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Northwest Bancshares, Inc. reported record second‑quarter 2026 results, with GAAP net income of $53.5 million, or $0.36 per diluted share, up from $33.7 million, or $0.26, a year earlier and $50.5 million, or $0.34, in the prior quarter. Adjusted diluted EPS was $0.37. Annualized returns on average equity and assets improved to 11.20% and 1.27%, respectively.
Net interest income rose to $146.9 million, as net interest margin expanded to 3.75% from 3.56% a year ago, supported by 16.4% year‑over‑year average loan growth and lower deposit costs. Noninterest income increased to $34.2 million, driven by service charges and trust and other financial services income, while the efficiency ratio improved to 57.6% (56.2% on an adjusted basis).
Credit quality metrics remained strong: annualized net charge‑offs were 0.15%, nonperforming loans were 0.69% of total loans, and the allowance for credit losses covered 162% of nonperforming loans. The board declared a quarterly cash dividend of $0.20 per share, the 127th consecutive dividend, implying an approximate 5.3% yield based on the June 30, 2026 share price. Capital ratios stayed well above well‑capitalized thresholds, with a common equity tier 1 ratio of 12.21% at the holding company.
Northwest Bancshares, Inc. approved a New Award of 125,298 restricted stock units for president and chief executive officer Lou Torchio on July 22, 2026, effective on or about July 31, 2026. The company’s Compensation Committee cites his strong performance, below‑peer historical pay, and a desire to incentivize his service beyond age 65.
The New Award mirrors the vesting and other terms of a prior $2,000,000 restricted stock unit award granted on December 20, 2024, which vests after four years with settlement in two installments and provides for accelerated or pro‑rated vesting upon certain terminations, death, disability, or following a change in control. A portion of the original grant was rescinded in 2025 because it exceeded the $1,000,000 individual grant limit under the 2022 Equity Incentive Plan. Shareholders later approved the 2026 Equity Incentive Plan, which increased the annual individual grant limit to $5,000,000, enabling the New Award that restores rescinded shares and reflects amounts the committee expected to grant in 2025 and 2026.
Northwest Bancshares, Inc. executive Jacques Marc DesMarteau reported a routine tax-related share disposition. On the vesting of a restricted stock unit, 2,160 shares of common stock were withheld at $14.48 per share to cover his tax withholding obligation. Following this non‑market transaction, he directly holds 57,242.076 shares of Northwest Bancshares common stock, and related dividend equivalent rights on his RSUs remain subject to the same terms as the underlying awards.
Northwest Bancshares, Inc. executive Urich T. Bowers reported a routine tax-related share disposition. On the vesting of a restricted stock unit, 1,589 shares of common stock were withheld to cover his tax withholding obligation at a reference price of $14.35 per share. Following this non‑market transaction, he directly holds 43,610.523 shares of Northwest Bancshares common stock.
Northwest Bancshares, Inc. reported that Chief Information Officer Steven Chad Ballard acquired 47,217 shares of Northwest Bancshares common stock as a grant or award. The Form 4 shows no cash paid per share, indicating this is an equity compensation grant rather than an open-market purchase.
Following this transaction, Ballard directly holds 47,217 shares of common stock. A footnote explains that this grant consists of RSU shares, with one third scheduled to vest on June 5, 2027, and additional thirds vesting on June 5, 2028 and June 5, 2029.
Williams Amber Lee reported acquisition or exercise transactions in this Form 4 filing.
Northwest Bancshares, Inc. director Amber Lee Williams received a grant of 4,053 shares of Northwest Bancshares, Inc. Common Stock as a stock award. The award carried a price of $0.00 per share, indicating it was compensation rather than an open-market purchase. Following this grant, she directly owns 13,997.401 common shares. According to the disclosure, this grant of RSA shares will fully vest on June 5, 2027, meaning she earns full ownership of the award over time.
Northwest Bancshares, Inc. director Tullio David M reported an equity compensation grant of 4,053 shares of Northwest Bancshares common stock. The shares were awarded at no cash cost as a restricted stock award and will fully vest on June 5, 2027.
Following this grant, the director holds 34,104 common shares directly and an additional 1,000 shares indirectly listed as held "By Company." This Form 4 reflects a compensation-related acquisition rather than an open-market purchase or sale.
Paup Mark A reported acquisition or exercise transactions in this Form 4 filing.
Northwest Bancshares, Inc. director Mark A. Paup reported an equity grant and updated holdings. He received a grant of 4,053 RSA shares of common stock at a price of $0.0000 per share, which will fully vest on June 5, 2027. Following the grant, he directly owns 66,839.927 shares and indirectly holds 10,802.728 shares through his spouse. An additional line reflects transactions not required to be reported under Section 16 of the Securities Exchange Act of 1934.
Northwest Bancshares, Inc. director John P. Meegan received a grant of 4,053 shares of Northwest Bancshares common stock as a restricted stock award that was acquired at no cash cost. These RSA shares will fully vest on June 5, 2027. Following the grant, he holds 84,654 shares directly and 21,500 shares indirectly through an IRA.
Kranich Charles E. reported acquisition or exercise transactions in this Form 4 filing.
Northwest Bancshares, Inc. director Charles E. Kranich received a grant of 4,053 shares of Northwest Bancshares common stock as a stock award, with no cash paid per share. This restricted stock award will fully vest on June 5, 2027, bringing his direct holdings to 100,386 shares after the grant.