Northwest Bancshares, Inc. Merger with Penns Woods Bancorp, Inc. Receives Regulatory and Shareholder Approval
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.
Northwest Bancshares (NWBI) ha ottenuto tutte le approvazioni regolamentari e degli azionisti necessarie per la fusione con Penns Woods Bancorp (PWOD). La fusione comprende le banche controllate da Penns Woods, Jersey Shore State Bank e Luzerne Bank, che saranno integrate in Northwest Bank.
Le principali approvazioni includono:
- Approvazione della FDIC per la fusione delle banche controllate
- Approvazione del Dipartimento Bancario e dei Titoli della Pennsylvania per le fusioni sia a livello di holding che di banca
- Deroga alla domanda di fusione da parte della Federal Reserve Bank di Cleveland
- Approvazione degli azionisti di Penns Woods il 22 aprile 2025
La fusione è prevista per la conclusione entro la fine di luglio 2025.
Northwest Bancshares (NWBI) ha obtenido todas las aprobaciones regulatorias y de accionistas necesarias para su fusión con Penns Woods Bancorp (PWOD). La fusión incluye los bancos subsidiarios de Penns Woods, Jersey Shore State Bank y Luzerne Bank, que se integrarán en Northwest Bank.
Las aprobaciones clave incluyen:
- Aprobación de la FDIC para la fusión de los bancos subsidiarios
- Aprobación del Departamento de Banca y Valores de Pensilvania para las fusiones a nivel de holding y bancario
- Exención de la solicitud de fusión del Banco de la Reserva Federal de Cleveland
- Aprobación de los accionistas de Penns Woods el 22 de abril de 2025
Se espera que la fusión se complete a finales de julio de 2025.
Northwest Bancshares (NWBI)는 Penns Woods Bancorp (PWOD)와의 합병에 필요한 모든 규제 및 주주 승인을 확보했습니다. 이번 합병에는 Penns Woods의 자회사인 Jersey Shore State Bank와 Luzerne Bank가 포함되며, 이들은 Northwest Bank로 합병됩니다.
주요 승인 사항은 다음과 같습니다:
- 자회사 은행 합병을 위한 FDIC 승인
- 보유회사 및 은행 수준 합병에 대한 펜실베이니아 은행 및 증권국 승인
- 클리블랜드 연방준비은행의 합병 신청 면제
- 2025년 4월 22일 Penns Woods 주주 승인
합병은 2025년 7월 말에 완료될 예정입니다.
Northwest Bancshares (NWBI) a obtenu toutes les approbations réglementaires et des actionnaires nécessaires pour sa fusion avec Penns Woods Bancorp (PWOD). La fusion comprend les banques filiales de Penns Woods, Jersey Shore State Bank et Luzerne Bank, qui seront intégrées à Northwest Bank.
Les principales approbations comprennent :
- Approbation de la FDIC pour la fusion des banques filiales
- Approbation du Département des banques et des valeurs mobilières de Pennsylvanie pour les fusions au niveau de la société mère et des banques
- Renonciation à la demande de fusion de la Federal Reserve Bank de Cleveland
- Approbation des actionnaires de Penns Woods le 22 avril 2025
La fusion devrait être finalisée fin juillet 2025.
Northwest Bancshares (NWBI) hat alle erforderlichen behördlichen und aktionärsseitigen Genehmigungen für die Fusion mit Penns Woods Bancorp (PWOD) erhalten. Die Fusion umfasst die Tochterbanken von Penns Woods, Jersey Shore State Bank und Luzerne Bank, die in die Northwest Bank integriert werden.
Wesentliche Genehmigungen umfassen:
- Genehmigung der FDIC für die Fusion der Tochterbanken
- Genehmigung des Pennsylvania Department of Banking and Securities für die Fusionen auf Holding- und Bankebene
- Verzicht auf den Fusionsantrag der Federal Reserve Bank von Cleveland
- Genehmigung der Penns Woods Aktionäre am 22. April 2025
Die Fusion soll Ende Juli 2025 abgeschlossen sein.
- All regulatory approvals secured for the merger
- Shareholder approval obtained
- Clear timeline for merger completion
- None.
Completion of Merger Expected to Take Place in Late July 2025
The Federal Deposit Insurance Corporation has approved the merger of Jersey Shore State Bank and Luzerne Bank with and into Northwest Bank, and the Pennsylvania Department of Banking and Securities has approved the merger of Penns Woods with and into Northwest and the merger of the subsidiary banks. In addition, the Federal Reserve Bank of
Penns Woods shareholders approved the company's proposed merger with and into Northwest at a special shareholders' meeting held on April 22, 2025. The completion of the merger is expected to take place in late July 2025.
About Northwest Bancshares, Inc.
Headquartered in
About Penns Woods Bancorp, Inc.
Penns Woods Bancorp, Inc. is the bank holding company for Jersey Shore State Bank and Luzerne Bank. The banks serve customers in North Central and
Forward-Looking Statements - This release may contain forward-looking statements with respect to the proposed merger between Northwest and Penns Woods including, without limitation, statements with respect to the expected timing of and benefits of the proposed merger. Such statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including, without limitation: (1) the merger may not close in the prospective timeframe, or at all; (2) the businesses of Northwest and Penns Woods may not be integrated successfully or such integration may take longer to accomplish than expected; (3) the expected cost savings and any revenue synergies from the proposed merger may not be fully realized within the expected timeframes; and (4) disruption from the proposed merger may make it more difficult to maintain relationships with clients, associates, or suppliers. Management has no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this release, except as required by law.
Northwest Bancshares Contacts
Investor Contact: Michael Perry, Corporate Development & Strategy (814) 726-2140
Media Contact: Ian Bailey, External Communications (380) 400-2423
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SOURCE Northwest Bancshares, Inc.
FAQ
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