Northwest Bancshares (NWBI) has announced an agreement to acquire Penns Woods Bancorp (PWOD) in an all-stock transaction valued at approximately $270.4 million. The merger will create a combined entity with over $17 billion in assets, positioning it among the nation's top 100 largest banks.
Cyborg Score Rationale
The deal is projected to be 23% accretive to NWBI's 2026 earnings per share, with a tangible book value earn-back period under 3 years. However, the company is undergoing acquisition and is transitioning to post-merger integration, which creates both opportunities and execution risks.
Top Insights
PWOD declared a quarterly dividend of $0.32 per share, or $1.28 annualized, representing a 41-year history of consistent dividend payments
Net income reached $4.8 million for Q3 2024 quarter and $14.0 million for the nine months ended September 30, 2024, showing improving profitability trajectory
Penns Woods shareholders will receive a dividend increase of approximately 49%, from $0.32 to $0.48 per share equivalent upon merger completion
The merger is anticipated to close in the third quarter of 2025, though it was originally expected in Q3 2025 and may now be delayed
Named Competitors
Northwest Bancshares (Acquirer) — Regional bank holding company with 130+ branches across PA, NY, OH, IN
Regional Pennsylvania Banks — Other community and regional banks operating in PA
Recent Developments
(December 2024) Northwest Bancshares agreed to acquire PWOD for $270.4M
(Q3 2024) Nine-month net income reached $14.0M
(May 2025) Declared quarterly dividend of $0.32 per share
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