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 reports recurring developments for its role as the bank holding company for Wayne Bank. Company news centers on operating and financial results, net interest income and margin trends, loan and deposit growth, cash dividends, and updates tied to its community banking franchise in Northeastern Pennsylvania and the Southern Tier of New York.
Recent corporate updates also include the completed acquisition of PB Bankshares and the merger of Presence Bank into Wayne Bank, along with integration items such as systems conversion. Norwood’s news flow reflects a regional bank model built around personal and business credit services, trust and investment products, real estate settlement services, and branch-based banking operations.
On November 15, 2021, Norwood Financial Corp (NASDAQ: NWFL) announced that CEO Lewis J. Critelli will retire in the first half of 2022 following a successor search. Critelli has been with the company since 1995 and has led significant growth, increasing total assets from $529 million to over $2 billion as of September 30, 2021. The Board is collaborating with Kaplan Partners for a smooth leadership transition, expected to conclude by June 30, 2022. Critelli will remain a director until 2024.
Norwood Financial Corp. (NWFL) reported a strong financial performance for Q3 2021, with earnings of $6.98 million, up 39.6% from $5 million in Q3 2020, driven by a $1.7 million rise in net interest income. Fully diluted EPS increased to $0.85 from $0.62. Net income for the nine months ended September 30, 2021, surged 91.1% to $18.28 million, largely due to the acquisition of UpState New York Bancorp. Total assets rose to $2.054 billion, while loans decreased by $43.7 million. The company successfully managed expenses, reporting $9.59 million for Q3, with significant growth in deposits influenced by economic stimulus funding.
Norwood Financial Corp (NWFL) has declared a cash dividend of $.26 per share, payable on November 1, 2021, to shareholders of record as of October 15, 2021. This dividend matches the previous quarter's payment and represents a 4.0% increase from the same period in 2020. CEO Lewis J. Critelli emphasized the company's robust financial strength and capital position that supports this dividend.
As of June 30, 2021, Norwood's total assets stood at $2.0 billion, with loans outstanding at $1.4 billion and total deposits of $1.7 billion.
Norwood Financial Corp (NWFL) reported record earnings of $5,755,000 for Q2 2021, a substantial increase of 287% year-over-year, largely attributed to the acquisition of UpState New York Bancorp and PPP loan fees. Earnings per share rose to $0.70 from $0.24 in the previous year. For the first half of 2021, net income reached $11,296,000, up $6,729,000 from 2020. Total assets now stand at $2.026 billion, with notable increases in loans and deposits due to the acquisition and economic stimulus.
Norwood Financial Corp (NASDAQ - NWFL) announced a quarterly cash dividend of $.26 per share, payable on August 2, 2021, to shareholders of record as of July 15, 2021. This dividend represents a 4.0% increase compared to the same period last year. President and CEO Lewis J. Critelli emphasized that this decision reflects the company's financial strength and strong capital position, with total assets reported at $2.010 billion and total capital of $195.1 million as of March 31, 2021.
Norwood Financial Corp (Nasdaq-NWFL) held its 150th Annual Meeting on April 27, 2021, featuring key financial insights from executives. Chairman William W. Davis, Jr. and CEO Lewis J. Critelli presented record earnings of $15.1 million for 2020 and first-quarter 2021 earnings of $5.5 million, with diluted earnings per share at $0.67. The company reported total assets of $2.010 billion, loans of $1.422 billion, and deposits of $1.685 billion as of March 31, 2021. Directors were re-elected, and independent auditors were ratified. A stock repurchase program for up to 5% of shares was also noted.
Norwood Financial Corp (NWFL) announced record earnings of $5,542,000 for Q1 2021, an 80% increase from Q1 2020's $3,079,000. This boost is attributed to the acquisition of UpState New York Bancorp, completed on July 7, 2020. Earnings per share rose to $0.67 from $0.49. Total assets reached $2.010 billion, with total loans and deposits growing by $493 million and $695 million, respectively. Net interest income increased by $6,078,000 year-over-year, driven by a $491.3 million rise in loans. Operating expenses grew by $2,393,000, reflecting UpState's operational costs.
Norwood Financial Corp (NASDAQ: NWFL) announced a stock repurchase program allowing it to buy back up to 5% of its outstanding shares, approximately 400,000 shares. The program aims to enhance shareholder value by increasing return on equity and earnings per share. The timing and extent of the repurchases will depend on market conditions and regulatory requirements. As of December 31, 2020, the company reported total assets of $1.852 billion and total stockholders’ equity of $194.8 million.
Norwood Financial Corp (NASDAQ: NWFL) announced a quarterly cash dividend of $0.26 per share, marking a 4.0% increase from the same quarter in 2020. This dividend is payable on May 3, 2021, to shareholders of record as of April 15, 2021. The announcement reflects the company’s financial strength and solid capital position. As of December 31, 2020, Norwood had total assets of $1.852 billion, loans outstanding of $1.411 billion, and total deposits of $1.535 billion.
Norwood Financial Corp (NWFL) reported a significant increase in earnings for Q4 2020, totaling $5,513,000, up from $3,596,000 in Q4 2019. For the year, net income rose to $15,080,000, reflecting a $865,000 increase over 2019. This performance was bolstered by the acquisition of UpState New York Bancorp, completed in July 2020. However, the company faced a $4,200,000 rise in loan loss provisions and $2,049,000 in merger-related expenses. EPS decreased from $2.25 in 2019 to $2.09 for 2020.