Business Description
Norwood Financial Corp., a Pennsylvania corporation, is the holding company
for Wayne Bank. On March 29, 1996, the Bank completed a holding company reorganization
and became a wholly owned subsidiary of the Company.
Wayne Bank is a Pennsylvania chartered bank and trust company headquartered
in Honesdale, Pennsylvania. The Bank was originally chartered on February 17,
1870 as Wayne County Savings Bank. Wayne County Savings Bank changed its name
to Wayne County Bank and Trust in December 1943. In September 1993, the Bank
adopted the name Wayne Bank. The Bank’s deposits are currently insured
to applicable limits by the Deposit Insurance Fund (“DIF”) as administered
by the Federal Deposit Insurance Corporation (“FDIC”). The Bank
is regulated by the Pennsylvania Department of Banking and Securities (“Department”)
and the FDIC.
The Bank is an independent community bank with five offices in Wayne County,
three offices in Pike County, four offices in Monroe County and three offices
in Lackawanna County. The Bank offers a wide variety of personal and business
credit services and trust and investment products and real estate settlement
services to the consumers, businesses, nonprofit organizations, and municipalities
in each of the communities that the Bank serves. The Bank primarily serves the
Pennsylvania counties of Wayne, Pike, Monroe and Lackawanna and, to a much lesser
extent, Susquehanna County. In addition, the Bank operates 15 automated teller
machines, each one located at a branch facility.
The Bank’s loan products include loans for personal and business use.
Personal lending includes mortgage lending to finance principal residences and
to a lesser extent second home dwellings. The Bank’s loan products include
fixed-rate mortgage products with terms up to 30 years which may be sold, in
the secondary market through the Federal National Mortgage Association (Fannie
Mae), the Federal Home Loan Bank (FHLB) or held in the Bank’s portfolio
to the extent consistent with our asset/liability management strategies. Fixed-rate
home equity loans are originated on terms up to 180 months. Home equity lines
of credit tied to the prime rate are also offered. The Bank to a lesser extent
also offers indirect dealer financing of automobiles (new and used), boats,
and recreational vehicles through a limited network of dealers in Northeast
Pennsylvania.
0.82% 
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