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Northwest to cross $10B in assets with bid for Donegal Financial Services

Jun 13, 2018 - SNL Financial

The Durbin Amendment is the "last hurdle" for Northwest Bancshares Inc. as it prepares to cross $10 billion in assets, CFO William Harvey Jr. said on a deal call.

Northwest Bancshares announced it will acquire Donegal Financial Services Corp. in a cash-and-stock transaction for about $85 million. The buyer, which was already at $9.5 billion in assets, was poised to organically grow to above $10 billion in assets in 2019 anyway, the executive said. Crossing that threshold subjects the bank ...