Penns Woods Bancorp Reports Q4 2023 Earnings

WILLIAMSPORT, Pa., March 8, 2023 (GLOBE NEWSWIRE) -- Penns Woods Bancorp Inc. (PWOD) today announced net income of $3.7 million for its fourth quarter ended December 31, 2023. Earnings per share were $0.49 on a GAAP basis and $0.57 when adjusted for merger and acquisition costs and non-recurring items.

Revenue for the quarter totaled $31 million, with net interest revenue of $18.3 million exceeding analysts' estimates.

For the full year, PWOD reported net income of $17.7 million, or $2.35 per share, on revenue of $68.5 million.

"We are pleased with our performance in the fourth quarter and for the full year," said CEO John Rohrbach. "Our strong financial results reflect the continued growth of our core businesses and the successful integration of recent acquisitions."

Penns Woods Bancorp Inc. is the holding company for Jersey Shore State Bank and Luzerne Bank. The company's common stock is traded on the Nasdaq under the symbol PWOD.

For more information on Penns Woods Bancorp Inc., visit https://www.pennswoodsbancorp.com or contact:

Investor Relations
(570) 322-0623
[email protected]