Norwood Financial Corp
NASDAQ:NWFL

  • LAST PRICE
    24.1700
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    9.6700/ 2
  • Ask / Lots
    38.4300/ 1
  • Open / Previous Close
    0.0000 / 24.1700
  • Day Range
    ---
  • 52 Week Range
    23.5000
    34.5000
  • Volume
    ---

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  • Apr 26, 2024

  • Apr 22, 2024

      Show headlines and story abstract

    • 8:15AM ET on Monday Apr 22, 2024 by GlobeNewswire
      Companies Mentioned: NWFL

    • 8:15AM ET on Monday Apr 22, 2024 by Dow Jones
      Companies Mentioned: NWFL
      ========= ========= ========= ========= ========= NORWOOD FINANCIAL CORP Consolidated Statements of Income (unaudited) (dollars in thousands, except per share data) March 31 December 31 September 30 June 30 March 31 Three months ended 2024 2023 2023 2023 2023 ------------- ------------- ------------- ------------- ------------- INTEREST INCOME Loans receivable, including fees $ 23,681 $ 23,328 $ 22,021 $ 20,702 $ 19,158 Securities 2,526 2,504 2,433 2,481 2,505 Other 731 253 54 53 48 Total interest income 26,938 26,085 24,508 23,236 21,711 INTEREST EXPENSE Deposits 10,110 8,910 7,017 5,740 4,362 Borrowings 2,118 1,882 2,452 1,854 1,256 Total interest expense 12,228 10,792 9,469 7,594 5,618 --------- --------- --------- --------- --------- NET INTEREST INCOME 14,710 15,293 15,039 15,642 16,093 (RELEASE OF) PROVISION FOR CREDIT LOSSES (624) 6,116 882 (1,750) 300 NET INTEREST INCOME AFTER (RELEASE OF) PROVISION FOR CREDIT LOSSES 15,334 9,177 14,157 17,392 15,793 OTHER INCOME Service charges and fees 1,343 1,421 1,527 1,353 1,313 Income from fiduciary activities 238 210 246 229 212 Net realized (losses) gains on sales of securities - - - (212) 2 Gains on sales of loans, net 6 36 18 10 - Gains on sales of foreclosed real estate owned - 66 13 - - Earnings and proceeds on life insurance policies 268 242 328 229 213 Other 151 148 174 174 172 Total other income 2,006 2,123 2,306 1,783 1,912 OTHER EXPENSES Salaries and employee benefits 6,135 5,672 6,083 5,842 5,969 Occupancy, furniture and equipment, net 1,261 1,265 1,242 1,314 1,262 Foreclosed real estate 21 17 9 74 29 FDIC insurance assessment 361 287 254 244 200 Other 3,954 3,608 3,688 3,464 2,976 Total other expenses 11,732 10,849 11,276 10,938 10,436 INCOME BEFORE TAX 5,608 451 5,187 8,237 7,269 INCOME TAX EXPENSE 1,175 96 1,068 1,734 1,487 NET INCOME $ 4,433 $ 355 $ 4,119 $ 6,503 $ 5,782 ========= ========= ========= ========= ========= Basic earnings per share $ 0.55 $ 0.04 $ 0.51 $ 0.81 $ 0.71 ========= ========= ========= ========= ========= Diluted earnings per share $ 0.55 $ 0.04 $ 0.51 $ 0.81 $ 0.71 ========= ========= ========= ========= ========= Book Value per share $ 23.01 $ 22.99 $ 21.15 $ 22.24 $ 21.92 Tangible Book Value per share 19.38 19.36 17.49 18.58 18.31 Return on average assets (annualized) 0.80% 0.06% 0.76% 1.23% 1.13% Return on average equity (annualized) 9.79% 0.84% 9.33% 14.72% 13.61% Return on average tangible equity (annualized) 11.68% 1.01% 11.22% 17.66% 16.42% Net interest spread (fte) 2.07% 2.24% 2.28% 2.56% 2.83% Net interest margin (fte) 2.79% 2.95% 2.94% 3.09% 3.25% Allowance for credit losses to total loans 1.11% 1.18% 1.00% 1.11% 1.27% Net charge-offs to average loans (annualized) 0.08% 0.79% 0.59% 0.06% 0.08% Nonperforming loans to total loans 0.23% 0.48% 0.65% 0.20% 0.07% Nonperforming assets to total assets 0.17% 0.35% 0.50% 0.17% 0.06%

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