NWBI - Northwest Bank sells its insurance business to USI

Northwest Bank, a subsidiary of Northwest Bancshares (NWBI), has entered into a definitive agreement to sell its insurance business offered through Northwest Insurance Services to USI Insurance Services."We are very pleased to have reached a definitive agreement with USI. USI is a well-managed, national provider who combines industry-leading capabilities delivered through longstanding, passionate and committed local service teams," said orthwest Bank's President and CEO Ron Seiffert. The transaction is expected to close early in Q2 2021, subject to customary closing conditions.Stock +2% after-hour."NWBI is offering an attractive dividend yield and a decent price upside," writes Sheen Bay Research on Seeking Alpha.

For further details see:

Northwest Bank sells its insurance business to USI