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.
