Norwood Financial Corp. · NASDAQ:NWFL
Norwood Financial — Q3 2025 Earnings Presentation
17 slides from Norwood Financial's earnings presentation, Oct 22, 2025
Slide 1: Investor Presentation Q3 2025 Earnings Call
Exhibit 99.2 INVESTOR PRESENTATION Q3 2025 Earnings Call O c t o b e r 2 2 , 2 0 2 5
Slide 2: Forward-looking Statements and Additional Information
Forward-looking Statements and Additional Information This presentation contains forward-looking statements within the meaning of the federal securities laws relating to the proposed merger with PB Bankshares, Inc. (“PBBK”) by Norwood Financial Corp. (“Norwood” or “NWFL”), the integration of PBBK wi
Slide 3: Forward-looking Statements and Additional Information
Forward-looking Statements and Additional Information This communication is being made in respect of the proposed merger transaction involving NWFL and PBBK. This material is not a solicitation of any vote or approval of the NWFL and PBBK shareholders and is not a substitute for the proxy statement/
Slide 4: Q3 2025 Summary
Q3 2025 Summary Selected Financial Highlights Key Messages (all comps Y/Y) We performed well during the third quarter, improving $20.5M 2.94% margins, increasing profitability, growing assets, and 1 1 Net Interest Spread (fte) Net Interest Income strengthening our financial position +71 bps +28% Our
Slide 5: Franchise Overview
Franchise Overview | Norwood Financial Corp. Branch Footprint Franchise Highlights Cooperstown NASDAQ: NWFL $2.4B Oneonta 29 2 10 CA1 Total Assets Headquarters: Honesdale, PA Offices States Counties Honesdale Founded: 1871 $1.8B Milford Total Gross Loans Scranton Employees: 281 Dividend Yield: 5.0%
Slide 6: Strength. Security. Stability. Key Tenets for Success
Strength. Security. Stability. Key Tenets for Success Customers Employees Community Shareholders Recently rebranded: Consolidated Wayne Bank, the Bank of Cooperstown and Bank of the Finger Lakes under single Wayne Bank brand. 150+ Years in Business Committed to the same community banking mission and
Slide 7: Disciplined, Opportunistic Growth Strategy
Disciplined, Opportunistic Growth Strategy A History of Organic Growth and Successful Acquisitions 1 Acquired Branches NY $0.5 PA $0.5 $2.4 $2.3 $2.2 $2.1 $2.0 $0.4 $1.4 $1.2 $1.2 $0.2 $1.1 $0.8 $0.7 $0.7 $0.7 $0.7 $0.5 $0.5 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 8: Loan Portfolio Overview
Loan Portfolio Overview Small Business Lending, Granular Relationships and Limited Industry Concentration Loan Portfolio By Category Historical Asset Yields JM1 1-4 Family, 6.22% 6.18% 6.16% 6.13% 6.08% C&I, 14% 14% 5.98% 5.90% 5.84% 5.69% 5.60% 5.52% 5.54% Const & Land, 5.35% 5.33% 5.31% 5.17% 5.11
Slide 9: Strong Historical Credit Quality
CA1 Strong Historical Credit Quality Recent Loan Growth Has Not Compromised Our Disciplined Credit Culture $1,850 0.60% $1,800 0.50% $1,750 0.40% $1,700 $1,650 0.30% $1,600 0.20% $1,550 0.10% $1,500 $1,450 0.00% 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 Loans (millions)
Slide 10: Deposit Portfolio Overview
Deposit Portfolio Overview Attractive Retail Franchise Bolstered by Commercial and Municipal Relationships Deposit Portfolio by Category Historical Funding Costs 2.50% 2.49% 2.46% 2.43% 2.39% 2.30% NIB Demand 2.21% 2.18% 21% 1.94% Time Deposits 2.34% 2.32% 2.30% 2.25% 2.26% 1.58% 2.17% 2.11% 41% 2.0
Slide 11: Interest Rate Sensitivity
Interest Rate Sensitivity Net Interest Income Sensitivity 1.5% 0.8% 0.5% 0.2% -1.1% -1.1% -2.1% -2.4% -2.6% -3.8% -4.4% -6.8% -300 -200 -100 Base +100 +200 +300 Q1 2025 Q2 2025 Note: Impact to net interest income as of September 30, 2024
Slide 12: Investment Proposition
Investment Proposition Strong local ties providing consistent and Disciplined underwriting culture sound growth opportunities Experienced Executive Team, aligned Granular loan and deposit portfolio tied to with Board of Directors, focused on our community delivering shareholder return Attractive fin
Slide 13: Appendix
APPENDIX
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted Return on Average Assets (Dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended 2025 2024 2025 2024 June 30, 2025 Net (loss) income $ 8,334 $ 3,844 $ 20,313 $ 12,491 $ 6,205 Average assets 2,363,759 2,236,466 2,
Slide 15: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) Adjusted Earnings Per Share (Dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended 2025 2024 2025 2024 June 30, 2025 GAAP-Based Earnings Per Share, Basic $ 0.89 $ 0.48 $ 2.22 $ 1.55 $ 0.67 GAAP-Based Earnings
Slide 16: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) Net interest income on a fully taxable equivalent basis (Dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended 2025 2024 2025 2024 June 30, 2025 Net Interest Income $ 20,458 $ 15,931 $ 5 7,380 $ 4 5,566 $ 19,
Slide 17: Thank You
Thank You