Norwood Financial (Norwood Financial) Credit Losses Provision : $4.62 Mil (As of Dec. 2023)

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What is Norwood Financial Credit Losses Provision?

Norwood Financial's credit losses provision for the three months ended in Dec. 2023 was $6.12 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $4.62 Mil.

Norwood Financial's quarterly credit losses provision increased from Jun. 2023 ($-1.75 Mil) to Sep. 2023 ($0.88 Mil) and increased from Sep. 2023 ($0.88 Mil) to Dec. 2023 ($6.12 Mil).

Norwood Financial's annual credit losses provision declined from Dec. 2021 ($4.20 Mil) to Dec. 2022 ($0.90 Mil) but then increased from Dec. 2022 ($0.90 Mil) to Dec. 2023 ($5.55 Mil).

Norwood Financial Credit Losses Provision Historical Data

The historical data trend for Norwood Financial's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Norwood Financial Credit Losses Provision Chart

Norwood Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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1.25

5.45

4.20

0.90

5.55

Norwood Financial Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.30	-1.75	0.88	6.12	-0.62

Norwood Financial Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $4.62 Mil.

Norwood Financial (Norwood Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Norwood Financial Corp (NAS:NWFL) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

717 Main Street, P.O. Box 269, Honesdale, PA, USA, 18431

Website

https://www.wayne.bank

Norwood Financial Corp is a U.S.-based bank holding company. It offers various personal and business credit services, trust and investment products, and real estate settlement services to consumers, businesses, nonprofit organizations, and municipalities in each of the communities that the bank serves. The bank also manages automated teller machines at its branch location. It serves the Pennsylvanian counties of Wayne, Pike, Monroe, and Lackawanna, as well as Susquehanna County.

Executives

Andrew Forte	director	717 MAIN STREET, HONESDALE PA 18431
James O Donnelly	officer: President & CEO	717 MAIN ST, HONESDALE PA 18431
Jeffrey S Gifford	director	GIFFORD JEFFREY S, 717 MAIN STREET, HONESDALE PA 18431
Joseph W Adams	director	717 MAIN STREET, HONESDALE PA 18431
William S Lance	officer: EVP & CFO	717 MAIN STREET, HONESDALE PA 18431
John F Carmody	officer: EVP & Chief Credit Officer	717 MAIN STREET, HONESDALE PA 18431
Lewis J Critelli	director, officer: President & CEO	P O BOX 269, 717 MAIN ST, HONESDALE PA 18431
Alexandra K Nolan	director	NOLAN ALEXANDRA K, 717 MAIN STREET, HONESDALE PA 18431
Robert J Mancuso	officer: EVP & Chief Credit Officer	717 MAIN STREET, HONESDALE PA 18431
Vincent O'bell	officer: See Remarks	717 MAIN STREET, HONESDALE PA 18431
Davis William W Jr	director, officer: Chairman of the Board	P O BOX 269, 717 MAIN ST, HONESDALE PA 18431
Kenneth A Phillips	director	P O BOX 269, 717 MAIN ST, HONESDALE PA 18431
John H Sanders	officer: Senior Vice President	P O BOX 269, 717 MAIN ST, HONESDALE PA 18431
Susan Campfield	director	717 MAIN STREET, HONESDALE PA 18431
Meg L Hungerford	director	717 MAIN STREET, HONESDALE PA 18431