COLUMBUS, Ohio, Sept. 21,
2023 /PRNewswire/ -- Northwest Bancshares, Inc.
(Nasdaq: NWBI) (the "Company") and Northwest Bank announced today
that they have entered into a retirement agreement and a consulting
agreement pursuant to which Senior Executive Vice President, Chief
Financial Officer and Chief Operating Officer William W. Harvey, Jr. will transition from his
current roles in 2024. Mr. Harvey will retire from the Company and
Northwest Bank and their associated boards on December 31, 2024 but remain with the
organization as a consultant through December 31, 2025. His continued employment and
consulting periods are designed to assist with a seamless
transition of duties.
The Company and Northwest Bank have initiated a search to hire
an individual who will serve as Mr. Harvey's replacement as Chief
Financial Officer. The search will consider both internal and
external candidates. The Company estimates that the search will
take four to six months to complete.
In connection with this announcement, President and Chief
Executive Officer of the Company and Northwest Bank, Louis J. Torchio said "I would like to thank
Bill for his decades-long contributions to Northwest Bank. His
noteworthy experience with finance, mergers and acquisitions,
operations and strategy have been invaluable in supporting
Northwest's growth. In addition, he provided quality stewardship of
the bank while serving as interim President and Chief Executive
Officer following Ron Seiffert's
passing in 2022. We look forward to Bill's continued leadership and
involvement as we work together to recruit and onboard our next
Chief Financial Officer. We respect Bill's personal decision to
retire and thank him for his ample and thoughtful notice. We wish
he and Amy all the best in their well-deserved retirement."
Mr. Harvey said "It has been a privilege and a true pleasure
working with the Board of Directors, leadership team and employees
of Northwest Bank for the past 27 years. I am proud of the work we
accomplished in growing the Northwest organization while navigating
evolving market and economic landscapes. I am confident that
Northwest is well-positioned to capitalize on future
opportunities."
About Northwest
Headquartered in Columbus, Ohio, Northwest Bancshares, Inc. is
the bank holding company of Northwest Bank. Founded in 1896 and
headquartered in Warren,
Pennsylvania, Northwest Bank is a full-service financial
institution offering a complete line of business and personal
banking products, as well as employee benefits and wealth
management services. As of June 30, 2023, Northwest operated
134 full-service community banking offices and eight free standing
drive-through facilities in Pennsylvania, New
York, Ohio and
Indiana. 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 Press Release contains
forward-looking statements regarding the future operations of the
Company and Northwest Bank. For these statements, the Company and
Northwest Bank claim the protections of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Statements in this communication
should be considered in conjunction with the other information
available about the Company and Northwest Bank, including the
information in the filings the Company makes with the U.S.
Securities and Exchange Commission. Forward-looking statements
provide current expectations or forecasts of future events and are
not guarantees of future performance. The forward-looking
statements are based on management's expectations and are subject
to a number of risks and uncertainties. Forward-looking statements
are typically identified by using words such as "anticipate,"
"estimate," "expect," "project," "intend," "plan," "believe,"
"would," "will" and similar expressions in connection with any
discussion of future operating or financial performance.
Undue reliance should not be placed on the forward-looking
statements, which speak only as of the date hereof. The Company and
Northwest Bank do not undertake, and specifically disclaim any
obligation, to publicly release the result of any revisions that
may be made to update any forward-looking statement to reflect the
events or circumstances after the date on which the forward-looking
statement is made, or reflect the occurrence of unanticipated
events, except to the extent required by law.
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SOURCE Northwest Bancshares, Inc.; Northwest Bank