Quarterly ResultApr 27, 2026, 08:16 AM
NWFL Q1 Net Income $3.7M; Presence Bancshares Acquisition Closed
AI Summary
Norwood Financial Corp announced first-quarter 2026 results, highlighted by the successful closure of the Presence Bancshares acquisition on January 5, 2026, and a core system conversion on April 13, 2026. Reported net income was $3.7 million, or $0.35 diluted EPS, impacted by merger-related and restructuring expenses. On an adjusted basis, net income was $7.8 million, or $0.72 diluted EPS, reflecting solid pre-provision net revenue growth and improved returns. Total assets reached $2.9 billion, with record net interest income of $24.6 million.
Key Highlights
- Successfully closed acquisition of Presence Bancshares on January 5, 2026.
- Total assets increased 22.8% to $2.917 billion from $2.376 billion YoY.
- Record Net Interest Income of $24.6 million, up $6.7 million YoY.
- Reported Net income $3.7 million, down $2.0 million YoY.
- Adjusted Net income $7.8 million, up $2.0 million YoY.
- Reported Diluted EPS $0.35, down $0.28 YoY.
- Adjusted Diluted EPS $0.72, up $0.09 YoY.
- Tangible Book Value per share $22.43, up $1.77 YoY.