News Column

BRIEF: Norwood earnings up

July 25, 2014

By David Falchek, The Times-Tribune, Scranton, Pa.



July 25--HONESDALE -- Second-quarter earnings for Wayne Bank parent Norwood Financial Corp. jumped 10.6 percent for the quarter ending June 30 to $2,034,000.

A decrease in the amount of the bank's provisions for loan losses along with the sale of securities contributed to the gains. As asset quality improved and net charge-offs declined, the bank contributed $420,000 to the loan loss reserve, down from $800,000 it contributed in the second quarter of 2013.

Earnings per share were 56 cents, up 5 cents from the year-ago quarters.

Total assets as of June 30 were $716.9 million. Norwood operates sixteen offices in Northeast Pennsylvania and is traded on the Nasdaq Global Market under the symbol "NWFL."

-- DAVID FALCHEK

___

(c)2014 The Times-Tribune (Scranton, Pa.)

Visit The Times-Tribune (Scranton, Pa.) at thetimes-tribune.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Times-Tribune (Scranton, PA)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters