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  4. [8-K] Northwest Bancshares, Inc. Reports Material Event

Northwest Bancshares Q3 profit slips 5.3% to $50.7M

Net interest income reached a reported record, and the board declared a $0.20 quarterly dividend.

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Filing Sentiment

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Form Type
8-K

Rhea-AI Filing Summary

Northwest Bancshares, Inc. (NWBI) reported third-quarter 2026 net income of $50.719 million, or $0.34 per diluted share, compared with $3.167 million a year earlier and $53.546 million in the prior quarter. Net interest income reached a reported record of $148.950 million, up 9.5% year over year; net interest margin was 3.70%, versus 3.65% a year earlier and 3.75% in the prior quarter. Adjusted net income (non-GAAP) was $50.890 million, or $0.35 per diluted share.

Average commercial and industrial loan growth was 31% year over year. Annualized net charge-offs were 0.15%, and nonperforming loans were 0.74% of total loans. Sequentially, net income declined 5.3%; adjusted net income decreased $3 million, primarily as provision for credit losses expense and noninterest expense increased.

The board declared a quarterly cash dividend of $0.20 per share, payable November 17, 2026, to shareholders of record November 5, 2026. This was the company’s 128th consecutive quarter paying a cash dividend.

2 points · 0 major

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0 major · 1 point

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Positive

  • Moderate pointNet income rose from $3.167 million to $50.719 million year over year.
  • Moderate pointNet interest income increased 9.5% year over year.

Negative

  • Moderate pointQuarterly net income declined 5.3% from the prior quarter.

Filing Explained

The October 26, 2026 Form 8-K furnishes the third-quarter results release, which is not deemed filed; it also reports that, as of September 30, 2026, $2,191,841 thousand (15.4% of deposits) was uninsured, excluding intercompany and collateralized accounts.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Net income $50.719 million Quarter ended September 30, 2026; $3.167 million in the prior-year quarter and $53.546 million in the prior quarter
Diluted earnings per share $0.34 per diluted share Quarter ended September 30, 2026; $0.02 a year earlier and $0.36 in the prior quarter
Adjusted net income $50.890 million Non-GAAP, quarter ended September 30, 2026; $40.552 million in the prior-year quarter
Net interest income $148.950 million Quarter ended September 30, 2026; up 9.5% year over year
Average C&I loan growth 31% Year over year
Annualized net charge-offs to average loans 0.15% Quarter ended September 30, 2026
Nonperforming loans to total loans 0.74% As of September 30, 2026
Quarterly cash dividend $0.20 per share Payable November 17, 2026, to shareholders of record November 5, 2026
Net interest margin financial
"net interest margin increased to 3.70%"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
Adjusted net income financial
"Adjusted net income (non-GAAP)"
Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.
Day 1 initial provision financial
"Day 1 initial provision from the Penns Woods acquisition"
Nonperforming loans financial
"nonperforming loans of 0.74%"
Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.
Net income $50.719 million Compared with $3.167 million in the prior-year quarter and $53.546 million in the prior quarter
Diluted earnings per share $0.34 per diluted share Compared with $0.02 in the prior-year quarter and $0.36 in the prior quarter
Adjusted net income (non-GAAP) $50.890 million Compared with $40.552 million in the prior-year quarter
Adjusted diluted earnings per share (non-GAAP) $0.35 per diluted share Compared with $0.29 in the prior-year quarter and $0.37 in the prior quarter
Net interest income $148.950 million Increased 9.5% year over year

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were NWBI’s third-quarter 2026 earnings?
Northwest Bancshares reported $50.719 million of net income, or $0.34 per diluted share, for the quarter ended September 30, 2026. Adjusted net income was $50.890 million, or $0.35 per diluted share.

What dividend did Northwest Bancshares declare?
The board declared a $0.20 per-share quarterly cash dividend, payable November 17, 2026, to shareholders of record November 5, 2026.

How much of NWBI’s deposits were uninsured?
As of September 30, 2026, uninsured deposits excluding intercompany and collateralized accounts were $2,191.841 million, or 15.4% of total deposits. The company noted that uninsured deposit figures may differ from actual amounts due to account titling.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001471265false00014712652026-10-262026-10-26


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  October 26, 2026
 
Northwest Bancshares, Inc.
(Exact name of registrant as specified in its charter)
 
Maryland001-3458227-0950358
(State or other jurisdiction of incorporation)(Commission File No.)(I.R.S. Employer Identification No.)
 
3 Easton Oval Suite 500ColumbusOhio43219
(Address of principal executive office)(Zip code)
 
(814) 726-2140
(Registrant’s telephone number, including area code)  

Not Applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, 0.01 Par ValueNWBINASDAQ Stock Market, LLC

    Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

    Indicate by a check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange act. ☐


Item 2.02                                           Results of Operations and Financial Condition
 
On October 26, 2026, Northwest Bancshares, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2026 (the "Press Release"). The Press Release is being furnished as Exhibit 99.1. The Company also made available its third quarter 2026 supplemental earnings presentation on the "Investor Relations" section of its website. 

The information in the preceding paragraph, as well as Exhibit 99.1 referenced therein, is being furnished to the SEC and shall not be deemed “filed” for any purpose.

Item 9.01                                           Financial Statements and Exhibits
 
(a)                                 Not applicable
 
(b)                                 Not applicable
 
(c)                                  Not applicable
 
(d)                                 Exhibits
 
Exhibit No.Description
99.1
Press release dated October 26, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
NORTHWEST BANCSHARES, INC.
Date:October 26, 2026By:
/s/ Douglas M. Schosser
Douglas M. Schosser
Chief Financial Officer



    EXHIBIT 99.1
 
PRESS RELEASE OF NORTHWEST BANCSHARES, INC.
EARNINGS RELEASE
 
FOR IMMEDIATE RELEASE

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

Record total revenue and net interest income
Adjusted diluted EPS (non-GAAP) of $0.35 per share
31% average C&I loan growth from prior year
Credit quality remained strong with annualized net charge-offs of 0.15% and nonperforming loans of 0.74%

Columbus, Ohio — October 26, 2026 Northwest Bancshares, Inc. (the “Company”) (Nasdaq: NWBI) announced net income for the quarter ended September 30, 2026 of $51 million, or $0.34 per diluted share. This represents an increase of $48 million compared to the same quarter last year, when net income was $3 million, or $0.02 per diluted share, and a decrease of $3 million compared to the prior quarter, when net income was $54 million, or $0.36 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended September 30, 2026 were 10.42% and 1.18% compared to 0.69% and 0.08% for the same quarter last year and 11.20% and 1.27% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended September 30, 2026 was $51 million, or $0.35, per diluted share, which decreased by $3 million from $54 million, or $0.37, per diluted share, in the prior quarter. This decrease was primarily driven by an increase in provision for credit losses expense of $2 million and an increase in noninterest expense of $5 million which were partially offset by an increase in net interest income of $2 million and an increase in noninterest income of $2 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended September 30, 2026 were 10.45% and 1.18% compared to 11.26% and 1.28% 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 November 17, 2026 to shareholders of record as of November 5, 2026. This is the 128th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of September 30, 2026, this represents an annualized dividend yield of approximately 5.4%.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “The Northwest Team delivered yet another quarter of strong performance, with record total revenue and net interest income, and a balanced and consistent performance across the whole bank. We drove 31% year-over-year average loan growth in our C&I business, with continued growth in our national specialty business verticals and middle market portfolio, and benefited from the strength of our retail deposit franchise and low deposit costs, one of the best-in-class among our peers.

We continue to execute our strategy for delivering sustainable, responsible growth, investing in its key drivers, including our people, our communities and the physical infrastructure that make it possible. In the third quarter we opened our first two financial centers in Columbus, added talent in the Columbus market and to our senior leadership team, and maintained our expense management discipline, with an efficiency ratio of 58.9% and adjusted efficiency ratio of 57.8%. We were also recognized in Forbes' World's Top Performing Banks 2026.

We look forward to a strong finish in the fourth quarter of 2026, as we build on the momentum the team is developing in Columbus and across our entire retail footprint and commercial network. Our focus remains on driving excellence across all aspects of the bank, continuing to optimize our operations, and serving our core customers and communities with the personal approach they value.”







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Balance Sheet Highlights

Dollars in thousandsChange 3Q26 vs.
3Q262Q263Q252Q263Q25
Average loans receivable$13,302,278 13,094,235 12,568,497 1.6 %5.8 %
Average investments2,604,899 2,531,603 2,111,928 2.9 %23.3 %
Average deposits14,139,954 14,133,825 13,296,651 — %6.3 %
Average borrowed funds617,533 379,262 347,357 62.8 %77.8 %

Balance sheet highlights compared to the quarter ended September 30, 2025
•Average loans receivable increased $734 million primarily driven by the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition
•Average investments grew $493 million primarily driven by the Penns Woods acquisition and a targeted increase in the overall securities portfolio
•Average deposits grew $843 million primarily driven by an increase in interest-bearing account balances primarily due to the addition of the Penns Woods deposit accounts
•Average borrowings increased $270 million due to average loan and investment growth exceeding the rate of average deposit growth

Balance sheet highlights compared to the quarter ended June 30, 2026
•Average loans receivable increased $208 million driven by growth in our commercial and industrial and consumer loan portfolios offset by a decline in our commercial real estate portfolio
•Average investments grew $73 million due to a targeted increase in the overall securities portfolio
•Average deposits grew $6 million primarily driven by an increase in non-interest bearing and money market deposit account balances partly due to customers shifting funds to these products as their time deposits matured
•Average borrowings increased $238 million for the same reason noted above


Income Statement Highlights

Dollars in thousandsChange 3Q26 vs.
3Q262Q263Q252Q263Q25
Interest income$210,171 205,140 194,678 2.5 %8.0 %
Interest expense61,221 58,202 58,704 5.2 %4.3 %
Net interest income$148,950 146,938 135,974 1.4 %9.5 %
Net interest margin FTE3.70 %3.75 %3.65 %

Compared to the quarter ended September 30, 2025, net interest income increased $13 million and net interest margin increased to 3.70% from 3.65%. This increase in net interest income resulted primarily from the following:

•A $15 million increase in interest income that was the result of:
◦An increase in average interest-earning assets partially driven by the Penns Woods acquisition during the third quarter 2025
◦Yields on average interest-earning assets was 5.22% for both periods with an increase in investment yields offset by a decline in loan yields
•A $3 million increase in interest expense that was the result of :
◦An increase in the average balance of interest-bearing liabilities partially driven by the Penns Woods acquisition
◦Partially offset by a decline in the cost of interest-bearing liabilities to 2.05% from 2.13%

Compared to the quarter ended June 30, 2026, net interest income increased $2 million and net interest margin decreased to 3.70% for the quarter ended September 30, 2026 from 3.75%. This increase in net interest income resulted primarily from the following:

•A $5 million increase in interest income that was driven by:
◦Growth in the average interest-earning balances
◦Yields on average interest-earning assets declined to 5.22% from 5.23% with an increase in investment yields offset by a decline in loan yields which was driven by a decline in the accretion of acquired loan fair value marks coupled with a change in portfolio mix
•A $3 million increase in interest expense driven by:
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◦An increase in the average balance and average cost of interest-bearing liabilities
◦Average cost of interest-bearing deposits increased to 1.85% from 1.83% while average cost of borrowings declined slightly to 3.94% from 3.96%

Dollars in thousandsChange 3Q26 vs.
3Q262Q263Q252Q263Q25
Provision for credit losses - loans$5,220 4,280 31,394 22.0 %(83.4)%
Provision for credit losses - unfunded commitments3,896 2,357 (189)65.3 %2161.4 %
Total provision for credit losses expense$9,116 6,637 31,205 37.4 %(70.8)%
Classified loans$468,968 524,056 527,040 (10.5)%(11.0)%
Classified loans as a percent of total loans3.50 %3.96 %4.07 %

Compared to the quarter ended September 30, 2025:
•Total provision for credit losses decreased $22 million primarily driven by the Day 1 initial provision from the Penns Woods acquisition of $20.6 million
•Classified loans decreased $58 million driven by changes in our commercial real estate portfolio primarily due to the payoff of classified loans during the quarter

Compared to the quarter ended June 30, 2026:
•Total provision for credit losses increased $2 million primarily driven by growth in our commercial lending portfolio, including unfunded commitments
•Classified loans decreased $55 million driven by the same factors discussed above

Dollars in thousandsChange 3Q26 vs.
3Q262Q263Q252Q263Q25
Noninterest income:
Gain on sale of investments$313 336 36 (6.8)%769.4 %
Gain on sale of SBA loans1,081 1,217341(11.2)%217.0 %
Service charges and fees17,935 16,908 16,911 6.1 %6.1 %
Trust and other financial services income10,108 9,449 8,040 7.0 %25.7 %
Gain on real estate owned, net315 20 132 1475.0 %138.6 %
Income from bank-owned life insurance2,222 2,013 1,751 10.4 %26.9 %
Mortgage banking income363 738 1,003 (50.8)%(63.8)%
Other operating income3,590 3,548 3,984 1.2 %(9.9)%
Total noninterest income$35,927 34,229 32,198 5.0 %11.6 %
     
Noninterest income increased $4 million from the quarter ended September 30, 2025 from the following reasons:
•$1 million increase in service charges and fees driven by deposit related fees based on customer activity related to the Penns Woods acquisition
•$2 million increase in trust and other financial services income due to growth in our wealth management business

Noninterest income increased by $2 million from the quarter ended June 30, 2026 from the following reasons:
•$1 million increase in service charges and fees driven by both loan and deposit related fees based on customer activity
•$1 million increase in trust and other financial services income due to growth in our wealth management business


Dollars in thousandsChange 3Q26 vs.
3Q262Q263Q252Q263Q25
Noninterest expense:
Personnel expense$63,931 63,476 63,014 0.7 %1.5 %
Non-personnel expense45,04040,80770,48410.4 %(36.1)%
Total noninterest expense$108,971 104,283 133,498 4.5 %(18.4)%

Noninterest expense decreased $25 million from the quarter ended September 30, 2025 due to the following reasons:
•Personnel expense increased $1 million driven by an increase in core compensation and benefits expense due to the addition of Penns Woods employees
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•Non-personnel expense decreased by $25 million due to a $31 million decrease in merger, asset disposition and restructuring expense. This decrease was partially offset by an increase of $2 million in processing expenses and a $1 million increase in operating expense primarily due to the addition of the Penns Woods branches to our footprint.

Noninterest expense increased $5 million from the quarter ended June 30, 2026 due to the following reasons:
•Non-personnel expense increased by $4 million due to an increase of $3 million in FDIC insurance premium expense, as the prior quarter included a benefit related to prior period assessment rate changes

Dollars in thousandsChange 3Q26 vs.
3Q262Q263Q252Q263Q25
Income before income taxes$66,790 70,247 3,469 (4.9)%1825.3 %
Income tax expense16,07116,701302(3.8)%5221.5 %
Net income$50,719 53,546 3,167 (5.3)%1501.5 %

The provision for income taxes increased by $16 million from the quarter ended September 30, 2025 and decreased $1 million for the quarter ended June 30, 2026 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended September 30, 2025 and decreased from the quarter ended June 30, 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 September 30, 2026, Northwest operated 153 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. The words “believe,” “anticipate,” “estimate,” “expect,” “project,” “target,” “goal” and similar expressions are examples of language 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 regarding our goals, intentions and expectations; statements regarding our financial condition and results of operations, including statements related to our earnings outlook; future dividend payments; our business plans, prospects, growth, customers, investments and operating strategies; 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, assumptions, and other important factors including but not limited to the following: 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; volatility in fuel prices and resulting macroeconomic impacts; 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 and increased risk due to artificial
4

intelligence; 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, geopolitical uncertainty, 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 our Annual Report on Form 10-K for the year ended December 31, 2025, including under the section entitled "Item 1A - Risk Factors," and in subsequent filings made by us with the SEC. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to publicly release any updates or revisions to reflect any change in our expectations with regard to any change in events, conditions or circumstances on which any such statement is based, unless required by law.


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.


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Northwest Bancshares, Inc. and Subsidiaries
Consolidated Statements of Financial Condition (Unaudited)
(dollars in thousands, except per share amounts)
September 30,
2026		June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025
Assets
Cash and cash equivalents$223,310 248,499 286,707 233,647 278,817 
Marketable securities available-for-sale (amortized cost of $1,974,633, $1,972,165, $1,884,060, $1,710,978 and $1,405,959, respectively)
1,751,568 1,829,179 1,746,919 1,586,382 1,270,880 
Marketable securities held-to-maturity (fair value of $518,383, $550,416, $567,470, $605,929 and $618,633, respectively)
612,731 630,802 646,661 683,369 702,392 
Total cash and cash equivalents and marketable securities2,587,609 2,708,480 2,680,287 2,503,398 2,252,089 
Loans held-for-sale8,374 15,391 16,846 22,437 22,297 
Residential mortgage loans2,984,204 3,001,908 3,035,984 3,100,780 3,157,853 
Home equity loans1,496,559 1,497,157 1,495,800 1,507,532 1,520,893 
Consumer loans2,918,083 2,843,058 2,660,567 2,563,890 2,453,805 
Commercial real estate loans2,931,601 2,988,237 3,161,314 3,296,902 3,495,664 
Commercial and industrial loans3,062,849 2,898,867 2,702,283 2,538,212 2,312,718 
Total loans receivable13,393,296 13,229,227 13,055,948 13,007,316 12,940,933 
Allowance for credit losses(149,626)(149,321)(150,045)(150,212)(157,396)
Loans receivable, net13,243,670 13,079,906 12,905,903 12,857,104 12,783,537 
FHLB stock, at cost51,439 43,345 32,781 36,628 33,349 
Accrued interest receivable59,783 57,473 57,221 56,291 55,549 
Real estate owned, net2,772 63 65 76 174 
Premises and equipment, net148,843 144,423 141,477 140,381 139,491 
Bank-owned life insurance294,011 293,354 292,103 294,386 303,115 
Goodwill444,997 444,997 444,330 444,330 438,402 
Other intangible assets, net33,242 35,312 37,478 39,667 47,924 
Other assets435,119 384,395 298,558 371,919 305,082 
Total assets$17,309,859 17,207,139 16,907,049 16,766,617 16,381,009 
Liabilities and shareholders’ equity
Liabilities
Noninterest-bearing demand deposits$3,166,262 3,191,560 3,121,044 3,123,229 3,089,963 
Interest-bearing demand deposits3,041,379 2,916,518 2,937,654 2,995,759 2,898,350 
Money market deposit accounts2,831,245 2,766,675 2,734,781 2,540,818 2,462,979 
Savings deposits2,438,182 2,459,255 2,444,799 2,366,513 2,373,413 
Time deposits2,797,970 2,827,810 2,975,026 2,916,698 2,871,544 
Total deposits14,275,038 14,161,818 14,213,304 13,943,017 13,696,249 
Borrowed funds786,715 612,075 350,884 446,283 368,241 
Subordinated debt— 114,800 114,800 114,800 114,800 
Junior subordinated debentures130,288 130,223 130,158 130,093 130,028 
Advances by borrowers for taxes and insurance20,300 47,400 40,127 37,309 21,840 
Accrued interest payable7,616 8,385 8,585 6,846 10,555 
Other liabilities197,668 205,031 144,884 197,845 183,560 
Total liabilities15,417,625 15,279,732 15,002,742 14,876,193 14,525,273 
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, 146,559,425; 146,396,520; 146,302,025; 146,107,964 and 146,097,057 shares issued and outstanding, respectively
1,466 1,464 1,463 1,461 1,461 
Additional paid-in capital1,277,121 1,274,117 1,271,372 1,270,444 1,268,694 
Retained earnings755,548 734,423 710,351 689,210 672,843 
Accumulated other comprehensive loss(141,901)(82,597)(78,879)(70,691)(87,262)
Total shareholders’ equity1,892,234 1,927,407 1,904,307 1,890,424 1,855,736 
Total liabilities and shareholders’ equity$17,309,859 17,207,139 16,907,049 16,766,617 16,381,009 
Equity to assets10.93 %11.20 %11.26 %11.27 %11.33 %
Tangible common equity to tangible assets*8.40 %8.65 %8.66 %8.64 %8.62 %
Book value per share$12.91 13.17 13.02 12.94 12.70 
Tangible book value per share*$9.65 9.88 9.72 9.63 9.37 
Closing market price per share$14.84 15.16 12.69 12.00 12.39 
Full time equivalent employees2,157 2,183 2,170 2,169 2,190 
Number of banking offices164 162 161 161 161 
*    Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.
6

Northwest Bancshares, Inc. and Subsidiaries
Consolidated Statements of Income (Unaudited)
(dollars in thousands, except per share amounts)
Quarter ended
September 30, 2026June 30,
2026		March 31, 2026December 31, 2025September 30, 2025
Interest income:
Loans receivable$186,750 182,469 180,549 184,047 177,723 
Mortgage-backed securities19,001 18,024 16,999 14,071 12,668 
Taxable investment securities1,990 1,799 1,601 1,324 1,183 
Tax-free investment securities594 674 762 777 752 
FHLB stock dividends1,061 738 768 701 652 
Interest-earning deposits775 1,436 871 1,905 1,700 
Total interest income210,171 205,140 201,550 202,825 194,678 
Interest expense:
Deposits51,298 50,384 51,083 52,947 51,880 
Borrowed funds9,923 7,818 7,985 7,712 6,824 
Total interest expense61,221 58,202 59,068 60,659 58,704 
Net interest income148,950 146,938 142,482 142,166 135,974 
Provision for credit losses - loans5,220 4,280 4,954 5,743 31,394 
Provision for credit losses - unfunded commitments3,896 2,357 (585)1,981 (189)
Net interest income after provision for credit losses139,834 140,301 138,113 134,442 104,769 
Noninterest income:
Gain on sale of investments313 336 11 142 36 
Gain on sale of SBA loans1,081 1,217 1,186 437 341 
Service charges and fees17,935 16,908 17,118 17,377 16,911 
Trust and other financial services income10,108 9,449 8,618 8,416 8,040 
Gain on real estate owned, net315 20 70 148 132 
Income from bank-owned life insurance2,222 2,013 2,042 8,269 1,751 
Mortgage banking income363 738 329 379 1,003 
Other operating income3,590 3,548 3,208 2,609 3,984 
Total noninterest income35,927 34,229 32,582 37,777 32,198 
Noninterest expense:
Compensation and employee benefits63,931 63,476 58,330 65,143 63,014 
Premises and occupancy costs8,943 8,494 9,863 8,170 7,707 
Office operations3,651 3,660 3,875 4,217 3,495 
Collections expense1,109 665 878 856 776 
Processing expenses17,452 16,948 16,806 16,454 15,072 
Marketing expenses2,662 2,362 1,668 1,827 1,932 
Federal deposit insurance premiums3,169 (291)2,895 3,538 3,361 
Professional services3,094 3,490 3,523 3,366 3,010 
Amortization of intangible assets2,070 2,166 2,189 2,257 1,974 
Merger, asset disposition and restructuring expense238 426 631 4,160 31,260 
Other expenses2,652 2,887 3,380 3,533 1,897 
Total noninterest expense108,971 104,283 104,038 113,521 133,498 
Income before income taxes66,790 70,247 66,657 58,698 3,469 
Income tax expense16,071 16,701 16,121 12,985 302 
Net income$50,719 53,546 50,536 45,713 3,167 
Basic earnings per share$0.35 0.37 0.35 0.31 0.02 
Diluted earnings per share$0.34 0.36 0.34 0.31 0.02 
Weighted average common shares outstanding - diluted147,460,563147,127,223146,850,635146,703,966141,175,516
Annualized return on average equity10.42 %11.20 %10.86 %9.70 %0.69 %
Annualized return on average assets1.18 %1.27 %1.22 %1.10 %0.08 %
Annualized return on average tangible common equity*13.86 %14.94 %14.59 %13.10 %0.90 %
Efficiency ratio58.94 %57.56 %59.43 %63.09 %79.38 %
Efficiency ratio, excluding certain items**57.79 %56.24 %57.82 %59.57 %59.63 %
*    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.
7

Northwest Bancshares, Inc. and Subsidiaries
Consolidated Statements of Income (Unaudited)
(dollars in thousands, except per share amounts)
Nine months ended September 30,
20262025
Interest income:
Loans receivable$549,768 497,275 
Mortgage-backed securities54,024 36,552 
Taxable investment securities5,390 3,115 
Tax-free investment securities2,030 1,776 
FHLB stock dividends2,567 1,336 
Interest-earning deposits3,082 6,789 
Total interest income616,861 546,843 
Interest expense:
Deposits152,765 146,031 
Borrowed funds25,726 17,576 
Total interest expense178,491 163,607 
Net interest income438,370 383,236 
Provision for credit losses - loans14,454 51,106 
Provision for credit losses - unfunded commitments5,668 (3,246)
Net interest income after provision for credit losses418,248 335,376 
Noninterest income:
Gain on sale of investments660 36 
Gain on sale of SBA loans3,484 2,398 
Service charges and fees51,961 47,695 
Trust and other financial services income28,175 23,898 
Gain on real estate owned, net405 474 
Income from bank-owned life insurance6,277 4,503 
Mortgage banking income1,430 2,774 
Other operating income10,346 9,713 
Total noninterest income102,738 91,491 
Noninterest expense:
Compensation and employee benefits185,737 172,767 
Premises and occupancy costs27,300 23,229 
Office operations11,186 9,382 
Collections expense2,652 1,942 
Processing expenses51,206 42,035 
Marketing expenses6,692 6,830 
Federal deposit insurance premiums5,773 7,985 
Professional services10,107 9,756 
Amortization of intangible assets6,425 2,914 
Merger, asset disposition and restructuring expense1,295 38,627 
Other expenses8,919 7,308 
Total noninterest expense317,292 322,775 
Income before income taxes203,694 104,092 
Income tax expense48,893 23,792 
Net income$154,801 80,300 
Basic earnings per share$1.06 0.61 
Diluted earnings per share$1.05 0.61 
Weighted average common shares outstanding - diluted147,161,720 132,700,517 
Annualized return on average equity10.82 %6.36 %
Annualized return on average assets1.22 %0.72 %
Annualized return on tangible common equity*14.46 %8.29 %
Efficiency ratio58.64 %67.99 %
Efficiency ratio, excluding certain items**57.28 %59.25 %
*    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.
8

Northwest Bancshares, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures (Unaudited) *
(dollars in thousands, except per share amounts)
Quarter endedNine months ended September 30,
September 30, 2026June 30,
2026		September 30, 202520262025
Reconciliation of net income to adjusted net income:
Net income (GAAP)$50,719 53,546 3,167 154,801 80,300 
Non-GAAP adjustments
Add: merger, asset disposition and restructuring expense238 426 31,260 1,295 38,627 
Add: CECL Day 1 non-PCD and unfunded provision expense — — 20,664 — 20,664 
Less: tax benefit of non-GAAP adjustments(67)(119)(14,539)(363)(16,601)
Adjusted net income (non-GAAP)$50,890 53,853 40,552 155,733 122,990 
Diluted earnings per share (GAAP)$0.34 0.36 0.02 1.05 0.61 
Diluted adjusted earnings per share (non-GAAP)$0.35 0.37 0.29 1.06 0.93 
Average equity$1,931,345 1,918,135 1,809,395 1,912,567 1,688,030 
Average assets17,122,498 16,863,639 15,942,440 16,940,700 14,943,347 
Annualized return on average equity (GAAP)10.42 %11.20 %0.69 %10.82 %6.36 %
Annualized return on average assets (GAAP)1.18 %1.27 %0.08 %1.22 %0.72 %
Annualized return on average equity, excluding merger, asset disposition and restructuring expense and CECL Day 1 non-PCD and unfunded provision expense, net of tax (non-GAAP)10.45 %11.26 %8.89 %10.89 %9.74 %
Annualized return on average assets, excluding merger, asset disposition and restructuring expense and CECL Day 1 non-PCD and unfunded provision expense, net of tax (non-GAAP)1.18 %1.28 %1.01 %1.23 %1.10 %
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.
September 30,
2026		June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025
Tangible common equity to assets
Total shareholders’ equity$1,892,234 1,927,407 1,904,307 1,890,424 1,855,736 
  Less: goodwill and intangible assets(478,239)(480,309)(481,808)(483,997)(486,326)
Tangible common equity$1,413,995 1,447,098 1,422,499 1,406,427 1,369,410 
Total assets$17,309,859 17,207,139 16,907,049 16,766,617 16,381,009 
Less: goodwill and intangible assets(478,239)(480,309)(481,808)(483,997)(486,326)
  Tangible assets$16,831,620 16,726,830 16,425,241 16,282,620 15,894,683 
Tangible common equity to tangible assets8.40 %8.65 %8.66 %8.64 %8.62 %
Tangible book value per share
Tangible common equity$1,413,995 1,447,098 1,422,499 1,406,427 1,369,410 
Common shares outstanding146,559,425 146,396,520 146,302,025 146,107,964 146,097,057 
Tangible book value per share9.65 9.88 9.72 9.63 9.37 
9

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 endedNine months ended September 30,
September 30,
2026		June 30,
2026		March 31,
2026		December 31, 2025September 30,
2025		20262025
Annualized return on average tangible common equity
Net income$50,719 53,546 50,536 45,713 3,167 154,801 80,300 
Average shareholders’ equity1,931,345 1,918,135 1,887,742 1,870,088 1,809,395 1,912,567 1,688,030 
Less: average goodwill and intangible assets(479,590)(481,022)(483,240)(485,252)(409,875)(481,271)(392,321)
Average tangible common equity$1,451,755 1,437,113 1,404,502 1,384,836 1,399,520 1,431,296 1,295,709 
Annualized return on average tangible common equity13.86 %14.94 %14.59 %13.10 %0.90 %14.46 %8.29 %
Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses
Noninterest expense$108,971 104,283 104,038 113,521 133,498 317,292 322,775 
Less: amortization expense(2,070)(2,166)(2,189)(2,257)(1,974)(6,425)(2,914)
Less: merger, asset disposition and restructuring expenses(238)(426)(631)(4,160)(31,260)(1,295)(38,627)
Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses$106,663 101,691 101,218 107,104 100,264 309,572 281,234 
Net interest income$148,950 146,938 142,482 142,166 135,974 438,370 383,236 
Noninterest income35,927 34,229 32,582 37,777 32,198 102,738 91,491 
  Less: gain on the sale of investments(313)(336)(11)(142)(36)(660)(36)
Net interest income plus noninterest income, excluding gain on sale of investments $184,564 180,831 175,053 179,801 168,136 540,448 474,691 
Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses57.79 %56.24 %57.82 %59.57 %59.63 %57.28 %59.25 %
*    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.
10

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 September 30, 2026
BalancePercent of
total deposits		Number of
relationships
Uninsured deposits per the Call Report (1)$4,084,262 28.6 %6,330 
Less intercompany deposit accounts1,445,562 10.1 %12 
Less collateralized deposit accounts446,859 3.1 %253 
Uninsured deposits excluding intercompany and collateralized accounts$2,191,841 15.4 %6,065
(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 $236 million, or 1.7% of total deposits, as of September 30, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $443 million, or 3.1% of total deposits, as of September 30, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $361,392 as of September 30, 2026.

The following table provides additional details for the Company’s deposit portfolio:
As of September 30, 2026
BalancePercent of
total deposits		Number of
accounts
Personal noninterest-bearing demand deposits$1,729,843 12.1 %311,740 
Business noninterest-bearing demand deposits1,436,419 10.1 %47,697 
Personal interest-bearing demand deposits1,361,249 9.5 %53,980 
Business interest-bearing demand deposits1,680,13011.8 %8,690 
Personal money market deposits1,818,126 12.7 %28,796 
Business money market deposits1,013,119 7.1 %3,180 
Savings deposits2,438,182 17.1 %187,586 
Time deposits2,797,970 19.6 %74,195 
Total deposits $14,275,038 100.0 %715,864

Our average deposit account balance as of September 30, 2026 was $19,941. The Company’s insured cash sweep deposit balance was $827 million as of September 30, 2026.



11

Northwest Bancshares, Inc. and Subsidiaries
Regulatory Capital Requirements (Unaudited)
(dollars in thousands)
At September 30, 2026
Actual (1)Minimum capital
requirements (2)		Well capitalized
requirements 
AmountRatioAmountRatioAmountRatio
Total capital (to risk weighted assets)
Northwest Bancshares, Inc.$1,872,875 14.39 %$1,366,301 10.50 %$1,301,239 10.00 %
Northwest Bank1,730,470 13.34 %1,361,617 10.50 %1,296,778 10.00 %
Tier 1 capital (to risk weighted assets)
Northwest Bancshares, Inc.1,583,750 12.17 %1,106,053 8.50 %780,744 6.00 %
Northwest Bank1,568,195 12.09 %1,102,262 8.50 %1,037,423 8.00 %
Common equity tier 1 capital (to risk weighted assets)
Northwest Bancshares, Inc.1,583,750 12.17 %910,868 7.00 %N/AN/A
Northwest Bank1,568,195 12.09 %907,745 7.00 %842,906 6.50 %
Tier 1 capital (leverage) (to average assets)
Northwest Bancshares, Inc.1,583,750 9.40 %674,178 4.00 %N/AN/A
Northwest Bank1,568,195 9.31 %673,786 4.00 %842,232 5.00 %
(1)     September 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.

12

Northwest Bancshares, Inc. and Subsidiaries
Marketable Securities (Unaudited)
(dollars in thousands)
September 30, 2026
Marketable securities available-for-saleAmortized costGross unrealized
holding gains		Gross unrealized
holding losses		Fair valueWeighted average duration
   Debt issued by the U.S. government and agencies:
Due after ten years$39,019 — (8,492)30,527 5.71 
   Municipal securities:
   Due in one year or less3,578 — (28)3,550 0.65 
Due after one year through five years3,299 — (101)3,198 3.05 
Due after five years through ten years21,308 — (2,707)18,601 6.48 
Due after ten years47,057 87 (10,475)36,669 9.73 
   Corporate debt issues:
Due after one year through five years16,276 107 (367)16,016 3.31 
   Due after five years through ten years84,266 856 (1,909)83,213 6.05 
Due after ten years12,000 19 — 12,019 4.33 
   Mortgage-backed agency securities:
   Fixed rate pass-through516,430 — (39,526)476,904 7.57 
   Variable rate pass-through344 2 — 346 2.67 
   Fixed rate agency CMBS625,167 — (106,348)518,819 3.65 
   Variable rate agency CMBS6,248 — (6)6,242 2.22 
   Fixed rate agency CMOs571,932 10 (54,214)517,728 5.03 
   Variable rate agency CMOs27,709 34 (7)27,736 6.52 
   Total mortgage-backed agency securities1,747,830 46 (200,101)1,547,775 5.36 
   Total marketable securities available-for-sale$1,974,633 1,115 (224,180)1,751,568 5.47 
Marketable securities held-to-maturity
Government sponsored:
Due after one year through five years$107,991 — (9,180)98,811 2.25 
   Mortgage-backed agency securities:
   Fixed rate pass-through87,879 — (12,431)75,448 3.70 
   Variable rate pass-through280 — — 280 3.66 
   Fixed rate agency CMBS70,093 — (14,157)55,936 3.40 
   Fixed rate agency CMOs345,960 — (58,577)287,383 5.17 
   Variable rate agency CMOs528 — (3)525 3.42 
   Total mortgage-backed agency securities504,740 — (85,168)419,572 4.67 
   Total marketable securities held-to-maturity$612,731 — (94,348)518,383 4.24 

13

Northwest Bancshares, Inc. and Subsidiaries
Asset Quality (Unaudited)
(dollars in thousands)
September 30,
2026		June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025
Nonaccrual loans:
Residential mortgage loans$12,508 11,766 10,500 12,247 11,497 
Home equity loans6,245 5,370 4,780 3,755 6,979 
Consumer loans5,080 4,791 5,732 5,711 5,898 
Commercial real estate loans40,348 47,440 47,337 57,485 82,580 
Commercial and industrial loans34,506 21,984 22,594 28,085 21,371 
Total nonaccrual loans98,687 91,351 90,943 107,283 128,325 
Loans 90 days past due and still accruing484 573 543 646 701 
Nonperforming loans99,171 91,924 91,486 107,929 129,026 
Real estate owned, net2,772 63 65 76 174 
Nonperforming assets$101,943 91,987 91,551 108,005 129,200 
Nonperforming loans to total loans0.74 %0.69 %0.70 %0.83 %1.00 %
Nonperforming assets to total assets0.59 %0.53 %0.54 %0.64 %0.79 %
Allowance for credit losses to total loans1.12 %1.13 %1.15 %1.15 %1.22 %
Allowance for credit losses to nonperforming loans150.88 %162.44 %164.01 %139.18 %121.99 %

14

Northwest Bancshares, Inc. and Subsidiaries
Loans by Credit Quality Indicators (Unaudited)
(dollars in thousands)
At September 30, 2026PassSpecial mention *Substandard **DoubtfulLossLoans
receivable
Personal Banking:
Residential mortgage loans$2,971,697 — 12,507 — — 2,984,204 
Home equity loans1,490,313 — 6,246 — — 1,496,559 
Consumer loans2,912,520 — 5,563 — — 2,918,083 
Total Personal Banking7,374,530 — 24,316 — — 7,398,846 
Commercial Banking:
Commercial real estate loans2,438,398 148,563 344,640 — — 2,931,601 
Commercial and industrial loans2,915,066 47,771 98,674 1,338 — 3,062,849 
Total Commercial Banking5,353,464 196,334 443,314 1,338 — 5,994,450 
Total loans$12,727,994 196,334 467,630 1,338 — 13,393,296 
At June 30, 2026
Personal Banking:
Residential mortgage loans$2,990,142 — 11,766 — — 3,001,908 
Home equity loans1,491,787 — 5,370 — — 1,497,157 
Consumer loans2,837,791 — 5,267 — — 2,843,058 
Total Personal Banking7,319,720 — 22,403 — — 7,342,123 
Commercial Banking:
Commercial real estate loans2,443,890 152,441 391,906 — — 2,988,237 
Commercial and industrial loans2,742,819 46,301 109,747 — — 2,898,867 
Total Commercial Banking5,186,709 198,742 501,653 — — 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 loans1,491,020 — 4,780 — — 1,495,800 
Consumer loans2,654,310 — 6,257 — — 2,660,567 
Total Personal Banking7,170,815 — 21,536 — — 7,192,351 
Commercial Banking:
Commercial real estate loans2,651,304 147,384 362,626 — — 3,161,314 
Commercial and industrial loans2,543,444 45,383 113,456 — — 2,702,283 
Total Commercial Banking5,194,748 192,767 476,082 — — 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 loans1,503,777 — 3,755 — — 1,507,532 
Consumer loans2,557,577 — 6,313 — — 2,563,890 
Total Personal Banking7,149,887 — 22,315 — — 7,172,202 
Commercial Banking:
Commercial real estate loans2,817,802 131,589 347,511 — — 3,296,902 
Commercial and industrial loans2,392,830 61,852 83,530 — — 2,538,212 
Total Commercial Banking5,210,632 193,441 431,041 — — 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 loans1,513,914 — 6,979 — — 1,520,893 
Consumer loans2,447,208 — 6,597 — — 2,453,805 
Total Personal Banking7,107,477 — 25,074 — — 7,132,551 
Commercial Banking:
Commercial real estate loans2,912,166 171,005 412,493 — — 3,495,664 
Commercial and industrial loans2,141,236 82,009 89,473 — — 2,312,718 
Total Commercial Banking5,053,402 253,014 501,966 — — 5,808,382 
Total loans$12,160,879 253,014 527,040 — — 12,940,933 
*    Includes $67.2 million, $79.1 million, $85.6 million, $38.2 million, and $41.0 million of acquired loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.
**    Includes $177.5 million, $163.0 million, $100.4 million, $93.2 million, and $96.9 million of acquired loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.
15

Northwest Bancshares, Inc. and Subsidiaries
Loan Delinquency (Unaudited)
(dollars in thousands)
September 30, 2026*June 30, 2026*March 31, 2026*December 31, 2025*September 30, 2025*
Loans delinquent 30 days to 59 days:
Residential mortgage loans$1,233 — %$1,140 — %$44,502 1.5 %$41,180 1.3 %$1,639 0.1 %
Home equity loans6,535 0.4 %6,611 0.4 %5,932 0.4 %6,488 0.4 %4,644 0.3 %
Consumer loans13,411 0.5 %11,812 0.4 %10,429 0.4 %14,063 0.5 %12,257 0.5 %
Commercial real estate loans6,457 0.2 %4,370 0.1 %17,541 0.6 %28,645 0.9 %14,600 0.4 %
Commercial and industrial loans1,297 — %2,844 0.1 %7,127 0.3 %5,657 0.2 %9,974 0.4 %
Total loans delinquent 30 days to 59 days$28,933 0.2 %$26,777 0.2 %$85,531 0.7 %$96,033 0.7 %$43,114 0.3 %
Loans delinquent 60 days to 89 days:
Residential mortgage loans$5,830 0.2 %$7,468 0.2 %$2,531 0.1 %$10,934 0.4 %$7,917 0.3 %
Home equity loans1,603 0.1 %2,116 0.1 %2,946 0.2 %2,316 0.2 %2,671 0.2 %
Consumer loans4,478 0.2 %3,508 0.1 %4,264 0.2 %4,599 0.2 %3,691 0.2 %
Commercial real estate loans5,416 0.2 %3,208 0.1 %25,859 0.8 %12,941 0.4 %1,575 — %
Commercial and industrial loans22,661 0.7 %5,837 0.2 %8,432 0.3 %2,899 0.1 %1,915 0.1 %
Total loans delinquent 60 days to 89 days$39,988 0.3 %$22,137 0.2 %$44,032 0.3 %$33,689 0.3 %$17,769 0.1 %
Loans delinquent 90 days or more:
Residential mortgage loans$10,901 0.4 %$10,671 0.4 %$6,468 0.2 %$10,001 0.3 %$9,427 0.3 %
Home equity loans5,014 0.3 %4,343 0.3 %3,263 0.2 %2,492 0.2 %2,963 0.2 %
Consumer loans4,224 0.1 %4,038 0.1 %4,561 0.2 %4,893 0.2 %4,865 0.2 %
Commercial real estate loans15,944 0.5 %29,840 1.0 %18,282 0.6 %32,745 1.0 %56,453 1.6 %
Commercial and industrial loans11,945 0.4 %15,659 0.5 %11,266 0.4 %16,269 0.6 %9,490 0.4 %
Total loans delinquent 90 days or more$48,028 0.4 %$64,551 0.5 %$43,840 0.3 %$66,400 0.5 %$83,198 0.6 %
Total loans delinquent$116,949 0.9 %$113,465 0.9 %$173,403 1.3 %$196,122 1.5 %$144,081 1.1 %
*    Represents delinquency, in dollars, divided by the respective total amount of that type of loan outstanding.

16

Northwest Bancshares, Inc. and Subsidiaries
Allowance for Credit Losses (Unaudited)
(dollars in thousands)
Quarter ended
September 30,
2026		June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025
Beginning balance$149,321 150,045 150,212 157,396 129,159 
Initial allowance on loans purchased with credit deterioration— — — — 6,029 
Provision5,220 4,280 4,954 5,743 31,394 
Charge-offs residential mortgage(617)(465)(1,001)(228)(137)
Charge-offs home equity(199)(383)(291)(558)(336)
Charge-offs consumer(3,543)(4,121)(4,531)(4,139)(3,994)
Charge-offs commercial real estate(1,694)(889)(254)(9,765)(4,312)
Charge-offs commercial and industrial(1,565)(945)(1,155)(532)(2,395)
Recoveries2,703 1,799 2,111 2,295 1,988 
Ending balance$149,626 149,321 150,045 150,212 157,396 
Net charge-offs to average loans, annualized0.15 %0.15 %0.16 %0.40 %0.29 %


Nine months ended September 30,
20262025
Beginning balance$150,212 116,819 
Initial allowance on loans purchased with credit deterioration— 6,029 
Provision14,454 51,106 
Charge-offs residential mortgage(2,083)(998)
Charge-offs home equity(873)(1,022)
Charge-offs consumer(12,195)(11,130)
Charge-offs commercial real estate(2,837)(4,721)
Charge-offs commercial and industrial(3,665)(6,563)
Recoveries6,613 7,876 
Ending balance$149,626 157,396 
Net charge-offs to average loans, annualized0.15 %0.19 %



17

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 
September 30, 2026June 30, 2026March 31, 2026December 31, 2025September 30, 2025
Average
balance		InterestAvg. yield/ costAverage
balance		InterestAvg.
yield/
cost		Average
balance		InterestAvg.
yield/
cost 		Average
balance		InterestAvg.
yield/
cost		Average
balance		InterestAvg.
yield/
cost
Assets:
Interest-earning assets:
Residential mortgage loans$3,003,745 30,494 4.06 %$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 %
Home equity loans1,490,806 22,127 5.89 %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 %
Consumer loans2,798,690 38,147 5.41 %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 %
Commercial real estate loans3,028,012 47,304 6.11 %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 %
Commercial and industrial loans2,981,025 49,361 6.48 %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 %
Total loans receivable (a) (b) (d)13,302,278 187,433 5.59 %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 %
Mortgage-backed securities (c)2,301,769 19,001 3.30 %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 %
Investment securities (c) (d)303,130 2,741 3.62 %299,068 2,652 3.55 %317,996 2,566 3.23 %309,147 2,339 3.03 %301,719 2,153 2.85 %
FHLB stock, at cost44,956 1,061 9.36 %34,416 738 8.60 %36,220 768 8.59 %32,876 701 8.46 %30,434 652 8.51 %
Other interest-earning deposits93,723 775 3.24 %141,898 1,436 4.00 %139,970 871 2.49 %170,370 1,905 4.37 %164,131 1,700 4.05 %
Total interest-earning assets16,045,856 211,011 5.22 %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 %
Noninterest-earning assets (e)1,076,642 1,061,487 1,105,758 1,107,042 1,067,450 
Total assets$17,122,498 $16,863,639 $16,832,777 $16,494,008 $15,942,440 
Liabilities and shareholders’ equity:
Interest-bearing liabilities:
Savings deposits$2,447,880 6,918 1.12 %$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 %
Interest-bearing demand deposit2,960,536 8,505 1.14 %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 %
Money market deposit accounts2,802,942 13,828 1.96 %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 %
Time deposits2,799,072 22,047 3.12 %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 %
Total interest-bearing deposits (g)11,010,430 51,298 1.85 %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 %
Borrowed funds (f)617,533 6,128 3.94 %379,262 3,740 3.96 %404,547 3,875 3.88 %354,894 3,425 3.83 %347,357 3,366 3.84 %
Subordinated debt94,835 1,862 7.68 %114,800 2,200 7.58 %114,800 2,204 7.68 %114,800 2,285 7.79 %114,745 1,335 4.65 %
Junior subordinated debentures130,245 1,933 5.81 %130,181 1,878 5.70 %130,121 1,906 5.86 %130,051 2,002 6.02 %129,986 2,123 6.39 %
Total interest-bearing liabilities11,853,043 61,221 2.05 %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 %
Noninterest-bearing demand deposits (g)3,129,524 3,101,574 3,074,939 3,105,108 2,959,871 
Noninterest-bearing liabilities208,586 187,436 248,832 252,960 244,306 
Total liabilities15,191,153 14,945,504 14,945,035 14,623,920 14,133,045 
Shareholders’ equity1,931,345 1,918,135 1,887,742 1,870,088 1,809,395 
Total liabilities and shareholders’ equity$17,122,498 $16,863,639 $16,832,777 $16,494,008 $15,942,440 
Net interest income/Interest rate spread FTE149,790 3.17 %147,773 3.23 %143,348 3.16 %143,201 3.12 %136,944 3.09 %
Net interest-earning assets/Net interest margin FTE$4,192,813 3.70 %$4,145,658 3.75 %$4,105,755 3.70 %$4,121,114 3.69 %$3,946,122 3.65 %
Tax equivalent adjustment (d)840 835 866 1,035 970 
Net interest income, GAAP basis148,950 146,938 142,482 142,166 135,974 
Ratio of interest-earning assets to interest-bearing liabilities1.35X1.36X1.35X1.37X1.36X
(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 1.44%, 1.43%, 1.48%, 1.53%, and 1.55%, respectively.
18

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.
Nine months ended September 30,
20262025
Average
balance		InterestAvg.
yield/cost		Average
balance		InterestAvg.
yield/cost
Assets
Interest-earning assets:
Residential mortgage loans$3,037,212 91,308 4.01 %$3,135,705 91,758 3.90 %
Home equity loans1,495,315 65,437 5.85 %1,236,733 53,509 5.78 %
Consumer loans2,663,316 108,481 5.45 %2,118,568 87,650 5.53 %
Commercial real estate loans3,166,082 147,933 6.16 %3,033,193 151,726 6.60 %
Commercial loans2,798,992 138,610 6.53 %2,145,555 114,818 7.06 %
Loans receivable (a) (b) (d)13,160,917 551,769 5.61 %11,669,754 499,461 5.72 %
Mortgage-backed securities (c)2,228,326 54,024 3.23 %1,791,479 36,552 2.72 %
Investment securities (c) (d)306,677 7,960 3.46 %277,338 5,420 2.61 %
FHLB stock, at cost38,563 2,567 8.90 %23,080 1,336 7.74 %
Other interest-earning deposits125,197 3,082 3.25 %209,320 6,789 4.28 %
Total interest-earning assets15,859,680 619,402 5.22 %13,970,971 549,558 5.26 %
Noninterest-earning assets (e)1,081,020 972,376 
Total assets$16,940,700 $14,943,347 
Liabilities and shareholders’ equity
Interest-bearing liabilities:
Savings deposits$2,430,620 19,521 1.07 %$2,250,418 19,653 1.17 %
Interest-bearing demand deposits2,977,822 25,667 1.15 %2,662,521 22,513 1.13 %
Money market deposit accounts2,714,331 38,680 1.91 %2,200,063 30,748 1.87 %
Time deposits2,882,195 68,897 3.20 %2,683,081 73,117 3.64 %
Total interest-bearing deposits (g)11,004,968 152,765 1.86 %9,796,083 146,031 1.99 %
Borrowed funds (f)467,894 13,744 3.93 %260,392 7,618 3.91 %
Subordinated debt108,072 6,266 7.65 %114,661 3,631 4.22 %
Junior subordinated debentures130,183 5,716 5.79 %129,922 6,327 6.42 %
Total interest-bearing liabilities11,711,117 178,491 2.04 %10,301,058 163,607 2.12 %
Noninterest-bearing demand deposits (g)3,102,212 2,721,350 
Noninterest-bearing liabilities214,804 232,909 
Total liabilities15,028,133 13,255,317 
Shareholders’ equity1,912,567 1,688,030 
Total liabilities and shareholders’ equity$16,940,700 $14,943,347 
Net interest income/Interest rate spread440,911 3.18 %385,951 3.14 %
Net interest-earning assets/Net interest margin$4,148,563 3.72 %$3,669,913 3.69 %
Tax equivalent adjustment (d)2,541 2,715 
Net interest income, GAAP basis438,370 383,236 
Ratio of interest-earning assets to interest-bearing liabilities1.35X1.36X
(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 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 1.56%, respectively.
19

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