Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 214

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 214
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998 |     | $          | (1 | ) |     | $                 | 19,862 |     | $          | (1,383 | ) |     | $          | 21,860 |     | $          | (1,384 | ) |
| Collateralized mortgage obligations |     |                     |     — |     |            | —  |   |     |                   |  2,388 |     |            | (228   | ) |     |            |  2,388 |     |            | (228   | ) |
| Total                               |     | $                   | 1,998 |     | $          | (1 | ) |     | $                 | 22,250 |     | $          | (1,611 | ) |     | $          | 24,248 |     | $          | (1,612 | ) |

As of December 31, 2024 and 2023, the mortgage-backed securities and collateralized mortgage obligations included in the securities portfolio consist of securities issued by U.S. government sponsored agencies. There were no private label mortgage-backed securities held in the securities portfolio as of December 31, 2024 and 2023. At December 31, 2024, 46 agency bonds had an unrealized loss of 2.81% from the Company’s cost basis, one corporate bond had an unrealized loss of 2.67% from the Company’s cost basis, two mortgage-backed securities had an unrealized loss 2.06% from the Company’s cost basis and 33 collateralized mortgage obligation had an unrealized loss of 8.70% from the Company’s cost basis. At December 31, 2023, 49 agency bonds had an unrealized loss of 6.00% from the Company’s cost basis and 33 collateralized mortgage obligation had an unrealized loss of 8.73% from the Company’s cost basis. In analyzing an issuer’s financial condition, management considers whether downgrades by bond rating agencies have occurred and industry analysts’ reports. As of December 31, 2024 and 2023, management believes that the estimated fair value of securities disclosed above is primarily dependent upon the movement in market interest rates particularly given the negligible inherent credit risk associated with these securities. Although the fair value will fluctuate as the market interest F-16

PB BANKSHARES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS rates move