Corporate News

Richard A. Grafmyre, President and Chief Executive Officer of Penns Woods Bancorp, Inc., (Nasdaq:PWOD) has announced that the Company's Board of Directors declared a fourth quarter 2011 cash dividend of $0.46 per share. 

The dividend is payable December 20, 2011 to shareholders of record December 6, 2011. 

Jersey Shore State Bank was recently recognized by the Centre County Board of Commissioners for outstanding participation in the Centre County First Time Homebuyer Program, originating 62% of the down payment and closing cost assistance loans since the program started in 1996. Additionally, Jersey Shore State Bank’s State College Mortgage Consultant, Brenda Bryerton was recognized for originating 46% of the loans in the same time frame.

Williamsport, PA - Penns Woods Bancorp, Inc. (NASDAQ:PWOD) today reported that net income from core operations ("operating earnings"), which is a non-GAAP measure of net income excluding net securities gains and losses, increased to $3,145,000 and $8,873,000 for the three and nine months ended September 30, 2011 compared to $2,776,000 and $7,961,000 for the same periods of 2010.  Operating earnings per share for the three months ended September 30, 2011 were $0.82 basic and dilutive compared to $0.72 basic and dilutive for the same period of 2010 or an increase of 13.9%.  Operating earnings per share for the nine months ended September 30, 2011 increased 11.1% to $2.31 basic and dilutive compared to $2.08 basic and dilutive for the same period of 2010.  Operating earnings for the three and nine months ended September 30, 2011 have been positively impacted by continued emphasis on core deposit growth, a solid net interest margin, and expense control.  A reconciliation of the non-GAAP financial measures of operating earnings, operating return on assets, operating return on equity, and operating earnings per share described in this paragraph to the comparable GAAP financial measures is included at the end of this press release.

Richard A. Grafmyre, President and Chief Executive Officer of Penns Woods Bancorp, Inc., (Nasdaq:PWOD) has announced that the Company's Board of Directors declared a third quarter 2011 cash dividend of $0.46 per share. 

The dividend is payable September 20, 2011 to shareholders of record September 6, 2011.

Penns Woods Bancorp, Inc. (NASDAQ: PWOD) was recently recognized for sustained outstanding performance and exemplary achievements in profitability, growth and risk management and was distinguished as one of only 167 institutions nationwide to meet and maintain the highest levels of success each year from 2006 through 2010 by Fiserv's Proven Performers Award 2011.

Penns Woods Bancorp, Inc. (NASDAQ:PWOD) today reported that net income from core operations ("operating earnings"), which is a non-GAAP measure of net income excluding net securities gains and losses, increased to $2,958,000 and $5,729,000 for the three and six months ended June 30, 2011 compared to $2,735,000 and $5,185,000 for the same periods of 2010.  Operating earnings per share for the three months ended June 30, 2011 were $0.77 basic and dilutive compared to $0.71 basic and dilutive for the same period of 2010 or an increase of 8.5%.  Operating earnings per share for the six months ended June 30, 2011 increased 10.4% to $1.49 basic and dilutive compared to $1.35 basic and dilutive for the same period of 2010.  Operating earnings for the three and six months ended June 30, 2011 have been positively impacted by continued emphasis on core deposit growth, a solid net interest margin, and expense control.  A reconciliation of the non-GAAP financial measures of operating earnings, operating return on assets, operating return on equity, and operating earnings per share described in this paragraph to the comparable GAAP financial measures is included at the end of this press release.

Jersey Shore State Bank announced that it was recently recognized by St. Paul-based Elavon Financial Institution (FI) Solutions, as a winner of its first annual One Award, which honors its top financial institution partners for 2010.  Identified by the Elavon FI Solutions relationship management and solutions consultant teams, the One Award recognizes customer financial institutions that have demonstrated success in growing mutual business and excellence in meeting customers' needs over the past year.

Rob Glunk, Vice President of Branch Administration for Jersey Shore State Bank, recently announced that the bank and its employees are collecting personal items for our Veterans at the Altoona VA Medical Center and the Hollidaysburg Veterans Home. The collection will take place June 1-July 1 in every Jersey Shore State Bank branch.

Richard A. Grafmyre, President and Chief Executive Officer of Penns Woods Bancorp, Inc., (Nasdaq:PWOD) has announced that the Company’s Board of Directors declared a second quarter 2011 cash dividend of $0.46 per share.

The dividend is payable June 21, 2011 to shareholders of record June 7, 2011.

Richard A. Grafmyre, President and CEO of Penns Woods Bancorp, Inc., (NASDAQ: PWOD) has announced that the Company's Board of Directors has authorized the extension of its repurchase plan of up to 197,000 shares, or approximately 5%, of the outstanding shares of the Company for an additional year to April 30, 2012.  To date, 120,224, or 61% of the total 197,000 shares have been repurchased.

Richard A. Grafmyre, CFP®, President and CEO of Penns Woods Bancorp, Inc. (NASDAQ: PWOD) the bank holding company for Jersey Shore State Bank, has announced that the company has been named a high performing bank in several 2010 rankings:

• Top 100 Performing Community Banks of 2010 by SNL Financial
• Top 15^th Percentile of Community Banks by Seifried & Brew LLC
• 2010 KBW Bank Honor Roll by KBW, Inc.  

Jersey Shore State Bank was recently recognized by the Pennsylvania Housing Finance Agency (PHFA) for its performance in 2010. The bank’s mortgage services department was ranked the fourth highest producer of PHFA loans in Pennsylvania, the top lender in PHFA HOMEstead Loans and produced the best quality Post-Closing Submissions.

Penns Woods Bancorp, Inc. (NASDAQ:PWOD) today reported that net income from core operations ("operating earnings"), which is a non-GAAP measure of net income excluding net securities gains and losses, increased to $2,770,000 for the three months ended March 31, 2011 compared to $2,450,000 for the same period of 2010.

Richard A. Grafmyre, President and Chief Executive Officer of Penns Woods Bancorp, Inc., (Nasdaq:PWOD) has announced that the Company's Board of Directors declared a first quarter 2011 cash dividend of $0.46 per share. 

The dividend is payable March 24, 2011 to shareholders of record March 10, 2011. 

Penns Woods Bancorp, Inc. (NASDAQ:PWOD) today reported that net income from core operations ("operating earnings"), which is a non-GAAP measure of net income excluding net securities gains and losses, increased to $2,854,000 and $10,815,000 for the three and twelve months ended December 31, 2010 compared to $2,423,000 and $9,291,000 for the same periods of 2009.