Welcome to our dedicated page for Norwood Finl news (Ticker: NWFL), a resource for investors and traders seeking the latest updates and insights on Norwood Finl stock.
Norwood Financial Corp (NWFL) provides essential financial services through its subsidiary Wayne Bank, serving Pennsylvania and New York communities since 1871. This news hub offers investors and stakeholders centralized access to verified corporate developments and regulatory disclosures.
Track critical updates including quarterly earnings reports, strategic acquisitions, leadership appointments, and compliance filings. Our curated collection ensures transparent monitoring of NWFL's community banking operations, trust services expansion, and real estate settlement activities.
Key content categories include:
- Financial performance disclosures
- Regulatory compliance updates
- Service area expansions
- Technology implementation announcements
- Board governance changes
Bookmark this page for streamlined tracking of NWFL's evolving position in regional banking. Combine historical context with current developments to inform your analysis of this established financial institution.
Norwood Financial Corp (Nasdaq: NWFL) reported net income of $5.78 million for Q1 2023, a decrease of $1.35 million from Q1 2022. This decline is primarily attributed to a $1.43 million decrease in other income. Earnings per share were $0.71, down from $0.87 a year earlier. The annualized return on average assets was 1.13% and on average equity was 13.61%, both lower compared to 1.39% and 14.22% in the previous year. Total assets grew to $2.104 billion, with loans of $1.536 billion and deposits of $1.756 billion. The net interest income slightly decreased to $16.28 million, with a narrower annualized net interest spread of 2.83%. Operating expenses rose 2.7% to $10.44 million, influenced by the new CECL accounting standard, which increased the allowance for credit losses by $2.22 million.
Norwood Financial Corp (NASDAQ - NWFL) announced a quarterly cash dividend of $0.29 per share, payable on May 1, 2023, to shareholders of record as of April 14, 2023. This dividend marks a 3.6% increase from the same period last year. CEO James O. Donnelly emphasized the dividend reflects the company’s financial strength and solid performance. As of December 31, 2022, Norwood reported total assets of $2.047 billion, loans of $1.474 billion, and total deposits of $1.728 billion, maintaining strong capital position.
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