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Record Q1 2026 profit, dividend and $50M buyback at Northwest Bancshares (NASDAQ: NWBI)

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Northwest Bancshares, Inc. reported strong first quarter 2026 results, highlighted by GAAP net income of $51 million, or $0.34 per diluted share, up from $43.5 million a year earlier. Adjusted net income was also $51 million, or $0.35 per diluted share, reflecting lower adjusted noninterest expense and a reduced credit loss provision.

Net interest income rose to $142.5 million with a net interest margin of 3.70%, supported by 28% year-over-year growth in average commercial and industrial loans and solid deposit growth. Credit quality remained favorable, with annualized net charge-offs of 0.16% and nonperforming assets at 0.54% of total assets.

The board declared a quarterly cash dividend of $0.20 per share, representing a roughly 6.3% annualized yield based on the March 31, 2026 share price and marking the 126th consecutive quarterly dividend. The board also authorized a new $50 million share repurchase program over the next 24 months, replacing the prior authorization, while regulatory capital ratios remained comfortably above well-capitalized thresholds.

Positive

  • Record profitability and higher earnings: Q1 2026 GAAP net income reached $50.5–$51 million, up about 16% year-over-year, with net interest income and adjusted returns on equity and assets improving versus the prior quarter.
  • Capital return through dividend and buybacks: The board declared a $0.20 per share quarterly dividend (roughly 6.3% annualized yield) and approved a new $50 million share repurchase program over 24 months, signaling confidence in capital strength.
  • Solid credit and capital profile: Annualized net charge-offs were only 0.16%, nonperforming assets were 0.54% of total assets, and common equity tier 1 capital stood at 12.24%, comfortably above well-capitalized regulatory thresholds.

Negative

  • None.

Insights

Record earnings, solid credit quality, and new capital returns highlight a strong Q1 2026.

Northwest Bancshares delivered net income of $51 million, a 16.3% year‑over‑year increase, with diluted EPS steady at $0.34. Net interest margin of 3.70% and 28% average commercial and industrial loan growth show the balance sheet is expanding while still earning attractive spreads.

Credit costs were contained: the total provision for credit losses fell to $4.4 million, annualized net charge‑offs were just 0.16%, and nonperforming assets were 0.54% of total assets. Classified loans rose versus last year, largely tied to the Penns Woods acquisition, but reserves cover more than 160% of nonperforming loans.

Capital remains strong with a common equity tier 1 ratio of 12.24% at the holding company. Management is returning capital through a $0.20 quarterly dividend, its 126th consecutive, and a new $50 million share repurchase authorization. Subsequent quarters will show how loan growth, funding costs, and credit trends evolve within this expanded franchise.

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, and exhibit attachments filed with this report.
Net income Q1 2026 $50.5M Quarter ended March 31, 2026
Diluted EPS Q1 2026 $0.34/share Quarter ended March 31, 2026
Adjusted diluted EPS $0.35/share Non-GAAP, quarter ended March 31, 2026
Net interest margin 3.70% Quarter ended March 31, 2026
Average loans receivable $13.08B Average balance Q1 2026
Quarterly dividend $0.20/share Declared for payment May 20, 2026
Share repurchase authorization $50M New program over next 24 months
CET1 capital ratio 12.24% Northwest Bancshares, Inc., March 31, 2026
net interest margin financial
"Net interest margin continues to expand 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.
efficiency ratio financial
"our expense management discipline led to a 59.4% efficiency ratio, which was 57.8% on an adjusted basis"
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
tangible common equity financial
"Tangible common equity to tangible assets* | 8.66 %"
Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.
uninsured deposits financial
"The following table provides details regarding the Company’s uninsured deposits portfolio"
Uninsured deposits are customer funds held at a bank that exceed the amount protected by a government-backed deposit insurance program, meaning they would not be automatically reimbursed if the bank fails. For investors, the level of uninsured deposits signals how vulnerable a bank is to sudden withdrawals and depositor losses—high uninsured exposure can increase liquidity risk, contagion concerns, and potential losses for creditors and equity holders.
nonperforming loans financial
"Nonperforming loans to total loans | 0.70 %"
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.
capital conservation buffer regulatory
"Amounts and ratios include the capital conservation buffer of 2.5%"
A capital conservation buffer is an extra layer of a bank's own money held above minimum capital rules so the bank can absorb losses and keep lending during tough times. Think of it like an emergency savings account for a bank: it lowers the chance of sudden dividend cuts, forced stock sales, or government support, and therefore affects investor views of a bank’s safety, earnings stability and valuation.
Net income $50.5M +16.3% YoY
Diluted EPS $0.34 flat YoY
Net interest income $142.5M +11.5% YoY
Net interest margin 3.70% -0.17 pts YoY
Annualized ROA 1.22% unchanged YoY
Annualized ROE 10.86% -0.04 pts YoY
Understanding 8-K Material Events →
0001471265false00014712652026-04-272026-04-27


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):  April 27, 2026
 
Northwest Bancshares, Inc.
(Exact name of registrant as specified in its charter)
 
Maryland 001-34582 27-0950358
(State or other jurisdiction of incorporation) (Commission File No.) (I.R.S. Employer Identification No.)
 
3 Easton Oval Suite 500ColumbusOhio 43219
(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 April 27, 2026, Northwest Bancshares, Inc. ("the Company") issued a press release announcing its financial results for the quarter ended March 31, 2026 (the "Press Release"). The Press Release is being furnished as Exhibit 99.1. The Company also made available its first 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 April 27, 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:April 27, 2026 By:
/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 First Quarter 2026 GAAP net income of $51 million,
or $0.34 per diluted share

Adjusted net income (non-GAAP) of $51 million, or $0.35 per diluted share
Net interest margin continues to expand to 3.70%
28% average commercial and industrial loan growth from prior year
Credit quality remained strong with annualized net charge-offs of 0.16% and nonperforming assets of 0.70%

Columbus, Ohio — April 27, 2026 Northwest Bancshares, Inc., (the “Company”), (Nasdaq: NWBI) announced net income for the quarter ended March 31, 2026 of $51 million, or $0.34 per diluted share. This represents an increase of $7 million compared to the same quarter last year, when net income was $43 million, or $0.34 per diluted share, and an increase of $5 million compared to the prior quarter, when net income was $46 million, or $0.31 per share. The annualized returns on average shareholders’ equity and average assets for the quarter ended March 31, 2026 were 10.86% and 1.22% compared to 10.90% and 1.22% for the same quarter last year and 9.70% and 1.10% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended March 31, 2026 was $51 million, or $0.35, per diluted share, which increased by $2 million from $49 million, or $0.33, per diluted share, in the prior quarter. This increase was primarily driven by a decrease in adjusted noninterest expense of $6 million and a decrease in provision for credit losses expense of $3 million which were partially offset by a decrease in noninterest income of $5 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended March 31, 2026 were 10.95% and 1.23% compared to 10.33% and 1.17% 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 May 20, 2026 to shareholders of record as of May 7, 2026. This is the 126th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of March 31, 2026, this represents an annualized dividend yield of approximately 6.3%.

In addition, the Board of Directors approved a share repurchase program authorizing the Company to purchase, from time to time, up to an aggregate $50 million of its outstanding common shares over the next 24 months. This new program replaces the prior share repurchase program approved by the Board of Directors on December 13, 2012. Under the share repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws. The timing and amount of share repurchases under the stock repurchase program will depend on several factors, including the Company's stock price performance, ongoing capital planning considerations, general market conditions, and applicable legal and regulatory requirements.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “I am delighted with Northwest’s strong first quarter performance delivering record net income in the Company’s 130-year history, more than 16% year-over-year growth, supported by a balanced and consistent performance across the whole bank. We drove 28% year-over-year loan growth in our C&I business, with disciplined growth in our national specialty business verticals, and our deposit franchise continues as a core strength with our third consecutive quarter of lower deposit costs, one of the best-in-class among our peers. On the cost side, our expense management discipline led to a 59.4% efficiency ratio, which was 57.8% on an adjusted basis (non-GAAP), and our rigorous credit and risk management approach led to a decline in non-performing assets and overall delinquencies this quarter and lower annualized net charge-offs. We achieved these outstanding results while continuing to invest in talent, technology, and new financial centers to support our future growth.”

“We have another year of growth ahead of us, with our first financial centers in the Columbus market on track to open this year, and our team already delivering an impact in the market attracting new talent, customers, and deposits. The growing momentum and continuing transformation at Northwest, coupled with our consistent execution across the organization, gives me great confidence in our ability to capitalize on further opportunities for profitable and sustainable core growth.”

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Balance Sheet Highlights

Dollars in thousandsChange 1Q26 vs.
1Q264Q251Q254Q251Q25
Average loans receivable$13,083,837 12,982,499 11,176,516 0.8 %17.1 %
Average investments2,466,992 2,201,221 2,037,227 12.1 %21.1 %
Average deposits14,046,735 13,771,215 12,088,371 2.0 %16.2 %
Average borrowed funds404,547 354,894 224,122 14.0 %80.5 %

•Average loans receivable increased $1.9 billion from the quarter ended March 31, 2025, primarily driven by the Penns Woods acquisition. Compared to the quarter ended December 31, 2025, average loans receivable increased $101 million driven by growth in our commercial and industrial and consumer loan portfolios.
•Average investments grew $430 million from the quarter ended March 31, 2025 and $266 million from the quarter ended December 31, 2025. The growth in average investments was primarily due to the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition and a targeted increase in the overall securities portfolio.
•Average deposits grew $2.0 billion from the quarter ended March 31, 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 $276 million from the quarter ended December 31, 2025 across all interest-bearing products due to internal growth and the higher use of brokered CDs.
•Average borrowings increased $180 million compared to the quarter end March 31, 2025 due to the acquisition of long term borrowings from Penns Woods. Average borrowings increased $50 million compared to the quarter ended December 31, 2025. The increase in average borrowings is attributable to the addition of short term borrowings to fund loan and securities growth.

Income Statement Highlights

Dollars in thousandsChange 1Q26 vs.
1Q264Q251Q254Q251Q25
Interest income$201,550 202,825 180,595 (0.6)%11.6 %
Interest expense59,068 60,659 52,777 (2.6)%11.9 %
Net interest income$142,482 142,166 127,818 0.2 %11.5 %
Net interest margin3.70 %3.69 %3.87 %

Compared to the quarter ended March 31, 2025, net interest income increased $15 million and net interest margin decreased to 3.70% from 3.87% for the quarter ended March 31, 2025. This increase in net interest income resulted primarily from:

•A $21 million increase in interest income that was the result of higher average yields coupled with 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 declined to 5.62% for the quarter ended March 31, 2026 from 6.00% for the quarter ended March 31, 2025, which included an interest recovery of $13.1 million on a non-accrual commercial loan payoff during the quarter ended March 31, 2025. Excluding this interest recovery, the yield on loans for the quarter ended March 31, 2025 was 5.52%. The increase in yield, excluding the recovery, 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 2.06% for the quarter ended March 31, 2026 from 2.15% for the quarter ended March 31, 2025.

Compared to the quarter ended December 31, 2025, net interest income increased slightly and net interest margin increased to 3.70% for the quarter ended March 31, 2026 from 3.69%. This increase in net interest income resulted from the following:

•A $1 million decrease 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 offset by a decrease in loan yields. The average yield on loans decreased to 5.62% from 5.65% and average investment yields increased to 3.17% from 2.98% for the quarter ended December 31, 2025. 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 the impact of the fourth quarter 2025 rate cuts.
2

•A $2 million decrease in interest expense driven by lower interest expense on deposits which was partially offset by an increase in interest expense on borrowings. Average cost of interest-bearing deposits declined compared to the prior quarter to 1.89% from 1.97% for the quarter ended December 31, 2025 while average cost of borrowings increased to 3.88% from 3.83% for the quarter ended December 31, 2025.

Dollars in thousandsChange 1Q26 vs.
1Q264Q251Q254Q251Q25
Provision for credit losses - loans$4,954 5,743 8,256 (13.7)%(40.0)%
Provision for credit losses - unfunded commitments(585)1,981 (345)(129.5)%69.6 %
Total provision for credit losses expense$4,369 7,724 7,911 (43.4)%(44.8)%

The total provision for credit losses for the quarter ended March 31, 2026 was $4 million primarily driven by growth in our commercial lending portfolio and increased uncertainty in the economic outlook. Total provision for credit losses for the quarter ended December 31, 2025 was $8 million driven by growth in our commercial lending portfolio and net charge-offs in the period.

The Company saw an increase in classified loans to $498 million, or 3.81% of total loans, at March 31, 2026 from $279 million, or 2.49% of total loans, at March 31, 2025 and $453 million, or 3.49% of total loans, at December 31, 2025. The increase from the prior quarter was driven by changes in our commercial portfolio which increased $30 million. The increase from the prior year was primarily due to classified loans acquired in the Penns Woods acquisition.

Dollars in thousandsChange 1Q26 vs.
1Q264Q251Q254Q251Q25
Noninterest income:
Gain on sale of investments$11 142 — (92.3)%NA
Gain on sale of SBA loans1,186 4371,238171.4 %(4.2)%
Service charges and fees17,118 17,377 14,987 (1.5)%14.2 %
Trust and other financial services income8,618 8,416 7,910 2.4 %9.0 %
Gain on real estate owned, net70 148 84 (52.7)%(16.7)%
Income from bank-owned life insurance2,042 8,269 1,331 (75.3)%53.4 %
Mortgage banking income329 379 696 (13.2)%(52.7)%
Other operating income3,208 2,609 2,109 23.0 %52.1 %
Total noninterest income$32,582 37,777 28,355 (13.8)%14.9 %
     
Noninterest income increased $4 million from the quarter ended March 31, 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 other operating income driven by a gain on equity method investments during the current quarter. Noninterest income decreased by $5 million from the quarter ended December 31, 2025, due to a decrease in income from bank-owned life insurance due to a large claim recognized in the prior quarter.


Dollars in thousandsChange 1Q26 vs.
1Q264Q251Q254Q251Q25
Noninterest expense:
Personnel expense$58,330 65,143 54,540 (10.5)%6.9 %
Non-personnel expense45,70848,37837,197(5.5)%22.9 %
Total noninterest expense$104,038 113,521 91,737 (8.4)%13.4 %

Noninterest expense increased from the quarter ended March 31, 2025 due to a $4 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 increased by $9 million due 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 decreased from the quarter ended December 31, 2025 due to declines in personnel and non-personnel expenses. Personnel expense decreased $7 million driven by lower incentive compensation and medical expenses. Non-personnel expense decreased by $3 million due to an decrease of $4 million in merger and restructuring expenses in the quarter ended March 31, 2026, partly offset by a $2 million increase in premises and occupancy expenses based on seasonal operating expenses during the quarter.
3


Dollars in thousandsChange 1Q26 vs.
1Q264Q251Q254Q251Q25
Income before income taxes$66,657 58,698 56,525 13.6 %17.9 %
Income tax expense16,12112,98513,06724.2 %23.4 %
Net income$50,536 45,713 43,458 10.6 %16.3 %

The provision for income taxes increased by $3 million from the quarter ended March 31, 2025 and the quarter ended December 31, 2025 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended March 31, 2025 and the quarter ended December 31, 2025 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 March 31, 2026, Northwest operated 151 full-service financial centers and ten 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
4

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.


5

Northwest Bancshares, Inc. and Subsidiaries
Consolidated Statements of Financial Condition (Unaudited)
(dollars in thousands, except per share amounts)
March 31,
2026		December 31,
2025		March 31,
2025
Assets  
Cash and cash equivalents$286,707 233,647 353,203 
Marketable securities available-for-sale (amortized cost of $1,884,060, $1,710,978 and $1,304,760, respectively)
1,746,919 1,586,382 1,153,385 
Marketable securities held-to-maturity (fair value of $567,470, $605,929 and $637,803, respectively)
646,661 683,369 735,909 
Total cash and cash equivalents and marketable securities2,680,287 2,503,398 2,242,497 
Loans held-for-sale16,846 22,437 71,206 
Residential mortgage loans3,035,984 3,100,780 3,121,647 
Home equity loans1,495,800 1,507,532 1,141,577 
Consumer loans2,660,567 2,563,890 2,081,469 
Commercial real estate loans3,161,314 3,296,902 2,792,734 
Commercial and industrial loans2,702,283 2,538,212 2,079,018 
Total loans receivable13,055,948 13,007,316 11,216,445 
Allowance for credit losses(150,045)(150,212)(122,809)
Loans receivable, net12,905,903 12,857,104 11,093,636 
FHLB stock, at cost32,781 36,628 17,941 
Accrued interest receivable57,221 56,291 45,949 
Real estate owned, net65 76 80 
Premises and equipment, net141,477 140,381 123,138 
Bank-owned life insurance292,103 294,386 254,444 
Goodwill444,330 444,330 380,997 
Other intangible assets, net37,478 39,667 2,334 
Other assets298,558 371,919 221,505 
Total assets$16,907,049 16,766,617 14,453,727 
Liabilities and shareholders’ equity  
Liabilities  
Noninterest-bearing demand deposits$3,121,044 3,123,229 2,640,943 
Interest-bearing demand deposits2,937,654 2,995,759 2,590,568 
Money market deposit accounts2,734,781 2,540,818 2,124,293 
Savings deposits2,444,799 2,366,513 2,221,901 
Time deposits2,975,026 2,916,698 2,596,451 
Total deposits14,213,304 13,943,017 12,174,156 
Borrowed funds350,884 446,283 197,270 
Subordinated debt114,800 114,800 114,625 
Junior subordinated debentures130,158 130,093 129,899 
Advances by borrowers for taxes and insurance40,127 37,309 44,121 
Accrued interest payable8,585 6,846 6,843 
Other liabilities144,884 197,845 157,858 
Total liabilities15,002,742 14,876,193 12,824,772 
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, 146,302,025, 146,107,964 and 127,736,303 shares issued and outstanding, respectively
1,463 1,461 1,277 
Additional paid-in capital1,271,372 1,270,444 1,035,093 
Retained earnings710,351 689,210 691,066 
Accumulated other comprehensive loss(78,879)(70,691)(98,481)
Total shareholders’ equity1,904,307 1,890,424 1,628,955 
Total liabilities and shareholders’ equity$16,907,049 16,766,617 14,453,727 
Equity to assets11.26 %11.27 %11.27 %
Tangible common equity to tangible assets*8.66 %8.64 %8.85 %
Book value per share$13.02 12.94 12.75 
Tangible book value per share*$9.72 9.63 9.75 
Closing market price per share$12.69 12.00 12.02 
Full time equivalent employees2,170 2,169 1,996 
Number of banking offices161 161 141 
*    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
 March 31, 2026December 31,
2025		September 30, 2025June 30, 2025March 31, 2025
 
Interest income: 
Loans receivable$180,549 184,047 177,723 154,914 164,638 
Mortgage-backed securities16,999 14,071 12,668 12,154 11,730 
Taxable investment securities1,601 1,324 1,183 999 933 
Tax-free investment securities762 777 752 512 512 
FHLB stock dividends768 701 652 318 366 
Interest-earning deposits871 1,905 1,700 2,673 2,416 
Total interest income201,550 202,825 194,678 171,570 180,595 
Interest expense:    
Deposits51,083 52,947 51,880 46,826 47,325 
Borrowed funds7,985 7,712 6,824 5,300 5,452 
Total interest expense59,068 60,659 58,704 52,126 52,777 
Net interest income142,482 142,166 135,974 119,444 127,818 
Provision for credit losses - loans4,954 5,743 31,394 11,456 8,256 
Provision for credit losses - unfunded commitments(585)1,981 (189)(2,712)(345)
Net interest income after provision for credit losses138,113 134,442 104,769 110,700 119,907 
Noninterest income: 
Gain on sale of investments11 142 36 — — 
Gain on sale of SBA loans1,186 437 341 819 1,238 
Service charges and fees17,118 17,377 16,911 15,797 14,987 
Trust and other financial services income8,618 8,416 8,040 7,948 7,910 
Gain on real estate owned, net70 148 132 258 84 
Income from bank-owned life insurance2,042 8,269 1,751 1,421 1,331 
Mortgage banking income329 379 1,003 1,075 696 
Other operating income3,208 2,609 3,984 3,620 2,109 
Total noninterest income32,582 37,777 32,198 30,938 28,355 
Noninterest expense: 
Compensation and employee benefits58,330 65,143 63,014 55,213 54,540 
Premises and occupancy costs9,863 8,170 7,707 7,122 8,400 
Office operations3,875 4,217 3,495 2,910 2,977 
Collections expense878 856 776 838 328 
Processing expenses16,806 16,454 15,072 12,973 13,990 
Marketing expenses1,668 1,827 1,932 3,018 1,880 
Federal deposit insurance premiums2,895 3,538 3,361 2,296 2,328 
Professional services3,523 3,366 3,010 3,990 2,756 
Amortization of intangible assets2,189 2,257 1,974 436 504 
Merger, asset disposition and restructuring expense631 4,160 31,260 6,244 1,123 
Other expenses3,380 3,533 1,897 2,500 2,911 
Total noninterest expense104,038 113,521 133,498 97,540 91,737 
Income before income taxes66,657 58,698 3,469 44,098 56,525 
Income tax expense16,121 12,985 302 10,423 13,067 
Net income$50,536 45,713 3,167 33,675 43,458 
Basic earnings per share$0.35 0.31 0.02 0.26 0.34 
Diluted earnings per share$0.34 0.31 0.02 0.26 0.34 
Weighted average common shares outstanding - diluted146,850,635 146,703,966 141,175,516 128,114,509 128,299,013 
Annualized return on average equity10.86 %9.70 %0.69 %8.26 %10.90 %
Annualized return on average assets1.22 %1.10 %0.08 %0.93 %1.22 %
Annualized return on average tangible common equity*14.59 %13.10 %0.90 %10.78 %14.29 %
Efficiency ratio59.43 %63.09 %79.38 %64.86 %58.74 %
Efficiency ratio, excluding certain items**57.82 %59.52 %59.62 %60.42 %57.70 %
*    Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.
**    Excludes 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
Reconciliation of Non-GAAP Financial Measures (Unaudited) *
(dollars in thousands, except per share amounts)
Quarter ended
March 31, 2026December 31,
2025		March 31, 2025
Reconciliation of net income to adjusted net income:
Net income (GAAP)$50,536 45,713 43,458 
Non-GAAP adjustments
Add: merger, asset disposition and restructuring expense631 4,160 1,123 
Less: tax benefit of non-GAAP adjustments(177)(1,165)(314)
Adjusted net income (non-GAAP)$50,990 48,708 44,267 
Diluted earnings per share (GAAP)$0.34 0.31 0.34 
Diluted adjusted earnings per share (non-GAAP)$0.35 0.33 0.35 
Average equity$1,887,742 1,870,088 1,616,611 
Average assets16,832,777 16,494,008 14,402,483 
Annualized return on average equity (GAAP)10.86 %9.70 %10.90 %
Annualized return on average assets (GAAP)1.22 %1.10 %1.22 %
Annualized return on average equity, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP)10.95 %10.33 %11.11 %
Annualized return on average assets, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP)1.23 %1.17 %1.25 %
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.
March 31,
2026		December 31,
2025		March 31,
2025
Tangible common equity to assets
Total shareholders’ equity$1,904,307 1,890,424 1,628,955 
  Less: goodwill and intangible assets(481,808)(483,997)(383,331)
Tangible common equity$1,422,499 1,406,427 1,245,624 
Total assets$16,907,049 16,766,617 14,453,727 
Less: goodwill and intangible assets(481,808)(483,997)(383,331)
  Tangible assets$16,425,241 16,282,620 14,070,396 
Tangible common equity to tangible assets8.66 %8.64 %8.85 %
Tangible book value per share
Tangible common equity$1,422,499 1,406,427 1,245,624 
Common shares outstanding146,302,025 146,107,964 127,736,303 
Tangible book value per share9.72 9.63 9.75 
8

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
March 31,
2026		December 31,
2025		September 30,
2025		June 30, 2025March 31,
2025
Annualized return on average tangible common equity
Net income$50,536 45,713 3,167 33,675 43,458 
Average shareholders’ equity1,887,742 1,870,088 1,809,395 1,635,966 1,616,611 
Less: average goodwill and intangible assets(483,240)(485,252)(409,875)(383,152)(383,649)
Average tangible common equity$1,404,502 1,384,836 1,399,520 1,252,814 1,232,962 
Annualized return on average tangible common equity14.59 %13.10 %0.90 %10.78 %14.29 %
Efficiency ratio, excluding amortization and merger, asset disposition and restructuring expenses
Noninterest expense$104,038 113,521 133,498 97,540 91,737 
Less: amortization expense(2,189)(2,257)(1,974)(436)(504)
Less: merger, asset disposition and restructuring expenses(631)(4,160)(31,260)(6,244)(1,123)
Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses$101,218 107,104 100,264 90,860 90,110 
Net interest income$142,482 142,166 135,974 119,444 127,818 
Noninterest income32,582 37,777 32,198 30,938 28,355 
Net interest income plus noninterest income$175,064 179,943 168,172 150,382 156,173 
Efficiency ratio, excluding amortization and merger, asset disposition and restructuring expenses57.82 %59.52 %59.62 %60.42 %57.70 %
*    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, 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.
9

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 March 31, 2026
BalancePercent of
total deposits		Number of
relationships
Uninsured deposits per the Call Report (1)$3,832,582 27.0 %6,389 
Less intercompany deposit accounts1,349,832 9.5 %12 
Less collateralized deposit accounts423,037 3.0 %253 
Uninsured deposits excluding intercompany and collateralized accounts$2,059,713 14.5 %6,124
(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 $134.0 million, or 0.95% of total deposits, as of March 31, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $358 million, or 2.53% of total deposits, as of March 31, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $336,335 as of March 31, 2026.

The following table provides additional details for the Company’s deposit portfolio:
As of March 31, 2026
BalancePercent of
total deposits		Number of
accounts
Personal noninterest bearing demand deposits$1,725,740 12.1 %310,693 
Business noninterest bearing demand deposits1,395,304 9.8 %47,840 
Personal interest-bearing demand deposits1,387,497 9.8 %54,470 
Business interest-bearing demand deposits1,550,15710.9 %9,004 
Personal money market deposits1,806,277 12.7 %27,709 
Business money market deposits928,504 6.5 %3,207 
Savings deposits2,444,799 17.2 %187,189 
Time deposits2,975,026 21.0 %78,925 
Total deposits $14,213,304 100.0 %719,037

Our average deposit account balance as of March 31, 2026 was $19,767. The Company’s insured cash sweep deposit balance was $731 million as of March 31, 2026.



10

Northwest Bancshares, Inc. and Subsidiaries
Regulatory Capital Requirements (Unaudited)
(dollars in thousands)
 At March 31, 2026
 Actual (1)Minimum capital
requirements (2)		Well capitalized
requirements 
 AmountRatioAmountRatioAmountRatio
Total capital (to risk weighted assets)      
Northwest Bancshares, Inc.$1,902,851 15.24 %$1,311,082 10.50 %$1,248,650 10.00 %
Northwest Bank1,759,855 14.11 %1,309,651 10.50 %1,247,287 10.00 %
Tier 1 capital (to risk weighted assets)    
Northwest Bancshares, Inc.1,528,581 12.24 %1,061,352 8.50 %749,190 6.00 %
Northwest Bank1,603,762 12.86 %1,060,194 8.50 %997,829 8.00 %
Common equity tier 1 capital (to risk weighted assets)    
Northwest Bancshares, Inc.1,528,581 12.24 %874,055 7.00 %N/AN/A
Northwest Bank1,603,762 12.86 %873,101 7.00 %810,736 6.50 %
Tier 1 capital (leverage) (to average assets)    
Northwest Bancshares, Inc.1,528,581 9.19 %665,184 4.00 %N/AN/A
Northwest Bank1,603,762 9.72 %660,322 4.00 %825,403 5.00 %
(1)     March 31, 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.

11

Northwest Bancshares, Inc. and Subsidiaries
Marketable Securities (Unaudited)
(dollars in thousands)
March 31, 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 five years through ten years$1,571 11 (11)1,571 3.06 
Due after ten years40,722 — (7,230)33,492 5.80 
   Debt issued by government sponsored enterprises:
   Due after one year through five years1,022 4 (1)1,025 1.27 
   Due after five years through ten years996 3 — 999 5.99 
   Municipal securities:
   Due in one year or less2,475 6 — 2,481 0.50 
Due after one year through five years10,492 72 (13)10,551 2.22 
Due after five years through ten years26,140 343 (1,607)24,876 6.55 
Due after ten years51,009 239 (7,459)43,789 9.22 
   Corporate debt issues:
Due in one year or less500 — — 500 — 
Due after one year through five years12,627 74 (160)12,541 2.88 
   Due after five years through ten years71,460 1,380 (367)72,473 5.37 
   Mortgage-backed agency securities:
   Fixed rate pass-through513,746 2,160 (12,893)503,013 6.98 
   Variable rate pass-through2,835 55 (2)2,888 3.70 
   Fixed rate agency CMBS640,409 771 (76,538)564,642 3.76 
   Variable rate agency CMBS7,732 — (6)7,726 1.94 
   Fixed rate agency CMOs464,103 693 (36,816)427,980 4.95 
   Variable rate agency CMOs36,221 161 (10)36,372 5.02 
   Total mortgage-backed agency securities1,665,046 3,840 (126,265)1,542,621 5.51 
   Total marketable securities available-for-sale$1,884,060 5,972 (143,113)1,746,919 5.56 
Marketable securities held-to-maturity
Government sponsored
Due after one year through five years107,989 — (8,248)99,741 2.73 
   Mortgage-backed agency securities:    
   Fixed rate pass-through95,150 — (9,957)85,193 4.14 
   Variable rate pass-through301 2 — 303 4.64 
   Fixed rate agency CMBS72,498 — (12,718)59,780 3.46 
   Fixed rate agency CMOs370,195 — (48,269)321,926 5.70 
   Variable rate agency CMOs528 — (1)527 4.03 
   Total mortgage-backed agency securities538,672 2 (70,945)467,729 5.12 
   Total marketable securities held-to-maturity$646,661 2 (79,193)567,470 4.72 

12

Northwest Bancshares, Inc. and Subsidiaries
Asset Quality (Unaudited)
(dollars in thousands)
 March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Nonaccrual loans:     
Residential mortgage loans$10,500 12,247 11,497 8,482 7,025 
Home equity loans4,780 3,755 6,979 3,507 3,004 
Consumer loans5,732 5,711 5,898 4,418 5,201 
Commercial real estate loans47,337 57,485 82,580 62,091 31,763 
Commercial and industrial loans22,594 28,085 21,371 23,896 11,757 
Total nonaccrual loans90,943 107,283 128,325 102,394 58,750 
Loans 90 days past due and still accruing543 646 701 493 603 
Nonperforming loans91,486 107,929 129,026 102,887 59,353 
Real estate owned, net65 76 174 48 80 
Other nonperforming assets (1)— — — — 16,102 
Nonperforming assets$91,551 108,005 129,200 102,935 75,535 
Nonperforming loans to total loans0.70 %0.83 %1.00 %0.91 %0.53 %
Nonperforming assets to total assets0.54 %0.64 %0.79 %0.71 %0.52 %
Allowance for credit losses to total loans1.15 %1.15 %1.22 %1.14 %1.09 %
Allowance for credit losses to nonperforming loans164.01 %139.18 %121.99 %125.53 %206.91 %
(1) Other nonperforming assets includes nonaccrual loans held-for-sale.
13

Northwest Bancshares, Inc. and Subsidiaries
Loans by Credit Quality Indicators (Unaudited)
(dollars in thousands)
At March 31, 2026PassSpecial
   mention *		Substandard **DoubtfulLossLoans
receivable
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 
At June 30, 2025
Personal Banking:      
Residential mortgage loans$3,039,809 — 12,317 — — 3,052,126 
Home equity loans1,153,808 — 3,712 — — 1,157,520 
Consumer loans2,206,363 — 4,912 — — 2,211,275 
Total Personal Banking6,399,980 — 20,941 — — 6,420,921 
Commercial Banking:
Commercial real estate loans2,266,057 112,852 403,495 — — 2,782,404 
Commercial and industrial loans1,956,751 87,951 93,797 — — 2,138,499 
Total Commercial Banking4,222,808 200,803 497,292 — — 4,920,903 
Total loans$10,622,788 200,803 518,233 — — 11,341,824 
At March 31, 2025
Personal Banking:      
Residential mortgage loans$3,110,770 — 10,877 — — 3,121,647 
Home equity loans1,138,367 — 3,210 — — 1,141,577 
Consumer loans2,075,719 — 5,750 — — 2,081,469 
Total Personal Banking6,324,856 — 19,837 — — 6,344,693 
Commercial Banking:
Commercial real estate loans2,497,722 86,779 208,233 — — 2,792,734 
Commercial and industrial loans1,964,699 63,249 51,070 — — 2,079,018 
Total Commercial Banking4,462,421 150,028 259,303 — — 4,871,752 
Total loans$10,787,277 150,028 279,140 — — 11,216,445 
*    Includes $85.6 million, $38.2 million, $41.0 million, $4.0 million, and $4.7 million of acquired loans at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.
**    Includes $100.4 million, $93.2 million, $96.9 million, $19.2 million, and $18.0 million of acquired loans at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.
14

Northwest Bancshares, Inc. and Subsidiaries
Loan Delinquency (Unaudited)
(dollars in thousands)
March 31, 2026*December 31, 2025*September 30, 2025*June 30, 2025*March 31, 2025*
          
Loans delinquent 30 days to 59 days:  
Residential mortgage loans$44,502 1.5 %$41,180 1.3 %$1,639 0.1 %$561 — %$32,840 1.0 %
Home equity loans5,932 0.4 %6,488 0.4 %4,644 0.3 %4,664 0.4 %3,882 0.3 %
Consumer loans10,429 0.4 %14,063 0.5 %12,257 0.5 %9,174 0.4 %8,792 0.4 %
Commercial real estate loans17,541 0.6 %28,645 0.9 %14,600 0.4 %4,585 0.2 %8,536 0.3 %
Commercial and industrial loans7,127 0.3 %5,657 0.2 %9,974 0.4 %5,569 0.3 %6,841 0.3 %
Total loans delinquent 30 days to 59 days$85,531 0.7 %$96,033 0.7 %$43,114 0.3 %$24,553 0.2 %$60,891 0.5 %
Loans delinquent 60 days to 89 days:         
Residential mortgage loans$2,531 0.1 %$10,934 0.4 %$7,917 0.3 %$8,958 0.3 %$3,074 0.1 %
Home equity loans2,946 0.2 %2,316 0.2 %2,671 0.2 %985 0.1 %1,290 0.1 %
Consumer loans4,264 0.2 %4,599 0.2 %3,691 0.2 %3,233 0.1 %2,808 0.1 %
Commercial real estate loans25,859 0.8 %12,941 0.4 %1,575 — %13,240 0.5 %2,001 0.1 %
Commercial and industrial loans8,432 0.3 %2,899 0.1 %1,915 0.1 %2,031 0.1 %2,676 0.1 %
Total loans delinquent 60 days to 89 days$44,032 0.3 %$33,689 0.3 %$17,769 0.1 %$28,447 0.3 %$11,849 0.1 %
Loans delinquent 90 days or more:         
Residential mortgage loans$6,468 0.2 %$10,001 0.3 %$9,427 0.3 %$6,905 0.2 %$4,005 0.1 %
Home equity loans3,263 0.2 %2,492 0.2 %2,963 0.2 %1,879 0.2 %1,893 0.2 %
Consumer loans4,561 0.2 %4,893 0.2 %4,865 0.2 %3,486 0.2 %4,026 0.2 %
Commercial real estate loans18,282 0.6 %32,745 1.0 %56,453 1.6 %41,875 1.5 %23,433 0.8 %
Commercial and industrial loans11,266 0.4 %16,269 0.6 %9,490 0.4 %10,433 0.5 %5,994 0.3 %
Total loans delinquent 90 days or more$43,840 0.3 %$66,400 0.5 %$83,198 0.6 %$64,578 0.6 %$39,351 0.3 %
Total loans delinquent$173,403 1.3 %$196,122 1.5 %$144,081 1.1 %$117,578 1.0 %$112,091 1.0 %
*    Represents delinquency, in dollars, divided by the respective total amount of that type of loan outstanding.

15

Northwest Bancshares, Inc. and Subsidiaries
Allowance for Credit Losses (Unaudited)
(dollars in thousands)
Quarter ended
 March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Beginning balance$150,212 157,396 129,159 122,809 116,819 
Initial allowance on loans purchased with credit deterioration— — 6,029 — — 
Provision4,954 5,743 31,394 11,456 8,256 
Charge-offs residential mortgage(1,001)(228)(137)(273)(588)
Charge-offs home equity(291)(558)(336)(413)(273)
Charge-offs consumer(4,531)(4,139)(3,994)(3,331)(3,805)
Charge-offs commercial real estate(254)(9,765)(4,312)(293)(116)
Charge-offs commercial and industrial(1,155)(532)(2,395)(3,597)(571)
Recoveries2,111 2,295 1,988 2,801 3,087 
Ending balance$150,045 150,212 157,396 129,159 122,809 
Net charge-offs to average loans, annualized0.16 %0.40 %0.29 %0.18 %0.08 %



16

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 
March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 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$3,078,476 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 %$3,155,738 30,394 3.85 %
Home equity loans1,501,203 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 %1,139,728 16,164 5.75 %
Consumer loans2,529,868 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 %1,948,230 26,273 5.47 %
Commercial real estate loans3,342,140 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 %2,879,607 56,508 7.85 %
Commercial and industrial loans2,632,150 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 %2,053,213 36,012 7.02 %
Total loans receivable (a) (b) (d)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 %11,176,516 165,351 6.00 %
Mortgage-backed securities (c)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 %1,773,402 11,730 2.65 %
Investment securities (c) (d)317,996 2,566 3.23 %309,147 2,339 3.03 %301,719 2,153 2.85 %266,053 1,668 2.51 %263,825 1,599 2.43 %
FHLB stock, at cost36,220 768 8.59 %32,876 701 8.46 %30,434 652 8.51 %17,838 318 7.15 %20,862 366 7.11 %
Other interest-earning deposits139,970 871 2.49 %170,370 1,905 4.37 %164,131 1,700 4.05 %220,416 2,673 4.85 %243,412 2,416 3.97 %
Total interest-earning assets15,727,019 202,416 5.22 %15,386,966 203,860 5.26 %14,874,990 195,648 5.22 %13,543,684 172,448 5.11 %13,478,017 181,462 5.46 %
Noninterest-earning assets (e)1,105,758 1,107,042 1,067,450 924,513 924,466 
Total assets$16,832,777   $16,494,008 $15,942,440 $14,468,197 $14,402,483 
Liabilities and shareholders’ equity:            
Interest-bearing liabilities:               
Savings deposits$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 %$2,194,305 6,452 1.19 %
Interest-bearing demand deposit2,999,478 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 %2,593,228 7,063 1.10 %
Money market deposit accounts2,609,333 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 %2,082,948 9,306 1.81 %
Time deposits2,967,098 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 %2,629,388 24,504 3.78 %
Total interest bearing deposits (g)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 %9,499,869 47,325 2.02 %
Borrowed funds (f)404,547 3,875 3.88 %354,894 3,425 3.83 %347,357 3,366 3.84 %208,342 2,046 3.94 %224,122 2,206 3.99 %
Subordinated debt114,800 2,204 7.68 %114,800 2,285 7.79 %114,745 1,335 4.65 %114,661 1,148 4.00 %114,576 1,148 4.01 %
Junior subordinated debentures130,121 1,906 5.86 %130,051 2,002 6.02 %129,986 2,123 6.39 %129,921 2,106 6.41 %129,856 2,098 6.46 %
Total interest-bearing liabilities11,621,264 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 %9,968,423 52,777 2.15 %
Noninterest-bearing demand deposits (g)3,074,939 3,105,108 2,959,871 2,611,597 2,588,502 
Noninterest-bearing liabilities248,832 252,960 244,306 225,306 228,947 
Total liabilities14,945,035   14,623,920 14,133,045 12,832,231 12,785,872   
Shareholders’ equity1,887,742 1,870,088 1,809,395 1,635,966 1,616,611 
Total liabilities and shareholders’ equity$16,832,777   $16,494,008 $15,942,440 $14,468,197 $14,402,483   
Net interest income/Interest rate spread FTE 143,348 3.16 %143,201 3.12 %136,944 3.09 %120,322 3.02 %128,685 3.31 %
Net interest-earning assets/Net interest margin FTE$4,105,755  3.70 %$4,121,114 3.69 %$3,946,122 3.65 %$3,548,356 3.56 %$3,509,594 3.87 %
Tax equivalent adjustment (d)866 1,035 970 878 867 
Net interest income, GAAP basis142,482 142,166 135,974 119,444 127,818 
Ratio of interest-earning assets to interest-bearing liabilities1.35X  1.37X1.36X1.36X1.35X
(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 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 1.48%, 1.53%, 1.55%, 1.55%, and 1.59%, respectively.
17

Source: View Original Filing on SEC EDGAR

FAQ

How did Northwest Bancshares (NWBI) perform financially in Q1 2026?

Northwest Bancshares reported GAAP net income of about $51 million, or $0.34 per diluted share, for Q1 2026. This compares to roughly $43.5 million and $0.34 per diluted share a year earlier, reflecting higher net interest income and lower credit loss provisions.

What were Northwest Bancshares’ key profitability ratios for Q1 2026?

For Q1 2026, Northwest Bancshares generated an annualized return on average equity of 10.86% and return on average assets of 1.22%. On an adjusted basis, returns were slightly higher, supported by improved efficiency and lower adjusted noninterest expense versus the prior quarter.

How strong was Northwest Bancshares’ net interest margin in Q1 2026?

Net interest margin was 3.70% in Q1 2026, essentially flat with 3.69% in Q4 2025 and down from 3.87% a year earlier. The margin benefited from loan and securities growth and lower deposit costs, partly offset by modestly lower loan yields versus the prior year’s elevated level.

What did Northwest Bancshares report about credit quality in Q1 2026?

Credit quality indicators remained favorable, with annualized net charge‑offs of 0.16% and nonperforming assets at 0.54% of total assets. The allowance for credit losses covered about 164% of nonperforming loans, while the total provision for credit losses declined versus both Q4 2025 and Q1 2025.

What dividend did Northwest Bancshares declare for Q1 2026?

The board declared a $0.20 per share quarterly cash dividend, payable May 20, 2026 to shareholders of record on May 7, 2026. Based on the March 31, 2026 share price, this equates to an annualized dividend yield of approximately 6.3%.

Did Northwest Bancshares announce a share repurchase program in this filing?

Yes. The board approved a new $50 million share repurchase program authorizing open‑market or negotiated purchases over the next 24 months. This authorization replaces the prior 2012 program and allows management to repurchase common shares subject to market, capital, and regulatory considerations.

How well capitalized is Northwest Bancshares after Q1 2026?

At March 31, 2026, Northwest Bancshares reported a total capital ratio of 15.24% and a common equity tier 1 ratio of 12.24%. These levels are well above minimum and well‑capitalized regulatory requirements, supporting ongoing dividends and the newly authorized buyback.

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