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. reported developments tied to its historical role as a Pennsylvania bank holding company with banking subsidiaries including Jersey Shore State Bank and Luzerne Bank. Recurring news themes include operating and financial results, quarterly cash dividend declarations, capital-structure disclosures, shareholder voting matters, governance updates, and material agreements.
The company's news record also reflects its completed merger with Northwest Bancshares, Inc., a corporate-status event that changed the public-company profile of PWOD and followed related shareholder and regulatory disclosure activity.
Penns Woods Bancorp achieved a net income of $6.8 million for the six months ended June 30, 2020, with earnings per share of $0.97. This reflects a decline from $8.2 million in 2019. The provision for loan losses increased due to COVID-19, totaling $1.4 million for the six months. Net interest margin decreased to 3.09%, affected by lower yields. Total assets rose $126.9 million to $1.8 billion, and deposits increased by $147.2 million to $1.5 billion. Shareholders' equity rose to $159.6 million.
Penns Woods Bancorp has declared a second quarter 2020 cash dividend of $0.32 per share, a $0.01 increase compared to the second quarter 2019, adjusted for a stock split. The dividend is payable on June 23, 2020 to shareholders of record on June 9, 2020. Penns Woods Bancorp operates through its subsidiaries, Jersey Shore State Bank and Luzerne Bank, serving areas in Pennsylvania with a variety of banking services. The company's stock trades on NASDAQ under the symbol PWOD.
Summary not available.