Norwood Financial Corp. in Pennsylvania is taking a break from the automobile leasing business.

Unhappy with the shallow profit margins it has been generating in the sector, the Honesdale-based bank said in a quarterly report filed with the Securities and Exchange Commission that it is no longer signing new leases. Norwood, which got into automobile leasing in April 1996, will continue to honor the terms on the 33 vehicles it has out.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.