Norwood Financial Corp. in Honesdale, Pa., has received approval from shareholders of North Penn Bancorp Inc. to buy the Scranton, Pa., company.
The $537 million-asset Norwood said late Friday that 98% of the votes cast during a special meeting supported the sale.
Shareholders of North Penn can choose between $19.12 in cash or 0.6829 shares of Norwood for each North Penn share.
Buying the $163.9 million-asset North Penn would allow Norwood to expand in Monroe County and into Lackawanna County.