Penns Woods Shareholders Transition to Northwest Bancshares Following Merger Completion

The independent trading history of Penns Woods stock has officially concluded. Shareholders who previously held Penns Woods equity now possess shares in Northwest Bancshares, marking the final chapter in the consolidation of these two financial entities.

Effective July 25, 2025, the merger between Penns Woods Bancorp and Northwest Bancshares became official. Trading in Penns Woods shares was suspended immediately following the after-hours session on July 25. The stock was formally delisted from the NASDAQ Global Select Market on July 29, 2025.

Conversion Terms for Equity Holders

Under the merger agreement, Penns Woods investors received 2.385 shares of Northwest Bancshares for each share they previously held. This stock-for-stock transaction, initially valued at approximately $270.4 million, resulted in the transfer of all outstanding Penns Woods shares to Northwest's equity structure.

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Northwest's First Quarterly Results Post-Acquisition

Northwest Bancshares released its third-quarter financial report on October 27, 2025, revealing significant impacts from the recent acquisition:

• Substantial Growth in Net Interest Income: Adjusted net interest income climbed by roughly $17 million compared to the previous quarter
• Record Revenue Achievement: Total revenue reached $168 million, representing 21% annual growth
• Sharp Decline in GAAP Net Income: GAAP net profit fell to just $3 million, down significantly from $34 million in the prior quarter
• Merger-Related Expenses: The company reported an adjusted profit of $41 million when excluding one-time integration costs

The Penns Woods acquisition contributed approximately $2.2 billion in additional assets to Northwest's balance sheet, including $1.8 billion in loan portfolios. The integration process for the subsidiary institutions Jersey Shore State Bank and Luzerne Bank is now complete, with all acquired branches currently operating under the Northwest Bank brand.