Pope Francis waves to the crowd from the central balcony of St. Peter's Basilica at the Vatican, Wednesday, March 13, 2013. Cardinal Jorge Bergoglio who chose the name of Francis, is the 266th pontiff of the Roman Catholic Church. (AP Photo/Luca Bruno)

Argentine Jorge Bergoglio has been elected pope, the first ever from the Americas and the first from outside Europe in more than a millennium. He chose the name Pope Francis.

After announcing `'Habemus Papum" -- `'We have a pope!" -- a cardinal standing on the balcony of St. Peter's Basilica on Wednesday revealed the identity of the new pontiff, using his Latin name. Bergoglio had reportedly finished second in the 2005 conclave that produced Benedict XVI -- who last month became the first pope to resign in 600 years.

The 76-year-old archbishop of Buenos Aires has spent nearly his entire career at home in Argentina, overseeing churches and shoe-leather priests.

Locally, Bishop Micheal Sheridan of the Diocese of Colorado Springs issued the following statement upon learning of Cardinal Jorge Bergoglio's appointment as Pope.

“It was with great joy that I learned that Cardinal Jorge Bergoglio of Argentina was elected to be the successor of Peter, taking the name of Pope Francis. The fact that our new pontiff is both the first Jesuit and first Latin American to be elected pope makes the news particularly exciting. Cardinal Bergoglio is known for his humility, simplicity, and as a respected theologian. I am fully confident that the Holy Spirit was at work during the conclave, and I look forward to our new Holy Father’s leadership and guidance for years to come.”

The former Cardinal Bergoglio was born Dec. 17, 1936 in Buenos Aires and was ordained to the priesthood in the Society of Jesus on Dec. 13, 1969. He was ordained a bishop on June 3, 1997 and was named a cardinal by Pope John Paul II on Feb. 21, 2001.