Penns Woods Bancorp, Inc. 1 Penns Woods Bancorp, Inc. Forward-Looking Information Certain statements contained in this presentation are forward-looking in nature. These include all statements about PWB's plans, objectives, expectations and other statements that are not historical facts, and usually use words such as "expect," "anticipate," "believe" and similar expressions. Such statements represent management's current beliefs, based upon information available at the time the statements are made, with rega ...

Financial Performance - Net income for Q1 2025 was $7,367,000, a 93.5% increase from $3,808,000 in Q1 2024[85] - Basic and diluted earnings per share for Q1 2025 were $0.97 and $0.95, respectively, compared to $0.51 in Q1 2024[87] - Annualized return on average assets increased to 1.31% in Q1 2025 from 0.69% in Q1 2024[87] - Non-GAAP core earnings for Q1 2025 were $8,061,000, up from $3,834,000 in Q1 2024, representing a 109.5% increase[87] Interest Income and Expenses - The net interest margin improved to 3.13% in Q1 2025, compared to 2.69% in Q1 2024, driven by a 38 basis points increase in rates[95] - Interest and dividend income rose by $2,148,000, or 8.19%, to $28,378,000 in Q1 2025 from $26,230,000 in Q1 2024[92] - Total interest income for the three months ended March 31, 2025, was $28,378,000, an increase from $26,230,000 in 2024, representing a growth of 8.2%[98] - Net interest income on a fully taxable equivalent basis for Q1 2025 was $16,273,000, compared to $13,869,000 in Q1 2024, reflecting a year-over-year increase of 17.3%[98] - Total interest expense decreased by $246,000, or 1.97%, to $12,238,000 in Q1 2025 from $12,484,000 in Q1 2024[93] Credit Losses and Nonperforming Loans - The allowance for credit losses showed a negative provision of $2,969,000 in Q1 2025, compared to a provision of $138,000 in Q1 2024[85] - The allowance for credit losses decreased from $11,848,000 at December 31, 2024, to $9,990,000 at March 31, 2025, due to a negative provision for credit losses of $2,969,000[104] - Nonperforming loans increased to $9,987,000 at March 31, 2025, up from $8,904,000 at December 31, 2024, resulting in a nonperforming loans to total loans ratio of 0.53%[106] - The net loan recoveries for the three months ended March 31, 2025, were $957,000, impacting the allowance for credit losses[106] Non-Interest Income and Expenses - Total non-interest income for Q1 2025 was $2,568,000, an increase of $106,000 or 4.31% compared to the same period in 2024[109] - Total non-interest expense increased by $971,000 for the three months ended March 31, 2025, primarily due to higher salaries and employee benefits[111] - Non-interest expenses for the three months ended March 31, 2025, totaled $12,594,000, an increase of 8.35% compared to $11,623,000 for the same period in 2024[113] - Salaries and employee benefits accounted for 51.48% of total non-interest expenses in Q1 2025, slightly down from 55.25% in Q1 2024[113] - Gain on sale of loans increased by 33.77% to $408,000 in Q1 2025 compared to $305,000 in Q1 2024[110] Capital and Liquidity - As of March 31, 2025, the Company and both Banks were classified as "well capitalized" under regulatory standards, with Common Equity Tier I Capital ratio at 10.588%[135] - The Company's Total Capital ratio was 11.139% as of March 31, 2025, exceeding the minimum requirement of 10.000% to be considered well capitalized[135] - Jersey Shore State Bank's Common Equity Tier I Capital ratio was 10.328% as of March 31, 2025, above the required minimum of 6.500%[136] - Luzerne Bank's Total Capital ratio was 11.137% as of March 31, 2025, surpassing the minimum requirement of 10.000%[136] - The Company maintained a capital conservation buffer of 2.5% above the regulatory minimum capital requirements for CET1, Tier 1, and Total Capital ratios[133] - The net loans to total deposits ratio was 109% as of March 31, 2025, indicating a need for careful liquidity management[138] - The Company has strategically taken an asset-sensitive gap position to enhance net interest income in response to market interest rate changes[144] - The Company’s liquidity management includes monitoring cash flow needs and maintaining adequate resources to meet funding requirements[141] Market Risk and Interest Rate Sensitivity - Market risk is primarily composed of interest rate risk exposure and liquidity risk, monitored through independent third-party measures[152] - Management believes that movements in interest rates have a greater impact on financial condition than inflation changes[151] - The percent change in net interest income from the static scenario varies from -5.18% to +1.88% depending on the interest rate shift[148] - The company is well positioned to respond quickly to changes in market interest rate outlook[153] - The company’s ability to match interest sensitivity of assets and liabilities may minimize performance impacts from interest rate changes[151] Tax and Cash Management - The effective tax rate increased to 18.89% for Q1 2025, up from 14.37% in Q1 2024, due to higher taxable income from increased net interest income[114] - Cash and cash equivalents increased by $8,473,000 to $37,445,000 as of March 31, 2025, compared to $28,972,000 at December 31, 2024[115] Investment Portfolio - The fair value of the investment debt securities portfolio decreased by $8,821,000 since December 31, 2024, while the amortized cost decreased by $11,106,000[119] Borrowing Capacity - The Company has a total current maximum borrowing capacity at the FHLB of $847,542,000, with FHLB borrowings totaling $288,546,000 as of March 31, 2025[142]

Core Financial Performance - Penns Woods Bancorp, Inc. reported a net income of $7.4 million for the three months ended March 31, 2025, with basic and diluted earnings per share of $0.97 and $0.95, respectively, compared to $3.8 million and $0.51 for the same period in 2024 [1][5][20] - Core earnings, a non-GAAP measure, were $8.1 million for the same period, up from $3.8 million in 2024, with core earnings per share increasing from $0.51 to $1.06 (basic) and $1.04 (diluted) [3][5] - The annualized return on average assets was 1.31% for Q1 2025, compared to 0.69% in Q1 2024, while the return on average equity rose to 14.76% from 8.03% [5][24] Net Interest Margin and Income - The net interest margin increased to 3.13% for the three months ended March 31, 2025, up from 2.69% in the same period of 2024, driven by a 38 basis points increase in the rate collected on interest-earning assets [4][24] - Net interest income rose by $2.4 million, reflecting the expanded net interest margin [5][24] - Total interest and dividend income for Q1 2025 was $28.4 million, an increase of 8.19% from $26.2 million in Q1 2024 [19][24] Asset and Loan Growth - Total assets increased to $2.3 billion as of March 31, 2025, a rise of $42.1 million from the previous year [7][24] - Net loans grew by $43.3 million to $1.9 billion, with a focus on commercial loan growth and indirect auto lending [7][24] - The average loan portfolio balance increased by $41.8 million, contributing to a taxable equivalent interest income increase of $2.2 million [4][24] Deposits and Funding - Total deposits rose by $105.4 million to $1.7 billion, with interest-bearing deposits increasing by $111.1 million [9][24] - Noninterest-bearing deposits decreased by $5.7 million, while core deposits remained stable at $1.2 billion over the past five quarters [9][24] - Brokered deposits increased by $51.2 million to $177.0 million, utilized to support loan portfolio growth [9][24] Shareholders' Equity - Shareholders' equity increased by $18.5 million to $212.0 million, with a book value per share rising to $27.85 from $25.72 [10][24] - The accumulated other comprehensive loss decreased significantly, contributing to the overall increase in equity [10][24] Non-Performing Loans - The ratio of non-performing loans to total loans increased to 0.53% from 0.43%, with non-performing loans rising to $10.0 million [8][24] - The allowance for credit losses was 0.54% of total loans, down from 0.62% in the previous year [8][24]

Core Insights - Penns Woods Bancorp, Inc. reported a net income of $7.4 million for the three months ended March 31, 2025, with basic earnings per share of $0.97 and diluted earnings per share of $0.95, reflecting a significant increase from $3.8 million in net income for the same period in 2024 [1][5]. Financial Performance - Core earnings, a non-GAAP measure, were $8.1 million for the three months ended March 31, 2025, compared to $3.8 million for the same period in 2024, resulting in core earnings per share of $1.06 (basic) and $1.04 (diluted) [3]. - The annualized core return on average assets and average equity were 1.43% and 16.15%, respectively, for the three months ended March 31, 2025, compared to 0.69% and 8.09% for the same period in 2024 [3]. Net Interest Margin - The net interest margin increased to 3.13% for the three months ended March 31, 2025, up from 2.69% for the same period in 2024, driven by a 38 basis points increase in the rate collected on interest-earning assets [4][5]. - The average loan portfolio balance increased by $41.8 million, contributing to a taxable equivalent interest income increase of $2.2 million for the period [4]. Asset and Loan Growth - Total assets rose to $2.3 billion at March 31, 2025, an increase of $42.1 million compared to March 31, 2024, with net loans increasing by $43.3 million to $1.9 billion [7]. - The investment portfolio decreased by $14.3 million as cash flow was utilized to fund loan growth [7]. Deposits and Borrowings - Total deposits increased by $105.4 million to $1.7 billion at March 31, 2025, with interest-bearing deposits rising by $111.1 million due to growth in the time deposit portfolio [9]. - Short-term and long-term borrowings decreased by $28.3 million and $47.2 million, respectively, as deposit growth allowed for a reduction in total borrowings [7]. Shareholders' Equity - Shareholders' equity increased by $18.5 million to $212.0 million at March 31, 2025, with a book value per share of $27.85, up from $25.72 at March 31, 2024 [10]. - The accumulated other comprehensive loss decreased significantly, contributing to the overall increase in shareholders' equity [10]. Non-Performing Loans - The ratio of non-performing loans to total loans increased to 0.53% at March 31, 2025, from 0.43% at March 31, 2024, with non-performing loans rising to $10.0 million [8]. - The allowance for credit losses was 0.54% of total loans at March 31, 2025, compared to 0.62% at March 31, 2024 [8].

Exhibit 99.1 Press Release — For Immediate Release April 25, 2025 Penns Woods Bancorp, Inc. Reports First Quarter 2025 Earnings Williamsport, PA — April 25, 2025 - Penns Woods Bancorp, Inc. (NASDAQ: PWOD) Penns Woods Bancorp, Inc. achieved net income of $7.4 million for the three months ended March 31, 2025, resulting in basic earnings per share of $0.97 and diluted earnings per share of $0.95. Highlights Net Income Net income from core operations ("core earnings"), which is a non-GAAP measure of net income ...

Interest Income and Expense - Reported net interest income increased by $3,916,000 to $58,880,000 for the year ended December 31, 2024, compared to 2023 [115]. - Total interest income rose by $18,103,000 or $18,064,000 on a tax equivalent basis, primarily due to growth in the loan portfolio balance and yield [115]. - Interest expense increased by $14,187,000 to $50,818,000 for the year ended December 31, 2024, driven by a 96 basis point increase in the average rate paid on interest-bearing deposits [116]. - The average rate paid on time deposits increased by 87 basis points, contributing to the rise in interest expense [116]. - Total interest income for 2023 was $91,595,000, up from $64,928,000 in 2022, reflecting a significant increase in the loan portfolio [123]. - Net interest income for 2023 was $54,964,000, a decrease of $2,816,000 compared to 2022 [117]. - The interest rate spread for 2024 was 1.98%, down from 2.10% in 2023 [120]. - The company experienced a net increase in interest income of $3,877,000 from 2023 to 2024, despite a decrease in net interest income from 2022 to 2023 [125]. Credit Losses and Allowance - The allowance for credit losses increased from $11,446,000 at December 31, 2023 to $11,848,000 at December 31, 2024, representing 0.63% of total loans compared to 0.62% in the previous year [130]. - The provision for loan credit losses totaled $942,000 for the year ended December 31, 2024, compared to a recovery of $927,000 for the year ended December 31, 2023, reflecting a significant increase in net charge-offs and gross loan growth of $37,314,000 [131]. - The allowance for credit losses decreased from $15,637,000 at December 31, 2022 to $11,446,000 at December 31, 2023, primarily due to the adoption of CECL, which reduced the reserve by $3,789,000 [132]. - Non-performing loans increased due to the addition of a commercial relationship during 2024, with the majority being secured loans with strong underlying financial positions [131]. - The allowance for credit losses allocated to commercial, financial, and agricultural loans was $2,323,000, representing 1.10% of total loans in that category [167]. - The total non-accrual loans outstanding were $4,388,000, which is 0.23% of total loans [167]. - The allowance for credit losses allocated to consumer automobile loans was $2,909,000, with a ratio of net charge-offs to recoveries at (0.37)% [167]. - The allowance for credit losses (ACL) increased to $(11,848,000) in 2024 from $(11,446,000) in 2023, indicating a rise in expected credit losses [307]. Non-Interest Income and Expenses - Total non-interest income increased by $1,243,000 from $8,375,000 in 2023 to $9,618,000 in 2024, with notable increases in gain on sale of loans and loan broker income due to higher mortgage volume [135]. - Salaries and employee benefits increased by $1,194,000 from $25,062,000 in 2023 to $26,256,000 in 2024, primarily due to routine wage and benefit increases [140]. - Total non-interest expenses rose by $1,988,000 from $44,496,000 in 2023 to $46,484,000 in 2024, with merger-related expenses of $735,000 incurred during the fourth quarter of 2024 [139]. - Total non-interest expense increased to $46,484 thousand in 2024, up from $44,496 thousand in 2023, a rise of 4.5% [213]. Loans and Deposits - Gross loans increased by $200,033,000, or 12.2%, from $1,639,731,000 in 2022 to $1,839,764,000 in 2023 [152]. - The residential loan segment increased by $31,906,000, or 4.00%, from $798,501,000 in 2023 to $830,407,000 in 2024 [153]. - The total loans outstanding as of December 31, 2024 amounted to $1,876,115,000, with a net charge-off of $540,000 or 0.03% of average loans for the year [162]. - Total average deposits increased by $89,919,000 or 5.72% from 2023 to 2024, with time deposits rising by $167,617,000 [175]. - The net loans to total deposits ratio was 109% as of December 31, 2024, indicating a strong liquidity position [188]. - The total past due loans (30 to 89 days) increased to $22,773,000 in 2024 from $16,553,000 in 2023, marking a growth of about 37.0% [306]. - The total past due loans (90 days or more) also increased to $6,064,000 in 2024 from $3,148,000 in 2023, reflecting a rise of approximately 92.0% [306]. Shareholders' Equity and Income - Shareholders' equity increased by $13,675,000 to $205,231,000 at December 31, 2024, resulting in a book value per share of $27.16 [182]. - Consolidated net income for 2024 was $17,739 thousand, compared to $16,608 thousand in 2023, reflecting a year-over-year increase of 6.8% [213]. - The percentage of dividends declared to net income was 54.38% in 2024, slightly down from 55.18% in 2023 [186]. - The company declared dividends of $1.28 per share, totaling $9,646,000 in 2024, compared to $9,164,000 in 2023 [219]. Investment Portfolio - The fair value of the investment portfolio decreased by $2,748,000 from December 31, 2022, to December 31, 2023, primarily due to a decrease in the municipal segment [147]. - The total investment portfolio decreased by $6,414,000, or 3.34%, from $192,067,000 in 2023 to $185,653,000 in 2024 [148]. - Approximately 82% of the debt securities portfolio is currently rated A or higher by S&P or Moody's, indicating strong credit quality [146]. - The total yield of the investment portfolio was 3.90% as of December 31, 2024 [148]. - The net unrealized loss on available-for-sale securities was $(4,567,000) as of December 31, 2024, compared to $(6,396,000) in 2023 [286]. Mergers and Acquisitions - The merger agreement between Penns Woods Bancorp, Inc. and Northwest Bancshares, Inc. may impact future operational efficiencies and integration efforts [208]. - The Corporation will merge with Northwest Bancshares, Inc., with each share of the Corporation's common stock converting into 2.385 shares of Northwest common stock [229]. - The Merger requires approval from regulatory authorities and shareholders, with a special meeting scheduled for April 22, 2025 [230]. Management and Operational Strategies - Management's review of the loan portfolio includes assessing loan quality, analyzing delinquencies, and evaluating potential charge-offs and recoveries [157]. - The Corporation's liquidity management includes cash on hand, loan repayments, and sales of investments, ensuring sufficient resources for funding needs [191]. - The Corporation maintains a gap position that is asset sensitive, with a focus on short-term funding and a slight lengthening of the investment portfolio due to higher yields [194]. - Management emphasizes interest rate sensitivity and utilizes a market value at risk calculation to monitor the effects of interest rate changes on shareholders' equity [195]. - The Corporation's asset/liability management aims to match maturities and rates between assets and liabilities to cope with market rate fluctuations [193].

Core Points - Penns Woods Bancorp, Inc. reported a net income of $17.7 million for the twelve months ended December 31, 2024, with earnings per share of $2.35 [1][7] - Core earnings for the same period were $18.4 million, up from $16.7 million in 2023, with core earnings per share increasing to $2.44 from $2.36 [3] - The company experienced an increase in total assets to $2.2 billion, a rise of $27.5 million compared to the previous year [5] Net Income - Net income from core operations was $4.4 million for the three months ended December 31, 2024, compared to $5.6 million in 2023 [3] - The annualized core return on average assets was 0.83% for the twelve months ended December 31, 2024, compared to 0.79% in 2023 [3] - The net income reported under GAAP for the three months ended December 31, 2024, was $3.7 million, down from $5.6 million in 2023 [7] Net Interest Margin - The net interest margin for the three months ended December 31, 2024, was 2.98%, up from 2.73% in 2023 [4] - The average loan portfolio balance increased by $47.4 million for the three months ended December 31, 2024, compared to the same period in 2023 [4] - Interest income from the loan portfolio increased by $2.0 million for the three months ended December 31, 2024 [4] Assets - Total assets reached $2.2 billion at December 31, 2024, marking a 1.25% increase from the previous year [5] - Net loans increased to $1.9 billion, up $36.9 million from December 31, 2023, driven by commercial loan growth [5] - The investment portfolio decreased by $10.7 million from the previous year [5] Non-performing Loans - The ratio of non-performing loans to total loans increased to 0.47% at December 31, 2024, from 0.17% in 2023 [8] - Non-performing loans rose to $8.9 million, up from $3.1 million in the previous year [8] - The allowance for credit losses was 0.63% of total loans at December 31, 2024, compared to 0.62% in 2023 [8] Deposits - Total deposits increased by $116.6 million to $1.7 billion at December 31, 2024 [9] - Noninterest-bearing deposits decreased by $14.2 million, while interest-bearing deposits increased by $130.8 million [9] - Core deposits remained stable at $1.2 billion over the past five quarters [9] Shareholders' Equity - Shareholders' equity increased by $13.7 million to $205.2 million at December 31, 2024 [10] - The book value per share rose to $27.16 from $25.51 in the previous year [10] - The accumulated other comprehensive loss decreased from $9.2 million to $5.3 million [10]

Core Financial Performance - Penns Woods Bancorp, Inc. reported a net income of $17.7 million for the twelve months ended December 31, 2024, with earnings per share of $2.35 [1][5] - Core earnings for the three and twelve months ended December 31, 2024 were $4.4 million and $18.4 million, respectively, compared to $5.6 million and $16.7 million for the same periods in 2023 [3] - The annualized core return on average assets and equity for the twelve months ended December 31, 2024 were 0.83% and 9.46%, respectively, compared to 0.79% and 9.93% for the same period in 2023 [3] Net Interest Margin and Income - The net interest margin for the three and twelve months ended December 31, 2024 was 2.98% and 2.83%, respectively, compared to 2.73% and 2.80% for the same periods in 2023 [4] - Net interest income increased by $1.6 million and $3.9 million for the three and twelve months ended December 31, 2024, respectively, as the cost of funds stabilized [5] - The average loan portfolio balance increased by $47.4 million and $106.9 million for the three and twelve months ended December 31, 2024, respectively [4] Asset and Loan Growth - Total assets increased to $2.2 billion at December 31, 2024, an increase of $27.5 million compared to December 31, 2023 [7] - Net loans increased by $36.9 million to $1.9 billion at December 31, 2024, with a focus on commercial loan growth and indirect auto lending [7] - The ratio of non-performing loans to total loans increased to 0.47% at December 31, 2024, from 0.17% at December 31, 2023 [8] Deposits and Funding - Total deposits increased by $116.6 million to $1.7 billion at December 31, 2024, with interest-bearing deposits growing by $130.8 million [9] - Noninterest-bearing deposits decreased by $14.2 million, while core deposits declined by $17.8 million as customers migrated to higher-rate time deposits [9] - Brokered deposit balances increased by $53.6 million to $178.3 million at December 31, 2024, as this funding source was utilized to support loan portfolio growth [9] Shareholders' Equity - Shareholders' equity increased by $13.7 million to $205.2 million at December 31, 2024, with a book value per share of $27.16 [10] - The accumulated other comprehensive loss decreased from $9.2 million at December 31, 2023, to $5.3 million at December 31, 2024 [10] - Tangible book value per share increased to $24.97 at December 31, 2024, compared to $23.29 at December 31, 2023 [10]

Financial Performance - Net income for the twelve months ended December 31, 2024 was $17.7 million, with basic and diluted earnings per share of $2.35[2] - Core earnings for the three and twelve months ended December 31, 2024 were $4.4 million and $18.4 million, respectively, compared to $5.6 million and $16.7 million for the same periods in 2023[4] - Net income available to common shareholders decreased by 32.66% to $3,741,000 for the three months ended December 31, 2024, down from $5,555,000 in 2023[22] - Earnings per share (basic) fell by 35.06% to $0.50 from $0.77 in the previous year[22] - Net income for the quarter ended December 31, 2024, was $3,741,000, a decrease of 32.5% compared to $5,555,000 for the same quarter last year[29] - Non-GAAP core earnings for Q4 2024 were $4,357,000, down 21.5% from $5,569,000 in Q4 2023[32] - Basic earnings per share (EPS) for Q4 2024 were $0.50, a decrease of 35.1% compared to $0.77 in Q4 2023[32] Asset and Deposit Growth - Total assets increased to $2.2 billion at December 31, 2024, an increase of $27.5 million compared to December 31, 2023[9] - Total assets increased by 1.25% to $2,232,338,000 compared to $2,204,809,000 in 2023[20] - Total deposits rose by 7.33% to $1,706,081,000, up from $1,589,493,000 in 2023[20] - Deposits increased by $116.6 million to $1.7 billion at December 31, 2024, with interest-bearing deposits rising by $130.8 million[11] - Total assets as of December 31, 2024, were $2,238,340,000, compared to $2,182,744,000 in 2023, reflecting an increase of 2.5%[24] - Total deposits increased to $1,706,081,000, up 7.4% from $1,589,493,000 year-over-year[30] Loan Performance - The average loan portfolio balance increased by $47.4 million and $106.9 million for the three and twelve months ended December 31, 2024, respectively[8] - Loans, net grew by 2.02% to $1,865,230,000 from $1,828,318,000 in the previous year[20] - Total loans increased to $1,876,179,000 as of December 31, 2024, from $1,828,743,000 in 2023, marking a growth of 2.6%[24] - The ratio of non-performing loans to total loans increased to 0.47% at December 31, 2024, up from 0.17% at December 31, 2023, with non-performing loans rising to $8.9 million[10] - Non-performing loans increased to $8,904,000, representing 0.40% of total assets, compared to 0.14% in the same quarter last year[30] Interest Income and Expense - The net interest margin for the three and twelve months ended December 31, 2024 was 2.98% and 2.83%, respectively, compared to 2.73% and 2.80% for the corresponding periods in 2023[8] - Net interest income increased by 11.58% to $15,563,000 for the three months ended December 31, 2024, compared to $13,948,000 in 2023[22] - Total interest income for the three months ended December 31, 2024, was $28,251,000, an increase from $25,917,000 in the same period of 2023, representing a growth of 5.15%[25] - Total interest expense for the three months ended December 31, 2024, was $12,688,000, up from $11,969,000 in 2023, an increase of 6.0%[25] - Interest expense on deposits increased by 27.91% to $9,523,000 for the three months ended December 31, 2024, compared to $7,445,000 in 2023[22] Shareholders' Equity - Shareholders' equity increased by $13.7 million to $205.2 million at December 31, 2024, resulting in a book value per share of $27.16[13] - Shareholders' equity increased to $205,538,000 as of December 31, 2024, from $176,415,000 in 2023, representing a growth of 16.5%[24] - Total shareholders' equity increased to $205,231,000 in Q4 2024 from $191,556,000 in Q4 2023[32] - Tangible shareholders' equity rose to $188,674,000 in Q4 2024, up from $174,896,000 in Q4 2023[32] - Book value per share increased to $27.16 in Q4 2024, compared to $25.51 in Q4 2023[32] Operational Efficiency - The efficiency ratio for the quarter was 70.73%, compared to 67.78% in the same quarter last year, indicating a decrease in operational efficiency[29] - The annualized return on average assets was 0.67%, down from 1.02% in the same quarter last year, indicating a decline in profitability[29] - Return on average assets (ROA) for Q4 2024 was 0.67%, a decline from 1.02% in Q4 2023[32] - Return on average equity (ROE) for Q4 2024 was 7.28%, down from 12.60% in Q4 2023[32] Merger Activity - A merger agreement with Northwest Bancshares, Inc. was announced, which may impact future performance and operational efficiencies[16] - Merger expenses for Q4 2024 amounted to $581,000, with no expenses reported in Q4 2023[32]

Mergers and Acquisitions Overview - Kuehn Law, PLLC is investigating potential claims related to proposed mergers involving several companies, focusing on whether the Boards acted to maximize shareholder value, failed to disclose material information, and conducted a fair process [1] - Penns Woods Bancorp, Inc. is set to merge with Northwest Bancshares, Inc. at a ratio of 2.385 shares of Northwest common stock for each share of Penns Woods common stock, with Penns Woods shareholders expected to hold 12% of the combined company and receive a dividend of 48 cents per share [1] - NeuroMetrix, Inc. will be acquired by electroCore, Inc. for its net cash at closing, minus compensation, severance, transaction expenses, and liabilities [2] - Berkshire Hills Bancorp, Inc. has entered into a definitive agreement with Brookline Bancorp, Inc., where Berkshire shareholders will own approximately 51% of the combined company upon closing [2] - Brookline Bancorp, Inc. will merge with Berkshire Hills Bancorp, Inc. at a ratio of 0.42 shares of Berkshire common stock for each share of Brookline common stock, with the transaction valued at $12.68 per share of Brookline common stock [3]