---
title: "Northwest Bancshares, Inc. Announces Record Second Quarter 2026 GAAP net income of $54 million, or $0.36 per diluted share | NWBI Stock News"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293970566.md"
description: "Northwest Bancshares reported record Q2 2026 GAAP net income of $54 million ($0.36 diluted EPS), up from $34 million a year ago. Adjusted EPS was $0.37. The company declared a $0.20 quarterly dividend, marking the 127th consecutive quarter. Net interest margin expanded to 3.75%, with strong credit quality and loan growth driven by the Penns Woods acquisition."
datetime: "2026-07-27T12:05:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293970566.md)
  - [en](https://longbridge.com/en/news/293970566.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293970566.md)
---

# Northwest Bancshares, Inc. Announces Record Second Quarter 2026 GAAP net income of $54 million, or $0.36 per diluted share | NWBI Stock News

**Adjusted diluted EPS (non-GAAP) of $0.37 per share**

**Net interest margin continues to expand to 3.75%**

**5.3% annualized loan growth from prior quarter**

**Credit quality remained strong with annualized net charge-offs of 0.15% and nonperforming assets of 0.69%**

, /PRNewswire/ -- Northwest Bancshares, Inc., (the "Company"), (Nasdaq: NWBI) announced record net income for the quarter ended June 30, 2026 of $54 million, or $0.36 per diluted share. This represents an increase of $20 million compared to the same quarter last year, when net income was $34 million, or $0.26 per diluted share, and an increase of $3 million compared to the prior quarter, when net income was $51 million, or $0.34 per share. The annualized returns on average shareholders' equity and average assets for the quarter ended June 30, 2026 were 11.20% and 1.27% compared to 8.26% and 0.93% for the same quarter last year and 10.86% and 1.22% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended June 30, 2026 was $54 million, or $0.37, per diluted share, which increased by $3 million from $51 million, or $0.35, per diluted share, in the prior quarter. This increase was primarily driven by an increase in net interest income of $4 million and an increase in noninterest income of $2 million which were partially offset by an increase in provision for credit losses expense of $2 million. The adjusted annualized returns on average shareholders' equity (non-GAAP) and average assets (non-GAAP) for the quarter ended June 30, 2026 were 11.26% and 1.28% compared to 10.95% and 1.23% for the prior quarter.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share payable on August 18, 2026 to shareholders of record as of August 6, 2026. This is the 127th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company's common stock as of June 30, 2026, this represents an annualized dividend yield of approximately 5.3%.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, "I am pleased to report a strong second quarter performance, with Northwest delivering another quarter of record net income, more than 59% year-over-year growth, supported by a balanced and consistent performance across the whole bank. We drove 32% year-over-year average loan growth in our C&I business, with disciplined growth in our national specialty business verticals, and benefited from the strength of our retail deposit franchise, achieving our fourth consecutive quarter of lower deposit costs, one of the best-in-class among our peers.

We produced these results while continuing to invest in talent, technology, and new financial centers, and maintaining expense management discipline, driving another quarter of improved performance with our efficiency ratio at 57.6% and our adjusted efficiency ratio at 56.2% for the quarter.

Building on our strong first half performance, and our team already making an impact in the Columbus market, attracting new talent, customers, and deposits, we continue to focus on organic growth initiatives, further optimizing our financial performance, expanding our financial center network, and serving our core customers and communities."

**Balance Sheet Highlights**

_Dollars in thousands_

  

  

  

  

  

  

**Change 2Q26 vs.**

  

**2Q26**

  

**1Q26**

  

**2Q25**

  

**1Q26**

  

**2Q25**

Average loans receivable

$ 13,094,235

  

13,083,837

  

11,248,954

  

0.1 %

  

16.4 %

Average investments

2,531,603

  

2,466,992

  

2,056,476

  

2.6 %

  

23.1 %

Average deposits

14,133,825

  

14,046,735

  

12,154,001

  

0.6 %

  

16.3 %

Average borrowed funds

379,262

  

404,547

  

208,342

  

(6.3) %

  

82.0 %

-   Average loans receivable increased $1.8 billion from the quarter ended June 30, 2025, primarily driven by the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition. Compared to the quarter ended March 31, 2026, average loans receivable increased $10 million driven by growth in our commercial and industrial and consumer loan portfolios.
-   Average investments grew $475 million from the quarter ended June 30, 2025 and $65 million from the quarter ended March 31, 2026. The growth in average investments was primarily due to the Penns Woods acquisition and a targeted increase in the overall securities portfolio.
-   Average deposits grew $2.0 billion from the quarter ended June 30, 2025 primarily driven by an increase in interest-bearing account balances primarily due to the addition of the Penns Woods deposit accounts. Average deposits grew $87 million from the quarter ended March 31, 2026 primarily driven by increase in savings and money market account balances partly due to customers shifting funds to these products as their time deposits matured.
-   Average borrowings increased $171 million compared to the quarter end June 30, 2025 due to the acquisition of long term borrowings from Penns Woods. Average borrowings decreased $25 million compared to the quarter ended March 31, 2026. The decrease in average borrowings is attributable to the reduction of short term borrowings needs primarily due to growth in average deposits exceeding average loan and securities growth.

**Income Statement Highlights**

_Dollars in thousands_

  

  

  

  

  

**Change 2Q26 vs.**

  

**2Q26**

  

**1Q26**

  

**2Q25**

  

**1Q26**

  

**2Q25**

Interest income

$ 205,140

  

201,550

  

171,570

  

1.8 %

  

19.6 %

Interest expense

58,202

  

59,068

  

52,126

  

(1.5) %

  

11.7 %

Net interest income

$ 146,938

  

142,482

  

119,444

  

3.1 %

  

23.0 %

  

  

  

  

  

  

  

  

  

  

Net interest margin FTE

3.75 %

  

3.70 %

  

3.56 %

  

  

  

  

Compared to the quarter ended June 30, 2025, net interest income increased $27 million and net interest margin increased to 3.75% from 3.56% for the quarter ended June 30, 2025. This increase in net interest income resulted primarily from:

-   A $34 million increase in interest income that was the result of higher average yields coupled with an increase in average earning assets. The increase in average earnings assets was driven by the Penns Woods acquisition during the third quarter 2025. The average yield on loans increased to 5.61% for the quarter ended June 30, 2026 from 5.55% for the quarter ended June 30, 2025. The increase in yield was driven by loan mix shift towards higher yielding commercial loans, partially offset by the impact of fourth quarter 2025 rate cuts.
-   A $6 million increase in interest expense is the result of an increase in the average balance of interest-bearing liabilities partially offset by a decline in the cost of deposits. The cost of interest-bearing liabilities decreased to 2.00% for the quarter ended June 30, 2026 from 2.09% for the quarter ended June 30, 2025.

Compared to the quarter ended March 31, 2026, net interest income increased $4 million and net interest margin increased to 3.75% for the quarter ended June 30, 2026 from 3.70%. This increase in net interest income resulted from the following:

-   A $4 million increase in interest income driven by growth in the average interest earning balances and an increase on investments yields compared to the prior quarter which was partially offset by a decrease in loan yields. The average yield on loans decreased 1 bps to 5.61% and average investment yields increased to 3.27% from 3.17% for the quarter ended March 31, 2026. The decrease in loan yields was driven by a decline in the accretion of loan fair value marks, based on timing of loan payoffs, coupled with a change in portfolio mix.
-   A $1 million decrease in interest expense driven by lower interest expense on deposits. Average cost of interest-bearing deposits declined compared to the prior quarter to 1.83% from 1.89% for the quarter ended March 31, 2026 while average cost of borrowings increased to 3.96% from 3.88% for the quarter ended March 31, 2026.

_Dollars in thousands_

  

  

  

  

  

  

**Change 2Q26 vs.**

  

**2Q26**

  

**1Q26**

  

**2Q25**

  

**1Q26**

  

**2Q25**

Provision for credit losses - loans

$ 4,280

  

4,954

  

11,456

  

(13.6) %

  

(62.6) %

Provision for credit losses - unfunded commitments

2,357

  

(585)

  

(2,712)

  

(502.9) %

  

(186.9) %

Total provision for credit losses expense

$ 6,637

  

4,369

  

8,744

  

51.9 %

  

(24.1) %

The total provision for credit losses for the quarter ended June 30, 2026 was $7 million primarily driven by growth in our commercial lending portfolio, including unfunded commitments. Total provision for credit losses for the quarter ended March 31, 2026 was $4 million driven by growth in our commercial lending portfolio and increased uncertainty in the economic outlook.

The Company saw an increase in classified loans to $524 million, or 3.96% of total loans, at June 30, 2026 from $518 million, or 4.57% of total loans, at June 30, 2025 and $498 million, or 3.81% of total loans, at March 31, 2026. The increase from the prior quarter was driven by changes in our commercial real estate portfolio which increased $29 million. The increase from the prior year was primarily due to classified loans acquired in the Penns Woods acquisition.

_Dollars in thousands_

  

  

  

  

  

**Change 2Q26 vs.**

  

**2Q26**

  

**1Q26**

  

**2Q25**

  

**1Q26**

  

**2Q25**

Noninterest income:

  

  

  

  

  

  

  

  

  

Gain on sale of investments

$ 336

  

11

  

—

  

2954.5 %

  

NA

Gain on sale of SBA loans

1,217

  

1,186

  

819

  

2.6 %

  

48.6 %

Service charges and fees

16,908

  

17,118

  

15,797

  

(1.2) %

  

7.0 %

Trust and other financial services income

9,449

  

8,618

  

7,948

  

9.6 %

  

18.9 %

Gain on real estate owned, net

20

  

70

  

258

  

(71.4) %

  

(92.2) %

Income from bank-owned life insurance

2,013

  

2,042

  

1,421

  

(1.4) %

  

41.7 %

Mortgage banking income

738

  

329

  

1,075

  

124.3 %

  

(31.3) %

Other operating income

3,548

  

3,208

  

3,620

  

10.6 %

  

(2.0) %

Total noninterest income

$ 34,229

  

32,582

  

30,938

  

5.1 %

  

10.6 %

Noninterest income increased $3 million from the quarter ended June 30, 2025 driven by an increase in service charges and fees driven by deposit related fees based on customer activity related to the Penns Woods acquisition and trust and other financial services income due to growth in our wealth management business. Noninterest income increased by $2 million from the quarter ended March 31, 2026, also due to an increase in trust and other financial services income due to growth in our wealth management business.

_Dollars in thousands_

  

  

  

  

  

**Change 2Q26 vs.**

  

**2Q26**

  

**1Q26**

  

**2Q25**

  

**1Q26**

  

**2Q25**

Noninterest expense:

  

  

  

  

  

  

  

  

  

Personnel expense

$ 63,476

  

58,330

  

55,213

  

8.8 %

  

15.0 %

Non-personnel expense

40,807

  

45,708

  

42,327

  

(10.7) %

  

(3.6) %

Total noninterest expense

$ 104,283

  

104,038

  

97,540

  

0.2 %

  

6.9 %

Noninterest expense increased from the quarter ended June 30, 2025 due to a $8 million increase in personnel expenses driven by an increase in core compensation and benefits expense due to the addition of Penns Woods employees. Additionally, non-personnel expense decreased by $2 million due to a $6 million decrease in merger, asset disposition and restructuring expense coupled with a $3 million decrease in federal deposit insurance (FDIC) premium expense. The decrease in FDIC premiums expense related to prior period assessment rate changes. These decreases were partially offset by an increase of $2 million in amortization of intangible expense related to the acquisition coupled with increases in operating and processing expenses due to the addition of the Penns Woods branches to our footprint.

Noninterest expense remained flat from the quarter ended March 31, 2026 due to an increase in personnel expense which was offset by a decrease in non-personnel expenses. Personnel expense increased $5 million driven by higher base salaries, reflecting annual merit increases and one additional business day, and higher incentive compensation expenses. Non-personnel expense decreased by $5 million due to an decrease of $3 million in FDIC insurance premiums in the quarter ended June 30, 2026 for the same reasons discussed above coupled with a $1 million decrease in premises and occupancy expenses based on seasonal operating expenses during the first quarter.

_Dollars in thousands_

  

  

  

  

  

**Change 2Q26 vs.**

  

**2Q26**

  

**1Q26**

  

**2Q25**

  

**1Q26**

  

**2Q25**

Income before income taxes

$ 70,247

  

66,657

  

44,098

  

5.4 %

  

59.3 %

Income tax expense

16,701

  

16,121

  

10,423

  

3.6 %

  

60.2 %

Net income

$ 53,546

  

50,536

  

33,675

  

6.0 %

  

59.0 %

The provision for income taxes increased by $6 million from the quarter ended June 30, 2025 and $1 million for the quarter ended March 31, 2026 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended June 30, 2025 and the quarter ended March 31, 2026 due to the factors discussed above.

Headquartered in Columbus, Ohio, Northwest Bancshares, Inc. is the bank holding company of Northwest Bank. Founded in 1896 Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, as well as employee benefits and wealth management services. As of June 30, 2026, Northwest operated 151 full-service financial centers and eleven free standing drive-up facilities in Pennsylvania, New York, Ohio and Indiana. Northwest Bancshares, Inc.'s common stock is listed on The Nasdaq Stock Market LLC ("NWBI"). Additional information regarding Northwest Bancshares, Inc. and Northwest Bank can be accessed online at www.northwest.com.

Investor Contact: Michael Perry, Corporate Development & Strategy (814) 726-2140  
Media Contact: Ian Bailey, External Communications (380) 400-2423

\# # #

This release may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words "believe," "anticipate," "estimate," "expect," "project," "target," "goal" and similar expressions are intended to identify forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements include but are not limited to: statements of our goals, intentions and expectations; statements regarding our financial condition and results of operations, including statements related to our earnings outlook; statements regarding our business plans, prospects, growth and operating strategies; statements regarding the quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including but not limited to the following: the possibility that any of the anticipated benefits of the merger with Penns Woods will not be realized or will not be realized within the expected time period; the effect of the merger on the combined company's customer and employee relationships and operating results; and other factors that may affect the results of operations and financial condition of the combined company; inflation and changes in the interest rate environment that reduce our margins, our loan origination, or the fair value of financial instruments; changes in asset quality, including increases in default rates on loans and higher levels of nonperforming loans and loan charge-offs generally; changes in laws, government regulations or supervision, examination and enforcement priorities affecting financial institutions, including as part of the regulatory reform agenda of the Trump administration, as well as changes in regulatory fees and capital requirements; changes in federal, state, or local tax laws and tax rates; general economic conditions, either nationally or in our market areas, that are different than expected, including inflationary or recessionary pressures or those related to changes in monetary, fiscal, regulatory, tariff and international trade policies of the U.S. government, including policies of the U.S. Department of Treasury and Board of Governors of the Federal Reserve System, and any related increases in compliance and other costs; trade disputes, barriers to trade or the emergence of trade restrictions and the resulting impacts on market volatility and global trade; growing fiscal deficits; potential recession or slowing of growth in the U.S., Europe and other regions; developments in the Middle East; adverse changes in the securities and credit markets; instability or breakdown in the financial services sector, including failures or rumors of failures of other depository institutions, along with actions taken by governmental agencies to address such turmoil; cyber-security concerns, including an interruption or breach in the security of our website or other information systems; technological changes that may be more difficult or expensive than expected; changes in liquidity, including the size and composition of our deposit portfolio, and the percentage of uninsured deposits in the portfolio; the ability of third-party providers to perform their obligations to us; competition among depository and other financial institutions, including with respect to deposit gathering, service charges and fees; our ability to enter new markets successfully and capitalize on growth opportunities; our ability to manage our internal growth and our ability to successfully integrate acquired entities, businesses or branch offices; changes in consumer spending, borrowing and savings habits; our ability to continue to increase and manage our commercial and personal loans; possible impairments of securities held by us, including those issued by government entities and government sponsored enterprises; changes in the value of our goodwill or other intangible assets; the impact of the economy on our loan portfolio (including cash flow and collateral values), investment portfolio, customers and capital market activities; our ability to receive regulatory approvals for proposed transactions or new lines of business; the effects of any federal government shutdown or the inability of the federal government to manage debt limits; changes in the financial performance and/or condition of our borrowers; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Securities and Exchange Commission (the "SEC"), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board ("FASB") and other accounting standard setters; changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; the effect of global or national war, conflict, or terrorism; our ability to manage market risk, credit risk and operational risk; the disruption to local, regional, national and global economic activity caused by infectious disease outbreaks, and the significant impact that any such outbreaks may have on our growth, operations and earnings; the effects of natural disasters and extreme weather events; changes in our ability to continue to pay dividends, either at current rates or at all; our ability to retain key employees; and our compensation expense associated with equity allocated or awarded to our employees. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, expected or projected. These and other risk factors are more fully described in this presentation and in the Northwest Bancshares, Inc. (the "Company") Annual Report on Form 10-K for the year ended December 31, 2025 under the section entitled "Item 1A - Risk Factors," and from time to time in other filings made by the Company with the SEC. These forward-looking statements speak only at the date of the presentation. The Company expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Company's expectations with regard to any change in events, conditions or circumstances on which any such statement is based.

Use of Non-GAAP Financial Measures

This release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these "non-GAAP" measures in its analysis of the Company's performance. Management believes these non-GAAP financial measures allow for better comparability of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company's financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. See the pages 9 and 10 of this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures where applicable.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Consolidated Statements of Financial Condition (Unaudited)**

**(dollars in thousands, except per share amounts)**

  

  

**June 30,**  
**2026**

  

**December 31,**  
**2025**

  

**June 30,**  
**2025**

Assets

  

  

  

  

  

Cash and cash equivalents

$ 248,499

  

233,647

  

267,075

Marketable securities available-for-sale (amortized cost of $1,972,165, $1,710,978 and $1,341,651, respectively)

1,829,179

  

1,586,382

  

1,194,883

Marketable securities held-to-maturity (fair value of $550,416, $605,929 and $628,936, respectively)

630,802

  

683,369

  

719,561

Total cash and cash equivalents and marketable securities

2,708,480

  

2,503,398

  

2,181,519

  

  

  

  

  

  

Loans held-for-sale

15,391

  

22,437

  

13,104

Residential mortgage loans

3,001,908

  

3,100,780

  

3,052,126

Home equity loans

1,497,157

  

1,507,532

  

1,157,520

Consumer loans

2,843,058

  

2,563,890

  

2,211,275

Commercial real estate loans

2,988,237

  

3,296,902

  

2,782,404

Commercial and industrial loans

2,898,867

  

2,538,212

  

2,138,499

Total loans receivable

13,229,227

  

13,007,316

  

11,341,824

Allowance for credit losses

(149,321)

  

(150,212)

  

(129,159)

Loans receivable, net

13,079,906

  

12,857,104

  

11,212,665

  

  

  

  

  

  

FHLB stock, at cost

43,345

  

36,628

  

17,809

Accrued interest receivable

57,473

  

56,291

  

46,987

Real estate owned, net

63

  

76

  

48

Premises and equipment, net

144,423

  

140,381

  

123,402

Bank-owned life insurance

293,354

  

294,386

  

255,708

Goodwill

444,997

  

444,330

  

380,997

Other intangible assets, net

35,312

  

39,667

  

1,897

Other assets

384,395

  

371,919

  

250,971

Total assets

$ 17,207,139

  

16,766,617

  

14,485,107

Liabilities and shareholders' equity

  

  

  

  

  

Liabilities

  

  

  

  

  

Noninterest-bearing demand deposits

$ 3,191,560

  

3,123,229

  

2,643,099

Interest-bearing demand deposits

2,916,518

  

2,995,759

  

2,622,695

Money market deposit accounts

2,766,675

  

2,540,818

  

2,153,078

Savings deposits

2,459,255

  

2,366,513

  

2,211,509

Time deposits

2,827,810

  

2,916,698

  

2,570,648

Total deposits

14,161,818

  

13,943,017

  

12,201,029

  

  

  

  

  

  

Borrowed funds

612,075

  

446,283

  

198,008

Subordinated debt

114,800

  

114,800

  

114,713

Junior subordinated debentures

130,223

  

130,093

  

129,964

Advances by borrowers for taxes and insurance

47,400

  

37,309

  

47,865

Accrued interest payable

8,385

  

6,846

  

7,729

Other liabilities

205,031

  

197,845

  

143,731

Total liabilities

15,279,732

  

14,876,193

  

12,843,039

Shareholders' equity

  

  

  

  

  

Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares issued

—

  

—

  

—

Common stock, $0.01 par value: 500,000,000 shares authorized, 146,396,520, 146,107,964 and  
127,842,403 shares issued and outstanding, respectively

1,464

  

1,461

  

1,278

Additional paid-in capital

1,274,117

  

1,270,444

  

1,037,615

Retained earnings

734,423

  

689,210

  

699,049

Accumulated other comprehensive loss

(82,597)

  

(70,691)

  

(95,874)

Total shareholders' equity

1,927,407

  

1,890,424

  

1,642,068

Total liabilities and shareholders' equity

$ 17,207,139

  

16,766,617

  

14,485,107

  

  

  

  

  

  

Equity to assets

11.20 %

  

11.27 %

  

11.34 %

Tangible common equity to tangible assets\*

8.65 %

  

8.64 %

  

8.93 %

Book value per share

$ 13.17

  

12.94

  

12.84

Tangible book value per share\*

$ 9.88

  

9.63

  

9.85

Closing market price per share

$ 15.16

  

12.00

  

12.78

Full time equivalent employees

2,183

  

2,169

  

1,998

Number of banking offices

162

  

161

  

141

\*

Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Consolidated Statements of Income (Unaudited)**

**(dollars in thousands, except per share amounts)**

  

  

**Quarter** **ended**

  

**June 30,  
2026**

  

**March 31,**  
**2026**

  

**December 31,  
2025**

  

**September 30,  
2025**

  

**June 30,  
2025**

  

  

  

  

  

Interest income:

  

  

  

  

  

  

  

  

  

Loans receivable

$ 182,469

  

180,549

  

184,047

  

177,723

  

154,914

Mortgage-backed securities

18,024

  

16,999

  

14,071

  

12,668

  

12,154

Taxable investment securities

1,799

  

1,601

  

1,324

  

1,183

  

999

Tax-free investment securities

674

  

762

  

777

  

752

  

512

FHLB stock dividends

738

  

768

  

701

  

652

  

318

Interest-earning deposits

1,436

  

871

  

1,905

  

1,700

  

2,673

Total interest income

205,140

  

201,550

  

202,825

  

194,678

  

171,570

Interest expense:

  

  

  

  

  

  

  

  

  

Deposits

50,384

  

51,083

  

52,947

  

51,880

  

46,826

Borrowed funds

7,818

  

7,985

  

7,712

  

6,824

  

5,300

Total interest expense

58,202

  

59,068

  

60,659

  

58,704

  

52,126

Net interest income

146,938

  

142,482

  

142,166

  

135,974

  

119,444

Provision for credit losses - loans

4,280

  

4,954

  

5,743

  

31,394

  

11,456

Provision for credit losses - unfunded commitments

2,357

  

(585)

  

1,981

  

(189)

  

(2,712)

Net interest income after provision for credit losses

140,301

  

138,113

  

134,442

  

104,769

  

110,700

Noninterest income:

  

  

  

  

  

  

  

  

  

Gain on sale of investments

336

  

11

  

142

  

36

  

—

Gain on sale of SBA loans

1,217

  

1,186

  

437

  

341

  

819

Service charges and fees

16,908

  

17,118

  

17,377

  

16,911

  

15,797

Trust and other financial services income

9,449

  

8,618

  

8,416

  

8,040

  

7,948

Gain on real estate owned, net

20

  

70

  

148

  

132

  

258

Income from bank-owned life insurance

2,013

  

2,042

  

8,269

  

1,751

  

1,421

Mortgage banking income

738

  

329

  

379

  

1,003

  

1,075

Other operating income

3,548

  

3,208

  

2,609

  

3,984

  

3,620

Total noninterest income

34,229

  

32,582

  

37,777

  

32,198

  

30,938

Noninterest expense:

  

  

  

  

  

  

  

  

  

Compensation and employee benefits

63,476

  

58,330

  

65,143

  

63,014

  

55,213

Premises and occupancy costs

8,494

  

9,863

  

8,170

  

7,707

  

7,122

Office operations

3,660

  

3,875

  

4,217

  

3,495

  

2,910

Collections expense

665

  

878

  

856

  

776

  

838

Processing expenses

16,948

  

16,806

  

16,454

  

15,072

  

12,973

Marketing expenses

2,362

  

1,668

  

1,827

  

1,932

  

3,018

Federal deposit insurance premiums

(291)

  

2,895

  

3,538

  

3,361

  

2,296

Professional services

3,490

  

3,523

  

3,366

  

3,010

  

3,990

Amortization of intangible assets

2,166

  

2,189

  

2,257

  

1,974

  

436

Merger, asset disposition and restructuring expense

426

  

631

  

4,160

  

31,260

  

6,244

Other expenses

2,887

  

3,380

  

3,533

  

1,897

  

2,500

Total noninterest expense

104,283

  

104,038

  

113,521

  

133,498

  

97,540

Income before income taxes

70,247

  

66,657

  

58,698

  

3,469

  

44,098

Income tax expense

16,701

  

16,121

  

12,985

  

302

  

10,423

Net income

$ 53,546

  

50,536

  

45,713

  

3,167

  

33,675

  

  

  

  

  

  

  

  

  

  

Basic earnings per share

$ 0.37

  

0.35

  

0.31

  

0.02

  

0.26

Diluted earnings per share

$ 0.36

  

0.34

  

0.31

  

0.02

  

0.26

  

  

  

  

  

  

  

  

  

  

Weighted average common shares outstanding - diluted

147,127,223

  

146,850,635

  

146,703,966

  

141,175,516

  

128,114,509

  

  

  

  

  

  

  

  

  

  

Annualized return on average equity

11.20 %

  

10.86 %

  

9.70 %

  

0.69 %

  

8.26 %

Annualized return on average assets

1.27 %

  

1.22 %

  

1.10 %

  

0.08 %

  

0.93 %

Annualized return on average tangible common equity\*

14.94 %

  

14.59 %

  

13.10 %

  

0.90 %

  

10.78 %

  

  

  

  

  

  

  

  

  

  

Efficiency ratio

57.56 %

  

59.43 %

  

63.09 %

  

79.38 %

  

64.86 %

Efficiency ratio, excluding certain items\*\*

56.24 %

  

57.82 %

  

59.57 %

  

59.63 %

  

60.42 %

\*

Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

\*\*

Excludes gain on sale of investments, amortization of intangible assets and merger, asset disposition and restructuring expenses (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Consolidated Statements of Income (Unaudited)**

**(dollars in thousands, except per share amounts)**

  

  

**Six months ended June 30,**

  

**2026**

  

**2025**

Interest income:

  

  

  

Loans receivable

$ 363,018

  

319,552

Mortgage-backed securities

35,023

  

23,884

Taxable investment securities

3,400

  

1,932

Tax-free investment securities

1,436

  

1,024

FHLB stock dividends

1,506

  

684

Interest-earning deposits

2,307

  

5,089

Total interest income

406,690

  

352,165

Interest expense:

  

  

  

Deposits

101,467

  

94,151

Borrowed funds

15,803

  

10,752

Total interest expense

117,270

  

104,903

Net interest income

289,420

  

247,262

Provision for credit losses - loans

9,234

  

19,712

Provision for credit losses - unfunded commitments

1,772

  

(3,057)

Net interest income after provision for credit losses

278,414

  

230,607

Noninterest income:

  

  

  

Gain on sale of investments

347

  

—

Gain on sale of SBA loans

2,403

  

2,057

Service charges and fees

34,026

  

30,784

Trust and other financial services income

18,067

  

15,858

Gain on real estate owned, net

90

  

342

Income from bank-owned life insurance

4,055

  

2,752

Mortgage banking income

1,067

  

1,771

Other operating income

6,756

  

5,729

Total noninterest income

66,811

  

59,293

Noninterest expense:

  

  

  

Compensation and employee benefits

121,806

  

109,753

Premises and occupancy costs

18,357

  

15,522

Office operations

7,535

  

5,887

Collections expense

1,543

  

1,166

Processing expenses

33,754

  

26,963

Marketing expenses

4,030

  

4,898

Federal deposit insurance premiums

2,604

  

4,624

Professional services

7,013

  

6,746

Amortization of intangible assets

4,355

  

940

Merger, asset disposition and restructuring expense

1,057

  

7,367

Other expenses

6,267

  

5,411

Total noninterest expense

208,321

  

189,277

Income before income taxes

136,904

  

100,623

Income tax expense

32,822

  

23,490

Net income

$ 104,082

  

77,133

  

  

  

  

Basic earnings per share

$ 0.71

  

0.60

Diluted earnings per share

$ 0.71

  

0.60

  

  

  

  

Weighted average common shares outstanding - diluted

146,990,065

  

128,347,141

  

  

  

  

Annualized return on average equity

11.03 %

  

9.56 %

Annualized return on average assets

1.25 %

  

1.08 %

Annualized return on tangible common equity\*

14.77 %

  

12.51 %

  

  

  

  

Efficiency ratio

58.48 %

  

61.74 %

Efficiency ratio, excluding certain items\*\*

57.02 %

  

59.03 %

\*

Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

\*\*

Excludes gain on sale of investments, amortization of intangible assets and merger, asset disposition and restructuring expenses (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Reconciliation of Non-GAAP Financial Measures (Unaudited) \***

**(dollars in thousands, except per share amounts)**

  

  

**Quarter ended**

  

**Six months ended June 30,**

  

**June 30,  
2026**

  

**March 31,**  
**2026**

  

**June 30,  
2025**

  

**2026**

  

**2025**

Reconciliation of net income to adjusted net income:

  

  

  

  

  

  

  

  

  

Net income (GAAP)

$ 53,546

  

50,536

  

33,675

  

104,082

  

77,133

Non-GAAP adjustments

  

  

  

  

  

  

  

  

  

Add: merger, asset disposition and restructuring expense

426

  

631

  

6,244

  

1,057

  

7,367

Less: tax benefit of non-GAAP adjustments

(119)

  

(177)

  

(1,748)

  

(296)

  

(2,063)

Adjusted net income (non-GAAP)

$ 53,853

  

50,990

  

38,171

  

104,843

  

82,437

Diluted earnings per share (GAAP)

$ 0.36

  

0.34

  

0.26

  

0.71

  

0.60

Diluted adjusted earnings per share (non-GAAP)

$ 0.37

  

0.35

  

0.30

  

0.71

  

0.64

  

  

  

  

  

  

  

  

  

  

Average equity

$ 1,918,135

  

1,887,742

  

1,635,966

  

1,903,023

  

1,626,342

Average assets

16,863,639

  

16,832,777

  

14,468,197

  

16,848,293

  

14,435,522

Annualized return on average equity (GAAP)

11.20 %

  

10.86 %

  

8.26 %

  

11.03 %

  

9.56 %

Annualized return on average assets (GAAP)

1.27 %

  

1.22 %

  

0.93 %

  

1.25 %

  

1.08 %

Annualized return on average equity, excluding merger, asset disposition and  
restructuring expense, net of tax (non-GAAP)

11.26 %

  

10.95 %

  

9.36 %

  

11.11 %

  

10.22 %

Annualized return on average assets, excluding merger, asset disposition and  
restructuring expense, net of tax (non-GAAP)

1.28 %

  

1.23 %

  

1.06 %

  

1.25 %

  

1.15 %

The following non-GAAP financial measures used by the Company provide information useful to investors in understanding our operating performance and trends, and facilitate comparisons with the performance of our peers. The following table summarizes the non-GAAP financial measures derived from amounts reported in the Company's Consolidated Statements of Financial Condition.

  

**June 30,**  
**2026**

  

**December 31,**  
**2025**

  

**June 30,**  
**2025**

**Tangible common equity to assets**

  

  

  

  

  

Total shareholders' equity

$ 1,927,407

  

1,890,424

  

1,642,068

Less: goodwill and intangible assets

(480,309)

  

(483,997)

  

(382,894)

Tangible common equity

$ 1,447,098

  

1,406,427

  

1,259,174

  

  

  

  

  

  

Total assets

$ 17,207,139

  

16,766,617

  

14,485,107

Less: goodwill and intangible assets

(480,309)

  

(483,997)

  

(382,894)

Tangible assets

$ 16,726,830

  

16,282,620

  

14,102,213

  

  

  

  

  

  

Tangible common equity to tangible assets

8.65 %

  

8.64 %

  

8.93 %

  

  

  

  

  

  

**Tangible book value per share**

  

  

  

  

  

Tangible common equity

$ 1,447,098

  

1,406,427

  

1,259,174

Common shares outstanding

146,396,520

  

146,107,964

  

127,842,403

Tangible book value per share

9.88

  

9.63

  

9.85

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Reconciliation of Non-GAAP Financial Measures (Unaudited) \***

**(dollars in thousands, except per share amounts)**

  

The following table summarizes the non-GAAP financial measures derived from amounts reported in the Company's Consolidated Statements of Income.

  

  

**Quarter** **ended**

  

**Six months ended June 30,**

  

**June 30,**  
**2026**

  

**March 31,**  
**2026**

  

**December 31,**  
**2025**

  

**September 30,  
2025**

  

**June 30,**  
**2025**

  

**2026**

  

**2025**

  

  

  

  

  

  

  

**Annualized return on average tangible common equity**

  

  

  

  

  

  

  

  

  

  

  

  

  

Net income

$ 53,546

  

50,536

  

45,713

  

3,167

  

33,675

  

104,082

  

77,133

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Average shareholders' equity

1,918,135

  

1,887,742

  

1,870,088

  

1,809,395

  

1,635,966

  

1,903,023

  

1,626,342

Less: average goodwill and intangible assets

(481,022)

  

(483,240)

  

(485,252)

  

(409,875)

  

(383,152)

  

(482,125)

  

(383,399)

Average tangible common equity

$ 1,437,113

  

1,404,502

  

1,384,836

  

1,399,520

  

1,252,814

  

1,420,898

  

1,242,943

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Annualized return on average tangible common equity

14.94 %

  

14.59 %

  

13.10 %

  

0.90 %

  

10.78 %

  

14.77 %

  

12.51 %

  

  

  

  

  

  

  

  

  

  

  

  

  

  

**Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset  
disposition and restructuring expenses**

  

  

  

  

  

  

  

  

  

  

  

  

  

Noninterest expense

$ 104,283

  

104,038

  

113,521

  

133,498

  

97,540

  

208,321

  

189,277

Less: amortization expense

(2,166)

  

(2,189)

  

(2,257)

  

(1,974)

  

(436)

  

(4,355)

  

(940)

Less: merger, asset disposition and restructuring expenses

(426)

  

(631)

  

(4,160)

  

(31,260)

  

(6,244)

  

(1,057)

  

(7,367)

Noninterest expense, excluding amortization and merger, assets disposition and  
restructuring expenses

$ 101,691

  

101,218

  

107,104

  

100,264

  

90,860

  

202,909

  

180,970

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Net interest income

$ 146,938

  

142,482

  

142,166

  

135,974

  

119,444

  

289,420

  

247,262

Noninterest income

34,229

  

32,582

  

37,777

  

32,198

  

30,938

  

66,811

  

59,293

Less: gain on the sale of investments

(336)

  

(11)

  

(142)

  

(36)

  

—

  

(347)

  

—

Net interest income plus noninterest income, excluding gain on sale of investments

$ 180,831

  

175,053

  

179,801

  

168,136

  

150,382

  

355,884

  

306,555

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset  
disposition and restructuring expenses

56.24 %

  

57.82 %

  

59.57 %

  

59.63 %

  

60.42 %

  

57.02 %

  

59.03 %

\*

The table summarizes the Company's results from operations on a GAAP basis and on an operating (non-GAAP) basis for the periods indicated. Operating results exclude merger, gain on sale of investments, asset disposition and restructuring expense and amortization expense. The net tax effect was calculated using statutory tax rates of approximately 28.0%. The Company believes this non-GAAP presentation provides a meaningful comparison of operational performance and facilitates a more effective evaluation and comparison of results to assess performance in relation to ongoing operations.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Deposits (Unaudited)**

**(dollars in thousands)**

  

Generally, deposits in excess of $250,000 per depositor are not insured by the Federal Deposit Insurance Corporation. The following  
table provides details regarding the Company's uninsured deposits portfolio:

  

  

**As of June** **30, 2026**

  

**Balance**

  

**Percent of**  
**total deposits**

  

**Number of**  
**relationships**

Uninsured deposits per the Call Report (1)

$ 3,945,748

  

27.9 %

  

6,287

Less intercompany deposit accounts

1,427,595

  

10.1 %

  

12

Less collateralized deposit accounts

445,460

  

3.2 %

  

253

Uninsured deposits excluding intercompany and collateralized accounts

$ 2,072,693

  

14.6 %

  

6,022

(1)

Uninsured deposits presented may be different from actual amounts due to titling of accounts.

Our largest uninsured depositor, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $185 million, or 1.3% of total deposits, as of June 30, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $404 million, or 2.9% of total deposits, as of June 30, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $344,187 as of June 30, 2026.

  

The following table provides additional details for the Company's deposit portfolio:

  

**As of June** **30, 2026**

  

**Balance**

  

**Percent of**  
**total deposits**

  

**Number of**  
**accounts**

Personal noninterest bearing demand deposits

$ 1,750,490

  

12.3 %

  

310,031

Business noninterest bearing demand deposits

1,441,070

  

10.2 %

  

47,768

Personal interest-bearing demand deposits

1,372,409

  

9.7 %

  

54,166

Business interest-bearing demand deposits

1,544,109

  

10.9 %

  

8,805

Personal money market deposits

1,788,118

  

12.6 %

  

28,151

Business money market deposits

978,557

  

6.9 %

  

3,179

Savings deposits

2,459,255

  

17.4 %

  

187,619

Time deposits

2,827,810

  

20.0 %

  

76,448

Total deposits

$ 14,161,818

  

100.0 %

  

716,167

Our average deposit account balance as of June 30, 2026 was $19,774. The Company's insured cash sweep deposit balance was $743 million as of June 30, 2026.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Regulatory Capital Requirements (Unaudited)**

**(dollars in thousands)**

  

  

**At June 30, 2026**

  

**Actual (1)**

  

**Minimum** **capital**

**requirements (2)**

  

**Well** **capitalized**

**requirements**

  

**Amount**

  

**Ratio**

  

**Amount**

  

**Ratio**

  

**Amount**

  

**Ratio**

Total capital (to risk weighted assets)

  

  

  

  

  

  

  

  

  

  

  

Northwest Bancshares, Inc.

$ 1,934,993

  

15.17 %

  

$ 1,339,188

  

10.50 %

  

$ 1,275,417

  

10.00 %

Northwest Bank

1,789,556

  

14.04 %

  

1,337,925

  

10.50 %

  

1,274,214

  

10.00 %

  

  

  

  

  

  

  

  

  

  

  

  

Tier 1 capital (to risk weighted assets)

  

  

  

  

  

  

  

  

  

  

  

Northwest Bancshares, Inc.

1,557,333

  

12.21 %

  

1,084,105

  

8.50 %

  

765,250

  

6.00 %

Northwest Bank

1,630,118

  

12.79 %

  

1,083,082

  

8.50 %

  

1,019,371

  

8.00 %

  

  

  

  

  

  

  

  

  

  

  

  

Common equity tier 1 capital (to risk weighted assets)

  

  

  

  

  

  

  

  

  

  

  

Northwest Bancshares, Inc.

1,557,333

  

12.21 %

  

892,792

  

7.00 %

  

N/A

  

N/A

Northwest Bank

1,630,118

  

12.79 %

  

891,950

  

7.00 %

  

828,239

  

6.50 %

  

  

  

  

  

  

  

  

  

  

  

  

Tier 1 capital (leverage) (to average assets)

  

  

  

  

  

  

  

  

  

  

  

Northwest Bancshares, Inc.

1,557,333

  

9.37 %

  

664,478

  

4.00 %

  

N/A

  

N/A

Northwest Bank

1,630,118

  

9.83 %

  

663,100

  

4.00 %

  

828,874

  

5.00 %

(1)

June 30, 2026 figures are estimated.

(2)

Amounts and ratios include the capital conservation buffer of 2.5%, which does not apply to Tier 1 capital to average assets (leverage ratio). For further information related to the capital conservation buffer, see "Item 1. Business - Supervision and Regulation" of our 2025 Annual Report on Form 10-K.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Marketable Securities (Unaudited)**

**(dollars in thousands)**

  

  

  

**June 30, 2026**

Marketable securities available-for-sale

  

**Amortized cost**

  

**Gross unrealized**

**holding gains**

  

**Gross unrealized**

**holding losses**

  

**Fair value**

  

**Weighted average  
duration**

Debt issued by the U.S. government and agencies:

  

  

  

  

  

  

  

  

  

  

Due after ten years

  

$ 39,877

  

—

  

(7,237)

  

32,640

  

5.75

  

  

  

  

  

  

  

  

  

  

  

Municipal securities:

  

  

  

  

  

  

  

  

  

  

Due in one year or less

  

1,250

  

1

  

—

  

1,251

  

0.47

Due after one year through five years

  

5,605

  

13

  

(22)

  

5,596

  

2.18

Due after five years through ten years

  

20,303

  

160

  

(1,333)

  

19,130

  

6.51

Due after ten years

  

48,105

  

182

  

(6,234)

  

42,053

  

9.14

  

  

  

  

  

  

  

  

  

  

  

Corporate debt issues:

  

  

  

  

  

  

  

  

  

  

Due after one year through five years

  

16,405

  

15

  

(107)

  

16,313

  

2.92

Due after five years through ten years

  

76,798

  

1,557

  

(635)

  

77,720

  

5.59

Due after ten years

  

5,000

  

25

  

—

  

5,025

  

4.36

  

  

  

  

  

  

  

  

  

  

  

Mortgage-backed agency securities:

  

  

  

  

  

  

  

  

  

  

Fixed rate pass-through

  

527,666

  

1,750

  

(14,661)

  

514,755

  

7.24

Variable rate pass-through

  

364

  

5

  

—

  

369

  

3.00

Fixed rate agency CMBS

  

634,265

  

198

  

(79,321)

  

555,142

  

3.67

Variable rate agency CMBS

  

6,283

  

—

  

(5)

  

6,278

  

1.74

Fixed rate agency CMOs

  

562,128

  

478

  

(37,872)

  

524,734

  

4.50

Variable rate agency CMOs

  

28,116

  

62

  

(5)

  

28,173

  

4.77

Total mortgage-backed agency securities

  

1,758,822

  

2,493

  

(131,864)

  

1,629,451

  

5.07

Total marketable securities available-for-sale

  

$ 1,972,165

  

4,446

  

(147,432)

  

1,829,179

  

5.18

  

  

  

  

  

  

  

  

  

  

  

Marketable securities held-to-maturity

  

  

  

  

  

  

  

  

  

  

Government sponsored

  

  

  

  

  

  

  

  

  

  

Due after one year through five years

  

$ 107,990

  

—

  

(8,338)

  

99,652

  

2.49

  

  

  

  

  

  

  

  

  

  

  

Mortgage-backed agency securities:

  

  

  

  

  

  

  

  

  

  

Fixed rate pass-through

  

91,615

  

—

  

(10,366)

  

81,249

  

3.92

Variable rate pass-through

  

294

  

1

  

—

  

295

  

4.94

Fixed rate agency CMBS

  

72,220

  

—

  

(12,750)

  

59,470

  

3.52

Fixed rate agency CMOs

  

358,155

  

—

  

(48,933)

  

309,222

  

5.38

Variable rate agency CMOs

  

528

  

—

  

—

  

528

  

3.58

Total mortgage-backed agency securities

  

522,812

  

1

  

(72,049)

  

450,764

  

4.87

Total marketable securities held-to-maturity

  

$ 630,802

  

1

  

(80,387)

  

550,416

  

4.46

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Asset Quality (Unaudited)**

**(dollars in thousands)**

  

  

**June 30,**  
**2026**

  

**March 31,**  
**2026**

  

**December 31,**  
**2025**

  

**September 30,**  
**2025**

  

**June 30,**  
**2025**

Nonaccrual loans:

  

  

  

  

  

  

  

  

  

Residential mortgage loans

$ 11,766

  

10,500

  

12,247

  

11,497

  

8,482

Home equity loans

5,370

  

4,780

  

3,755

  

6,979

  

3,507

Consumer loans

4,791

  

5,732

  

5,711

  

5,898

  

4,418

Commercial real estate loans

47,440

  

47,337

  

57,485

  

82,580

  

62,091

Commercial and industrial loans

21,984

  

22,594

  

28,085

  

21,371

  

23,896

Total nonaccrual loans

91,351

  

90,943

  

107,283

  

128,325

  

102,394

Loans 90 days past due and still accruing

573

  

543

  

646

  

701

  

493

Nonperforming loans

91,924

  

91,486

  

107,929

  

129,026

  

102,887

Real estate owned, net

63

  

65

  

76

  

174

  

48

Nonperforming assets

$ 91,987

  

91,551

  

108,005

  

129,200

  

102,935

  

  

  

  

  

  

  

  

  

  

Nonperforming loans to total loans

0.69 %

  

0.70 %

  

0.83 %

  

1.00 %

  

0.91 %

Nonperforming assets to total assets

0.53 %

  

0.54 %

  

0.64 %

  

0.79 %

  

0.71 %

Allowance for credit losses to total loans

1.13 %

  

1.15 %

  

1.15 %

  

1.22 %

  

1.14 %

Allowance for credit losses to nonperforming loans

162.44 %

  

164.01 %

  

139.18 %

  

121.99 %

  

125.53 %

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Loans by Credit Quality Indicators (Unaudited)**

**(dollars in thousands)**

  

At June 30, 2026

  

**Pass**

  

**Special mention \***

  

**Substandard \*\***

  

**Doubtful**

  

**Loss**

  

**Loans**

**receivable**

Personal Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

  

$ 2,990,142

  

—

  

11,766

  

—

  

—

  

3,001,908

Home equity loans

  

1,491,787

  

—

  

5,370

  

—

  

—

  

1,497,157

Consumer loans

  

2,837,791

  

—

  

5,267

  

—

  

—

  

2,843,058

Total Personal Banking

  

7,319,720

  

—

  

22,403

  

—

  

—

  

7,342,123

Commercial Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Commercial real estate loans

  

2,443,890

  

152,441

  

391,906

  

—

  

—

  

2,988,237

Commercial and industrial loans

  

2,742,819

  

46,301

  

109,747

  

—

  

—

  

2,898,867

Total Commercial Banking

  

5,186,709

  

198,742

  

501,653

  

—

  

—

  

5,887,104

Total loans

  

$ 12,506,429

  

198,742

  

524,056

  

—

  

—

  

13,229,227

At March 31, 2026

  

  

  

  

  

  

  

  

  

  

  

  

Personal Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

  

$ 3,025,485

  

—

  

10,499

  

—

  

—

  

3,035,984

Home equity loans

  

1,491,020

  

—

  

4,780

  

—

  

—

  

1,495,800

Consumer loans

  

2,654,310

  

—

  

6,257

  

—

  

—

  

2,660,567

Total Personal Banking

  

7,170,815

  

—

  

21,536

  

—

  

—

  

7,192,351

Commercial Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Commercial real estate loans

  

2,651,304

  

147,384

  

362,626

  

—

  

—

  

3,161,314

Commercial and industrial loans

  

2,543,444

  

45,383

  

113,456

  

—

  

—

  

2,702,283

Total Commercial Banking

  

5,194,748

  

192,767

  

476,082

  

—

  

—

  

5,863,597

Total loans

  

$ 12,365,563

  

192,767

  

497,618

  

—

  

—

  

13,055,948

At December 31, 2025

  

  

  

  

  

  

  

  

  

  

  

  

Personal Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

  

$ 3,088,533

  

—

  

12,247

  

—

  

—

  

3,100,780

Home equity loans

  

1,503,777

  

—

  

3,755

  

—

  

—

  

1,507,532

Consumer loans

  

2,557,577

  

—

  

6,313

  

—

  

—

  

2,563,890

Total Personal Banking

  

7,149,887

  

—

  

22,315

  

—

  

—

  

7,172,202

Commercial Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Commercial real estate loans

  

2,817,802

  

131,589

  

347,511

  

—

  

—

  

3,296,902

Commercial and industrial loans

  

2,392,830

  

61,852

  

83,530

  

—

  

—

  

2,538,212

Total Commercial Banking

  

5,210,632

  

193,441

  

431,041

  

—

  

—

  

5,835,114

Total loans

  

$ 12,360,519

  

193,441

  

453,356

  

—

  

—

  

13,007,316

At September 30, 2025

  

  

  

  

  

  

  

  

  

  

  

  

Personal Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

  

$ 3,146,355

  

—

  

11,498

  

—

  

—

  

3,157,853

Home equity loans

  

1,513,914

  

—

  

6,979

  

—

  

—

  

1,520,893

Consumer loans

  

2,447,208

  

—

  

6,597

  

—

  

—

  

2,453,805

Total Personal Banking

  

7,107,477

  

—

  

25,074

  

—

  

—

  

7,132,551

Commercial Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Commercial real estate loans

  

2,912,166

  

171,005

  

412,493

  

—

  

—

  

3,495,664

Commercial and industrial loans

  

2,141,236

  

82,009

  

89,473

  

—

  

—

  

2,312,718

Total Commercial Banking

  

5,053,402

  

253,014

  

501,966

  

—

  

—

  

5,808,382

Total loans

  

$ 12,160,879

  

253,014

  

527,040

  

—

  

—

  

12,940,933

At June 30, 2025

  

  

  

  

  

  

  

  

  

  

  

  

Personal Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

  

$ 3,039,809

  

—

  

12,317

  

—

  

—

  

3,052,126

Home equity loans

  

1,153,808

  

—

  

3,712

  

—

  

—

  

1,157,520

Consumer loans

  

2,206,363

  

—

  

4,912

  

—

  

—

  

2,211,275

Total Personal Banking

  

6,399,980

  

—

  

20,941

  

—

  

—

  

6,420,921

Commercial Banking:

  

  

  

  

  

  

  

  

  

  

  

  

Commercial real estate loans

  

2,266,057

  

112,852

  

403,495

  

—

  

—

  

2,782,404

Commercial and industrial loans

  

1,956,751

  

87,951

  

93,797

  

—

  

—

  

2,138,499

Total Commercial Banking

  

4,222,808

  

200,803

  

497,292

  

—

  

—

  

4,920,903

Total loans

  

$ 10,622,788

  

200,803

  

518,233

  

—

  

—

  

11,341,824

\*

Includes $79.1 million, $85.6 million, $38.2 million, $41.0 million, and $4.0 million of acquired loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.

\*\*

Includes $163.0 million, $100.4 million, $93.2 million, $96.9 million, and $19.2 million of acquired loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Loan Delinquency (Unaudited)**

**(dollars in thousands)**

  

  

**June 30,  
2026**

  

**\***

  

**March 31,  
2026**

  

**\***

  

**December 31,  
2025**

  

**\***

  

**September 30,  
2025**

  

**\***

  

**June 30,  
2025**

  

**\***

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Loans delinquent 30 days to 59 days:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

$ 1,140

  

— %

  

$ 44,502

  

1.5 %

  

$ 41,180

  

1.3 %

  

$ 1,639

  

0.1 %

  

$ 561

  

— %

Home equity loans

6,611

  

0.4 %

  

5,932

  

0.4 %

  

6,488

  

0.4 %

  

4,644

  

0.3 %

  

4,664

  

0.4 %

Consumer loans

11,812

  

0.4 %

  

10,429

  

0.4 %

  

14,063

  

0.5 %

  

12,257

  

0.5 %

  

9,174

  

0.4 %

Commercial real estate loans

4,370

  

0.1 %

  

17,541

  

0.6 %

  

28,645

  

0.9 %

  

14,600

  

0.4 %

  

4,585

  

0.2 %

Commercial and industrial loans

2,844

  

0.1 %

  

7,127

  

0.3 %

  

5,657

  

0.2 %

  

9,974

  

0.4 %

  

5,569

  

0.3 %

Total loans delinquent 30 days to 59 days

$ 26,777

  

0.2 %

  

$ 85,531

  

0.7 %

  

$ 96,033

  

0.7 %

  

$ 43,114

  

0.3 %

  

$ 24,553

  

0.2 %

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Loans delinquent 60 days to 89 days:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

$ 7,468

  

0.2 %

  

$ 2,531

  

0.1 %

  

$ 10,934

  

0.4 %

  

$ 7,917

  

0.3 %

  

$ 8,958

  

0.3 %

Home equity loans

2,116

  

0.1 %

  

2,946

  

0.2 %

  

2,316

  

0.2 %

  

2,671

  

0.2 %

  

985

  

0.1 %

Consumer loans

3,508

  

0.1 %

  

4,264

  

0.2 %

  

4,599

  

0.2 %

  

3,691

  

0.2 %

  

3,233

  

0.1 %

Commercial real estate loans

3,208

  

0.1 %

  

25,859

  

0.8 %

  

12,941

  

0.4 %

  

1,575

  

— %

  

13,240

  

0.5 %

Commercial and industrial loans

5,837

  

0.2 %

  

8,432

  

0.3 %

  

2,899

  

0.1 %

  

1,915

  

0.1 %

  

2,031

  

0.1 %

Total loans delinquent 60 days to 89 days

$ 22,137

  

0.2 %

  

$ 44,032

  

0.3 %

  

$ 33,689

  

0.3 %

  

$ 17,769

  

0.1 %

  

$ 28,447

  

0.3 %

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Loans delinquent 90 days or more:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

$ 10,671

  

0.4 %

  

$ 6,468

  

0.2 %

  

$ 10,001

  

0.3 %

  

$ 9,427

  

0.3 %

  

$ 6,905

  

0.2 %

Home equity loans

4,343

  

0.3 %

  

3,263

  

0.2 %

  

2,492

  

0.2 %

  

2,963

  

0.2 %

  

1,879

  

0.2 %

Consumer loans

4,038

  

0.1 %

  

4,561

  

0.2 %

  

4,893

  

0.2 %

  

4,865

  

0.2 %

  

3,486

  

0.2 %

Commercial real estate loans

29,840

  

1.0 %

  

18,282

  

0.6 %

  

32,745

  

1.0 %

  

56,453

  

1.6 %

  

41,875

  

1.5 %

Commercial and industrial loans

15,659

  

0.5 %

  

11,266

  

0.4 %

  

16,269

  

0.6 %

  

9,490

  

0.4 %

  

10,433

  

0.5 %

Total loans delinquent 90 days or more

$ 64,551

  

0.5 %

  

$ 43,840

  

0.3 %

  

$ 66,400

  

0.5 %

  

$ 83,198

  

0.6 %

  

$ 64,578

  

0.6 %

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Total loans delinquent

$ 113,465

  

0.9 %

  

$ 173,403

  

1.3 %

  

$ 196,122

  

1.5 %

  

$ 144,081

  

1.1 %

  

$ 117,578

  

1.0 %

\*

Represents delinquency, in dollars, divided by the respective total amount of that type of loan outstanding.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Allowance for Credit Losses (Unaudited)**

**(dollars in thousands)**

  

  

**Quarter** **ended**

  

**June 30,**  
**2026**

  

**March 31,**  
**2026**

  

**December 31,**  
**2025**

  

**September 30,**  
**2025**

  

**June 30,**  
**2025**

Beginning balance

$ 150,045

  

150,212

  

157,396

  

129,159

  

122,809

Initial allowance on loans purchased with credit deterioration

—

  

—

  

—

  

6,029

  

—

Provision

4,280

  

4,954

  

5,743

  

31,394

  

11,456

Charge-offs residential mortgage

(465)

  

(1,001)

  

(228)

  

(137)

  

(273)

Charge-offs home equity

(383)

  

(291)

  

(558)

  

(336)

  

(413)

Charge-offs consumer

(4,121)

  

(4,531)

  

(4,139)

  

(3,994)

  

(3,331)

Charge-offs commercial real estate

(889)

  

(254)

  

(9,765)

  

(4,312)

  

(293)

Charge-offs commercial and industrial

(945)

  

(1,155)

  

(532)

  

(2,395)

  

(3,597)

Recoveries

1,799

  

2,111

  

2,295

  

1,988

  

2,801

Ending balance

$ 149,321

  

150,045

  

150,212

  

157,396

  

129,159

Net charge-offs to average loans, annualized

0.15 %

  

0.16 %

  

0.40 %

  

0.29 %

  

0.18 %

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

**Six months ended June 30,**

  

  

  

  

  

  

  

**2026**

  

**2025**

Beginning balance

  

  

  

  

  

  

$ 150,212

  

116,819

Provision

  

  

  

  

  

  

9,234

  

19,712

Charge-offs residential mortgage

  

  

  

  

  

  

(1,466)

  

(861)

Charge-offs home equity

  

  

  

  

  

  

(674)

  

(686)

Charge-offs consumer

  

  

  

  

  

  

(8,652)

  

(7,136)

Charge-offs commercial real estate

  

  

  

  

  

  

(1,143)

  

(409)

Charge-offs commercial and industrial

  

  

  

  

  

  

(2,100)

  

(4,168)

Recoveries

  

  

  

  

  

  

3,910

  

5,888

Ending balance

  

  

  

  

  

  

$ 149,321

  

129,159

Net charge-offs to average loans, annualized

  

  

  

  

  

  

0.16 %

  

0.13 %

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Average Balance Sheet (Unaudited)**

**(dollars in thousands)**

  

The following table sets forth certain information relating to the Company's average balance sheet and reflects the average yield on assets and average cost of liabilities for the periods indicated. Such yields and costs are derived by dividing income or expense by the average balance of assets or liabilities, respectively, for the periods presented. Average balances are calculated using daily averages.

  

  

**Quarter** **ended**

  

**June 30, 2026**

  

**March 31, 2026**

  

**December 31, 2025**

  

**September 30, 2025**

  

**June 30, 2025**

  

**Average**

**balance**

  

**Interest**

  

**Avg.  
yield/  
cost**

  

**Average**

**balance**

  

**Interest**

  

**Avg.**

**yield/**

**cost**

  

**Average**

**balance**

  

**Interest**

  

**Avg.**

**yield/**

**cost**

  

**Average**

**balance**

  

**Interest**

  

**Avg.**

**yield/**

**cost**

  

**Average**

**balance**

  

**Interest**

  

**Avg.**

**yield/**

**cost**

Assets:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Interest-earning assets:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

$ 3,030,237

  

30,219

  

3.99 %

  

$ 3,078,476

  

30,596

  

3.98 %

  

$ 3,147,858

  

31,814

  

4.04 %

  

$ 3,160,008

  

31,386

  

3.97 %

  

$ 3,091,324

  

29,978

  

3.88 %

Home equity loans

1,494,049

  

21,798

  

5.85 %

  

1,501,203

  

21,512

  

5.81 %

  

1,512,049

  

22,802

  

5.98 %

  

1,421,717

  

21,080

  

5.88 %

  

1,145,655

  

16,265

  

5.69 %

Consumer loans

2,658,435

  

36,064

  

5.44 %

  

2,529,868

  

34,270

  

5.49 %

  

2,412,579

  

34,436

  

5.66 %

  

2,330,173

  

32,729

  

5.57 %

  

2,073,103

  

28,648

  

5.54 %

Commercial real estate loans

3,131,545

  

49,291

  

6.23 %

  

3,342,140

  

51,337

  

6.14 %

  

3,468,667

  

53,345

  

6.02 %

  

3,377,740

  

51,761

  

6.00 %

  

2,836,757

  

43,457

  

6.06 %

Commercial and industrial loans

2,779,969

  

45,753

  

6.51 %

  

2,632,150

  

43,497

  

6.61 %

  

2,441,346

  

42,447

  

6.80 %

  

2,278,859

  

41,519

  

7.13 %

  

2,102,115

  

37,287

  

7.02 %

Total loans receivable (a) (b) (d)

13,094,235

  

183,125

  

5.61 %

  

13,083,837

  

181,212

  

5.62 %

  

12,982,499

  

184,844

  

5.65 %

  

12,568,497

  

178,475

  

5.63 %

  

11,248,954

  

155,635

  

5.55 %

Mortgage-backed securities (c)

2,232,535

  

18,024

  

3.23 %

  

2,148,996

  

16,999

  

3.16 %

  

1,892,074

  

14,071

  

2.97 %

  

1,810,209

  

12,668

  

2.80 %

  

1,790,423

  

12,154

  

2.72 %

Investment securities (c) (d)

299,068

  

2,652

  

3.55 %

  

317,996

  

2,566

  

3.23 %

  

309,147

  

2,339

  

3.03 %

  

301,719

  

2,153

  

2.85 %

  

266,053

  

1,668

  

2.51 %

FHLB stock, at cost

34,416

  

738

  

8.60 %

  

36,220

  

768

  

8.59 %

  

32,876

  

701

  

8.46 %

  

30,434

  

652

  

8.51 %

  

17,838

  

318

  

7.15 %

Other interest-earning deposits

141,898

  

1,436

  

4.00 %

  

139,970

  

871

  

2.49 %

  

170,370

  

1,905

  

4.37 %

  

164,131

  

1,700

  

4.05 %

  

220,416

  

2,673

  

4.85 %

Total interest-earning assets

15,802,152

  

205,975

  

5.23 %

  

15,727,019

  

202,416

  

5.22 %

  

15,386,966

  

203,860

  

5.26 %

  

14,874,990

  

195,648

  

5.22 %

  

13,543,684

  

172,448

  

5.11 %

Noninterest-earning assets (e)

1,061,487

  

  

  

  

  

1,105,758

  

  

  

  

  

1,107,042

  

  

  

  

  

1,067,450

  

  

  

  

  

924,513

  

  

  

  

Total assets

$ 16,863,639

  

  

  

  

  

$ 16,832,777

  

  

  

  

  

$ 16,494,008

  

  

  

  

  

$ 15,942,440

  

  

  

  

  

$ 14,468,197

  

  

  

  

Liabilities and shareholders' equity:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Interest-bearing liabilities:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Savings deposits

$ 2,447,522

  

6,531

  

1.07 %

  

$ 2,395,887

  

6,072

  

1.03 %

  

$ 2,362,215

  

6,324

  

1.06 %

  

$ 2,343,137

  

6,679

  

1.13 %

  

$ 2,212,175

  

6,521

  

1.18 %

Interest-bearing demand deposit

2,973,878

  

8,422

  

1.14 %

  

2,999,478

  

8,741

  

1.18 %

  

2,940,296

  

9,084

  

1.23 %

  

2,782,369

  

8,258

  

1.18 %

  

2,609,887

  

7,192

  

1.11 %

Money market deposit accounts

2,728,590

  

12,723

  

1.87 %

  

2,609,333

  

12,128

  

1.88 %

  

2,522,362

  

12,499

  

1.97 %

  

2,392,748

  

11,785

  

1.95 %

  

2,121,088

  

9,658

  

1.83 %

Time deposits

2,882,261

  

22,708

  

3.16 %

  

2,967,098

  

24,142

  

3.30 %

  

2,841,234

  

25,040

  

3.50 %

  

2,818,526

  

25,158

  

3.54 %

  

2,599,254

  

23,455

  

3.62 %

Total interest bearing deposits (g)

11,032,251

  

50,384

  

1.83 %

  

10,971,796

  

51,083

  

1.89 %

  

10,666,107

  

52,947

  

1.97 %

  

10,336,780

  

51,880

  

1.99 %

  

9,542,404

  

46,826

  

1.97 %

Borrowed funds (f)

379,262

  

3,740

  

3.96 %

  

404,547

  

3,875

  

3.88 %

  

354,894

  

3,425

  

3.83 %

  

347,357

  

3,366

  

3.84 %

  

208,342

  

2,046

  

3.94 %

Subordinated debt

114,800

  

2,200

  

7.58 %

  

114,800

  

2,204

  

7.68 %

  

114,800

  

2,285

  

7.79 %

  

114,745

  

1,335

  

4.65 %

  

114,661

  

1,148

  

4.00 %

Junior subordinated debentures

130,181

  

1,878

  

5.70 %

  

130,121

  

1,906

  

5.86 %

  

130,051

  

2,002

  

6.02 %

  

129,986

  

2,123

  

6.39 %

  

129,921

  

2,106

  

6.41 %

Total interest-bearing liabilities

11,656,494

  

58,202

  

2.00 %

  

11,621,264

  

59,068

  

2.06 %

  

11,265,852

  

60,659

  

2.14 %

  

10,928,868

  

58,704

  

2.13 %

  

9,995,328

  

52,126

  

2.09 %

Noninterest-bearing demand deposits (g)

3,101,574

  

  

  

  

  

3,074,939

  

  

  

  

  

3,105,108

  

  

  

  

  

2,959,871

  

  

  

  

  

2,611,597

  

  

  

  

Noninterest-bearing liabilities

187,436

  

  

  

  

  

248,832

  

  

  

  

  

252,960

  

  

  

  

  

244,306

  

  

  

  

  

225,306

  

  

  

  

Total liabilities

14,945,504

  

  

  

  

  

14,945,035

  

  

  

  

  

14,623,920

  

  

  

  

  

14,133,045

  

  

  

  

  

12,832,231

  

  

  

  

Shareholders' equity

1,918,135

  

  

  

  

  

1,887,742

  

  

  

  

  

1,870,088

  

  

  

  

  

1,809,395

  

  

  

  

  

1,635,966

  

  

  

  

Total liabilities and shareholders' equity

$ 16,863,639

  

  

  

  

  

$ 16,832,777

  

  

  

  

  

$ 16,494,008

  

  

  

  

  

$ 15,942,440

  

  

  

  

  

$ 14,468,197

  

  

  

  

Net interest income/Interest rate spread FTE

  

  

147,773

  

3.23 %

  

  

  

143,348

  

3.16 %

  

  

  

143,201

  

3.12 %

  

  

  

136,944

  

3.09 %

  

  

  

120,322

  

3.02 %

Net interest-earning assets/Net interest margin FTE

$ 4,145,658

  

  

  

3.75 %

  

$ 4,105,755

  

  

  

3.70 %

  

$ 4,121,114

  

  

  

3.69 %

  

$ 3,946,122

  

  

  

3.65 %

  

$ 3,548,356

  

  

  

3.56 %

Tax equivalent adjustment (d)

  

  

835

  

  

  

  

  

866

  

  

  

  

  

1,035

  

  

  

  

  

970

  

  

  

  

  

878

  

  

Net interest income, GAAP basis

  

  

146,938

  

  

  

  

  

142,482

  

  

  

  

  

142,166

  

  

  

  

  

135,974

  

  

  

  

  

119,444

  

  

Ratio of interest-earning assets to interest-bearing liabilities

1.36X

  

  

  

  

  

1.35X

  

  

  

  

  

1.37X

  

  

  

  

  

1.36X

  

  

  

  

  

1.36X

  

  

  

  

(a)

Average gross loans receivable includes loans held as available-for-sale and loans placed on nonaccrual status.

(b)

Interest income includes accretion/amortization of deferred loan fees/expenses, which was not material.

(c)

Average balances do not include the effect of unrealized gains or losses on securities held as available-for-sale.

(d)

Interest income on tax-free investment securities and tax-free loans are presented on a fully taxable equivalent ("FTE") basis.

(e)

Average balances include the effect of unrealized gains or losses on securities held as available-for-sale.

(f)

Average balances include FHLB borrowings and collateralized borrowings.

(g)

Average cost of total deposits were 1.43%, 1.48%, 1.53%, 1.55%, and 1.55%, respectively.

**Northwest Bancshares,** **Inc. and Subsidiaries**

**Average Balance Sheet (Unaudited)**

**(in thousands)**

  

The following table sets forth certain information relating to the Company's average balance sheet and reflects the average yield on interest-earning assets and average cost of interest-bearing liabilities for the periods indicated. Such yields and costs are derived by dividing income or expense by the average balance of assets or liabilities, respectively, for the periods presented. Average balances are calculated using daily averages.

  

  

**Six months ended June 30,**

  

**2026**

  

**2025**

  

**Average**

**balance**

  

**Interest**

  

**Avg.**

**yield/cost**

  

**Average**

**balance**

  

**Interest**

  

**Avg.**

**yield/cost**

Assets

  

  

  

  

  

  

  

  

  

  

  

Interest-earning assets:

  

  

  

  

  

  

  

  

  

  

  

Residential mortgage loans

$ 3,054,223

  

60,815

  

3.98 %

  

$ 3,123,353

  

60,372

  

3.87 %

Home equity loans

1,497,606

  

43,310

  

5.83 %

  

1,142,708

  

32,429

  

5.72 %

Consumer loans

2,594,507

  

70,334

  

5.47 %

  

2,011,012

  

54,921

  

5.51 %

Commercial real estate loans

3,236,260

  

100,628

  

6.18 %

  

2,858,064

  

99,973

  

6.96 %

Commercial loans

2,706,468

  

89,250

  

6.56 %

  

2,077,799

  

73,299

  

7.02 %

Loans receivable (a) (b) (d)

13,089,064

  

364,337

  

5.61 %

  

11,212,936

  

320,994

  

5.77 %

Mortgage-backed securities (c)

2,190,996

  

35,023

  

3.20 %

  

1,781,959

  

23,884

  

2.68 %

Investment securities (c) (d)

308,480

  

5,218

  

3.38 %

  

264,945

  

3,269

  

2.47 %

FHLB stock, at cost

35,313

  

1,505

  

8.60 %

  

19,342

  

684

  

7.13 %

Other interest-earning deposits

140,934

  

2,307

  

3.26 %

  

231,914

  

5,089

  

4.36 %

Total interest-earning assets

15,764,787

  

408,390

  

5.22 %

  

13,511,096

  

353,920

  

5.28 %

Noninterest-earning assets (e)

1,083,506

  

  

  

  

  

924,426

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Total assets

$ 16,848,293

  

  

  

  

  

$ 14,435,522

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Liabilities and shareholders' equity

  

  

  

  

  

  

  

  

  

  

  

Interest-bearing liabilities:

  

  

  

  

  

  

  

  

  

  

  

Savings deposits

$ 2,421,847

  

12,603

  

1.05 %

  

$ 2,203,289

  

12,973

  

1.19 %

Interest-bearing demand deposits

2,986,607

  

17,163

  

1.16 %

  

2,601,604

  

14,255

  

1.10 %

Money market deposit accounts

2,669,291

  

24,851

  

1.88 %

  

2,102,124

  

18,964

  

1.82 %

Time deposits

2,924,445

  

46,850

  

3.23 %

  

2,614,238

  

47,959

  

3.70 %

Total interest bearing deposits (g)

11,002,190

  

101,467

  

1.86 %

  

9,521,255

  

94,151

  

1.99 %

Borrowed funds (f)

391,835

  

7,615

  

3.92 %

  

216,189

  

4,252

  

3.97 %

Subordinated debt

114,800

  

4,405

  

7.63 %

  

114,618

  

2,296

  

4.01 %

Junior subordinated debentures

130,151

  

3,783

  

5.78 %

  

129,889

  

4,204

  

6.44 %

Total interest-bearing liabilities

11,638,976

  

117,270

  

2.03 %

  

9,981,951

  

104,903

  

2.12 %

Noninterest-bearing demand deposits (g)

3,088,330

  

  

  

  

  

2,600,113

  

  

  

  

Noninterest-bearing liabilities

217,964

  

  

  

  

  

227,116

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Total liabilities

14,945,270

  

  

  

  

  

12,809,180

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Shareholders' equity

1,903,023

  

  

  

  

  

1,626,342

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Total liabilities and shareholders' equity

$ 16,848,293

  

  

  

  

  

$ 14,435,522

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Net interest income/Interest rate spread

  

  

291,120

  

3.19 %

  

  

  

249,017

  

3.16 %

  

  

  

  

  

  

  

  

  

  

  

  

Net interest-earning assets/Net interest margin

$ 4,125,811

  

  

  

3.72 %

  

$ 3,529,145

  

  

  

3.72 %

  

  

  

  

  

  

  

  

  

  

  

  

Tax equivalent adjustment (d)

  

  

1,700

  

  

  

  

  

1,755

  

  

Net interest income, GAAP basis

  

  

289,420

  

  

  

  

  

247,262

  

  

  

  

  

  

  

  

  

  

  

  

  

  

Ratio of interest-earning assets to interest-bearing liabilities

1.35X

  

  

  

  

  

1.35X

  

  

  

  

(a)

Average gross loans receivable includes loans held as available-for-sale and loans placed on nonaccrual status.

(b)

Interest income includes accretion/amortization of deferred loan fees/expenses, which were not material.

(c)

Average balances do not include the effect of unrealized gains or losses on securities held as available-for-sale.

(d)

Interest income on tax-free investment securities and tax-free loans are presented on a fully taxable equivalent ("FTE") basis.

(e)

Average balances include the effect of unrealized gains or losses on securities held as available-for-sale.

(f)

Average balances include FHLB borrowings and collateralized borrowings.

(g)

Average cost of deposits were 1.45% and 1.57%, respectively.

SOURCE Northwest Bancshares, Inc.

### Related Stocks

- [PWOD.US](https://longbridge.com/en/quote/PWOD.US.md)
- [NWBI.US](https://longbridge.com/en/quote/NWBI.US.md)

## Related News & Research

- [Top Northwest Bancshares Executive Makes Notable Move With Insider Stock Sale](https://longbridge.com/en/news/294570600.md)
- [JPMorgan Chase declares Q2 2026 dividend of R$ 0.51 per unit](https://longbridge.com/en/news/294730517.md)
- [Marcopolo attends APIMEC 2026 investor meeting](https://longbridge.com/en/news/294988798.md)
- [Emerson Electric announces Q3 2026 distribution of R$ 1.92 per unit](https://longbridge.com/en/news/295004574.md)
- [Indivior Q2 FY26 GAAP net income rises to $122 million; revenue increases 14% to $343 million YoY](https://longbridge.com/en/news/294679226.md)