William W. Harvey,
Jr. Appointed Chief Operating Officer
COLUMBUS, Ohio, Aug. 18,
2022 /PRNewswire/ -- Northwest Bancshares, Inc.
(Nasdaq: NWBI) and Northwest Bank today announced that Louis J. Torchio has been appointed President
and Chief Executive Officer of both companies, effective
immediately. Mr. Torchio joined Northwest Bank in 2018, most
recently serving as Senior Executive Vice President, Retail Lending
and Business Banking.
Mr. Torchio brings more than 31 years of experience in the
banking industry to his position as President and Chief Executive
Officer. Prior to joining Northwest, he held senior leadership and
executive committee positions at both large regional and community
banks, including the former Charter One Bank, Bank One and Mellon
Bank. At Northwest Bank, Mr. Torchio led the transformation and
scaling of the residential lending and indirect lending groups,
which generated significant fee income and balance sheet growth.
Additionally, Mr. Torchio launched an initiative to further develop
and expand the business banking and Small Business Administration
(SBA) lending divisions.
Mr. Torchio is a graduate of Fairmont State University where he
earned degrees in Business Administration and Computer Science. In
addition, he earned a Master of Business Administration in Finance
and Financial Services Management at Franklin
University.
Also, effective immediately, William W.
Harvey, Jr., who served as interim President and Chief
Executive Officer since the passing of Northwest's Chairman,
President, and Chief Executive Officer Ronald J. Seiffert on May
24, 2022, has been named Chief Operating Officer in addition
to his responsibilities as Chief Financial Officer. Prior to his
assuming the position of interim President and Chief Executive
Officer, Mr. Harvey served for 20 years as Chief Financial Officer.
He will continue in this capacity. Mr. Harvey has been employed by
Northwest Bank since 1996.
Both Mr. Torchio and Mr. Harvey have been appointed to the
Northwest Bancshares, Inc., and Northwest Bank Board of Directors.
Timothy B. Fannin, who has served as
interim Chairman of the Board of Northwest Bancshares, Inc., and
Northwest Bank since the passing of Mr. Seiffert, will continue in
the role as Chairman of the Board.
In announcing today's appointments, Mr. Fannin said, "Lou's
strong familiarity with our organization and depth of industry
experience make him the ideal person to lead Northwest Bank into
its next era as a growing, successful, and independent financial
institution. As we continue to execute our strategic plan, the
board of directors and I are excited about what the future holds
for Northwest under the extremely capable leadership of Lou, Bill,
and the rest of our Northwest executive leadership team."
"I'm humbled and honored to serve as President and Chief
Executive Officer of Northwest Bank," said Mr. Torchio. "I'm
looking forward to collaborating with colleagues across the Bank as
we continue our pursuit of excellence for our customers and our
team members in every aspect of our organization and work to
maximize shareholder return as we remain mindful of our risk
profile in an ever-changing economic environment."
About Northwest
Northwest Bancshares, Inc (Nasdaq:
NWBI) is a $14 billion asset
financial services company headquartered in Columbus, Ohio, and the parent company of
Northwest Bank, a Pennsylvania
chartered savings bank headquartered in Warren,
Pennsylvania. The Company serves consumers, small businesses,
corporations, and municipalities with a diverse offering of
banking, lending, payments, and wealth management solutions. As of
June 30, 2022, Northwest Bank
operates 142 full-service branches across Pennsylvania, New
York, Ohio, and
Indiana and provides customers
fee-free access to more than 55,000 ATMs across the United States. Visit northwest.com for
more information.
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 or the ability to complete
sales transactions; (7) increased risk associated with commercial
real-estate and business loans; and (8) the effect of any pandemic,
including COVID-19, war or act of terrorism. 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.
www.northwest.bank
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SOURCE Northwest Bancshares, Inc.; Northwest Bank