Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 222

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 222
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399 |     |          | 1.83 |   |     |              |  2,713 |     |          | 1.83 |   |
| Total borrowings |     | $            | 42,460 |     |          | 3.39 | % |     | $            | 55,104 |     |          | 3.77 | % |

The Company has an open-ended line of credit (short-term borrowing) of $89,200,000 to obtain advances from the FHLB. Interest on the line of credit is charged at the FHLB’s overnight rate which was 4.71% and 5.68% at December 31, 2024 and 2023, respectively. The Company had no outstanding borrowings under this line of credit at December 31, 2024 and 2023. Maximum borrowing capacity with the FHLB was approximately $179,542,000 and $178,468,000 at December 31, 2024 and 2023, respectively, secured by qualifying loans, of which $42,460,000 and $55,104,000 had been advanced at December 31, 2024 and 2023, respectively, in addition to letters of credit that decrease the Company’s maximum borrowing capacity with the FHLB. The Company had three letters of credit with FHLB for $7,000,000 at December 31, 2024 and three letters of credit with FHLB for $13,850,000 at December 31, 2023 that were pledged to secure public funds. F-27

PB BANKSHARES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 8. Income Taxes The components of income tax expense consisted of the following for the years ended December 31 (in thousands):

|                                |     |   | 2024 |   |     |   | 2023 |   |
|:-------------------------------|:----|:--|-----:|:--|:----|:--|-----:|:--|
| Current tax expense            |     | $ |  561 |   |     | $ |  766 |   |
| Deferred tax expense (benefit) |     |   |  (86 | ) |     |   | (221 | ) |
| Income Tax Expense             |     | $ |  475 |   |     | $ |  545 |