Welcome to our dedicated page for Norwood Financial news (Ticker: NWFL), a resource for investors and traders seeking the latest updates and insights on Norwood Financial stock.
Norwood Financial Corp (NASDAQ: NWFL) is a prominent U.S.-based bank holding company founded in 1871 in Honesdale, Pennsylvania. The company operates through its primary subsidiary, Wayne Bank, which services customers with a network of 26 community offices spread across Wayne, Pike, Monroe, and Lackawanna counties in Pennsylvania, as well as Delaware and Sullivan counties in New York State.
Wayne Bank offers a comprehensive range of financial services, including personal and business credit services, trust and investment products, and real estate settlement services. It also manages automated teller machines (ATMs) at various branch locations, ensuring convenient access to banking services for its customers.
Norwood Financial Corp has consistently demonstrated robust financial performance. As of June 30, 2023, the company reported total assets of $2.142 billion, loans receivable of $1.578 billion, total deposits of $1.732 billion, and stockholders’ equity of $173.4 million. Despite the challenges posed by increasing borrowing costs and reduced net interest income, Norwood Financial Corp has maintained solid growth and financial stability.
Under the leadership of Mr. Donnelly, the company has seen notable loan growth, with a 10.9% annual increase during the second quarter of 2023. However, total deposits decreased by $27.2 million due to significant reductions in municipal account balances. The company’s operating expenses remain well-controlled, and it continues to maintain a strong capital base that exceeds 'Well-Capitalized' targets.
Norwood Financial Corp also emphasizes excellent credit quality metrics, which have remained strong and are expected to benefit future performance. The company is committed to serving its customers and stockholders, with continuous efforts to identify new opportunities and enhance customer service across Wayne Bank locations, including the Bank of the Finger Lakes and Bank of Cooperstown.
As a publicly traded company on the NASDAQ Global Market under the symbol NWFL, Norwood Financial Corp remains a significant player in the regional banking sector. The company’s forward-looking statements, as stipulated by the Private Securities Litigation Reform Act of 1995, highlight its focus on adapting to changing economic conditions, maintaining strong credit quality, and managing core operating expenses.
FAQ
What is the current stock price of Norwood Financial (NWFL)?
What is the market cap of Norwood Financial (NWFL)?
What does Norwood Financial Corp do?
Where is Norwood Financial Corp headquartered?
Which areas do Wayne Bank's community offices serve?
What was Norwood Financial Corp’s total assets as of June 30, 2023?
What is the trading symbol for Norwood Financial Corp on the NASDAQ?
How did Norwood Financial Corp perform in terms of net interest income in recent quarters?
Who is the subsidiary of Norwood Financial Corp?
How many community offices does Wayne Bank operate?
What was the loan growth rate for Norwood Financial Corp in the second quarter of 2023?
What is the focus of Norwood Financial Corp’s forward-looking statements?
