Norwood Financial reports record Q2 net income of $9.3M; NIM expands to 3.90%

NORWOOD FINANCIAL CORP

Record net income $9.3M, diluted EPS $0.86 vs $0.67 prior year; record net interest income $26.8M.
Net interest margin (FTE) 3.90%, up 47 bps YoY and 22 bps linked quarter; total assets $2.908B.
Tangible book value per share $22.96, surpassing pre-acquisition value; completed Presence Bancshares integration.
Net charge-offs $1.4M including $729K from a $22M borrower relationship in Chapter 11 bankruptcy.
Nonperforming loans to total loans 1.23%; allowance for credit losses 1.13%.

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