NORWOOD FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 14, 2024
NWFL$35.68-0.5%Stored close · as of Nov 6, 2026
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Item 6. Selected Financial Data
| For the years ended December 31, | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Net interest income | $62,067 | $68,397 | $65,313 | $50,476 | $38,606 |
| Provision for credit losses | 5,548 | 900 | 4,200 | 5,450 | 1,250 |
| Other income | 8,270 | 9,926 | 8,056 | 7,182 | 6,355 |
| Net realized (losses) gains on sales of loans and securities | (146) | 6 | 269 | 598 | 423 |
| Other expenses | 43,497 | 41,044 | 38,578 | 34,440 | 27,311 |
| Income before income taxes | 21,146 | 36,385 | 30,860 | 18,366 | 16,823 |
| Income tax expense | 4,387 | 7,152 | 5,945 | 3,286 | 2,608 |
| NET INCOME | 16,759 | 29,233 | 24,915 | 15,080 | 14,215 |
| Net income per share-Basic | $2.08 | $3.59 | $3.05 | $2.09 | $2.27 |
| -Diluted | $2.07 | $3.58 | $3.04 | $2.09 | $2.25 |
| Cash dividends declared | $1.17 | $1.13 | $1.06 | $1.01 | $0.97 |
| Dividend pay-out ratio | 56.25% | 31.48% | 34.75% | 48.33% | 42.73% |
| Return on average assets | 0.79% | 1.43% | 1.24% | 0.97% | 1.18% |
| Return on average equity | 9.67% | 16.11% | 12.35% | 9.06% | 10.83% |
| BALANCES AT YEAR-END | |||||
| Total assets | 2,201,079 | 2,047,070 | 2,068,504 | 1,851,864 | 1,230,610 |
| Loans receivable | 1,603,618 | 1,473,945 | 1,354,931 | 1,410,732 | 924,581 |
| Allowance for credit losses | 18,968 | 16,999 | 16,442 | 13,150 | 8,509 |
| Total deposits | 1,795,159 | 1,727,727 | 1,756,793 | 1,535,385 | 957,529 |
| Stockholders’ equity | 181,070 | 167,085 | 205,262 | 194,785 | 137,428 |
| Trust assets under management | 192,374 | 184,855 | 195,958 | 168,085 | 170,685 |
| Book value per share | $22.99 | $20.86 | $25.24 | $23.72 | $21.67 |
| Tier 1 Capital to risk-adjusted assets | 11.99% | 12.49% | 12.49% | 11.65% | 13.08% |
| Total Capital to risk-adjusted assets | 13.06% | 13.58% | 13.66% | 12.62% | 13.98% |
| Allowance for credit losses to total loans | 1.18% | 1.15% | 1.21% | 0.93% | 0.92% |
| Non-performing assets to total assets | 0.35% | 0.07% | 0.12% | 0.24% | 0.19% |
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