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Wednesday, December 17, 2025

Equity Corporate Actions Alert #2025 - 692
Information Regarding the Merger of PB Bankshares, Inc. (PBBK)

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  • Industry Announcement

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At a special meeting held on December 10, 2025, the shareholders of PB Bankshares, Inc. (PBBK) approved the proposed merger with Norwood Financial Corp (NWFL). The merger is tentatively scheduled to close prior to the market open on January 5, 2026. In anticipation of the closing, the stock will be halted immediately following the after-hours session at or around 7:50 p.m. on January 2, 2026. If the merger closes as anticipated, the stock will remain halted on the day of closing (January 5th) and will be suspended effective January 6, 2026. The details are as follows:

Company Name/Issue: PB Bankshares, Inc. Common Stock
CUSIP#: 69318V103
Symbol: PBBK
Anticipated Last Trading Date: January 2, 2026
Anticipated Marketplace Effective Date for Suspension: January 6, 2026
Merger Consideration: Subject to Election & Proration; 0.785 of a share of Norwood Financial Corp Common Stock (NWFL) OR $19.75 in cash for each share held. 80% of PBBK shares will be converted to NWFL shares & 20% in cash.

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