Norwood Financial Q1 net income falls 23% to $4.4M; EPS $0.55 vs $0.71

NORWOOD FINANCIAL CORP

2024-Q1 EPS reported $0.55 revenue$1,711,000

Net income of $4.4M, down 23% YoY; diluted EPS $0.55 vs $0.71.
Net interest income (fte) fell to $14.9M from $16.3M; spread narrowed to 2.07% from 2.83%.
Total assets grew to $2.260B; loans annualized growth 4.5%, deposits 9.8%.
Provision for credit losses decreased $924,000 on lower NPLs and charge-offs.
CEO cites pressure on net interest income from rising deposit costs; capital remains well-capitalized.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NORWOOD FINANCIAL CORP reported three months ended March 31, 2024 results: net income $4,433,000, EPS $0.55.

Period: three months ended March 31, 2024
Net income: $4,433,000
EPS: $0.55
Result: reported results

Exact text from the filing

Norwood Financial Corp (the “Company”) issued a press release announcing its earnings for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-103920

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