Warren-based Northwest Bancshares, Inc, the parent company of Northwest Savings Bank, has been recognized by Forbes magazine as one of America’s 50 Most Trustworthy Financial Companies for the third time in five years.
To determine the winners, Forbes assigns each company accounting and governance risk scores based on several factors, including high-risk events, SEC actions and bankruptcy risk.
“Northwest’s mission is to build loyalty, trust and value among our employees, customers, communities and shareholders,” said William J. Wagner, chief executive of the company. “We look at this recognition by Forbes as validation that our company is achieving success in that endeavor. We are pleased and humbled to receive such an honor.”
The company, which has 165 locations in Pennsylvania, New York, Ohio and Maryland, also announced that it’s been named to the 2013 Bank Honor Roll of superior performers by KBW, an investment bank that specializes in the financial sector.
Northwest is one of 31 U.S. banks named to the honor roll this year.