Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 224

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 224
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 $                 | 20,211 |     |       |  6.50 | % |
| Tier 1 capital (to average assets)       |     | $      | 40,276 |     |       |  9.78 | % |     | $           | 16,467 |     |       | 4.00 | % |     |                     |    N/A |     |       |   N/A |   |     | $                 | 20,584 |     |       |  5.00 | % |

14. Earnings Per Common Share The factors used in the earnings per share computation follow (dollars in thousands, except per share data):

|                                               |     |   |      2024 |   |     |   |      2023 |   |
|:----------------------------------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Net income                                    |     | $ |     1,772 |   |     | $ |     1,919 |   |
| Weighted average common shares outstanding    |     |   | 2,503,442 |   |     |   | 2,669,501 |   |
| Less: Average unearned ESOP shares            |     |   |  (188,823 | ) |     |   |  (199,932 | ) |
| Weighted average shares outstanding (basic)   |     |   | 2,314,619 |   |     |   | 2,469,569 |   |
| Dilutive common stock equivalents             |     |   |    22,894 |   |     |   |    18,057 |   |
| Weighted average shares outstanding (diluted) |     |   | 2,337,513 |   |     |   | 2,487,626 |   |
| Basic earnings per common share               |     | $ |      0.77 |   |     | $ |      0.78 |   |
| Diluted earnings per common share             |     | $ |      0.76 |   |     | $ |      0.77 |   |

F-33

PB BANKSHARES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

15. Fair Value of Financial Instruments

The Company groups its assets and liabilities generally measured at fair value in