Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 216

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 216
---
 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 and 2023, respectively. 5. Leases Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of