07, compared to $3.58 for the year ended December 31, 2022. The return on average assets was 0.79%, and the return on average equity was 9.67% for the year ended December 31, 2023, compared to 1.43% and 16.11%, respectively, for the year ended December 31, 2022. Total assets were $2.201 billion as of December 31, 2023. Loans receivable were $1.604 billion, total deposits were $1.795 billion, and stockholders’ equity was $181.1 million as of December 31, 2023.
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Norwood Financial Corp (NWFL) declared a $0.30 per share quarterly dividend, representing a 3.5% increase over the previous quarter. The company's total cash dividends declared in 2023 were $1.17 per share, compared to $1.13 per share in 2022. The Board of Directors is pleased with the increase, reflecting the company's financial strength and solid performance. Norwood Financial Corp operates offices in Northeastern Pennsylvania and New York, with total assets of $2.180 billion as of September 30, 2023.
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Norwood Financial Corp (Nasdaq Global Market-NWFL) reported earnings for the three months ended September 30, 2023 of $4,119,000, a decrease of $3,990,000 compared to the same period in 2022. Earnings per share (fully diluted) were $0.51, a decrease from $1.00 in the previous year. Net income for the nine months ended September 30, 2023, totaled $16,405,000, $5,688,000 lower than the same period in 2022.
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FAQ

What does Norwood Financial Corp do?

Norwood Financial Corp is a bank holding company offering personal and business credit services, trust and investment products, and real estate settlement services.

Where is Norwood Financial Corp headquartered?

Norwood Financial Corp is headquartered in Honesdale, Pennsylvania.

Which areas do Wayne Bank's community offices serve?

Wayne Bank's community offices serve Wayne, Pike, Monroe, and Lackawanna counties in Pennsylvania, along with Delaware and Sullivan counties in New York.

What was Norwood Financial Corp’s total assets as of June 30, 2023?

As of June 30, 2023, Norwood Financial Corp reported total assets of $2.142 billion.

What is the trading symbol for Norwood Financial Corp on the NASDAQ?

Norwood Financial Corp trades on the NASDAQ Global Market under the symbol NWFL.

How did Norwood Financial Corp perform in terms of net interest income in recent quarters?

Norwood Financial Corp reported a decrease in net interest income due to increased costs of time deposits and borrowing, despite a rise in total interest income.

Who is the subsidiary of Norwood Financial Corp?

Wayne Bank is the primary subsidiary of Norwood Financial Corp.

How many community offices does Wayne Bank operate?

Wayne Bank operates 26 community offices.

What was the loan growth rate for Norwood Financial Corp in the second quarter of 2023?

Norwood Financial Corp saw a loan growth rate of 10.9% during the second quarter of 2023.

What is the focus of Norwood Financial Corp’s forward-looking statements?

The forward-looking statements focus on adapting to economic changes, maintaining credit quality, and managing operating expenses.

Norwood Financial Corp.

Nasdaq:NWFL

NWFL Rankings

NWFL Stock Data

226.07M
8.10M
9.56%
28.95%
0.67%
Commercial Banking
Finance and Insurance
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United States of America
HONESDALE