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Northwest Bancshares
Northwest Bancshares

-6.36%

Financial services / Banking and Financial Services

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview

Northwest Bancshares is a financial holding company based in Warren, Pennsylvania. The company operates through its banking subsidiary, Northwest Bank, which offers a wide range of financial services including personal and business banking, wealth management, and insurance services.
Northwest Bancshares was founded in 1896 and has grown to become one of the largest community banks in Pennsylvania. The company has over 200 branch locations in Pennsylvania, New York, Ohio, and Maryland, and employs over 2,000 people.
In addition to its banking operations, Northwest Bancshares also owns various subsidiaries including Northwest Investment Services, Inc., Northwest Consumer Discount Company, and Northwest Insurance Services.
The company is publicly traded on the NASDAQ stock exchange, under the ticker symbol NWBI. As of 2020, Northwest Bancshares has a market capitalization of over $1.5 billion.
Northwest Bancshares has a strong commitment to the communities it serves and is involved in various philanthropic and community outreach efforts. The company also has a strong focus on sustainability and has implemented various environmentally-friendly practices in its operations.

What is special about the company?

1. Strong community banking focus: Northwest Bancshares is primarily a community bank that serves local communities in Pennsylvania, New York, Ohio, and Maryland. The bank is committed to providing personalized service and building relationships with its customers.
2. Long and stable history: The company has been in business since 1896, making it one of the oldest community banks in the United States. This long history has allowed the company to build a strong reputation and establish itself as a trusted financial institution.
3. Customer-centric approach: Northwest Bancshares prioritizes its customers and their needs. It offers a range of products and services tailored to meet the specific needs of its local communities, including personal and business banking, mortgage loans, and investment options.
4. Consistent profitability: Despite economic ups and downs, Northwest Bancshares has consistently maintained profitability and has a strong financial performance track record. This stability makes it a reliable and trustworthy option for customers and investors.
5. Commitment to innovation: Despite its long history, Northwest Bancshares has embraced technological advancements and is committed to continuously innovating and improving its products and services. This has helped the company remain competitive in the fast-changing financial industry.
6. Committed to community involvement: Northwest Bancshares is dedicated to giving back to the local communities it serves through various charitable initiatives and community involvement programs. This commitment to making a positive impact sets the company apart from other financial institutions.
7. Strong corporate culture: Northwest Bancshares has a strong corporate culture that values integrity, teamwork, and diversity. This culture has led to high employee satisfaction and has been recognized with multiple workplace awards and honors.

What the company's business model?

Northwest Bancshares, Inc. is a financial holding company that provides banking and financial services to individuals and businesses through its subsidiary, Northwest Bank. The company's business model is centered around its community bank, which offers a wide range of products and services, including:
1. Traditional banking services: Northwest Bank provides traditional banking services such as checking and savings accounts, loans, mortgages, and credit cards to its customers. It also offers online and mobile banking services for convenient access.
2. Wealth management and investment services: Northwest Bank offers investment products and services, such as brokerage and financial planning, through its subsidiary, Northwest Wealth Management.
3. Insurance services: The company offers insurance products, including life, health, and property and casualty insurance, through Northwest Insurance Services.
4. Commercial banking: Northwest Bank provides specialized banking services to small and mid-sized businesses, including commercial lending, treasury management, and cash management services.
5. Trust and estate planning: Northwest Bank offers trust and estate planning services through its subsidiary, Northwest Financial Group, to help customers manage their assets and protect their wealth.
Overall, Northwest Bancshares' business model is based on providing a comprehensive range of financial products and services to meet the needs of its customers and communities, while maintaining a focus on community involvement and customer satisfaction.

Interesting facts about the company

1. Northwest Bancshares is a publicly traded bank holding company headquartered in Warren, Pennsylvania.
2. The company was founded in 1896 as the Warren Savings & Trust Company.
3. Northwest Bancshares operates under three different subsidiary banks: Northwest Bank, The Berkshire Bank, and Northwest Consumer Discount Company.
4. The company has a presence in Pennsylvania, New York, Ohio, and Maryland, with over 170 branch locations and over 200 ATMs.
5. Northwest Bancshares has over $13 billion in assets and is one of the top 40 largest publicly traded banks in the United States.
6. In 2017, Northwest Bancshares was listed as one of the Top 50 Community Banks in the country by American Banker.
7. The company has been consistently profitable for over 100 years and has paid quarterly dividends to its shareholders since 1896.
8. In addition to banking services, Northwest Bancshares also offers insurance, wealth management, and investment services through its subsidiaries.
9. The company is committed to giving back to the communities it serves through its charitable foundation, which has donated over $19 million to local organizations.
10. Northwest Bancshares has a strong focus on customer service and has been recognized for its outstanding customer satisfaction ratings by J.D. Power and Associates.
11. The Chairman and CEO of Northwest Bancshares, William Wagner, has been with the company since 1981 and has overseen its growth and success for over 30 years.
12. In 2014, Northwest Bancshares completed its largest acquisition to date, acquiring 18 branches and $1.04 billion in deposits from 13 banks in Pennsylvania and Ohio.
13. Northwest Bancshares has been recognized for its commitment to diversity and inclusion, receiving the Human Rights Campaign’s Corporate Equality Award in 2020.
14. The company has also been recognized for its strong financial performance and has been named one of the Top 200 Community Banks by American Banker for five consecutive years.
15. Northwest Bancshares continues to grow and expand its operations, with plans to open new branches and extend its reach in existing markets.

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