PWOD Penns Woods Bancorp Inc

Ronald A. Walko, President and Chief Executive Officer of Penns Woods Bancorp, Inc., (Nasdaq:PWOD) has announced that the Company's Board of Directors declared a first quarter 2006 cash dividend of $0.42 per share. The dividend represents an increase of 11% over the first quarter 2005 dividend and a $0.01 increase over the fourth quarter 2005 dividend. The dividend is payable March 28, 2006 to shareholders of record March 14, 2006. "Our continued strong earnings performance has made it possible to maintain our strategic course of increasing shareholder value, in part, by providing a cash dividend that would result in a return on investment at or exceeding four percent," commented Mr. Walko. Previous press releases and additional information can be obtained from the company's website at www.jssb.com.