Norwood Financial Q3 2026 net income rises to $11.8M

Two loans related to the borrower remained with $7.1 million in exposure after the purchase; past-due interest and debtor-in-possession financing were settled.

Rhea-AI Filing Summary

Norwood Financial Corp (NWFL) reported third-quarter 2026 net income of $11.763 million for the three months ended September 30, compared with $8.334 million a year earlier. Net interest income was $28.009 million versus $20.458 million, while net interest margin on a fully taxable equivalent basis was 4.01%, compared with 3.63%. Diluted earnings per share were $1.08, versus $0.89.

During the quarter, a new entity purchased one loan previously placed on non-accrual and the underlying business. The company said past-due interest was paid and debtor-in-possession financing, interest and fees were settled as part of the purchase. A $729,000 charge-off related to the borrower relationship was recorded in the second quarter; two related loans totaling $7.1 million remained after the purchase. Total assets were $2,951.557 million as of September 30, 2026.

Norwood disclosed a share repurchase program adopted in August 2026 for up to ~5% of outstanding shares. Its stated targets include 6%+ asset growth and +$5B in assets (+67% from current level).

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Positive

• Moderate pointQ3 net income: $11.763 million, versus $8.334 million a year earlier.
• Moderate pointQ3 net interest income: $28.009 million, versus $20.458 million a year earlier.

Negative

• Moderate pointQ3 2026 nonperforming loans: 0.73% of loans, versus 0.36% a year earlier.

Filing Explained

The completed purchase by a new entity of one previously non-accrual loan raised Norwood Financial Corp's third-quarter interest income and margin and lowered provision expense; the filing identifies the credit resolution as a source of support for reported-quarter earnings.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $11.763 million Net interest income: $28.009 million Diluted earnings per share: $1.08 +5 more

8 metrics

Net income $11.763 million Three months ended September 30, 2026; $8.334 million in 2025

Net interest income $28.009 million Three months ended September 30, 2026; $20.458 million in 2025

Diluted earnings per share $1.08 Three months ended September 30, 2026; $0.89 in 2025

Net interest margin (fully taxable equivalent) 4.01% Three months ended September 30, 2026; 3.63% in 2025

Pre-provision net revenue $15.377 million Three months ended September 30, 2026; non-GAAP measure

Nonperforming loans to total loans 0.73% As of September 30, 2026; 0.36% as of September 30, 2025

Exposure on two remaining related loans $7.1 million Following the third-quarter loan purchase

Total assets $2,951.557 million As of September 30, 2026

Key Terms

debtor-in-possession (DIP) financing, non-accrual, Pre Provision Net Revenue (PPNR), fully taxable equivalent

4 terms

debtor-in-possession (DIP) financing financial

"advanced debtor-in-possession (DIP) financing to keep the business operating"

non-accrual financial

"one of the loans that had been placed on non-accrual"

A non-accrual loan or asset is one for which a lender has stopped counting expected interest as income because the borrower is very late on payments or in serious financial trouble. For investors, non-accruals signal that future cash from interest is uncertain and that the lender may need to write down the loan’s value or set aside extra reserves, similar to a landlord who stops recording rent when a tenant stops paying.

Pre Provision Net Revenue (PPNR) financial

"Pre Provision Net Revenue (PPNR) (Non-GAAP)"

Pre-provision net revenue (PPNR) is a bank’s core income before setting aside money for potential loan losses and other safety cushions. Think of it as the household’s paycheck minus routine bills but before putting money into an emergency fund for bad loans; it shows how well the business generates earnings from lending, fees and operations. Investors use PPNR to judge a bank’s underlying profitability and its ability to absorb future credit problems.

fully taxable equivalent financial

"Net interest income on a fully taxable equivalent basis"

A fully taxable equivalent converts a tax-free yield into the pretax yield you would need from a taxable investment to get the same after-tax return, using an investor’s marginal tax rate. Think of it like inflating a discounted price to the full sticker price so you can compare items side‑by‑side; investors use it to fairly compare tax-exempt securities with taxable alternatives and choose the better after-tax income.

Earnings Snapshot

Net income: $11.763 million · Guidance included

Three months ended September 30, 2026

Net income $11.763 million Up $3.429 million year over year

Net interest income $28.009 million Up $7.551 million year over year

Diluted earnings per share $1.08 Up $0.19 year over year

Net interest margin (fully taxable equivalent) 4.01% Up 38 basis points year over year

Pre-provision net revenue $15.377 million Up $5.348 million year over year

Guidance

The stated targets are 6%+ asset growth and +$5B in assets (+67% from current level).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did NWFL earn in Q3 2026?

Norwood reported net income of $11.763 million for the three months ended September 30, 2026, compared with $8.334 million for the same period in 2025.

What were NWFL's net interest income and margin in Q3 2026?

Net interest income was $28.009 million, and net interest margin on a fully taxable equivalent basis was 4.01%. The comparable 2025 figures were $20.458 million and 3.63%.

What financing did Wayne Bank provide during the borrower’s bankruptcy?

Wayne Bank advanced debtor-in-possession financing to keep the business operating. The financing, along with interest and fees, was settled as part of the loan purchase.

Does NWFL have a share repurchase program?

The company adopted a program in August 2026 to repurchase up to ~5% of outstanding shares.

What asset growth targets did NWFL state?

The company stated a target of 6%+ asset growth and +$5B in assets (+67% from current level).

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/27/2026 - 07:47 AM EDT Accepted by SEC EDGAR 10/27/2026 - 07:46 AM EDT Learn about SEC filing dates

false000101327200010132722026-10-272026-10-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________

FORM 8-K

________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

_____________________________

Date of Report (Date of earliest event reported): October 27, 2026

_____________________________

NORWOOD FINANCIAL CORP

(Exact Name of Registrant as Specified in its Charter)

________________

Pennsylvania	0-28364	23-2828306
(State or Other Jurisdiction ‎of Incorporation)	(Commission File Number)	(I.R.S. Employer ‎Identification Number)

717 Main Street, Honesdale, Pennsylvania		18431
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code:(570) 253-1455

Not Applicable

(Former name or former address, if changed since last report)

________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of class		Trading symbol(s)		Name of exchange on which registered
Common Stock, $0.10 par value		NWFL		The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

‎

Item 2.02 Results of Operations and Financial Condition

On October 27, 2026, Norwood Financial Corp (the “Company”), the holding company for Wayne Bank, issued a press release in which it announced its earnings for the quarter ended September 30, 2026.

A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 7.01Regulation FD Disclosure

On October 27, 2026, the Company will host a call with respect to earnings for the quarter ended September 30, 2026 and will use and post an earnings presentation for the quarterly results of operations (the “Earnings Presentation”). This presentation will be used at Investor meetings throughout the quarter. The Earnings Presentation is included as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The information included in this Current Report pursuant to this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01Financial Statements and Exhibits

(d)Exhibits:

Exhibit No.		Description
99.1		Press Release, dated October 27, 2026.
99.2		Norwood Financial Corp Earnings Presentation for the Quarter Ended September 30, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

‎

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

						NORWOOD FINANCIAL CORP
DATE: October 27, 2026				By:		/s/ John M. McCaffery
						John M. McCaffery
						Executive Vice President and Chief Financial Officer
						(Duly Authorized Representative)





FOR IMMEDIATE RELEASE

Norwood Financial Corp announces Third Quarter Financial Results

Quarterly Highlights:

· Record net income of $11.8 million.

· Record net interest income of $28.0 million.

· Net interest margin 4.01%.

· Diluted earnings per share of $1.08.

· Total assets of $2.95 billion.

· Disciplined execution across the enterprise plus contribution from Presence Bank acquisition contributed to the strong performance.



Honesdale, Pennsylvania – October 27, 2026 - Norwood Financial Corp (the “Company”) (Nasdaq Global Market-NWFL), the holding company of Wayne Bank, announced results for the three- and nine-month periods ended September 30, 2026.

Jim Donnelly, President and Chief Executive Officer, stated, “The entire Wayne Bank team continued to perform well in the third quarter, delivering record net income and net interest income for the second consecutive quarter.  In addition to strong income growth, we navigated the bankruptcy related to a borrower relationship, resolving the issue with favorable outcome. Net interest margin expanded on disciplined balance sheet management and one-time benefit of the bankruptcy resolution.  Our financial position is strong and believe we are poised to extend our performance for long-term shareholder value creation.”







	Year-Over Year			Linked Quarter		Year-to-Date
(dollars in thousands, except per share data)	3 Months Ended			3 Months Ended		9 Months Ended
	Sep-26	Sep-25	Change	Jun-26	Change	Sep-26	Sep-25	Change
Net interest income	$  28,009	$  20,458	$   7,551	$  26,839	$   1,170	$  79,402	$  57,380	$  22,022
Net interest spread (fte) 1	3.36%	2.94%	42 bps	3.27%	9 bps	3.23%	2.77%	46 bps
Net interest margin (fte) 1	4.01%	3.63%	38 bps	3.90%	11 bps	3.87%	3.46%	140 bps
Pre Provision Net Revenue (PPNR) 1	$  15,377	$  10,029	$   5,348	$  13,573	$   1,804	$  28,223	$  24,346	$    3,877
Net income	$  11,763	$    8,334	$   3,429	$    9,328	$   2,435	$  24,821	$  20,313	$    4,508
Diluted earnings per share	$      1.08	$      0.89	$     0.19	$      0.86	$     0.22	$      2.29	$      2.22	$      0.07
Return on average assets	1.60%	1.40%	20 bps	1.28%	32 bps	1.15%	1.16%	(1 bp)
Return on tangible equity	18.51%	16.76%	175 bps	15.04%	347 bps	13.25%	14.04%	(79 bps)





Excluding merger-related and 2026 BOLI Restructuring Fees (see Non-GAAP reconciliations)



	Year-Over Year			Linked Quarter		Year-to-Date
(dollars in thousands, except per share data)	3 Months Ended			3 Months Ended		9 Months Ended
	Sep-26	Sep-25	Change	Jun-26	Change	Sep-26	Sep-25	Change
Pre Provision Net Revenue (PPNR) 1	$  15,377	$  10,029	$   5,348	$  13,573	$   1,804	$  35,229	$  24,346	$  10,883
Net income	$  11,763	$    8,334	$   3,429	$    9,328	$   2,435	$  24,821	$  20,313	$    4,508
Diluted earnings per share	$      1.08	$      0.89	$     0.19	$      0.86	$     0.22	$      2.29	$      2.22	$      0.07
Return on average assets	1.60%	1.47%	13 bps	1.08%	52 bps	1.39%	1.20%	19 bps
Returnon average Tangible equity	18.51%	17.66%	85 bps	13.08%	543 bps	16.04%	14.54%	150 bps



Discussion of financial results for the three months ended September 30, 2026 (all comparisons are to third quarter 2025, unless otherwise noted):

· Net income was $11.8 million, an increase of $3.4 million from $8.3 million. Diluted earnings per share were $1.08 compared to $0.89.

· Net interest income was $28.0 million, an increase of $7.6 million from $20.5 million. On a linked-quarter basis, net interest income increased $1.2 million from $26.8 million.

· Net interest margin (fully taxable equivalent) was 4.01% compared to 3.63%. On a linked-quarter basis, NIM increased 11 basis points from 3.90%.

· Pre-provision net revenue (PPNR) was $15.4 million, compared to $10.0 million in the prior year quarter and $13.6 million in the linked quarter.

· Total assets were $2.951 billion, compared to $2.412 billion, an increase of 18.3%.

· Loans receivable were $2.294 billion compared to $1.815 billion, an increase of 20.9%.

· Total deposits were $2.509 billion compared to $2.074 billion, an increase of 17.3%.

· Tangible book value per share was $22.35 compared to $21.19 at September 30, 2025, and decreased $0.61 on a linked-quarter basis from $22.96.

· Allowance for credit losses to total loans was 1.10%. Nonperforming loans to total loans were 0.73% and nonperforming assets to total assets were 0.59%.

Follow-up on Second Quarter Credit Event

During the second quarter of 2026, the Company recorded a $729 thousand charge-off related to a borrower relationship that filed for Chapter 11 bankruptcy protection.

During the third quarter, one of the loans that had been placed on non-accrual, due to the bankruptcy previously disclosed, was purchased by a new entity, as was the underlying business. All past due interest from the previous loan was paid. During the period that the business was in bankruptcy, Wayne Bank advanced debtor-in-possession (DIP) financing to keep the business operating. The DIP financing along with all interest and fees was settled as part of the loan purchase. Accordingly, interest income increased in the third quarter which, in turn, increased our margin during the quarter. Additionally, removing the previous loan from non-accrual status resulted in a lower provision expense for the quarter.

Following the purchase of this loan, there remain two loans related to the borrower with a total exposure of $7.1 million.



About Norwood Financial Corp 

Norwood Financial Corp, through its subsidiary, Wayne Bank, operates 33 Community Offices serving Wayne, Pike, Monroe, Lackawanna, Luzerne, Chester, Cumberland, and Lancaster Counties in Pennsylvania, along with Delaware, Sullivan, Otsego, Ontario, and Yates Counties in New York. The Company has total assets of $2.9 billion. The Company’s stock is traded on the Nasdaq Global Market under the symbol “NWFL”. For more information, visit wayne.bank.



Forward-Looking Statements



In addition to historical information, this earnings release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which describes the future plans, strategies and expectations of the Company. Forward-looking statements can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “assume,” “plan,” “seek,” “expect,” “will,” “may,” “should,” “indicate,” “would,” “contemplate,” “continue,” “target” and words of similar meaning. Forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Accordingly, you should not place undue reliance on such statements. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this report.  Those risks and uncertainties include, among other things, changes in federal and state laws, changes in interest rates, our ability to maintain strong credit quality metrics, our ability to have future performance, our ability to control core operating expenses and costs, demand for real estate, government fiscal and trade policies, cybersecurity and general economic conditions. The Company undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.



Non-GAAP Measures

In addition to presenting information in conformity with accounting principles generally accepted in the United States of America (GAAP), this news release contains financial information determined by methods other than GAAP (non-GAAP). The following measures used in this release, which are commonly utilized by financial institutions, have not been specifically exempted by the Securities and Exchange Commission ("SEC") and may constitute "non-GAAP financial measures" within the meaning of the SEC's rules.

The Company has provided in this news release supplemental disclosures for the calculation of Return on Average Assets, Return on Average Tangible Shareholders’ Equity, Basic Earnings per Share, Diluted Earnings per Share, Tangible Book Value and Pre Provision Net Revenue. Management believes that the non-GAAP financial measures disclosed by the Company from time to time are useful in evaluating the Company’s performance and that such information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Our non-GAAP financial measures may differ from similar measures presented by other companies.



Contact: John M. McCaffery

    Executive Vice President & 

    Chief Financial Officer

    NORWOOD FINANCIAL CORP

    272-304-3003

www.waynebank.com











NORWOOD FINANCIAL CORP
Consolidated Balance Sheets
(dollars in thousands, except share and per share data)
(unaudited)
	September 30
	2026			2025
ASSETS
Cash and due from banks	$	19,857		$	50,348
Interest-bearing deposits with banks		52,667			24,382
Cash and cash equivalents		72,524			74,730

Securities available for sale		429,492			403,989
Loans receivable		2,294,467			1,814,682
Less: Allowance for credit losses		25,146			19,911
Net loans receivable		2,269,321			1,794,771
Regulatory stock, at cost		8,460			6,163
Bank premises and equipment, net		25,140			22,292
Bank owned life insurance		62,738			45,821
Foreclosed real estate owned		771			—
Accrued interest receivable		10,609			8,686
Deferred tax assets, net		22,982			16,528
Goodwill		36,375			29,266
Other intangible assets		2,992			109
Other assets		10,153			9,596
TOTAL ASSETS	$	2,951,557		$	2,411,951

LIABILITIES
Deposits:
Non-interest bearing demand	$	487,753		$	424,027
Interest-bearing		2,021,227			1,649,941
Total deposits		2,508,980			2,073,968
Short-term borrowings		56,124			—
Other borrowings		62,728			72,071
Accrued interest payable		10,467			9,823
Other liabilities		29,897			21,184
TOTAL LIABILITIES		2,668,196			2,177,046

STOCKHOLDERS' EQUITY
Preferred Stock, no par value per share, authorized 5,000,000 shares		—			—
Common Stock, $.10 par value per share,
authorized: 20,000,000 shares,
issued: 2026: 11,184,631 shares, 2025: 9,491,558 shares		1,118			949
Surplus		174,650			127,190
Retained earnings		154,956			136,662
Treasury stock, at cost: 2026: 269,841 shares, 2025: 229,233 shares		(7,390)			(6,188)
Accumulated other comprehensive loss		(39,973)			(23,708)
TOTAL STOCKHOLDERS' EQUITY		283,361			234,905

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY	$	2,951,557		$	2,411,951









****



NORWOOD FINANCIAL CORP
Consolidated Statements of Income
(dollars in thousands, except per share data)
(unaudited)
	Three Months Ended September 30,							Nine Months Ended September 30,
	2026			2025				2026			2025
INTEREST INCOME
Loans receivable, including fees	$	36,635		$	28,141			$	106,093		$	81,244
Securities		4,472			3,907				13,076			11,648
Other		354			144				1,132			590
Total Interest income		41,461			32,192				120,301			93,482

INTEREST EXPENSE
Deposits		12,775			10,730				38,462			32,347
Short-term borrowings		37			105				128			774
Other borrowings		640			899				2,309			2,981
Total Interest expense		13,452			11,734				40,899			36,102
NET INTEREST INCOME		28,009			20,458				79,402			57,380
PROVISION FOR (RELEASE OF) CREDIT LOSSES		100			(502)				3,503			1,305
NET INTEREST INCOME AFTER PROVISION FOR (RELEASE OF) CREDIT LOSSES		27,909			20,960				75,899			56,075


OTHER INCOME
Service charges and fees		2,004			1,660				5,425			4,687
Income from fiduciary activities		265			254				751			805
Gains on sales of loans, net		58			130				188			242
Earnings and proceeds on life insurance policies		334			268				974			820
Other		259			193				824			551
Total other income		2,920			2,505				8,162			7,105

OTHER EXPENSES
Salaries and  employee benefits		8,274			6,696				25,497			19,773
Occupancy, furniture and equipment		1,521			1,361				4,815			4,088
Data processing  and related operations		1,650			1,087				4,660			3,361
Taxes, other than income		145			192				521			577
Professional fees		530			400				1,952			1,532
FDIC Insurance assessment		639			368				1,574			1,129
Foreclosed real estate		58			1				125			143
Amortization of intangibles		162			12				493			42
Merger		—			568				4,994			718
Other		2,573			2,249				7,704			6,166
Total other expenses		15,552			12,934				52,335			37,529

INCOME BEFORE TAX EXPENSE		15,277			10,531				31,726			25,651
INCOME TAX EXPENSE		3,514			2,197				6,905			5,338
NET INCOME	$	11,763		$	8,334			$	24,821		$	20,313

Basic earnings per share	$	1.08		$	0.89			$	2		$	2.22

Diluted earnings per share	$	1.08		$	0.89			$	2		$	2.22







NORWOOD FINANCIAL CORP
NET INTEREST MARGIN ANALYSIS
(dollars in thousands)

	For the Quarter Ended
	September 30, 2026									June 30, 2026										September 30, 2025
	Average					Average				Average						Average				Average						Average
	Balance			Interest		Rate				Balance				Interest		Rate				Balance				Interest		Rate
	(2)			(1)		(3)				(2)				(1)		(3)				(2)				(1)		(3)
Assets
Interest-earning assets:
Fed funds sold	$	15			—		—	%		$	1,511				14		3.72	%		$	—				—		—	%
Interest-bearing deposits with banks		39,717		$	354		3.54				43,467			$	364		3.36				12,485			$	144		4.58
Securities available for sale:
Taxable		439,064			4,224		3.82				435,004				4,246		3.92				399,090				3,661		3.64
Tax-exempt (1)		43,956			322		2.91				44,269				315		2.85				44,074				312		2.81
Total securities available for sale (1)		483,020			4,546		3.73				479,273				4,561		3.82				443,164				3,973		3.56
Loans receivable (1) (4) (5)		2,267,664			36,760		6.43				2,253,991				35,700		6.35				1,802,046				28,267		6.22
Total interest-earning assets		2,790,416			41,660		5.92				2,778,242				40,639		5.87				2,257,695				32,384		5.69
Non-interest earning assets:
Cash and due from banks		19,466									30,147										31,050
Allowance for credit losses		(26,101)									(24,556)										(21,128)
Other assets		125,818									129,320										96,142
Total non-interest earning assets		119,183									134,911										106,064
Total Assets	$	2,909,599								$	2,913,153									$	2,363,759
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Interest-bearing demand and money market	$	741,251		$	3,519		1.88			$	727,580			$	3,460		1.91			$	579,145			$	2,900		1.99
Savings		230,456			268		0.46				231,852				200		0.35				200,559				113		0.22
Time		1,045,893			8,989		3.41				1,071,210				9,239		3.46				822,491				7,717		3.72
Total interest-bearing deposits		2,017,600			12,776		2.51				2,030,642				12,899		2.55				1,602,195				10,730		2.66
Short-term borrowings		3,540			36		4.03				3,233				32		3.97				8,740				105		4.77
Other borrowings		63,901			640		3.97				67,802				687		4.06				81,125				899		4.40
Total interest-bearing liabilities		2,085,041			13,452		2.56				2,101,677				13,618		2.60				1,692,060				11,734		2.75
Non-interest bearing liabilities:
Demand deposits		494,690									486,557										416,150
Other liabilities		38,244									36,585										28,816
Total non-interest bearing liabilities		532,934									523,142										444,966
Stockholders' equity		291,624									288,334										226,733
Total Liabilities and Stockholders' Equity	$	2,909,599								$	2,913,153									$	2,363,759
Net interest income/spread (tax equivalent basis)					28,208		3.36	%							27,021		3.27	%							20,650		2.94	%
Tax-equivalent basis adjustment					(199)										(182)										(192)
Net interest income				$	28,009									$	26,839									$	20,458
Net interest margin (tax equivalent basis)							4.01	%									3.90	%									3.63	%


(1)  Interest and yields are presented on a tax-equivalent basis.
(2)  Average balances have been calculated based on daily balances.
(3)  Annualized
(4)  Loan balances include non-accrual loans and are net of unearned income.
(5)  Loan yields include the effect of amortization of deferred fees, net of costs.









NORWOOD FINANCIAL CORP
NET INTEREST MARGIN ANALYSIS
(dollars in thousands)

	Year to Date
	September 30, 2026										June 30, 2026									September 30, 2025
	Average						Average				Average					Average				Average						Average
	Balance				Interest		Rate				Balance			Interest		Rate				Balance				Interest		Rate
	(2)				(1)		(3)				(2)			(1)		(3)				(2)				(1)		(3)
Assets
Interest-earning assets:
Fed funds sold	$	818				25		4.09	%		$	1,226			25		4.11	%		$	—				—		—	%
Interest-bearing deposits with banks		51,908			$	1,107		2.85				58,074		$	753		2.61				17,427			$	590		4.53
Securities available for sale:
Taxable		429,970				12,328		3.83				425,350			8,104		3.84				403,947				10,907		3.61
Tax-exempt (1)		44,285				955		2.88				44,451			633		2.87				44,157				938		2.84
Total securities available for sale (1)		474,255				13,283		3.74				469,801			8,737		3.75				448,104				11,845		3.53
Loans receivable (1) (4) (5)		2,239,147				106,460		6.36				2,224,699			69,700		6.32				1,776,629				81,636		6.14
Total interest-earning assets		2,766,128				120,875		5.84				2,753,800			79,215		5.80				2,242,160				94,071		5.61
Non-interest earning assets:
Cash and due from banks		26,719										30,409									30,035
Allowance for credit losses		(24,691)										(23,976)									(20,675)
Other assets		128,943										130,526									94,389
Total non-interest earning assets		130,971										136,959									103,749
Total Assets	$	2,897,099									$	2,890,759								$	2,345,909
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Interest-bearing demand and money market	$	730,956			$	10,441		1.91			$	725,787		$	6,922		1.92			$	566,762			$	8,588		2.03
Savings		227,101				605		0.36				225,380			337		0.30				205,552				374		0.24
Time		1,052,670				27,416		3.48				1,056,053			18,427		3.52				812,778				23,385		3.85
Total interest-bearing deposits		2,010,727				38,462		2.56				2,007,220			25,686		2.58				1,585,092				32,347		2.73
Short-term borrowings		4,337				128		3.95				4,782			92		3.88				23,468				774		4.41
Other borrowings		75,503				2,309		4.09				81,395			1,669		4.13				90,110				2,981		4.42
Total interest-bearing liabilities		2,090,567				40,899		2.62				2,093,397			27,447		2.64				1,698,670				36,102		2.84
Non-interest bearing liabilities:
Demand deposits		479,931										472,412									395,470
Other liabilities		36,680										35,886									28,978
Total non-interest bearing liabilities		516,611										508,298									424,448
Stockholders' equity		289,921										289,064									222,791
Total Liabilities and Stockholders' Equity	$	2,897,099									$	2,890,759								$	2,345,909
Net interest income/spread (tax equivalent basis)						79,976		3.23	%						51,768		3.16	%							57,969		2.77	%
Tax-equivalent basis adjustment						(574)									(375)										(589)
Net interest income					$	79,402								$	51,393									$	57,380
Net interest margin (tax equivalent basis)								3.87	%								3.79	%									3.46	%


(1)  Interest and yields are presented on a tax-equivalent basis.
(2)  Average balances have been calculated based on daily balances.
(3)  Annualized
(4)  Loan balances include non-accrual loans and are net of unearned income.
(5)  Loan yields include the effect of amortization of deferred fees, net of costs.









NORWOOD FINANCIAL CORP
Financial Highlights (Unaudited)
(dollars in thousands, except per share data)

For the Three Months Ended September 30	2026			2025

Net interest income	$	28,009		$	20,458
Net income		11,763			8,334

Net interest spread (fully taxable equivalent)		3.36%			2.94%
Net interest margin (fully taxable equivalent)		4.01%			3.63%
Return on average assets		1.60%			1.40%
Return on average equity		16.00%			14.58%
Return on average tangible equity		18.51%			16.76%
Basic earnings per share	$	1.08		$	0.89
Diluted earnings per share	$	1.08		$	0.89
Efficiency ratio		50.28%			56.33%
Operating expense/Average assets		2.14%			2.19%

For the Nine Months Ended September 30	2026			2025

Net interest income		79,402			57,380
Net income		24,821			20,313

Net interest spread (fully taxable equivalent)		3.23%			2.77%
Net interest margin (fully taxable equivalent)		3.87%			3.46%
Return on average assets		1.15%			1.16%
Return on average equity		11.45%			12.19%
Return on average tangible equity		13.25%			14.04%
Basic earnings per share		2.29			2.22
Diluted earnings per share		2.29			2.22
Efficiency ratio		59.77%			58.20%
Operating expense/Average assets		2.41%			2.13%


As of September 30	2026			2025

Total assets	$	2,951,557		$	2,411,951
Total loans receivable		2,294,467			1,814,682
Allowance for credit losses		25,146			19,911
Total deposits		2,508,980			2,073,968
Stockholders' equity		283,361			234,905
Trust assets under management		231,302			211,563

Book value per share	$	25.96		$	25.36
Tangible book value per share	$	22.35		$	22.19
Equity to total assets		9.60%			9.74%
Allowance to total loans receivable		1.10%			1.10%
Nonperforming loans to total loans		0.73%			0.36%
Nonperforming assets to total assets		0.59%			0.31%









NORWOOD FINANCIAL CORP
Consolidated Balance Sheets (unaudited)
(dollars in thousands)
	September 30			June 30			March 31			December 31			September 30
	2026			2026			2026			2025			2025
ASSETS
Cash and due from banks	$	19,857		$	30,902		$	25,480		$	32,118		$	50,348
Interest-bearing deposits with banks		52,667			29,387			75,258			12,318			24,382
Fed funds sold		—			—			1,835			—			—
Cash and cash equivalents		72,524			60,289			102,573			44,436			74,730

Securities available for sale		429,492			438,967			431,204			408,782			403,989
Loans receivable		2,294,467			2,262,813			2,238,657			1,853,422			1,814,682
Less: Allowance for credit losses		25,146			25,632			24,350			19,882			19,911
Net loans receivable		2,269,321			2,237,181			2,214,307			1,833,540			1,794,771
Regulatory stock, at cost		8,460			6,399			7,161			6,623			6,163
Bank owned life insurance		62,738			55,404			55,078			46,089			45,821
Bank premises and equipment, net		25,140			25,262			25,299			22,971			22,292
Foreclosed real estate owned		771			771			771			771			—
Goodwill and other intangibles		39,367			39,528			39,693			29,364			29,375
Other assets		43,744			44,113			41,168			32,266			34,810
TOTAL ASSETS	$	2,951,557		$	2,907,914		$	2,917,254		$	2,424,842		$	2,411,951

LIABILITIES
Deposits:
Non-interest bearing demand	$	487,753		$	500,383		$	470,706		$	419,597		$	424,027
Interest-bearing deposits		2,021,227			2,013,914			2,035,992			1,659,048			1,649,941
Total deposits		2,508,980			2,514,297			2,506,698			2,078,645			2,073,968
Borrowings		118,852			65,513			88,268			74,133			72,071
Other liabilities		40,364			38,464			38,350			29,907			31,007
TOTAL LIABILITIES		2,668,196			2,618,274			2,633,316			2,182,685			2,177,046

STOCKHOLDERS' EQUITY		283,361			289,640			283,938			242,157			234,905

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY	$	2,951,557		$	2,907,914		$	2,917,254		$	2,424,842		$	2,411,951



NORWOOD FINANCIAL CORP
Consolidated Statements of Income (unaudited)
(dollars in thousands, except per share data)
	September 30			June 30			March 31			December 31			September 30
Three months ended	2026			2026			2026			2025			2025
INTEREST INCOME
Loans receivable, including fees	$	36,635		$	35,585		$	33,873		$	28,666		$	28,141
Securities		4,472			4,495			4,110			3,906			3,907
Other		354			377			400			474			144
Total interest income		41,461			40,457			38,383			33,046			32,192

INTEREST EXPENSE
Deposits		12,775			12,899			12,787			11,334			10,730
Borrowings		677			719			1,042			768			1,004
Total interest expense		13,452			13,618			13,829			12,102			11,734
NET INTEREST INCOME		28,009			26,839			24,554			20,944			20,458
PROVISION FOR (RELEASE OF) CREDIT LOSSES		100			1,944			1,459			468			(502)
NET INTEREST INCOME AFTER (RELEASE OF) PROVISION
FOR CREDIT LOSSES		27,909			24,895			23,095			20,476			20,960

OTHER INCOME
Service charges and fees		2,004			1,666			1,755			1,734			1,660
Income from fiduciary activities		265			248			238			228			254
Net realized (losses) gains on sales of securities		—			—			—			—			—
Gains on sales of loans, net		58			54			76			83			130
Gains on sales of foreclosed real estate owned		—			—			—			—			—
Earnings and proceeds on life insurance policies		334			326			314			268			268
Other		259			232			332			198			193
Total other income		2,920			2,526			2,715			2,511			2,505

OTHER EXPENSES
Salaries and  employee benefits		8,274			8,674			8,549			7,155			6,696
Occupancy, furniture and equipment, net		1,521			1,569			1,725			1,390			1,361
Foreclosed real estate		58			31			36			—			1
FDIC insurance assessment		639			428			507			423			368
Other		5,060			5,090			10,173			4,651			4,508
Total other expenses		15,552			15,792			20,990			13,619			12,934

INCOME BEFORE TAX (BENEFIT) EXPENSE		15,277			11,629			4,820			9,368			10,531
INCOME TAX (BENEFIT) EXPENSE		3,514			2,301			1,090			1,926			2,197
NET (LOSS) INCOME	$	11,763		$	9,328		$	3,730		$	7,442		$	8,334

Basic (loss) earnings per share	$	1.08		$	1		$	0.35		$	0.81		$	0.89

Diluted (loss) earnings per share	$	1.08		$	1		$	0.35		$	0.81		$	0.89

Book Value per share	$	25.96		$	27		$	26.07		$	26.06		$	25.36
Tangible Book Value per share		22.35			23			22.43			22.90			22.19

Return on average assets (annualized)		1.60%			0			0.53%			1.21%			1.40%
Return on average equity (annualized)		16.00%			0			5.22%			12.30%			14.58%
Return on average tangible equity (annualized)		18.51%			0			6.04%			14.01%			16.76%

Net interest spread (fte)		3.36%			0			3.04%			2.93%			2.94%
Net interest margin (fte)		4.01%			0			3.68%			3.60%			3.63%

Allowance for credit losses to total loans		1.10%			0			1.09%			1.07%			1.10%
Net charge-offs to average loans (annualized)		0.13%			0			0.09%			0.13%			0.13%
Nonperforming loans to total loans		0.73%			0			0.46%			0.34%			0.36%
Nonperforming assets to total assets		0.59%			0			0.38%			0.29%			0.31%
Nonperforming loans to total assets		0.57%			0			0.35%			0.26%			0.27%
Loan Loss Reserve/NPAs		143.33%			1			219.93%			279.62%			270.50%









NORWOOD FINANCIAL CORP
NON-GAAP ADJUSTMENTS
(dollars in thousands)
Adjusted Return on Average Assets
(Dollars in thousands)
	Nine Months				Three Months				Three Months				Nine Months				Three Months
	Ended				Ended				Ended				Ended				Ended
	September 30,				September 30,				June 30,				September 30,				September 30,
	2026				2026				2026				2025				2025
Net income	$	24,821			$	11,763			$	9,328			$	20,313			$	8,334
Average assets		2,897,099				2,909,599				2,913,153				2,345,909				2,363,759
Return on average assets (annualized)		1.15	%			1.60	%			1.28	%			1.16	%			1.40	%
Net income		24,821				11,763				9,328				20,313				8,334
Merger-related expenses		4,994				—				53				718				568
Boli restructuring fee		225				—				—				—				—
Tax effect		—				—				—				—				—
Adjusted net income (Non-GAAP)		30,040				11,763				9,381				21,031				8,902
Average assets		2,897,099				2,909,599				2,913,153				2,345,909				2,363,759
Adjusted return on average assets (annualized)
(Non-GAAP)		1.39	%			1.60	%			1.29	%			1.20	%			1.49	%







Adjusted Return on Average Tangible Shareholders' Equity
(Dollars in thousands)
	Nine Months				Three Months				Three Months				Nine Months				Three Months
	Ended				Ended				Ended				Ended				Ended
	September 30,				September 30,				June 30,				September 30,				September 30,
	2026				2026				2026				2025				2025
Net income	$	24,821			$	11,763			$	9,328			$	20,313			$	8,334
Average shareholders' equity		289,921				291,624				288,334				222,791				226,733
Average intangible assets		39,466				39,455				39,609				29,394				29,380
Average tangible shareholders' equity		250,455				252,169				248,725				193,397				197,353
Return on average tangible shareholders' equity (annualized)		13.25	%			18.51	%			15.04	%			14.04	%			16.76	%
Net income		24,821				11,763				9,328				20,313				8,334
Merger-related expenses		4,994				—				53				718				568
Boli restructuring fee		225				—				—				—				—
Tax effect		—				—				—				—				—
Adjusted net income (Non-GAAP)		30,040				11,763				9,381				21,031				8,902
Average tangible shareholders' equity		250,455				252,169				248,725				193,397				197,353
Adjusted return on average shareholders' equity (annualized)
(Non-GAAP)		16.04	%			18.51	%			15.13	%			14.54	%			17.90	%





Adjusted Earnings Per Share
(Dollars in thousands)
	Nine Months			Three Months			Three Months			Nine Months			Three Months
	Ended			Ended			Ended			Ended			Ended
	September 30,			September 30,			June 30,			September 30,			September 30,
	2026			2026			2026			2025			2025
GAAP-Based Earnings Per Share, Basic	$	2.29		$	1.08		$	0.86		$	2.22		$	0.89
GAAP-Based Earnings Per Share, Diluted	$	2.29		$	1.08		$	0.86		$	2.22		$	0.89
Net income		24,821			11,763			9,328			20,313			8,334
Merger-related expenses		4,994			—			53			718			568
Boli restructuring fee		225			—			—			—			—
Tax effect		—			—			—			—			—
Adjusted net income (Non-GAAP)		30,040			11,763			9,381			21,031			8,902
Adjusted Earnings per Share, Basic (Non-GAAP)	$	2.67		$	1.08		$	0.86		$	2.28		$	0.94
Adjusted Earnings per Share, Diluted (Non-GAAP)	$	2.67		$	1.08		$	0.86		$	2.28		$	0.94





Pre Provision Net Revenue
(Dollars in thousands)

	Nine Months			Three Months			Three Months			Nine Months			Three Months
	Ended			Ended			Ended			Ended			Ended
	September 30,			September 30,			June 30,			September 30,			September 30,
	2026			2026			2026			2025			2025
Income before tax expense (GAAP)	$	31,726		$	15,277		$	11,629		$	25,651		$	10,531
Provision for credit losses		3,503			100			1,944			1,305			(502)
Pre provision net revenue (PPNR) (Non-GAAP)		35,229			15,377			13,573			26,956			10,029
Merger-related expenses		4,994			—			53			718			568
BOLI restructuring fee		225			—			—			—			—
PPNR adjusted for one time expenses (Non-GAAP)		40,448			15,377			13,626			27,674			10,597





Net Interest Income FTE
(Dollars in thousands)
	Nine Months			Three Months			Three Months			Nine Months			Three Months
	Ended			Ended			Ended			Ended			Ended
	September 30,			September 30,			June 30,			September 30,			September 30,
	2026			2026			2026			2025			2025
Net interest income	$	79,402		$	28,009		$	26,839		$	57,380		$	20,458
Tax effect at 21%		574			199			182			589			192
Net interest income on a fully taxable equivalent basis	$	79,976		$	28,208		$	27,021		$	57,969		$	20,650





Average Tangible Shareholders' Equity
(Dollars in thousands)
	Nine Months			Three Months			Three Months			Nine Months			Three Months
	Ended			Ended			Ended			Ended			Ended
	September 30,			September 30,			June 30,			September 30,			September 30,
	2026			2026			2026			2025			2025
Average shareholders' equity	$	289,921		$	291,624		$	288,334		$	222,791		$	226,733
Average intangible assets		(39,466)			(39,455)			(39,609)			(29,394)			(29,380)



Exhibit 99.2

Q3 2026 Investor Presentation Community Bank Making Every Day Better™ OCTOBER 27, 2026



Forward-looking statements and additional information This presentation contains forward-looking statements within the meaning of the federal securities laws that are made by Norwood Financial Corp (“Norwood”). All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including all statements regarding the intent, belief or current expectations of Norwood and members of its board of directors and senior management teams. Investors and security holders are cautioned that such statements are predictions, and are not guarantees of future performance. Actual events or results may differ materially. Expected financial results or other plans are subject to a number of known and unknown risks, uncertainties and assumptions that are difficult to assess and are subject to change based on factors which are, in many instances, beyond Norwood’s control. Additional risks and uncertainties may include, but are not limited to, the risk that expected cost savings, revenue synergies and other financial benefits from the recently completed merger with PB Bankshares, Inc. (“PB Bankshares”) may not be realized or take longer than expected to realize; the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the integration of PB Bankshares’ business and operations with those of Norwood may take longer than anticipated, may be more costly than anticipated and may have unanticipated adverse results relating to Norwood’s existing businesses; the anticipated cost savings and other synergies of the merger may take longer to be realized or may not be achieved in their entirety, and attrition in key client, partner and other relationships relating to the merger may be greater than expected; the ability to achieve anticipated merger-related operational efficiencies; the ability to enhance revenue through increased market penetration, expanded lending capacity and product offerings; changes in monetary and fiscal policies of the Federal Reserve Board and the U. S. Government, particularly related to changes in interest rates; changes in general economic conditions, especially the effects of current fluctuations in tariff policies, impacts of workforce deportations, the proliferation of legal actions challenging government policies, and substantial reductions in force of government and non-government organization employees, all of which may put pressure on supply chains and exacerbate market volatility; occurrence of natural or man-made disasters or calamities, including health emergencies, the spread of infectious diseases, pandemics or outbreaks of hostilities, or the effects of climate change, and the ability of Norwood and its customers to deal effectively with disruptions caused by the foregoing; legislative or regulatory changes; downturn in demand for loan, deposit and other financial services in our market area; increased competition from other banks and non-bank providers of financial services; technological changes and increased technology-related costs; and changes in accounting principles, or the application of generally accepted accounting principles. Due to these and other possible uncertainties and risks, Norwood can give no assurance that the results contemplated in the forward-looking statements will be realized, and readers are cautioned not to place undue reliance on the forward-looking statements contained in this presentation. Forward-looking statements are based on information currently available to Norwood, and Norwood assumes no obligation and disclaim any intent to update any such forward-looking statements. All forward-looking statements, express or implied, included in the presentation are qualified in their entirety by this cautionary statement. NON-GAAP FINANCIAL MEASURES In addition to results presented in accordance with GAAP, this presentation includes certain non-GAAP financial measures. Norwood believes these non-GAAP financial measures provide additional information that is useful to investors in helping to understand underlying financial performance and condition and trends of Norwood. Non-GAAP financial measures have inherent limitations. Readers should be aware of these limitations and should be cautious with respect to the use of such measures. To compensate for these limitations, non-GAAP measures are used as comparative tools, together with GAAP measures, to assist in the evaluation of operating performance or financial condition. These measures are also calculated using the appropriate GAAP or regulatory components in their entirety and are computed in a manner intended to facilitate consistent period-to-period comparisons. Norwood’s method of calculating these non-GAAP measures may differ from methods used by other companies. These non-GAAP measures should not be considered in isolation or as a substitute or an alternative for those financial measures prepared in accordance with GAAP or in-effect regulatory requirements. Numbers in this presentation may not sum due to rounding. Where non-GAAP financial measures are used, the most directly comparable GAAP or regulatory financial measure, as well as the reconciliation to the most directly comparable GAAP or regulatory financial measure, can be found in this presentation. NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 2



Key messages 1 Reinforcing strengths and growth trajectory of a regional bank with a rich history of serving communities since 1871 2 Creating a high-performance culture that consistently delivers improving results and increasing returns 3 Executing a disciplined strategy to achieve 6%+ growth through market outperformance and strategic M&A 4 Combining improved returns and disciplined capital allocation to create shareholder value NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 3



Growing and fortifying the Norwood franchise Adding branch locations to GROW our geographic footprint Honesdale Milford Stroudsburg Oneonta Scranton Cooperstown New Branches Since 2025 From a strong foundation, we continue to FORTIFY our financial position NWFL NASDAQ Honesdale, PA Headquarters 1871 Founded 315 Employees CAGR 2020 TO Q3 2026 Total assets 8% Net interest income 13% Net income 17% Scan QR Code to See Wayne Bank Corporate Overview NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL 4



Driving consistent execution across the organization to profitably growand create shareholder value Positioning the Bank for our next era of growth Structurally improved our franchise Repositioned our portfolio Strengthened and deepened our leadership bench Expanded and modernized our customer experience Continued to add quality organizations through strategic M&A Updated our brand to reflect our vision for the future: Every Day Better™ Strategically accelerating our growth trajectory Aligning with regions and markets that have durable growth fundamentals Partnering with small businesses to enable and grow with their success Maintaining robust financial position with broad asset exposure and disciplined underwriting culture Using our balance sheet to augment organic growth with strategic M&A Creating a culture that reliably delivers high-return growth NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 5



Executing a disciplined growth strategy to achieve financial targets Leveraging our strengths to create value Organic growth Serving markets and regions that are growing Aim to outgrow underlying markets by partnering with regional small businesses and expanding with them Increasing and broadening sources of noninterest income Strategic M&A Build on successful track record Leverage strong balance sheet Geographic-adjacent expansion Be the acquisition partner of choice Strong execution Maintain diversified portfolio to minimize concentration risk Disciplined underwriting culture to sustain high credit quality Financial discipline to manage and optimize balance sheet exposures Value creation Generate 6%+ asset growth Drive double-digit returns Targeting +$5B in assets (+67% from current level) Loans to deposits greater than 90% Committed to a healthy and growing dividend Following a defined path to shareholder value creation NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL 2026 INVESTOR PRESENTATION 6



Disciplined, opportunistic growth strategy ~ 12% CAGR $0.2 $0.4 $0.5 $0.5 $0.5 $0.5 $0.7 $0.7 $0.7 $0.8 $0.7 $1.1 $1.2 $1.2 $1.4 $2.1 $2.0 $2.2 $2.3 $2.4 $3.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 NWFL Assets ($B) Acquired Assets ($B) A history of organic GROWTH and successful ACQUISITIONS NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL 7



Clear focus on regions with healthy small businesses environment Community bank targeting opportunity-rich regions Small cities in rural and suburban settings Growing metro areas that have high credit quality Northeast PA Central PA Southern Tier NY Finger Lakes NY Stable growth Mixes towards higher growth Stable growth Stable growth Key Industries: • Agribusiness / Food & Beverage Manufacturing • Plastics Manufacturing • Advanced Manufacturing Key Industries: • Advanced Manufacturing • Agriculture and Food Manufacturing • Healthcare Key Industries: • Homeland and Cybersecurity • Cleantech and Renewable Energy • Distribution • Agribusiness Key Industries: • Optics, Photonics and Imaging • Biotech and Life Sciences • Agribusiness • Software and Digital Media Serving communities that best fit our competitive differentiators NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 8



PLACEHOLDER: Additional Information on Regions Northeast PA Central PA Catskills Region NY Finger Lakes NY Population 1,035,8921 2,574,6221 356,3092 1,215,0003 Median Household Income $70,5031 $76,2891 78,9722 $73,8003 Unemployed 4.6%9 3.19%1 5.5%2 4.1%8 • Northeastern PA Ranks 6th in the Nation for Economic Development4 • #18 Workforce-Ready Top U.S. Metros (Scranton/Wilkes-Barre MSA) in 20255 • 5,285 Manufacturing Establishments in 20256 • Harrisburg Named 3rd Best City on the Rise in 20257 • 9,000+ Agricultural Establishments6 • 14% of the working population run their own businesses2 • Tourism to region generating approximately 17,995 jobs in the Catskills in 2024—15.4% of all jobs within the region10 • Gross Regional Product (GRP) increased greater than 7.6% annually between 2019 and 20243 1 https://dced.pa.gov/pennsylvania/?reportname=demographics . 2https://www.point2homes.com/US/Neighborhood/NY/Catskills-Region-Demographics.html#income 3https://regionalcouncils.ny.gov/sites/default/files/2025-11/Finger%20Lakes%20REDC%20Annual%20Report%20and%20ACHIEVE%20Submission%202025_0.pdf. 4https://pennsnortheast.com/news/article/northeastern-pa-ranks-6th-in-the-nation-for-economic-development. 5https://www.commercialsearch.com/blog/best-metros-for-industrial-workforce-in-us/. 6https://lightcast.io/products/data/overview. 7https://www.parealtors.org/blog/harrisburg-named-third-best-city-on-the-rise/. 8https://dol.ny.gov/system/files/documents/2026/09/finger-lakes.pdf. 9 https://fred.stlouisfed.org/series/SCRA542UR 10 https://www.iloveny.com/thebeat/post/new-data-from-tourism-economics-reflects-tourism-thriving-in-the-sullivan-catskills/ * All data based on website information as of October 2026 Community bank targeting opportunity-rich regions NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 9



Our distinctives give us competitive advantages We have COMPETITIVE DIFFERENTIATORS that position us to win in our markets Strong local ties provide consistent and sound growth opportunities Granular loan and deposit portfolio tied to our community Attractive financial profile enhanced by recent repositioning Disciplined underwriting culture Experienced and aligned leadership focused on delivering shareholder return Well-positioned to take advantage of market dislocation and M&A opportunities Enhancing our ability to deliver profitable growth NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL 10



Management team building on legacy to create shareholder value James O. Donnelly Janak Amin John McCaffery Vincent G. O’Bell John F. Carmody President and Chief Executive Officer Executive Vice President and Chief Operating Officer Executive Vice President and Chief Financial Officer Executive Vice President and Chief Lending Officer Executive Vice President and Chief Credit Officer Steven Daniels Ryan J. French Tracie A. Young Larry Witt Douglas Byers Executive Vice President and Chief Consumer Banking Officer Executive Vice President and Chief Human Resources Officer Executive Vice President and Chief Risk Officer Executive Vice President and Chief Information Officer Executive Vice President and Market Executive Joseph Adams Joseph Mahon Mike Rollison Diane M. Wylam Kristen Lancia Senior Vice President and Director of Wealth Management and Investor Services Executive Vice President and Market Executive Senior Vice President and Commercial Loan Team Leader Senior Vice President and Senior Trust Officer Vice President and Marketing Manager Combined management team and Board of Directors represent 8.1% ownership* *Per 2025 proxy NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 11



Executing a clear strategy to accelerate asset growth Focus on small business lending, granular relationships, and diverse industry exposure 1 Organic growth as we serve and win with the small businesses in our communities 2 Disciplined underwriting process to ensure highest credit quality 3 Maintain loans-to-deposits near 90% target +9% CAGR +9% CAGR +9% CAGR 1411 2294 1535 2509 1852 2952 Total Loans ($M) Total Deposits ($M) Total Assets ($M) 2020 Q3 2026 Achieving balanced growth as we execute our growth initiatives NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 12



Upgrading the customer experience to support growth initiatives Growing deposits as we enable customer engagement Modernizing our branches to provide the communities we serve with innovative banking technologies and tools Forty Fort grand opening and Presence Bank acquisition added five new branches in 2025 Expanding access to modern technologies Promotes customer engagement to support home ownership, small business developments, and commercial development Digital banking services Mobile banking for 24/7 access to advanced features Enhanced online account opening platform Easier, online mortgage application Creating stable foundation for long-term income NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 13



Growing noninterest income to enhance earnings quality Provides diverse, stable income stream Growing noninterest income more quickly than interest income Improve debit card utilization Building out mortgage franchise Upscale wealth management / trust department Leverage strength of franchise to drive growth across the organization Noninterst income ($K) +6% CAGR 7,780 10,672 2020 Q3 2026 LTM Fees Fiduciary Loans Life Insurance Other Delivering Results: Improving Debit Card Utilization Deposit growth provides opportunity to extend our service offerings Strategic initiative to increase retail business and grow debit card fees We have designed our policies to place more debit cards in customers’ hands Debit card fees ($K) +9% CAGR 1,656 2,680 2020 Q3 2026 LTM NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 14



Capital allocation framework to extend shareholder value creation Investing in growth Funding organic growth Above well-capitalized risk-based ratios Total capital: 13.396% Tier 1: 12.29% CET1: 12.29% Disciplined underwriting culture Expanding through strategic M&A Geographic adjacent Targeting banks with strong execution, aligned cultures, and disciplined financial management Returning cash to shareholders Supporting and growing the dividend 34 years of increasing dividend Attractive dividend yield 3.7% Maintain healthy and growing dividend Repurchasing shares opportunistically Repurchased $4.2M over last 3 years Adopted program in August 2026 to repurchase up to ~5% of outstanding shares Employing balanced approach to maximize shareholder value NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 15



Building on history of generating total shareholder return Proactively repositioned investment portfolio to perform well in current and future interest rate environment Strong track record of growing assets organically and through strategic M&A Financial discipline to grow income and improve returns Attractive dividend yield as we return cash to shareholders Total Shareholder Return As of 9/30/2026 63.1% 27.9% 35.9% 13.4% 5 Yer TSR 1 Year TSR NWFL KBW Nasdaq Regional Banking Index Executing strategy to extend TSR outperformance into the future NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 16



M&A CASE STUDY Presence Bank as an example of our successful M&A track record ANNOUNCED Jul 7, 2025 COMPLETED Jan 5, 2026 Presence Bank: a growing and respected bank located in attractive Pennsylvania markets Strategic fit Shared values, culture, and commitment to high quality customer service Geographic-adjacent expansion into growing metro areas Well run bank with high credit quality and strong execution Combination makes both banks stronger Expands NWFL’s geographic footprint into attractive Central PA markets Enhances PB’s customer services and solutions offerings NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 17



SUMMARY Leveraging our distinctives to create shareholder value 1 2 3 4 Reinforcing strengths and growth trajectory of a regional bank with a rich history of serving communities since 1871 Creating a high-performance culture that consistently delivers improving results and increasing returns Executing a disciplined strategy to achieve 6%+ growth through market outperformance and strategic M&A Combining improved returns and disciplined capital allocation to create shareholder valuer NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 18



APPENDIX Q3 2026 INVESTOR PRESENTATION 19



QUARTERLY RESULTS Q3 2026 INVESTOR PRESENTATION 20



Q3 2026 summary Selected financial highlights (all comps Y/Y) $28.0M Net Interest Income +37% 3.36% Net Interest Spread (fte) 1 +42 bps 4.01% Net Interest Margin (fte) 1 +38 bps $15.4M Adjusted Pre Provision Net Revenue1 +45% $11.8M Adjusted Net Income1 +34% $1.08 Adjusted Diluted EPS1 +15% 1.60% Adjusted Return on Average Assets1 +13 bps 18.51% Adjusted Return on Tangible Equity1 +85 bps 1 See appendix for Non-GAAP reconciliation Key messages 1 Another strong performance in Q3, achieving record net interest income and record net income, as the team executes well and extends the momentum we are building towards a brighter future 2 Grew assets to $3.0B and maintained strong financial position while navigating customer bankruptcy; rebooked debt with past due interest benefitting income and margin 3 Poised for growth post-integration, as combined organization is even better positioned serve communities 4 Continuing to build momentum in 2026, through strategic priorities to create a stronger organization with ingrained high-performance culture NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 21



Making progress on our 2026 strategic priorities Focused on actions that will create value and build momentum Successfully complete Presence Bank integration • Completed key integration activity, including core system conversion and brand convergence • Ongoing dialogue to share best practices as we continue to standardize on operations and customer engagement Increase operating efficiency and elevate the customer experience through AI • Implemented PB commercial system to drive efficiency, manage risk, and empower employees to do more • Utilize AI embedded in PB processes across the organization as part of integration • Creating 3-year plan to assess AI implementation and pursue highest value opportunities Strengthen our talent pool and deepen our leadership bench • Invest in our people to empower them to serve our communities • Cascade strategic priorities throughout organization • Stephanie Abraham joined as SVP and Commercial Team Leader • Promoted Kyle Liner and John Veleber to Commercial Team Leader • Expanded role of Joseph J. Mahon, EVP and Market Executive, to include Greater Scranton Increase shareholder value • Executing a clear growth strategy, including organic growth and strategic M&A, along with strong execution to achieve financial targets and deliver increasing shareholder value • Delivered strong Q3 results on strong financial position and performance of our entire team • Grew asset base through increasing deposits, investment decisions, and strategic M&A • Enhance shareholder returns through a reliable and growing dividend NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 22



Improving financial performance and positioning for continued growth Adjusted earnings per share 1 $0.94 $0.69 $1.08 Q3 2025 Q2 2026 Q3 2026 Tangible book value per share $22.19 $22.96 $22.35 Q3 2025 Q2 2026 Q3 2026 EPS improved on record net income due to record net interest income and growth in other income, partially offset by higher expenses due to the acquisition TBV per share decreased from Q2 on decline in Other Comprehensive Income as rise in interest rates depressed market value of Available-for-Sale portfolio Repositioned portfolio and Presence Bank acquisition continued to further strengthen our financial position and provides us with a larger organization to scale as we serve our communities 1 See appendix for Non-GAAP reconciliation NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 23



Loan portfolio overview Small business lending, granular relationships and limited industry concentration Loan portfolio by category 1-4 Family 14% C&I 11% Const & Land 5% Consumer 1% CRE 49% Home Eq 4% Indirect 16% Total $2.3B $99K Average Loan Size $333K Average Commercial Loan Size 11% Adjustable, 44% Floating, and 45% Fixed Rate Office Exposure: 6 loans for ~$2.8M CRE Ratio: 230% (as of Q3 2026) CRE loans by industry 1-4 Family Rental 11% Investor Real Estate 43% Multi Family 7% Owner Occupied 33% Agricultural 6% Total $1.1B Historical yields 6.18% 6.08% 6.13% 6.22% 6.22% 6.28% 6.34% 6.43% 5.35% 5.54% 5.60% 5.69% 5.66% 5.73% 5.85% 5.92% 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Yield on Loans Yield on Interest Earnings Assets NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 24



Strong historical credit quality Credit quality ratios 2022 2023 2024 2025 Q3 2026 Non-performing Loans / Loans 0.08% 0.48% 0.46% 0.34% 0.73% Net Charge Offs / Loans 0.02% 0.39% 0.10% 0.03% 0.13% ACL / Loans 1.15% 1.18% 1.16% 1.07% 1.10% Reserves / NPAs 1,165% 246% 252% 280% 143% NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 25



Deposit portfolio overview Attractive retail franchise bolstered by commercial and municipal relationships Deposit portfolio by category NIB Demand 19% IB Demand 15% MMDA 16% Savings 9% Time Deposts 41% Total $2.5B $51K Average Account Size $524M in Municipal Deposits Historical funding costs 6.18% 6.08% 6.13% 6.22% 6.22% 6.28% 6.34% 6.43% 5.35% 5.54% 5.60% 5.69% 5.66% 5.73% 5.85% 5.92% 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Cost of Deposits Cost of Funds Deposit composition over time 2.46% 2.39% 2.30% 2.21% 2.21% 2.21% 2.11% 2.07% 2.30% 2.26% 2.17% 2.11% 2.14% 2.12% 2.06% 2.02% 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Time Deposits Savings MMDA IB Demand NIB Demand NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 26



Managing Exposure to Dynamic Interest Rate Environment Net Interest Income Sensitivity 1.5% 0.5% 0.9% 1.5% 0.1% -0.8% -2.1% -1.1% -1.7% -2.1% -0.4% 0.2% -100 +100 Loan portfolio exposure to interest rates EXPOSURE TO RATE MOVES 11% Adjustable 44% Floating 45% Fixed Rate 48% reprice within next 12 months $691M of CDs that are maturing within 12 months at average rate of 3.27% $116 million non-maturity tied to indexes Continued prudent management of capital, liquidity, and interest rate exposure NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 27



Strength. Security. Stability. 150+ years in business UNIFIED BRAND: Consolidated Wayne Bank, the Bank of Cooperstown, Bank of the Finger Lakes, and Presence Bank under single Wayne Bank brand Committed to the same community banking mission and core values instated upon our founding in 1871 Rewarding shareholders Focused on achieving above-peer performance targets bolstered by our competitive strength in markets of operation Repositioned the investment portfolio to improve yields in current and future interest rate environment Track record of 34 consecutive years of increasing cash dividends Growth & expansion Consistent record of organic growth bolstered by four successful acquisitions between 2011 and 2026, including Presence Bank Focused on expanding noninterest and fee income through product offerings such as wealth and trust management, mortgage, and treasury management services A community pillar MISSION STATEMENT: “To help our customers and communities build strong financial futures, so that every day, every year, every generation is better than the last.” The Bank and its employees are key contributors to several local charities Focused on small business and local relationships NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 28



NON-GAAP RECONCILIATIONS Q3 2026 INVESTOR PRESENTATION 29



Non-GAAP financial measures Net Interest Income FTE and Average Tangible Equity Net Interest Income FTE (Dollars in thousands) Nine Months Three Months Three Months Nine Months Three Months Ended Ended Ended Ended Ended September 30, September 30, June 30, September 30, September 30, 2026 2026 2026 2025 2025 Net interest income $ 79,402 $ 28,009 $ 26,839 $ 57,380 $ 20,458 Tax effect at 21% 574 199 182 589 192 Net interest income on a fully taxable equivalent basis $ 79,976 $ 28,208 $ 27,021 $ 57,969 $ 20,650 Average Tangible Shareholders' Equity (Dollars in thousands) Nine Months Three Months Three Months Nine Months Three Months Ended Ended Ended Ended Ended September 30, September 30, June 30, September 30, September 30, 2026 2026 2026 2025 2025 Average shareholders' equity $ 289,921 $ 291,624 $ 288,334 $ 222,791 $ 226,733 Average intangible assets (39,466) (39,455) (39,609) (29,394) (29,380) Average tangible shareholders' equity $ 250,455 $ 252,169 $ 248,725 $ 193,397 $ 197,353 NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 30



Non-GAAP financial measures Pre Provision Net Revenue Pre Provision Net Revenue (Dollars in thousands) Nine Months Three Months Three Months Nine Months Three Months Ended Ended Ended Ended Ended September 30, September 30, June 30, September 30, September 30, 2026 2026 2026 2025 2025 Income before tax expense (GAAP) $ 31,726 $ 15,277 $ 11,629 $ 25,651 $ 10,531 Provision for credit losses 3,503 100 1,944 1,305 (502) Pre provision net revenue (PPNR) (Non-GAAP) 35,229 15,377 13,573 26,956 10,029 Merger-related expenses 4,994 0 53 718 568 BOLI restructuring fee 225 0 0 0 0 PPNR adjusted for one time expenses (Non-GAAP) 40,448 15,377 13,626 27,674 10,597 NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 31



Non-GAAP financial measures Adjusted Return on Average Assets Adjusted Return on Average Assets (Dollars in thousands) Nine Months Three Months Three Months Nine Months Three Months Ended Ended Ended Ended Ended September 30, September 30, June 30, September 30, September 30, 2026 2026 2026 2025 2025 Net income $ 24,821 $ 11,763 $ 9,328 $ 20,313 $ 8,334 Average assets 2,897,099 2,909,599 2,913,153 2,345,909 2,363,759 Return on average assets (annualized) 1.15 % 1.60 % 1.28 % 1.16 % 1.40 % Net income 24,821 11,763 9,328 20,313 8,334 Merger-related expenses 4,994 0 53 718 568 Boli restructuring fee 225 0 0 0 0 Tax effect at 21% (1,096) 0 (11) (151) (119) Adjusted Net Income (Non-GAAP) 28,944 11,763 9,370 20,880 8,783 Average assets 2,897,099 2,909,599 2,913,153 2,345,909 2,363,759 Adjusted return on average assets (annualized) (Non-GAAP) 1.34 % 1.60 % 1.29 % 1.19 % 1.47 % NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 32



Non-GAAP financial measures Adjusted Return on Average Tangible Shareholders’ Equity and Adjusted Earnings Per Share Adjusted Return on Average Tangible Shareholders' Equity (Dollars in thousands) Nine Months Three Months Three Months Nine Months Three Months Ended Ended Ended Ended Ended September 30, September 30, June 30, September 30, September 30, 2026 2026 2026 2025 2025 Net income $ 24,821 $ 11,763 $ 9,328 $ 20,313 $ 8,334 Average shareholders' equity 289,921 291,624 288,334 222,791 226,733 Average intangible assets 39,466 39,455 39,609 29,394 29,380 Average tangible shareholders' equity 250,455 252,169 248,725 193,397 197,353 Return on average tangible shareholders' equity (annualized) 13.25 % 18.51 % 15.04 % 14.04 % 16.76 % Net income 24,821 11,763 9,328 20,313 8,334 Merger-related expenses 4,994 0 53 718 568 Boli restructuring fee 225 0 0 0 0 Tax effect at 21% (1,096) 0 (11) (151) (119) Adjusted Net Income (Non-GAAP) 28,944 11,763 9,370 20,880 8,783 Average tangible shareholders' equity 250,455 252,169 248,725 193,397 197,353 Adjusted return on average shareholders' equity (annualized) (Non-GAAP) 15.45 % 18.51 % 15.11 % 14.43 % 17.66 % Adjusted Earnings Per Share (Dollars in thousands) Nine Months Three Months Three Months Nine Months Three Months Ended Ended Ended Ended Ended September 30, September 30, June 30, September 30, September 30, 2026 2026 2026 2025 2025 GAAP-Based Earnings Per Share, Basic $ 2.29 $ 1.08 $ 0.86 $ 2.22 $ 0.89 GAAP-Based Earnings Per Share, Diluted $ 2.29 $ 1.08 $ 0.86 $ 2.22 $ 0.89 Net Income 24,821 11,763 9,328 20,313 8,334 Merger-related expenses 4,994 0 53 718 568 Boli restructuring fee 225 0 0 0 0 Tax effect at 21% (1,096) 0 (11) (151) (119) Adjusted Net Income (Non-GAAP) 28,944 11,763 9,370 20,880 8,783 Adjusted Earnings per Share, Basic (Non-GAAP) $ 2.68 $ 1.08 $ 0.86 $ 2.28 $ 0.94 Adjusted Earnings per Share, Diluted (Non-GAAP) $ 2.67 $ 1.08 $ 0.86 $ 2.28 $ 0.94 NORWOOD FINANCIAL CORP NASDAQ GLOBAL: NWFL Q3 2026 INVESTOR PRESENTATION 33



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