PR Newswire·Apr 27, 2026, 4:05 PM ET

Northwest Bancshares, Inc. Announces First Quarter 2026 GAAP net income of $51 million, or $0.34 per diluted share

NWBI

Northwest Bancshares, Inc. reported net income of $51 million ($0.34 per diluted share) for the quarter ended March 31, 2026, representing a $7 million increase from the prior year.
Adjusted net income (non-GAAP) reached $51 million ($0.35 per diluted share), driven by a $6 million decrease in adjusted noninterest expense and a $3 million decrease in provision for credit losses.
Net interest margin expanded to 3.70% from 3.69% in the prior quarter, while average commercial and industrial loan growth reached 28% year-over-year.
Credit quality remained strong with annualized net charge-offs of 0.16% and nonperforming assets totaling 0.70% of total assets.
The Board declared a quarterly cash dividend of $0.20 per share, payable on May 20, 2026, marking the 126th consecutive quarter of dividend payments with an annualized yield of approximately 6.3%.
A new share repurchase program was approved authorizing the purchase of up to $50 million in common shares over the next 24 months, replacing the 2012 program.
Total average loans receivable increased $1.9 billion year-over-year, primarily driven by the Penns Woods acquisition, while average deposits grew $2.0 billion year-over-year.
Noninterest income decreased $5 million quarter-over-quarter due to lower income from bank-owned life insurance, while noninterest expense decreased $9 million due to reduced merger \& restructuring expenses.
Classified loans increased to $498 million (3.81% of total loans) at March 31, 2026, largely due to loans acquired in the Penns Woods transaction.
The company operates 151 full-service financial centers and ten drive-up facilities across Pennsylvania, New York, Ohio, and Indiana as of the quarter end.