Urich T. Bowers
Northwest BancsharesAbout Urich T. Bowers
Urich T. Bowers is Chief Consumer Banking and Strategy Officer at Northwest Bancshares, Inc. (NWBI), appointed June 18, 2024, and oversees the Consumer Bank division including ~1,100 employees and 131 financial centers across PA, NY, OH, and IN. He brings nearly 25 years in banking, most recently Head of Consumer Products, Strategy and Innovation at PNC, where he oversaw >$200B in consumer deposits and holds patents for PNC’s Low Cash Mode digital experience; he earned both his bachelor’s and MBA from the University of Pittsburgh . Company performance context for 2024 (Bowers’ initial tenure year): reported net income of $100.3M; adjusted net income of $132.8M; adjusted ROAE 8.49%; adjusted ROAA 0.92%; deposits +1.4% to $12.14B; commercial loans grew to $2.0B (+$350M); cumulative TSR value $108.85; ROAA (GAAP) 0.70% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PNC Financial Services Group | Head of Consumer Products, Strategy & Innovation | 2022–2024 | Led consumer checking/savings/time deposits and digital experiences across a portfolio with >$200B in deposits; innovated Low Cash Mode with several patents . |
| PNC Financial Services Group | Head of Retail Savings, Liquidity & Fee Businesses | Not disclosed | Advanced deposit product strategy and pricing discipline . |
| PNC Financial Services Group | CFO — Retail Banking | Not disclosed | Financial stewardship over retail banking P&L and strategic initiatives . |
| PNC Financial Services Group | CFO — Asset Management Group | Not disclosed | Oversight of AMG financial planning and reporting . |
| PNC Financial Services Group | SVP, Competitive Analysis & Planning | Not disclosed | Performance measurement, strategic planning, corporate marketing, e-commerce/affinity businesses . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PNC Financial Services Group | Patent holder for Low Cash Mode® product | Not disclosed | Consumer fintech innovation to manage cash shortfalls and avoid overdraft fees . |
Fixed Compensation
- No individual base salary, target bonus, or award disclosures for Bowers in NWBI’s 2025 proxy or related 8‑K filings; he is not listed among NEOs and no separate compensatory arrangement was disclosed in the appointment 8‑K .
Performance Compensation
- Company executive incentive architecture (context for senior executives, including Bowers): Management Bonus Plan funded on corporate metrics and individual performance; 2024 initial funding 92.47% of target but approved at 100% based on overall performance, with individual multipliers applied to NEOs; threshold conditions (net charge-offs ≤0.50%, total delinquency ≤3.00%) .
| Metric | Weighting | Threshold (50% funded) | Target (100%) | Maximum (150%) | Actual (Adj.) | % of Target | Weighted % Payout |
|---|---|---|---|---|---|---|---|
| Adjusted ROAA | 40% | 0.74% | 0.87% | 1.10% | 0.92% | 110.90% | 44.36% |
| Adjusted ROAE | 30% | 6.97% | 8.20% | 10.66% | 8.49% | 105.90% | 31.77% |
| Efficiency Ratio (non‑GAAP) | 15% | 67.50% | 65.00% | 60.00% | 64.11% | 108.90% | 16.34% |
| Loan Growth | 15% | 3.23% | 4.62% | 6.00% | (1.39%) | — | — |
- Long-term incentives: PSUs and RSUs; 2024 design for executives is 50/50 PSUs/RSUs (CEO at 55/45). RSUs vest in equal installments over 3 years; PSUs vest after a 3-year performance period based on relative Core ROAA versus the KRX peer index (25th/50th/75th percentile → 50%/100%/150% payout) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (shares) | Not disclosed; Bowers not listed in the Feb 18, 2025 beneficial ownership table . |
| Shares pledged as collateral | None for Directors and Executive Officers as of Feb 18, 2025; pledging prohibited by policy . |
| Hedging policy | Hedging of Company stock prohibited; insider trading policy in place . |
| Stock ownership guidelines | Apply to NEOs (CEO 3x salary; others 1x) and non‑employee directors; Bowers’ inclusion depends on NEO status (not disclosed) . |
| Clawback policy | Company-wide clawback compliant with SEC/Nasdaq (Rule 10D‑1); applies to incentive comp . |
Employment Terms
- No employment agreement disclosed for Bowers in the 2025 proxy; employment agreements are disclosed for CEO and CFO with severance at 3x salary+bonus and 36 months benefits; change-in-control agreements disclosed for select executives (CRO, CCB, CIO) but not for Bowers .
- Non-compete/insider obligations apply to covered executives under Company agreements and insider trading policies; Company prohibits pledging and hedging for insiders .
Performance & Track Record
- Led consumer products and digital experiences at PNC with oversight of a portfolio exceeding $200B in deposits; inventor/patent holder for Low Cash Mode, a consumer protection and overdraft avoidance experience .
- At NWBI, appointed to drive transformation of retail strategy; oversees Consumer Bank division (~1,100 employees) and multi-state retail footprint (131 financial centers), signaling focus on consumer franchise optimization and innovation .
- 2024 corporate performance highlights: deposits +1.4% to $12.14B, commercial loans +$350M to $2.0B, adjusted ROAA 0.92%, adjusted ROAE 8.49%; one of the lowest uninsured deposit bases in the nation (<25%; 12% ex intercompany/collateralized) .
Compensation Peer Group (Company context)
- Peer benchmarking performed with Pearl Meyer and McLagan; peer selection targets banks 50%–200% of NWBI asset size; peers include AUB, FFBC, FRME, CBU, HTLF, WSBC, NBTB, WSFS, PRK, FCF, STBA, EFSC, BUSE, TOWN, TFSL .
- Compensation philosophy targets competitive positioning near market median and emphasizes variable, performance-based pay and long-term shareholder alignment .
Say‑on‑Pay & Shareholder Feedback (Company context)
- 2024 Say‑on‑Pay approval exceeded 96%; Company conducts annual Say‑on‑Pay going forward .
Investment Implications
- Alignment: Insider no‑pledging/hedging and clawback policy reduce misalignment risk; PSU design (relative Core ROAA vs KRX) ties long-term equity to bank performance and efficiency .
- Retention: No public employment agreement disclosures for Bowers; however, Company has established executive agreements for key roles and annual equity programs (RSUs/PSUs), suggesting standard retention levers across senior leadership even if Bowers’ specific terms are undisclosed .
- Trading signals: Lack of disclosed beneficial ownership and award grants for Bowers limits assessment of near‑term insider selling pressure; Company-wide prohibition on hedging/pledging reduces forced‑sale risk signals .
- Execution risk: Bowers’ mandate centers on consumer franchise strategy and innovation; watch subsequent proxies/8‑Ks for his compensation terms, award grants, and bonus metrics visibility. Monitor deposit mix, cost of funds, consumer loan growth re‑acceleration, and efficiency ratio trends as key performance levers tied to incentive funding .