Norwood Financial Corp (NWFL) and PB Bankshares, Inc. have jointly announced that both companies’ boards of directors have unanimously approved an agreement and plan of merger. According to the agreement, Presence will merge with and into Norwood.
Under the terms of the merger agreement, 80% of Presence’s common shares will be converted into Norwood Financial common stock. The remaining 20% of the shares will be exchanged for cash.
The merger between Norwood Financial Corp (NWFL) and PB Bankshares, Inc. is anticipated to close in either the late fourth quarter of 2025 or the early first quarter of 2026.
Mr. Amin, who will be joining Wayne Bank (WAYN) as Executive Vice President and Chief Operating Officer, commented, We are equally excited for this strategic partnership and the opportunity to gain market share in Central and Southeastern Pennsylvania.