Erie, Pa., Bank Buys Benefits Agency

By Staff Writer

June 25, 2002 at 08:00 PM

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NU Online News Service, June 25, 9:35 a.m. – Northwest Savings Bank, Erie, Penn., says it is acquiring an employee benefits consulting company in a deal set to close on June 30.

Northwest announced today it is acquiring all the stock of Boetger & Associates, Inc. in Erie for undisclosed terms.

Gregory C. LaRocca, senior vice president, administration of Northwest, says Boetger will continue to operate independently as a wholly owned subsidiary of the bank and that Don Boetger will continue to serve as its president.

Boetger specializes in designing, implementing and administering qualified retirement plans. Its staff includes three fully certified ERISA actuaries, 10 pension consultants and analysts and a support staff. The firm employs 23 full-time and three part-time staff members, all of whom will remain employees of Boetger.

In addition to Erie, Boetger has an office in Wexford, Penn.

Northwest operates 120 community banking locations in 34 counties in Pennsylvania and Ohio. Its parent company, Northwest Bancorp, Inc, holds assets of $4.2 million.

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