Penns Woods Bancorp (PWOD) Announces 5% Buyback Plan
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Richard A. Grafmyre, CEO of Penns Woods Bancorp, Inc., (NASDAQ: PWOD) has announced that the Company’s Board of Directors has authorized the repurchase of up to 5% of the outstanding shares of the Company. The repurchase plan is for a one-year period ending April 30, 2022 and allows for the repurchase of up to 353,000 shares. The repurchase plan replaces the Company’s existing repurchase plan, which expires on April 30, 2021.
Repurchases are authorized to be made by the Company from time to time at the prevailing market prices on the open market, in block trades or in privately negotiated transactions as, in management’s opinion, market conditions warrant. Shares repurchased will be held in Treasury.
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