{"id":756695,"date":"2023-05-09T15:06:38","date_gmt":"2023-05-09T19:06:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/penns-woods-bancorp-inc-announces-stock-repurchase-program-2\/"},"modified":"2023-05-09T15:06:38","modified_gmt":"2023-05-09T19:06:38","slug":"penns-woods-bancorp-inc-announces-stock-repurchase-program-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/penns-woods-bancorp-inc-announces-stock-repurchase-program-2\/","title":{"rendered":"Penns Woods Bancorp, Inc. Announces Stock Repurchase Program"},"content":{"rendered":"
\n

WILLIAMSPORT, Pa., May 09, 2023 (GLOBE NEWSWIRE) — Richard A. Grafmyre, CEO of Penns Woods Bancorp, Inc., (NASDAQ: PWOD) (\u201cCompany\u201d) has announced that the Company\u2019s Board of Directors has authorized the repurchase of up to 5% of the outstanding shares of the Company. The repurchase plan is for a one-year period ending May 31, 2024 and allows for the repurchase of up to 353,000 shares.<\/p>\n

Repurchases are authorized to be made by the Company from time to time at the prevailing market prices on the open market, in block trades or in privately negotiated transactions as, in management\u2019s opinion, market conditions warrant. Shares repurchased will be held in Treasury.<\/p>\n

Penns Woods Bancorp,\u00a0Inc. is the parent company of Jersey Shore State Bank, which operates sixteen branch offices providing financial services in Lycoming, Clinton, Centre, Montour, Union, and Blair Counties, and Luzerne Bank, which operates eight branch offices providing financial services in Luzerne County, and United Insurance Solutions, LLC, which offers insurance products.\u00a0 Investment and insurance products are offered through Jersey Shore State Bank\u2019s subsidiary, The M Group,\u00a0Inc. D\/B\/A The Comprehensive Financial Group.<\/p>\n

Note: This press release may contain certain \u201cforward-looking statements\u201d including statements concerning plans, objectives, future events or performance and assumptions and other statements, which are statements other than statements of historical fact.\u00a0 The Company cautions readers that the following important factors, among others, may have affected and could in the future affect actual results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company herein: (i)\u00a0the effect of changes in laws and regulations, including federal and state banking laws and regulations, and the associated costs of compliance with such laws and regulations either currently or in the future as applicable; (ii)\u00a0the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as by the Financial Accounting Standards Board, or of changes in the Company\u2019s organization, compensation and benefit plans; (iii)\u00a0the effect on the Company\u2019s competitive position within its market area of the increasing consolidation within the banking and financial services industries, including the increased competition from larger regional and out-of-state banking organizations as well as non-bank providers of various financial services; (iv)\u00a0the effect of changes in interest rates; (v) the effects of health emergencies, including the spread of infectious diseases or pandemics; or (vi)\u00a0the effect of changes in the business cycle and downturns in the local, regional or national economies.\u00a0 For a list of other factors which could affect the Company\u2019s results, see the Company\u2019s filings with the Securities and Exchange Commission, including \u201cItem\u00a01A.\u00a0 Risk Factors,\u201d set forth in the Company\u2019s Annual Report on Form\u00a010-K for the fiscal year ended December\u00a031, 2022.<\/p>\n

Previous press releases and additional information can be obtained from the Company\u2019s website at www.pwod.com.<\/p>\n\n\n\n\n\n
Contact:<\/td>\nRichard A. Grafmyre, Chief Executive Officer<\/td>\n<\/tr>\n
\u00a0<\/td>\n110 Reynolds Street<\/td>\n<\/tr>\n
\u00a0<\/td>\nWilliamsport, PA 17702<\/td>\n<\/tr>\n
\u00a0<\/td>\n570-322-1111<\/td>\ne-mail: pwod@pwod.com<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

WILLIAMSPORT, Pa., May 09, 2023 (GLOBE NEWSWIRE) — Richard A. Grafmyre, CEO of Penns Woods Bancorp, Inc., (NASDAQ: PWOD) (\u201cCompany\u201d) has announced that the Company\u2019s Board of Directors has authorized the repurchase of up to 5% of the outstanding shares of the Company. The repurchase plan is for a one-year period ending May 31, 2024 and allows for the repurchase of up to 353,000 shares. Repurchases are authorized to be made by the Company from time to time at the prevailing market prices on the open market, in block trades or in privately negotiated transactions as, in management\u2019s opinion, market conditions warrant. Shares repurchased will be held in Treasury. Penns Woods Bancorp,\u00a0Inc. is the parent company of Jersey Shore State … <\/p>\n

Continue reading “Penns Woods Bancorp, Inc. Announces Stock Repurchase Program”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-756695","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPenns Woods Bancorp, Inc. Announces Stock Repurchase Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/penns-woods-bancorp-inc-announces-stock-repurchase-program-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Penns Woods Bancorp, Inc. 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