WARREN, Pa., Aug. 8, 2016 /PRNewswire/ -- Northwest
Bancshares, Inc. (NasdaqGS: NWBI) announced that its wholly-owned
subsidiary, Northwest Bank, has received the necessary regulatory
approvals from the Pennsylvania Department of Banking and
Securities and the Federal Deposit Insurance Corporation for the
proposed acquisition of 18 First Niagara Bank offices. The
transaction is expected to close on September 9, 2016.
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 150 full-service
community banking offices and seven free standing drive-through
facilities in Pennsylvania,
New York, Ohio and Maryland and 51 consumer finance offices in
Pennsylvania through its
subsidiary, Northwest Consumer Discount Company. 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.