Northwest Bancshares has hired a veteran Ohio banker to fill the new position of president and chief operating officer.
Ronald J. Seiffert, 60, is set to join Warren, Pa.-based parent of Northwest Bank effective Nov. 13, the bank announced Thursday. William J. Wagner, who is currently Northwest's president, will retain his roles as chairman and CEO after Seiffert starts.
Seiffert for six years was the chairman, CEO and president of DCB Financial in Ohio until it was acquired earlier this year by First Commonwealth Financial Corp. Seiffert also previously worked for Ohio Dominican University — including as its interim president — Bank One, and Huntington Bancshares.
Wagner said Seiffert's "significant experience and proven track record as a commercial banker will provide invaluable support to Northwest's continued efforts to grow our commercial lines of business." Seiffert will receive a base salary of $500,000, according to a regulatory filing.
DCB Financial had $550 million in assets before it was acquired. Northwest had $9.5 billion in assets as of the end of the third quarter.
Northwest several months ago disclosed it would hire someone to serve as president and chief operating officer, due to the bank's growth in size and complexity. Part of its growth stemmed from acquiring 18 First Niagara Bank branches just over a year ago. Northwest ranks No. 4 in deposit market share in the Buffalo Niagara region.