Children’s Advocacy Center Announces Executive Director

Honorable Judge Michael J. Barrasse, President of the Children’s Advocacy Center of NEPA Board of Directors has announced their selection of Meghan Lennox Gagorik as the Center’s new Executive Director.

Meghan Gagorik most recently served as the Division Director for the American Heart Association, overseeing Northeast and Central Pennsylvania and the Pocono Region. In her over 18 years of community service, Meghan served in numerous volunteer leadership and community-focused professional roles. She has overseen both non-profit and private-sector teams with a focus on addressing and overcoming health disparities and individuals’ inequities in the community. Meghan holds a Bachelor of Science in Human Services degree from Lackawanna College and a Master of Business Administration in Organizational Management from Eastern University.

Judge Barrasse stated, “The Children’s Advocacy Center is delighted to welcome Meghan Gagorik as our new Executive Director. The Center’s Board completed an aggressive search and Meghan stood out, not only as an experienced candidate, but also as someone who is committed to protecting and nurturing children with compassion. Her dedication to advancing the mission of the CAC is truly impressive.”

“I am honored to lead the important work and dedicated staff of the Children’s Advocacy Center of Northeastern Pennsylvania,” related, Ms. Gagorik. “The Center’s work of protecting and healing children who have been subjected to abuse and neglect is critical in our community. Working closely with area law enforcement, prosecutors, case workers and other community partners to provide supportive care for children and families is the highest mission. CAC of NEPA does it best.”

Among the various boards and committees, Meghan has served Coaches vs. Cancer, Geisinger Northeast Advisory Council, Geisinger Northeast Women’s Leadership Council, and the Spirit of Hope benefiting NRCI. She is a past chair of Relay for Life and the Coaches vs. Cancer Gala. Her board service includes The American Cancer Society, Leadership Lackawanna, and the Everhart Museum of Natural History. Meghan has received multiple awards for her work, including the Children’s Advocacy Center of NEPA’s Child Advocate of the Year Award, the Outstanding and Dedicated Service Award, Distinctive Women of Northeast PA, the Saddle of Hope Award, Top 25 Women in Business, and the Sam & Jane Cali Star Award.

Tobyhanna Army Depot Recognizes Wren Family for Generations in Combat

On the shores of Lake Michigan, fresh off his grandson Jacob’s boot camp graduation, Richard S. Wren Sr. knew the time had come to share the things he had seen and endured while serving his nation.

Jacob, or “Butch” as his grandfather affectionately calls him, was about to be the next in a long line of Wrens to serve his nation. Richard S. Wren Sr. earned a Purple Heart when he was wounded by grenade shrapnel in the Korean War. Understandably, he talks little of the harrowing experience, but in this moment the patriarch of the Wren family felt it necessary to make his grandson aware of the realities posed by serving one’s nation.

Jacob Wren holds the conversation, with the man who he and everyone in the family strives to make proud, amongst the most important and meaningful of his life.

“(My grandfather) said ‘You know, Butch, I’m very proud of you, but just know you signed up to go into war, and I’m going to tell you something I’ve never talked to you about,’” said Jacob Wren.

He said the conversation only heightened his already lofty view of his grandfather’s sacrifice.

“That’s when it dawned on me to see the things that he has seen and gone through in his life – he had to come home and live with that without any of us really knowing the effects that caused on him and his life, but he never let that change who he was and how he was in our lives as a grandfather.”

For generations, the Wrens have passed down a tradition of family, hard work and service to one’s nation. Dating all the way back to the Revolutionary War on Jacob’s grandmother’s and Richard S. Wren Sr.’s wife, Barbara A. Wren’s, side of the family, that commitment to serving our nation has been proudly passed down. Richard S. Wren Sr. and his son Richard S. Wren Jr. both served their nation in the Army. Largely inspired by their grandfather and father’s Army service, Jacob and his youngest brother, Anthony, served the nation in the Navy. Although an injury prevented Jacob from going to war, Anthony served multiple tours.

Jacob Wren said the opportunity to not only continue his family’s legacy of service but become a part of a shared experience generations of Wrens have known was a surreal one.

“To be a part of something bigger than I am, and to share that with my little brother who was active duty at the time, was incredible. To share that with him and have that brotherhood not just with the Navy but with my brother as well, was incredible.”

Perhaps the most remarkable aspect of Richard S. Wren Sr.’s service is his unwavering loyalty and dedication to our nation despite the tremendous sacrifices he has made. Once his military career had ended, Richard S. Wren Sr., who had given so much to our nation, asked how he can serve the nation further.

That desire to serve his nation in a civilian capacity led Richard S. Wren Sr. to join the ranks of Team Tobyhanna with a career at Tobyhanna Army Depot (TYAD).

Once again, Richard S. Wren Sr. inspired others in his family to serve their nation, this time on the home front.

Currently, Russell Wren, his nephews Jacob and Richard S. Wren III and their cousin Michael Kosloski all serve amongst the ranks of Team Tobyhanna. They follow in the footsteps of Richard S. Wren Sr. and his son Richard S. Wren Jr., who both counted themselves as members of the civilian workforce.

For Jacob and Richard III, TYAD has been in their blood since childhood. The two not only work at TYAD but lived in Tobyhanna Pines, Army family housing on post, as children.

Much like his brother Jacob, Richard S. Wren III was inspired by his grandfather to serve his nation. Although a medical issue kept him out of the Army, he was determined to etch his name in the long history of the Wren family’s service to the nation.

“Tobyhanna was my second chance to serve my nation. To this day, I have a great deal of passion and pride in working here. It was very important to me to do some sort of service,” said Richard S. Wren III.

Every member of Team Tobyhanna has an added purpose in their work knowing that the work they support will directly benefit our nation’s warfighters, but Richard S. Wren III has a very personal tie to his work.

“My family members were enlisted full-time. They were deployed overseas. So, my family members were using the equipment we were working on. Being able to do things for the veterans and keeping them out of danger makes working at Tobyhanna special. It gives me a good feeling to know I’m helping our service members.”

Each member of the Wren family echoes those sentiments. To them, working at TYAD offers another opportunity to serve their nation through work they take tremendous pride in.

Russell Wren has worked at TYAD for nearly 20 years, ascending to a leadership position. He aspires to make his father proud through his commitment to our nation. The first thing he did when learning he had attained a leadership role was call his father.

“When I was selected for my first leadership position, I took great pride in that. Being able to carry on my father’s legacy is important to me. He has supported and empowered us throughout our lives. I want to make him proud through my work,” said Russell Wren.

Russell Wren considers it a privilege to be a member of Team Tobyhanna.

“Make what you do today matter because you gave up a day of your life to do it. Working at TYAD helps me fulfill that mantra because what we do here at TYAD has a direct impact on the soldiers in the field and saves people’s lives. That is all the motivation I need to come to work every day, and I take great pride in working at TYAD.”

The values of service remain strong in the family, and the next generation may soon be serving the depot.

With a lineage of service dating back to the birth of the nation, one may think that service was the greatest value Richard S. Wren instilled in his children and grandchildren. However, the only value he and his wife impressed more than service was family.

“Growing up we all wanted to be like my grandfather. We all wanted to serve, we all wanted to be like him. His and my grandmother’s relationship – they’re together 65+ years – the foundation they created in our family and imprinted on our lives was important because they taught us that family is everything, and no matter what your family comes first. And I personally think that his time in the military and what he went through helped him develop that skill to just be the greatest family man that you can ever be,” said Jacob Wren.

In a word, Russell Wren and the entire Wren family is grateful to have such a strong role model and example who profoundly touched each of their lives.

“I get emotional when I think of what my father, as a young man, had to endure during his service to our nation. He is the greatest man I have ever had the privilege to know, and I feel the deepest sense of gratitude to be able to call that man Dad,” said Russell Wren.

Through his commitment to service and family, Richard S. Wren has earned the admiration and respect of his family and his nation. The nation thanks the Wren family for their undying allegiance to the U.S. and their tireless dedication to service in support of the ideals we hold dear and the warfighters who courageously protect them every day.

Nick Bagdonis Promoted to Project Executive for Quandel Energy Solutions

Quandel Energy Solutions, a leading provider of building solutions and energy savings services, is pleased to announce the promotion of Nick Bagdonis to the position of project executive. With 15 years in the industry, including extensive experience in maintenance and engineering management, Bagdonis joined Quandel Construction Group in 2022 as a senior project manager, quickly becoming an invaluable asset to the company.

In his new role as project executive, Bagdonis will spearhead and coordinate all facets of energy-saving construction projects, demonstrating his proficiency in planning, scheduling, and budget management. His keen focus on delivering projects safely, on time, within budget, and exceeding customer expectations has earned him this well-deserved promotion.

Quandel Energy Solutions recognizes Bagdonis as a results-driven leader with a proven track record of successfully completing projects to the satisfaction of clients. Rob Strickler, Vice President of Quandel Energy Solutions, commented, “Nick’s promotion to project executive is a testament to his ability to identify innovative solutions that enhance energy efficiency for our clients. His dedication to exceeding project owner expectations and leading our team toward continued success is unparalleled.”

Bagdonis brings a wealth of knowledge to his role and possesses numerous industry certifications. He is an active participant in various industry and community organizations, showcasing his commitment to professional development and community engagement.

“Quandel is proud to have Nick on our team, and we are confident that his expertise and leadership will drive our energy-saving construction projects to new heights,” continued Strickler. “We eagerly anticipate his success in this pivotal role and helping to drive the growth of this business unit.”

Quandel Energy Solutions is enthusiastic about the promising future with Bagdonis in this elevated role, leading the team toward further accomplishments and innovations in the field of energy-saving construction projects.

Geisinger Medical Centers Nationally Recognized for Quality Heart Attack Care

Geisinger Community Medical Center in Scranton, Geisinger Medical Center in Danville and Geisinger Wyoming Valley Medical Center in Wilkes-Barre have received the American Heart Association’s Mission: Lifeline® STEMI Receiving Center Gold Plus recognition.

The three Joint Commission/American Heart Association Comprehensive Heart Attack Centers and Mission: Lifeline Receiving Centers were recognized for delivering rapid, evidence-based care to people having the type of heart attack known as ST elevation myocardial infarction (STEMI), which is known to be more severe and dangerous than other types of heart attacks.

All three medical centers are perennial recipients of Mission: Lifeline honors, but this is Geisinger Community Medical Center’s first year achieving Gold Plus recognition.

Each year, about 285,000 people in the U.S. experience a STEMI,caused by a complete blockage in a coronary artery. Like all heart attacks, this requires timely treatment to restore blood flow as quickly as possible.

“When one of our patients is having a heart attack, it’s important that we move quickly, move together, and deliver treatment that gives them the best chance at survival and recovery,” said Cinde Bower-Stout, manager of cardiovascular quality at Geisinger.

Mission: Lifeline is a national, community-based initiative improving systems of care for patients with STEMI, non-ST elevation myocardial infarction (NSTEMI), stroke and out-of-hospital cardiac arrest.

Recognition as a Mission: Lifeline Receiving Center is designed to showcase hospitals that provide 24/7 support for STEMI. Accredited facilities coordinate with a network of referring hospitals and emergency medical services to provide guideline-directed STEMI and NSTEMI care.

“We are dedicated to always improving coordination among our teams and always delivering the latest, evidence-based care to heart attack patients,” said Vishal Mehra, M.D., Ph.D., director of cardiovascular quality at Geisinger. “The Mission: Lifeline initiative helps us achieve our goals by offering guidelines to follow on a daily basis as we focus on making better health easier for our patients.”

Marywood University Presidential Society Dinner Recognizes Benefactors

At its recent Presidential Society Dinner, Marywood University recognized its major benefactors for their support and commitment.

As part of this evening of recognition, Virginia Collins Shields, Jacksonville, Fla., an alumna and trustee emerita of Marywood University, was announced as the Presidential Mission Medal recipient. Mission medal recipients are servant leaders who embrace a commitment to Marywood’s core values of Catholic identity, respect, empowerment, service, and excellence. They inspire others to serve and advance Marywood’s commitment to excellence and empowerment through education.

Shields, a member of Marywood’s Class of 1948, has been an integral part of Marywood’s life and longevity, with a remarkable record of extraordinary service that began as a campus leader during her student years and continued throughout her professional career—first as a teacher, then as a research analyst, and, finally, as a highly successful business partner to her late husband, Paul. To her Marywood baccalaureate degree, she added graduate study at Alfred University.

For many decades, Mrs. Shields has given of her time, energy, and resources through vital capital gifts, numerous alumni activities, and notable service on the Marywood Board of Trustees. Her tenure on the board—from 1993 through 2002—occurred during a time of extensive growth. Serving as board chairperson, she was the first Marywood alumna named to this crucial role. When she retired from the Board, Marywood recognized her accomplished leadership by naming her a Trustee Emerita, a distinguished honor bestowed upon those whose impact on Marywood and its students has been transformational. Her abundant generosity and far-reaching vision can be seen in the Shields Center for Visual Arts, which demonstrates her enduring support of the arts. Mrs. Shields has been recognized by Marywood University with the Presidential Medal, the Centennial Medal, and, along with her class, the Sister Denis Donegan Award for Long Term Service to Marywood.

Additionally, Mrs. Shields is a member of the St. Alphonsus Society, which honors the University’s most faithful benefactors. This year, Olin and Rhoda Hamill Cramer ’47 andthe Sordoni Family Foundation also were inducted into the Saint Alphonsus Society, which honors benefactors whose lifetime commitments to Marywood have reached or exceeded $500,000.

Scranton Named in U.S. News & World Report’s 2024 Best Places to Retire

U.S. News & World Report, the global authority in retirement rankings and consumer advice, has named Scranton as one of the 2024 Best Places to Retire. Scranton ranks 4th in the overall rankings.

“It’s gratifying to have U.S. News confirm what we here in Scranton know – this is a welcoming, nurturing community with housing options that are more achievable than most other places,” said Mayor Paige G. Cognetti. “We’re honored to be named a ‘Best Place to Retire’ and will keep working hard to offer even more value to existing and new residents.”

This year’s list evaluated the country’s 150 most populous metropolitan areas based on how well they meet Americans’ expectations for retirement, with measures including affordability, health care, desirability, and overall happiness.

“The decision of where to spend your retirement years requires much consideration for many retirees,” says Beverly Harzog, personal finance expert at U.S. News. “The Best Places to Retire rankings provides support to retirees by highlighting places that most meet their wants and needs.”

The six measures factored into this year’s rankings were weighted based on a public survey of individuals across the U.S. who are at or approaching retirement age (45 and older) to find out what matters most to people when they’re considering where to retire. Data sources include the U.S. Census Bureau, FEMA National Risk Index, the Federal Bureau of Investigation, the Bureau of Labor Statistics, Sharecare and U.S. News’ Best Hospitals rankings.

This year, affordability is most heavily weighted out of the six factors in the 2024 Best Places to Retire methodology, including happiness, health care quality, retiree taxes, desirability, and job market ratings.

Marywood University Art Galleries Announce Exhibits

Three Marywood art galleries will feature new exhibits, beginning Sat., Nov. 11. The exhibits, opening receptions, and gallery talks are free and open to the public. All galleries are located in the Shields Center for Visual Arts on Marywood’s campus.

Mahady Gallery: Senior Exhibit – December Graduates 2023, Sat., Nov.11 – Fri., Dec. 15
Senior Exhibit December Graduates
, an exhibition by Marywood Art Department graduates, showcases a diverse range of styles, mediums, and techniques. The opening reception is set for Sat., Nov. 11, from 2-5 p.m. A gallery talk will take place on Sat., Nov. 11, at 2 p.m. Graduating students include: Caitlyn M. Brown ( BA Art Therapy), Bernadette Fertal ( BA Art Therapy), Maeve K. Flick ( BA Art Therapy), Richele Gallagher,( BA Art Therapy), Ava Jones ( BA Art Therapy), Julianne Marchione (BA Art Therapy), Maxwell Christian (BFA 2D), and Shannon Sohl (BFA Graphic Design). 

Maslow Study Gallery for Contemporary Art: Land Use[d] in the Maslow Study Gallery for Contemporary Art, Sat., Nov. 11 – Fri., Dec. 15
Land Use[d] is an exhibition featuring a selection of Maslow Collection artists, who employ photography, serigraphy, painting, sculpture, text, architecture, and the body to generate commentary and reflection on the use of land and human relationships to the planet. The opening reception is set for Sat. Nov. 11, from 2-5 p.m. A gallery talk will take place on Sat., Nov. 11, at 2 p.m. Much of the work displays an overarching concern for the longevity and preservation of natural ecosystems and resources. Artists include Robert Barry, Bernd and Hilla Becher, Ant Farm, Hamish Fulton, Patricia Johnson, Scott Kelley, Steve Poleskie, Robert Smithson, and Andy Warhol.

Suraci Gallery: Matt Catanzaro: Face Reality, Sat., Nov 11- Fri., Dec. 15

Matt Catanzaro: Face Reality features gestural and vivid portraiture paintings reflecting Matt Catanzaro’s mixed use of Expressionism, Cubism and Surrealism.The opening reception is set for Sat., Nov. 11, from 2-5 p.m. A gallery talk will take place Sat., Nov. 11, at 2 p.m.  Also featured are Catanzaro’s complete Grotesque Holiday Portrait Series, consisting of 18 large-scale holiday-themed acrylic and marker paintings. Matt Catanzaro earned his BFA in Design, along with minors in art history, illustration, and philosophy, from Marywood University.

Northeast Rehab Supports Team Allied Services for 14th Year

Northeast Rehab recently presented Allied Services Integrated Health System with a check for $15,000, their contribution to the Team Allied Services and You campaign.  In the 14 years Northeast Rehab has joined the campaign as a major sponsor, it has donated more than $210,000 to improve the lives of patients and residents at Allied Services.  

“Our practice’s long-standing support of Allied Services has achieved great results for everyone involved and most importantly for patients who have utilized technology and services developed through the program,” noted Lisa Monahan-Gatto, CEO.  “The partnership has been wonderful for all involved.” 

Team Allied Services and You features fundraising and awareness-raising activities that culminate with a team of more than 60 community volunteers participating in the TCS New York City Marathon. Justine Metcho, DPM, of North Abington Township, was selected to represent Northeast Rehab in the 2023 TCS New York City Marathon. Since early summer, Justine has raised more than $7,000 with the support of friends, family, patients, and Northeast Rehab. 

The monies raised from businesses, individual donors, and sponsors like Northeast Rehab, allow Allied Services to invest in rehab technology and programs that benefit children and adults with disabilities, life-changing injuries, and illnesses in Northeast and Central Pennsylvania. To learn more, call 570-348-1407 or visit alliedservices.org/teamallied.  

Marywood University Announces New Faculty Members

Marywood University deans, Shelby W. Yeager, M.Ed., LAT, ATC, CSCS and James J. Sullivan, M.Arch, RA, AIA, recently announced new faculty members for the 2023-2024 academic year. By program, new faculty include:

Art

Christina Taylor, assistant professor of practice and director of the art therapy program. She earned her bachelor of science degree in elementary and art education from Sam Houston University, Huntsville, Texas. She holds a master’s degree in art therapy from The College of New Rochelle, New Rochelle, N.Y. Ms. Taylor has also completed a post-master’s certification through Sandplay Therapists of America and is currently in the process of becoming a Registered Sandplay Therapist.

Communication Sciences and Disorders

Jenny A. Havlovick, Ph.D., tenure-track assistant professor. Dr. Havlovick earned a Ph.D. in communication sciences and disorders from the University of Cincinnati in Cincinnati, Ohio; a master’s degree in speech-language pathology and a bachelor of science degree in communicative disorders from the University of Wisconsin-Stevens Point in Stevens Point, Wisc.

Matthew Devivo, instructor of practice. Mr. Devivo earned a master’s degree in speech-language pathology and a bachelor’s degree in communication sciences and disorders from Marywood University in Scranton, Pa.

Nursing, Respiratory Therapy, and Healthcare Administration

Nadine Burton, instructor of practice. Ms. Burton earned her master of science degree in nursing education from the State University of New York at Delhi in Delhi, N.Y., and her bachelor of science in nursing degree from Marywood University in Scranton, Pa.

Nutrition and Dietetics

Stephanie Bender, instructor of practice. Ms. Bender is currently pursuing her Ph.D. in leadership and administrative studies at Marywood University in Scranton, Pa. She also earned her graduate and undergraduate degrees in nutrition and dietetics from Marywood.

Physician Assistant

Lindsey Cohen-Whitaker, assistant professor of practice. Ms. Cohen-Whitaker earned her master of science in physician assistant studies from Marywood University in Scranton, Pa. She earned her Bachelor of Science degree in Early and Primary Teacher Education, summa cum laude, from the University of Scranton in Scranton, Pa.

Psychology and Counseling

Cheryl Banull, Ph.D., per annum instructor (half-time). Dr. Banull earned her Ph.D. in school psychology and her master’s degree in educational psychology from Loyola University-Chicago in Chicago, Ill. She earned her bachelor’s degree in psychology at the Pennsylvania State University and is a certified school psychologist in Pennsylvania.

Gail Clark, M.A., per annum instructor. Ms. Clark earned her master of arts degree in psychology and bachelor of science degree in psychology, summa cum laude, at Marywood University in Scranton, Pa.

Leah Popple, Psy.D., assistant professor of practice. Dr. Popple earned her Psy.D. and master’s degree in clinical psychology from Marywood University in Scranton, Pa., and her bachelor’s degree in psychology from the Pennsylvania State University in State College, Pa.

Jeff Rutter, Psy.D., professor and director of clinical training. Dr. Rutter earned his Psy.D. in clinical psychology from Wright State University in Dayton, Ohio, his M.T.S. in Theology from Vanderbilt University in Nashville, Tenn., and his B.A. in psychology/religious studies from the University of Tennessee in Knoxville, Tenn.

Jenny Wildrick, Ph.D., assistant professor of practice. Dr. Wildrick earned a Ph.D. in counselor education and supervision from Capella University, in Minneapolis, Minn.; a master of science degree in rehabilitation counseling from the University of Scranton in Scranton, Pa.; and a bachelor of arts degree in psychology from Keystone College in La Plume, Pa.

School of Architecture

Arturo Pavani, Ph.D., assistant professor. Dr. Pavani earned his Ph.D. Stipendiary Fellowship, M.Arch scholarship, and B.ArchSc at Politecnico di Torino (Polytechnic University of Turin).

Ryan Scavnicky, M.S., assistant professor. Mr. Scavnicky earned a master of science degree in design theory and pedagogy from the Southern California Institute of Architecture in Los Angeles, Calif., as well as master of architecture and bachelor of science in architecture degrees from the University of Cincinnati in Cincinnati, Ohio.         

School of Business and Global Innovation

Loreen Powell, Ph.D., professor. Dr. Powell earned a Ph.D. in information systems and a master of science degree in management information systems (MIS) from Nova Southeastern University in Fort Lauderdale, Fla., as well as a bachelor of science in management with a concentration in accounting from East Stroudsburg University in East Stroudsburg, Pa.

School of Education

Suzanne Galella, Ed.D., associate professor and director of the School of Education. Dr. Galella earned her doctorate in educational leadership in higher education from Wilkes University in Wilkes-Barre, Pa. She earned a master’s degree from Marywood University in Scranton, Pa., and a bachelor’s degree in English/criminal justice from the University of Scranton in Scranton, Pa.

School of Social Work

Kaitlin Anderle, M.S.W., assistant professor of practice and director of the BSW Program. Ms. Anderle earned her master of social work and bachelor of social work degrees from Marywood University in Scranton, Pa.

Michelle Ostroski, M.S.W., assistant professor of practice. Dr. Ostroski earned a doctor of education in education and leadership in healthcare from Nebraska Methodist College in Omaha, Neb.; a master of social work degree with a specialization in behavioral health from Marywood University in Scranton Pa.; and a bachelor of science degree in education, secondary education, and English from Temple University in Philadelphia Pa.

Susan Lettera, M.S.W., instructor of practice and MSW Lehigh Valley Program Coordinator. Ms. Lettera earned a master of social work degree from Widener University in Chester, Pa., and a bachelor’s degree in social work from Marywood University in Scranton, Pa.

Science, Math, and Computer Science

Kimberly Stanek, Ph.D., per annum instructor. Dr. Stanek earned a Ph.D. in chemistry from the University of Virginia in Charlottesville, Va., and her bachelor of science degree in biochemistry and bachelor of arts degree in chemistry from the University at Buffalo in Buffalo, N.Y.

Wayne Bank Announces Third Quarter Earnings

James O. Donnelly, 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, 2023 of $4,119,000, which represents a decrease of $3,990,000, from the $8,109,000 earned in the same three-month period of 2022.

The decrease in earnings was due to a $3.1 million decrease in net interest income, an $882,000 increase in the provision for credit losses, and a $1.1 million increase in total other expenses during the three-months ended September 30, 2023.

For the three months ended September 30, 2023, earnings per share (fully diluted) were $0.51, which represents a decrease from the $1.00 earned in the three months ended September 30, 2022.

The annualized returns on average assets and average tangible equity for the three-month period ended September 30, 2023, were 0.76% and 11.22%, respectively, compared to 1.57% and 21.48% for the three-month period ended September 30, 2022.

Net income for the nine months ended September 30, 2023, totaled $16,405,000, which is $5,688,000 lower than the same period of 2022. The decrease in net income includes a $4,390,000 decrease in net interest income, a $2.0 million decrease in total other income, and a $1.9 million increase in total other expenses during the nine months ended September 30, 2023.

Earnings per share (fully diluted) for the nine months ended September 30, 2023, totaled $2.03 per share compared to $2.71 per share for the nine
months ended September 30, 2022.

As of September 30, 2023, total assets were $2.179 billion, loans receivable were $1.611 billion, total deposits were $1.747 billion and stockholders’ equity was $164.7 million.

For the three months ended September 30, 2023, net interest income, on a fully taxable equivalent basis (fte), totaled $15,224,000, which represents a decrease of $3,145,000, compared to the three months ended September 30, 2022. Net interest margin (fte) for the three months ended September 30, 2023 was 2.94%, compared to 3.74% for the three months ended September 30, 2022. Net interest income (fte) for the nine months ended September 30, 2023 totaled $47,328,000, a decrease of $4,406,000, compared to the nine months ended September 30,2022, due primarily to the increased cost of interest-bearing liabilities in excess of the increase in the yield earned on interestearning assets. The net interest margin (fte) for the nine months ended September 30, 2023 was 3.09%, compared to 3.52% for the nine months ended September 30, 2022.

For the three months ended September 30, 2023, the Company recorded a provision for credit losses in the amount of $882,000 compared to $0 in the three-month period ended September 30, 2022. The increase in the provision for credit losses was required to replenish the allowance for credit losses to a level deemed appropriate after recognizing $2.3 million of credit losses during the current period. The current period losses include a $2.0 million charge-off resulting from deterioration in one large commercial relationship. The remaining balance of the relationship was transferred to nonperforming status, resulting in an increase in nonperforming loans and nonperforming assets. For the nine-month period ended September 30, 2023, the Company recorded a release of provision for credit losses in the amount of $568,000, compared to a provision of $600,000 in the nine-month period ended September 30, 2022.

Total other income for the three months ended September 30, 2023 was $2,306,000, compared to $2,178,000 for the three months ended September 30, 2022. For the nine months ended September 30, 2023, total other income was $6,001,000, compared to $8,006,000 in the same period of 2022. The decrease was due primarily to income recognized in 2022 on previously acquired purchased impaired loans that were carried at a discount.

Total other expenses were $11,276,000 for the three months ended September 30, 2023, compared to $10,139,000 for the three months ended September 30, 2022. For the nine months ended September 30, 2023, total other expenses were $32,649,000, compared to $30,768,000 for the nine months ended September 30, 2022. The increase was due primarily to a $1,069,000 increase in salaries and employee benefit costs during
the nine months ended September 30, 2023.

Mr. Donnelly commented, “Our results for the first nine months of 2023 reflect decreasing net interest spreads due to rising interest rates, which have impacted our cost of interest-bearing liabilities more than the increase in yield earned on interest-earning assets. We continue to compare favorably to peer banks who have also reported a reduction in their financial performance. We will continue to search out opportunities to maintain our position as a premier community bank, and to serve our local communities with their financial needs. We appreciate the opportunity to serve our expanded base of stockholders and customers.”

Norwood Financial Corp is the parent company of Wayne Bank, which operates from fourteen offices throughout Northeastern Pennsylvania and fifteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. The Company’s stock trades on the Nasdaq Global Market under the symbol “NWFL”.

Forward-Looking Statements: The Private Securities Litigation Reform Act of 1995 contains safe harbor provisions regarding forward-looking statements. When used in this discussion, the words “believes”, “anticipates”, “contemplates”, “expects”, “bode”, “future performance” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected. Those risks and uncertainties include changes in federal and state laws, changes in interest rates, the risks and uncertainty posed by, and the continued effect, and impact of, the COVID-19 pandemic on the economy and the Company’s results of operation and financial condition, our ability to maintain strong credit quality metrics, our ability to have future performance, our ability to control core operating expenses and costs, demand for real estate, government fiscal and trade policies, cybersecurity and general economic conditions. The Company undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Non-GAAP Financial Measures: This release references net interest income on a fully taxable-equivalent basis (fte), which is a non-GAAP (Generally Accepted Accounting Principles) financial measure. Fully taxable-equivalent net interest income was derived from GAAP interest income and net interest income using an assumed tax rate of 21%. We believe the presentation of net interest income on a fully taxable equivalent basis ensures comparability of net interest income arising from both taxable and tax-exempt sources, and is consistent with industry
practice.