---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-156255"
form_type: "8-K"
ticker: "NWFL"
cik: "0001013272"
company_name: "NORWOOD FINANCIAL CORP"
filed_at: "2025-07-07T23:59:59+00:00"
generated_at: "2026-05-18T09:14:18.758460+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Norwood Financial to acquire PB Bankshares for ~$54.9M in stock/cash mix

## Summary
- 80% stock (0.7850 NWFL shares) or $19.75 cash per PBBK share; total consideration ~$54.9M.
- Deal valued at 106.6% of PBBK tangible book value; 2.3% core deposit premium.
- Expected 10% EPS accretion in 2026, 4.2% TBV dilution, earnback period of 2.5 years.
- Combined company to have ~$3.0B assets; PBBK shareholders to own ~14% of NWFL post-close.
- PBBK CEO Janak Amin to stay as EVP/COO of Wayne Bank; closing expected late 2025/early 2026.

## SEC filing metadata
- accession: 0001193125-25-156255
- form_type: 8-K
- ticker: NWFL
- cik: 0001013272
- company_name: NORWOOD FINANCIAL CORP
- filed_at: 2025-07-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1013272/000119312525156255/0001193125-25-156255-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013272/000119312525156255/d849228d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-156255
- JSON: https://secwatch.observer/filing/0001193125-25-156255.json
- Plain text: https://secwatch.observer/filing/0001193125-25-156255.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.