PB Bankshares Acquired by Norwood Financial

Norwood Financial Corp completed its acquisition of PB Bankshares, Inc. and its wholly owned subsidiary, Presence Bank, effective January 5, 2026. Presence Bank was merged into Wayne Bank.

PB Bankshares shareholders receive, at election, $19.75 in cash or 0.7850 shares of Norwood common stock for each PB share held. In lieu of fractional shares, cash is paid at approximately $29.08 per share of Norwood common stock. Approximately 87% of PB shares elected stock, about 1% elected cash, and about 12% made no preference or did not make a valid election.

The combined company will have approximately $2.9 billion in assets and 33 office locations, extending Norwood’s footprint into Chester and Lancaster Counties in Pennsylvania.