Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 220

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 220
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 the likelihood that cash flow shortages, adverse economic conditions, and negative trends may result in a payment default in the near future. No loans were modified during the years ended December 31, 2024 and 2023 to borrowers experiencing financial difficulty. The Company closely monitors the performance of modified loans to understand the effectiveness of its modification efforts. Upon the determination that all or a portion of a modified loan is uncollectible, that amount is charged against the allowance for credit losses. F-24

PB BANKSHARES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS At December 31, 2024 and 2023, there was no other real estate owned. There was no real estate in process of foreclosure as of December 31, 2024 and 2023. 4. Premises and Equipment Premises and equipment are composed of the following at December 31 (in thousands):

| Premises:                                 |     | Estimated    
 Useful Lives |              |     | 2024 |        |   |     | 2023 |        |   |
|:------------------------------------------|:----|:-------------|:-------------|:----|:-----|-------:|:--|:----|:-----|-------:|:--|
| Land                                      |     |              | Indefinite   |     | $    |    428 |   |     | $    |    528 |   |
| Building and improvements                 |     |              | 5 - 40 years |     |      |  1,732 |   |     |      |  2,141 |   |
| Furniture and equipment                   |     |              | 3 - 10 years |     |      |  2,685 |   |     |      |  2,499 |   |
|                                           |     |              |              |     |      |  4,845 |   |     |      |  5,168 |   |
| Accumulated depreciation and amortization |     |              |              |     |      | (2,766 | ) |     |      | (3,111 | ) |
|                                           |     |              |              |     | $    |  2,079 |   |     | $    |  2,057 |   |

Depreciation and amortization expense charged to operations amounted to approximately $224,000 and $225,000 for the years ended December 31, 2024