Norwood Financial Corp announces Second Quarter Financial Results
Norwood Financial reported record second quarter results with net income of $9.3 million and net interest income of $26.8 million, driven by a 47 basis point expansion in net interest margin to 3.90%. Total assets grew 22.9% year-over-year to $2.9 billion, and tangible book value per share increased to $22.96, following the successful completion of the Presence Bancshares integration.
Key figures
- Eps
- 0.86
- Revenue
- 26839000
- Revenue Yoy
- 40.8%
- Net income
- 9328000
- Total assets
- 2907914000
- Net interest income
- 26839000
- Net interest margin
- 3.90%
- Provision for credit losses
- 1944000
- Tangible book value per share
- 22.96
- Return on average tangible equity
- 15.04%
AI analysis
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