Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 105

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 105
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 |     |                        |  20 |   |     |      |  (79 | ) |     |            |  (59 | ) |
| Savings deposits                   |     |                        |   — |   |     |      |   (1 | ) |     |            |   (1 | ) |
| Money market deposits              |     |                        | (17 | ) |     |      |   (7 | ) |     |            |  (24 | ) |
| Certificates of deposit            |     |                        | 189 |   |     |      | (168 | ) |     |            |   21 |   |
| Total deposits                     |     |                        | 192 |   |     |      | (255 | ) |     |            |  (63 | ) |
| Borrowings                         |     |                        | (66 | ) |     |      |  (31 | ) |     |            |  (97 | ) |
| Total interest-bearing liabilities |     |                        | 126 |   |     |      | (286 | ) |     |            | (160 | ) |
| Change in net interest income      |     | $                      |  46 |   |     | $    |  441 |   |     | $          |  487 |   |

63

Comparison of Operating Results for the Six Months Ended June 30, 2025 and June 30, 2024

General. Net income increased $426,000, or 62.0%, to $1.1 million for the six months ended
June 30, 2025 from $687,000 for the six months ended June 30, 2024. The $426,000 period over period increase in earnings was attributable to a $680,000 increase in interest and dividend income, a $245,000 decrease in interest expense and a
$158,000 increase in noninterest income, partially offset by a $378,000 increase in noninterest expenses, an $168,000 increase in the provision for credit losses and an $111,000 increase in income tax expense.

Interest and dividend income. Total interest and dividend income increased $680,000, or 5.9%, to
$12.2 million for the six months ended June 30, 2025 from $11.5 million for the six months ended June 30, 2024. The increase in interest and dividend income was primarily due