Northwest Bancshares Completes Acquisition of Penns Woods Bancorp, Enhancing Pennsylvania Banking Presence.

Northwest Bancshares has completed its acquisition of Penns Woods Bancorp, enhancing its Pennsylvania banking presence with 21 new branch locations. Northwest now operates 151 financial centers across Pennsylvania, New York, Ohio, and Indiana. The former Jersey Shore State Bank and Luzerne Bank financial centers have been rebranded as Northwest Bank. Northwest will host a conference call on July 30 to review second-quarter 2025 financial results.

Northwest Bancshares, Inc. (NASDAQ: NWBI) has successfully completed its acquisition of Penns Woods Bancorp, Inc. (NASDAQ: PWOD), significantly enhancing its banking presence in Pennsylvania. The merger, effective as of July 25, 2025, integrates Jersey Shore State Bank and Luzerne Bank, both wholly-owned subsidiaries of Penns Woods, into Northwest's operations.

The acquisition brings Northwest 21 new branch locations across North Central and Northeastern Pennsylvania, increasing its total network to 151 financial centers across the states of Pennsylvania, New York, Ohio, and Indiana. This strategic move positions Northwest as a more competitive player in the regional banking landscape, aiming to better serve its customers and communities.

Richard A. Grafmyre, CEO of Penns Woods, has been appointed to the Board of Directors of Northwest Bancshares, Inc. and Northwest Bank. This appointment underscores Northwest's commitment to maintaining local market knowledge and leadership continuity.

The former Jersey Shore State Bank and Luzerne Bank financial centers have been rebranded under the Northwest Bank name following a successful weekend of customer data conversion and branch rebranding (July 26-27). The seamless integration of these branches into Northwest's operations demonstrates the efficiency of the merger process.

Northwest Bancshares will host a conference call on Wednesday, July 30, 2025, at 8:30 a.m. (EDT) to review its second-quarter 2025 financial results. The call will provide investors and financial professionals with an update on the financial performance of the company following the merger.

The acquisition aligns with a broader trend in the banking industry, where regional banks like Northwest are seeking to build scale through strategic acquisitions to compete more effectively against larger national institutions and fintech competitors. By consolidating back-office functions and increasing negotiating power with vendors, Northwest Bancshares aims to achieve operational synergies and maintain a competitive edge.

References:
[1] https://www.marketscreener.com/news/northwest-bancshares-inc-completes-acquisition-of-penns-woods-bancorp-inc-ce7c5fd8dd8bf123
[2] https://www.stocktitan.net/news/NWBI/northwest-bancshares-inc-completes-acquisition-of-penns-woods-ol0b4hw42wp2.html