Northwest Bank Promotes Jim Colestro to Executive Vice President

Rhea-AI Summary

On October 6, 2022, Northwest Bank announced the promotion of Jim Colestro to executive vice president of retail lending and business banking. Colestro, who has been with the bank for 15 years, is credited with driving retail lending growth and developing the bank's first virtual lending program. In his new role, he will lead growth initiatives across the bank's footprint. Northwest Bancshares, Inc. (NASDAQ: NWBI) operates 142 branches across four states and offers a variety of banking and financial services.

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• Jim Colestro promoted to executive vice president, indicating confidence in leadership.
• Colestro's experience in retail lending and development of virtual lending programs may drive growth.

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• None.

WARREN, Pa., Oct. 6, 2022 /PRNewswire/ -- Northwest Bank, a full-service financial institution offering a complete line of business and personal banking products, today announced the promotion of Jim Colestro as executive vice president, retail lending and business banking. Colestro has held several positions throughout his 15-year career at the bank, including management roles in the retail network and corporate retail lending departments. The announcement was shared by Louis Torchio, president and CEO, Northwest Bank.

Northwest Bank announced the promotion of Jim Colestro as EVP, retail lending and business banking. 

"Jim has been an integral part of Northwest's retail lending growth since 2007 and we couldn't be prouder of Jim as he elevates into his new role as executive vice president," Torchio said. "Having led the strategy development and implementation of the bank's first virtual lending program and mortgage business development force, Jim has proven to be a vital asset to Northwest Bank."

In his new role, Colestro will lead Northwest Bank's retail lending and business banking teams and their growth initiatives across the bank's footprint.  

Of his new opportunity, Colestro said, "It is an honor to lead Northwest Bank's retail lending and business banking growth alongside our dedicated team of banking professionals. I look forward to leveraging my previous experience to continue serving and supporting our valued customers in this new role."

Colestro earned a bachelor's degree in economics and business management with minors in finance and marketing from the University of Pittsburgh at Bradford and is a graduate of the Pennsylvania Bankers Association School of Banking.

The son of James and Ann Colestro of Bradford, Pennsylvania, Jim resides in Columbus, Ohio with his wife, Cami and English bulldog, Gabby. During his free time, Colestro volunteers for CHA Animal Shelter.

About Northwest Bank
Northwest Bancshares, Inc (Nasdaq: NWBI) is a $14 billion asset financial services company headquartered in Columbus, Ohio, and the parent company of Northwest Bank, a Pennsylvania chartered savings bank headquartered in Warren, Pennsylvania. The Company serves consumers, small businesses, corporations, and municipalities with a diverse offering of banking, lending, payments, and wealth management solutions. As of September 30, 2022, Northwest Bank operates 142 full-service branches across Pennsylvania, New York, Ohio, and Indiana and provides customers fee-free access to more than 55,000 ATMs across the United States.  Visit www.northwest.com for more information.

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SOURCE Northwest Bank

FAQ

Who is Jim Colestro at Northwest Bank?

Jim Colestro is the newly promoted executive vice president of retail lending and business banking at Northwest Bank.

What does Jim Colestro's promotion mean for Northwest Bank?

Colestro's promotion is expected to enhance leadership in retail lending and business banking initiatives.

What is the significance of Northwest Bank's promotion of Jim Colestro?

The promotion signifies a strategic move to strengthen retail lending growth and business banking operations.

When did Jim Colestro become executive vice president of Northwest Bank?

Jim Colestro was promoted on October 6, 2022.

What is Northwest Bancshares, Inc. stock symbol?

The stock symbol for Northwest Bancshares, Inc. is NWBI.