Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 56

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 56
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 financial services in our market area; |

| • |     | increased competition from other banks and non-bank providers of 
 financial services;                                              |

| • |     | technological changes and increased technology-related costs; and |

| • |     | changes in accounting principles, or the application of generally accepted accounting principles. |

Because these forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this proxy statement/prospectus or the date of any document incorporated by reference in this proxy statement/prospectus. All subsequent written and oral forward looking statements concerning the merger or other matters addressed in this document and attributable to Norwood or PB Bankshares or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this document. Except to the extent required by applicable law or regulation, Norwood and PB Bankshares undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this proxy statement/prospectus or to reflect the occurrence of unanticipated events. 33

TRADING MARKET FOR NORWOOD AND PB BANKSHARES Norwood.Norwood’s common stock is traded on the NASDAQ Global Market under the symbol “NWFL”. The most recent trading price for Norwood’s common stock reported by NASDAQ was $[●] per share on, 2025. Upon the effectiveness of the registration statement of which this document is a part, the shares issued in connection with the merger will be freely transferable under the Securities Act by holders who will not be affiliates of Norwood after the merger. Affiliates of Norwood may resell shares of Norwood common stock issued in connection with the merger only if the shares are registered for resale under the Securities Act or an exemption is available. They may resell under the safe harbor provisions of Rule 144 under the Securities Act or as otherwise permitted under the Securities Act. We encourage any such person to obtain advice of securities counsel before reselling any Norwood common stock. PB Bankshares.PB Bankshares’ common stock is traded on the NASDAQ Capital Market under the symbol “PBBK”. The most recent trading price for PB Bankshares’ common stock reported by NASDAQ was $[●] per share on, 2025. As of October 6, 2025, PB Bankshares had approximately 168 stockholders of