STOCK TITAN
  1. Home
  2. Sec-filings
  3. NWBI
  4. [8-K] Northwest Bancshares, Inc. Reports Material Event

Northwest Bancshares (NASDAQ: NWBI) Q2 net income surges 59%

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

Rhea-AI Filing Summary

Northwest Bancshares, Inc. reported record second‑quarter 2026 results, with GAAP net income of $53.5 million, or $0.36 per diluted share, up from $33.7 million, or $0.26, a year earlier and $50.5 million, or $0.34, in the prior quarter. Adjusted diluted EPS was $0.37. Annualized returns on average equity and assets improved to 11.20% and 1.27%, respectively.

Net interest income rose to $146.9 million, as net interest margin expanded to 3.75% from 3.56% a year ago, supported by 16.4% year‑over‑year average loan growth and lower deposit costs. Noninterest income increased to $34.2 million, driven by service charges and trust and other financial services income, while the efficiency ratio improved to 57.6% (56.2% on an adjusted basis).

Credit quality metrics remained strong: annualized net charge‑offs were 0.15%, nonperforming loans were 0.69% of total loans, and the allowance for credit losses covered 162% of nonperforming loans. The board declared a quarterly cash dividend of $0.20 per share, the 127th consecutive dividend, implying an approximate 5.3% yield based on the June 30, 2026 share price. Capital ratios stayed well above well‑capitalized thresholds, with a common equity tier 1 ratio of 12.21% at the holding company.

Positive

  • Q2 2026 net income increased 59.0% year over year to $53.5 million, with diluted EPS rising to $0.36.
  • Net interest income grew to $146.9 million and net interest margin expanded to 3.75% from 3.56% a year earlier.
  • Asset quality and capital remained strong, with nonperforming loans at 0.69% of loans and a CET1 ratio of 12.21%.

Negative

  • None.

Insights

Analyzing...

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 $53,546 thousand Quarter ended June 30, 2026
Diluted EPS $0.36 per share Quarter ended June 30, 2026
Net interest income $146,938 thousand Quarter ended June 30, 2026
Net interest margin 3.75 % Quarter ended June 30, 2026, fully taxable equivalent basis
Efficiency ratio 57.56 % Quarter ended June 30, 2026
Quarterly dividend $0.20 per share Payable August 18, 2026 to shareholders of record August 6, 2026
Nonperforming loans ratio 0.69 % Nonperforming loans to total loans at June 30, 2026
Common equity tier 1 ratio 12.21 % Northwest Bancshares, Inc. at June 30, 2026
net interest margin financial
"Net interest margin continues to expand to 3.75%"
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
"efficiency ratio at 57.6% and our adjusted efficiency ratio at 56.2%"
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* 8.65%"
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.
nonperforming assets financial
"Nonperforming assets to total assets 0.53%"
Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.
allowance for credit losses financial
"Allowance for credit losses to total loans 1.13%"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
uninsured deposits financial
"Uninsured deposits excluding intercompany and collateralized accounts 14.6%"
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.
Net income $53,546 thousand +59.0% vs Q2 2025 (from $33,675 thousand)
Diluted EPS $0.36 up from $0.26 in Q2 2025 and $0.34 in Q1 2026
Net interest income $146,938 thousand +23.0% vs Q2 2025 (from $119,444 thousand)
Net interest margin 3.75 % from 3.70% in Q1 2026 and 3.56% in Q2 2025
Return on average assets 1.27 % from 1.22% in Q1 2026 and 0.93% in Q2 2025
Efficiency ratio 57.56 % improved from 59.43% in Q1 2026 and 64.86% in Q2 2025

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding 8-K Material Events →

FAQ

What were Northwest Bancshares (NWBI) Q2 2026 earnings?
Northwest Bancshares reported Q2 2026 GAAP net income of $53.5 million, or $0.36 diluted EPS. Adjusted net income was $53.9 million, with adjusted diluted EPS of $0.37, reflecting record quarterly performance and improved profitability metrics.

How did NWBI’s Q2 2026 results compare to Q2 2025?
Q2 2026 net income of $53.5 million rose from $33.7 million a year earlier, a 59.0% increase. Diluted EPS increased from $0.26 to $0.36, while net interest margin widened from 3.56% to 3.75%, and return on assets improved to 1.27%.

What dividend did Northwest Bancshares (NWBI) declare for Q2 2026?
The board declared a quarterly cash dividend of $0.20 per share, payable on August 18, 2026 to shareholders of record on August 6, 2026. This marks the 127th consecutive quarterly dividend and represents an approximate 5.3% yield based on June 30, 2026 market value.

How strong was credit quality for NWBI in Q2 2026?
Credit quality remained strong, with annualized net charge‑offs at 0.15% and nonperforming loans at 0.69% of total loans. Nonperforming assets were 0.53% of total assets, and the allowance for credit losses covered 162.44% of nonperforming loans, indicating solid loss absorption capacity.

What was Northwest Bancshares (NWBI) net interest margin in Q2 2026?
Net interest margin on a fully taxable equivalent basis was 3.75% in Q2 2026, up from 3.70% in Q1 2026 and 3.56% in Q2 2025. Net interest income increased to $146.9 million, supported by higher earning‑asset balances and lower deposit costs.

How well capitalized was NWBI as of June 30, 2026?
As of June 30, 2026, Northwest Bancshares reported a total capital ratio of 15.17% and a common equity tier 1 ratio of 12.21% at the holding company. The Tier 1 leverage ratio was 9.37%, all comfortably above regulatory well‑capitalized thresholds.

What portion of NWBI’s deposits were uninsured at June 30, 2026?
Uninsured deposits per the Call Report totaled $3.95 billion, or 27.9% of deposits. Excluding intercompany and collateralized accounts, uninsured deposits were $2.07 billion, or 14.6% of total deposits, with the largest uninsured depositor representing 1.3% of deposits.
0001471265false00014712652026-07-272026-07-27


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):  July 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 July 27, 2026, Northwest Bancshares, Inc. ("the Company") issued a press release announcing its financial results for the quarter ended June 30, 2026 (the "Press Release"). The Press Release is being furnished as Exhibit 99.1. The Company also made available its second 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 July 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:July 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 Record Second Quarter 2026 GAAP net income of
$54 million, or $0.36 per diluted share

Adjusted diluted EPS (non-GAAP) of $0.37 per share
Net interest margin continues to expand to 3.75%
5.3% annualized loan growth from prior quarter
Credit quality remained strong with annualized net charge-offs of 0.15% and nonperforming assets of 0.69%

Columbus, Ohio — July 27, 2026 Northwest Bancshares, Inc., (the “Company”), (Nasdaq: NWBI) announced record net income for the quarter ended June 30, 2026 of $54 million, or $0.36 per diluted share. This represents an increase of $20 million compared to the same quarter last year, when net income was $34 million, or $0.26 per diluted share, and an increase of $3 million compared to the prior quarter, when net income was $51 million, or $0.34 per share. The annualized returns on average shareholders’ equity and average assets for the quarter ended June 30, 2026 were 11.20% and 1.27% compared to 8.26% and 0.93% for the same quarter last year and 10.86% and 1.22% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended June 30, 2026 was $54 million, or $0.37, per diluted share, which increased by $3 million from $51 million, or $0.35, per diluted share, in the prior quarter. This increase was primarily driven by an increase in net interest income of $4 million and an increase in noninterest income of $2 million which were partially offset by an increase in provision for credit losses expense of $2 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended June 30, 2026 were 11.26% and 1.28% compared to 10.95% and 1.23% 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 August 18, 2026 to shareholders of record as of August 6, 2026. This is the 127th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of June 30, 2026, this represents an annualized dividend yield of approximately 5.3%.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “I am pleased to report a strong second quarter performance, with Northwest delivering another quarter of record net income, more than 59% year-over-year growth, supported by a balanced and consistent performance across the whole bank. We drove 32% year-over-year average loan growth in our C&I business, with disciplined growth in our national specialty business verticals, and benefited from the strength of our retail deposit franchise, achieving our fourth consecutive quarter of lower deposit costs, one of the best-in-class among our peers.

We produced these results while continuing to invest in talent, technology, and new financial centers, and maintaining expense management discipline, driving another quarter of improved performance with our efficiency ratio at 57.6% and our adjusted efficiency ratio at 56.2% for the quarter.

Building on our strong first half performance, and our team already making an impact in the Columbus market, attracting new talent, customers, and deposits, we continue to focus on organic growth initiatives, further optimizing our financial performance, expanding our financial center network, and serving our core customers and communities.”

Balance Sheet Highlights

Dollars in thousandsChange 2Q26 vs.
2Q261Q262Q251Q262Q25
Average loans receivable$13,094,235 13,083,837 11,248,954 0.1 %16.4 %
Average investments2,531,603 2,466,992 2,056,476 2.6 %23.1 %
Average deposits14,133,825 14,046,735 12,154,001 0.6 %16.3 %
Average borrowed funds379,262 404,547 208,342 (6.3)%82.0 %
1


•Average loans receivable increased $1.8 billion from the quarter ended June 30, 2025, primarily driven by the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition. Compared to the quarter ended March 31, 2026, average loans receivable increased $10 million driven by growth in our commercial and industrial and consumer loan portfolios.
•Average investments grew $475 million from the quarter ended June 30, 2025 and $65 million from the quarter ended March 31, 2026. The growth in average investments was primarily due to the Penns Woods acquisition and a targeted increase in the overall securities portfolio.
•Average deposits grew $2.0 billion from the quarter ended June 30, 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 $87 million from the quarter ended March 31, 2026 primarily driven by increase in savings and money market account balances partly due to customers shifting funds to these products as their time deposits matured.
•Average borrowings increased $171 million compared to the quarter end June 30, 2025 due to the acquisition of long term borrowings from Penns Woods. Average borrowings decreased $25 million compared to the quarter ended March 31, 2026. The decrease in average borrowings is attributable to the reduction of short term borrowings needs primarily due to growth in average deposits exceeding average loan and securities growth.

Income Statement Highlights

Dollars in thousandsChange 2Q26 vs.
2Q261Q262Q251Q262Q25
Interest income$205,140 201,550 171,570 1.8 %19.6 %
Interest expense58,202 59,068 52,126 (1.5)%11.7 %
Net interest income$146,938 142,482 119,444 3.1 %23.0 %
Net interest margin FTE3.75 %3.70 %3.56 %

Compared to the quarter ended June 30, 2025, net interest income increased $27 million and net interest margin increased to 3.75% from 3.56% for the quarter ended June 30, 2025. This increase in net interest income resulted primarily from:

•A $34 million increase in interest income that was the result of higher average yields coupled with an 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 increased to 5.61% for the quarter ended June 30, 2026 from 5.55% for the quarter ended June 30, 2025. The increase in yield 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 2.00% for the quarter ended June 30, 2026 from 2.09% for the quarter ended June 30, 2025.

Compared to the quarter ended March 31, 2026, net interest income increased $4 million and net interest margin increased to 3.75% for the quarter ended June 30, 2026 from 3.70%. This increase in net interest income resulted from the following:

•A $4 million increase 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 partially offset by a decrease in loan yields. The average yield on loans decreased 1 bps to 5.61% and average investment yields increased to 3.27% from 3.17% for the quarter ended March 31, 2026. 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 with a change in portfolio mix.
•A $1 million decrease in interest expense driven by lower interest expense on deposits. Average cost of interest-bearing deposits declined compared to the prior quarter to 1.83% from 1.89% for the quarter ended March 31, 2026 while average cost of borrowings increased to 3.96% from 3.88% for the quarter ended March 31, 2026.

Dollars in thousandsChange 2Q26 vs.
2Q261Q262Q251Q262Q25
Provision for credit losses - loans$4,280 4,954 11,456 (13.6)%(62.6)%
Provision for credit losses - unfunded commitments2,357 (585)(2,712)(502.9)%(186.9)%
Total provision for credit losses expense$6,637 4,369 8,744 51.9 %(24.1)%

The total provision for credit losses for the quarter ended June 30, 2026 was $7 million primarily driven by growth in our commercial lending portfolio, including unfunded commitments. Total provision for credit losses for the quarter ended March 31, 2026 was $4 million driven by growth in our commercial lending portfolio and increased uncertainty in the economic outlook.
2


The Company saw an increase in classified loans to $524 million, or 3.96% of total loans, at June 30, 2026 from $518 million, or 4.57% of total loans, at June 30, 2025 and $498 million, or 3.81% of total loans, at March 31, 2026. The increase from the prior quarter was driven by changes in our commercial real estate portfolio which increased $29 million. The increase from the prior year was primarily due to classified loans acquired in the Penns Woods acquisition.

Dollars in thousandsChange 2Q26 vs.
2Q261Q262Q251Q262Q25
Noninterest income:
Gain on sale of investments$336 11 — 2954.5 %NA
Gain on sale of SBA loans1,217 1,1868192.6 %48.6 %
Service charges and fees16,908 17,118 15,797 (1.2)%7.0 %
Trust and other financial services income9,449 8,618 7,948 9.6 %18.9 %
Gain on real estate owned, net20 70 258 (71.4)%(92.2)%
Income from bank-owned life insurance2,013 2,042 1,421 (1.4)%41.7 %
Mortgage banking income738 329 1,075 124.3 %(31.3)%
Other operating income3,548 3,208 3,620 10.6 %(2.0)%
Total noninterest income$34,229 32,582 30,938 5.1 %10.6 %
     
Noninterest income increased $3 million from the quarter ended June 30, 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 trust and other financial services income due to growth in our wealth management business. Noninterest income increased by $2 million from the quarter ended March 31, 2026, also due to an increase in trust and other financial services income due to growth in our wealth management business.


Dollars in thousandsChange 2Q26 vs.
2Q261Q262Q251Q262Q25
Noninterest expense:
Personnel expense$63,476 58,330 55,213 8.8 %15.0 %
Non-personnel expense40,80745,70842,327(10.7)%(3.6)%
Total noninterest expense$104,283 104,038 97,540 0.2 %6.9 %

Noninterest expense increased from the quarter ended June 30, 2025 due to a $8 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 decreased by $2 million due to a $6 million decrease in merger, asset disposition and restructuring expense coupled with a $3 million decrease in federal deposit insurance (FDIC) premium expense. The decrease in FDIC premiums expense related to prior period assessment rate changes. These decreases were partially offset by 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 remained flat from the quarter ended March 31, 2026 due to an increase in personnel expense which was offset by a decrease in non-personnel expenses. Personnel expense increased $5 million driven by higher base salaries, reflecting annual merit increases and one additional business day, and higher incentive compensation expenses. Non-personnel expense decreased by $5 million due to an decrease of $3 million in FDIC insurance premiums in the quarter ended June 30, 2026 for the same reasons discussed above coupled with a $1 million decrease in premises and occupancy expenses based on seasonal operating expenses during the first quarter.

Dollars in thousandsChange 2Q26 vs.
2Q261Q262Q251Q262Q25
Income before income taxes$70,247 66,657 44,098 5.4 %59.3 %
Income tax expense16,70116,12110,4233.6 %60.2 %
Net income$53,546 50,536 33,675 6.0 %59.0 %

The provision for income taxes increased by $6 million from the quarter ended June 30, 2025 and $1 million for the quarter ended March 31, 2026 primarily due to the quarterly change in income before income taxes.

3

Net income increased from the quarter ended June 30, 2025 and the quarter ended March 31, 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 June 30, 2026, Northwest operated 151 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. 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 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
4

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)
June 30,
2026		December 31,
2025		June 30,
2025
Assets  
Cash and cash equivalents$248,499 233,647 267,075 
Marketable securities available-for-sale (amortized cost of $1,972,165, $1,710,978 and $1,341,651, respectively)
1,829,179 1,586,382 1,194,883 
Marketable securities held-to-maturity (fair value of $550,416, $605,929 and $628,936, respectively)
630,802 683,369 719,561 
Total cash and cash equivalents and marketable securities2,708,480 2,503,398 2,181,519 
Loans held-for-sale15,391 22,437 13,104 
Residential mortgage loans3,001,908 3,100,780 3,052,126 
Home equity loans1,497,157 1,507,532 1,157,520 
Consumer loans2,843,058 2,563,890 2,211,275 
Commercial real estate loans2,988,237 3,296,902 2,782,404 
Commercial and industrial loans2,898,867 2,538,212 2,138,499 
Total loans receivable13,229,227 13,007,316 11,341,824 
Allowance for credit losses(149,321)(150,212)(129,159)
Loans receivable, net13,079,906 12,857,104 11,212,665 
FHLB stock, at cost43,345 36,628 17,809 
Accrued interest receivable57,473 56,291 46,987 
Real estate owned, net63 76 48 
Premises and equipment, net144,423 140,381 123,402 
Bank-owned life insurance293,354 294,386 255,708 
Goodwill444,997 444,330 380,997 
Other intangible assets, net35,312 39,667 1,897 
Other assets384,395 371,919 250,971 
Total assets$17,207,139 16,766,617 14,485,107 
Liabilities and shareholders’ equity  
Liabilities  
Noninterest-bearing demand deposits$3,191,560 3,123,229 2,643,099 
Interest-bearing demand deposits2,916,518 2,995,759 2,622,695 
Money market deposit accounts2,766,675 2,540,818 2,153,078 
Savings deposits2,459,255 2,366,513 2,211,509 
Time deposits2,827,810 2,916,698 2,570,648 
Total deposits14,161,818 13,943,017 12,201,029 
Borrowed funds612,075 446,283 198,008 
Subordinated debt114,800 114,800 114,713 
Junior subordinated debentures130,223 130,093 129,964 
Advances by borrowers for taxes and insurance47,400 37,309 47,865 
Accrued interest payable8,385 6,846 7,729 
Other liabilities205,031 197,845 143,731 
Total liabilities15,279,732 14,876,193 12,843,039 
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, 146,396,520, 146,107,964 and 127,842,403 shares issued and outstanding, respectively
1,464 1,461 1,278 
Additional paid-in capital1,274,117 1,270,444 1,037,615 
Retained earnings734,423 689,210 699,049 
Accumulated other comprehensive loss(82,597)(70,691)(95,874)
Total shareholders’ equity1,927,407 1,890,424 1,642,068 
Total liabilities and shareholders’ equity$17,207,139 16,766,617 14,485,107 
Equity to assets11.20 %11.27 %11.34 %
Tangible common equity to tangible assets*8.65 %8.64 %8.93 %
Book value per share$13.17 12.94 12.84 
Tangible book value per share*$9.88 9.63 9.85 
Closing market price per share$15.16 12.00 12.78 
Full time equivalent employees2,183 2,169 1,998 
Number of banking offices162 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
 June 30, 2026March 31,
2026		December 31, 2025September 30, 2025June 30, 2025
 
Interest income: 
Loans receivable$182,469 180,549 184,047 177,723 154,914 
Mortgage-backed securities18,024 16,999 14,071 12,668 12,154 
Taxable investment securities1,799 1,601 1,324 1,183 999 
Tax-free investment securities674 762 777 752 512 
FHLB stock dividends738 768 701 652 318 
Interest-earning deposits1,436 871 1,905 1,700 2,673 
Total interest income205,140 201,550 202,825 194,678 171,570 
Interest expense:    
Deposits50,384 51,083 52,947 51,880 46,826 
Borrowed funds7,818 7,985 7,712 6,824 5,300 
Total interest expense58,202 59,068 60,659 58,704 52,126 
Net interest income146,938 142,482 142,166 135,974 119,444 
Provision for credit losses - loans4,280 4,954 5,743 31,394 11,456 
Provision for credit losses - unfunded commitments2,357 (585)1,981 (189)(2,712)
Net interest income after provision for credit losses140,301 138,113 134,442 104,769 110,700 
Noninterest income: 
Gain on sale of investments336 11 142 36 — 
Gain on sale of SBA loans1,217 1,186 437 341 819 
Service charges and fees16,908 17,118 17,377 16,911 15,797 
Trust and other financial services income9,449 8,618 8,416 8,040 7,948 
Gain on real estate owned, net20 70 148 132 258 
Income from bank-owned life insurance2,013 2,042 8,269 1,751 1,421 
Mortgage banking income738 329 379 1,003 1,075 
Other operating income3,548 3,208 2,609 3,984 3,620 
Total noninterest income34,229 32,582 37,777 32,198 30,938 
Noninterest expense: 
Compensation and employee benefits63,476 58,330 65,143 63,014 55,213 
Premises and occupancy costs8,494 9,863 8,170 7,707 7,122 
Office operations3,660 3,875 4,217 3,495 2,910 
Collections expense665 878 856 776 838 
Processing expenses16,948 16,806 16,454 15,072 12,973 
Marketing expenses2,362 1,668 1,827 1,932 3,018 
Federal deposit insurance premiums(291)2,895 3,538 3,361 2,296 
Professional services3,490 3,523 3,366 3,010 3,990 
Amortization of intangible assets2,166 2,189 2,257 1,974 436 
Merger, asset disposition and restructuring expense426 631 4,160 31,260 6,244 
Other expenses2,887 3,380 3,533 1,897 2,500 
Total noninterest expense104,283 104,038 113,521 133,498 97,540 
Income before income taxes70,247 66,657 58,698 3,469 44,098 
Income tax expense16,701 16,121 12,985 302 10,423 
Net income$53,546 50,536 45,713 3,167 33,675 
Basic earnings per share$0.37 0.35 0.31 0.02 0.26 
Diluted earnings per share$0.36 0.34 0.31 0.02 0.26 
Weighted average common shares outstanding - diluted147,127,223 146,850,635 146,703,966 141,175,516 128,114,509 
Annualized return on average equity11.20 %10.86 %9.70 %0.69 %8.26 %
Annualized return on average assets1.27 %1.22 %1.10 %0.08 %0.93 %
Annualized return on average tangible common equity*14.94 %14.59 %13.10 %0.90 %10.78 %
Efficiency ratio57.56 %59.43 %63.09 %79.38 %64.86 %
Efficiency ratio, excluding certain items**56.24 %57.82 %59.57 %59.63 %60.42 %
*    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)
Six months ended June 30,
20262025
Interest income:
Loans receivable$363,018 319,552 
Mortgage-backed securities35,023 23,884 
Taxable investment securities3,400 1,932 
Tax-free investment securities1,436 1,024 
FHLB stock dividends1,506 684 
Interest-earning deposits2,307 5,089 
Total interest income406,690 352,165 
Interest expense:
Deposits101,467 94,151 
Borrowed funds15,803 10,752 
Total interest expense117,270 104,903 
Net interest income289,420 247,262 
Provision for credit losses - loans9,234 19,712 
Provision for credit losses - unfunded commitments1,772 (3,057)
Net interest income after provision for credit losses278,414 230,607 
Noninterest income:
Gain on sale of investments347 — 
Gain on sale of SBA loans2,403 2,057 
Service charges and fees34,026 30,784 
Trust and other financial services income18,067 15,858 
Gain on real estate owned, net90 342 
Income from bank-owned life insurance4,055 2,752 
Mortgage banking income1,067 1,771 
Other operating income6,756 5,729 
Total noninterest income66,811 59,293 
Noninterest expense:
Compensation and employee benefits121,806 109,753 
Premises and occupancy costs18,357 15,522 
Office operations7,535 5,887 
Collections expense1,543 1,166 
Processing expenses33,754 26,963 
Marketing expenses4,030 4,898 
Federal deposit insurance premiums2,604 4,624 
Professional services7,013 6,746 
Amortization of intangible assets4,355 940 
Merger, asset disposition and restructuring expense1,057 7,367 
Other expenses6,267 5,411 
Total noninterest expense208,321 189,277 
Income before income taxes136,904 100,623 
Income tax expense32,822 23,490 
Net income$104,082 77,133 
Basic earnings per share$0.71 0.60 
Diluted earnings per share$0.71 0.60 
Weighted average common shares outstanding - diluted146,990,065 128,347,141 
Annualized return on average equity11.03 %9.56 %
Annualized return on average assets1.25 %1.08 %
Annualized return on tangible common equity*14.77 %12.51 %
Efficiency ratio58.48 %61.74 %
Efficiency ratio, excluding certain items**57.02 %59.03 %
*    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 endedSix months ended June 30,
June 30, 2026March 31,
2026		June 30, 202520262025
Reconciliation of net income to adjusted net income:
Net income (GAAP)$53,546 50,536 33,675 104,082 77,133 
Non-GAAP adjustments
Add: merger, asset disposition and restructuring expense426 631 6,244 1,057 7,367 
Less: tax benefit of non-GAAP adjustments(119)(177)(1,748)(296)(2,063)
Adjusted net income (non-GAAP)$53,853 50,990 38,171 104,843 82,437 
Diluted earnings per share (GAAP)$0.36 0.34 0.26 0.71 0.60 
Diluted adjusted earnings per share (non-GAAP)$0.37 0.35 0.30 0.71 0.64 
Average equity$1,918,135 1,887,742 1,635,966 1,903,023 1,626,342 
Average assets16,863,639 16,832,777 14,468,197 16,848,293 14,435,522 
Annualized return on average equity (GAAP)11.20 %10.86 %8.26 %11.03 %9.56 %
Annualized return on average assets (GAAP)1.27 %1.22 %0.93 %1.25 %1.08 %
Annualized return on average equity, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP)11.26 %10.95 %9.36 %11.11 %10.22 %
Annualized return on average assets, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP)1.28 %1.23 %1.06 %1.25 %1.15 %
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.
June 30,
2026		December 31,
2025		June 30,
2025
Tangible common equity to assets
Total shareholders’ equity$1,927,407 1,890,424 1,642,068 
  Less: goodwill and intangible assets(480,309)(483,997)(382,894)
Tangible common equity$1,447,098 1,406,427 1,259,174 
Total assets$17,207,139 16,766,617 14,485,107 
Less: goodwill and intangible assets(480,309)(483,997)(382,894)
  Tangible assets$16,726,830 16,282,620 14,102,213 
Tangible common equity to tangible assets8.65 %8.64 %8.93 %
Tangible book value per share
Tangible common equity$1,447,098 1,406,427 1,259,174 
Common shares outstanding146,396,520 146,107,964 127,842,403 
Tangible book value per share9.88 9.63 9.85 
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 endedSix months ended June 30,
June 30,
2026		March 31,
2026		December 31,
2025		September 30, 2025June 30,
2025		20262025
Annualized return on average tangible common equity
Net income$53,546 50,536 45,713 3,167 33,675 104,082 77,133 
Average shareholders’ equity1,918,135 1,887,742 1,870,088 1,809,395 1,635,966 1,903,023 1,626,342 
Less: average goodwill and intangible assets(481,022)(483,240)(485,252)(409,875)(383,152)(482,125)(383,399)
Average tangible common equity$1,437,113 1,404,502 1,384,836 1,399,520 1,252,814 1,420,898 1,242,943 
Annualized return on average tangible common equity14.94 %14.59 %13.10 %0.90 %10.78 %14.77 %12.51 %
Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses
Noninterest expense$104,283 104,038 113,521 133,498 97,540 208,321 189,277 
Less: amortization expense(2,166)(2,189)(2,257)(1,974)(436)(4,355)(940)
Less: merger, asset disposition and restructuring expenses(426)(631)(4,160)(31,260)(6,244)(1,057)(7,367)
Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses$101,691 101,218 107,104 100,264 90,860 202,909 180,970 
Net interest income$146,938 142,482 142,166 135,974 119,444 289,420 247,262 
Noninterest income34,229 32,582 37,777 32,198 30,938 66,811 59,293 
  Less: gain on the sale of investments(336)(11)(142)(36)— (347)— 
Net interest income plus noninterest income, excluding gain on sale of investments $180,831 175,053 179,801 168,136 150,382 355,884 306,555 
Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses56.24 %57.82 %59.57 %59.63 %60.42 %57.02 %59.03 %
*    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 June 30, 2026
BalancePercent of
total deposits		Number of
relationships
Uninsured deposits per the Call Report (1)$3,945,748 27.9 %6,287 
Less intercompany deposit accounts1,427,595 10.1 %12 
Less collateralized deposit accounts445,460 3.2 %253 
Uninsured deposits excluding intercompany and collateralized accounts$2,072,693 14.6 %6,022
(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 $185 million, or 1.3% of total deposits, as of June 30, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $404 million, or 2.9% of total deposits, as of June 30, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $344,187 as of June 30, 2026.

The following table provides additional details for the Company’s deposit portfolio:
As of June 30, 2026
BalancePercent of
total deposits		Number of
accounts
Personal noninterest bearing demand deposits$1,750,490 12.3 %310,031 
Business noninterest bearing demand deposits1,441,070 10.2 %47,768 
Personal interest-bearing demand deposits1,372,409 9.7 %54,166 
Business interest-bearing demand deposits1,544,10910.9 %8,805 
Personal money market deposits1,788,118 12.6 %28,151 
Business money market deposits978,557 6.9 %3,179 
Savings deposits2,459,255 17.4 %187,619 
Time deposits2,827,810 20.0 %76,448 
Total deposits $14,161,818 100.0 %716,167

Our average deposit account balance as of June 30, 2026 was $19,774. The Company’s insured cash sweep deposit balance was $743 million as of June 30, 2026.



11

Northwest Bancshares, Inc. and Subsidiaries
Regulatory Capital Requirements (Unaudited)
(dollars in thousands)
 At June 30, 2026
 Actual (1)Minimum capital
requirements (2)		Well capitalized
requirements 
 AmountRatioAmountRatioAmountRatio
Total capital (to risk weighted assets)      
Northwest Bancshares, Inc.$1,934,993 15.17 %$1,339,188 10.50 %$1,275,417 10.00 %
Northwest Bank1,789,556 14.04 %1,337,925 10.50 %1,274,214 10.00 %
Tier 1 capital (to risk weighted assets)    
Northwest Bancshares, Inc.1,557,333 12.21 %1,084,105 8.50 %765,250 6.00 %
Northwest Bank1,630,118 12.79 %1,083,082 8.50 %1,019,371 8.00 %
Common equity tier 1 capital (to risk weighted assets)    
Northwest Bancshares, Inc.1,557,333 12.21 %892,792 7.00 %N/AN/A
Northwest Bank1,630,118 12.79 %891,950 7.00 %828,239 6.50 %
Tier 1 capital (leverage) (to average assets)    
Northwest Bancshares, Inc.1,557,333 9.37 %664,478 4.00 %N/AN/A
Northwest Bank1,630,118 9.83 %663,100 4.00 %828,874 5.00 %
(1)     June 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)
June 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$39,877 — (7,237)32,640 5.75 
   Municipal securities:
   Due in one year or less1,250 1 — 1,251 0.47 
Due after one year through five years5,605 13 (22)5,596 2.18 
Due after five years through ten years20,303 160 (1,333)19,130 6.51 
Due after ten years48,105 182 (6,234)42,053 9.14 
   Corporate debt issues:
Due after one year through five years16,405 15 (107)16,313 2.92 
   Due after five years through ten years76,798 1,557 (635)77,720 5.59 
Due after ten years5,000 25 — 5,025 4.36 
   Mortgage-backed agency securities:
   Fixed rate pass-through527,666 1,750 (14,661)514,755 7.24 
   Variable rate pass-through364 5 — 369 3.00 
   Fixed rate agency CMBS634,265 198 (79,321)555,142 3.67 
   Variable rate agency CMBS6,283 — (5)6,278 1.74 
   Fixed rate agency CMOs562,128 478 (37,872)524,734 4.50 
   Variable rate agency CMOs28,116 62 (5)28,173 4.77 
   Total mortgage-backed agency securities1,758,822 2,493 (131,864)1,629,451 5.07 
   Total marketable securities available-for-sale$1,972,165 4,446 (147,432)1,829,179 5.18 
Marketable securities held-to-maturity
Government sponsored
Due after one year through five years$107,990 — (8,338)99,652 2.49 
   Mortgage-backed agency securities:    
   Fixed rate pass-through91,615 — (10,366)81,249 3.92 
   Variable rate pass-through294 1 — 295 4.94 
   Fixed rate agency CMBS72,220 — (12,750)59,470 3.52 
   Fixed rate agency CMOs358,155 — (48,933)309,222 5.38 
   Variable rate agency CMOs528 — — 528 3.58 
   Total mortgage-backed agency securities522,812 1 (72,049)450,764 4.87 
   Total marketable securities held-to-maturity$630,802 1 (80,387)550,416 4.46 

13

Northwest Bancshares, Inc. and Subsidiaries
Asset Quality (Unaudited)
(dollars in thousands)
 June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025
Nonaccrual loans:     
Residential mortgage loans$11,766 10,500 12,247 11,497 8,482 
Home equity loans5,370 4,780 3,755 6,979 3,507 
Consumer loans4,791 5,732 5,711 5,898 4,418 
Commercial real estate loans47,440 47,337 57,485 82,580 62,091 
Commercial and industrial loans21,984 22,594 28,085 21,371 23,896 
Total nonaccrual loans91,351 90,943 107,283 128,325 102,394 
Loans 90 days past due and still accruing573 543 646 701 493 
Nonperforming loans91,924 91,486 107,929 129,026 102,887 
Real estate owned, net63 65 76 174 48 
Nonperforming assets$91,987 91,551 108,005 129,200 102,935 
Nonperforming loans to total loans0.69 %0.70 %0.83 %1.00 %0.91 %
Nonperforming assets to total assets0.53 %0.54 %0.64 %0.79 %0.71 %
Allowance for credit losses to total loans1.13 %1.15 %1.15 %1.22 %1.14 %
Allowance for credit losses to nonperforming loans162.44 %164.01 %139.18 %121.99 %125.53 %

14

Northwest Bancshares, Inc. and Subsidiaries
Loans by Credit Quality Indicators (Unaudited)
(dollars in thousands)
At June 30, 2026PassSpecial mention *Substandard **DoubtfulLossLoans
receivable
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 
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 
*    Includes $79.1 million, $85.6 million, $38.2 million, $41.0 million, and $4.0 million of acquired loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.
**    Includes $163.0 million, $100.4 million, $93.2 million, $96.9 million, and $19.2 million of acquired loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.
15

Northwest Bancshares, Inc. and Subsidiaries
Loan Delinquency (Unaudited)
(dollars in thousands)
June 30, 2026*March 31, 2026*December 31, 2025*September 30, 2025*June 30, 2025*
          
Loans delinquent 30 days to 59 days:  
Residential mortgage loans$1,140 — %$44,502 1.5 %$41,180 1.3 %$1,639 0.1 %$561 — %
Home equity loans6,611 0.4 %5,932 0.4 %6,488 0.4 %4,644 0.3 %4,664 0.4 %
Consumer loans11,812 0.4 %10,429 0.4 %14,063 0.5 %12,257 0.5 %9,174 0.4 %
Commercial real estate loans4,370 0.1 %17,541 0.6 %28,645 0.9 %14,600 0.4 %4,585 0.2 %
Commercial and industrial loans2,844 0.1 %7,127 0.3 %5,657 0.2 %9,974 0.4 %5,569 0.3 %
Total loans delinquent 30 days to 59 days$26,777 0.2 %$85,531 0.7 %$96,033 0.7 %$43,114 0.3 %$24,553 0.2 %
Loans delinquent 60 days to 89 days:         
Residential mortgage loans$7,468 0.2 %$2,531 0.1 %$10,934 0.4 %$7,917 0.3 %$8,958 0.3 %
Home equity loans2,116 0.1 %2,946 0.2 %2,316 0.2 %2,671 0.2 %985 0.1 %
Consumer loans3,508 0.1 %4,264 0.2 %4,599 0.2 %3,691 0.2 %3,233 0.1 %
Commercial real estate loans3,208 0.1 %25,859 0.8 %12,941 0.4 %1,575 — %13,240 0.5 %
Commercial and industrial loans5,837 0.2 %8,432 0.3 %2,899 0.1 %1,915 0.1 %2,031 0.1 %
Total loans delinquent 60 days to 89 days$22,137 0.2 %$44,032 0.3 %$33,689 0.3 %$17,769 0.1 %$28,447 0.3 %
Loans delinquent 90 days or more:         
Residential mortgage loans$10,671 0.4 %$6,468 0.2 %$10,001 0.3 %$9,427 0.3 %$6,905 0.2 %
Home equity loans4,343 0.3 %3,263 0.2 %2,492 0.2 %2,963 0.2 %1,879 0.2 %
Consumer loans4,038 0.1 %4,561 0.2 %4,893 0.2 %4,865 0.2 %3,486 0.2 %
Commercial real estate loans29,840 1.0 %18,282 0.6 %32,745 1.0 %56,453 1.6 %41,875 1.5 %
Commercial and industrial loans15,659 0.5 %11,266 0.4 %16,269 0.6 %9,490 0.4 %10,433 0.5 %
Total loans delinquent 90 days or more$64,551 0.5 %$43,840 0.3 %$66,400 0.5 %$83,198 0.6 %$64,578 0.6 %
Total loans delinquent$113,465 0.9 %$173,403 1.3 %$196,122 1.5 %$144,081 1.1 %$117,578 1.0 %
*    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
 June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025
Beginning balance$150,045 150,212 157,396 129,159 122,809 
Initial allowance on loans purchased with credit deterioration— — — 6,029 — 
Provision4,280 4,954 5,743 31,394 11,456 
Charge-offs residential mortgage(465)(1,001)(228)(137)(273)
Charge-offs home equity(383)(291)(558)(336)(413)
Charge-offs consumer(4,121)(4,531)(4,139)(3,994)(3,331)
Charge-offs commercial real estate(889)(254)(9,765)(4,312)(293)
Charge-offs commercial and industrial(945)(1,155)(532)(2,395)(3,597)
Recoveries1,799 2,111 2,295 1,988 2,801 
Ending balance$149,321 150,045 150,212 157,396 129,159 
Net charge-offs to average loans, annualized0.15 %0.16 %0.40 %0.29 %0.18 %


Six months ended June 30,
20262025
Beginning balance$150,212 116,819 
Provision9,234 19,712 
Charge-offs residential mortgage(1,466)(861)
Charge-offs home equity(674)(686)
Charge-offs consumer(8,652)(7,136)
Charge-offs commercial real estate(1,143)(409)
Charge-offs commercial and industrial(2,100)(4,168)
Recoveries3,910 5,888 
Ending balance$149,321 129,159 
Net charge-offs to average loans, annualized0.16 %0.13 %



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 
June 30, 2026March 31, 2026December 31, 2025September 30, 2025June 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$3,030,237 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 %$3,091,324 29,978 3.88 %
Home equity loans1,494,049 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 %1,145,655 16,265 5.69 %
Consumer loans2,658,435 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 %2,073,103 28,648 5.54 %
Commercial real estate loans3,131,545 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 %2,836,757 43,457 6.06 %
Commercial and industrial loans2,779,969 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 %2,102,115 37,287 7.02 %
Total loans receivable (a) (b) (d)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 %11,248,954 155,635 5.55 %
Mortgage-backed securities (c)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 %1,790,423 12,154 2.72 %
Investment securities (c) (d)299,068 2,652 3.55 %317,996 2,566 3.23 %309,147 2,339 3.03 %301,719 2,153 2.85 %266,053 1,668 2.51 %
FHLB stock, at cost34,416 738 8.60 %36,220 768 8.59 %32,876 701 8.46 %30,434 652 8.51 %17,838 318 7.15 %
Other interest-earning deposits141,898 1,436 4.00 %139,970 871 2.49 %170,370 1,905 4.37 %164,131 1,700 4.05 %220,416 2,673 4.85 %
Total interest-earning assets15,802,152 205,975 5.23 %15,727,019 202,416 5.22 %15,386,966 203,860 5.26 %14,874,990 195,648 5.22 %13,543,684 172,448 5.11 %
Noninterest-earning assets (e)1,061,487 1,105,758 1,107,042 1,067,450 924,513 
Total assets$16,863,639   $16,832,777 $16,494,008 $15,942,440 $14,468,197 
Liabilities and shareholders’ equity:            
Interest-bearing liabilities:               
Savings deposits$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 %$2,212,175 6,521 1.18 %
Interest-bearing demand deposit2,973,878 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 %2,609,887 7,192 1.11 %
Money market deposit accounts2,728,590 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 %2,121,088 9,658 1.83 %
Time deposits2,882,261 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 %2,599,254 23,455 3.62 %
Total interest bearing deposits (g)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 %9,542,404 46,826 1.97 %
Borrowed funds (f)379,262 3,740 3.96 %404,547 3,875 3.88 %354,894 3,425 3.83 %347,357 3,366 3.84 %208,342 2,046 3.94 %
Subordinated debt114,800 2,200 7.58 %114,800 2,204 7.68 %114,800 2,285 7.79 %114,745 1,335 4.65 %114,661 1,148 4.00 %
Junior subordinated debentures130,181 1,878 5.70 %130,121 1,906 5.86 %130,051 2,002 6.02 %129,986 2,123 6.39 %129,921 2,106 6.41 %
Total interest-bearing liabilities11,656,494 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 %9,995,328 52,126 2.09 %
Noninterest-bearing demand deposits (g)3,101,574 3,074,939 3,105,108 2,959,871 2,611,597 
Noninterest-bearing liabilities187,436 248,832 252,960 244,306 225,306 
Total liabilities14,945,504   14,945,035 14,623,920 14,133,045 12,832,231   
Shareholders’ equity1,918,135 1,887,742 1,870,088 1,809,395 1,635,966 
Total liabilities and shareholders’ equity$16,863,639   $16,832,777 $16,494,008 $15,942,440 $14,468,197   
Net interest income/Interest rate spread FTE 147,773 3.23 %143,348 3.16 %143,201 3.12 %136,944 3.09 %120,322 3.02 %
Net interest-earning assets/Net interest margin FTE$4,145,658  3.75 %$4,105,755 3.70 %$4,121,114 3.69 %$3,946,122 3.65 %$3,548,356 3.56 %
Tax equivalent adjustment (d)835 866 1,035 970 878 
Net interest income, GAAP basis146,938 142,482 142,166 135,974 119,444 
Ratio of interest-earning assets to interest-bearing liabilities1.36X  1.35X1.37X1.36X1.36X
(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 1.43%, 1.48%, 1.53%, 1.55%, 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.
 Six months ended June 30,
 20262025
Average
balance		InterestAvg.
yield/cost		Average
balance		InterestAvg.
yield/cost
Assets      
Interest-earning assets:      
Residential mortgage loans$3,054,223 60,815 3.98 %$3,123,353 60,372 3.87 %
Home equity loans1,497,606 43,310 5.83 %1,142,708 32,429 5.72 %
Consumer loans2,594,507 70,334 5.47 %2,011,012 54,921 5.51 %
Commercial real estate loans3,236,260 100,628 6.18 %2,858,064 99,973 6.96 %
Commercial loans2,706,468 89,250 6.56 %2,077,799 73,299 7.02 %
Loans receivable (a) (b) (d)13,089,064 364,337 5.61 %11,212,936 320,994 5.77 %
Mortgage-backed securities (c)2,190,996 35,023 3.20 %1,781,959 23,884 2.68 %
Investment securities (c) (d)308,480 5,218 3.38 %264,945 3,269 2.47 %
FHLB stock, at cost35,313 1,505 8.60 %19,342 684 7.13 %
Other interest-earning deposits140,934 2,307 3.26 %231,914 5,089 4.36 %
Total interest-earning assets15,764,787 408,390 5.22 %13,511,096 353,920 5.28 %
Noninterest-earning assets (e)1,083,506 924,426  
Total assets$16,848,293   $14,435,522   
Liabilities and shareholders’ equity      
Interest-bearing liabilities:     
Savings deposits$2,421,847 12,603 1.05 %$2,203,289 12,973 1.19 %
Interest-bearing demand deposits2,986,607 17,163 1.16 %2,601,604 14,255 1.10 %
Money market deposit accounts2,669,291 24,851 1.88 %2,102,124 18,964 1.82 %
Time deposits2,924,445 46,850 3.23 %2,614,238 47,959 3.70 %
Total interest bearing deposits (g)11,002,190 101,467 1.86 %9,521,255 94,151 1.99 %
Borrowed funds (f)391,835 7,615 3.92 %216,189 4,252 3.97 %
Subordinated debt114,800 4,405 7.63 %114,618 2,296 4.01 %
Junior subordinated debentures130,151 3,783 5.78 %129,889 4,204 6.44 %
Total interest-bearing liabilities11,638,976 117,270 2.03 %9,981,951 104,903 2.12 %
Noninterest-bearing demand deposits (g)3,088,330 2,600,113  
Noninterest-bearing liabilities217,964 227,116  
Total liabilities14,945,270   12,809,180   
Shareholders’ equity1,903,023 1,626,342   
Total liabilities and shareholders’ equity$16,848,293   $14,435,522   
Net interest income/Interest rate spread 291,120 3.19 % 249,017 3.16 %
Net interest-earning assets/Net interest margin$4,125,811  3.72 %$3,529,145  3.72 %
Tax equivalent adjustment (d)1,700 1,755 
Net interest income, GAAP basis289,420 247,262 
Ratio of interest-earning assets to interest-bearing liabilities1.35X  1.35X  
(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 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 1.57%, respectively.
19

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Press Releases

Other Documents