Financial Performance - Northwest Bancshares, Inc. reported a net income of $46 million for Q4 2025, or $0.31 per diluted share, representing a 39.4% increase from $33 million, or $0.26 per diluted share in Q4 2024[2]. - Adjusted net income for Q4 2025 was $49 million, or $0.33 per diluted share, up from $41 million, or $0.29 per diluted share in the prior quarter, driven by a $6 million increase in net interest income and a $6 million increase in noninterest income[3]. - The company achieved record total revenue of $180 million in Q4 2025, reflecting a 17% growth compared to the same quarter last year[2]. - Net income for Q4 2025 was $45.713 million, significantly higher than $32.750 million in Q4 2024, marking an increase of 39.5%[28]. - Basic earnings per share for Q4 2025 were $0.31, compared to $0.26 in Q4 2024, showing a 19.2% increase[28]. - The annualized return on average equity for Q4 2025 was 9.70%, up from 8.20% in Q4 2024[28]. - The company reported an adjusted net income of $48.708 million for Q4 2025, compared to $34.802 million in Q4 2024, representing a 39.9% increase[34]. Revenue and Income Sources - Total interest income for Q4 2025 reached $202.825 million, up from $170.722 million in Q4 2024, representing an 18.8% year-over-year increase[28]. - Net interest income after provision for credit losses for Q4 2025 was $134.442 million, compared to $97.632 million in Q4 2024, reflecting a 37.6% increase[28]. - Noninterest income for Q4 2025 totaled $37.8 million, a 17.3% increase from $32.2 million in Q3 2025, driven by higher income from bank-owned life insurance[15]. - Noninterest income for Q4 2025 totaled $37.777 million, an increase from $40.063 million in Q4 2024, indicating a decrease of 5.7% year-over-year[28]. Asset and Loan Growth - Average loans receivable increased to $12.98 billion in Q4 2025, a 15.9% increase from $11.20 billion in Q4 2024, primarily due to the acquisition of Penns Woods Bancorp[6]. - Total loans receivable reached $13.01 billion, a slight increase from $12.94 billion in the previous quarter and a significant increase from $11.18 billion year-over-year[26]. - Total assets increased to $16.77 billion as of December 31, 2025, up from $14.41 billion a year earlier, representing a growth of 16.4%[26]. - Total loans reached $13.007 billion as of December 31, 2025, up from $12.940 billion in the previous quarter, representing a quarterly growth of 0.5%[54]. Credit Quality and Provisions - The total provision for credit losses decreased to $7.7 million in Q4 2025, down 75.2% from $31 million in Q3 2025, indicating improved credit quality[9]. - The allowance for credit losses was $150.21 million, compared to $116.82 million a year ago, indicating a rise in provisions for potential loan defaults[26]. - Provision for credit losses on loans for Q4 2025 was $5.743 million, a significant increase from $15.549 million in Q4 2024[28]. - Nonperforming loans to total loans ratio improved to 0.83% from 1.00% in the previous quarter, indicating a decrease in nonperforming loans[51]. - The allowance for credit losses to total loans ratio was 1.15% as of December 31, 2025, compared to 1.04% a year earlier, showing a slight increase in reserves[51]. Expenses and Efficiency - Total noninterest expense for Q4 2025 was $113.521 million, compared to $95.326 million in Q4 2024, reflecting an increase of 19.1%[28]. - Personnel expenses rose to $65.1 million in Q4 2025, a 22.5% increase from $53.2 million in Q4 2024, largely due to the integration of Penns Woods employees[16]. - The efficiency ratio for Q4 2025 improved to 63.09% from 61.80% in Q4 2024[28]. - The efficiency ratio, excluding loss on sale of investments, was 59.52% for the quarter ended December 31, 2025, showing a slight improvement from 59.62% in the previous quarter[38]. Dividends and Shareholder Equity - The company declared a quarterly cash dividend of $0.20 per share, marking the 125th consecutive quarter of dividend payments, with an annualized yield of approximately 6.7%[4]. - Total shareholders' equity increased to $1,890,424 thousand as of December 31, 2025, up from $1,855,736 thousand in the previous quarter and $1,596,856 thousand year-over-year[35]. - Book value per share increased to $12.94, compared to $12.52 a year earlier, indicating a growth of 3.4%[26]. Market and Operational Metrics - The company reported a total of 161 banking offices, maintaining the same number as the previous quarter and an increase from 141 offices a year ago[26]. - Full-time equivalent employees numbered 2,169, a decrease from 2,190 in the previous quarter but an increase from 1,956 a year ago[26]. - The closing market price per share was $12.00, down from $13.19 a year earlier, reflecting a decline of 9.0%[26]. Future Outlook - The company anticipates continued revenue growth in 2026 as it expands its consumer franchise in Columbus and deepens relationships in existing markets[5].

Core Insights - Northwest Bancshares, Inc. reported a net income of $46 million for Q4 2025, a significant increase from $33 million in the same quarter last year, and $3 million in the prior quarter [1][2] - The company achieved record total revenue of $180 million for the quarter, reflecting a 17% growth year-over-year [1] - Adjusted net income for the same quarter was $49 million, or $0.33 per diluted share, up from $41 million, or $0.29 per diluted share in the prior quarter [2] Financial Performance - The net interest margin expanded to 3.69%, driven by solid performance and an increase in net interest income [1][6] - Year-to-date earnings per share (EPS) reached $0.92, marking a 16% growth from the previous year [1] - The annualized return on average shareholders' equity for Q4 2025 was 9.70%, compared to 8.20% for the same quarter last year [1][23] Revenue and Income Breakdown - Total interest income for Q4 2025 was $202.8 million, an increase of 4.2% from the previous quarter and 18.8% from the same quarter last year [6][22] - Noninterest income totaled $37.8 million, a 17.3% increase from the previous quarter, primarily due to higher income from bank-owned life insurance [12][22] - The provision for credit losses decreased significantly to $7.7 million, down 75.2% from the prior quarter [9][22] Balance Sheet Highlights - Average loans receivable increased to approximately $12.98 billion, a 3.3% increase from the previous quarter and a 15.9% increase year-over-year [5][7] - Average deposits grew to $13.77 billion, reflecting a 3.6% increase from the previous quarter and a 14.5% increase from the same quarter last year [5][7] - Total assets reached $16.77 billion, up from $16.38 billion in the prior quarter [20][21] Strategic Initiatives - The company completed the acquisition of Penns Woods Bancorp, which contributed to the growth in loans and deposits [2][4] - The CEO expressed optimism for 2026, anticipating continued revenue growth and expansion in consumer and commercial markets [4][17]

Core Insights - The company is focused on sustainable, responsible, and profitable growth following a significant merger, which has enhanced its balance sheet scale with total assets of $16.4 billion, deposits of $13.7 billion, and loans of $12.9 billion [1][4][12] - The company plans to open three new financial centers in the high-growth Columbus market and has already seen positive performance from its recently opened center in Fishers, Indiana [2][29] - The merger with Penns Woods has been successfully integrated, with expected deal synergies and cost savings on target or better than anticipated [4][12] Financial Performance - The company reported a record revenue of $168 million for the third quarter, reflecting over 20% year-over-year growth [5][11] - Net interest margin improved by 9 basis points quarter-over-quarter to 3.65%, benefiting from higher average loan yields and purchase accounting accretion [5][10][16] - Adjusted EPS increased by 21% year-over-year, with GAAP EPS up 15% for the nine months ended September 30, 2025 [6][10] Credit Quality - The company has effectively managed its criticized and classified loans, with a decrease of $74 million in legacy classified loans this quarter [7][23] - The annualized net charge-offs were 29 basis points for the quarter, in line with expectations, and the allowance coverage ratio increased to 1.22% [22][23] - There was a slight increase in 30-day plus loan delinquencies, primarily due to administrative issues from the merger, which are expected to decline over time [22][44] Strategic Initiatives - The company is actively recruiting talent for its new de novo branches and has already begun building teams to support local deposit gathering and customer acquisition [2][29] - The focus remains on managing expenses while investing in growth, with an adjusted efficiency ratio of 59.6%, an improvement from the previous year [21][35] - The company is confident in maintaining its net interest margin and expects to achieve full cost savings from the merger by the second quarter of 2026 [25][26] Market Position and Outlook - The company has a strong capital position with a CET1 ratio of 12.3%, significantly above regulatory requirements, allowing for flexibility in future growth opportunities [13][38] - The company anticipates loan growth to align with GDP growth in 2026, supported by a robust pipeline in various national verticals [27][31][57] - The overall deposit mix remains stable, with a cost of deposits at 1.55%, and the company is well-positioned to manage future rate changes [15][55]

Core Viewpoint - Northwest Bancshares (NWBI) is expected to report quarterly earnings of $0.31 per share, reflecting a year-over-year increase of 14.8%, with revenues projected at $174.13 million, up 12.9% from the previous year [1]. Earnings Projections - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating stability in analysts' forecasts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Key Metrics Analysis - The 'Efficiency Ratio' is expected to be 59.4%, an improvement from 61.8% reported in the same quarter last year [5]. - The 'Net Interest Margin' is projected to reach 3.6%, compared to 3.4% in the previous year [5]. - The 'Average Balance - Total Interest-Earning Assets' is anticipated to be $15.33 billion, up from $13.39 billion reported last year [6]. - The consensus estimate for 'Total Noninterest Income/(Loss)' is $32.83 million, down from $40.06 million in the same quarter last year [6]. - 'Net Interest Income (FTE)' is estimated at $140.50 million, compared to $115.05 million reported in the same quarter last year [7]. Stock Performance - Northwest Bancshares shares have experienced a change of -0.2% over the past month, slightly better than the Zacks S&P 500 composite's -0.4% movement [7].

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Group 1 - Northwest Bancshares, Inc. will host a conference call to review fourth quarter 2025 financial results on January 27, 2026, at 9:00 a.m. (EST) [1] - Financial results and supporting data will be released after market close on January 26, 2026 [1] - A live audio webcast of the call and presentation slides will be available on the company's Investor Relations website [2] Group 2 - The Northwest 2026 Annual Meeting of Shareholders is anticipated to be held on May 20, 2026, with further details to be provided in the proxy statement [4] - The company operates 151 full-service financial centers and eleven free-standing drive-up facilities across Pennsylvania, New York, Ohio, and Indiana [5] - Northwest Bancshares, Inc. is listed on the NASDAQ Global Select Market under the ticker "NWBI" [5]

Acquisition Impact - The acquisition of Penns Woods added $2.2 billion in total assets, including $1.8 billion in loans and $160 million in investments[150]. - Total assets increased to $16.4 billion as of September 30, 2025, up $2.0 billion from December 31, 2024, primarily due to the Penns Woods acquisition[152]. - Gross loans receivable rose to $12.9 billion, an increase of $1.8 billion attributed to the Penns Woods acquisition[154]. - Total deposits increased by $1.6 billion to $13.7 billion as of September 30, 2025, driven by the acquisition[156]. - The company recorded preliminary goodwill of $57 million and core deposit intangibles of $48 million related to the acquisition[151]. - Average loans receivable increased by $1.3 billion, or 12%, from the quarter ended September 30, 2024, primarily due to the Penns Woods acquisition[195]. - Average deposits grew by 10% from the quarter ended September 30, 2024, driven by the Penns Woods merger[197]. - Average borrowings increased by 57% compared to the quarter ended September 30, 2024, due to the acquisition of long-term borrowings from Penns Woods[198]. - The provision for credit losses increased by $26 million from the quarter ended September 30, 2024, primarily due to the initial Day 1 provision from the Penns Woods acquisition of $20.6 million[217]. - Noninterest expense increased by $43 million, or 47%, from the quarter ended September 30, 2024, primarily due to merger and restructuring expenses related to the Penns Woods acquisition[228]. Financial Performance - Net income for the quarter ended September 30, 2025, was $3 million, a decrease of $31 million, or 91%, from $34 million for the same quarter in 2024[188]. - Net interest income for the third quarter of 2025 was $136 million, an increase of $25 million, or 22%, from the third quarter of 2024[192]. - Noninterest income for the quarter ended September 30, 2025 was $32 million, an increase of $4 million from the same quarter in 2024, driven by gains on equity method investments[224]. - The net interest income (GAAP) for the quarter ended September 30, 2025 was $135.974 million, compared to $111.302 million for the same quarter in 2024[234]. - The projected percentage decrease in net income due to a 300 bps increase in interest rates is estimated at 11.4%[241]. Asset and Liability Management - Total liabilities increased to $14,133,045, up from $12,778,772, marking a growth of 10.6% year-over-year[202]. - Total classified loans rose by $255 million to $527 million at September 30, 2025, driven by changes in the commercial real estate portfolio and the Penns Woods acquisition[184]. - Classified loans increased to $527 million, or 4.07% of total loans, at September 30, 2025, up from $320 million, or 2.83% of total loans, at September 30, 2024[219]. - Nonaccrual loans increased by $67 million, or 109%, to $128 million at September 30, 2025, representing 0.99% of total loans receivable[185]. - The allowance for credit losses (ACL) increased by $41 million to $157 million, representing 1.22% of total loans as of September 30, 2025, up from 1.04% at December 31, 2024[183]. Capital and Equity - Total shareholders' equity increased to $1.9 billion, or $12.70 per share, as of September 30, 2025, up from $12.52 per share at December 31, 2024, primarily due to a $259 million increase from common stock issuance related to the Penns Woods acquisition[161]. - The total capital to risk-weighted assets ratio for Northwest Bancshares, Inc. was 15.45% as of September 30, 2025, exceeding the minimum requirement of 10.50%[165]. - Tier 1 capital to risk-weighted assets ratio for Northwest Bancshares, Inc. was 12.22% as of September 30, 2025, above the minimum requirement of 8.50%[165]. Liquidity and Deposits - The liquidity ratio at Northwest Bank was 12.95% as of September 30, 2025, indicating a strong liquidity position[170]. - Cash dividends paid during the quarter ended September 30, 2025, totaled $29 million, compared to $25 million for the quarter ended June 30, 2024, with a dividend payout ratio of 1000.0%[171]. - As of September 30, 2025, brokered deposits were $115 million, making up 4% of time deposits and 1% of total deposits[157]. - Uninsured deposits totaled $3.75 million, representing 27.4% of total deposits as of September 30, 2025[159]. - The average uninsured deposit account balance was $323,353 as of September 30, 2025[160]. Interest Income and Margin - Interest income on investment securities increased by $2 million, or 19%, from the quarter ended September 30, 2024[196]. - The net interest margin (FTE) was 3.65% for the quarter ended September 30, 2025, reflecting an increase of thirty-two basis points compared to the same quarter of the prior year[192]. - The average yield on interest-earning assets improved to 5.22%, up from 5.11% year-over-year[202]. - The average cost of interest-bearing liabilities decreased to 2.13%, down from 2.39% in the same quarter last year[202]. - Net interest margin (FTE) improved to 3.65%, compared to 3.33% in the previous year[202]. Risk Management - The company aims to limit exposure to interest rate risk by increasing core deposits and emphasizing short-term fixed-rate loans[235].

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