Stock Data
$0.28 (0.90%)
Asset Type
Common Stock
Exchange
NASDAQ
Currency
USD
Country
USA
Sector
FINANCIAL SERVICES
Industry
BANKS - REGIONAL
Norwood Financial Corp, headquartered in Honesdale, Pennsylvania since 1870, operates Wayne Bank, offering a broad spectrum of banking services. These services include a variety of deposit accounts, commercial, municipal, and consumer loans, as well as mortgage and indirect dealer financing for vehicles and recreational equipment. Beyond traditional banking, Norwood provides investment, credit, trust, and insurance services, catering to individuals, businesses, and municipalities primarily in Northeastern Pennsylvania and parts of New York. The company also supports digital banking needs with online and mobile services, enhancing customer convenience.
Norwood Financial's 44% revenue beat was undercut by a sharp spike in problem loans after a $22 million commercial real estate bankruptcy filing pushed nonperforming loans to 1.23% of the loan portfolio, though net interest income jumped 41% year over year to $26.8 million on the back of the completed Presence Bancshares integration.
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