WARREN, Pa., April 18, 2014 /PRNewswire/ -- Northwest Bancshares, Inc., the parent company of Northwest Savings Bank, has been recognized by Forbes as one of America's 50 Most Trustworthy Financial Companies.
In determining the most trustworthy publicly-traded companies in North America, Forbes employs GMI Ratings, an independent proprietary ratings provider and investment advisor. GMI assigns each company an accounting and governance risk score (AGR) based on factors like high-risk events, revenue and expense recognition methods, SEC actions and bankruptcy risk.
The 50 companies named to this year's list have the highest scores for the past four quarters of the fiscal year.
"If you're interested in investing in any of the companies on this list, you can be really comfortable that what you're reading about them is an honest reflection of what's going on in the company," says James Kaplan, director of GMI Ratings. "When you read it, you can believe it."Northwest has made Forbes' most trustworthy list three times in the past five years. "Northwest's mission is to build loyalty, trust and value among our employees, customers, communities and shareholders," said William J. Wagner, president and CEO of Northwest Bancshares, Inc. "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." Northwest Savings Bank operates 165 community banking locations in Pennsylvania, New York, Ohio and Maryland. Founded in 1896, Northwest is a full-service financial institution offering a complete line of personal and business banking products including employee benefits, investment management services, insurance and trust. Northwest Bancshares, Inc. is the holding company of Northwest Savings Bank and is listed on the NASDAQ Global Select Market as NWBI. More information about Northwest can be found online at www.northwestsavingsbank.com. To read the Forbes article, see: http://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/ Photo Caption: © 2014, The NASDAQ OMX Group, Inc. Reprinted with permission.