Articles from Norwood Financial Corp

HONESDALE, Pa., March 31, 2025 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors has declared a $0.31 per share cash dividend, which is payable on May 1, 2025, to stockholders of record as of April 15, 2025. The $0.31 per share is a $0.01 increase over the per share dividend declared in the first quarter of 2024.

HONESDALE, Pa., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Susan Campfield has announced her retirement from the Board of Directors of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, effective February 18, 2025.

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HONESDALE, Pa., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ Global Market - NWFL) announced today that the dividend payment date for the fourth quarter cash dividend is February 3, 2025, not February 1, 2025, as was announced yesterday. The January 15, 2025 record date for the dividend remains the same.

HONESDALE, Pa., Dec. 18, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors has declared a $0.31 per share cash dividend, which is payable on February 1, 2025, to stockholders of record as of January 15, 2025. The $0.31 per share is a $0.01 increase over the per share dividend declared in the third quarter of 2024, and represents a 3.33% increase over the cash dividend declared in the fourth quarter of 2023.

HONESDALE, Pa., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ: NWFL) (“Norwood” or the “Company”) today announced the pricing of a public offering of 1,000,000 shares of its common stock, $0.10 par value (the “Common Stock”), at a public offering price of $26.00 per share, for aggregate gross proceeds of approximately $26 million.

HONESDALE, Pa., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ: NWFL) (“Norwood” or the “Company”), parent company of Wayne Bank, announced today that it has launched an underwritten public offering of shares of its common stock. The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock.

Quarterly Highlights:

HONESDALE, Pa., July 26, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, announced earnings for the three months ended June 30, 2024 of $4,213,000, which was $2,290,000 lower than the same three-month period of last year. The decrease includes a $717,000 decrease in net interest income, a $424,000 increase in total other income, a $506,000 increase in total other expense, and a $2,097,000 increase in the provision for credit losses. Earnings per share (fully diluted) were $0.52 in the three months ended June 30, 2024, compared to $0.81 in the same period of last year. The annualized return on average assets for the three months ended June 30, 2024, was 0.75%, while the annualized return on average tangible equity was 11.26%.

HONESDALE, Pa., July 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Norwood Financial Corp (NASDAQ Global Market – NWFL) and its subsidiary, Wayne Bank, announced the appointment of Ronald R. Schmalzle to the Board of Directors of Norwood Financial Corp (“Norwood” or the “Company”) and Wayne Bank.

HONESDALE, Pa., June 26, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors has declared a $0.30 per share cash dividend, which is payable August 1, 2024, to shareholders of record as of July 15, 2024. The $0.30 per share equals the per share dividend declared in the first quarter of 2024 and represents a 3.5% increase over the cash dividend declared in the second quarter of 2023.

HONESDALE, Pa., June 21, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (the “Company”) (NASDAQ Global Market: NWFL) and its wholly owned subsidiary Wayne Bank (the “Bank”), announced that the Board of Directors had appointed John M. McCaffery as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective as of June 24, 2024, the day he commences employment with the Company.

HONESDALE, Pa., April 26, 2024 (GLOBE NEWSWIRE) -- The 153rd Annual Meeting of Shareholders of Norwood Financial Corp (Nasdaq-NWFL), parent company of Wayne Bank, was held in person on Tuesday, April 23, 2024, at 6th & River, Honesdale, Pennsylvania.

HONESDALE, Pa., April 22, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market – NWFL) and its subsidiary, Wayne Bank, announced net income of $4,433,000 for the three months ended March 31, 2024, a decrease of $1,349,000, from net income of $5,782,000 for the three months ended March 31, 2023. The decrease was due primarily to a $1,383,000 decrease in net interest income and a $1,296,000 increase in total other expenses. Earnings per share on a fully diluted basis were $0.55 for the three-month period ended March 31, 2024, compared to $0.71 in the three-month period ended March 31, 2023. The annualized return on average assets was 0.80% in the first quarter of 2024 and the annualized return on average equity was 9.79%, compared to 1.13% and 13.61%, respectively, in the first quarter of 2023.

HONESDALE, Pa., Jan. 29, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market – NWFL), and its subsidiary Wayne Bank, announced net income for the three months ended December 31, 2023 of $355,000 compared to the net income of $7,140,000 earned in the three months ended December 31, 2022. The decrease in net income was due primarily to a $1,939,000 decrease in net interest income, and a $5,816,000 increase in the provision for credit losses. For the year ended December 31, 2023, net income totaled $16,759,000, a decrease of $12,474,000 from net income of $29,233,000 earned in year ended December 31, 2022. The decrease includes a $6,330,000 decrease in net interest income and a $4,648,000 increase in the provision for credit losses.

HONESDALE, Pa., Dec. 14, 2023 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL), and its subsidiary Wayne Bank, announced that the Board of Directors declared a $0.30 per share quarterly dividend, payable February 1, 2024, to shareholders of record as of January 12, 2024. The $0.30 per share represents an increase of 3.5% over the cash dividend declared in the third quarter of this year and the fourth quarter of 2022. During 2023, total cash dividends declared were $1.17 per share, compared to the $1.13 per share declared in 2022.

HONESDALE, Pa., Oct. 24, 2023 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, announced earnings for the three months ended September 30, 2023 of $4,119,000, which represents a decrease of $3,990,000, from the $8,109,000 earned in the same three-month period of 2022. The decrease in earnings was due to a $3.1 million decrease in net interest income, an $882,000 increase in the provision for credit losses, and a $1.1 million increase in total other expenses during the three-months ended September 30, 2023. For the three months ended September 30, 2023, earnings per share (fully diluted) were $0.51, which represents a decrease from the $1.00 earned in the three months ended September 30, 2022. The annualized returns on average assets and average tangible equity for the three-month period ended September 30, 2023, were 0.76% and 11.22%, respectively, compared to 1.57% and 21.48% for the three-month period ended September 30, 2022. Net income for the nine months ended September 30, 2023, totaled $16,405,000, which is $5,688,000 lower than the same period of 2022. The decrease in net income includes a $4,390,000 decrease in net interest income, a $2.0 million decrease in total other income, and a $1.9 million increase in total other expenses during the nine months ended September 30, 2023. Earnings per share (fully diluted) for the nine months ended September 30, 2023, totaled $2.03 per share compared to $2.71 per share for the nine months ended September 30, 2022.

HONESDALE, Pa., Sept. 18, 2023 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors declared a $.29 per share cash dividend, which is payable November 1, 2023, to shareholders of record as of October 13, 2023. The $.29 per share equals the per share dividend declared in the second quarter of 2023, and represents a 3.6% increase over the cash dividend declared in the third quarter of 2022.

HONESDALE, Pa., Aug. 23, 2023 (GLOBE NEWSWIRE) -- Wayne Bank, a subsidiary of Norwood Financial Corp (Nasdaq Global Market – NWFL), was recently ranked by Bank Director magazine as one of the top 25 best banks in the country in their Ranking Banking, The Best US Banks 2023 publication. Wayne Bank was also ranked number ten (#10) in the country for banks in the $1B-$5B asset size category.

HONESDALE, Pa., July 26, 2023 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market-NWFL) and its subsidiary, Wayne Bank, announced earnings for the three months ended June 30, 2023 of $6,503,000, which was $352,000 lower than the same three-month period of last year. The decrease includes a $1,252,000 decrease in net interest income, a $706,000 decrease in total other income, and a $466,000 increase in total other expense, which was partially offset by a $2,050,000 decrease in the provision for credit losses. Earnings per share (fully diluted) were $0.81 in the three months ended June 30, 2023, compared to $0.84 in the same period of last year. The annualized return on average assets for the three months ended June 30, 2023, was 1.23%, while the annualized return on average tangible equity was 17.66%. Net income for the six months ended June 30, 2023, was $12,285,000, which is $1,698,000 lower than the same six-month period of 2022, due to decreases in net interest income and total other income, and an increase in operating expenses, partially offset by a decrease in the provision for credit losses of $2,050,000.   Earnings per share (fully diluted) for the six months ended June 30, 2023, were $1.51, compared to $1.71 for the six months ended June 30, 2022. The annualized return on average assets for the six months ended June 30, 2023 was 1.18%. The annualized return on average tangible equity for the six months ended June 30, 2023 was 17.06%.

HONESDALE, Pa., July 13, 2023 (GLOBE NEWSWIRE) -- Jim Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market – NWFL) and its subsidiary, Wayne Bank, is pleased to announce that the Company has been included in the Russell 3000® Index, as part of the 2023 Russell U.S. Indexes annual reconstitution. The Russell 3000® Index encompasses and tracks the performance of the 3,000 largest traded U.S. stocks, based on market capitalization.

HONESDALE, Pa., June 28, 2023 (GLOBE NEWSWIRE) -- American Banker has conducted its rankings of the top-performing banks of 2023. Wayne Bank, a subsidiary of Norwood Financial Corp (Nasdaq Global Market – NWFL), has been evaluated by American Banker on profitability, efficiency, capital adequacy, and asset quality based on a three-year average return. Jim Donnelly, President and Chief Executive Officer of Wayne Bank, is pleased to announce that Wayne Bank has ranked number eighty-four out of two hundred in the $2 billion to $10 billion asset size category.

HONESDALE, Pa., June 16, 2023 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors declared a $.29 per share cash dividend, which is payable August 1, 2023, to shareholders of record as of July 14, 2023. The $.29 per share equals the per share dividend declared in the first quarter of 2023, and represents a 3.6% increase over the cash dividend declared in the second quarter of 2022.

HONESDALE, Pa., April 28, 2023 (GLOBE NEWSWIRE) -- The 152nd Annual Meeting of Shareholders of Norwood Financial Corp (Nasdaq-NWFL), parent company of Wayne Bank, was held on Tuesday, April 25, 2023, in a virtual meeting format.

HONESDALE, Pa., April 21, 2023 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market – NWFL) and its subsidiary, Wayne Bank, announced net income of $5,782,000 for the three months ended March 31, 2023, a decrease of $1,346,000, from net income of $7,128,000 for the three months ended March 31, 2022. The decrease was due primarily to a $1,426,000 decrease in other income. Earnings per share on a fully diluted basis were $0.71 for the three-month period ended March 31, 2023, compared to $0.87 in the three-month period ended March 31, 2022. The annualized return on average assets was 1.13% in the first quarter of 2023 and the annualized return on average equity was 13.61%, compared to 1.39% and 14.22%, respectively, in the first quarter of 2022.