Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 17

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 17
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 a Maryland corporation, was formed in March 2021 to serve as the bank holding company for Presence Bank. PB Bankshares is a
registered bank holding company. PB Bankshares is subject to comprehensive regulation and examination by the Federal Reserve and the Pennsylvania Department of Banking and Securities.

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PB Bankshares’ common stock is traded on the NASDAQ Capital Market under the trading symbol PBBK. At June 30, 2025, PB Bankshares had total consolidated assets of $464.1 million, total deposits of $363.4 million and total stockholders’ equity of $50.3 million. On July 14, 2021, Presence Bank completed a mutual to stock conversion. Presence Bank is a stock savings bank organized under the laws of the Commonwealth of Pennsylvania and is subject to comprehensive regulation and examination by the FDIC and the Pennsylvania Department of Banking and Securities. Presence Bank operates from four offices and two loan production offices in Chester, Lancaster and Dauphin Counties, Pennsylvania. Presence Bank’s primary market area for deposits includes the communities in which it maintains banking office locations, while its primary lending market area is broader and includes customers in Lebanon, Dauphin and Cumberland Counties in Pennsylvania. Presence Bank a community-oriented bank offering a variety of financial products and services to meet the needs of its customers. The Merger and the Merger Agreement (page 74) The terms and conditions of the merger are contained in the merger agreement, which is attached to this proxy statement/prospectus as Annex A. We encourage you to read this agreement carefully, as it is the legal document that governs the merger. Under the terms of the merger agreement, PB Bankshares will merge with and into Norwood with Norwood as the surviving entity of the merger. Immediately thereafter, Presence Bank will merge with and into Norwood’s wholly owned banking subsidiary, Wayne Bank, with Wayne Bank as the surviving entity of the bank merger. Consideration to be Received in the Merger by PB Bankshares shareholders (page 95) Under the terms of the merger agreement, PB Bankshares shareholders have the opportunity to elect, for each outstanding share of PB Bankshares common stock they own, 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.” |

PB Bankshares shareholders may elect to receive the cash