NORWOOD FINANCIAL CORP

Listed Company

NWFLCIK 0001013272NasdaqAcceleratedSmaller ReportingState Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

$8.00M

Net Income

$27.75M

Total Assets

$2.42B

Equity

$242.16M

Shares Out

10.89M

Op. Cash Flow

$33.97M

+ 13F Filer

Business

NORWOOD FINANCIAL CORP is a bank holding company that provides commercial banking and financial services through its primary subsidiary, Wayne Bank. It offers deposit accounts, consumer and commercial loans, mortgage and real estate settlement services, trust, wealth management, investment products, and insurance and brokerage services through a licensed insurance subsidiary and broker/dealer relationships. Its key operating units include Wayne Bank, a Wealth Management/Trust Department, Norwood Investment Corp., and real estate subsidiaries. The company distributes services via branch offices, ATMs, and digital channels across northeastern Pennsylvania and selected counties in upstate New York.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans receivable, including fees	110	99	85	66	65
Securities: Taxable	15	9	8	7	4
Securities: Tax exempt	991,000	1	2	2	1
Interest-bearing deposits with banks	1	3	409,000	602,000	266,000
Total interest income	127	113	96	76	71
Deposits	44	42	26	6	5
Short-term borrowings	798,000	1	3	524,000	284,000
Other borrowings	4	7	4	274,000	716,000
Total Interest Expense	48	50	33	—	—
Net Interest Income	78	62	62	68	65
Provision for credit losses	2	3	—	—	—
(Release of) provision for off balance sheet commitments	−156,000	127,000	—	—	—
Total Provision for credit losses	2	3	6	900,000	4
Net Interest Income After Provision for Credit Losses	77	60	57	67	61
Other income	8	7	7	9	7
Net realized losses on sales of securities	—	−20	−209,000	3,000	92,000
Net gain on sale of loans	326,000	195,000	63,000	3,000	177,000
Net gain on sale of foreclosed real estate owned	—	32,000	80,000	427,000	36,000
Earnings and proceeds on life insurance policies	1	1	1	1	941,000
Other	749,000	626,000	667,000	2	674,000
Total Other Income (Loss)	10	−11	8	10	8
Salaries and employee benefits	27	25	24	22	21
Occupancy	4	4	4	4	4
Furniture and equipment	1	1	1	1	1
Data processing and related operations	5	5	3	3	2
Federal Deposit Insurance Corporation insurance assessment	2	1	985,000	612,000	681,000
Advertising	742,000	930,000	630,000	516,000	473,000
Professional fees	2	2	2	2	2
Postage and telephone	1	1	981,000	959,000	993,000
Taxes, other than income	770,000	615,000	566,000	1	1
Foreclosed real estate	142,000	54,000	129,000	73,000	151,000
Amortization of intangible assets	54,000	69,000	85,000	101,000	123,000
Merger	1	—	—	—	—
Other	6	8	6	6	6
Total Other Expenses	51	49	43	41	39
Income (loss) before Income Taxes	35	−258,000	21	36	31
INCOME TAX EXPENSE (BENEFIT)	7	−98,000	4	7	6
Net income (loss)	28	−160,000	17	29	25
BASIC EARNINGS (LOSS) PER SHARE	3.01	−0.02	2.08	3.59	3.05
DILUTED EARNINGS (LOSS) PER SHARE	3.01	−0.02	2.07	3.58	3.04

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	32	28	29	29	21
Interest-bearing deposits with banks	12	45	38	3	186
Cash and cash equivalents	44	72	66	32	207
Securities available for sale	409	398	406	419	407
Loans receivable (net of allowance for credit losses 2025: $19,882; 2024: $19,843)	1,834	1,694	1,585	—	—
Regulatory stock, at cost	7	13	7	5	4
Premises and equipment, net	23	20	18	18	17
Bank owned life insurance	46	47	46	43	40
Accrued interest receivable	9	8	8	7	6
Foreclosed real estate owned	771,000	0	97,000	346,000	2
Deferred tax assets, net	15	18	21	24	9
Goodwill	29	29	29	29	29
Other intangibles	98,000	152,000	221,000	306,000	407,000
Other assets	8	18	13	12	9
Total Assets	2,425	2,317	2,201	2,047	2,069
Noninterest-bearing demand	420	381	400	435	441
Interest-bearing demand	404	316	253	238	197
Money market deposit accounts	188	184	207	273	309
Savings	201	210	226	278	281
Time	865	768	709	504	529
Total Deposits	2,079	1,859	1,795	1,728	1,757
Short-term borrowings	15	113	74	93	61
Other borrowings	59	102	124	40	30
Accrued interest payable	12	13	11	3	1
Other liabilities	18	17	16	16	14
Total Liabilities	2,183	2,104	2,020	1,880	1,863
Preferred stock, no par value, authorized: 5,000,000 shares, issued: none	—	—	—	—	—
Common stock, $0.10 par value, authorized: 20,000,000 shares, issued: 2025: 9,516,503 shares, 2024: 9,487,068 shares	952,000	949,000	831,000	829,000	827,000
Surplus	127	127	98	97	96
Retained earnings	141	125	135	130	110
Treasury stock at cost: 2025: 222,645 shares; 2024: 214,161 shares	−6	−6	−5	−3	−2
Accumulated other comprehensive loss	−21	−33	−47	−57	−256,000
Total Stockholders' Equity	242	214	181	167	205
Total Liabilities and Stockholders' Equity	2,425	2,317	2,201	2,047	2,069

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	1	1	1	1	1
Deferred income taxes	−94,000	−125,000	583,000	419,000	−383,000
Net (accretion) amortization of securities premiums and discounts	−623,000	590,000	841,000	1	2
Net realized loss on sales of securities	—	20	209,000	−3,000	−92,000
Earnings and proceeds on life insurance policies	−1	−1	−1	−1	−941,000
Gain on sales of fixed assets and foreclosed real estate owned	−9,000	−32,000	96,000	−379,000	108,000
Net amortization of loan fees	756,000	653,000	602,000	−217,000	−3
Net gain on sale of loans	−326,000	−195,000	−63,000	−3,000	−177,000
Mortgage loans originated for sale	−13	−9	−5	−845,000	—
Proceeds from sale of loans originated for sale	13	9	5	848,000	—
Compensation expense related to stock options	248,000	346,000	401,000	269,000	214,000
Compensation expense related to restricted stock	528,000	375,000	429,000	372,000	335,000
Increase in accrued interest receivable	−784,000	−343,000	−1	−1	343,000
(Decrease) increase in accrued interest payable	−477,000	2	8	1	−398,000
Other, net	5	−4	−3	−2	1
Net Cash Provided by Operating Activities	34	23	30	31	29
Proceeds from sales	0	155	3	5	11
Proceeds from maturities and principal reductions on mortgage-backed securities	68	59	34	41	68
Purchases	−63	−208	−13	−131	−268
Purchase of regulatory stock	−18	−19	−17	−6	−4
Redemption of regulatory stock	25	13	15	5	4
Net increase in loans	−137	−113	−136	−119	58
Proceeds from bank-owned life insurance	2	838,000	437,000	761,000	511,000
Purchase of premises and equipment	−5	−3	−1	−2	−1
Proceeds from sales of foreclosed real estate owned	—	109,000	662,000	2	291,000
Net Cash Used for Investing Activities	−129	−115	−117	−208	−131
Net increase in deposits	219	64	67	−29	221
Net (decrease) increase in short-term borrowings	−98	39	−19	32	−2
Repayments of other borrowings	−82	−82	−71	−30	−12
Proceeds from other borrowings	40	60	155	40	—
Stock options exercised	80,000	269,000	886,000	657,000	394,000
Sale of treasury stock for ESOP	98,000	100,000	100,000	132,000	130,000
Acquisition of treasury stock	−361,000	−703,000	−3	−3	−1
Common stock Issuance	—	28	—	—	—
Cash dividends paid	−11	−10	−9	−9	−9
Net Cash Provided by Financing Activities	67	99	121	2	197
Net (Decrease) Increase in Cash and Cash Equivalents	−28	6	34	−175	95
Interest paid	49	48	26	6	6
Income taxes paid, net of refunds	3	3	5	7	5
Transfers of loans to foreclosed real estate owned and repossession of other assets	3	2	2	776,000	2
Dividends payable	3	3	2	2	2
Right of use for operating leases	—	417,000	—	—	—
Lease liability for operating leases	—	418,000	—	—	—

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 374 positions

Reported AUM

$68.90M

Holdings

374

Top sector

$68.90M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$68.90M	100.0%

Top holdings

Issuer	Ticker	Shares	Value	%
NORWOOD FINANCIAL CORP	—	203.2K	$5.81M	8.4%
NORWOOD FINANCIAL CORP	—	187.1K	$5.35M	7.8%
VANGUARD LARGE CAP GROWTH ETF	—	10.8K	$3.12M	4.5%
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD	—	28.0K	$2.19M	3.2%
ISHARES S&P 600 SMALL CAP GROWTH ETF	—	14.2K	$1.78M	2.6%
MICROSOFT CORP	—	5.2K	$1.62M	2.4%
VANGUARD LARGE CAP VALUE ETF	—	10.9K	$1.60M	2.3%
ABBVIE INC	—	7.6K	$1.23M	1.8%
APPLE INCORPORATED	—	7.0K	$1.23M	1.8%
VANGUARD SCOTTSDALE FDS INT TERM CORP	—	13.1K	$1.13M	1.6%