Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 187

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 187
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 and diluted earnings
per share of Norwood common stock is based on the pro forma combined net income per common share for PB Bankshares and Norwood divided by the pro forma basic or diluted common shares of the combined entities for the periods presented on such
statements of income. The pro forma information includes adjustments related to the fair value of assets and liabilities of PB Bankshares and is subject to adjustment as additional information becomes available and as final merger date analyses are
performed. The pro forma combined balance sheet and book value per share data includes the adjustment to reflect the accrual of one-time merger-related charges for Norwood and PB Bankshares: (a) Norwood pre-tax charges are estimated at $6.0 million ($4.8 million after-tax) and are included as a pro forma liability accrual with the
after-tax cost as reduction to retained earnings, and (b) PB Bankshares pre-tax charges are estimated at $1.1 million ($1.0 million after-tax) and are included as a pro forma fair value liability accrual The pro forma statements of income does include an accrual for one-time merger related charges of
$6.0 million. The pro forma combined book value per share of Norwood common stock is based on the pro forma combined common stockholders’ equity of PB Bankshares and Norwood divided by total pro forma common shares of the combined
entities.

The unaudited pro forma data are qualified by the statements set forth under this caption and should not be considered indicative of the market value of Norwood common stock or the actual or future results of operations of Norwood for any period. Actual results may be materially different than the pro forma information presented.

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Norwood Financial Corp. Unaudited Combined Pro Forma Balance Sheets as of June 30, 2025 ($ In thousands, except per share data)

| Assets                                     |     | Norwood Financial 
 Corp.             |           |   |     | PB Bankshares, 
 Inc.           |           |   |     | Transaction 
 Accounting  
 Adjustments |            |              |     | Pro Forma 
 Combined  |            |   |
|:-------------------------------------------|:----|:------------------|----------:|:--|:----|:---------------|----------:|:--|:----|:------------|-----------:|-------------:|:----|:----------|-----------:|:--|
| Cash and due from banks                    |     | $                 |    32,052 |   |