Northwest Bancshares to acquire Penns Woods Bancorp for $270.4m.

Northwest Bancshares, the bank holding company for Northwest Bank, agreed to acquire Penns Woods Bancorp, the multi-bank holding company of Jersey Shore State Bank and Luzerne Bank, for $270.4m. "We are very excited to announce this partnership with the Penns Woods team as this transaction marks another milestone in our long-term growth strategy and executes on our strategic plan. Jersey Shore State Bank and Luzerne Bank have outstanding reputations throughout their respective markets, and we look forward to welcoming our new colleagues and their customers to the Northwest family. We will be strongly positioned to continue to serve communities that are familiar to Northwest, expand our presence into new markets, and deliver exceptional banking services across our entire footprint. Through this acquisition, we look forward to building on Northwest's rich history of community-focused banking and delivering even greater value to our customers, employees, communities, and shareholders," Louis J. Torchio, Northwest President and CEO.