Norwood Financial and PB Bankshares merge to create entity with $3bn in assets.

Norwood Financial and PB Bankshares, Pennsylvania-based banks, have agreed to a merger valued at $54.9m. The deal will integrate PB Bankshares into Norwood Financial, creating a combined entity with $3bn in assets. The transaction is expected to finalize in late 2025 or early 2026, pending regulatory approvals and shareholder consent.

As of March 31, 2025, Norwood Financial and PB Bankshares reported assets of $2.4bn and $467m, respectively. Wayne Bank, a subsidiary of Norwood Financial, operates 30 branches in Pennsylvania and New York, while Presence Bank, a subsidiary of PB Bankshares, has four branches and a loan production office in Central and Southeastern Pennsylvania.

The merger terms stipulate that 80% of PB Bankshares’ common shares will be exchanged for Norwood Financial stock, with the remaining 20% converted to cash. Shareholders can choose to receive either Norwood Financial stock or cash per share. The merger aims to strengthen Norwood Financial’s presence in Pennsylvania.

Norwood Financial’s CEO expressed satisfaction with the merger, praising Presence Bank’s values and service. Presence Bank’s CEO also welcomed the partnership, highlighting the shared culture and values between the two institutions. The merger is seen as a strategic move to gain market share in Central and Southeastern Pennsylvania.

Read more at Yahoo Finance: Pennsylvania’s Norwood Financial and PB Bankshares announce merger