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FOR IMMEDIATE RELEASE NORWOOD FINANCIAL CORP ANNOUNCES THIRD QUARTER EARNINGS Exhibit 99.1 October 26 , 2021 - Honesdale , Pennsylvania Lewis J. Critelli , President and Chief Executive Officer of Norwood Financial Corp. ( Nasdaq Global Market - NWFL ) and its subsidiary , Wayne Bank , announced earnings for the three months ended September 30 , 2021 of $ 6,981,000 which represents an increase of $ 1,982,000 , or 39.6 % , over the $ 4,999,000 earned in the same three - month period of 2020. The increase in earnings was due to a $ 1.7 million increase in net interest income , including fee income recognized on Paycheck Protection Program ( " PPP " ) loans forgiven , and a $ 1.1 million reduction in the provision for loan losses . Earnings per share ( fully diluted ) were $ 0.85 in the three - months ended September 30 , 2021 , which represents an increase from the $ 0.62 earned in the same period of 2020. The annualized returns on average assets and average tangible equity for the current three - month period were 1.36 % and 15.72 % , respectively , compared to 1.11 % and 11.72 % for the three - month period ended September 30 , 2020. Net income for the nine months ended September 30 , 2021 , totaled $ 18,277,000 , which is $ 8,710,000 , or 91.1 % , higher than the same period of 2020 , primarily due to the benefits derived from the Company's acquisition of UpState New York Bancorp , Inc. ( " UpState " ) , which closed on July 7 , 2020. Earnings per share ( fully diluted ) for the nine months ended September 30 , 2021 , totaled $ 2.23 per share compared to $ 1.39 per share in the 2020 period . 1