WILLIAMSPORT - Penns Woods Bancorp Inc., the holding company of Jersey Shore State Bank, recently held its annual shareholders meeting.
Richard A. Grafmyre, CFP, president and CEO, presided over the meeting. Ronald A. Walko, chairman of the board commenced, the meeting by introducing Grafmyre and initiating the meeting's agenda.
President Grafmyre; Brian L. Knepp, CPA, senior vice president/CFO; Robert J. Glunk, senior vice president/COO; and Ann M. Riles, senior vice president/senior credit officer and chief administrative officer, presented informational reports discussing the company's performance during 2011.Grafmyre also discussed future strategic initiatives planned for the company.
The following directors were re-elected to serve three-year terms for the corporation: Leroy H. Keiler III, Hubert A. Valencik and Ronald A. Walko. S.R. Snodgrass, A.C., was ratified as the independent registered public accounting firm for the company.
Shareholders also approved amendments to the corporation's articles of incorporation to increase the authorized number of shares of common stock from 10 million to 15 million and to authorize 3 million shares of preferred stock.
Jersey Shore State Bank is a wholly-owned subsidiary of Penns Woods Bancorp Inc., with full service offices in Clinton, Centre, Lycoming and Montour counties. Investment and insurance products are also offered through the bank's subsidiary, The Comprehensive Financial Group.