Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 62

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 62
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ading 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 and shortly thereafter established its holding company structure
with PB Bankshares. Presence Bank is a stock savings bank organized under the laws of the Commonwealth of Pennsylvania and is subject to 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. PB Bankshares’ principal sources of revenue emanate from interest earnings on its investment securities and loan portfolios.

PB Bankshares’ principal business consists of attracting retail and commercial deposits from the general public in its market area and
investing those deposits, together with funds generated from operations and borrowings, primarily in commercial real estate loans, commercial and industrial loans, construction, home equity lines of credit and to a lesser extent, one- to four-family residential real estate loans and consumer loans. PB Bankshares also invests in debt securities, which have historically consisted of mortgage-backed securities

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issued by U.S. government sponsored enterprises and U.S. government and agency securities. PB Bankshares offers a variety of deposit accounts, including demand deposit accounts, savings accounts, money market accounts and certificate of deposit accounts. PB Bankshares borrow funds, primarily from the Federal Home Loan Bank of Pittsburgh, to fund its operations as necessary. Competition PB Bankshares faces competition within its market area both in making loans and attracting deposits. PB Bankshares’ market area has a concentration of financial institutions that include large money center and regional banks, community banks and credit unions. It also faces competition from savings institutions, mortgage banking firms and consumer finance companies and, with respect to deposits, from money market funds, brokerage firms, mutual funds and insurance companies. It also competes with fintech and Internet banking companies. Some of PB Bankshares’ competitors offer products and services that it currently does not offer, such as trust services and private banking. Properties