M&A · Financials · State Commercial Banks
Northwest Bancshares, Inc. to acquire Penns Woods Bancorp Inc
Announced Dec 17, 2024 · Closed Jul 28, 2025
Deal value$270M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Northwest Bancshares, Inc. (NWBI)
- Target
- Penns Woods Bancorp Inc (PWOD)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Jul 28, 2025
Deal protections
- Break fee (target pays)
- $10.0M · 3.7%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Janney Montgomery Scott
- To the target
- Stephens
Sector context · Financials
- Comparable deals
- 57 in the prior 24 months
- Premium
- Sector median 33.5%
- EV / Adj. EBITDA
- Sector median 13.7x
- Break fee
- 3.7% vs. 3.3% sector median
Timeline
- AnnouncedDec 17, 2024
- Proxy filedFeb 24, 2025
- Definitive proxyFeb 24, 2025
- Shareholder voteApr 22, 2025
- ClosedJul 28, 2025