SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 22, 2017
Northwest Bancshares, Inc.
(Exact name of registrant as specified in its charter)
|
|
|
|
|
|
|
|
|
Maryland
|
|
1-34582
|
|
27-0950358
|
|
(State or other jurisdiction
|
|
(Commission File No.)
|
|
(I.R.S. Employer
|
|
of incorporation)
|
|
|
|
Identification No.)
|
|
|
|
|
|
|
|
100 Liberty Street
Warren, Pennsylvania
|
|
16365
|
|
(Address of principal executive office)
|
|
(Zip code)
|
Registrant’s telephone number, including area code:
(814) 726-2140
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
Indicate by check mark whether the registrant is an merging growth company as defined in Rule 405 of the Securities Act of 1933 (
§
230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (
§
240.12b-2 of this chapter).
o
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
Item 8.01
Other Events
On May 22, 2017 the Company issued a press release announcing the completion of the sale of three offices in Maryland. A copy of the release is included as exhibit 99.1
Item 9.01
Financial Statements and Exhibits
(a)
Not applicable
(b)
Not applicable
(c)
Not applicable
(d)
Exhibits
|
|
|
|
|
|
|
|
Exhibit No.
|
|
Description
|
|
99.1
|
|
|
Press release dated May 22, 2017
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
NORTHWEST BANCSHARES, INC.
|
|
|
|
|
|
|
|
|
|
DATE:
|
May 25, 2017
|
|
By:
|
/s/ William W. Harvey, Jr.
|
|
|
|
|
William W. Harvey, Jr.
|
|
|
|
|
Chief Financial Officer
|
|
|
|
|
|
|
FOR IMMEDIATE RELEASE
|
|
|
|
|
|
|
|
|
|
|
Contact:
|
William J. Wagner, President and Chief Executive Officer (814) 726-2140
|
|
|
William W. Harvey, Jr. Senior Executive Vice President and Chief Financial Officer
(814) 726-2140
|
Northwest Bank Completes Sale of Maryland Offices
Warren, Pennsylvania — May 22, 2017
Northwest Bank, a subsidiary of Northwest Bancshares, Inc. (NasdaqGS: NWBI), announced the completion of the sale of three full-service offices in Maryland to Shore United Bank, a subsidiary of Shore Bancshares, Inc., on May 19, 2017. In addition to the transfer of the three office facilities, the divestiture included $212 million of deposits and $125 million of loans. The Company recorded a $17 million gain on the sale which will be reflected in the earnings for the second quarter.
Headquartered in Warren, Pennsylvania, Northwest Bancshares, Inc. is the holding company of Northwest Bank. Founded in 1896, Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services, as well as the fulfillment of business and personal insurance needs. Northwest operates 164 full-service community banking offices and nine free standing drive-through facilities in Pennsylvania, New York and Ohio. 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 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; and (7) increased risk associated with commercial real-estate and business loans. 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.