Ronald Seiffert was named president and chief operating officer of Northwest Bank and its holding company, Northwest Bancshares, both of Warren, Pa. He joins the bank November 13.
He succeeds William J. Wagner, who will retain his titles of chairman and CEO of both the holding company and bank.
Seiffert will oversee the strategic planning process as well as the company’s revenue and product division and the technology, operations, finance and support division. The bank is close to hitting the critical $10 billion threshold.
Prior to joining Northwest, Seiffert was with the $550-million Delaware County Bank and Trust in Delaware, Ohio. He joined DCB in 2011 and spearheaded the troubled bank’s successful turnaround by raising capital, improving credit quality, recruiting talent and implementing new systems, processes and procedures. Through these efforts, the profitability of the bank was greatly enhanced and the market capitalization of the bank was significantly increased. In addition, he negotiated the sale of the bank to Indiana, Pa.-based First Commonwealth Financial Corporation which closed earlier this spring.
Seiffert began his banking career at Huntington National Bank of Columbus, Ohio in 1979 and served in various positions for twenty-three years as the bank grew from $2 billion to $26 billion in assets. While most of his experience was focused on commercial banking products and services, at various times he provided oversight to the retail services, private banking, dealer sales and credit administration functions. His responsibilities encompassed the management of the bank’s delivery channels which included all production personnel and branch offices in the bank’s seven geographic regions. In his final years at Huntington, Seiffert rose to the level of vice-chairman of the bank’s commercial banking group.
Seiffert also spent three years at JP Morgan Chase as executive vice president and national head of business banking.
“Ron’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. In addition, Ron’s deep roots in community banking will closely align with Northwest’s traditional role as one of the country’s premier regional community banks,” Wagner said.
Seiffert is a graduate of Washington University in St. Louis with a bachelor’s in business administration, finance and economics. He also graduated with honors from the ABA Stonier Graduate School of Banking.
Founded in 1896, Northwest Bank is a full-service financial institution with $9.6 billion in assets and offices in Pennsylvania, New York and Ohio.