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An announcement from PB Bankshares ( (PBBK) ) is now available.
On July 7, 2025, PB Bankshares and its subsidiary, Presence Bank, entered into a merger agreement with Norwood Financial Corp and Wayne Bank. The merger, expected to close in late 2025 or early 2026, will see PB Bankshares merge into Norwood, and Presence Bank merge into Wayne Bank. The transaction, valued at approximately $54.9 million, will expand Norwood’s presence in Central and Southeastern Pennsylvania, creating a combined entity with around $3.0 billion in assets. This merger aims to enhance service offerings and market reach, with 80% of Presence’s shares being converted into Norwood stock and 20% exchanged for cash. The merger is anticipated to be accretive to earnings per share by 10% in 2026, despite a 4.2% tangible book value dilution at closing.
More about PB Bankshares
PB Bankshares, Inc. is the holding company for Presence Bank, which operates four banking offices and one loan production office in Chester, Lancaster, and Dauphin Counties, Pennsylvania. Presence Bank was founded in 1919. Norwood Financial Corp is the bank holding company for Wayne Bank, which operates 30 banking offices in Pennsylvania and New York. As of March 31, 2025, Norwood Financial had consolidated assets of $2.4 billion.
Average Trading Volume: 8,138
Technical Sentiment Signal: Buy
Current Market Cap: $44.28M
See more insights into PBBK stock on TipRanks’ Stock Analysis page.