Regional lender Northwest Bancshares, Inc. (NWBI) entered a merger agreement on December 17, 2024, to acquire Penns Woods Bancorp, Inc. (PWOD) in an all-stock deal valued at $270.4 million.
Under the terms of the agreement, Penns Woods shareholders will be entitled to receive 2.385 shares of Northwest common stock for each share of Penns Woods common stock they own. The transaction is valued at about $34.44 per share of Penns Woods common stock, representing a premium of 1.86% from the stock’s last close.