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Norwood Financial Corp (Parent Company Only) Financial Information | 12 Months Ended
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Dec. 31, 2022
Norwood Financial Corp (Parent Company Only) Financial Information [Abstract] |
Norwood Financial Corp (Parent Company Only) Financial | NOTE 18 - NORWOOD FINANCIAL CORP (PARENT COMPANY ONLY) FINANCIAL INFORMATION BALANCE SHEETS
|  | December 31,
|  | 2022 |  | 2021
|  | (In Thousands)
ASSETS |  |  |  |  |  |
Cash on deposit in bank subsidiary |  | $ | 3,938 |  | $ | 1,511
Investment in bank subsidiary |  |  | 164,248 |  |  | 204,547
Other assets |  |  | 2,365 |  |  | 2,472
Total assets |  | $ | 170,551 |  | $ | 208,530
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |
Liabilities |  | $ | 3,466 |  | $ | 3,268
Stockholders’ equity |  |  | 167,085 |  |  | 205,262
Total liabilities and stockholders' equity |  | $ | 170,551 |  | $ | 208,530
STATEMENTS OF INCOME
|  | Years Ended December 31,
|  | 2022 |  | 2021
Income: |  | (In Thousands)
Dividends from bank subsidiary |  | $ | 13,228 |  | $ | 10,697
Expenses |  |  | 743 |  |  | 627
|  |  | 12,485 |  |  | 10,070
Income tax benefit |  |  | (219) |  |  | (171)
|  |  | 12,704 |  |  | 10,241
Equity in undistributed earnings of subsidiary |  |  | 16,529 |  |  | 14,674
Net Income |  | $ | 29,233 |  | $ | 24,915
Comprehensive Income |  | $ | (27,864) |  | $ | 19,540
##### STATEMENTS OF CASH FLOWS
|  | Years Ended December 31,
|  | 2022 |  | 2021
|  | (In Thousands)
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |
Net income |  | $ | 29,233 |  | $ | 24,915
Adjustments to reconcile net income to |  |  |  |  |  |
net cash provided by operating activities: |  |  |  |  |  |
Undistributed earnings of bank subsidiary |  |  | (16,529) |  |  | (14,674)
Other, net |  |  | 607 |  |  | (129)
Net Cash Provided by Operating Activities |  |  | 13,311 |  |  | 10,112
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |
Stock options exercised |  |  | 657 |  |  | 394
Sale of treasury stock for ESOP |  |  | 132 |  |  | 130
Acquisition of treasury stock |  |  | (2,515) |  |  | (1,440)
Cash dividends paid |  |  | (9,158) |  |  | (8,539)
Net Cash Used in Financing Activities |  |  | (10,884) |  |  | (9,455)
Net Increase in Cash and Cash Equivalents |  |  | 2,427 |  |  | 657
CASH AND CASH EQUIVALENTS - BEGINNING |  |  | 1,511 |  |  | 854
CASH AND CASH EQUIVALENTS - ENDING |  | $ | 3,938 |  | $ | 1,511

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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