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Penns Woods Bancorp, Inc. Announces Special Dividend

WILLIAMSPORT, Pa., March 14, 2013 (GLOBE NEWSWIRE) -- Richard A. Grafmyre CFP®, President and Chief Executive Officer of Penns Woods Bancorp, Inc., (Nasdaq:PWOD) has announced that the Company's Board of Directors has declared a special cash dividend of $0.25 per share.

The special cash dividend is payable April 9, 2013 to shareholders of record March 26, 2013. 

President Grafmyre stated, "We are pleased to reward the loyalty of our shareholders with this special cash dividend. Our ability to pay this extra dividend is attributed to the Company coming off of a record year of net income, deposit growth, and loan growth. In addition the capital position of the Company continues to remain strong and is classified as well capitalized by regulatory standards."  

About Penns Woods Bancorp, Inc.

Penns Woods Bancorp, Inc. is the bank holding company for Jersey Shore State Bank. The bank serves customers in North Central Pennsylvania through its retail banking, commercial banking, mortgage services and financial services divisions. Penns Woods Bancorp, Inc. stock is listed on the NASDAQ National market under the symbol PWOD. 

Additional Information For Shareholders

Penns Woods has filed with the Securities and Exchange Commission (SEC) a registration statement on Form S-4 containing a joint proxy statement/prospectus and other documents regarding its proposed transaction with Luzerne National Bank Corp.  The proxy materials will set forth complete details of the merger transaction.  Penns Woods and Luzerne shareholders and investors are urged to read the joint proxy statement/prospectus when it becomes available, because it will contain important information about Penns Woods and Luzerne and the proposed transaction.  When available, copies of this joint proxy statement/prospectus will be mailed to shareholders.  Copies of the joint proxy statement/prospectus also may be obtained free of charge at the SEC's web site at http://www.sec.gov, or by directing a request to Penns Woods Bancorp, Inc., Attention – Richard A. Grafmyre, President & CEO, 300 Market Street, Williamsport, Pennsylvania 17701 or on its website at www.jssb.com, or to Luzerne National Bank Corporation, Attention – Robert C. Snyder, President & CEO, 118 Main Street, Luzerne, Pennsylvania  18709.  Copies of other documents filed by Penns Woods with the SEC may also be obtained free of charge at the SEC's website or by directing a request to Penns Woods at the address provided above.

Penns Woods and Luzerne and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Penns Woods and Luzerne in connection with the proposed merger.  Information about the directors and executive officers of Penns Woods is set forth in the proxy statement, dated March 21, 2012, for Penns Woods' 2012 annual meeting of shareholders, as filed with the SEC on Schedule 14A.  Additional information regarding the interests of such participants and other persons who may be deemed participants in the transaction may be obtained by reading the joint proxy statement/prospectus included in the Form S-4 when it becomes available.

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