WILLIAMSPORT, Pa., May 8, 2014 (GLOBE NEWSWIRE) -- 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.