Norwood Financial

Norwood Financial Corp. is a bank holding company, which offers financial services and traditional banking to individual, business and government customers. It offers debit cards, savings accounts, personal loans, credit card, business lending, and wealth management. The company was founded in 1870 and is headquartered in Honesdale, PA.

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All stocks have at least five fiscal years of dividend growth history and come from the U.S. Dividend Champions List. They have an average increase of 7.4% and a median increase of 6.1%.

8 Upcoming Dividend Increases, Including A Dividend King

Norwood Financial is a Pennsylvania and New York focused bank. The earnings are strong, and loan losses are very low.

Norwood Financial Lost 25% Of Its Tangible Book Value, But There's No Reason To Panic

HONESDALE, Pa., Dec. 16, 2022 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL), and its subsidiary Wayne Bank, announced that the Board of Directors declared a $0.29 per share quarterly dividend, payable February 1, 2023, to shareholders of record as of January 13, 2023. The $0.29 per share represents an increase of 3.6% over the cash dividend declared in the third quarter of this year and the fourth quarter of 2021. During 2022, total cash dividends declared were $1.13 per share, compared to the $1.06 per share declared in 2021.

Norwood Financial Corp Increases Cash Dividend

Norwood Financial reported excellent results in the first quarter and remains firmly on track to report in excess of $3/share in earnings this year. The share price has likely been held back by the decreasing book value per share.

Norwood Financial: The Book Value Gets Hit Despite Good Results

HONESDALE, Pa., May 03, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Norwood Financial Corp (NASDAQ Global Market – NWFL) and its subsidiary, Wayne Bank, announced the appointment of Lewis J. Critelli as Chairman of the Board of Norwood and Wayne Bank.

Norwood Financial Corp and Wayne Bank Appoint Lewis J. Critelli as Chairman

HONESDALE, Penn., April 29, 2022 (GLOBE NEWSWIRE) -- The 151st Annual Meeting of Stockholders of Norwood Financial Corp (Nasdaq-NWFL), parent company of Wayne Bank, was held on Tuesday, April 26, 2022, in a virtual meeting format.

Norwood Financial Corp Holds Annual Meeting of Stockholders

HONESDALE, Penn., April 26, 2022 (GLOBE NEWSWIRE) -- William W. Davis, Jr. has announced he is going to retire from the Board of Directors of Norwood Financial Corp (the “Company”) (Nasdaq Global Market – NWFL) and its wholly owned subsidiary, Wayne Bank, effective as of the Company's Annual Meeting of Stockholders to be held on April 26, 2022. Mr. Davis is expected to be appointed as Director Emeritus following his retirement from the Boards.

William W. Davis, Jr. to Retire as Board Chairman of Norwood Financial Corp and Wayne Bank

HONESDALE, Pa., April 18, 2022 (GLOBE NEWSWIRE) -- Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market – NWFL) and its subsidiary, Wayne Bank, announced record earnings of $7,128,000 for the three months ended March 31, 2022, an increase of 28.6% from the $5,542,000 earned during the corresponding period of 2021. The increase includes a $1,200,000 decrease in the provision for loan losses and a $1,349,000 increase in other income. Earnings per share on a fully diluted basis were $0.87 for the three-month period ended March 31, 2022, compared to $0.67 in the three-month period ended March 31, 2021. The annualized return on average assets was 1.39% in the first quarter of 2022 and the annualized return on average equity was 14.22%, compared to 1.18% and 11.39%, respectively, in the first quarter of 2021.

Norwood Financial Corp Announces First Quarter Earnings

Norwood Financial is the holding company for the Wayne Bank, a community bank in Pennsylvania and New York.

Norwood Financial: A 4% Yield With A Sub-40% Payout Ratio

HONESDALE, Pa., March 28, 2022 (GLOBE NEWSWIRE) -- On March 28, 2022, Norwood Financial Corp (the “Company”) (NASDAQ Global Market: NWFL) announced that James O. Donnelly had accepted an offer (the “Offer”) to become President and Chief Executive Officer of the Company, and its wholly owned subsidiary, Wayne Bank (the “Bank”), effective upon his first day of employment with the Company, anticipated to be in early May, 2022. Following his appointment as President and Chief Executive Officer, he will also be appointed as a member of the Board of Directors of the Company and the Bank (the “Board”). Mr. Lewis J. Critelli, current President and Chief Executive Officer of the Company and Bank previously announced his intention to retire during the first half of 2022, subject to the successful completion of a search process for a successor. Mr. Critelli intends to continue serving as a director of the Company and Bank upon his retirement as Chief Executive Officer.

Norwood Financial Corp and Wayne Bank Announce New President and Chief Executive Officer

HONESDALE, Pa., Jan. 28, 2022 (GLOBE NEWSWIRE) -- Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (Nasdaq Global Market – NWFL), and its subsidiary Wayne Bank, announced earnings for the three months ended December 31, 2021 of $6,638,000 compared to $5,513,000 earned in the corresponding period of 2020. The increase in earnings includes a $1,150,000 reduction in the provision for loan losses, and an $882,000 increase in net interest income. For the year ended December 31, 2021, net income totaled $24,915,000, an increase of $9,835,000 from net income of $15,080,000 earned in the prior year. The increase includes the benefits derived from the Company's acquisition of UpState New York Bancorp, Inc. (“UpState”), which closed on July 7, 2020, and over $4.5 million of earnings recognized from Paycheck Protection Program (“PPP”) loans.

Norwood Financial Corp Announces Earnings for the Fourth Quarter and Year

HONESDALE, Pa., Nov. 15, 2021 (GLOBE NEWSWIRE) -- On November 15, 2021, Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (the “Company”) (NASDAQ Global Market: NWFL), and its wholly owned subsidiary, Wayne Bank (“Bank”), announced his plans to retire as the President and Chief Executive Officer of the Company and the Bank during the first half of 2022, subject to the successful completion of a search process for a successor. Mr. Critelli joined the Bank in 1995 as Chief Financial Officer and has served as the President and Chief Executive Officer for both the Company and the Bank since 2010. Under his leadership, the Company had three successful acquisitions and expanded into new markets in Pennsylvania and Upstate New York. The Company's total assets increased from $529 million to over $2 billion as of September 30, 2021.

Norwood Financial Corp Announces Planned Retirement of President and Chief Executive Officer Lewis J. Critelli

Norwood Financial Corp. is a regional bank with healthy and stable operations. Market expansion and acquisition will lead to more growth opportunities.

Norwood Financial Corp.: There Is No Reason To Dislike This One

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In August, my wife and I received a total of $1,307.71 of dividend income. We crossed one thousand dollars again in an off-month. Another strong month of dividend income, and the 4-digit mark is becoming more and more consistent. Despite the pandemic from COVID-19, dividend income continues to grow, due primarily to additional investment and reinvestment. During the month of August, my wife and I actually invested over $4,500+ into dividend-producing stocks!

Dividend Income Summary: Lanny's August 2021 Summary

Norwood Financial (Wayne Bank) has seen a fair amount of obstacles over the last 18 months. While big banks and regional banks have seen their shares rebound back to - or past - pre-pandemic levels, Wayne Bank is still ~25% off its highs in January 2020.

Norwood Financial Is A Compelling Buy

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In May, we received $581.67 in dividend income! This was a 32.19% year over year increase compared to May 2020. Until the dividend cut is finalized, we are still receiving a boatload of dividend income from AT&T.

Dividend Income Summary: Bert's May 2021 Summary

HONESDALE, Pa., March 30, 2021 (GLOBE NEWSWIRE) -- Norwood Financial Corp (the “Company”) (NASDAQ Global Market NWFL) today announced the initiation of a stock repurchase program under which the Company may repurchase up to 5% of the Company's outstanding shares of common stock, or approximately 400,000 shares, in the open market, in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by management. The repurchase program may be suspended or discontinued at any time. Lewis J. Critelli, President and Chief Executive Officer of the Company, stated that, "we believe, at appropriate levels, the repurchase of shares of our common stock is a proper use of our capital. Our repurchase program could potentially enhance shareholder value in the Company by increasing return on equity and net income per share.” The Company expects to appoint Boenning & Scattergood, Inc. as its independent repurchasing agent to repurchase shares of its common stock on its behalf.

Norwood Financial Corp Announces Stock Repurchase Program

Norwood Financial is active in Pennsylvania and New York, and about two-thirds of its loan book consist of real estate loans. In excess of 99% of the loans were marked as "current" as of the end of September.

Norwood Financial: A Strong Focus On Real Estate Loans And A 4% Dividend Yield

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Growing your dividend income takes time and consistency. In December, we (my wife and I) received a total of $5,483.32 of dividend income.

Dividend Income Summary: Lanny's December 2020 Summary

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All stocks have at least five fiscal years of dividend growth history and come from the U.S. Dividend Champions List. An average increase of 8.4% and a median increase of 6.6%.

8 Dividend Increases To Start 2021

HONESDALE, Pa., July  07, 2020  (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ Global Market: NWFL) (“Norwood”), the holding company for Wayne Bank, announced today that that it had completed its acquisition of UpState New York Bancorp, Inc. (“UpState”) and its wholly-owned subsidiary, USNY Bank effective as of July 7, 2020. USNY Bank has been merged into Wayne Bank. At their election, UpState shareholders are receiving either $33.33 in cash or 0.9390 shares of Norwood common stock for each share of UpState common stock held subject to the allocation and proration procedures set forth in the Merger Agreement. In addition, under the terms of the Merger Agreement, UpState shareholders will receive an additional $0.67 per share in cash for each share of UpState common stock held. In lieu of fractional shares of Norwood common stock, UpState shareholders will receive cash at the rate of approximately $24.02 per share of Norwood common stock. Shareholders who have not previously surrendered their share certificates will receive information shortly on how to exchange their shares for the merger consideration to which they are entitled.

Norwood Financial Corp Completes Acquisition of UpState New York Bancorp, Inc.

HONESDALE, Pa., July  01, 2020  (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ Global Market: NWFL), the holding company for Wayne Bank headquartered in Honesdale, Pennsylvania, announced today that the closing of the previously announced proposed acquisition of UpState New York Bancorp, Inc. (“UpState”) and its wholly owned subsidiary, USNY Bank, will be delayed, and is now anticipated to occur on or about July 7, 2020, subject to the satisfaction of customary closing conditions. 

Norwood Financial Corp Announces New Closing Date for Its Acquisition of UpState New York Bancorp, Inc.

HONESDALE, Pa., June  10, 2020  (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ Global Market: NWFL), the holding company for Wayne Bank headquartered in Honesdale, Pennsylvania, announced that it had received final regulatory approvals for its proposed acquisition of UpState New York Bancorp, Inc. (“UpState”) and its wholly owned subsidiary, USNY Bank.  Subject to the satisfaction of customary closing conditions, Norwood anticipates closing the acquisition on or about July 1, 2020.

Norwood Financial Corp Announces Receipt of Regulatory Approvals for Acquisition of UpState New York Bancorp, Inc.

HONESDALE, Pa. and GENEVA, N.Y., May  29, 2020  (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ: NWFL) ("Norwood"), the holding company for Wayne Bank, Honesdale, Pennsylvania and UpState New York Bancorp, Inc. ("UpState"), the holding company for USNY Bank, Geneva, New York, announced today that the parties to the merger agreement have mutually agreed to extend the deadline by which stockholders of UpState must properly submit election materials (the “Election Deadline”) to Computershare Trust Company, N.A., the exchange agent for the merger.  Due to disruptions and delays in the collection and distribution of election materials resulting from the COVID-19 pandemic, the Election Deadline, which originally was 5:00 p.m., local time, on May 26, 2020, has been extended to 5:00 p.m., local time, on June 22, 2020. 

Norwood Financial Corp. Announces Extension of UpState New York Bancorp, Inc.

HONESDALE, Pa. and GENEVA, N.Y., May  27, 2020  (GLOBE NEWSWIRE) -- Norwood Financial Corp (NASDAQ: NWFL) ("Norwood"), the holding company for Wayne Bank, Honesdale, Pennsylvania and UpState New York Bancorp, Inc. ("UpState"), the holding company for USNY Bank, Geneva, New York, jointly announced that the shareholders of both companies overwhelmingly approved the previously announced proposed merger of UpState with and into Norwood at their respective shareholder meetings held on May 26, 2020.  Norwood shareholders also elected Joseph W. Adams, Kevin M. Lamont and Dr. Kenneth A. Phillips as directors of Norwood each for a three-year term, ratified the appointment of S.R. Snodgrass, P.C. as independent auditors for the fiscal year ending December 31, 2020 and approved a non-binding advisory resolution on executive compensation.

Norwood Financial Corp and UpState New York Bancorp, Inc. Announce Receipt of Shareholder Approvals of Proposed Merger

News for Norwood Financial Stock (NWFL)