Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 54

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 54
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 statement/prospectus contains a number of forward-looking statements, including statements about the financial conditions, results of operations, earnings outlook and prospects of Norwood, PB Bankshares and the potential combined company and may include statements for the period following the completion of the merger. Forward-looking statements are typically identified by words such as “should,” “likely,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “target,” “project,” “goal”, “could” and other similar words and expressions. The forward-looking statements involve certain risks and uncertainties. The ability of either Norwood or PB Bankshares to predict results or the actual effects of its plans and strategies, or those of the combined company, is subject to inherent uncertainty. Factors that may cause actual results or earnings to differ materially from such forward looking statements include those set forth on page 16 under “ Risk Factors, “ and, among others, the following:

| • |     | completion of the merger is dependent on, among other things, receipt of shareholder and regulatory approvals, 
 the timing of which cannot be predicted with precision, and which may not be received at all;                  |

| • |     | the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or 
 events;                                                                                                       |

32

| • |     | the integration of PB Bankshares’s business and operations with those of Norwood may take longer than                                                     
 anticipated, may be more costly than anticipated and may have unanticipated adverse results relating to PB Bankshares’s or Norwood’s existing businesses; |

| • |     | the anticipated cost savings and other synergies of the merger may take longer to be realized or may not be                                   
 achieved in their entirety, and attrition in key client, partner and other relationships relating to the merger may be greater than expected; |

| • |     | the ability to achieve anticipated merger-related operational efficiencies; |

| • |     | the ability to enhance revenue through increased market penetration, expanded lending capacity and product 
 offerings;                                                                                                 |

| • |     | changes in monetary and fiscal policies of the Federal Reserve Board and the U. S. Government, particularly 
 related to changes in interest rates;                                                                       |

| • |     | changes in general economic conditions, especially the effects of current fluctuations in tariff policies,                                                                                                       
 impacts of workforce deportations, the proliferation of legal actions challenging government policies, and substantial reductions in force of government