WARREN, Pa. - Northwest Bancshares, Inc. - Nasdaq GS: "NWBI" - the holding company for Northwest Savings Bank, announced recently that the Federal Deposit Insurance Corporation has terminated its Consent Order with Northwest Savings Bank dated Aug. 8, 2011.
The Consent Order related to strengthening various components of Northwest Savings Bank's consumer compliance management system. The termination of the Consent Order by the FDIC reflects the diligence of Northwest Savings Bank's Board of Directors and staff in addressing the terms of the Consent Order as well as its continued focus on service to its customers. The company anticipates an informal regulatory understanding with respect to continued consumer compliance may be requested.
Founded in 1896 and headquartered in Warren, Pa., Northwest Bancshares, Inc., through its subsidiary Northwest Savings Bank, currently operates 167 community banking locations in Pennsylvania, New York, Ohio and Maryland. Northwest Savings Bank is a full-service financial institution offering a complete line of retail and business banking products as well as investment management and trust services. The Company also operates 52 consumer finance offices in Pennsylvania through its subsidiary, Northwest Consumer Discount Company. Northwest Bancshares, Inc.'s stock is listed on the NASDAQ Global Select Market. Additional information regarding Northwest Bancshares, Inc. can be accessed on-line at www.northwestsavingsbank.com.