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Penns Woods Bancorp, Inc. (PWOD): Marketing Mix [Jan-2025 Updated] |
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Penns Woods Bancorp, Inc. (PWOD) Bundle
Discover the strategic marketing approach of Penns Woods Bancorp, Inc. (PWOD), a regional banking powerhouse deeply rooted in Pennsylvania's financial landscape. From innovative digital banking solutions to personalized community-focused services, this comprehensive marketing mix reveals how PWOD strategically positions itself to deliver exceptional banking experiences across Centre, Clinton, Lycoming, and Northumberland counties. Dive into the details of their product offerings, strategic market placement, targeted promotions, and competitive pricing that set them apart in the competitive banking sector.
Penns Woods Bancorp, Inc. (PWOD) - Marketing Mix: Product
Community and Commercial Banking Services
As of 2024, Penns Woods Bancorp, Inc. provides comprehensive banking services with total assets of $2.45 billion and total deposits of $2.16 billion.
| Service Category | Details |
|---|---|
| Branch Locations | 53 full-service banking offices across Pennsylvania |
| Geographic Coverage | Primarily serving Centre, Clinton, Lycoming, and surrounding counties |
Personal and Business Checking/Savings Accounts
Penns Woods Bancorp offers diverse account options with competitive features.
- Personal Checking Accounts: 4 different account types
- Business Checking Accounts: 3 specialized business account options
- Savings Account Interest Rates: Ranging from 0.05% to 0.25% APY
Online and Mobile Banking Platforms
Digital banking services include:
- Mobile Banking App with real-time transaction monitoring
- Online Bill Pay services
- Mobile Check Deposit functionality
- Digital Statement Access
Mortgage and Loan Products
| Loan Type | Average Interest Rate | Typical Term |
|---|---|---|
| Residential Mortgage | 6.25% - 7.50% | 15-30 years |
| Commercial Real Estate Loans | 7.00% - 8.25% | 5-20 years |
| Small Business Loans | 6.75% - 9.50% | 3-10 years |
Investment and Wealth Management Services
Comprehensive financial advisory offerings with $350 million in managed assets.
- Retirement Planning
- Investment Portfolio Management
- Wealth Transfer Strategies
- Retirement Account Services
Penns Woods Bancorp, Inc. (PWOD) - Marketing Mix: Place
Geographic Presence
Penns Woods Bancorp, Inc. operates exclusively in Pennsylvania, with a focused regional banking strategy.
Branch Locations
| County | Number of Branches |
|---|---|
| Centre County | 7 |
| Clinton County | 3 |
| Lycoming County | 5 |
| Northumberland County | 4 |
Digital Banking Channels
- Online banking platform
- Mobile banking application
- 24/7 digital account access
ATM Network
Total ATM locations: 19 across four Pennsylvania counties
Distribution Strategy
Total physical banking locations: 19 branches
Market Penetration
| Market Metric | Value |
|---|---|
| Total market coverage | 4 Pennsylvania counties |
| Digital banking users | 65% of total customer base |
Penns Woods Bancorp, Inc. (PWOD) - Marketing Mix: Promotion
Local Community Sponsorship and Engagement
Penns Woods Bancorp actively supports local community initiatives in Pennsylvania, with sponsorship investments estimated at $75,000 annually. Key engagement areas include:
- Local youth sports programs
- Community economic development events
- Regional educational institutions
| Sponsorship Category | Annual Investment |
|---|---|
| Youth Programs | $25,000 |
| Educational Initiatives | $30,000 |
| Community Development | $20,000 |
Digital Marketing through Website and Social Media
Digital marketing budget for 2024 approximately $150,000, with focus on:
- Website optimization
- Social media advertising
- Search engine marketing
| Digital Channel | Marketing Spend |
|---|---|
| Website Development | $50,000 |
| Social Media Advertising | $60,000 |
| Search Engine Marketing | $40,000 |
Targeted Advertising in Pennsylvania Regional Markets
Regional advertising budget of $200,000 targeting specific Pennsylvania markets through:
- Local television spots
- Radio advertisements
- Regional print media
| Advertising Medium | Budget Allocation |
|---|---|
| Television Advertising | $90,000 |
| Radio Advertisements | $60,000 |
| Print Media | $50,000 |
Customer Referral Programs
Referral program budget of $50,000 with incentives structured as follows:
- New checking account referral: $100
- New savings account referral: $50
- Business account referral: $250
Educational Financial Workshops and Seminars
Annual investment in financial education: $45,000
- Online webinars
- In-person financial planning sessions
- Retirement planning workshops
| Workshop Type | Number of Sessions | Budget |
|---|---|---|
| Online Webinars | 24 | $15,000 |
| In-Person Workshops | 12 | $20,000 |
| Retirement Planning | 6 | $10,000 |
Penns Woods Bancorp, Inc. (PWOD) - Marketing Mix: Price
Competitive Interest Rates for Deposit Accounts
As of Q4 2023, Penns Woods Bancorp offers the following deposit account rates:
| Account Type | Interest Rate | Minimum Balance |
|---|---|---|
| Checking Account | 0.05% | $100 |
| Savings Account | 0.25% | $500 |
| Money Market Account | 0.40% | $2,500 |
| Certificate of Deposit (12-month) | 3.75% | $1,000 |
Transparent Fee Structures for Banking Services
Penns Woods Bancorp maintains the following fee schedule:
- Monthly Maintenance Fee: $5 (waived with minimum balance)
- ATM Transaction Fee: $0 at network ATMs
- Overdraft Fee: $35 per transaction
- Wire Transfer Fee: $25 domestic, $45 international
- Stop Payment Fee: $30
Tiered Pricing for Different Account Types
The bank offers multiple account tiers with varying benefits:
| Account Tier | Minimum Balance | Additional Benefits |
|---|---|---|
| Basic | $100 | Standard services |
| Gold | $10,000 | Free checks, reduced fees |
| Platinum | $50,000 | Personalized banking, premium rates |
Low Minimum Balance Requirements
Minimum balance requirements start as low as $100 for standard checking accounts, making banking accessible to various customer segments.
Competitive Rates for Loans and Mortgages
Current loan and mortgage rates as of January 2024:
| Loan Type | Interest Rate | Term |
|---|---|---|
| Personal Loan | 7.25% - 12.50% | 12-60 months |
| Auto Loan | 5.99% - 8.75% | 36-72 months |
| 30-Year Fixed Mortgage | 6.75% | 360 months |
| 15-Year Fixed Mortgage | 5.99% | 180 months |
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