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Northwest Bank CEO had compensation of $1.03 million in 2018

Ronald J. Seiffert had total compensation of $1.03 million as Northwest Bancshares' chairman, president and CEO in 2018, when he took over the bank's top leadership roles.

Seiffert, 61, joined the Pennsylvania-based parent company of Northwest Bank in November 2017 as its president and chief operating officer. He was promoted to president and CEO in June 2018, succeeding William J. Wagner.

Seiffert's salary was $574,423 in 2018. His total compensation included a bonus of more than $140,000, plus stock awards and option awards. Seiffert's total compensation was 32 times that of the median Northwest employee's $35,110.

Wagner in 2018 collected a salary of $440,412, down 35 percent from 2017, and total compensation of $806,776. He retired as executive chairman last October.

Northwest Bank ranked No. 5 in deposit market share in the Buffalo Niagara region last year. Its annual shareholders meeting is scheduled for April 17 in Warren, Pa.

 

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