Northwest Establishes Holding Company Headquarters in the Columbus Region, Creating New Jobs
Columbus, Ohio – Northwest Bank, a full-service financial institution that offers a complete line of business and personal banking products, insurance services, employee benefits and investment management, has announced plans to relocate its holding company headquarters (Northwest Bancshares, Inc.) to Columbus, Ohio, from Warren, Pennsylvania. The company will create over 50 new jobs over the next several years in the Columbus Region, with hiring beginning in the fourth quarter of 2021.
Northwest’s new holding company headquarters will be located at 3 Easton Oval in Columbus, near its existing mortgage fulfillment center at 1 Easton Oval, and will occupy 19,000 square feet of the fifth floor, with rights to more space as needed. This relocation to Columbus will position Northwest as a major player and progressive competitor in the national market, with the Region’s central location and rich talent pool supporting the company’s vision for growth.
“Centrally-located within our bank’s operating footprint, Columbus’ successful evolution enhances our strategy to attract and recruit employees in a growing market that shares and amplifies our aspirations,” said Northwest Bank President and CEO Ron Seiffert. “Relocating our holding company headquarters to Columbus is an integral component of our plan to continue providing best-in-class service and access to our customers, support the livelihood and wellbeing of our employees and their families, contribute to the growth of our local businesses and economies and give back to community organizations that make a difference in the lives of others.”
Founded in 1896, Northwest Bank maintains assets of $13.8 billion and operates 162 full-service community banking offices and eight free standing drive-through facilities in Pennsylvania, New York, Ohio and Indiana. Northwest’s investment in Ohio began in 2015 with its acquisition of Lorain National Bank, and the company has since expanded its presence in the Midwest through its merger in Q2 2020 with MutualFirst Financial, Inc., the $2 billion Indiana-based holding company and parent of MutualBank. Northwest currently employs 52 full-time workers in the Columbus Region. Recently in Forbes’ 12th annual look at America’s Best Banks, which ranks the 100 largest publicly traded banks and thrifts based on their growth, credit quality and profitability, Northwest ranked 64 on the list.
“By establishing its new holding company headquarters in Columbus, Northwest Bank will strengthen our region’s presence as a national hub for financial services and provide quality jobs for our highly skilled talent pool in this sector,” said City of Columbus Mayor Andrew J. Ginther. “We look forward to supporting the company as it expands its presence in the Region.”
Financial and insurance related activities comprise the top sector of economic output in the Columbus Region. Companies ranging from Huntington Bancshares and JPMorgan Chase & Co. to Nationwide and State Farm benefit from the Columbus Region’s continuous growth and skilled talent pool. Nearly 40 academic and vocational institutions with business, finance and communication programs are here, representing over 4,100 degree completions annually that produce large talent pools ready to enter the market. Columbus is in Franklin County, which is home to an estimated 1,310,300 residents.
“We and our partners welcome Northwest Bank’s decision to choose Ohio for its new holding company headquarters,” said JobsOhio President and CEO J.P. Nauseef. “This investment demonstrates the capacity of the Columbus Region’s outstanding financial services talent pool, which will play an essential role in Northwest Bank’s continued regional expansion.”
About Northwest Bank
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. As of December 31, 2020, Northwest operates 162 full-service community banking offices and eight free standing drive-through facilities in Pennsylvania, New York, Ohio and Indiana. 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.
About the City of Columbus, Ohio
The City of Columbus is the 14th largest city in the United States with a population of 879,170 residents. The Columbus economy is balanced with a combination of education, technology, government, research, insurance and health care entities as major employers within the City. Columbus is gaining nationwide recognition for its booming downtown, historic
neighborhoods, arts and sporting districts, open attitude and a noticeably affordable quality of life. Learn more about the City of Columbus at www.columbus.gov/development/Economic-Development.
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow the company on LinkedIn, Twitter and Facebook.
About One Columbus As the economic development organization for the 11-county Columbus Region, One Columbus’ mission is to lead a comprehensive regional growth strategy that develops and attracts the world’s most competitive companies, grows a highly adaptive workforce, prepares our communities for the future, and inspires corporate, academic and public innovation throughout the Columbus Region. One Columbus expertly guides companies through the location decision process. Through strategic business outreach and customized research, the One Columbus team leverages public, private and institutional partnerships to grow the Columbus Region’s economy and strengthen its national and international competitiveness. Funding is received from more than 300 private organizations, local governments, academic institutions and JobsOhio. Learn more at ColumbusRegion.com.
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