XML 71 R41.htm IDEA: XBRL DOCUMENT v3.8.0.1

Acquisition of Delaware Bancshares, Inc. (Tables)

12 Months Ended

Dec. 31, 2017

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition







(Dollars in Thousands, Except Per Share Data)

Purchase Price Consideration in Common Stock
Delaware Bancshares, Inc. common shares settled for stock			694,114
Exchange Ratio			0.6221
Norwood Financial Corp. shares issued			431,605
Value assigned to Norwood Financial Corp. common share		$	28.15
Purchase price assigned to Delaware Bancshares, Inc. common shares					$	12,150
  exchanged for Norwood Financial Corp.

Purchase Price Consideration - Cash for Common Stock
Delaware Bancshares, Inc. shares exchanged for cash			231,385
Purchase price paid to each Delaware Bancshares, Inc. common share exchanged for cash		$	16.68
Purchase price assigned to Delaware Bancshares, Inc. common shares exchanged for cash					$	3,860
Purchase price consideration - Cash-in-lieu of Fractional Shares						6
Total Purchase Price					$	16,016

Net Assets Acquired:

Delaware Bancshares, Inc. shareholders' equity		$	19,357
Delaware Bancshares, Inc. goodwill and intangibles			(7,640)
Total tangible equity			11,717

Adjustments to reflect assets acquired at fair value:
Investments			219
Loans
   Interest rate			1,486
   General credit			(1,614)
   Specific credit - non-amortizing			(260)
   Specific credit - amortizing			(239)
Core deposit intangible			449
Deferred loan fees			(296)
Premises and equipment			3,053
Allowance for loan and lease losses			1,651
Deferred tax assets			(1,417)
Other			(97)

Adjustments to reflect liabilities acquired at fair value:
Time deposits			(252)
						14,400
Goodwill resulting from merger					$	1,616





The following condensed statement reflects the values assigned to Delaware Bancshares, Inc. net assets as of acquisition date:



(In Thousands)






Total purchase price					$	16,016

Net assets acquired:
Cash		$	14,977
Securities available for sale			208,488
Loans			116,674
Premises and equipment, net			7,292
Regulatory stock			279
Accrued interest receivable			1,626
Bank-owned life insurance			14,762
Core deposit intangible			449
Deferred tax assets			3,034
Other assets			3,282
Time deposits			(71,342)
Deposits other than time deposits			(255,921)
Borrowings			(21,232)
Accrued interest payable			(95)
Other liabilities			(7,873)
						14,400

Goodwill resulting from Delaware Bancshares, Inc., Merger					$	1,616



Future Amortization Expense




2018	$	126
2019		101
2020		77
2021		52
2022		38
Thereafter		68
	$	462




Proforma





					Pro Forma
					Year Ended December 31,
(In Thousands, Except Per Share Data)				2017			2016
Net interest income				$	34,908		$	37,199
Non-interest income					6,911			6,487
Net income					8,198			3,588
Pro forma earnings per share:
  Basic				$	1.32		$	0.58
  Diluted				$	1.31		$	0.58



Nonrecurring Adjustments



Professional fees				$	-		$	1,602
Data processing related					-			638
Other					-			810



Delaware Bancshares, Inc. Acquisition [Member]

Business Acquisition [Line Items]

Future Amortization Expense



(In thousands)

2018	$	70
2019		62
2020		54
2021		46
2022		37
After five years		68
	$	337



X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_BusinessAcquisitionLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(4)
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationNonrecurringAdjustmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

+ Details

Name:	us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=nwfl_DelawareBancsharesInc.AcquisitionMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: