Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 250

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 250
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ger (the ‘Merger Agreement’) with Norwood Financial Corp, a Pennsylvania corporation (“Norwood”) and its wholly owned subsidiary, Wayne Bank. Pursuant to the terms and conditions set forth in the Merger Agreement, the Company will merge with and into Norwood (the “Merger”), with Norwood surviving, and the Bank will merge with and into Wayne Bank, with Wayne Bank as the surviving bank (the ‘Bank Merger’). At the effective time of the Merger, each outstanding share of Company common stock will be converted into the right to receive, at the election of such holder, either (i) 0.7850 shares of Norwood common stock, or (ii) $19.75 in cash, together with cash in lieu of fractional shares, if any. All such elections are subject to adjustment on a pro rata basis, so that 80% of the aggregate merger consideration paid to the Company stockholders will be the stock consideration and the remaining 20% will be the cash consideration. The completion of the Merger and the Bank Merger are subject to customary closing conditions, including approval by the Company’s stockholders and the receipt of any required regulatory approvals from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Pennsylvania Department of Banking and Securities. The Merger is expected to close in the fourth quarter of 2025 or early in the first quarter of 2026. F-68

Annex A

AGREEMENT AND PLAN OF MERGER

BY AND AMONG

NORWOOD FINANCIAL CORP,

WAYNE BANK,

PB BANKSHARES, INC.

AND

PRESENCE BANK

Dated as of July 7, 2025

TABLE OF CONTENTS

| Article 1 - THE MERGER                                                     |     |                                                            |     | A-2  |
| Section 1.1                                                                |     | Consummation of Merger; Closing Date                       |     | A-2  |
| Section 1.2                                                                |     | Effect of Merger                                           |     | A-2  |
| Section 1.3                                                                |     | Further Assurances                                         |     | A-3  |
| Section 1.4                                                                |     | Directors and Officers                                     |     | A-3  |
| Section 1.5                                                                |     | Tax Consequences                                           |     | A-3  |
| Section 1.6                                                                |     | Bank Merger