Brief: Penns Woods Bancorp, Inc. Reports First Quarter 2020 Earnings

Penns Woods Bancorp

23/04/2020 18:54

April 23 (Reuters) - Penns Woods Bancorp Inc  PWOD.O :
    * PENNS WOODS BANCORP, INC. REPORTS FIRST QUARTER 2020
EARNINGS
    * Q1 CORE EARNINGS PER SHARE $0.44
    * Q1 EARNINGS PER SHARE $0.44
    * INCREASED PROVISION FOR LOAN LOSSES DUE TO ECONOMIC
UNCERTAINTY
CAUSED BY COVID-19 PANDEMIC
    * SIGNIFICANTLY REDUCED DEPOSIT RATES DURING LATTER HALF OF
MARCH
2020
    * PARTICIPATED IN PAYCHECK PROTECTION PROGRAM BY PRIMARILY
UTILIZING THIRD PARTIES TO SERVICE AND PLACE LOANS
    * ALL COVID-19 RELATED LOAN DEFERRALS MEET REQUIREMENTS TO
NOT BE
CONSIDERED A TROUBLED DEBT RESTRUCTURING
    * NET INTEREST MARGIN COMPRESSION EXPECTED TO CONTINUE AS
RATE
ENVIRONMENT REMAINS BELOW HISTORICAL LEVELS

Source text for Eikon:  ID:nGNX8tD9xN 
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