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.
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.
Norwood Financial Corp (NASDAQ: NWFL) announced a quarterly dividend of $0.26 per share, payable on February 1, 2021, to shareholders of record as of January 15, 2021. This marks a 4.0% increase from the previous quarter's dividend and is part of the company’s commitment to consistent returns, being the 29th consecutive year of dividend increases. In 2020, total cash dividends declared reached $1.01 per share, up from $0.97 in 2019. As of September 30, 2020, Norwood had total assets of $1.842 billion.
Norwood Financial Corp. (NWFL) reported Q3 2020 earnings of $4,999,000, a 28% increase from $3,907,000 in Q3 2019, largely due to the acquisition of UpState New York Bancorp. EPS remained stable at $0.62. For the first nine months, net income was $9,567,000, down from $10,619,000 in 2019, influenced by a $2.8 million loan loss provision and merger expenses. Total assets reached $1.842 billion, with substantial increases in loans and deposits attributed to the UpState acquisition and government stimulus initiatives. Non-performing assets rose to 0.74% of total assets.
Norwood Financial Corp (NASDAQ: NWFL) declared a quarterly cash dividend of $0.25 per share, payable on November 2, 2020, to shareholders on record as of October 15, 2020. This dividend matches the previous quarter's amount and marks a 4.2% increase compared to the same period last year. CEO Lewis J. Critelli highlighted the company's financial strength and solid performance as key factors for this dividend. As of June 30, 2020, Norwood reported total assets of $1.4 billion and loans outstanding of $988.7 million.
Norwood Financial Corp (NWFL) reported earnings of $1.488 million for Q2 2020, down $2.034 million from last year, primarily due to increased loan loss provisions and $1.597 million in merger expenses from acquiring UpState New York Bancorp. EPS for the quarter decreased to $0.24 from $0.56. Total assets reached $1.355 billion with loans receivable increasing by $101 million. The net interest margin decreased to 3.25%. Non-performing assets rose to $3.9 million, representing 0.29% of total assets. CEO Critelli noted the merger completion and the company's commitment to customer support during the pandemic.
Norwood Financial Corp (NASDAQ: NWFL) announced the completion of its acquisition of UpState New York Bancorp and USNY Bank, effective July 7, 2020. UpState shareholders can choose between $33.33 cash or 0.9390 shares of Norwood common stock, plus an additional $0.67 cash per share. Approximately 48.2% of shareholders opted for cash. The merger expands Norwood's presence in three New York counties, growing total assets to over $1.8 billion with 31 branches. This strategic acquisition aims to enhance customer service and operational efficiencies.
Norwood Financial Corp (NASDAQ: NWFL) announced a delay in the acquisition of UpState New York Bancorp, Inc., now expected to close around July 7, 2020, pending customary closing conditions. Norwood operates Wayne Bank in Pennsylvania and New York, while UpState is the holding company for USNY Bank, which has offices in New York. The PR also includes forward-looking statements regarding potential risks related to the merger, including integration challenges and impacts from the COVID-19 pandemic.
Lewis J. Critelli, President and CEO of Norwood Financial Corp (NASDAQ: NWFL), announced a $0.25 per share cash dividend payable on August 3, 2020, to shareholders of record as of July 17, 2020. This dividend reflects a 4.2% increase from the previous year's second quarter. Norwood Financial Corp, through its subsidiary Wayne Bank, has total assets of $1.2 billion, loans of $928.6 million, and total deposits of $990.2 million as of March 31, 2020.