Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 176

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 176
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 be certain of the actual timing. Conditions to Completing the Merger Completion of the merger depends on a number of conditions being satisfied or waived, including the following:

| • |     | approval of the merger agreement by the requisite vote of shareholders of PB Bankshares; |

| • |     | receipt of all required regulatory approvals, the expiration of all statutory waiting periods and the   
 satisfaction of all conditions to the consummation of the merger set forth in the regulatory approvals; |

| • |     | there shall be no pending causes of action, investigations or proceedings (1) challenging the validity or                                                                                                                                      
 legality of the merger agreement or the consummation of the merger, or (2) seeking damages in connection with the merger, or (3) seeking to restrain or invalidate the merger; unless actual or threatened causes of action, investigations or 
 proceedings would not have a material adverse effect with respect to the interests of Norwood or PB Bankshares, as the case may be;                                                                                                            |

| • |     | no judgment, order, injunction or decree issued by any court or agency of competent jurisdiction or other legal 
 restraints or prohibition preventing the completion of the merger shall be in effect;                           |

| • |     | no statute, rule, regulation, order, injunction or decree shall have been enacted, entered, promulgated or      
 enforced by a regulatory authority that prohibits, restraints, or makes illegal the consummation of the merger; |

| • |     | Norwood’s registration statement of which this proxy statement/prospectus is a part shall have been 
 declared effective by the Securities and Exchange Commission;                                       |

| • |     | the shares of Norwood common stock shall have been approved for listing on the NASDAQ, subject to official notice 
 of issuance;                                                                                                      |

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| • |     | Norwood and PB Bankshares shall have received opinions from their respective legal counsel to the effect that the 
 merger qualifies as a tax-free reorganization within the meaning of Section 368(a) of the Internal Revenue Code;  |

| • |     | the other party having performed in all material respects its obligations under the merger agreement and the                         
 other party’s representations and warranties being true and correct in all material respects as of the effective time of the merger; |

| • |     | Norwood and PB Bankshares shall have each delivered to the other a certificate of their Chief Executive Officer                                                                                                                                      
 dated as of the closing date of the merger as to the satisfaction of the closing conditions,