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Penns Woods Bancorp Cleans Up S-8s Post-Merger, Withdraws Unsold Stock

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
S-8 POS

Rhea-AI Filing Summary

Penns Woods Bancorp, Inc. (PWOD) has filed Post-Effective Amendment No. 1 to five Form S-8 registration statements to deregister a total of 2,552,500 shares of common stock previously reserved for various equity and director compensation plans. The action follows the July 25 2025 merger in which PWOD was absorbed into Northwest Bancshares, Inc. (NWBI), making NWBI the surviving entity. Because PWOD no longer exists as a separate issuer, all ongoing offers under the affected plans have been terminated, and any unsold shares and related plan interests are being formally removed from SEC registration. The filing, signed by NWBI CFO Douglas M. Schosser on July 28 2025, satisfies PWOD’s undertaking to withdraw unsold securities once plan offerings cease.

  • Affected plans: 2020 Non-Employee Director Compensation (100k shares), 2020 Equity Incentive (750k), 2014 Equity Incentive (602.5k), 2006 ESPP (1,000k), 1998 Stock Option (100k).
  • No financial results or guidance are provided; the amendment is strictly administrative to close out registration statements post-merger.

Positive

  • Merger completion confirmed: Filing verifies that the PWOD–Northwest Bancshares merger closed on 25 Jul 2025.

Negative

  • Legacy incentive plans terminated: All PWOD equity compensation programs are discontinued, which could limit previously anticipated share-based awards.

Insights

TL;DR: Routine post-merger cleanup; neutral capital-market impact.

This amendment simply disinfects the regulatory record after PWOD’s merger into Northwest Bancshares. By deregistering unsold shares, the combined company avoids needless reporting obligations and eliminates dormant share reserves tied to legacy incentive plans. There is no dilution, cash flow, or earnings effect—all plan-based issuances ceased at merger close. Investors should view the filing as procedural, confirming legal completion of the deal and housekeeping of former PWOD securities, rather than a catalyst for Northwest’s valuation.

 

 

As filed with the Securities and Exchange Commission on July 28, 2025

 

  Registration No. 333-238749
  Registration No. 333-238748
  Registration No. 333-205722
  Registration No. 333-134585
  Registration No. 333-58682  

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

POST-EFFECTIVE AMENDMENT NO. 1
TO

 

FORM S-8 REGISTRATION STATEMENT NO. 333-238749
FORM S-8 REGISTRATION STATEMENT NO. 333-238748
FORM S-8 REGISTRATION STATEMENT NO. 333-205722
FORM S-8 REGISTRATION STATEMENT NO. 333-134585
FORM S-8 REGISTRATION STATEMENT NO. 333-58682

 

UNDER THE SECURITIES ACT OF 1933

 

PENNS WOODS BANCORP, INC.

(Exact name of registrant as specified in its charter)

 

Pennsylvania    23-2226454
(State or other jurisdiction of
incorporation or organization)
  (I.R.S. Employer
Identification Number)

 

300 Market Street, P.O. Box 967
Williamsport, Pennsylvania 17703-0967

(Address, including zip code, of registrant’s principal executive offices)

 

Penns Woods Bancorp, Inc. 2020 Non-Employee Director Compensation Plan
Penns Woods Bancorp, Inc. 2020 Equity Incentive Plan
Penns Woods Bancorp, Inc. 2014 Equity Incentive Plan
Penns Woods Bancorp, Inc. 2006 Employee Stock Purchase Plan
Penns Woods Bancorp, Inc. 1998 Stock Option Plan
(Full titles of the plans)

 

Douglas M. Schosser 
Chief Financial Officer 
Northwest Bancshares, Inc.
as successor by merger to Penns Woods Bancorp, Inc. 
3 Easton Oval Street, Suite 500 
Columbus, Ohio 43219
(814) 726-2140

(Name, address, and telephone number, including area code, of agent for service)

 

Copies to:

Michael Dailey, Esq.
Dinsmore & Shohl LLP 
191 W. Nationwide Blvd., Suite 200
Columbus, Ohio 43215 
(614) 628-6921

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ¨   Accelerated filer ¨
Non-accelerated filer x   Smaller reporting company x
Emerging growth company ¨      

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ¨

 

 

 

 

 

 

DEREGISTRATION OF SECURITIES

 

Penns Woods Bancorp, Inc., a Pennsylvania corporation (the “Registrant”), is filing with the U.S. Securities and Exchange Commission these post-effective amendments (the “Post-Effective Amendments”) to terminate all offerings under the following Registration Statements on Form S-8 (the “Registration Statements”) and to withdraw and deregister all shares of common stock, $5.55 par value per share, of the Registrant (the “Shares”) previously registered under the Registration Statements, together with any and all plan interests and other securities registered thereunder:

 

Registration Statement No. 333-238749, filed on May 28, 2020, relating to the registration of 100,000 Shares issuable under the Penns Woods Bancorp, Inc. 2020 Non-Employee Director Compensation Plan;
Registration Statement No. 333-238748, filed on May 28, 2020, relating to the registration of 750,000 Shares issuable under the Penns Woods Bancorp, Inc. 2020 Equity Incentive Plan;
Registration Statement No. 333-205722, filed on July 17, 2015, relating to the registration of 602,500 Shares issuable under the Penns Woods Bancorp, Inc. 2014 Equity Incentive Plan;
Registration Statement No. 333-134585, filed on May 31, 2006, relating to the registration of 1,000,000 Shares issuable under the Penns Woods Bancorp, Inc. 2006 Employee Stock Purchase Plan; and
Registration Statement No. 333-58682, filed on April 11, 2001, relating to the registration of 100,000 Shares issuable under the Penns Woods Bancorp, Inc. 1998 Stock Option Plan.

 

On July 25, 2025, pursuant to the terms of the Agreement and Plan of Merger, dated as of December 16, 2024, by and between the Registrant and Northwest Bancshares, a Maryland corporation (“Northwest”), the Registrant merged with and into Northwest (the “Merger”), with Northwest being the surviving corporation of the Merger.

 

As a result of the Merger, the Registrant has terminated any and all offerings of the Registrant’s securities pursuant to the Registration Statements. In accordance with the undertakings made by the Registrant in the Registration Statements to remove from registration, by means of a post-effective amendment, any securities that had been registered under the Registration Statements which remain unsold at the termination of the offerings, the Registrant hereby removes from registration by means of these Post-Effective Amendments all such securities registered under the Registration Statements that remain unsold as of the date hereof. Each Registration Statement is hereby amended, as appropriate, to reflect the deregistration of such securities, and the Registrant hereby terminates the effectiveness of the Registration Statements.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused these Post-Effective Amendments to the Registration Statements described above to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Columbus, State of Ohio, on this 28th day of July, 2025.

 

  NORTHWEST BANCSHARES, INC.
as successor by merger to PENNS WOODS BANCORP, INC.
   
  By: /s/Douglas M. Schosser
  Name: Douglas M. Schosser
  Title: Chief Financial Officer

 

Pursuant to the Rule 478 of the Securities Act of 1933, as amended, no other person is required to sign the Post-Effective Amendment.

 

 

 

FAQ

Why did Penns Woods Bancorp (PWOD) file these Post-Effective Amendments?

Because PWOD merged into Northwest Bancshares and no longer issues its own stock, it is removing 2.55 million unsold shares from SEC registration.

How many shares are being deregistered?

A combined 2,552,500 common shares across five legacy equity and director compensation plans.

Does this filing affect Northwest Bancshares (NWBI) shareholders?

It is administrative only; it cleans up PWOD’s old registrations and has no direct financial impact on NWBI’s capital structure.

Are any new securities being issued through this filing?

No. The purpose is strictly to withdraw previously registered but unsold PWOD shares.

What date did the PWOD–Northwest merger close?

The merger became effective on July 25 2025.
Penns Woods Bancorp Inc

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