UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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NORWOOD FINANCIAL CORP
INFORMATION TO BE INCLUDED IN THE REPORT
| Item 7.01 | Regulation FD Disclosure. |
On April 25, 2023, Norwood Financial Corp (the “Company”) will utilize a slide presentation at its 2023 Annual Meeting of Stockholders.
A copy of the slide presentation is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information included in this Current Report pursuant to this Item 7.01 is being furnished to, and not filed with, the Securities and Exchange Commission.
By filing this Current Report on Form 8-K and furnishing the information contained herein, the Company makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits:
The following exhibits are being furnished with this report.
| No. |
Description | |
| 99.1 | Norwood Financial Corp Annual Meeting Presentation dated April 25, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NORWOOD FINANCIAL CORP | ||||||
| Date: April 25, 2023 | By: | /s/ William S. Lance | ||||
| William S. Lance Executive Vice President and Chief Financial Officer (Duly Authorized Representative) | ||||||
Exhibit 99.1
ANNUAL STOCKHOLDERS’ MEETING APRIL 25, 2023
DISCUSSION 2022 Results First Quarter 2023 Moving Forward
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to a number of uncertainties and actual results could differ materially, and therefore, you should not place undue reliance on any forward-looking statements. Norwood Financial Corp does not undertake and specifically disclaims any obligation to publically release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
summry
â–ª Loan Portfolio Growth of $119 million â–ª Redeployment of Low-Earning Overnight Liquidity into Higher Earning Loans â–ª Positive Effects of Rising Interest Rates
EARNINGS GROWTH
EARNINGS PER SHARE
PERFORMANCE RATIOS
PERFORMANCE RATIOS RETURN ON EQUITY
DIVIDENDS PER SHARE
CASH DIVIDENDS PAYOUT RATIO
TOTAL ASSETS
▪ Total Assets Decreased $21 million to $2.0 billion  Economic Stimulus Fund Runoff PPP Loans Paid Off ▪ Total Loan Increased $119 million in 2022  $90 million Increase in Retail Loans $29 million Increase in Commercial Loans ▪ Deposits Decreased $29 million  Economic Stimulus
NON-PERFORMING ASSETS
ALLOWANCE FOR LOAN LOSSES
COVERAGE RATIO
â–ª Yield on Interest-Earning Assets Increased 9 Basis Points to 3.90% â–ª Cost of Interest-Bearing Liabilities Increased 10 Basis Points to 0.52%
NET INTEREST MARGIN
NET INTEREST MARGIN COMPARISON
OPERATING EXPENSES
EFFICIENCY RATIO
EFFECTIVE SPENDING
CAPITAL AT YEAR END
SHARE REPURCHASE PROGRAM â–ª In 2021, Program Announced to Buy Back up to 5% of Outstanding Shares â–ª In 2022, Over 94,000 Shares of Stock were Repurchased.
â–ª RECAP 2022 Record Earnings â–ª ROA = 1.43% â–ª ROE = 16.11% â–ª Grew Loans By 8.8% â–ª Increased Cash Dividend by 3.6% in Q4 â–ª Maintained Strong Credit Quality Metrics â–ª Managed Most Significant Increase in Interest Rates by Fed in Over 40 Years
OPTIMISMS FUTURE UPPORTUNITIES
LOOKING FORWARD
â–ª Earnings of $5,782,000 â–ª EPS of $0.71 â–ª ROA = 1.13% â–ª ROAE = 13.61%
â–ª Total Assets of $2.104 billion â–ª Total Loans of $1.536 billion â–ª Total Deposits of $1.756 billion â–ª Stockholder’s Equity of $176.4 million
Net Interest Income: $16.1 million Net Interest Spread: 2.83% Other Income: $1.9 million Operating Expenses: $10.4 million
â–ª 16.7% Annual Loan Increase â–ª 6.6% Annual Deposit Increase â–ª Well-Capitalized
POSITIVE CHANGE AND PROGRESS
PENN YAN COMMUNITY OFFICE EXPANSION & RELOCATION
RANKED ONE OF THE TOP 100 PERFORMING BANKS IN THE COUNTRY Profitability Capital Adequacy Asset Quality Shareholder Return
FOCUS ON TECHNOLOGY Easily Access Your Debit Card 24/7 From Your Mobile Device Instant Alerts, Turn Card Off if Lost or Stolen, and Create Travel Plan Notifications Used by Over 5,000 Customers
FOCUS ON TECHNOLOGY Over 46,000 Mobile Banking Users Over 7,500 Mobile Deposit Capture Users
FRAUD PREVENTION, EDUCATION, & AWARNESS
HELPING THE COMMUNITY GROW â– 1,237 Retail Loans just under $100 million
BUSINESS DEVELOPMENT IN PENNSYLVANIA
BUSINESS DEVELOPMENT IN NEW YORK
OUR MISSION Build Lasting Relationships with Customers Help Local Businesses Grow and Thrive Reinvest in Communities we Serve Expand into New Markets Reward Shareholders
Thank you