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  6. Northwest Bancshares Acquires Penns Woods Bancorp

M&A Deal Summary

Northwest Bancshares Acquires Penns Woods Bancorp

On December 17, 2024, Northwest Bancshares acquired financial services company Penns Woods Bancorp for 270M USD

Acquisition Highlights
  • This is Northwest Bancshares’ 5th transaction in the Financial Services sector.
  • This is Northwest Bancshares’ largest (disclosed) transaction.
  • This is Northwest Bancshares’ 7th transaction in the United States.
  • This is Northwest Bancshares’ 5th transaction in Pennsylvania.

M&A Deal Summary
Date 2024-12-17
Target Penns Woods Bancorp
Sector Financial Services
Buyer(s) Northwest Bancshares
Deal Type Add-on Acquisition
Deal Value 270M USD
Advisor(s) Dinsmore & Shohl
Stevens & Lee (Legal)

Target

Penns Woods Bancorp

Williamsport, Pennsylvania, United States
Penns Woods Bancorp is a provider of retail banking, commercial banking, mortgage services, and financial services. Penns Woods Bancorp was founded in 1983 and is based in Williamsport, Pennsylvania.

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Buyer(S) 1

Buyer

Northwest Bancshares

Columbus, Ohio, United States
Category Company
Founded 1896
Sector Financial Services
Employees2,060
Revenue 548M USD (2023)
DESCRIPTION

Northwest Bancshares is a holding company of Northwest Savings Bank. Northwest Savings Bank is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services, as well as the fulfillment of business and personal insurance needs. Northwest Bancshares was founded in 1896 and is based in Columbus, Ohio.

DEAL STATS #
Overall 7 of 7
Sector (Financial Services) 5 of 5
Type (Add-on Acquisition) 6 of 6
State (Pennsylvania) 5 of 5
Country (United States) 7 of 7
Year (2024) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-07 MutualFirst Financial

Warren, Pennsylvania, United States

MutualFirst Financial is a holding company for MutualBank and provides a full range of financial services including business banking, wealth management, trust services, investments, and internet banking services.

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