Norwood Financial posts Q4 net loss of $12.7M on $20M securities repositioning loss, NIM expands 11 bps

NORWOOD FINANCIAL CORP

2024-FY EPS reported -$0.02 revenue$7,399,000

Net loss of $12.7M (-$1.54 diluted EPS) for Q4 2024 vs net income of $355k in Q4 2023; full-year net loss $160k.
One-time $20M loss on sale of securities in December to reposition investment portfolio for higher future yields.
Net interest margin (fte) improved to 3.04% in Q4 2024 from 2.93% in Q4 2023; net interest income up $1.3M YoY.
Loans grew at 9% annualized rate in Q4; tangible common equity rose to 8.05% from 6.98% after capital raise.
Total assets $2.317B, loans $1.693B, deposits $1.859B as of Dec 31, 2024.

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