Penns Woods Bancorp, Inc. Reports Significant Increase in Net Income

Strategic Insights -

Penns Woods Bancorp, Inc., the parent company of Jersey Shore State Bank, has released its financial results for the first quarter of 2025, showing a substantial increase in net income. The company's financial performance was driven by a higher net interest income and a reduction in provisions for credit losses. The results also reflect the impact of a one-time after-tax loss related to the disposal of former branch properties and merger-related expenses.

Key Takeaways:

  • Net income for the three months ended March 31, 2025, was $7.4 million, a significant increase from $3.8 million in the same period of 2024.
  • The company's net interest income increased by $2.4 million, contributing to the improved financial performance.
  • The disposal of assets related to two former branch properties resulted in a one-time after-tax loss of $261,000 for the three-month period ended March 31, 2024.
  • A negative provision for credit losses of $3.0 million was recognized in the 2025 period, primarily due to a recovery on a commercial loan of $1.3 million.
  • Basic and diluted earnings per share for the three months ended March 31, 2025, were $0.97 and $0.95, respectively, compared to $0.51 in the same period of 2024.
  • The company's annualized return on average assets was 1.31% for the three months ended March 31, 2025, a significant improvement from 0.69% in the corresponding period of 2024.

Statistics:

  • Net income: $7.4 million (2025), $3.8 million (2024)
  • Basic earnings per share: $0.97 (2025), $0.51 (2024)
  • Diluted earnings per share: $0.95 (2025), $0.51 (2024)
  • Annualized return on average assets: 1.31% (2025), 0.69% (2024)
  • Annualized return on average equity: 14.76% (2025), 8.03% (2024)
  • Net interest income: $13.8 million (2025), $11.4 million (2024)

Sources:

  • Press release from Penns Woods Bancorp, Inc. (NASDAQ: PWOD), April 2025
  • PenAir, website, [www.penairgroup.com](http://www.penairgroup.com)
  • Re-map, website, [www.remap-usa.org](http://www.remap-usa.org)
  • The Pennsylvania State University, website, [www.psu.edu](http://www.psu.edu)