Norwood Financial Corp. announces receipt of regulatory approvals for acquisition of Delaware Bancshares, Inc.
OREANDA-NEWS. Norwood Financial Corp. (NASDAQ:NWFL), the holding company for Wayne Bank headquartered in Honesdale, Pennsylvania, announced that it had received final regulatory approvals for its proposed acquisition of Delaware Bancshares, Inc. and its wholly owned subsidiary, The National Bank of Delaware County. Subject to the satisfaction of various closing conditions including the approval of the merger by Delaware’s shareholders at a special meeting to be held on June 24, 2016, the closing for the acquisition remains on track for the third quarter.
Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp. commented “The staffs of both organizations are busy working to integrate The National Bank of Delaware County and Wayne Bank. We expect our consolidated larger Bank to offer expanded products and services in our combined market areas. We look forward to satisfying the remaining closing conditions and welcoming Delaware Bancshares’ stockholders, customers and employees.”
Norwood Financial Corp, through its subsidiary Wayne Bank, operates fifteen offices in Wayne, Pike, Monroe and Lackawanna Counties, Pennsylvania. The Company’s stock is traded on the NASDAQ Global Market, under the symbol “NWFL”.
Delaware Bancshares, Inc., the parent company of The National Bank of Delaware County, operates from twelve offices located in Delaware and Sullivan Counties, New York. Quotations for its stock are available on the OTC Pink Marketplace under the symbol “DBAI”.