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Business

Northwest Bank thinks it can get more out of its mortgage business in the Buffalo region, and is staffing up to do so. The bank will hire as many as 10 mortgage loan originators in the region, for a team led by a former Five Star Bank official, Rocco Diina. "When I first came to the bank, we were doing well in the mortgage business," said Ronald Seiffert, the preside…

Buffalo

A group of 10 banks and local philanthropic foundations – including M&T Bank Corp. and the Ralph C. Wilson Jr. Foundation – are pledging more than $8 million to support nonprofit organizations working on Buffalo's East Side, building off the state's recent commitment of $50 million to benefit the same impoverished areas. The partnership is creating a pooled investme…

Business

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, succeedin…

Buffalo

Just one month after opening its doors, the new Northwest Bank branch on Jefferson Avenue has a new owner for the real estate. Developers David Pawlik and Nick Sinatra, through 240 Kensington LLC, sold the freshly opened bank branch at 1228, 1242 and 1256 Jefferson to Carl Emmerling's 8418 Marshalling LLC, for $665,000. The 0.45-acre site features a single-story, 3,0…

Prospectus

As banks try to grab more deposit market share and attract more business clients, they are scooping up experienced personnel from competitors and giving them new roles. Big players in the region are also hiring and promoting new people to important roles, eager to keep their edge over their competitors. Here is a look at one up-and-comer at area banks; click here to see mo…

Business

Northwest Bank will relocate its branch on Transit Road in Clarence just up the street from its current location, into a property with a long track record in banking. Northwest will move its branch to 6525 Transit Road, which is about three-tenths of a mile north of its current location at 6409 Transit, near the intersection with Casey Road and Old Post Road. The bank e…

Business

William J. Wagner, who joined Northwest Bank in 1984, will retire as executive chairman and a board member on Oct. 5. Wagner has remained in those roles since retiring as CEO in June. The Pennsylvania-based bank announced his plan to retire from the board in the fourth quarter, but had not specified a date. During Wagner's 15-year tenure as CEO, Northwest built a big…

Business

A year ago, Northwest Bancshares reaped a $17.2 million gain from selling its three Maryland offices. Without that one-time gain this year, the bank's second-quarter profits dropped 15 percent to $26.3 million, from $31 million in 2017. The Pennsylvania-based bank had diluted earnings per share of 25 cents, compared to 30 cents a year ago. Northwest is preparing t…

Business

Rick Hamister developed an interest in banking at an early age, from his mother. She was an M&T Bank teller in the 1950s at the Southgate Plaza branch in West Seneca. "She talked to me about banking from the time I was little," Hamister said. "I always thought banking was just a noble profession. We take care of communities and individuals and businesses, and that's…

Business

Northwest Bank has hired Rick Hamister, a KeyBank vice president who has a long banking resume, to lead its operations in New York state. Hamister was named president of Northwest's New York Region, a territory that includes its Buffalo Niagara operations. That position recently became vacant when the Pennsylvania-based bank promoted John Golding to executive vice presi…

Buffalo

The redevelopment of Jefferson Avenue is heating up, as a proposed new bank branch is moving forward just north of a planned new residential housing complex, while the developers behind both projects now have a new office building on the drawing board. Northwest Bancorp on Monday received an endorsement from the Buffalo Planning Board for its new East Side bank branch o…

Business

John Golding, the face of Northwest Bank in the Buffalo area, is getting promoted. The Pennsylvania-based bank named Golding executive vice president of business development. He has served as Northwest's New York region president, stepping into that role in 2016 as Northwest acquired 18 former First Niagara branches. In his new position, Golding will be responsible f…

Business

Ronald J. Seiffert's arrival at Northwest Bank reflects the bank's growth, driven partly by its expanded presence in a competitive Buffalo Niagara region. And he's eager to join the fray. The veteran banker joined Northwest last November as president and chief operating officer. Before that, William Wagner had held the roles of chairman, president and CEO. But the Warre…

Business

Banks serving the Buffalo Niagara region are gearing up for another year of competition, and many of them appointed new leaders in the past year. Here is a look at some of them. M&T Bank Shelley C. Drake, Western New York region president With about 47 years of experience with M&T Bank, it's hard to top Drake for longevity at the bank. Even the late chairm…