WARREN, Pa. -- Northwest Savings Bank has completed its reorganization into a mutual holding company, raising $67.5 million in a related common stock offering.
New shareholders of the $1.4 billion-asset thrift will begin receiving stock certificates around Nov. 8.
About 3.45 million shares were issued in the offering, representing about 30% of the thrift's stock. The remaining stock will be controlled by the new mutual holding company, Northwest Bancorp.
The stock will trade on Nasdaq under the symbol "NWSB."
Northwest operates 45 branches in central and northwestern Pennsylvania.
