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EMPLOYEE STOCK PURCHASE PLAN
12 Months Ended
Dec. 31, 2012
EMPLOYEE STOCK PURCHASE PLAN  
EMPLOYEE STOCK PURCHASE PLAN

NOTE 13 - EMPLOYEE STOCK PURCHASE PLAN

 

The Company maintained the Penns Woods Bancorp, Inc. 2006 Employee Stock Purchase Plan (“Plan”). The Plan is intended to encourage employee participation in the ownership and economic progress of the Company. The Plan allows for up to 1,000,000 shares to be purchased by employees.  The purchase price of the shares is 95% of market value with an employee eligible to purchase up to the lesser of 15% of base compensation or $12,000 in market value annually. There were 1,435 and 1,924 shares issued under the plan for the years ended December 31, 2012 and 2011, respectively.