Northwest Bancshares, Inc. operates as the holding company for Northwest Savings Bank that provides personal and business banking solutions, investment management and trust services, and insurance products. The company, through a wholly-owned subsidiary, Northwest Consumer Discount Company, also offers consumer finance loans. As of December 31, 2015, the company operated 181 community-banking locations throughout its market area in central and western Pennsylvania, western New York, eastern Ohio and Maryland. Northwest Consumer Discount Company operates 51 consumer finance offices in Pennsylvania. The company also offers investment management and trust services and through wholly-owned subsidiaries, actuarial and benefit plan administration services, as well as property and casualty and employer benefit plan insurance. Market Area Pennsylvania Market Area: The company’s retail branch network within the state of Pennsylvania encompasses 28 counties. In addition, through its consumer finance offices the company operates in 12 additional counties in the state. Its southeastern Pennsylvania market is primarily driven by service businesses but also serves as a bedroom community to the cities of Baltimore, Maryland and Philadelphia, Pennsylvania. Western New York Market Area: The company’s retail branch network in New York encompasses five counties in the western portion of the state. Northeastern Ohio Market Area: The company encompasses five counties in northeastern Ohio, including the Cleveland metro area. Maryland Market Area: The company operates four community banking offices in Baltimore and Howard counties in Maryland. Lending Activities The company’s principal lending activities are the origination of fixed-rate and, to a lesser extent, adjustable-rate mortgage loans collateralized by one-to-four-family residential real estate, shorter term consumer loans and the origination of loans collateralized by multi-family residential and commercial real estate and commercial business loans. Generally, it focuses its lending activities in the geographic areas where it maintains offices. The company has sought to make its interest-earning assets more interest rate sensitive by originating adjustable-rate loans, such as adjustable-rate residential mortgage loans and home equity lines of credit, and by originating short-term and medium-term fixed-rate consumer loans. It purchases mortgage-backed securities and other types of investment securities that generally have short average lives and/or adjustable interest rates. Because it originates a substantial amount of long-term fixed-rate mortgage loans collateralized by one-to-four-family residential real estate, when possible, it originates and underwrites loans according to standards that allow it to sell them into the secondary mortgage market for purposes of managing interest-rate risk and liquidity. The company sells low-yielding fixed rate residential mortgage loans. Residential Mortgage Loans: The company offers residential mortgage loans with terms ranging from 15 to 30 years, with either fixed or adjustable interest rates. Its fixed rate residential mortgage loan products offer fixed rates for approximately 30 years. The company’s fixed rate residential mortgages are originated and underwritten according to secondary mortgage market guidelines. Its adjustable rate residential mortgage loans offer initial interest rate adjustment periods of 1, 3, and 5 years, terms approximately 30 years and adjustments based on changes in designated market indices. The company offers fixed-rate and adjustable-rate residential construction loans primarily for the construction of owner-occupied one-to-four-family residences in its market area to builders or to owners who have a contract for construction. Construction loans are structured to become permanent mortgages, and are originated with terms of approximately 30 years with an allowance of approximately 1 year for construction. Home Equity Loans: The company’s home equity loans are secured by the borrower’s principal residence with a maximum loan-to-value ratio, including the principal balances of bot
northwest bancshares inc
100 Liberty Street
Warren, PA 16365
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