Norwood Financial Corp added to Russell 2,000 Index
Wayne Bank parent among the largest 2,000 US stocks Honesdale Norwood Financial Corp, the parent corporation of Wayne Bank, was added to the and Russell 2,000 Index this July. Russell Investments reconstituted its U.S. and global equity indexes in June. Norwood Financial Corp’s stock trades on the NASDAQ Global Market under the symbolNWFL. The annual reconstitution of the Russell 3,000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2,000. Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. Norwood Financial Corp. will hold its membership until Russell reconstitutes its indexes in June 2010. The Russell 2,000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2,000 Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. Norwood Financial Corp.’s total market capitalization as of June 30, 2009 was $86.1 million. The Russell 2,000 is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. “We are pleased with our inclusion in this index, which reflects our continued positive momentum,” said William W. Davis Jr., President and CEO of Wayne Bank. “Russell is an industry leader for stock indexes, and we expect our participation will generate greater interest in our stock.” Russell Investments is a global investment company with $136 billion in assets, under management, as of March 31, 2009. Russell serves individual, institutional and advisor clients in more than 40 countries and provides investment solutions including mutual funds, retirement investments, institutional asset management, implementation services and global stock market indexes. Russell is world-renowned for its depth of manager research, quality of manager selection and access to some of the worlds leading investment managers. It helps investors of all sizes put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Norwood Financial Corp. operates 11 Community Branch offices in Northeastern Pennsylvania in Wayne, Pike and Monroe counties through its subsidiary - Wayne Bank. The corporate office is located in Honesdale, PA and has been in operation since 1871. As of March 31 2009, total assets were $511.4 million with loans outstanding of $351.4 million, deposits of $370.4 million and total stockholders’ equity of $60.2 million.