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Norwood Financial Launches Stock Repurchase Program to Buy Up to 550,000 Shares
Norwood Financial Corp announced that its Board of Directors has adopted a stock repurchase program. Under the repurchase program, the company may repurchase up to 550,000 shares of its common stock, representing approximately 5% of the company's issued and outstanding shares. The repurchase plan replaces and supersedes the repurchase plan which the company had authorized in 2021. The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the company's financial performance. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.
Major Averages Rise Amid Trump Comments
The major averages were broadly higher near noon once again amid easing geopolitical fears. The optimism follows comments from President Donald Trump signaling a retreat from his prior tariff threats and outlining a framework agreement involving Greenland with NATO partners. A new spate of corporate earnings reports is influencing the major indexes, with major industrial and consumer product companies sharing their quarterly results.Looking to commodities, gold prices were trading higher and inching towards the $4,900 mark, while oil prices plunged following gas and crude data from API and EIA.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:GE Aerospacereportedand revenue and provided its outlook for FY26Procter & Gamblereportedand reiterated its FY26 guidanceAbbottreportedand provided its outlook for Q1 and FY26Freeport-McMoRanreportedMcCormickreportedand provided a conservative outlook for FY262. WALL STREET CALLS:Alphabetto Strong Buy from Outperform at Raymond JamesStifelDatadogto Buy with checks pointing to large Q4 beatRigetti Computingto Buy from Neutral at B. RileyCrocsto Sector Weight from Overweight at KeyBancPalantirwith a Buy at Phillip Securities3. AROUND THE WEB:Alibabais laying the groundwork for a potential listing of its chipmaking division, seeking to capitalize on strong investor interest in the limited group of companies aiming to challenge Nvidiain the market for AI accelerators, Bloomberg saysUnder Armouris investigating a data breach after millions of customer records were posted to a hacker forum, allegedly linked to a November attack claimed by the Everest ransomware gang, TechCrunch reportsJPMorganhas agreed to acquire British wealth management software business WealthOS, Sky saysAppLovinpushed back against a short-seller report that alleged the company has ties to a multibillion-dollar money-laundering network, Investing.com reportsAI startup SambaNova Systems is now seeking to raise $300M to $500M from other tech companies and semiconductor makers after talks to sell to Intelstalled, Bloomberg says4. MOVERS:USA Rare Earthhigher after selectingas its Engineering, Procurement and Construction ManagementTerrestrial Energyincreases afterfor Project TEFLACorcept Therapeuticsgains after reporting its ROSELLA trialOld Republicfalls afterPoet Technologieslower in New York after announcing a5. EARNINGS/GUIDANCETexas Capital, with EPS and revenue beating consensusACM Researchfor FY25 and provided its outlook for FY26Life Time Groupfor FY25 and provided its outlook for FY26Mobileye, with EPS in-line with consensusNorwood Financial, with CEO Jim Donnelly commenting, ""We finished the year on a positive note in the fourth quarter, as we continued to maintain solid growth"INDEXES:Near midday, the Dow was up 0.82%, or 401.10, to 49,478.33, the Nasdaq was up 0.98%, or 226.57, to 23,451.40, and the S&P 500 was up 0.66%, or 45.45, to 6,921.07.
Norwood CEO Optimistic About 2026 Outlook
Jim Donnelly, President and Chief Executive Officer, stated, "We finished the year on a positive note in the fourth quarter, as we continued to maintain solid growth, while improving profitability and efficiency. Our disciplined approach and commitment to core values propels us to be able to deliver strong results for our shareholders. I am proud of the performance of the entire Norwood team as they remain focused on delivering the products and services that help our customers achieve their goals. This gives us great momentum as we enter 2026."
Norwood Financial Completes Acquisition of PB Bankshares
Norwood Financial completed its acquisition of PB Bankshares and its wholly-owned subsidiary, Presence Bank effective as of January 5, 2026. Presence Bank has been merged into Wayne Bank. At their election, PB Bankshares shareholders are receiving either $19.75 in cash or 0.7850 shares of Norwood common stock for each share of PB Bankshares common stock held subject to the allocation and proration procedures set forth in the Merger Agreement. In lieu of fractional shares of Norwood common stock, PB Bankshares shareholders will receive cash at the rate of approximately $29.08 per share of Norwood common stock. PB Bankshares' shareholders who have not previously surrendered their share certificates will receive information shortly on how to exchange their shares for the merger consideration to which they are entitled. Approximately 87% of PB Bankshares shares outstanding elected to receive Norwood common stock, approximately 1% elected to receive cash, and approximately 12% submitted elections expressing no preference as to the form of merger consideration, or did not make, or failed to submit, a valid election. Based on this information, PB Bankshares shareholders who made valid elections to receive the cash consideration will receive the cash consideration for all of their shares subject to such election, and PB Bankshares' shareholders who made valid elections to receive the stock consideration will receive stock consideration for approximately 92% of their shares subject to such election, with the balance of such elections being satisfied with the cash consideration. PB Bankshares shareholders who expressed no preference as to the form of merger consideration to be received or did not make a valid election will receive the cash consideration for all of their shares. Effective upon completion of the merger, Joseph W. Carroll and Spencer J. Andress, each former directors of PB Bankshares and Presence Bank, were appointed to the boards of directors of Norwood and Wayne Bank. Janak M. Amin, President and Chief Executive Officer of PB Bankshares and Presence Bank, will join the Norwood team as Executive Vice President and Chief Operating Officer of Norwood and Wayne Bank. In addition, Larry W. Witt, Executive Vice President and Chief Information Officer of PB Bankshares, will join with Norwood as Executive Vice President and Chief Information Officer of Norwood and Wayne Bank, and Douglas L. Byers, Executive Vice President and Chief Banking Officer of PB Bankshares, will join Norwood as Executive Vice President and Market President, Central Pennsylvania, of Norwood and Wayne Bank. As a result of the merger, Norwood will extend its footprint into Chester and Lancaster Counties in Pennsylvania. The combined company will have approximately $2.9 billion in assets and 33 office locations. At September 30, 2025, PB Bankshares had total assets of $456.4 million, deposits of $355.0 million and shareholders' equity of $51.3 million.
Norwood Financial Receives Final Regulatory Approvals for PB Bankshares Acquisition
Norwood Financial received final regulatory approvals for its proposed acquisition of PB Bankshares. Subject to the satisfaction of customary closing conditions, Norwood anticipates closing the acquisition on or about January 5, 2026.
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