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Penns Woods Bancorp Inc. (NASDAQ: PWOD) is a prominent bank holding company headquartered in Pennsylvania. Incorporated on January 7, 1983, it oversees two principal subsidiaries: Jersey Shore State Bank (JSSB) and Luzerne Bank (Luz). Both banks serve North Central and North Eastern Pennsylvania, offering a comprehensive range of financial services including retail banking, commercial banking, mortgage services, and financial brokerage.
Jersey Shore State Bank has a robust presence with sixteen branches across Lycoming, Clinton, Centre, Montour, Union, and Blair Counties. Luzerne Bank complements this network with eight branches in Luzerne County. The banks provide a variety of services such as the acceptance of time, savings, and demand deposits, and the issuance of commercial, consumer, and mortgage loans. They also offer safe deposit services and utilize a modern branch office network, ATMs, Internet, and telephone banking channels to reach their customers.
In addition to traditional banking services, Penns Woods Bancorp, through JSSB, acquired The M Group, Inc. in 2000. Operating under the name The Comprehensive Financial Group, this subsidiary provides insurance and securities brokerage services, diversifying the financial solutions available to Penns Woods' clientele.
Penns Woods Bancorp maintains a commitment to strategic leadership and community involvement, which is reflected in the expertise and dedication of its leadership team. The company’s operational strategies focus on sustaining financial integrity and fostering prosperity within the regions they serve.
Recent achievements include expanding their core deposits and implementing an “at-the-market” (ATM) equity offering program to raise up to $20 million, aimed at bolstering their financial flexibility. This program is facilitated by D.A. Davidson & Co., ensuring compliance with SEC regulations.
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