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PB Bankshares (PBBK)

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Norwood Financial Corp Completes Acquisition of PB Bankshares, Inc.
PBBK
M&A
Board Change
Management Change
  • Norwood Financial Corp completed its acquisition of PB Bankshares, Inc. and its wholly-owned subsidiary, Presence Bank, effective January 5, 2026.
  • PB Bankshares shareholders received either $19.75 in cash or 0.7850 shares of Norwood common stock for each share, with approximately 87% of shares electing to receive Norwood common stock.
  • The merger creates a combined company with approximately $2.9 billion in assets and 33 office locations.
  • Joseph W. Carroll and Spencer J. Andress, former directors of PB Bankshares, were appointed to the boards of directors of Norwood and Wayne Bank, and several PB Bankshares executives, including former President and CEO Janak M. Amin, joined Norwood and Wayne Bank in new executive roles.
Jan 5, 2026, 1:15 PM