Penns Woods Bancorp (PWOD) Investor Presentation summary

Company overview and structure

• Operates 24 branches with $2.3 billion in assets and $1.7 billion in deposits, headquartered in Williamsport, PA.

• Market presence spans key Pennsylvania MSAs, with strong deposit market share in Williamsport and Lock Haven.

• Structure includes Jersey Shore State Bank, Luzerne Bank, and several financial and insurance subsidiaries.

• Focuses on regional community banking, long-term shareholder value, and exceptional customer service.

• Plans for a future holding company structure to support regional expansion.

Financial performance and growth

• Total assets grew from $1.5 billion in 2014 to $2.3 billion in 2024, with a 6% CAGR in gross loans.

• Tangible book value plus dividends grew 127.9% since 2014, outperforming peers by 6%.

• Return on average tangible common equity (ROATCE) for Q3 2024 was 15.7%, above peer average.

• Basic earnings per share remained stable, with $2.34 in 2023 and $2.27 YTD 2024.

• Tier 1 capital increased from $112M in 2014 to $193M in 2024, with cumulative cash dividends of $13.93 per share since 2014.

Deposit and loan portfolio

• Maintains a high-quality, consistent deposit base with a 42% current cycle deposit beta and 3.08% cost of interest-bearing deposits.

• Loan portfolio is 44% residential, 29% commercial real estate, and 13% auto loans as of Q3 2024.

• Deposit composition: 27% non-interest bearing, 19% money market, 19% time deposits, 13% NOW, 12% savings, 10% brokered CDs.

• Cost of total deposits at 2.27% and yield on total loans at 5.46% in Q3 2024.