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) has amended the employment agreement of CEO Richard A. Grafmyre, effective June 3, 2024. The key changes involve removing compensation for unused paid time off, reducing Grafmyre’s base salary to $850,000, and capping his annual bonus at $325,000. These modifications will reduce his maximum total annual compensation by about $150,000, aligning it more closely with industry norms and shareholder feedback. New bonus metrics for 2024 include return on average equity, return on average assets, earnings per share, asset growth, and credit quality. These changes aim to better align executive compensation with performance.
Penns Woods Bancorp (NASDAQ: PWOD) has declared a quarterly cash dividend of $0.32 per share for Q2 2024.
The dividend will be paid on June 25, 2024, to shareholders who are on record as of June 11, 2024.
This announcement was made by CEO Richard A. Grafmyre.
Penns Woods Bancorp's (NASDAQ: PWOD) Board of Directors has authorized a new stock repurchase program. The plan allows repurchase of up to 5% of outstanding shares, equating to about 376,000 shares, over a one-year period ending May 31, 2025. This new program replaces the existing one that expires on May 31, 2024. Repurchases can be made at market prices, through block trades, or privately negotiated transactions based on market conditions. The program is non-binding, meaning the company is not obligated to buy back any specific number of shares and can alter or terminate the plan at any time. Penns Woods Bancorp is the parent company of Jersey Shore State Bank and Luzerne Bank, which together operate multiple branches in Pennsylvania and provide a range of financial services.
