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FOR IMMEDIATE RELEASE NORWOOD FINANCIAL CORP ANNOUNCES SECOND QUARTER EARNINGS Exhibit 99.1 Honesdale , Pennsylvania - July 23 , 2021 Lewis J. Critelli , President and Chief Executive Officer of Norwood Financial Corp ( Nasdaq Global Market - NWFL ) and its subsidiary , Wayne Bank , announced record earnings for the three months ended June 30 , 2021 of $ 5,755,000 , which was $ 4,267,000 , or 287 % , higher than the similar period of last year . The increase reflects the benefits derived from the Company's acquisition of UpState New York Bancorp , Inc. ( “ UpState ” ) , which closed on July 7 , 2020 , and fee income related to Paycheck Protection Program ( " PPP " ) loans . Earnings per share ( fully diluted ) were $ 0.70 in the 2021 period compared to $ 0.24 in the same period of last year . The annualized return on average assets for the three months ended June 30 , 2021 was 1.15 % , while the annualized return on average tangible equity was 13.63 % . Net income for the six months ended June 30 , 2021 totaled $ 11,296,000 , which is $ 6,729,000 higher than the same six - month period of 2020 due to the benefits derived from the acquisition of UpState and PPP fees earned . Earnings per share ( fully diluted ) for the six months ended June 30 , 2021 were $ 1.38 compared to $ 0.73 for the six months ended June 30 , 2021. The annualized return on average assets for the six months ended June 30 , 2021 was 1.16 % . The annualized return on average tangible equity for the six months ended June 30 , 2021 was 13.53 % . Total assets as of June 30 , 2021 were $ 2.026 billion , with loans receivable of $ 1.387 billion , deposits of $ 1.689 billion and stockholders ' equity of $ 200.5 million . Loans receivable increased $ 398.0 million since June 30 , 2020 , while total deposits increased 1