8-K
filed July 26, 2023, 7:59 PM ET
ticker NWFL
CIK 0001013272
earnings
confidence high
sentiment negative
materiality 0.75
Norwood Financial Q2 EPS falls to $0.81; net interest margin shrinks to 3.09%
NORWOOD FINANCIAL CORP
2023-Q2 EPS reported
$1.51
revenue$3,402,000
- Net income $6.503M ($0.81 diluted EPS) vs $6.855M ($0.84) in Q2 2022, down $352K.
- Net interest margin (fte) 3.09% vs 3.49% YoY; cost of interest-bearing liabilities up 167 bps to 2.01%.
- Provision for credit losses decreased $2.05M from prior year, benefiting from CECL methodology.
- Other income fell $706K to $1.783M, including a $212K loss on sale of investment securities.
- Loan growth 10.9% annualized in Q2; total deposits decreased $27.2M, primarily municipal accounts.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
NORWOOD FINANCIAL CORP reported the six months ended June 30, 2023 results: net income $12,285,000, EPS $1.51.
- Period
- the six months ended June 30, 2023
- Net income
- $12,285,000
- EPS
- $1.51
- Result
- reported results
Exact text from the filing
Net income for the six months ended June 30, 2023, was $12,285,000, which is $1,698,000 lower than the same six-month period of 2022
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
NORWOOD FINANCIAL CORP reported the quarter ended June 30, 2023 results: net income $6,503,000, EPS $0.81.
- Period
- the quarter ended June 30, 2023
- Net income
- $6,503,000
- EPS
- $0.81
- Result
- reported results
Exact text from the filing
On July 26, 2023, Norwood Financial Corp (the “Company”) issued a press release announcing its earnings for the quarter ended June 30, 2023.
View on SEC.gov
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