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 (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.
Penns Woods Bancorp (NASDAQ:PWOD) has declared a quarterly cash dividend of $0.32 per share for the third quarter of 2024. The dividend will be payable on September 24, 2024 to shareholders of record as of September 10, 2024. This announcement, made by CEO Richard A. Grafmyre, demonstrates the company's commitment to providing regular returns to its shareholders. The consistent dividend payout may be seen as a positive sign of the bank's financial stability and confidence in its future performance.
Penns Woods Bancorp, Inc. (NASDAQ: PWOD) reported net income of $9.2 million for the six months ended June 30, 2024, with basic and diluted earnings per share of $1.22. Key highlights include:
- Net income for Q2 2024 was $5.4 million, up from $4.2 million in Q2 2023
- Net interest income increased by $1.1 million and $577,000 for the three and six-month periods
- Net interest margin rose to 2.83% in Q2 2024, a 14 basis point increase from Q1 2024
- Annualized return on average assets was 0.97% for Q2 2024
- Total assets increased to $2.2 billion, up $99.3 million from June 30, 2023
- Net loans grew by $97.2 million to $1.9 billion
- Deposits increased by $94.3 million to $1.6 billion
- Shareholders' equity rose by $22.7 million to $197.1 million
