- Northwest Bancshares, Inc. (NWBI, Financial) has received all necessary regulatory and shareholder approvals for its merger with Penns Woods Bancorp, Inc. (PWOD).
- The merger, involving Jersey Shore State Bank and Luzerne Bank, is projected to conclude by late July 2025.
- Key approvals came from the FDIC, Pennsylvania Department of Banking and Securities, and Federal Reserve Bank of Cleveland.
Northwest Bancshares, Inc. (NWBI) announced the successful acquisition of all required regulatory and shareholder approvals for its merger with Penns Woods Bancorp, Inc. (PWOD). This merger includes Penns Woods' subsidiary banks, Jersey Shore State Bank and Luzerne Bank, which will integrate into Northwest Bank.
Regulatory approvals were granted by the Federal Deposit Insurance Corporation (FDIC) for the merger of the subsidiary banks and the Pennsylvania Department of Banking and Securities for both holding company and bank-level mergers. Additionally, the Federal Reserve Bank of Cleveland provided a waiver for the merger application.
Penns Woods Bancorp shareholders approved the merger during a special meeting on April 22, 2025. The transaction, marking a significant consolidation in the regional banking sector, is anticipated to be finalized by late July 2025.
Northwest Bancshares, headquartered in Columbus, Ohio, operates 130 financial centers across Pennsylvania, New York, Ohio, and Indiana. The company's stock is publicly traded on the NASDAQ under the symbol NWBI.
Penns Woods Bancorp, serving North Central and Northeastern Pennsylvania, also trades on the NASDAQ, with a ticker symbol of PWOD. The merger promises to enhance customer service offerings and operational efficiencies for both institutions.
