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) provides comprehensive banking services through its subsidiaries Jersey Shore State Bank and Luzerne Bank, serving North Central and Northeastern Pennsylvania communities. This news hub offers investors and stakeholders centralized access to verified updates about this NASDAQ-listed regional financial institution.
Find timely announcements covering earnings reports, leadership changes, strategic initiatives, and regulatory developments. Our curated collection includes press releases on commercial lending expansions, mortgage service updates, and community partnership programs that demonstrate PWOD's commitment to regional economic growth.
Key content categories include quarterly financial results, merger/acquisition activity, dividend declarations, and operational milestones. Bookmark this page for direct access to primary source materials that inform decisions about this multi-channel banking operator.
Penns Woods Bancorp (PWOD) reported a net income of $7.7 million for the six months ending June 30, 2022, up from $7.0 million in 2021. Basic and diluted earnings per share increased to $1.08 from $1.00. Core earnings rose to $7.8 million, reflecting improvements in net interest margin, which reached 3.03%. However, the company faced challenges, including after-tax securities losses and a $201,000 loss from a branch closure. Total assets decreased to $1.9 billion, while deposits rose to $1.6 billion.
Penns Woods Bancorp, Inc. (NASDAQ:PWOD) has announced a cash dividend of $0.32 per share for the second quarter of 2022. This dividend is payable on June 21, 2022, to shareholders recorded as of June 7, 2022. The company operates through its subsidiaries, Jersey Shore State Bank and Luzerne Bank, providing a range of banking services in North Central and North Eastern Pennsylvania.
Penns Woods Bancorp reported a net income of $3.4 million for Q1 2022, maintaining the same as Q1 2021, with earnings per share of $0.49. Key factors included an after-tax securities loss of $142,000 and a $201,000 loss due to branch closures. The net interest margin rose to 2.93% from 2.88% year-over-year, driven by lower interest rates on deposits. Total assets increased by $20.6 million to $1.9 billion, while deposits grew by $48.0 million. Shareholders’ equity rose to $168.4 million.
Penns Woods Bancorp, Inc. (NASDAQ: PWOD) announced a new share repurchase plan authorized by its Board of Directors, allowing for the buyback of up to 354,000 shares, or 5% of outstanding shares, over a year ending April 30, 2023. This plan replaces the previous one that expired on April 30, 2022. The buyback will occur at prevailing market prices, aiming to enhance shareholder value by potentially increasing stock price. Shares will be held in Treasury following repurchase.
On February 22, 2022, Penns Woods Bancorp, Inc. (NASDAQ:PWOD) announced a first-quarter cash dividend of $0.32 per share. This dividend will be payable on March 22, 2022, to shareholders of record as of March 8, 2022. Penns Woods Bancorp operates Jersey Shore State Bank and Luzerne Bank, providing retail, commercial, mortgage, and financial services throughout North Central and North Eastern Pennsylvania. This dividend declaration highlights the company's commitment to returning income to its shareholders.
Penns Woods Bancorp reported a net income of $16.0 million for 2021, up from $15.2 million in 2020, resulting in earnings per share of $2.27. The increase was driven by a decrease in loan loss provisions, which fell by $2.0 million. Core earnings also rose to $15.5 million for the year, compared to $13.9 million in 2020. Total assets grew to $1.9 billion, with deposits climbing $126.9 million to $1.6 billion. However, securities gains decreased by $749,000 year-over-year. The bank maintained strong capital ratios, with a book value of $24.37 per share.
Penns Woods Bancorp, Inc. (NASDAQ:PWOD) announced a fourth quarter 2021 cash dividend of $0.32 per share, payable on December 21, 2021. Shareholders of record as of December 7, 2021 will receive the dividend. The company operates Jersey Shore State Bank and Luzerne Bank, providing retail, commercial banking, and other financial services in North Central and North Eastern Pennsylvania.
Penns Woods Bancorp (NASDAQ: PWOD) reported a net income of $11.2 million for the nine months ending September 30, 2021, with EPS of $1.58. This reflects a slight decrease from $11.3 million and $1.61 in the same period of 2020. Revenue was impacted by a fall in after-tax securities gains, decreasing from $975,000 to $236,000. Loan loss provisions decreased to $940,000 compared to $2.0 million in 2020. Total assets increased by $70 million to $1.9 billion. Non-performing loans decreased to 0.58% of total loans.
Penns Woods Bancorp, Inc. (NASDAQ:PWOD) has declared a cash dividend of $0.32 per share for the third quarter of 2021. This dividend will be payable on September 21, 2021, to shareholders of record as of September 7, 2021. The company, which operates Jersey Shore State Bank and Luzerne Bank, serves North Central and Northeastern Pennsylvania through various banking services. This action reflects the company's ongoing commitment to providing returns to its shareholders.
Penns Woods Bancorp, Inc. reported a net income of $7.0 million for the six months ended June 30, 2021, with earnings per share of $1.00. This compares to $6.8 million in net income for the same period in 2020. The decrease in after-tax securities gains impacted the results, with a reduction from $156,000 to $111,000 for the quarter. Loan loss provisions decreased by $530,000 for the first half of 2021. Total assets rose to $1.9 billion, while deposits increased by $89.4 million, driven by PPP and stimulus funding.
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