Company Profile
- Northwest Bancshares, Inc. (NASDAQ: NWBI) (“the company”) is the bank holding company for Columbus, OH based Northwest Bank (“the bank”) (est. 1896). The company was established upon the completion of the bank’s transition from a mutual savings bank to stock savings bank in 2009. NWBI offers a full line of financial services that includes investment management and trust services, primarily serving the communities of western and central Pennsylvania as well as parts of western New York, Ohio, and Indiana.
- The company had been relatively acquisitive in the years leading up to the pandemic, completing six total transactions between 2015 - 2020, though more recently, has focused on organic loan growth.
- NWBI has a more consumer driven loan portfolio with residential mortgage and consumer loans comprising 41% and 18% of total loans, respectively, at 2Q24. The residential mortgage portfolio (which includes +25% in home equity loans) is primarily…