Northwest Bancshares, Inc. Announces Board of Directors Leadership Transition
Northwest Bancshares (NWBI) announced a leadership transition in its board of directors. Timothy B. Fannin has stepped down as Board Chair ahead of his planned 2026 retirement and has been succeeded by Timothy M. Hunter, who previously served as Vice Chair. Hunter, who joined the board in 2015, brings extensive business experience as the former President and CEO of McInnes Rolled Rings (2003-2024) and is a CPA with Ernst & Young background.
The transition comes as Northwest is poised to become a Top 100 US bank following its upcoming merger with Penns Woods, expected to close in late July 2025. This merger represents the largest acquisition in the company's history. Under Fannin's leadership since 2013, Northwest has made significant progress in executing its strategic growth plan, focusing on customer-focused, community banking.
Northwest Bancshares (NWBI) ha annunciato un cambio nella leadership del suo consiglio di amministrazione. Timothy B. Fannin si è dimesso dal ruolo di Presidente del Consiglio in vista del suo pensionamento previsto per il 2026 ed è stato sostituito da Timothy M. Hunter, che in precedenza ricopriva la carica di Vicepresidente. Hunter, entrato nel consiglio nel 2015, porta con sé una vasta esperienza imprenditoriale come ex Presidente e CEO di McInnes Rolled Rings (2003-2024) ed è un CPA con esperienza in Ernst & Young.
La transizione avviene mentre Northwest si prepara a diventare una delle prime 100 banche statunitensi grazie alla fusione imminente con Penns Woods, che dovrebbe concludersi a fine luglio 2025. Questa fusione rappresenta la più grande acquisizione nella storia dell'azienda. Sotto la guida di Fannin dal 2013, Northwest ha compiuto notevoli progressi nell'attuazione del suo piano strategico di crescita, concentrandosi su una banca comunitaria orientata al cliente.
Northwest Bancshares (NWBI) anunció una transición en el liderazgo de su junta directiva. Timothy B. Fannin renunció a su puesto como presidente de la junta antes de su retiro previsto para 2026 y fue sucedido por Timothy M. Hunter, quien anteriormente se desempeñaba como vicepresidente. Hunter, que se unió a la junta en 2015, aporta una amplia experiencia empresarial como ex presidente y CEO de McInnes Rolled Rings (2003-2024) y es un CPA con experiencia en Ernst & Young.
La transición ocurre mientras Northwest se prepara para convertirse en uno de los Top 100 bancos de EE.UU. tras su próxima fusión con Penns Woods, que se espera cierre a finales de julio de 2025. Esta fusión representa la adquisición más grande en la historia de la compañía. Bajo el liderazgo de Fannin desde 2013, Northwest ha avanzado significativamente en la ejecución de su plan estratégico de crecimiento, enfocándose en una banca comunitaria centrada en el cliente.
Northwest Bancshares (NWBI)는 이사회 리더십 전환을 발표했습니다. Timothy B. Fannin은 2026년 은퇴 예정에 앞서 이사회 의장직에서 물러났으며, 이전 부의장이었던 Timothy M. Hunter가 그 자리를 이어받았습니다. 2015년에 이사회에 합류한 Hunter는 McInnes Rolled Rings의 전 사장 겸 CEO(2003-2024)로서 풍부한 경영 경험을 갖고 있으며, Ernst & Young 출신의 공인회계사입니다.
이번 전환은 Northwest가 2025년 7월 말에 마무리될 예정인 Penns Woods와의 합병을 통해 미국 상위 100대 은행으로 도약할 준비를 하는 시점에 이루어졌습니다. 이 합병은 회사 역사상 가장 큰 인수합병입니다. 2013년부터 Fannin의 리더십 아래 Northwest는 고객 중심의 지역사회 은행으로서 전략적 성장 계획을 성공적으로 추진해왔습니다.
Northwest Bancshares (NWBI) a annoncé un changement de leadership au sein de son conseil d'administration. Timothy B. Fannin a démissionné de son poste de président du conseil en vue de sa retraite prévue en 2026 et a été remplacé par Timothy M. Hunter, qui était auparavant vice-président. Hunter, membre du conseil depuis 2015, apporte une vaste expérience professionnelle en tant qu'ancien président et PDG de McInnes Rolled Rings (2003-2024) et est expert-comptable avec une expérience chez Ernst & Young.
Cette transition intervient alors que Northwest s'apprête à devenir une banque américaine du Top 100 suite à sa prochaine fusion avec Penns Woods, dont la clôture est prévue fin juillet 2025. Cette fusion représente la plus grande acquisition de l'histoire de l'entreprise. Sous la direction de Fannin depuis 2013, Northwest a réalisé des progrès significatifs dans l'exécution de son plan stratégique de croissance, en se concentrant sur une banque communautaire axée sur le client.
Northwest Bancshares (NWBI) hat einen Führungswechsel in seinem Vorstand bekannt gegeben. Timothy B. Fannin ist vor seinem geplanten Ruhestand im Jahr 2026 als Vorstandsvorsitzender zurückgetreten und wurde von Timothy M. Hunter abgelöst, der zuvor als stellvertretender Vorsitzender tätig war. Hunter, der 2015 in den Vorstand eingetreten ist, bringt umfangreiche Geschäftserfahrung mit, unter anderem als ehemaliger Präsident und CEO von McInnes Rolled Rings (2003-2024) und ist ein Wirtschaftsprüfer mit Erfahrung bei Ernst & Young.
Der Wechsel erfolgt, während Northwest kurz davor steht, nach der bevorstehenden Fusion mit Penns Woods, die voraussichtlich Ende Juli 2025 abgeschlossen wird, zu einer der Top 100 US-Banken zu werden. Diese Fusion stellt die größte Übernahme in der Unternehmensgeschichte dar. Unter Fannins Führung seit 2013 hat Northwest bedeutende Fortschritte bei der Umsetzung seines strategischen Wachstumsplans gemacht, der sich auf kundenorientiertes Gemeinschaftsbanking konzentriert.
- Company on track to become a Top 100 US bank through Penns Woods merger
- Largest acquisition in company's history to close in July 2025
- New Chairman brings strong financial background as CPA and extensive business leadership experience
- Smooth leadership transition with experienced board member
- Loss of experienced board chairman who guided significant growth since 2013
Mr. Fannin joined the board in 2013 and was appointed Non-Executive Chairman in 2022. Mr. Hunter joined the Board in 2015, was appointed Vice Chair in 2023 and, at the company's recent annual meeting, was appointed to the Non-Executive Chairman position.
"On behalf of our Board, executive leadership team and Northwest team members, I'd like to thank Tim Fannin for all his contributions to the company," said Louis J. Torchio, President and CEO, Northwest Bancshares, Inc. "The company is in a dramatically different place from when he joined the board in 2013. His deep financial experience and leadership has helped us make significant progress on our strategy, to where we are today, on track to becoming a Top 100 US bank by assets in late July when we expect to close on our merger with Penns Woods."
Fannin added, "It has been an honor to serve as Chairman of Northwest Bancshares, Inc. I am proud of all that the company has accomplished, working to deliver against its strategic growth plan, including largest acquisition in the company's history, and building on its rich heritage of customer-focused, community banking. With a talented team in place and the company solidly executing on its organic and inorganic growth strategy, it is the right time to transition Board leadership."
Hunter commented, "It has been a privilege to serve on the Board with Tim since I joined in 2015. Under his leadership, the company has made great progress. As Chairman, I look forward to working with Lou and his executive leadership team to continue moving the company forward, and capitalizing on opportunities aligned with our strategy for sustainable, responsible, and profitable growth."
Torchio concluded, "Having served the past two years as Northwest's Vice Chair, and as former Chair of the Bank's Compensation Committee, coupled with his business and financial experience, Tim is highly qualified and well suited for his new role. We will be well served by Tim's leadership in the coming years, and I look forward to working closely with him."
Hunter has extensive business experience, and he served as President and Chief Executive Officer of McInnes Rolled Rings in
About Northwest Bancshares, Inc.
Headquartered in
Forward-Looking Statements
This release may contain forward-looking statements with respect to the proposed merger between Northwest and Penns Woods including, without limitation, statements with respect to the expected timing of and benefits of the proposed merger. Such statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including, without limitation: (1) the merger may not close in the prospective timeframe, or at all; (2) the businesses of Northwest and Penns Woods may not be integrated successfully or such integration may take longer to accomplish than expected; (3) the expected cost savings and any revenue synergies from the proposed merger may not be fully realized within the expected timeframes; and (4) disruption from the proposed merger may make it more difficult to maintain relationships with clients, associates, or suppliers. 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, except as required by law.
Northwest Bancshares Contacts
Investor Contact: Michael Perry, Corporate Development & Strategy (814) 726-2140
Media Contact: Ian Bailey, External Communications (380) 400-2423
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SOURCE Northwest Bank
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