Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 97

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 97
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 30, 2025 from 5.67% for the three months ended
June 30, 2024 and an increase in the average balance of loans to $352.1 million for the three months ended June 30, 2025 from $344.4 million for the three months ended June 30, 2024. The average yield on loans increased as a
result of the higher interest rate environment. The increase in the average balance of loans was due primarily to an increase in the average balance of commercial real estate loans reflecting our strategy to grow commercial lending.

Interest income on securities and restricted stocks increased $103,000, or 38.6%, to $370,000 for the three months ended June 30, 2025
from $267,000 for the three months ended June 30, 2024. The increase in interest income on debt and equity securities of $113,000 for the three months ended June 30, 2025 from the three months ended June 30, 2024 was due to a 79 basis
points increase in the average yield on debt and equity securities to 3.17% for the three months ended June 30, 2025 from 2.38% for the three months ended June 30, 2024 and an increase in the average balance of debt and equity securities
of $5.1 million, or 14.2%, to $41.4 million for the three months ended June 30, 2025 from $36.2 million for the three months ended June 30, 2024. The increases in the average yield and average balance of debt and equity
securities were primarily due to the purchase of higher yielding securities during 2024 and year to date 2025. Restricted stock dividends are also included in the interest income on securities. Restricted stock dividends decreased $10,000 for the
three months ended June 30, 2025 from the three months ended June 30, 2024 due to a decrease in the average balance of restricted stocks of $333,000, or 13.6%, to $2.1 million for the three months ended June 30, 2025 as compared
to $2.5 million for the three months ended June 30, 2024 and due to a 56 basis points decrease in the average yield on restricted stocks to 8.12% for the three months ended June 30, 2025 from