WARREN, Pa., Nov. 2, 2017 /PRNewswire/ -- Northwest Bancshares, Inc. (NasdaqGS: NWBI) and Northwest Bank announced that Ronald J. Seiffert has been hired to serve as President and Chief Operating Officer of both entities. Mr. Seiffert will commence employment on November 13, 2017. As President and Chief Operating Officer of Northwest, Mr. Seiffert will oversee the strategic planning process as well as the company's Revenue and Production Division and the Technology, Operations, Finance and Support Division.
Upon Mr. Seiffert's arrival, William J. Wagner, currently Chairman, President and CEO, will remain as Chairman and CEO of both Northwest Bancshares, Inc. and Northwest Bank.
Mr. Seiffert began his banking career with a prominent mid-west bank and served in various positions for twenty-three years as the bank grew from $2 billion to $26 billion in assets. While most of his experience was focused on commercial banking products and services, at various times he provided oversight to the retail services, private banking, dealer sales and credit administration functions. His responsibilities encompassed the management of the bank's delivery channels which included all production personnel and branch offices in the bank's seven geographic regions. In his final years with this institution, Mr. Seiffert rose to the level of Vice-Chairman of the bank's Commercial Banking Group.
Most recently, Mr. Seiffert served for six years as Chairman, President and CEO of a $550 million community bank in central Ohio. In that capacity he led efforts to improve the bank's performance by raising capital, improving credit quality, recruiting talent and implementing new systems, processes and procedures. Through these efforts, the profitability of the bank was greatly enhanced and the market capitalization of the bank was significantly increased.
In making the announcement, Chairman Wagner commented "the Board of Directors of Northwest is pleased to welcome Ron Seiffert as President and Chief Operating Officer to our institution. Ron's significant experience and proven track record as a commercial banker will provide invaluable support to Northwest's continued efforts to grow our commercial lines of business. In addition, Ron's deep roots in community banking will closely align with Northwest's traditional role as one of the country's premier regional community banks."
Headquartered in Warren, Pennsylvania, Northwest Bancshares, Inc. is the holding company of Northwest Bank. Founded in 1896, Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services, as well as the fulfillment of business and personal insurance needs. Northwest operates 164 full-service community banking offices and nine free standing drive-through facilities in Pennsylvania, New York and Ohio. Northwest Bancshares, Inc.'s common stock is listed on the NASDAQ Global Select Market ("NWBI"). Additional information regarding Northwest Bancshares, Inc. and Northwest Bank can be accessed on-line at www.northwest.com.
Forward-Looking Statements - This release may contain forward-looking statements with respect to the financial condition and results of operations of Northwest Bancshares, Inc. including, without limitations, statements relating to the earnings outlook of the Company. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include among others, the following possibilities: (1) changes in the interest rate environment; (2) competitive pressure among financial services companies; (3) general economic conditions including an increase in non-performing loans; (4) changes in legislation or regulatory requirements; (5) difficulties in continuing to improve operating efficiencies; (6) difficulties in the integration of acquired businesses; and (7) increased risk associated with commercial real-estate and business loans. Management has no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this release.
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SOURCE Northwest Bancshares, Inc.