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Grafmyre Named President & CEO Of Jersey Shore State Bank

For only the fifth time in its 76 year history, Jersey Shore State Bank has named a new President. Richard A. Grafmyre, CFP® began his duties on October 29 th as the new President and CEO of Jersey Shore State Bank, and the bank’s holding company Penns Woods Bancorp, Inc. (NASDAQ:PWOD). He will work with the former President and CEO, Ronald A. Walko for the next 12-14 months. Walko has assumed the position of Chairman of the Board of Directors.

“For the benefit of our shareholders, customers and employees our number one priority is a smooth transition, which is why I will be working with Dick for an extended period of time,” stated Walko. “We have a very knowledgeable and dedicated staff, this move will not affect the way we do business.”

Grafmyre comes to Jersey Shore State Bank with more than 34 years of banking experience. Prior to joining the bank he was President and CEO of FNB Bank NA in Danville, PA. He holds a Certified Financial Planner Certification and holds his Series 7 license.

Active in the community, Grafmyre is a member of the boards of Geisinger Health System Foundation, Geisinger Health Plan, Geisinger Health System Advisory Council, Montour County Industrial Corp., and the Columbia Montour Alliance.

“This is an excellent opportunity for me to join a strong local bank and apply my knowledge to help achieve the goals established by Ron and the Board of Directors,” stated Mr. Grafmyre. “I’m excited about contributing to the continued success of Jersey Shore State Bank.”

Penns Woods Bancorp, Inc. is the bank holding company for Jersey Shore State Bank, with $713,496,000 in assets. Jersey Shore State Bank has 12 offices in Centre, Lycoming and Clinton Counties, Pennsylvania. Investment and insurance products are offered through the bank’s subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group. Penns Woods Bancorp, Inc. stock trades on the NASDAQ National Market under the symbol PWOD.

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