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CONSOLIDATED STATEMENT OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME:      
Loans, including fees $ 83,291,000 $ 58,682,000 $ 53,232,000
Investment securities:      
Taxable 5,346,000 3,634,000 3,281,000
Tax-exempt 517,000 823,000 655,000
Dividend and other interest income 2,441,000 1,789,000 1,246,000
TOTAL INTEREST AND DIVIDEND INCOME 91,595,000 64,928,000 58,414,000
INTEREST EXPENSE:      
Deposits 22,131,000 3,690,000 5,545,000
Short-term borrowings 8,401,000 1,007,000 9,000
Long-term borrowings 6,099,000 2,451,000 3,142,000
TOTAL INTEREST EXPENSE 36,631,000 7,148,000 8,696,000
NET INTEREST INCOME 54,964,000 57,780,000 49,718,000
(Recovery) provision for loan credit losses (927,000) 1,910,000 640,000
Recovery for off balance sheet credit exposures (552,000) 0 0
TOTAL (RECOVERY) PROVISION FOR CREDIT LOSSES (1,479,000) 1,910,000 640,000
NET INTEREST INCOME AFTER (RECOVERY) PROVISION FOR CREDIT LOSSES 56,443,000 55,870,000 49,078,000
NON-INTEREST INCOME:      
Net debt securities (losses) gains, available for sale (193,000) (219,000) 699,000
Net equity securities gains (losses) 15,000 (146,000) (40,000)
Bank-owned life insurance 1,063,000 664,000 916,000
Gain on sale of loans 1,046,000 1,131,000 2,474,000
Other 930,000 931,000 838,000
TOTAL NON-INTEREST INCOME 8,375,000 8,713,000 11,669,000
NON-INTEREST EXPENSE:      
Salaries and employee benefits 25,062,000 24,267,000 23,014,000
Occupancy 3,168,000 3,080,000 3,209,000
Furniture and equipment 3,392,000 3,288,000 3,522,000
Software amortization 843,000 840,000 868,000
Pennsylvania shares tax 1,082,000 1,452,000 1,350,000
Professional fees 2,953,000 2,434,000 2,432,000
Federal Deposit Insurance Corporation deposit insurance 1,578,000 938,000 963,000
Marketing 684,000 690,000 545,000
Intangible amortization 117,000 154,000 191,000
Goodwill impairment 0 653,000 0
Other 5,617,000 5,202,000 4,811,000
TOTAL NON-INTEREST EXPENSE 44,496,000 42,998,000 40,905,000
INCOME BEFORE INCOME TAX PROVISION 20,322,000 21,585,000 19,842,000
INCOME TAX PROVISION 3,714,000 4,163,000 3,794,000
CONSOLIDATED NET INCOME 16,608,000 17,422,000 16,048,000
Earnings attributable to noncontrolling interest 0 0 15,000
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC. $ 16,608,000 $ 17,422,000 $ 16,033,000
EARNINGS PER SHARE - BASIC (in dollars per share) $ 2.34 $ 2.47 $ 2.27
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 2.34 $ 2.47 $ 2.27
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 7,112,450 7,059,437 7,061,818
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 7,112,450 7,059,437 7,061,818
Service charges      
NON-INTEREST INCOME:      
Service charges, insurance commissions, brokerage commissions, and debit card income $ 2,090,000 $ 2,103,000 $ 1,703,000
Insurance commissions      
NON-INTEREST INCOME:      
Service charges, insurance commissions, brokerage commissions, and debit card income 529,000 491,000 553,000
Brokerage commissions      
NON-INTEREST INCOME:      
Service charges, insurance commissions, brokerage commissions, and debit card income 575,000 620,000 851,000
Loan broker income      
NON-INTEREST INCOME:      
Service charges, insurance commissions, brokerage commissions, and debit card income 992,000 1,674,000 2,164,000
Debit card income      
NON-INTEREST INCOME:      
Service charges, insurance commissions, brokerage commissions, and debit card income $ 1,328,000 $ 1,464,000 $ 1,511,000