Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 5

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 5
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QUESTIONS AND ANSWERS The following are answers to certain questions that you may have regarding the merger and the PB Bankshares special meeting. We urge you to read carefully the remainder of this proxy statement/prospectus because the information in this section may not provide all the information that might be important to you in determining how to vote. Additional important information is also contained in documents incorporated by reference into this proxy statement/prospectus and in the annexes to this proxy statement/prospectus.

| Q: | Why am I receiving this document? |

A: Norwood and PB Bankshares have agreed to combine under the terms of a merger agreement that is described in this proxy statement/prospectus. A copy of the merger agreement is attached to this proxy statement/prospectus as Annex A. In order to complete the merger, PB Bankshares shareholders must vote to approve the merger agreement and the merger. PB Bankshares is holding a special meeting of shareholders to obtain this approval. This proxy statement/prospectus contains important information about the merger, the merger agreement, the special meeting, and other related matters, and you should read it carefully.

| Q: | What will happen to PB Bankshares as a result of the merger? |

A: If the merger is completed, PB Bankshares will merge with and into Norwood and its separate corporate existence will end. In addition, immediately following the merger, Presence Bank will merge with and into Wayne Bank, with Wayne Bank being the surviving bank.

| Q: | What will PB Bankshares shareholders receive in the merger? |

A: If the merger agreement is approved and the merger is subsequently completed, each outstanding share of PB Bankshares common stock will be converted into the right to receive either:

| • |     | $19.75 in cash, without interest, which we refer to as the “cash consideration”; or |

| • |     | 0.7850 of a share of Norwood common stock, which we refer to as the “stock consideration,” |

in each case, subject to adjustment, election and allocation procedures specified in the merger agreement. PB Bankshares shareholders may elect to receive the cash consideration for some or all of their PB Bankshares common stock or the stock consideration for some or all of their shares of PB Bankshares common stock, or make no election at all. Elections will be subject to adjustment, election and allocation procedures specified in the merger agreement. The ability to receive all cash or all stock that has been elected may depend on the elections of other PB Bankshares