WILLIAMSPORT, Pa., Nov. 5, 2014 (GLOBE NEWSWIRE) -- Penns Woods Bancorp, Inc. (Nasdaq:PWOD) and Jersey Shore State Bank has extended the contract with President and CEO, Richard A. Grafmyre CFP® for 5 years through October 31, 2019 with an additional four year extension through October 2023. Penns Woods Bancorp, Inc is the parent company of Jersey Shore State Bank and Luzerne Bank.
Grafmyre has lead Penns Woods Bancorp, Inc. and Jersey Shore State Bank since October 2010 during which time the company has experienced unprecedented growth. Under his leadership Penns Woods Bancorp, Inc. acquired Luzerne Bank and JSSB has opened 2 new branches with a third set to begin construction.
According to Edward Nestlerode, Penns Woods Bancorp, Inc. Chairman of the Board, "It has been a privilege to work with Dick during this exciting time. His experience, leadership, and emphasis on team building are just a few of the reasons behind our company's growth and success. I am excited to be a part of Penns Woods Bancorp."
Penns Woods Bancorp, Inc. is the parent company of Jersey Shore State Bank, which operates fourteen branch offices providing financial services in Lycoming, Clinton, Centre, and Montour Counties, and Luzerne Bank, which operates eight branch offices providing financial services in Luzerne County. Investment and insurance products are offered through Jersey Shore State Bank's subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group.