Welcome to our dedicated page for Penns Woods Bancorp news (Ticker: PWOD), a resource for investors and traders seeking the latest updates and insights on Penns Woods Bancorp stock.
Penns Woods Bancorp, Inc. (PWOD) historically functioned as a regional bank holding company in the commercial banking industry, overseeing Jersey Shore State Bank and Luzerne Bank in North Central and Northeastern Pennsylvania. Its news flow, as reflected in public press releases and SEC reports, covered both ongoing financial performance and the significant corporate events that reshaped the company’s status.
Before its acquisition, Penns Woods regularly issued earnings releases detailing net income, net interest margin, provisions for credit losses, loan growth, deposit trends, and shareholders’ equity. These updates highlighted areas such as commercial loan growth, indirect auto lending, use of brokered deposits to fund portfolio expansion, and campaigns to attract time deposits. The company also announced quarterly cash dividends, with board-approved dividend amounts and payment dates disclosed in separate news items.
A major focus of more recent PWOD news is the merger with Northwest Bancshares, Inc. Joint announcements in December 2024 described the Agreement and Plan of Merger under which Northwest would acquire Penns Woods in an all-stock transaction. Subsequent releases in April 2025 reported that regulatory and shareholder approvals had been obtained, and a July 2025 announcement confirmed completion of the merger, along with the merger of Jersey Shore State Bank and Luzerne Bank into Northwest Bank.
For readers reviewing the PWOD news archive, this page provides historical coverage of Penns Woods’ financial results, dividend declarations, and the step-by-step progress of its combination with Northwest Bancshares, Inc. These articles document how the company’s regional banking operations evolved over time and how they were ultimately integrated into Northwest Bank following the July 25, 2025 closing.
Northwest Bancshares (NASDAQ: NWBI) has successfully completed its acquisition of Penns Woods Bancorp (NASDAQ: PWOD) on July 25, 2025. The merger integrates Penns Woods' subsidiary banks, Jersey Shore State Bank and Luzerne Bank, into Northwest Bank's operations.
The strategic acquisition expands Northwest's Pennsylvania presence with 21 additional branch locations across North Central and Northeastern Pennsylvania, bringing its total network to 151 financial centers across Pennsylvania, New York, Ohio, and Indiana. Former Penns Woods CEO Richard A. Grafmyre joins Northwest's Board of Directors, and all acquired branches have been rebranded under the Northwest Bank name following system integration over July 26-27, 2025.
Penns Woods Bancorp (NASDAQ:PWOD) has declared a quarterly cash dividend of $0.32 per share for the second quarter of 2025. The dividend will be paid on June 24, 2025 to shareholders who are on record as of June 10, 2025. The announcement was made by CEO Richard A. Grafmyre.
Penns Woods Bancorp (NASDAQ: PWOD) reported strong Q1 2025 financial results with net income of $7.4 million, compared to $3.8 million in Q1 2024. Basic and diluted earnings per share were $0.97 and $0.95 respectively, up from $0.51 in the previous year.
The company's performance was driven by a $2.4 million increase in net interest income and a negative provision for credit losses of $3.0 million, including a $1.3 million commercial loan recovery. The net interest margin expanded to 3.13% from 2.69% year-over-year.
Total assets reached $2.3 billion, with net loans increasing by $43.3 million to $1.9 billion. Deposits grew by $105.4 million to $1.7 billion. The quarter was impacted by $948,000 in after-tax merger expenses related to the announced acquisition by Northwest Bancshares.
Northwest Bancshares (NWBI) has secured all necessary regulatory and shareholder approvals for its merger with Penns Woods Bancorp (PWOD). The merger includes Penns Woods' subsidiary banks, Jersey Shore State Bank and Luzerne Bank, which will merge into Northwest Bank.
Key approvals include:
- FDIC approval for the subsidiary banks merger
- Pennsylvania Department of Banking and Securities approval for both holding company and bank-level mergers
- Federal Reserve Bank of Cleveland's merger application waiver
- Penns Woods shareholders' approval on April 22, 2025
The merger is expected to be completed in late July 2025.
Penns Woods Bancorp (NASDAQ:PWOD) has declared its first quarter 2025 cash dividend of $0.32 per share, as announced by CEO Richard A. Grafmyre. The dividend will be payable on March 25, 2025 to shareholders who are on record as of March 11, 2025.
Penns Woods Bancorp (NASDAQ: PWOD) reported net income of $17.7 million for the year ended December 31, 2024, with basic and diluted earnings per share of $2.35. The company saw a $3.9 million increase in net interest income year-over-year, while experiencing merger-related expenses of $581,000 due to the announced acquisition by Northwest Bancshares.
Key financial metrics include:
- Q4 2024 net income: $3.7 million ($0.50 per share)
- Return on average assets: 0.80% for 2024
- Return on average equity: 9.14% for 2024
- Net interest margin: 2.83% for 2024
Total assets increased to $2.2 billion, with net loans up $36.9 million to $1.9 billion. Deposits grew by $116.6 million to $1.7 billion, while non-performing loans ratio increased to 0.47% from 0.17% year-over-year. Shareholders' equity rose $13.7 million to $205.2 million, with book value per share at $27.16.
Northwest Bancshares (NWBI) has announced an agreement to acquire Penns Woods Bancorp (PWOD) in an all-stock transaction valued at approximately $270.4 million. Under the deal, PWOD shareholders will receive 2.385 shares of NWBI stock for each PWOD share, valued at $34.44 per share based on NWBI's closing price of $14.44 as of December 16, 2024.
The merger will create a combined entity with over $17 billion in assets, positioning it among the nation's top 100 largest banks. PWOD brings $2.3 billion in assets, $1.7 billion in deposits, and $1.9 billion in loans, along with 24 branch locations across Pennsylvania. The transaction is expected to close in Q3 2025, subject to regulatory and shareholder approvals.
The deal is projected to be 23% accretive to NWBI's 2026 earnings per share, with a tangible book value earn-back period under 3 years.
Northwest Bancshares (NASDAQ: NWBI) has announced an agreement to acquire Penns Woods Bancorp (NASDAQ: PWOD) in an all-stock transaction valued at approximately $270.4 million. The merger will enhance Northwest's presence in North Central and Northeastern Pennsylvania, adding 24 branch locations and creating a combined entity with over $17 billion in pro forma total assets.
Under the agreement, Penns Woods shareholders will receive 2.385 shares of Northwest common stock for each PWOD share, valued at $34.44 per share based on Northwest's closing price of $14.44 as of December 16, 2024. The transaction is expected to be approximately 23% accretive to Northwest's 2026 fully diluted earnings per share, with an expected tangible book value earn-back period under 3 years. The merger is anticipated to close in the third quarter of 2025.
Penns Woods Bancorp (NASDAQ:PWOD) has declared a fourth quarter 2024 cash dividend of $0.32 per share. The dividend will be paid on December 23, 2024, to shareholders who are on record as of December 10, 2024. The announcement was made by CEO Richard A. Grafmyre.
Penns Woods Bancorp (NASDAQ: PWOD) reported strong financial results for Q3 2024. Net income reached $4.8 million for the quarter and $14.0 million for the nine months ended September 30, 2024, compared to $2.2 million and $11.1 million in 2023. Basic and diluted earnings per share were $0.64 for Q3 and $1.86 YTD. The company saw an increase in net interest income of $1.7 million and $2.3 million for the three and nine-month periods. Total assets grew to $2.3 billion, with net loans increasing by $58.0 million to $1.9 billion. Deposits increased by $133.1 million to $1.7 billion.