Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 156

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 156
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 the merger, owned at least 1% (by vote or value) of the outstanding stock of PB Bankshares or securities of PB Bankshares with a tax basis of
$1 million or more.

102

This discussion does not address tax consequences that may vary with, or are contingent upon, individual circumstances. Moreover, it does not address any non-incometax or any foreign, state or local tax consequences of the merger. Tax matters are very complicated, and the tax consequences of the merger to you will depend upon the facts of your particular situation. Accordingly, we strongly urge you to consult with a tax advisor to determine the particular federal, state, local or foreign income or other tax consequences to you of the merger. PB BANKSHARES SHAREHOLDERS ARE URGED TO CONSULT WITH THEIR OWN TAX ADVISORS AS TO THE TAX CONSEQUENCES TO THEM OF THE MERGER IN THEIR PARTICULAR CIRCUMSTANCES, INCLUDING THE APPLICABILITY AND EFFECT OF U.S. FEDERAL INCOME (INCLUDING THE ALTERNATIVE MINIMUM TAX), U.S. FEDERAL ESTATE, STATE, LOCAL, FOREIGN AND OTHER TAX LAWS AND OF CHANGES IN THOSE LAWS. THE SUMMARY SET FORTH ABOVE IS INCLUDED FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSTRUED TO BE, TAX ADVICE TO ANY PARTICULAR PB BANKSHARES SHAREHOLDER. Regulatory Matters Relating to the Merger Consummation of the merger and the bank merger are subject to receipt of certain regulatory approvals. FDIC.Norwood intends to acquire PB Bankshares by way of a merger, whereby PB Bankshares will merge with and into Norwood, with Norwood as the surviving company, and by merging Presence Bank with Wayne Bank. The merger of Presence Bank with and into Wayne Bank is subject to the prior approval of the FDIC under the Bank Merger Act. Wayne Bank has filed an application with the FDIC to obtain prior approval of the merger of Presence Bank with and into Wayne Bank and the application is currently pending .In reviewing applications, the FDIC considers:

| • |     | the effect of the transaction upon competition; |

| • |     | the financial and managerial resources and future prospects of the merging and resulting institutions; |

| • |     | the capital levels of the surviving institution; |

| • |     | the performance of the applicants in helping to meet the credit needs of the relevant communities, including low-and moderate-income neighborhoods; |

| •