M&A Deal Summary

Northwest Bancshares Acquires LNB Bancorp

On August 14, 2015, Northwest Bancshares acquired financial services company LNB Bancorp for 179M USD

Acquisition Highlights
  • This is Northwest Bancshares’ 3rd transaction in the Financial Services sector.
  • This is Northwest Bancshares’ largest (disclosed) transaction.
  • This is Northwest Bancshares’ 5th transaction in the United States.
  • This is Northwest Bancshares’ 1st transaction in Ohio.

M&A Deal Summary
Date 2015-08-14
Target LNB Bancorp
Sector Financial Services
Buyer(s) Northwest Bancshares
Deal Type Merger
Deal Value 179M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Calfee, Halter & Griswold LLP (Legal)

Target

LNB Bancorp

Lorain, Ohio, United States
website
LNB Bancorp, Inc. is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services.

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Buyer(S) 1

Buyer

Northwest Bancshares

Columbus, Ohio, United States

website

Category Company
Founded 1896
Sector Financial Services
Employees2,251
Revenue 530M USD (2022)
DESCRIPTION

Northwest Bancshares is the holding company of Northwest Savings Bank. Northwest Savings Bank is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services, as well as the fulfillment of business and personal insurance needs. Northwest operates 165 community banking offices in Pennsylvania, New York, Ohio and Maryland and 50 consumer finance offices in Pennsylvania through its subsidiary, Northwest Consumer Discount Company. Northwest Bancshares was founded in 1896 and is based in Columbus, Ohio.

DEAL STATS #
Overall 5 of 6
Sector (Financial Services) 3 of 4
Type (Merger) 1 of 1
State (Ohio) 1 of 1
Country (United States) 5 of 6
Year (2015) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-27 Evans Capital Management

Erie, Pennsylvania, United States

Evans Capital Management specializes in comprehensive financial planning services for individuals, profit sharing and 401(k) plans, trusts, estates, charitable organizations and small business. The firm serves all of Northwestern Pennsylvania and has an extensive list of individual, business, non-profit and public clients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-10 Northwest Bancshares - Three Branches

Baltimore, Maryland, United States

Northwest Bancshares, Inc. - Three Branches is a provider of financial services located in the greater Baltimore, Maryland metropolitan area with approximately $214 million in deposits, $152 million of performing loans and $40 million of cash.

Sell -
Mergr

Product

Company

Legal