Northwest Savings Bank
| Public | |
| Traded as | NASDAQ: NWBI |
| Industry | Financial services |
| Founded | 1896 |
| Headquarters | Warren, Pennsylvania |
Key people |
William J. Wagner, President and CEO William W. Harvey, Jr, Executive Vice President and Chief Financial Officer |
| Products | Personal Banking, Business Banking, & Corporate Banking |
| Total assets | $7.0 billion (2009) |
| Website | www.northwestsavingsbank.com |
Northwest Bank , formerly Northwest Savings Bank is an American commercial bank. It was founded in Warren, Pennsylvania in 1896. Today, Northwest has 171 branches in Pennsylvania, New York, Maryland, Ohio, and Florida. The parent company, Northwest Bancshares, has $7.0 billion in assets. Northwest offers free checking, online banking, and online bill pay. In addition, it also offers 32,000 free ATMs.
In 2009, Northwest was named in Forbes list of 100 Most Trustworthy Companies, where they were ranked as number 54. They were also the highest ranking savings bank on the list.
On May 5, 2010, Northwest announced it was acquiring NexTier Bank, based out of Butler, Pennsylvania, for $20.3 million in cash. The deal will add sixteen branches, bringing Northwest's total up to 187, and increase its market share in the Pittsburgh market.[1] The merger was called off in November 2010, as Northwest was unable to gain the proper regulatory approvals for the merger.[2]
On April 28, 2016, as part of the merger deal between KeyBank and First Niagara Bank, Northwest agreed to buy 18 First Niagara branches in Erie and Niagara Counties in New York for antitrust reasons, significantly boosting Northwest's market share in Western New York.[3]