Penns Woods Bancorp, Inc. Announces Stock Repurchase Program

Core Viewpoint - Penns Woods Bancorp, Inc. has authorized a share repurchase plan to buy back up to 5% of its outstanding shares, totaling approximately 376,000 shares, which will be executed over a one-year period ending May 31, 2025 [1]. Group 1: Share Repurchase Plan - The repurchase plan replaces the existing plan that expires on May 31, 2024 [1]. - Shares may be repurchased at prevailing market prices, through block trades, or privately negotiated transactions, depending on market conditions [2]. - The company is not obligated to repurchase a specific number of shares and can modify or terminate the program at any time [2]. Group 2: Company Overview - Penns Woods Bancorp, Inc. is the parent company of Jersey Shore State Bank, which operates sixteen branches in various counties, and Luzerne Bank, which has eight branches in Luzerne County [3]. - The company also includes United Insurance Solutions, LLC, which offers insurance products, with investment and insurance services provided through its subsidiary, The M Group, Inc. [3].