Northwest Bank

 

Jennifer Gibson introduced Northwest Savings Bank President/CEO William Wagner to the club this day. To say that William does many wonderful things for the community would be an understatement, as a list of several organizations and clubs that he contributes to was presented by Jennifer. 

 

Northwest Savings Bank is headquartered just south of Jamestown in Warren, PA. William began by discussing the bank's long history and evolution. What started as a financial institution in Bradford, PA in 1896 has now grown to a system of bank branches and offices with $9.6 billion in assets in 2016. In fact, William pointed out that between 1896 and 1976, the banks assets grew to $100 million. It's only been since the bank went public in 1994 that its assets have grown ever increasingly.

 

An honor (one of many) that Northwest Savings Bank holds is being a Top 100 bank in the United States. Considering there are thousands of banks across the country, this is certainly a high honor. 

 

In the last 2 years, Northwest has grown larger due to the acquisition of 18 former First Niagara bank branches, mostly in the Buffalo market. That has allowed Northwest to take a strong foothold in that heavily populated region of Western New York. Northwest has a total of 36 branches in WNY, with branches in other states in the Northeast. 

 

Also since the bank went public in 1994, William says the bank has diversified greatly, offering much more than just savings accounts and checking accounts. This, among many other factors, have helped make the bank more profitable, with Northwest Savings Bank stocks rising since 1994. 

 

William closed by mentioning Northwest's Mission: To build loyalty, trust & value among our employees, customers, communities & shareholders. He also praised our Rotary for the great numbers of people who attend each week, and for the many things we do in the community.