{"id":517035,"date":"2021-07-23T08:18:02","date_gmt":"2021-07-23T12:18:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/norwood-financial-corp-announces-second-quarter-earnings\/"},"modified":"2021-07-23T08:18:02","modified_gmt":"2021-07-23T12:18:02","slug":"norwood-financial-corp-announces-second-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/norwood-financial-corp-announces-second-quarter-earnings\/","title":{"rendered":"Norwood Financial Corp Announces Second Quarter Earnings"},"content":{"rendered":"
\n

HONESDALE, Pa., July 23, 2021 (GLOBE NEWSWIRE) — Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, announced record earnings for the three months ended June 30, 2021 of $5,755,000, which was $4,267,000, or 287%, higher than the similar period of last year. The increase reflects the benefits derived from the Company\u2019s acquisition of UpState New York Bancorp, Inc. (\u201cUpState\u201d), which closed on July 7, 2020, and fee income related to Paycheck Protection Program (\u201cPPP\u201d) loans. Earnings per share (fully diluted) were $0.70 in the 2021 period compared to $0.24 in the same period of last year. The annualized return on average assets for the three months ended June 30, 2021 was 1.15%, while the annualized return on average tangible equity was 13.63%. Net income for the six months ended June 30, 2021 totaled $11,296,000, which is $6,729,000 higher than the same six-month period of 2020 due to the benefits derived from the acquisition of UpState and PPP fees earned. Earnings per share (fully diluted) for the six months ended June 30, 2021 were $1.38 compared to $0.73 for the six months ended June 30, 2021. The annualized return on average assets for the six months ended June 30, 2021 was 1.16%. The annualized return on average tangible equity for the six months ended June 30, 2021 was 13.53%.<\/p>\n

Total assets as of June 30, 2021 were $2.026 billion, with loans receivable of $1.387 billion, deposits of $1.689 billion and stockholders\u2019 equity of $200.5 million.\u00a0\u00a0 Loans receivable increased $398.0 million since June 30, 2020, while total deposits increased $602.7 million. The increases reflect the balances acquired from UpState and the impact from economic stimulus, including loans originated through the PPP. During the six months ended June 30, 2021, the Company originated 755 new PPP loans totaling $56.8 million, and had a total of $77.6 million of PPP loans forgiven.\u00a0\u00a0 As of June 30, 2021, the total of all PPP loans outstanding was $74.2 million.<\/p>\n

For the three months ended June 30, 2021, net interest income, on a fully-taxable equivalent basis (fte), totaled $16,263,000, an increase of $6,175,000 compared to the same period in 2020. A $424.5 million increase in average loans outstanding contributed to the increased income. Net interest margin (fte) for the three months ended June 30, 2021 was 3.44%, compared to 3.25% in the same period of 2020. The tax-equivalent yield on interest-earning assets decreased 14 basis points to 3.75% during the three months ended June 30, 2021, compared to the same prior year period, while the cost of interest-bearing liabilities decreased 43 basis points to 0.43%. Net interest income (fte) for the six months ended June 30, 2021 totaled $32,244,000, which was $12,253,000 higher than the same period in 2020, due to the higher volume of interest-earning assets. The net interest margin (fte) was 3.51% in the six months ended June 30, 2021, as compared to 3.36% during the six months ended June 30, 2020. The increase in the net interest margin (fte) reflects the growth in average loans outstanding resulting from the acquisition of UpState.<\/p>\n

Other income for the three months ended June 30, 2021, totaled $2,187,000, compared to $1,392,000 for the same period in 2020. The increase is due primarily to a $695,000 increase in service charges and fees related to the acquisition of UpState.\u00a0\u00a0 For the six months ended June 30, 2021, other income totaled $4,176,000, compared to $3,047,000 in the 2020 period.\u00a0\u00a0 Service charges on deposits and fees on loans increased $881,000, net, while earnings and proceeds on bank-owned life insurance policies also increased $148,000.<\/p>\n

Other expenses totaled $9,492,000 for the three months ended June 30, 2021, an increase of $1,400,000, compared to the $8,092,000 for the same period of 2020.\u00a0\u00a0 For the six months ended June 30, 2021, other expenses totaled $18,944,000, compared to $15,152,000 for the same period in 2020. The increases reflect the costs of operations acquired from UpState, including four new Community Offices.<\/p>\n

Mr. Critelli commented, \u201cOur results for the first half of 2021 reflect the positive impact of, and earnings accretion resulting from, our acquisition of UpState, as well as the continued impact of economic stimulus on our earnings and balance sheet. We look forward to continuing to serve our expanded base of stockholders and customers.\u201d<\/p>\n

Norwood Financial Corp is the parent company of Wayne Bank, which operates from fourteen offices throughout Northeastern Pennsylvania and sixteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. The Company\u2019s stock trades on the Nasdaq Global Market under the symbol \u201cNWFL\u201d.<\/p>\n

\n Forward-Looking Statements<\/strong>
\n
The Private Securities Litigation Reform Act of 1995 contains safe harbor provisions regarding forward-looking statements. When used in this discussion, the words \u201cbelieves\u201d, \u201canticipates\u201d, \u201ccontemplates\u201d, \u201cexpects\u201d, and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected. Those risks and uncertainties include changes in federal and state laws, changes in interest rates, the risks and uncertainty posed by, and the effect and impact of, the COVID-19 pandemic on the economy and the Company\u2019s results of operation and financial condition, the ability to control costs and expenses, 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.<\/p>\n

\n Non-GAAP Financial Measures<\/strong>
\n
This release references tax-equivalent net interest income, which is a non-GAAP (Generally Accepted Accounting Principles) financial measure. Tax-equivalent net interest income was derived from GAAP interest income and net interest income using an assumed tax rate of 21%. We believe the presentation of net interest income on a tax-equivalent basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice.<\/p>\n

The following reconciles net interest income to net interest income on a fully taxable-equivalent basis:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three months ended
<\/u>
\n June 30<\/u>\n <\/td>\n		\n Six months ended<\/u>
\n
\n June 30<\/u>\n <\/td>\n<\/tr>\n
(dollars in thousands)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/u>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Interest Income<\/td>\n\u00a0<\/td>\n$<\/td>\n16,053<\/td>\n\u00a0<\/td>\n$<\/td>\n9,867<\/td>\n\u00a0<\/td>\n$<\/td>\n31,829<\/td>\n\u00a0<\/td>\n$<\/td>\n19,532<\/td>\n\u00a0<\/td>\n<\/tr>\n
Taxable equivalent basis adjustment using 21% marginal tax rate<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 210<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 221<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 415<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 459<\/u>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest income on a fully taxable equivalent basis<\/td>\n\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 1<\/u>
\n 6,263<\/u>\n <\/td>\n		\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 10,088<\/u>\n <\/td>\n\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 32,244<\/u>\n <\/td>\n\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 1<\/u>
\n 9,<\/u>
\n 991<\/u>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
This release also references average tangible equity, which is also a non-GAAP financial measure. Average tangible equity is calculated by deducting average goodwill and other intangible assets from average stockholders\u2019 equity. The Company believes that disclosure of tangible equity ratios enhances investor understanding of our financial position and improves the comparability of our financial data.<\/p>\n

The following reconciles average equity to average tangible equity:<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n Three months ended<\/u>
\n
\n June 30<\/u>\n <\/td>\n		\n Six months ended<\/u>
\n
\n June 30<\/u>\n <\/td>\n<\/tr>\n
(dollars in thousands)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/u>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average equity<\/td>\n\u00a0<\/td>\n$<\/td>\n199,777<\/td>\n\u00a0<\/td>\n$<\/td>\n143,472<\/td>\n\u00a0<\/td>\n$<\/td>\n198,689<\/td>\n\u00a0<\/td>\n$<\/td>\n142,217<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average goodwill and other intangibles<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (29,762<\/u>
\n \n <\/td>\n		\n )<\/u>
\n \n <\/td>\n		\u00a0<\/td>\n\n (11,530<\/u>
\n \n <\/td>\n		\n )<\/u>
\n \n <\/td>\n		\u00a0<\/td>\n\n (29,780<\/u>\n <\/td>\n\n )<\/u>\n <\/td>\n\u00a0<\/td>\n\n (11,541<\/u>\n <\/td>\n\n )<\/u>\n <\/td>\n<\/tr>\n
Average tangible equity<\/td>\n\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 1<\/u>
\n 70,015<\/u>\n <\/td>\n		\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 1<\/u>
\n 31,942<\/u>\n <\/td>\n		\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 1<\/u>
\n 68,909<\/u>\n <\/td>\n		\u00a0<\/td>\n\n $<\/u>\n <\/td>\n\n 1<\/u>
\n 30,676<\/u>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n
Contact:\u00a0<\/td>\nWilliam S. Lance<\/td>\n<\/tr>\n
\u00a0<\/td>\nExecutive Vice President &<\/td>\n<\/tr>\n
\u00a0<\/td>\nChief Financial Officer<\/td>\n<\/tr>\n
\u00a0<\/td>\nNORWOOD FINANCIAL CORP<\/td>\n<\/tr>\n
\u00a0<\/td>\n570-253-8505<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n www.waynebank.com<\/u>
\n <\/a>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n NORWOOD FINANCIAL CORP.<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Consolidated Balance Sheets\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (dollars in thousands, except share and per share data)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n \u00a0(unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n June 30<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and due from banks<\/td>\n\n \u00a0$<\/strong>\n <\/td>\n\n 34,831<\/strong>\n <\/td>\n$<\/td>\n15,387<\/td>\n<\/tr>\n
Interest-bearing deposits with banks<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 170,342<\/strong>\n <\/td>\n\u00a0<\/td>\n67,989<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 205,173<\/strong>\n <\/td>\n\u00a0<\/td>\n83,376<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Securities available for sale<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 333,636<\/strong>\n <\/td>\n\u00a0<\/td>\n196,735<\/td>\n<\/tr>\n
Loans receivable<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,386,654<\/strong>\n <\/td>\n\u00a0<\/td>\n988,679<\/td>\n<\/tr>\n
Less: Allowance for loan losses<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 15,340<\/strong>\n <\/td>\n\u00a0<\/td>\n10,312<\/td>\n<\/tr>\n
Net loans receivable<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,371,314<\/strong>\n <\/td>\n\u00a0<\/td>\n978,367<\/td>\n<\/tr>\n
Regulatory stock, at cost<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 4,084<\/strong>\n <\/td>\n\u00a0<\/td>\n3,677<\/td>\n<\/tr>\n
Bank premises and equipment, net<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 17,298<\/strong>\n <\/td>\n\u00a0<\/td>\n14,040<\/td>\n<\/tr>\n
Bank owned life insurance<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 39,665<\/strong>\n <\/td>\n\u00a0<\/td>\n39,183<\/td>\n<\/tr>\n
Foreclosed real estate owned<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 844<\/strong>\n <\/td>\n\u00a0<\/td>\n965<\/td>\n<\/tr>\n
Accrued interest receivable<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 6,190<\/strong>\n <\/td>\n\u00a0<\/td>\n4,383<\/td>\n<\/tr>\n
Goodwill<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 29,266<\/strong>\n <\/td>\n\u00a0<\/td>\n11,331<\/td>\n<\/tr>\n
Other intangible assets<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 461<\/strong>\n <\/td>\n\u00a0<\/td>\n191<\/td>\n<\/tr>\n
Other assets<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 17,633<\/strong>\n <\/td>\n\u00a0<\/td>\n22,293<\/td>\n<\/tr>\n
TOTAL ASSETS<\/td>\n\n \u00a0$<\/strong>\n <\/td>\n\n 2,025,564<\/strong>\n <\/td>\n$<\/td>\n1,354,541<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits:<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-interest bearing demand<\/td>\n\n \u00a0$<\/strong>\n <\/td>\n\n 435,824<\/strong>\n <\/td>\n$<\/td>\n284,754<\/td>\n<\/tr>\n
Interest-bearing<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,253,117<\/strong>\n <\/td>\n\u00a0<\/td>\n801,484<\/td>\n<\/tr>\n
Total deposits<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,688,941<\/strong>\n <\/td>\n\u00a0<\/td>\n1,086,238<\/td>\n<\/tr>\n
Short-term borrowings<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 83,599<\/strong>\n <\/td>\n\u00a0<\/td>\n55,204<\/td>\n<\/tr>\n
Other borrowings<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 36,259<\/strong>\n <\/td>\n\u00a0<\/td>\n50,823<\/td>\n<\/tr>\n
Accrued interest payable<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,462<\/strong>\n <\/td>\n\u00a0<\/td>\n2,826<\/td>\n<\/tr>\n
Other liabilities<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 14,804<\/strong>\n <\/td>\n\u00a0<\/td>\n16,786<\/td>\n<\/tr>\n
TOTAL LIABILITIES<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,825,065<\/strong>\n <\/td>\n\u00a0<\/td>\n1,211,877<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
STOCKHOLDERS’ EQUITY<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred Stock, no par value per share, authorized 5,000,000 shares<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/strong>\n <\/td>\n\u00a0<\/td>\n–<\/td>\n<\/tr>\n
Common Stock, $.10 par value per share,<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
authorized: 20,000,000 shares,<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
issued: 2021: 8,243,556 shares, 2020: 6,342,568 shares<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 825<\/strong>\n <\/td>\n\u00a0<\/td>\n634<\/td>\n<\/tr>\n
Surplus<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 95,951<\/strong>\n <\/td>\n\u00a0<\/td>\n49,778<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 100,818<\/strong>\n <\/td>\n\u00a0<\/td>\n87,939<\/td>\n<\/tr>\n
Treasury stock, at cost: 2021: 21,568 shares, 2020: 13,778 shares<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n (656)<\/strong>\n <\/td>\n\u00a0<\/td>\n(469)<\/td>\n<\/tr>\n
Accumulated other comprehensive income<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 3,561<\/strong>\n <\/td>\n\u00a0<\/td>\n4,782<\/td>\n<\/tr>\n
TOTAL STOCKHOLDERS’ EQUITY<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 200,499<\/strong>\n <\/td>\n\u00a0<\/td>\n142,664<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
TOTAL LIABILITIES AND<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
STOCKHOLDERS’ EQUITY<\/td>\n\n \u00a0$<\/strong>\n <\/td>\n\n 2,025,564<\/strong>\n <\/td>\n$<\/td>\n1,354,541<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n NORWOOD FINANCIAL CORP.<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Consolidated Statements of Income\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (dollars in thousands, except per share data)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n \u00a0 (unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nThree Months Ended June 30,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSix Months Ended June 30,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INTEREST INCOME<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans receivable, including fees<\/td>\n\n $<\/strong>\n <\/td>\n\n 16,102<\/strong>\n <\/td>\n$<\/td>\n10,767<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 32,248<\/strong>\n <\/td>\n$<\/td>\n21,450<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Securities<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,356<\/strong>\n <\/td>\n\u00a0<\/td>\n1,063<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,468<\/strong>\n <\/td>\n\u00a0<\/td>\n2,242<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 59<\/strong>\n <\/td>\n\u00a0<\/td>\n19<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 102<\/strong>\n <\/td>\n\u00a0<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Interest income<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 17,517<\/strong>\n <\/td>\n\u00a0<\/td>\n11,849<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 34,818<\/strong>\n <\/td>\n\u00a0<\/td>\n23,717<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INTEREST EXPENSE<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,205<\/strong>\n <\/td>\n\u00a0<\/td>\n1,630<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,459<\/strong>\n <\/td>\n\u00a0<\/td>\n3,420<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Short-term borrowings<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 73<\/strong>\n <\/td>\n\u00a0<\/td>\n73<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 142<\/strong>\n <\/td>\n\u00a0<\/td>\n184<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other borrowings<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 186<\/strong>\n <\/td>\n\u00a0<\/td>\n279<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 388<\/strong>\n <\/td>\n\u00a0<\/td>\n581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Interest expense<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,464<\/strong>\n <\/td>\n\u00a0<\/td>\n1,982<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,989<\/strong>\n <\/td>\n\u00a0<\/td>\n4,185<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
NET INTEREST INCOME<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 16,053<\/strong>\n <\/td>\n\u00a0<\/td>\n9,867<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 31,829<\/strong>\n <\/td>\n\u00a0<\/td>\n19,532<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
PROVISION FOR LOAN LOSSES<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,500<\/strong>\n <\/td>\n\u00a0<\/td>\n1,300<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 3,000<\/strong>\n <\/td>\n\u00a0<\/td>\n2,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 14,553<\/strong>\n <\/td>\n\u00a0<\/td>\n8,567<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 28,829<\/strong>\n <\/td>\n\u00a0<\/td>\n17,532<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER INCOME<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n
\n \u00a0<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n \u00a0<\/u>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n
\n \u00a0<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\n
\n \u00a0<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n \u00a0<\/u>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/u>\n <\/td>\n<\/tr>\n
Service charges and fees<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,532<\/strong>\n <\/td>\n\u00a0<\/td>\n837<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,782<\/strong>\n <\/td>\n\u00a0<\/td>\n1,901<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income from fiduciary activities<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 181<\/strong>\n <\/td>\n\u00a0<\/td>\n175<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 341<\/strong>\n <\/td>\n\u00a0<\/td>\n328<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net realized gains on sales of securities<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/strong>\n <\/td>\n\u00a0<\/td>\n–<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21<\/strong>\n <\/td>\n\u00a0<\/td>\n38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gains on sales of loans, net<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 109<\/strong>\n <\/td>\n\u00a0<\/td>\n65<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 138<\/strong>\n <\/td>\n\u00a0<\/td>\n121<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings and proceeds on life insurance policies<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 194<\/strong>\n <\/td>\n\u00a0<\/td>\n212<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 568<\/strong>\n <\/td>\n\u00a0<\/td>\n420<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 171<\/strong>\n <\/td>\n\u00a0<\/td>\n103<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 326<\/strong>\n <\/td>\n\u00a0<\/td>\n239<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total other income<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,187<\/strong>\n <\/td>\n\u00a0<\/td>\n1,392<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 4,176<\/strong>\n <\/td>\n\u00a0<\/td>\n3,047<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER EXPENSES<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Salaries and\u00a0 employee benefits<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 5,171<\/strong>\n <\/td>\n\u00a0<\/td>\n3,289<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 10,125<\/strong>\n <\/td>\n\u00a0<\/td>\n7,065<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Occupancy, furniture and equipment<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,186<\/strong>\n <\/td>\n\u00a0<\/td>\n906<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,406<\/strong>\n <\/td>\n\u00a0<\/td>\n1,875<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Data processing\u00a0 and related operations<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 562<\/strong>\n <\/td>\n\u00a0<\/td>\n466<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,166<\/strong>\n <\/td>\n\u00a0<\/td>\n903<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Taxes, other than income<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 229<\/strong>\n <\/td>\n\u00a0<\/td>\n214<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 534<\/strong>\n <\/td>\n\u00a0<\/td>\n427<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Professional fees<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 343<\/strong>\n <\/td>\n\u00a0<\/td>\n225<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 883<\/strong>\n <\/td>\n\u00a0<\/td>\n443<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
FDIC Insurance assessment<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 154<\/strong>\n <\/td>\n\u00a0<\/td>\n42<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 335<\/strong>\n <\/td>\n\u00a0<\/td>\n42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreclosed real estate<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 13<\/strong>\n <\/td>\n\u00a0<\/td>\n(2)<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 42<\/strong>\n <\/td>\n\u00a0<\/td>\n14<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of intangibles<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 34<\/strong>\n <\/td>\n\u00a0<\/td>\n21<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 68<\/strong>\n <\/td>\n\u00a0<\/td>\n44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Merger related<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –<\/strong>\n <\/td>\n\u00a0<\/td>\n1,597<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 0<\/strong>\n <\/td>\n\u00a0<\/td>\n1,597<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,800<\/strong>\n <\/td>\n\u00a0<\/td>\n1,334<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 3,385<\/strong>\n <\/td>\n\u00a0<\/td>\n2,742<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total other expenses<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 9,492<\/strong>\n <\/td>\n\u00a0<\/td>\n8,092<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 18,944<\/strong>\n <\/td>\n\u00a0<\/td>\n15,152<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INCOME BEFORE TAX<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 7,248<\/strong>\n <\/td>\n\u00a0<\/td>\n1,867<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 14,061<\/strong>\n <\/td>\n\u00a0<\/td>\n5,427<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INCOME TAX EXPENSE<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 1,493<\/strong>\n <\/td>\n\u00a0<\/td>\n379<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2,765<\/strong>\n <\/td>\n\u00a0<\/td>\n860<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
NET INCOME<\/td>\n\n \u00a0$<\/strong>\n <\/td>\n\n 5,755<\/strong>\n <\/td>\n$<\/td>\n1,488<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0$<\/strong>\n <\/td>\n\n 11,296<\/strong>\n <\/td>\n$<\/td>\n4,567<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic earnings per share<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.70<\/strong>\n <\/td>\n$<\/td>\n0.24<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1.38<\/strong>\n <\/td>\n$<\/td>\n0.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.70<\/strong>\n <\/td>\n$<\/td>\n0.24<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 1.38<\/strong>\n <\/td>\n$<\/td>\n0.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n NORWOOD FINANCIAL CORP.<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Financial Highlights (Unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (dollars in thousands, except per share data)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n For the Three Months Ended June 30<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest income<\/td>\n\u00a0$<\/td>\n\n 16,053<\/strong>\n <\/td>\n\u00a0$<\/td>\n9,867<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\n 5,755<\/strong>\n <\/td>\n\u00a0<\/td>\n1,488<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest spread (fully taxable equivalent)<\/td>\n\u00a0<\/td>\n\n 3.32%<\/strong>\n <\/td>\n\u00a0<\/td>\n3.03%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest margin (fully taxable equivalent)<\/td>\n\u00a0<\/td>\n\n 3.44%<\/strong>\n <\/td>\n\u00a0<\/td>\n3.25%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n\n 1.15%<\/strong>\n <\/td>\n\u00a0<\/td>\n0.45%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average equity<\/td>\n\u00a0<\/td>\n\n 11.59%<\/strong>\n <\/td>\n\u00a0<\/td>\n4.17%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible equity<\/td>\n\u00a0<\/td>\n\n 13.63%<\/strong>\n <\/td>\n\u00a0<\/td>\n4.54%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic earnings per share\u00a0\u00a0<\/td>\n\u00a0$<\/td>\n\n 0.70<\/strong>\n <\/td>\n\u00a0$<\/td>\n0.24<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share\u00a0<\/td>\n\u00a0$<\/td>\n\n 0.70<\/strong>\n <\/td>\n\u00a0$<\/td>\n0.24<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n For the Six Months Ended June 30<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest income<\/td>\n\u00a0$<\/td>\n\n 31,829<\/strong>\n <\/td>\n\u00a0$<\/td>\n19,532<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\n 11,296<\/strong>\n <\/td>\n\u00a0<\/td>\n4,567<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest spread (fully taxable equivalent)<\/td>\n\u00a0<\/td>\n\n 3.39%<\/strong>\n <\/td>\n\u00a0<\/td>\n3.12%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest margin (fully taxable equivalent)<\/td>\n\u00a0<\/td>\n\n 3.51%<\/strong>\n <\/td>\n\u00a0<\/td>\n3.36%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n\n 1.16%<\/strong>\n <\/td>\n\u00a0<\/td>\n0.72%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average equity<\/td>\n\u00a0<\/td>\n\n 11.49%<\/strong>\n <\/td>\n\u00a0<\/td>\n6.46%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible equity<\/td>\n\u00a0<\/td>\n\n 13.53%<\/strong>\n <\/td>\n\u00a0<\/td>\n7.03%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic earnings per share\u00a0\u00a0<\/td>\n\u00a0$<\/td>\n\n 1.38<\/strong>\n <\/td>\n\u00a0$<\/td>\n0.73<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share\u00a0<\/td>\n\u00a0$<\/td>\n\n 1.38<\/strong>\n <\/td>\n\u00a0$<\/td>\n0.73<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n As of June 30<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0$<\/td>\n\n 2,025,564<\/strong>\n <\/td>\n\u00a0$<\/td>\n1,354,541<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total loans receivable<\/td>\n\u00a0<\/td>\n\n 1,386,654<\/strong>\n <\/td>\n\u00a0<\/td>\n988,679<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for loan losses<\/td>\n\u00a0<\/td>\n\n 15,340<\/strong>\n <\/td>\n\u00a0<\/td>\n10,312<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total deposits<\/td>\n\u00a0<\/td>\n\n 1,688,941<\/strong>\n <\/td>\n\u00a0<\/td>\n1,086,238<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders’ equity<\/td>\n\u00a0<\/td>\n\n 200,499<\/strong>\n <\/td>\n\u00a0<\/td>\n142,664<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trust assets under management<\/td>\n\u00a0<\/td>\n\n 180,602<\/strong>\n <\/td>\n\u00a0<\/td>\n149,535<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book value per share\u00a0<\/td>\n\u00a0$<\/td>\n\n 24.47<\/strong>\n <\/td>\n\u00a0$<\/td>\n22.62<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible book value per share\u00a0<\/td>\n\u00a0$<\/td>\n\n 20.85<\/strong>\n <\/td>\n\u00a0$<\/td>\n20.80<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity to total assets<\/td>\n\u00a0<\/td>\n\n 9.90%<\/strong>\n <\/td>\n\u00a0<\/td>\n10.53%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance to total loans receivable<\/td>\n\u00a0<\/td>\n\n 1.11%<\/strong>\n <\/td>\n\u00a0<\/td>\n1.04%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nonperforming loans to total loans\u00a0<\/td>\n\u00a0<\/td>\n\n 0.28%<\/strong>\n <\/td>\n\u00a0<\/td>\n0.30%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nonperforming assets to total assets<\/td>\n\u00a0<\/td>\n\n 0.24%<\/strong>\n <\/td>\n\u00a0<\/td>\n0.29%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n NORWOOD FINANCIAL CORP.<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Consolidated Balance Sheets (unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (dollars in thousands)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nJune 30<\/td>\n\u00a0<\/td>\nMarch<\/td>\n\u00a0<\/td>\nDecember 31<\/td>\n\u00a0<\/td>\nSeptember 30<\/td>\n\u00a0<\/td>\nJune 30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and due from banks<\/td>\n$<\/td>\n34,831<\/td>\n$<\/td>\n20,364<\/td>\n$<\/td>\n19,445<\/td>\n$<\/td>\n23,874<\/td>\n$<\/td>\n15,387<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest-bearing deposits with banks<\/td>\n\u00a0<\/td>\n170,342<\/td>\n\u00a0<\/td>\n190,135<\/td>\n\u00a0<\/td>\n92,248<\/td>\n\u00a0<\/td>\n100,566<\/td>\n\u00a0<\/td>\n67,989<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n205,173<\/td>\n\u00a0<\/td>\n210,499<\/td>\n\u00a0<\/td>\n111,693<\/td>\n\u00a0<\/td>\n124,440<\/td>\n\u00a0<\/td>\n83,376<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Securities available for sale<\/td>\n\u00a0<\/td>\n333,636<\/td>\n\u00a0<\/td>\n275,224<\/td>\n\u00a0<\/td>\n226,586<\/td>\n\u00a0<\/td>\n197,436<\/td>\n\u00a0<\/td>\n196,735<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans receivable<\/td>\n\u00a0<\/td>\n1,386,654<\/td>\n\u00a0<\/td>\n1,421,568<\/td>\n\u00a0<\/td>\n1,410,732<\/td>\n\u00a0<\/td>\n1,414,662<\/td>\n\u00a0<\/td>\n988,679<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: Allowance for loan losses<\/td>\n\u00a0<\/td>\n15,340<\/td>\n\u00a0<\/td>\n14,509<\/td>\n\u00a0<\/td>\n13,150<\/td>\n\u00a0<\/td>\n11,674<\/td>\n\u00a0<\/td>\n10,312<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loans receivable<\/td>\n\u00a0<\/td>\n1,371,314<\/td>\n\u00a0<\/td>\n1,407,059<\/td>\n\u00a0<\/td>\n1,397,582<\/td>\n\u00a0<\/td>\n1,402,988<\/td>\n\u00a0<\/td>\n978,367<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Regulatory stock, at cost<\/td>\n\u00a0<\/td>\n4,084<\/td>\n\u00a0<\/td>\n4,043<\/td>\n\u00a0<\/td>\n3,981<\/td>\n\u00a0<\/td>\n3,876<\/td>\n\u00a0<\/td>\n3,677<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Bank owned life insurance<\/td>\n\u00a0<\/td>\n39,665<\/td>\n\u00a0<\/td>\n39,471<\/td>\n\u00a0<\/td>\n39,608<\/td>\n\u00a0<\/td>\n39,400<\/td>\n\u00a0<\/td>\n39,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Bank premises and equipment, net<\/td>\n\u00a0<\/td>\n17,298<\/td>\n\u00a0<\/td>\n17,648<\/td>\n\u00a0<\/td>\n17,814<\/td>\n\u00a0<\/td>\n18,124<\/td>\n\u00a0<\/td>\n14,040<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreclosed real estate owned<\/td>\n\u00a0<\/td>\n844<\/td>\n\u00a0<\/td>\n844<\/td>\n\u00a0<\/td>\n965<\/td>\n\u00a0<\/td>\n965<\/td>\n\u00a0<\/td>\n965<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill and other intangibles<\/td>\n\u00a0<\/td>\n29,727<\/td>\n\u00a0<\/td>\n29,785<\/td>\n\u00a0<\/td>\n29,820<\/td>\n\u00a0<\/td>\n30,778<\/td>\n\u00a0<\/td>\n11,522<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n23,823<\/td>\n\u00a0<\/td>\n25,263<\/td>\n\u00a0<\/td>\n23,815<\/td>\n\u00a0<\/td>\n24,100<\/td>\n\u00a0<\/td>\n26,676<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
TOTAL ASSETS<\/td>\n$<\/td>\n2,025,564<\/td>\n$<\/td>\n2,009,836<\/td>\n$<\/td>\n1,851,864<\/td>\n$<\/td>\n1,842,107<\/td>\n$<\/td>\n1,354,541<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-interest bearing demand<\/td>\n$<\/td>\n435,824<\/td>\n$<\/td>\n415,395<\/td>\n$<\/td>\n359,559<\/td>\n$<\/td>\n372,237<\/td>\n$<\/td>\n284,754<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest-bearing deposits<\/td>\n\u00a0<\/td>\n1,253,117<\/td>\n\u00a0<\/td>\n1,269,793<\/td>\n\u00a0<\/td>\n1,175,826<\/td>\n\u00a0<\/td>\n1,143,685<\/td>\n\u00a0<\/td>\n801,484<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total deposits<\/td>\n\u00a0<\/td>\n1,688,941<\/td>\n\u00a0<\/td>\n1,685,188<\/td>\n\u00a0<\/td>\n1,535,385<\/td>\n\u00a0<\/td>\n1,515,922<\/td>\n\u00a0<\/td>\n1,086,238<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Borrowings<\/td>\n\u00a0<\/td>\n119,858<\/td>\n\u00a0<\/td>\n112,283<\/td>\n\u00a0<\/td>\n105,762<\/td>\n\u00a0<\/td>\n115,732<\/td>\n\u00a0<\/td>\n106,027<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other liabilities<\/td>\n\u00a0<\/td>\n16,266<\/td>\n\u00a0<\/td>\n17,258<\/td>\n\u00a0<\/td>\n15,932<\/td>\n\u00a0<\/td>\n19,906<\/td>\n\u00a0<\/td>\n19,612<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
TOTAL LIABILITIES<\/td>\n\u00a0<\/td>\n1,825,065<\/td>\n\u00a0<\/td>\n1,814,729<\/td>\n\u00a0<\/td>\n1,657,079<\/td>\n\u00a0<\/td>\n1,651,560<\/td>\n\u00a0<\/td>\n1,211,877<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
STOCKHOLDERS’ EQUITY<\/td>\n\u00a0<\/td>\n200,499<\/td>\n\u00a0<\/td>\n195,107<\/td>\n\u00a0<\/td>\n194,785<\/td>\n\u00a0<\/td>\n190,547<\/td>\n\u00a0<\/td>\n142,664<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
TOTAL LIABILITIES AND<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
STOCKHOLDERS’ EQUITY<\/td>\n$<\/td>\n2,025,564<\/td>\n$<\/td>\n2,009,836<\/td>\n$<\/td>\n1,851,864<\/td>\n$<\/td>\n1,842,107<\/td>\n$<\/td>\n1,354,541<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n NORWOOD FINANCIAL CORP.<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Consolidated Statements of Income (unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n (dollars in thousands, except per share data)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\nJune 30<\/td>\n\u00a0<\/td>\nMarch 31<\/td>\n\u00a0<\/td>\nDecember 31<\/td>\n\u00a0<\/td>\nSeptember 30<\/td>\n\u00a0<\/td>\nJune 30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Three months ended<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INTEREST INCOME<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans receivable, including fees<\/td>\n$<\/td>\n16,102<\/td>\n$<\/td>\n16,146<\/td>\n$<\/td>\n16,336<\/td>\n$<\/td>\n16,260<\/td>\n$<\/td>\n10,767<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Securities<\/td>\n\u00a0<\/td>\n1,356<\/td>\n\u00a0<\/td>\n1,112<\/td>\n\u00a0<\/td>\n1,064<\/td>\n\u00a0<\/td>\n1,031<\/td>\n\u00a0<\/td>\n1,063<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n59<\/td>\n\u00a0<\/td>\n43<\/td>\n\u00a0<\/td>\n29<\/td>\n\u00a0<\/td>\n18<\/td>\n\u00a0<\/td>\n19<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total interest income<\/td>\n\u00a0<\/td>\n17,517<\/td>\n\u00a0<\/td>\n17,301<\/td>\n\u00a0<\/td>\n17,429<\/td>\n\u00a0<\/td>\n17,309<\/td>\n\u00a0<\/td>\n11,849<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INTEREST EXPENSE<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits<\/td>\n\u00a0<\/td>\n1,205<\/td>\n\u00a0<\/td>\n1,255<\/td>\n\u00a0<\/td>\n1,514<\/td>\n\u00a0<\/td>\n1,676<\/td>\n\u00a0<\/td>\n1,630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Borrowings<\/td>\n\u00a0<\/td>\n259<\/td>\n\u00a0<\/td>\n270<\/td>\n\u00a0<\/td>\n301<\/td>\n\u00a0<\/td>\n303<\/td>\n\u00a0<\/td>\n352<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total interest expense<\/td>\n\u00a0<\/td>\n1,464<\/td>\n\u00a0<\/td>\n1,525<\/td>\n\u00a0<\/td>\n1,815<\/td>\n\u00a0<\/td>\n1,979<\/td>\n\u00a0<\/td>\n1,982<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
NET INTEREST INCOME<\/td>\n\u00a0<\/td>\n16,053<\/td>\n\u00a0<\/td>\n15,776<\/td>\n\u00a0<\/td>\n15,614<\/td>\n\u00a0<\/td>\n15,330<\/td>\n\u00a0<\/td>\n9,867<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
PROVISION FOR LOAN LOSSES<\/td>\n\u00a0<\/td>\n1,500<\/td>\n\u00a0<\/td>\n1,500<\/td>\n\u00a0<\/td>\n1,600<\/td>\n\u00a0<\/td>\n1,850<\/td>\n\u00a0<\/td>\n1,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
NET INTEREST INCOME AFTER PROVISION<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
FOR LOAN LOSSES<\/td>\n\u00a0<\/td>\n14,553<\/td>\n\u00a0<\/td>\n14,276<\/td>\n\u00a0<\/td>\n14,014<\/td>\n\u00a0<\/td>\n13,480<\/td>\n\u00a0<\/td>\n8,567<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER INCOME<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Service charges and fees<\/td>\n\u00a0<\/td>\n1,532<\/td>\n\u00a0<\/td>\n1,247<\/td>\n\u00a0<\/td>\n1,913<\/td>\n\u00a0<\/td>\n1,301<\/td>\n\u00a0<\/td>\n837<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income from fiduciary activities<\/td>\n\u00a0<\/td>\n181<\/td>\n\u00a0<\/td>\n160<\/td>\n\u00a0<\/td>\n150<\/td>\n\u00a0<\/td>\n205<\/td>\n\u00a0<\/td>\n175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net realized gains on sales of securities<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n33<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gains on sales of loans, net<\/td>\n\u00a0<\/td>\n109<\/td>\n\u00a0<\/td>\n29<\/td>\n\u00a0<\/td>\n241<\/td>\n\u00a0<\/td>\n164<\/td>\n\u00a0<\/td>\n65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings and proceeds on life insurance policies<\/td>\n\u00a0<\/td>\n194<\/td>\n\u00a0<\/td>\n374<\/td>\n\u00a0<\/td>\n208<\/td>\n\u00a0<\/td>\n217<\/td>\n\u00a0<\/td>\n212<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n171<\/td>\n\u00a0<\/td>\n158<\/td>\n\u00a0<\/td>\n149<\/td>\n\u00a0<\/td>\n152<\/td>\n\u00a0<\/td>\n103<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total other income<\/td>\n\u00a0<\/td>\n2,187<\/td>\n\u00a0<\/td>\n1,989<\/td>\n\u00a0<\/td>\n2,661<\/td>\n\u00a0<\/td>\n2,072<\/td>\n\u00a0<\/td>\n1,392<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER EXPENSES<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Salaries and\u00a0 employee benefits<\/td>\n\u00a0<\/td>\n5,171<\/td>\n\u00a0<\/td>\n4,953<\/td>\n\u00a0<\/td>\n5,243<\/td>\n\u00a0<\/td>\n4,812<\/td>\n\u00a0<\/td>\n3,289<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Occupancy, furniture and equipment, net<\/td>\n\u00a0<\/td>\n1,186<\/td>\n\u00a0<\/td>\n1,220<\/td>\n\u00a0<\/td>\n1,165<\/td>\n\u00a0<\/td>\n1,109<\/td>\n\u00a0<\/td>\n906<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreclosed real estate<\/td>\n\u00a0<\/td>\n13<\/td>\n\u00a0<\/td>\n30<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n31<\/td>\n\u00a0<\/td>\n(2)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
FDIC insurance assessment<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n181<\/td>\n\u00a0<\/td>\n213<\/td>\n\u00a0<\/td>\n144<\/td>\n\u00a0<\/td>\n42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Merger related<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n66<\/td>\n\u00a0<\/td>\n386<\/td>\n\u00a0<\/td>\n1,597<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n2,968<\/td>\n\u00a0<\/td>\n3,068<\/td>\n\u00a0<\/td>\n3,214<\/td>\n\u00a0<\/td>\n2,898<\/td>\n\u00a0<\/td>\n2,260<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total other expenses<\/td>\n\u00a0<\/td>\n9,492<\/td>\n\u00a0<\/td>\n9,452<\/td>\n\u00a0<\/td>\n9,909<\/td>\n\u00a0<\/td>\n9,380<\/td>\n\u00a0<\/td>\n8,092<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INCOME BEFORE TAX<\/td>\n\u00a0<\/td>\n7,248<\/td>\n\u00a0<\/td>\n6,813<\/td>\n\u00a0<\/td>\n6,766<\/td>\n\u00a0<\/td>\n6,172<\/td>\n\u00a0<\/td>\n1,867<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
INCOME TAX EXPENSE<\/td>\n\u00a0<\/td>\n1,493<\/td>\n\u00a0<\/td>\n1,271<\/td>\n\u00a0<\/td>\n1,253<\/td>\n\u00a0<\/td>\n1,173<\/td>\n\u00a0<\/td>\n379<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
NET INCOME<\/td>\n$<\/td>\n5,755<\/td>\n$<\/td>\n5,542<\/td>\n$<\/td>\n5,513<\/td>\n$<\/td>\n4,999<\/td>\n$<\/td>\n1,488<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic earnings per share<\/td>\n$<\/td>\n0.70<\/td>\n$<\/td>\n0.68<\/td>\n$<\/td>\n0.67<\/td>\n$<\/td>\n0.62<\/td>\n$<\/td>\n0.24<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share<\/td>\n$<\/td>\n0.70<\/td>\n$<\/td>\n0.67<\/td>\n$<\/td>\n0.67<\/td>\n$<\/td>\n0.62<\/td>\n$<\/td>\n0.24<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book Value per share<\/td>\n$<\/td>\n24.47<\/td>\n$<\/td>\n23.82<\/td>\n$<\/td>\n23.72<\/td>\n$<\/td>\n23.30<\/td>\n$<\/td>\n22.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible Book Value per share<\/td>\n\u00a0<\/td>\n20.85<\/td>\n\u00a0<\/td>\n20.20<\/td>\n\u00a0<\/td>\n20.10<\/td>\n\u00a0<\/td>\n19.55<\/td>\n\u00a0<\/td>\n20.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average assets (annualized)<\/td>\n\u00a0<\/td>\n1.15%<\/td>\n\u00a0<\/td>\n1.18%<\/td>\n\u00a0<\/td>\n1.18%<\/td>\n\u00a0<\/td>\n1.11%<\/td>\n\u00a0<\/td>\n0.45%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average equity (annualized)<\/td>\n\u00a0<\/td>\n11.59%<\/td>\n\u00a0<\/td>\n11.39%<\/td>\n\u00a0<\/td>\n11.32%<\/td>\n\u00a0<\/td>\n10.64%<\/td>\n\u00a0<\/td>\n4.17%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible equity (annualized)<\/td>\n\u00a0<\/td>\n13.63%<\/td>\n\u00a0<\/td>\n13.42%<\/td>\n\u00a0<\/td>\n13.46%<\/td>\n\u00a0<\/td>\n11.75%<\/td>\n\u00a0<\/td>\n4.54%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest spread (fte)<\/td>\n\u00a0<\/td>\n3.32%<\/td>\n\u00a0<\/td>\n3.46%<\/td>\n\u00a0<\/td>\n3.50%<\/td>\n\u00a0<\/td>\n3.55%<\/td>\n\u00a0<\/td>\n3.03%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest margin (fte)<\/td>\n\u00a0<\/td>\n3.44%<\/td>\n\u00a0<\/td>\n3.59%<\/td>\n\u00a0<\/td>\n3.65%<\/td>\n\u00a0<\/td>\n3.73%<\/td>\n\u00a0<\/td>\n3.25%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for loan losses to total loans<\/td>\n\u00a0<\/td>\n1.11%<\/td>\n\u00a0<\/td>\n1.02%<\/td>\n\u00a0<\/td>\n0.93%<\/td>\n\u00a0<\/td>\n0.83%<\/td>\n\u00a0<\/td>\n1.04%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net charge-offs to average loans (annualized)<\/td>\n\u00a0<\/td>\n0.19%<\/td>\n\u00a0<\/td>\n0.04%<\/td>\n\u00a0<\/td>\n0.04%<\/td>\n\u00a0<\/td>\n0.14%<\/td>\n\u00a0<\/td>\n0.03%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nonperforming loans to total loans<\/td>\n\u00a0<\/td>\n0.28%<\/td>\n\u00a0<\/td>\n0.22%<\/td>\n\u00a0<\/td>\n0.24%<\/td>\n\u00a0<\/td>\n0.29%<\/td>\n\u00a0<\/td>\n0.30%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nonperforming assets to total assets<\/td>\n\u00a0<\/td>\n0.24%<\/td>\n\u00a0<\/td>\n0.20%<\/td>\n\u00a0<\/td>\n0.24%<\/td>\n\u00a0<\/td>\n0.27%<\/td>\n\u00a0<\/td>\n0.29%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

HONESDALE, Pa., July 23, 2021 (GLOBE NEWSWIRE) — Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, announced record earnings for the three months ended June 30, 2021 of $5,755,000, which was $4,267,000, or 287%, higher than the similar period of last year. The increase reflects the benefits derived from the Company\u2019s acquisition of UpState New York Bancorp, Inc. (\u201cUpState\u201d), which closed on July 7, 2020, and fee income related to Paycheck Protection Program (\u201cPPP\u201d) loans. Earnings per share (fully diluted) were $0.70 in the 2021 period compared to $0.24 in the same period of last year. The annualized return on average assets for the three months ended June … <\/p>\n

Continue reading “Norwood Financial Corp Announces Second Quarter Earnings”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-517035","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNorwood Financial Corp Announces Second Quarter Earnings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/norwood-financial-corp-announces-second-quarter-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Norwood Financial Corp Announces Second Quarter Earnings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HONESDALE, Pa., July 23, 2021 (GLOBE NEWSWIRE) — Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, announced record earnings for the three months ended June 30, 2021 of $5,755,000, which was $4,267,000, or 287%, higher than the similar period of last year. The increase reflects the benefits derived from the Company\u2019s acquisition of UpState New York Bancorp, Inc. (\u201cUpState\u201d), which closed on July 7, 2020, and fee income related to Paycheck Protection Program (\u201cPPP\u201d) loans. Earnings per share (fully diluted) were $0.70 in the 2021 period compared to $0.24 in the same period of last year. 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