Norwood Financial Completes PB Bankshares Acquisition

Norwood Financial Corp has 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 can elect to receive either $19.75 in cash or 0.7850 shares of Norwood common stock for each PB Bankshares share. For fractional shares, PB shareholders receive cash at approximately $29.08 per Norwood share. About 87% of PB shares elected stock, about 1% elected cash, and about 12% made no preference or did not submit a valid election.

PB directors Joseph W. Carroll and Spencer J. Andress joined the Norwood and Wayne Bank boards. PB CEO Janak M. Amin will become Norwood’s Executive Vice President and Chief Operating Officer, and additional PB executives will join Norwood and Wayne Bank leadership.