Northwest Bancshares, Inc. Announces Redemption of Subordinated Notes

Rhea-AI Summary

Northwest Bancshares (Nasdaq:NWBI) plans to redeem all outstanding 4.000% Fixed-to-Floating Rate Subordinated Notes due September 15, 2030 on September 15, 2026. Holders will receive 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date, with payment processed through The Depository Trust Company.

Positive

• Full redemption of subordinated notes 4.000% due 2030 on September 15, 2026
• Noteholders paid at 100% of principal plus accrued and unpaid interest

Negative

• None.

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COLUMBUS, Ohio, Aug. 17, 2026 /PRNewswire/ -- Northwest Bancshares, Inc., (the "Company"), (Nasdaq: NWBI) today announced the redemption on September 15, 2026, of all of its outstanding 4.000% Fixed-to-Floating Rate Subordinated Notes due September 15, 2030 (CUSIP No. 667339AA3) (the "Notes"). The redemption price for the Notes will be equal to 100% of principal amount of the Notes redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date of September 15, 2026.

In accordance with the indenture governing the Notes, the holders of the Notes will receive notice of the redemption, the redemption price and further instructions and details related to the process of such redemption. Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company.

About Northwest Bancshares, Inc.

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 range of business and personal banking products, as well as employee benefits and wealth management services. Northwest operates 152 full-service financial centers and 11 drive-up locations across Pennsylvania, New York, Ohio and Indiana, and provides customers with fee-free access to more than 55,000 ATMs. Northwest Bancshares, Inc.'s common stock is listed on the NASDAQ Global Select Market (NWBI).

Forward-Looking Statements

This release may contain forward-looking statements with respect to Northwest Bancshares, Inc. (the "Company") including, without limitation, statements relating to the future business plans of the Company. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements are described in the Company's 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 release. 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.

Investor Contact:        
Michael Perry
814-726-2140

Media Contact:
Ian Bailey
380-400-2423
press@northwest.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/northwest-bancshares-inc-announces-redemption-of-subordinated-notes-302853159.html

SOURCE Northwest Bancshares, Inc.

FAQ

What did Northwest Bancshares (NWBI) announce about its subordinated notes on August 17, 2026?

Northwest Bancshares announced it will redeem all outstanding 4.000% Fixed-to-Floating Rate Subordinated Notes due 2030 on September 15, 2026. According to the company, holders will receive 100% of principal plus accrued and unpaid interest through the day before redemption.

When will Northwest Bancshares (NWBI) redeem its 4.000% subordinated notes due 2030?

Northwest Bancshares plans to redeem its 4.000% Fixed-to-Floating Rate Subordinated Notes due 2030 on September 15, 2026. According to the company, interest will accrue up to but excluding that date, when the redemption payment will be made through The Depository Trust Company.

What redemption price will Northwest Bancshares (NWBI) pay for its 4.000% subordinated notes?

Northwest Bancshares will pay 100% of the principal amount of the notes redeemed, plus accrued and unpaid interest. According to the company, interest will be calculated up to, but excluding, the September 15, 2026 redemption date, in line with the governing indenture.

How will holders of Northwest Bancshares (NWBI) subordinated notes receive their redemption payment?

Holders will receive their redemption payment through the facilities of The Depository Trust Company. According to Northwest Bancshares, investors will be paid 100% of principal plus accrued and unpaid interest, with detailed instructions provided in the formal redemption notice.

Will Northwest Bancshares (NWBI) notify investors about the subordinated notes redemption process?

Yes, holders of the subordinated notes will receive a formal redemption notice. According to Northwest Bancshares, this notice will outline the redemption date, redemption price, and provide further instructions and details related to the processing of the September 15, 2026 redemption.

Which Northwest Bancshares (NWBI) securities are being redeemed and what is their interest rate?

Northwest Bancshares is redeeming all outstanding 4.000% Fixed-to-Floating Rate Subordinated Notes due September 15, 2030, CUSIP 667339AA3. According to the company, these notes will be repaid at par plus accrued and unpaid interest as of the September 15, 2026 redemption date.