Norwood Financial Corp. Files Q3 2024 10-Q
Ticker: NWFL · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1013272
| Field | Detail |
|---|---|
| Company | Norwood Financial Corp (NWFL) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.10, $000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, commercial-bank
Related Tickers: NWFL
TL;DR
NWFL 10-Q filed for Q3 2024 - check financials.
AI Summary
Norwood Financial Corp. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and position for the third quarter and the first nine months of the year. Key financial data and disclosures relevant to investors and stakeholders are presented.
Why It Matters
This filing provides crucial insights into Norwood Financial Corp.'s financial health and operational performance during the third quarter of 2024, impacting investor decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant negative events indicated.
Key Numbers
- Q3 2024 — Reporting Period (Financials for the third quarter of 2024 are detailed.)
- 2024-09-30 — Balance Sheet Date (Financial position as of this date is reported.)
Key Players & Entities
- NORWOOD FINANCIAL CORP (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-07 (date) — Filing date
- PA (location) — State of incorporation and business address
- HONESDALE (location) — City of business address
FAQ
What were the key financial highlights for Norwood Financial Corp. in Q3 2024?
The 10-Q filing for the period ending September 30, 2024, provides detailed financial statements and disclosures, but specific Q3 financial highlights like net income or revenue growth are not explicitly summarized in the provided header information.
What is Norwood Financial Corp.'s primary business activity?
Norwood Financial Corp. is classified under 'Commercial Banks' with SIC code 6022.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on November 7, 2024.
What is the fiscal year end for Norwood Financial Corp.?
The fiscal year end for Norwood Financial Corp. is December 31.
Where is Norwood Financial Corp. headquartered?
Norwood Financial Corp.'s business address is located at 717 Main St, Honesdale, PA 18431.
Filing Stats: 4,453 words · 18 min read · ~15 pages · Grade level 18.2 · Accepted 2024-11-07 09:14:51
Key Financial Figures
- $0.10 — ch registered Common Stock, par value $0.10 per share NWFL The Nasdaq Stock Mar
- $000 — tions Per Share Contractual Term ($000) Outstanding at January 1, 2024 215
Filing Documents
- nwfl-20240930x10q.htm (10-Q) — 10323KB
- nwfl-20240930xex31_1.htm (EX-31.1) — 17KB
- nwfl-20240930xex31_2.htm (EX-31.2) — 18KB
- nwfl-20240930xex32.htm (EX-32) — 13KB
- 0001562762-24-000265.txt ( ) — 40714KB
- nwfl-20240930.xsd (EX-101.SCH) — 46KB
- nwfl-20240930_cal.xml (EX-101.CAL) — 104KB
- nwfl-20240930_def.xml (EX-101.DEF) — 263KB
- nwfl-20240930_lab.xml (EX-101.LAB) — 474KB
- nwfl-20240930_pre.xml (EX-101.PRE) — 482KB
- nwfl-20240930x10q_htm.xml (XML) — 13627KB
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 47 Item 4.
Controls and Procedures
Controls and Procedures 50 PART II - OTHER INFORMATION 51 Item 1.
Legal Proceedings
Legal Proceedings 51 Item 1A.
Risk Factors
Risk Factors 51 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 51 Item 6. Exhibits 53
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements NORWOOD FINANCIAL CORP Consolidated Balance Sheets ( unaudited) (dollars in thousands, except share and per share data) September 30, December 31, 2024 2023 ASSETS Cash and due from banks $ 47,072 $ 28,533 Interest-bearing deposits with banks 35,808 37,587 Cash and cash equivalents 82,880 66,120 Securities available for sale, at fair value (net of allowance for credit losses of $ 0 ) 396,891 406,259 Loans receivable (net of allowance for credit losses of $ 18,699 and $ 18,968 ) 1,656,440 1,584,650 Regulatory stock, at cost 6,329 7,318 Bank premises and equipment, net 18,503 17,838 Bank owned life insurance 46,382 46,439 Accrued interest receivable 8,062 8,123 Foreclosed real estate owned — 97 Deferred tax assets, net 18,818 21,353 Goodwill 29,266 29,266 Other intangibles 167 221 Other assets 16,013 13,395 TOTAL ASSETS $ 2,279,751 $ 2,201,079 LIABILITIES Deposits: Non-interest bearing demand $ 420,967 $ 399,545 Interest-bearing 1,434,284 1,395,614 Total deposits 1,855,251 1,795,159 Short-term borrowings 52,453 74,076 Other borrowings 144,959 124,236 Accrued interest payable 12,688 10,510 Other liabilities 18,746 16,028 TOTAL LIABILITIES 2,084,097 2,020,009 STOCKHOLDERS' EQUITY Preferred stock, no par value per share, authorized: 5,000,000 shares; issued: none — — Common stock, $ 0.10 par value per share, authorized: 20,000,000 shares, issued: 2024: 8,311,851 shares, 2023: 8,310,847 shares 831 831 Surplus 98,330 97,700 Retained earnings 140,489 135,284 Treasury stock at cost: 2024: 221,140 shares; 2023: 200,690 shares ( 5,969 ) ( 5,397 ) Accumulated other comprehensive loss ( 38,027 ) ( 47,348 ) TOTAL STOCKHOLDERS' EQUITY 195,654 181,070 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,279,751 $ 2,201,079 See acco