Penns Woods Bancorp, Inc. Holds Annual Shareholders Meeting
May 08 2014 - 4:15PM
Penns Woods Bancorp, Inc., (Nasdaq:PWOD) the holding company of
Jersey Shore State Bank and Luzerne Bank, recently held its annual
shareholders' meeting. Richard A. Grafmyre, CFP® President and CEO,
presided over the meeting.
President Grafmyre and Brian L. Knepp, CPA, Senior Vice
President/CFO; discussed the company's performance during 2013,
future strategic initiatives planned as well as issues that face
the entire financial services industry.
The following directors were re-elected to serve three-year
terms for the corporation:
- James M. Furey, II
- Richard A. Grafmyre, CFP®
- D. Michael Hawbaker
- John G. Nackley
All proposals presented to the shareholders were approved:
- Proposal to amend the Articles of Incorporation to reduce the
supermajority shareholder vote necessary to approve acquisitions of
other companies was approved
- Proposal to ratify the appointment of S.R. Snodgrass, P.C. as
the company's independent registered public accounting firm was
ratified
- Proposal to adopt the 2014 Penns Woods Bancorp, Inc. Stock
Incentive Plan was approved
About Penns Woods Bancorp, Inc.
Penns Woods Bancorp, Inc. is the $1.2 billion parent company of
Luzerne Bank and Jersey Shore State Bank. Luzerne Bank
operates eight branch offices providing financial services in
Luzerne County. Jersey Shore State Bank operates thirteen
branch offices providing financial services in Lycoming, Clinton,
Centre, and Montour Counties. Investment and insurance
products are offered through Jersey Shore State Bank's subsidiary,
The M-Group D/B/A The Comprehensive Financial Group.
CONTACT: Lori Strimple
570.320.2056
lori.strimple@jssb.com
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