WARREN, Pa., July 5 /PRNewswire-FirstCall/ -- William J. Wagner, President
of Northwest Bancorp, Inc (Nasdaq: NWSB), the parent company of Northwest
Savings Bank, has announced that Northwest is included in the new NASDAQ
Global Select Market. The NASDAQ Global Select Market has the highest initial
listing standards of any exchange in the world based on financial and
liquidity requirements. Prior to the change, the company had been listed on
the NASDAQ National Market.
Beginning July 3, NASDAQ-listed companies are classified under three
listing tiers-NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ
Capital Market. NASDAQ also plans to launch indexes based on these new tiers.
"Northwest Savings Bank is an example of an industry leader that has
achieved superior listing standards, which clearly defines the essence of the
NASDAQ Global Select Market," said Bruce Aust, Executive Vice President,
Corporate Client Group. "NASDAQ is focused on leading a race to the top in
terms of listing qualifications. In recognizing these companies, we are
highlighting their achievement in meeting the requirements to be included in
the market with the highest listing standards in the world," added Mr. Aust.
NASDAQ announced the new three tier listing classification in February
2006. All three market tiers will maintain rigorous listing and corporate
governance standards. For additional information about the NASDAQ Global
Select Market, please go to: www.nasdaq.com/GlobalSelect.
Northwest Bancorp Inc. is the parent company of Northwest Savings Bank,
which holds $6.5 billion in assets and operates 155 banking locations in
Pennsylvania, New York, Ohio, Maryland, and Florida.
NASDAQ is the largest U.S. electronic stock market. With approximately
3,200 companies, it lists more companies and, on average, trades more shares
per day than any other U.S. market. It is home to companies that are leaders
across all areas of business including technology, retail, communications,
financial services, transportation, media and biotechnology. NASDAQ is the
primary market for trading NASDAQ-listed stocks. For more information about
NASDAQ, visit www.nasdaq.com or the NASDAQ Newsroom at
http://www.nasdaq.com/newsroom/.
SOURCE Northwest Bancorp, Inc.