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Investor releaseQuarter not tagged2026-08-25Northwest Bank Plans New Corporate Headquarters in Dublin to Support Central Ohio Growth
PR Newswire
Northwest Bank Plans New Corporate Headquarters in Dublin to Support Central Ohio Growth
75,000-square-foot, purpose-built headquarters to be part of Dublin's Bridge North Development. COLUMBUS, Ohio, Aug. 25, 2026 /PRNewswire/ -- Northwest Bank, a full-service financial institution offering a complete line of business and personal banking solutions, announced today plans for its new corporate headquarters in Dublin, OH, located in Bridge North, a new mixed-use development by the Daimler Group in Dublin's Bridge Street District. The mixed-use development will include office, hospitality, retail and public gathering spaces, creating a campus-style environment designed to support collaboration among employees, customers and community partners. The company anticipates moving its current headquarters in Easton to a new 75,000-square-foot building in the first half of 2029. The purpose-built space is designed to allow Northwest Bank's headquarters workforce to more than double to 300 by 2034, and its initial lease term is expected to be 15 years. The headquarters is expected to include a dedicated financial center on the ground floor, including wealth management advisory services. "We are excited to become part of the Dublin community. This investment represents an important step in Northwest Bank's continued growth and transformation," said Louis J. Torchio, president and chief executive officer of Northwest Bank. "Dublin's collaborative approach to supporting businesses makes it an ideal location for Northwest Bank's future headquarters. This move supports our long-term growth strategy, strengthens our ability to attract top talent, and positions us for continued success." Under an Economic Development Agreement (EDA) with Northwest Bank, the City of Dublin will provide a performance-based incentive equal to 15% of net new employee payroll withholdings generated between 2030 and 2034, capped at $460,000 over the five-year term. The City will also provide a $50,000 location grant upon execution of the company's 15-year lease agreement and issuance of an occupancy permit. Dublin City Council approved the EDA following a second reading during its Aug. 24, 2026, meeting. "Welcoming Northwest Bank to Dublin is an exciting milestone for our community and for the continued evolution of the Bridge Street District," said Dublin's City Manager Megan O'Callaghan. "This investment reflects the kind of growth we've worked to foster by partnering with developers…Read full documentShow less
75,000-square-foot, purpose-built headquarters to be part of Dublin's Bridge North Development. COLUMBUS, Ohio, Aug. 25, 2026 /PRNewswire/ -- Northwest Bank, a full-service financial institution offering a complete line of business and personal banking solutions, announced today plans for its new corporate headquarters in Dublin, OH, located in Bridge North, a new mixed-use development by the Daimler Group in Dublin's Bridge Street District. The mixed-use development will include office, hospitality, retail and public gathering spaces, creating a campus-style environment designed to support collaboration among employees, customers and community partners. The company anticipates moving its current headquarters in Easton to a new 75,000-square-foot building in the first half of 2029. The purpose-built space is designed to allow Northwest Bank's headquarters workforce to more than double to 300 by 2034, and its initial lease term is expected to be 15 years. The headquarters is expected to include a dedicated financial center on the ground floor, including wealth management advisory services. "We are excited to become part of the Dublin community. This investment represents an important step in Northwest Bank's continued growth and transformation," said Louis J. Torchio, president and chief executive officer of Northwest Bank. "Dublin's collaborative approach to supporting businesses makes it an ideal location for Northwest Bank's future headquarters. This move supports our long-term growth strategy, strengthens our ability to attract top talent, and positions us for continued success." Under an Economic Development Agreement (EDA) with Northwest Bank, the City of Dublin will provide a performance-based incentive equal to 15% of net new employee payroll withholdings generated between 2030 and 2034, capped at $460,000 over the five-year term. The City will also provide a $50,000 location grant upon execution of the company's 15-year lease agreement and issuance of an occupancy permit. Dublin City Council approved the EDA following a second reading during its Aug. 24, 2026, meeting. "Welcoming Northwest Bank to Dublin is an exciting milestone for our community and for the continued evolution of the Bridge Street District," said Dublin's City Manager Megan O'Callaghan. "This investment reflects the kind of growth we've worked to foster by partnering with developers, investing in infrastructure and creating places where businesses and people can thrive." "We know that companies have many options when looking for commercial real estate to meet their growth needs, and we are delighted that Northwest Bank chose to partner with The Daimler Group and the City of Dublin in making Bridge North home for its new corporate headquarters," commented Paul Ghidotti, president of the Daimler Group. "We look forward to a long and productive partnership with the Northwest team." In addition to the Daimler Group, Northwest Bank is partnering with local architectural firm Moody Nolan for the space design, and JLL, Inc. for commercial real estate brokerage and project management services. Founded in 1896 in Bradford, Pennsylvania, Northwest Bank has spent more than 130 years helping customers, businesses and communities achieve what's next. In 2021, the company relocated its corporate headquarters to Columbus to support its long-term growth strategy and access one of the Midwest's strongest financial talent markets. Since then, Northwest has continued to expand its presence in Central Ohio, making the region a key driver of the company's future growth. Northwest recently opened its first financial center in New Albany, establishing its consumer banking presence in the Central Ohio region, and plans to add four more locations in and around Columbus by the second quarter of 2027. About Northwest Bancshares, Inc.Headquartered in Columbus, Ohio, Northwest Bancshares, Inc. is the bank holding company of Northwest Bank. Founded in 1896, Northwest Bank is a full-service financial institution offering a complete range of business and personal banking products, as well as employee benefits and wealth management services. Northwest operates 152 full-service financial centers and 11 drive-up locations across Pennsylvania, New York, Ohio and Indiana, and provides customers with fee-free access to more than 55,000 ATMs. Northwest Bancshares, Inc.'s common stock is listed on the NASDAQ Global Select Market (NWBI). Forward-Looking StatementsThis release may contain forward-looking statements with respect to Northwest Bancshares, Inc. (the "Company") including, without limitation, statements relating to the future business plans of the Company. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 under the section entitled "Item 1A - Risk Factors," and from time to time in other filings made by the Company with the SEC. These forward-looking statements speak only at the date of the release. The Company expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Company's expectations with regard to any change in events, conditions or circumstances on which any such statement is based. Media Contact: (814) 217-8998 [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/northwest-bank-plans-new-corporate-headquarters-in-dublin-to-support-central-ohio-growth-302858821.html
Investor releaseQuarter not tagged2026-08-25Northwest Bank to Move Corporate Headquarters to Dublin, Ohio
MT Newswires
Northwest Bank to Move Corporate Headquarters to Dublin, Ohio
Northwest Bancshares' (NWBI) Northwest Bank plans to relocate its corporate headquarters to Dublin,
Investor releaseQuarter not tagged2026-07-30Northwest Bancshares Inc (NWBI) (Q2 2026) Earnings Call Highlights: Record Net Income and ...
GuruFocus.com
Northwest Bancshares Inc (NWBI) (Q2 2026) Earnings Call Highlights: Record Net Income and ...
This article first appeared on GuruFocus. Net Income: Record $54 million for Q2 2026, a 59% year-over-year increase. Diluted Earnings Per Share (EPS): $0.36 per share (GAAP); $0.37 per share (adjusted). Total Revenue: $181.2 million, up 3.5% quarter-over-quarter and 20.5% year-over-year. Net Interest Margin (NIM): 375 basis points, a 5-basis-point improvement from the prior quarter. Adjusted Efficiency Ratio: 56.2%, a 158-basis-point improvement quarter-over-quarter. Return on Average Assets (ROAA): 1.27% (GAAP); 1.28% (adjusted). Return on Tangible Common Equity (ROTCE): 14.9% (GAAP); 15.03% (adjusted). Average C&I Loan Growth: $148 million increase in Q2, representing 32% year-over-year growth. Period-End Loan Growth: $174 million increase to $13.2 billion. Average Total Deposit Growth: $87 million increase quarter-over-quarter. Cost of Deposits: Declined 5 basis points to 1.43%. Non-Interest Income: Increased $1.6 million quarter-over-quarter and $3.3 million (10.6%) year-over-year. Pretax Pre-Provision Net Revenue (PPNR): $77.3 million, an 8% increase from Q1 2026 and a 31% increase year-over-year on an adjusted basis. Net Charge-Offs: 15 basis points annualized. Dividend: $0.20 per share, marking the 127th consecutive quarterly cash dividend. Warning! GuruFocus has detected 6 Warning Sign with NWBI. Is NWBI fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record net income of $54 million in Q2 2026, with 59% year-over-year growth. Fourth consecutive quarter of net interest margin improvement, reaching 3.75%. Strong C&I loan growth of $148 million in average balances, up 32% year-over-year. Fourth consecutive quarter of lower deposit costs, declining 5 basis points to 1.43%. Achieved static tangible book value earn-back from Penns Woods acquisition within one year, ahead of expectations. Classified loans increased due to migration of acquired loans and downgrades in the healthcare portfolio. Commercial real estate loan runoff continues to offset production, keeping balances flat. Expenses expected to rise in the second half due to investments in new branches and talent. Net charge-offs projected to increase from current low levels to the low-to-middle of the guidance range. Tax rate drifting up to 24% due to strong…Read full documentShow less
This article first appeared on GuruFocus. Net Income: Record $54 million for Q2 2026, a 59% year-over-year increase. Diluted Earnings Per Share (EPS): $0.36 per share (GAAP); $0.37 per share (adjusted). Total Revenue: $181.2 million, up 3.5% quarter-over-quarter and 20.5% year-over-year. Net Interest Margin (NIM): 375 basis points, a 5-basis-point improvement from the prior quarter. Adjusted Efficiency Ratio: 56.2%, a 158-basis-point improvement quarter-over-quarter. Return on Average Assets (ROAA): 1.27% (GAAP); 1.28% (adjusted). Return on Tangible Common Equity (ROTCE): 14.9% (GAAP); 15.03% (adjusted). Average C&I Loan Growth: $148 million increase in Q2, representing 32% year-over-year growth. Period-End Loan Growth: $174 million increase to $13.2 billion. Average Total Deposit Growth: $87 million increase quarter-over-quarter. Cost of Deposits: Declined 5 basis points to 1.43%. Non-Interest Income: Increased $1.6 million quarter-over-quarter and $3.3 million (10.6%) year-over-year. Pretax Pre-Provision Net Revenue (PPNR): $77.3 million, an 8% increase from Q1 2026 and a 31% increase year-over-year on an adjusted basis. Net Charge-Offs: 15 basis points annualized. Dividend: $0.20 per share, marking the 127th consecutive quarterly cash dividend. Warning! GuruFocus has detected 6 Warning Sign with NWBI. Is NWBI fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record net income of $54 million in Q2 2026, with 59% year-over-year growth. Fourth consecutive quarter of net interest margin improvement, reaching 3.75%. Strong C&I loan growth of $148 million in average balances, up 32% year-over-year. Fourth consecutive quarter of lower deposit costs, declining 5 basis points to 1.43%. Achieved static tangible book value earn-back from Penns Woods acquisition within one year, ahead of expectations. Classified loans increased due to migration of acquired loans and downgrades in the healthcare portfolio. Commercial real estate loan runoff continues to offset production, keeping balances flat. Expenses expected to rise in the second half due to investments in new branches and talent. Net charge-offs projected to increase from current low levels to the low-to-middle of the guidance range. Tax rate drifting up to 24% due to stronger earnings, reducing net income growth. Here are the key highlights from the Northwest Bancshares Inc (NASDAQ:NWBI) Q2 2026 earnings call, focusing on the most significant Q&A exchanges. Q: Can you provide an update on the performance of the Penns Woods acquisition and the timeline for tangible book value earn-back?A: (Douglas Schosser, CFO) We are very pleased with the transaction. We have already achieved the full static tangible book value earn-back within one year of closing, significantly ahead of the initial 2.9-year projection. We expect to achieve the full crossover earn-back by the end of 2026. Q: What is the outlook for net interest margin (NIM) given the competitive environment for loans and deposits?A: (Douglas Schosser, CFO) We are guiding for NIM to be in the 3.73% to 3.75% range for the full year, assuming the Fed funds rate is unchanged. While we are pulling levers like managing deposit costs and restructuring sub-debt, we are being realistic about the competitive pressures on both loan yields and deposit pricing. Q: What drove the increase in classified loans this quarter, and should we expect higher charge-offs?A: (Douglas Schosser, CFO) The increase was partly due to the continued migration of acquired loans from Penns Woods to our credit administration standards and some downgrades in the healthcare book. However, we have no expectation that this increase will result in higher overall charge-offs, as our NPA levels remain flat. Q: What are the capital deployment priorities following the successful Penns Woods integration?A: (Douglas Schosser, CFO & Louis Torchio, CEO) Our priorities remain unchanged: first, support organic growth; second, maintain the dividend. Between M&A and share buybacks, we are opportunistic. Our immediate focus is on restructuring sub-debt to improve NIM. On M&A, we are open to discussions that are highly accretive and fit our strategic plan, but we are currently focused on optimizing our own financial performance. Q: Can you provide more detail on the expense guidance, which implies a step-up in the back half of the year?A: (Douglas Schosser, CFO) The step-up is partly due to the non-recurrence of a $3.2 million FDIC insurance benefit in Q2. A sustainable quarterly run rate is in the $107 million to $109 million range. We are investing in new branches and talent, which creates upward pressure, but we still expect to generate positive operating leverage for the full year. Q: What are the expectations for commercial real estate (CRE) loan growth for the rest of the year?A: (Louis Torchio, CEO) We expect CRE to be largely flat with a slight decline as we continue to see runoff. However, we are retooling our go-to-market strategy with new hires and products to mitigate this churn and expect to be in a better position by year-end. Q: What drove the strong increase in trust and financial services fee income this quarter?A: (Douglas Schosser, CFO) The performance was driven by strong reps in our branches, a new wealth management leader retooling the business, and the benefit of higher overall market valuations on the assets we manage. We see continued opportunity to grow this business across our branch network. Q: What is the outlook for net charge-offs (NCOs) in the second half of the year, given the low level in Q2?A: (Douglas Schosser, CFO) The guidance for NCOs to be in the low-to-middle of our range is partly a reversion to the mean, as we cannot run at the Q2 level of 15 basis points forever. We have line of sight on some potential resolutions in our NPA portfolio, but we do not expect to hit the top end of our guidance range. For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Investor releaseQuarter not tagged2026-07-28Northwest Bancshares (NWBI) Beats Second Quarter Estimates, Is It Fully Priced?
Simply Wall St.
Northwest Bancshares (NWBI) Beats Second Quarter Estimates, Is It Fully Priced?
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Northwest Bancshares (NWBI) reported second quarter 2026 results that exceeded market expectations, with higher net interest income and net income, stronger commercial and industrial loan activity, and an improved net interest margin supporting the update. See our latest analysis for Northwest Bancshares. The latest earnings and dividend update appears to have supported existing momentum in Northwest Bancshares, with the stock delivering an 8.83% 90 day share price return and a 29.49% 1 year total shareholder return, pointing to interest that has been building rather than fading. If you are considering how to position around financials after this update, it can help to broaden your watchlist with other ideas that share similar quality traits. One place to start is our screener of 18 top founder-led companies After a strong run in Northwest Bancshares and a fresh set of better than expected quarterly figures, the share price now sits slightly above the average analyst target while still carrying a sizeable intrinsic value discount. How does that spread stack up for you? Northwest Bancshares last closed at $15.41 versus a narrative fair value of $15.00, a small premium that frames how analysts see the stock today. Read the complete narrative. Want to see what is sitting behind that tight gap between price and fair value? The narrative focuses on a combination of revenue expansion, margin uplift and a reset earnings multiple. If you are curious which mix of growth, profitability and discount rate assumptions supports a fair value that barely differs from today, the full narrative lays out those moving parts in detail. Result: Fair Value of $15.00 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, you still need to weigh the risk that higher branch costs and slower regional growth, as well as weaker credit quality in areas like multifamily construction, could chip away at the Northwest Bancshares narrative. Find out about the key risks to this Northwest Bancshares narrative. The earlier narrative framed Northwest Bancshares as slightly overvalued relative to a $15.00 fair value based on analyst targets. Our DCF model points in the opposite direction. It values the stock at $26.49, which is material…Read full documentShow less
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Northwest Bancshares (NWBI) reported second quarter 2026 results that exceeded market expectations, with higher net interest income and net income, stronger commercial and industrial loan activity, and an improved net interest margin supporting the update. See our latest analysis for Northwest Bancshares. The latest earnings and dividend update appears to have supported existing momentum in Northwest Bancshares, with the stock delivering an 8.83% 90 day share price return and a 29.49% 1 year total shareholder return, pointing to interest that has been building rather than fading. If you are considering how to position around financials after this update, it can help to broaden your watchlist with other ideas that share similar quality traits. One place to start is our screener of 18 top founder-led companies After a strong run in Northwest Bancshares and a fresh set of better than expected quarterly figures, the share price now sits slightly above the average analyst target while still carrying a sizeable intrinsic value discount. How does that spread stack up for you? Northwest Bancshares last closed at $15.41 versus a narrative fair value of $15.00, a small premium that frames how analysts see the stock today. Read the complete narrative. Want to see what is sitting behind that tight gap between price and fair value? The narrative focuses on a combination of revenue expansion, margin uplift and a reset earnings multiple. If you are curious which mix of growth, profitability and discount rate assumptions supports a fair value that barely differs from today, the full narrative lays out those moving parts in detail. Result: Fair Value of $15.00 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, you still need to weigh the risk that higher branch costs and slower regional growth, as well as weaker credit quality in areas like multifamily construction, could chip away at the Northwest Bancshares narrative. Find out about the key risks to this Northwest Bancshares narrative. The earlier narrative framed Northwest Bancshares as slightly overvalued relative to a $15.00 fair value based on analyst targets. Our DCF model points in the opposite direction. It values the stock at $26.49, which is materially above the current $15.41 share price and identifies it as undervalued. The gap between a fair value of $15.00 from analyst targets and $26.49 from the SWS DCF model is wide. It reflects very different views on how long earnings growth and cash generation can be sustained. Which set of assumptions appears more realistic to you if cash flows are what ultimately matter? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Northwest Bancshares for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 51 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. If the mix of optimism and caution around Northwest Bancshares feels finely balanced, do not sit back and wait for consensus to form. Take a closer look at what the market is rewarding and weigh it against your own expectations, then review the 3 key rewards. Do not leave your cash sitting on the sidelines when you could be lining up your next move with focused stock ideas on Simply Wall Street. Target potential mispricings by scanning 51 high quality undervalued stocks that pair solid fundamentals with room for sentiment to catch up. Strengthen your income stream by reviewing 8 dividend fortresses that aim to combine higher yields with business resilience. Dial back risk without checking out of equities by searching through 84 resilient stocks with low risk scores tailored for more defensive positioning. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NWBI. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]
TranscriptFY2026 Q22026-07-28FY2026 Q2 earnings call transcript
Earnings source - 142 paragraphs
FY2026 Q2 earnings call transcript
Thank you for standing by. My name is Frilla, and I will be your conference operator today. At this time, I would like to welcome everyone to the Northwest Bancshares Inc. Q2 2026 earnings call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star one again. Thank you.
I'd now like to turn the conference over to Michael Perry, Northwest Managing Director of Corporate Development and Strategy and Investor Relations. You may begin.
Good morning, everyone, and thank you, operator. Welcome to Northwest Bancshares' second quarter 2026 earnings call. Joining me today are Lou Torchio, President and CEO of Northwest Bancshares, Doug Schosser, our Chief Financial Officer, and T.K. Creal, our Chief Credit Officer. During this call, we will refer to information included in the supplemental second quarter 2026 earnings presentation, which is available on our investor relations website. If you'd like to read our forward-looking and other related disclosures, you can find them on slide two. Thank you. Now I'll hand it over to Lou.
Good morning, everyone. Thank you for joining us today to discuss our second quarter 2026 results. I'll let Doug take you through the details of our second quarter performance in a moment. First, I want to reflect on several important milestones, including record net income and how they have contributed to our achievements and momentum in the second quarter, positioning us well for continued growth in 2026. We recently passed the one-year anniversary of the closing of the Penns Woods acquisition, which has been a very successful accretive transaction for us.
On a static basis, we have achieved the full tangible book value earn back within one year and expect to achieve the full earn back on a crossover basis by the end of 2026, significantly ahead of our expectations when we announced the transaction. This quarter, we achieved our fourth consecutive quarter of improvement in both our net interest margin and adjusted efficiency ratio, evidence of the growing momentum and continuing transformation at Northwest. Also, tomorrow, we have the official grand opening of our first de novo financial center in Columbus.
This is the first of our four new financial centers that we plan to open in Columbus this year, with more to follow in 2027. We are excited about the growth opportunities that our expansion will bring to our headquarters market. On a personal note, with more than three decades in the banking industry, I can say with confidence that our new financial center takes the customer experience to a completely different level. It is aesthetically striking and brings to life the hospitality-led approach York and his team have embedded across our consumer bank.
Turning to slide four, you can see some of the financial highlights of the second quarter 2026. We delivered $54 million in net income for the second quarter, a record in the company's history, resulting in more than 59% year-over-year growth in net income. Other than the second quarter of 2021, when we divested our insurance business for a large gain, we delivered diluted earnings per share of $0.36 in the second quarter, which is also a record for the bank.
Momentum in our C&I business continued with $148 million of average C&I loan growth in the second quarter, representing 32% year-over-year growth. We continue to grow our nationwide business verticals in a very disciplined manner, and collectively, they now represent approximately 27% of our commercial lending portfolio. We are pleased with the performance of these verticals, which are led by experienced and highly networked industry leaders.
We continue to focus on investing in and growing our in-market regional and middle-market commercial lending business. We are also growing our SBA lending business both locally and nationally, including several key new hires this year with significant industry experience to further build on our momentum from earning a spot among the top 50 originators in the U.S. by volume in 2025. We recorded net interest margin of 375 basis points in the second quarter of 2026, benefiting from our deposit franchise, which continues to be one of Northwest's core strengths.
We achieved our fourth consecutive quarter of lower deposit costs, one of the best in class among our peers. Our record net income in the second quarter of 2026 drove strong returns with a ROAA of 1.27% and ROTCE of 14.9%, and an adjusted ROAA of 1.28% and adjusted ROTCE of 15.03%. We achieved these results while continuing to invest in talent, technology, and new financial centers to support our future growth. I am very pleased with our results, and I am proud of the team for their continued commitment to driving strong core performance across the bank.
As I highlighted earlier, we continue to execute on our plans to transform the consumer bank, including our financial center network. We recently announced the hiring of our new chief information officer and three new hires into leadership roles in our consumer bank to strengthen how we engage customers across our network digital platforms, and product lines. In the second quarter of 2026, we delivered on our commitment to our shareholders, returning more than half of our profits through a quarterly dividend of $0.20 per share.
This is the 127th consecutive quarter in which the company has paid a cash dividend. I'm pleased to announce that Northwest was recently recognized as one of TIME's America's Best Companies for 2026. None of this would be possible without the hard work and dedication of our 2,200 associates. I am proud to lead this team. As we look ahead for the rest of 2026, we continue to focus on organic growth initiatives, further optimizing our financial performance, expanding our financial center network, serving our core customers and communities.
With that, I'll turn it over to Doug to review our second quarter results in more detail. Doug?
Thank you, Lou, and good morning, everyone. As Lou indicated, we are very pleased with our strong financial performance in the second quarter. This is the product of all the efforts of our entire team working together to deliver these results, and I want to thank them for their tireless efforts. Let's continue on slide five of the earnings presentation, where I'll walk you through the highlights of Northwest financial results for the second quarter.
Our GAAP EPS for the quarter was $0.36 per share, and on an adjusted basis, our EPS was $0.37 per share, an improvement on the prior quarter of $0.02 per share on both a GAAP basis and an adjusted basis, driven by growth in average earning assets, accrued fee income, and a decrease in our cost of deposits. Total revenue was $181.2 million for the second quarter, which represented a 3.5% increase quarter-over-quarter and a 20.5% increase year-over-year.
We are very pleased that we achieved significant positive operating leverage 330 basis points quarter-over-quarter, and we maintained our focus on exercising tight expense discipline. This also translated into an improvement in our adjusted efficiency ratio to 56.2%, which was 158 basis point improvement quarter-over-quarter, all of which created an improvement in our pre-tax, pre-provision net revenue in the second quarter 2026, which increased to $77.3 million, an 8% increase from the first quarter 2026, and a 31% increase year-over-year on an adjusted basis.
Turning to slide six, I'll spend a moment covering our loan balances. We achieved our third consecutive quarter of period-end loan growth in the second quarter, with period-end loans increasing by $174 million to $13.2 billion, while our average loans grew $10 million. Our performance this quarter was from organic loan growth in both our commercial and consumer businesses as we continue to experience runoff in our residential mortgage and legacy CRE portfolios.
Our loan yield was relatively stable, decreasing by one basis point to 5.61% in the second quarter. Our C&I loan growth continued with strong performance in many of our new verticals and in our other commercial loan portfolios. Average C&I loans increased $148 million or 5.6% quarter-over-quarter and $678 million or 32.2% year-over-year. Our recent CRE loan production levels have been strong but continue to be offset by elevated levels of runoff in the CRE portfolio. Our overall interest rate sensitivity position continues to remain slightly asset sensitive with continued growth in floating rate commercial loans.
However, we feel we are appropriately positioned for the current and expected interest rate environment in 2026. In addition, there is an opportunity to restructure our sub-debt by extinguishing it within the next quarter, as it already received a 20% regulatory capital haircut last September and will lose an additional 20% of its regulatory capital treatment this September. This action should add approximately two basis points to net interest margin going forward.
We would expect all of our regulatory capital ratios to remain strong and above well-capitalized levels. Moving to slide seven and our deposit balances, which continue to be a source of strength and stability, our average total deposits grew by $87 million quarter-over-quarter, partially benefiting from growth in money market and savings accounts and deepening customer relationships. Our granular, diversified deposit book has an average balance of $19,800, with customer deposits consisting of over 716,000 accounts with an average tenure of more than 12.5 years.
For the third consecutive quarter, our cost of deposits declined, down five basis points to 1.43%, a product of our proactive management of the overall portfolio. 34% of the CD portfolio matured in the second quarter of 2026 at a weighted average rate of 340 basis points. New volumes, which are coming on with rates in the low 3%, are driving an overall decline in CD costs, supporting an overall decline in deposit costs. On slide eight, we show our fourth consecutive quarter of net interest margin improvement, with net interest margin increasing five basis points to 3.75% in the second quarter of 2026.
Benefiting from increased investment security yields and a further improvement in funding costs. Turning to our securities portfolio on slide nine, new security purchases in the quarter were consistent with the current composition of the portfolio and continue to strengthen an already strong source of liquidity. Our portfolio yield continues to increase as new security purchases came on at higher yields than the runoff portfolio. 24% of this portfolio is held to maturity to protect tangible common equity.
Turning to slide 10, our non-interest income increased $1.6 million quarter-over-quarter, driven by growth in our wealth management business, resulting in an increase in trust and financial services income. Non-interest income increased $3.3 million or 10.6% year-over-year, benefiting from an increase in trust and other financial services income, and an increase in service charges and fees. Regarding non-interest expenses detailed on Slide 11, we achieved our fourth consecutive quarter of improvement in our adjusted efficiency ratio, which was 56.2% in the second quarter of 2026.
Continuing our expense management focus over the last year. Overall expenses, excluding merger and restructuring expenses, remained relatively flat, benefiting from a decrease in non-personnel expenses, including a $3.2 million decrease in FDIC insurance premium. FDIC insurance premium expense in the second quarter was lower due to a prior period assessment rate change driven by the amendment of prior period call reports. On a year-over-year basis, expenses in the second quarter of 2026 were higher, the year ago quarter did not include the acquired Penns Woods operations.
On slide 12, you'll see our overall ACL coverage was relatively flat at 1.13% in the second quarter 2026, down two basis points from the first quarter. Our quarterly annualized net charge-offs of 15 basis points were below the low end of our full year guidance. Our NPAs remained mostly flat this quarter, and while our classified loans did increase this quarter, we have no expectation that the increase would result in higher overall charge-offs. Turning to credit quality on Slide 13, our credit risk metrics remain within internal expectations given the impact of the loans we acquired.
Our total delinquency declined from 1.30%-0.90% quarter-over-quarter, primarily as a result of a 30-day month effect on the mortgage portfolio and payoffs in the healthcare portfolio. Our 90+ day delinquencies increased from 34 basis points to 49 basis points quarter-over-quarter, while NPAs were flat at 70 basis points of average loans in the quarter. Taking a deeper dive into the breakdown of our credit quality on Slide 14, in the second quarter of 2026.
We experienced an increase in classified loans as a percentage of total loans and on an absolute basis, which was attributable partly to the continued migration of acquired loans to our credit administration standards and downgrades in the healthcare book. As we've discussed on earlier calls, our strategy with respect to classified loans is to continue to work them down over time. Finally, on Slide 15, we'd like to provide a current full year outlook for 2026, specifically. For loan and deposit growth, our outlook remains unchanged.
For revenue, we would expect to be in the middle of our stated range. For net interest margin, we expect to be in the 373-375 basis points range, assuming that the Fed funds rate is unchanged. For non-interest income, we expect to be at the high end of our range. For non-interest expense, we expect to be in the middle of our range. For net charge-offs based on current economic conditions, we expect to be in the low to middle of our range. We expect the tax rate to drift up to 24% based on stronger earnings. We remain very confident about Northwest's business and are excited about our prospects for the rest of the year.
Now I will turn the call over to the operator who will open up the lines for a live Q&A session.
Thank you. We will now begin the question-and-answer session. If you have dialed in and would like to ask a question, please press star one on your telephone keypad to raise your hand and join the queue. If you would like to withdraw your question, simply press star one again. With that, our first question comes from the line of Daniel Tamayo with Raymond James. Please go ahead.
Thank you. Good morning, everybody.
Morning.
Maybe starting on the deposit book. We saw a little bit of a decline this quarter, and you mentioned where the new DD rates are coming on and obviously you got some loan growth coming in the back half of the year. Just curious how you're seeing deposit growth expectations in the back half of the year. I see the guidance for the low single digit, the loan to deposit ratio moves up a little bit, where's the comfort rate there and how do you think that could impact deposit pricing? It's a lot there, just looking into deposits. Thank you.
Yeah. Happy to answer that question, Danny. Thank you. The first thing I would point out is when you're looking at spot balances, very volatile metric given a lot of different things that can happen at the end of last day of the month. We look at more critically average deposits, which were up 0.6% for the quarter, $87 million. If I dissect the decline in spot balances a little bit between March 31st and June 30th, we'd have been up for customer deposits and our brokered CDs would have been slightly down.
That was an intentional shift where we took advantage of some lower funding costs on the FHLB desk than we had in our broker deposit book. Again, if you exclude that, our balance is what actually been up $19 million from customer deposits, and the only decline really was in brokered CDs. We continue to look favorably on the rest of the year. That guidance was thoughtfully contrived to make sure that we got to that 2% rate. The other thing I would say is we have more activity that we expect in the last half of the year as we continue to open our branches in the Columbus market, which is a very high growth market.
Okay. Thanks for that, Doug. I guess maybe on the expense guide, so you said middle of the range, that implies a pretty big step up in the back half of the year. Just curious how we should be thinking about, besides the rebound in the FDIC premiums, where the drivers of that expense increase are, and if that run rate is, my numbers are shaking out around $109 million. Correct me if I'm wrong, seems like that maybe takes the exit rate a little bit higher than we were thinking before. Thanks.
I would tell you, if you just adjust for the FDIC benefit that we got in the quarter, you would get to $107 million. I would say anywhere in that $107-$109 range is fine. We were thinking more in the $108s as it continued to stay in below or. We continued to look at opportunities to optimize expenses, but as we said, we're investing in the business. We're going to have costs coming online for branches and other things. We're going to continue to want to look at long-term growth opportunities, which is going to provide a little bit of upward pressure on those expenses.
For the full year, we still have every reason to believe that we're going to generate positive operating leverage year-over-year, reduce our efficiency ratio, and continue to be able to invest for the future.
Sounds like you're making some investments for the future. That's great. Thanks, Doug. Appreciate it. Guys.
Thanks, Danny.
The next question comes from the line of Jeff Rulis with D.A. Davidson. Please go ahead.
Thanks. Good morning. On the loans side, just looking at, looks like period growth quite a bit above the quarterly average. Just looking at the timing of that, does that suggest that came on fairly late in the quarter?
Yes, we had a really strong late push in the quarter. The other thing I would point out is commercial real estate in particular. I think a lot of people have commented on it, but we saw some higher levels of runoff in that book. Again, combination of construction loans that end up getting the perm financing off the book, as well as some other of the borrowers that we've worked out, like in some of the more classified asset areas contributed to that decline. We feel really good about the pipelines going forward, and we feel really good about the outlook.
Again, with a little bit lower levels of runoff, particularly on CRE, everything else was shaken out pretty good. We did start to see that production turn around in the last half of the quarter.
Got it. Then I guess a question on the margin. If I think about the three legs of the stool, you've got pretty stable loan yields, nice deposit costs decline, and increasing securities yields. You've got kind of a flattish sort of guide on the margin, I guess, on all three fronts. Are you expecting those to moderate? I guess the loan yields are fairly flat. Maybe those are coming in. Just the thought behind where margins sort of flatten out here, given the guide. Thanks.
Yeah. As you would know, it's a very competitive environment out there, both on the loan side. There's a lot of competition looking for loan growth. There's also a lot of competition looking for deposit growth. I think we're being a little bit realistic on what it's going to take for growth going forward in all those areas. Obviously, when you're opening up new branches and you're attracting customers, you're doing that at relatively higher rates than you would on an existing book of business. I think what we're saying is there's a lot of moving parts.
You should expect to see loan competition remain as it relates to rate because we're not really willing to compromise on structure. You should expect to see deposit competition continue to be strong. We also, in the opening comments, suggested that we still have some opportunities on the liability side as it relates to our sub-debt. Again, to your point, we are pulling all the levers to manage the margin, but we are also suggesting that 3.73%-3.75% as sort of an exit is realistic, and that is above where we started, kind of in the low 3.70s%.
If people were thinking 3.71%, 3.72%, wanted to provide a little bit of clarity that we liked the 3.75%, and we think that there's some opportunity to continue to support at those levels as we move forward.
Okay. Just a follow on just the securities yield side. Of the three things, that's the one that maybe you could continue to see some incremental progress on that, at least in the short run?
For sure.
Okay.
Older vintages run off, we are able to put them on at current market rates, which are materially higher. It's just a portfolio overall only has so many cash flowing items any given quarter. We are able to invest those at higher rates, and we've been able to pull that up consistently quarter-over-quarter. We would continue to expect that.
Okay. I appreciate it. Thanks.
The next question comes from the line of Brian Foran with Truist. Please go ahead.
Hey, just two follow-on questions on the guidance slide on page 15. With the NIM a little higher and fees a little higher, but revenue still at the middle of the range, is there something that is a little lower that's balancing those two out? Is it putting too fine a point on it because things round to the million, etc? Just trying to see, was there something balancing out the upgrade to NIM and fees, or is it just reading too fine a point into it to say that the revenue's still in the middle of the range?
No, I think you're right on where revenue's going to be in the middle of the range. I think we're also making sure from an overall earnings standpoint that people look at the expenses and don't hold us into that $103, $104 million range that we had in the first two quarters, that we would expect some upward pressure there. Again, right now, if we continue to have reasonable loan growth and a little bit more costly deposits going forward and a little bit of pressure on the loan yield sides, again, not pressure relative to what's rolling on, but just kind of keeping it consistent with where we're at, you're going to end up in the middle of that revenue range.
I hate to ask about the tax rate, but because it did change, is 24 kind of what you would best guess as we fill out models in the future? Could it drift higher to 25? Just any best guess of a tax rate into the end of this year and 2027?
We're not all that upset it's drifting higher because it's drifting higher for the right reasons, which is we have better earnings. We try to just clarify that as we earn more, that tax rate is going to be impacted as well. That approximate 24 should be a good number for you guys to use.
If I could sneak in one last one. Did you give an update, or can you, on just the growth from the specialty national industry verticals, kind of where they stand now, and maybe which ones are kind of having the most success in the current environment, both on growth and pricing?
I think they're all doing quite well. They're right where we would want them to be. I think in the opening comments, Lou suggested they're now making up about 27% of the C&I portfolio, which is up from where it was. Again, they're well-balanced. We're seeing success across all of those platforms. As you would expect, since a number of them have been launched in the last couple of years, that growth should be expected as those sales forces come up to speed and we get our overall position in the market better well-known.
We also see benefits on the SBA side, of course, which doesn't really lead to balance growth, but is supportive of the overall fee income-generating capability that we have. I think we're generally pretty happy with all of those vertical performances, and we see that opportunity continuing in the future. I don't know, Lou, if you had anything to add.
No, I would agree with Doug. I think the important thing to note is while the verticals are representing a larger percentage of our overall commercial book now, we remain disciplined. The growth is measured. We believe that our back office, our underwriting, our portfolio management in those areas is very sound, and we have experienced executives running those verticals. The pipelines going into the second half or going into the third quarter are a little above the second quarter. We would expect to continue to see that same growth.
Thanks so much.
The next question comes from the line of David Bishop with Hovde Group. Please go ahead.
Yeah, good morning.
Good morning.
Hey, quick question. Good morning. I may have missed it, but update on share repurchase activity, and remind me where we are in the authorization specs.
Yes. No, you didn't miss it. The authorization still stands at the $50 million that we had approved, and we haven't become active in that yet. Again, I'd direct you back to our prepared comments where we talked about next on the list is to work through the sub-debt that we have outstanding that continues to lose its capital treatment as we kind of get further out. We believe that that will return approximately two basis points in margin performance. That's where we're focused on now.
Got it. Then, saw a little bit of an increase in the substandards. Sounds like maybe it's in the nursing home category. Maybe just some color in terms of what drove that increase. Thank you.
Yeah. If you go to sort of the credit quality side, you will see some inflows or some downgrades that were driving that, about $146 million, as disclosed on slide 14. Again, we're still working through our new customers from our Penns Woods transaction. As they get more used to our credit standards and our expectations for documentation and other things, we tend to have a little bit more pressure on their credit grades. We, again, continue to be happy with where our NPA performance has been.
Overall charge-offs, those aren't drifting upwards. We continue to manage through that credit and classified book for the rest of the year.
Got it. Thank you.
The next question comes from the line of Matthew Breese with Stephens Inc. Please go ahead.
Hey, good morning.
Good morning.
I think I have what I need on the C&I growth outlook front. I guess what I was curious about, can you help me out with commercial real estate expectations? Understanding payoffs can be volatile and sounds like it's been a bit higher than expected, but just considering originations there, it sounds like you've turned them back on to a greater extent. What are your expectations on commercial real estate, that category, for the rest of the year?
This is Lou. It will be largely flat. We'll continue to see a little decline. We're rotating out of maybe what more traditionally we have done on the CRE, but we certainly have a focus. We've hired a number of new folks, and we'd like to mitigate that runoff, and we think we're making strides in that area. By the end of the year, we think we'll be in position to where we won't see that continuous churn quarter-over-quarter. We're looking at a number of different venues there, products, and a different go-to-market strategy.
That business is sort of being retooled. We're very comfortable where it's at now. One of the reasons why we like our positioning across the commercial and consumer bank is we have a lot of different levers. We are able to continue our growth trajectory for the year while we still see some runoff in that in the second half.
Got it. Okay. I am sorry if I missed it, what was the dollar amount tied to the national lines of business within C&I? What was that a year ago? I am curious if you have had any success doing both sides of the balance sheet of national lines of the business. How are deposits going there?
We did point out that we had $148 million increase in C&I loans, you can assume that a very good portion of that comes from those national businesses. Yes, those tend to be pretty full relationships. We do have a commercial finance business. That one you are going to have a little bit less cross-sell on that side. Generally speaking, for things like franchise or sports or our sponsor group, you are seeing full relationships with deposits coming in and continued opportunities on the deposit side there.
Again, pretty happy with the way those businesses are shaking out and very happy with the whole relationships that we get on those specialty lines.
Got it. Okay. A couple more. Hope you do not mind.
Nope. Go ahead.
Do you have the period-end deposit cost? I know you kind of hinted at maybe higher cost on the comm. What were they at period end? If you had to look at your crystal ball, should we be thinking about a couple of basis points a quarter in higher deposit costs? Is that the right way to kind of model it out?
It's really hard to project it as you know, right? There's a lot of moving parts with the deposit book. I don't have off the top of my head what the period-end costs were. I'll tell you, though, as you continue to think about, just think about the CD book. With that being relatively short-term maturities, call it six months, as those roll off, they were in a bit of a higher rate environment than the ones that are rolling on. They were at higher rates than ones that come on, but we're starting to lose that because now we've put a bunch of those on in the first quarter.
Those will be maturing. The rate's been pretty consistent quarter-over-quarter. I think you're more likely to lose sort of the opportunity for pricing for those kinds of wider pricing gaps than you're going to replace with a little bit more competitive in a slightly more competitive environment. I think you saw pretty universally a lot of banks talk about more competitive deposit pricing. We continue to think that it's going to be manageable. Like I said, we're doing other things to continue to support the margin, like thinking about the sub-debt and other opportunities that we have in the event we would have a little bit more deposit cost pressure.
Okay.
I don't think it's going to be dramatic.
Understood. Last one from me. Talked within fee income. Your trust and other financial services income picked up pretty strong this quarter. It's up 9.6%. Just seemed a little bit strong relative to market performance. I was curious what happened there, if there's anything one-time, sustainability. Maybe talk about that line item a little bit.
Yeah. We're really happy with how that business has been performing for us. I think on a long-term basis, we've got some very strong reps who work in our branches, supported by LPL. We also recently announced that we had hired a new wealth management leader. He continues to retool that business. The other thing we benefit from, of course, is higher overall market valuations in the stock market. As we earn annual fees off of those, that book, when it's bigger, we make more money there.
Generally speaking, sort of pretty good performance across the board on all of those areas. We continue to see some opportunity there. I think the next leg of the journey is going to be just how do we continue to fill out that business across all of our branches.
I'll leave it there. Thank you so much.
Thank you.
The next question comes from the line of Emily Lee with KBW. Please go ahead.
Hi, everyone. This is Emily stepping in for Tim Slusser. Thanks for taking my questions.
You're welcome. Good morning.
Morning.
I was wondering, do you have any levers to maybe pull on the expense front if, say, loan growth doesn't come in as strong as expected? Maybe if you can talk about if you're planning on doing any other investments, maybe on the tech side. Just puts and takes on the expense.
Like everybody, we have levers on the expense side that we can pull. There is a pretty decent chunk of variable compensation expense within there that if the loan growth didn't come through, there'd be some opportunity there. In general, there's always opportunities to sort of rebalance that. Again, right now we're not suggesting that we think that's going to be an issue with the loan growth guide that we gave. Again, we always look for opportunities, having the opportunity to get a bit of a refund on some of our FDIC insurance premiums, as an example. We'll continue to look for those items as well.
Great. Thank you. You touched on SBA being supportive of fee income going forward, and you also mentioned trust. Are there any other fee income lines you want to point out that could maybe provide upside or downside to your expectation?
No, those are the main ones. Obviously, as we get more consumers, we tend to see opportunities on the service charge side of the equation. That's viable as well, but that's more a component of how many customers we have, and sort of what level of activity they have out as they spend or think about their banking relationship. There's always some small gains that we have on our investments that are outside of what's managed in treasury. Again, we don't really know how those things are going to shake out. We don't really forecast them.
We can't. There's always a little bit of upside here and there, but I would say the vast majority is sort of on those businesses that we're trying to scale and grow, like trust.
Okay, great.
SBA.
Well, thank you for taking my question.
You're welcome. Thank you.
The next question comes from the line of Manuel Navas with Piper Sandler. Please go ahead.
Hey, good morning. In discussing your Columbus plans of four new branches this year, you said that there were further plans after that. Can you kind of just add some color on your plans for the market, if there's going to be more built out next year? Then any other regional focus areas as you look out towards 2027?
Yeah. We had always talked about having five Columbus branches that were going to be opened this year. We did update that to say four, because one of our branches had some permitting issues that kind of drug construction out slightly longer. That one we would expect to open in February. That would get us to the five that we've always talked about. We haven't really gotten into future plans. Quite honestly, five branches for a firm that hasn't been opening a lot of branches is a lot.
We want to make sure that our strategies are successful, learn from the build of the five, then be able to apply that to any future growth that we'd have. I would just comment that the Columbus market is an exceptionally strong market, and there is likely plenty of room to continue to think about opportunities within that market. As of now, we haven't gone into any more details on what the future plans are.
Apologies if this was covered. It seems like the capital deployment plans are first to handle the sub-debt. You're now a year past Penns Woods. What would you consider deployment priorities after that, and where does M&A fit in?
Yeah. Again, we really haven't changed our capital priorities, right? Key is supporting organic growth, so we want to focus on that. We want to continue to maintain support for the dividend that we've already had, and everybody would expect to continue. Between the next two opportunities, M&A and other opportunities for share buybacks, I think we're realistic to say that that environment is pretty volatile and it's hard to project. We've got a couple of levers there, and we'll pull them as related. I'll let Lou comment on the M&A side of the equation.
Yeah. Hey, Manuel. I would just say that from the M&A, we haven't really changed our perspective. We're always open for discussions and opportunities that fit our strategic plan, both from a geographical perspective and a strategy perspective. We certainly are only going to enter into arrangements that are highly accretive, that have shareholder value, and that we feel we can execute on. I would just say that we have a very experienced team, senior leadership team, as it relates to M&A. We have updated our playbook.
There were lessons learned in Penns Woods. As well as that went and as we executed at a high level, we think there are always lessons learned. We'll continue to tool the organization to capitalize on opportunities as they come up. Certainly, as you can tell, it helps us fuel future growth and gives us the opportunity to increase EPS and revenue. Right now we're focused as an organization on continuing to optimize our own financial performance, positive operating leverage, expense saves throughout the organization, and driving core earnings and core growth.
Which is what last year after the acquisition, we told the market that we would do, and we're fulfilling that promise. We'll see how that goes.
Yeah. Just to double-click on the M&A point, I would just say we're really excited. We mentioned it in the prepared comments that we have now reached the static payback in less than a year. We're 11 months outside of the close as of 6/30, and we are now at $9.88 tangible book value per share. We were $9.85 before we announced. Lou also foreshadowed the fact that we would expect to get the crossover valuation probably by the end of the fourth quarter. Again, both those would've been in a year or slightly over a year versus the 2.9-year payback period we stated up front.
We're very happy with the way that transaction went and feel good about our capabilities there.
Yeah, I was going to bring that up too. The payback is faster than expected. What are some of the lessons you've learned, though? You brought that up, and I just wanted to, in light of that kind of successful tangible book value return, what are some things you've learned from this transaction?
Yeah, maybe I'll start, I'll let Lou clean up on that one. I think the first thing is being very disciplined in the target and the pricing of the transaction's pretty important, right? I think finding the right cultural fit and then being able to do the deal with reasonable levels of costs mean a lot. Then I think it's all about how you move into these markets and appropriately remove costs from the old organization, then make sure that you're keeping connected with the customers of that organization and transitioning.
There's always opportunities to do a better job there, and I think we had our fair share of learnings from that. Generally speaking, I think we liked the way the rest of the deal progressed. Lou?
Yeah, I would just add, Manuel, my experience, I've been with a number of firms, we've done a lot of M&A, I think, the one thing to keep top of mind when you're going into the deal is not to destroy value that you just paid for, right? We were very intentional. We spent a lot of time in the market with the employees. We spent a lot of time with the customers. I think that you've got to make sure that you can properly integrate when you are able to obtain the cost saves. We were very laser-focused on maintaining value.
Now we are well into the stage of how do we build on the marketplace that we just acquired. How do we layer our products and services and personnel in so that we can provide future growth both in the retail and commercial banks. There was a lot of good work done. I think that one of the lessons learned was that in the new environment is speed and data and information and communication are going to be key. We're very happy with the way Penns Woods ended up.
I really appreciate that. Thank you.
The next question comes from the line of Daniel Cardenas with Brean Capital. Please go ahead.
Good morning, guys.
Good morning.
Good morning.
Most of my questions have been asked and answered. Just one question on reserve levels. Given the continued change in your loan portfolio, the more commercial-like in nature, how likely is it that we could see some build up in reserve levels on a go-forward basis, especially given the charge-off history that's been fairly well behaved?
Again, there's a lot that goes into those reserve calculations, not the least of which is sort of the outward look on the economy and sort of future levels of reserves are going to have a lot to do with where those numbers come in, and that is a very difficult thing to forecast. Right now, I would say things look pretty good. Things have been pretty stable. We've gotten through a number of shocks, right? Whether it was tariffs early on or whether it was the conflicts overseas. We continue to just sort of be patient and wait for all those things.
Generally speaking, I think we feel pretty comfortable with our overall levels of reserves and pretty comfortable with the guidance that we've provided on net charge-offs for the year. It is a very tricky thing to get too far out on.
Okay. Appreciate it.
Thanks. Thank you very much. Good quarter.
Thank you.
Thank you.
We do have a follow-up question coming from Brian Foran with Truist. Please go ahead.
Hey, just one last one on credit. Just the charge-offs required to get to the low to middle end of the range in the back half, I think are kind of in the $10 million a quarter range. When you think about the step-up versus the $5 million a quarter recently, I'm just wondering, is it like you can't run rate $5 million a quarter forever, one loan could double that? Or is it something you're seeing like with the classifieds ticking up or how much of that is reversion to the mean general conservatism and how much of that is line of sight on maybe some resolutions you have in the pipeline?
Yeah. I would say it's definitely a bit of both, but it's reversion to the mean mostly, right? We can't continue to run at those levels of charge-offs forever. We're still working through some credits. We obviously know what our NPAs are right now, and we can see the resolution of some of those, and we just want to make sure that we're being very square with everybody around where the charge-offs could be in the back end of the year.
We also wanted to provide some guidance that we don't expect to see them at the top end of that range, but somewhere operating in the middle part to lower part of that, we think is reasonable at this point.
Thank you so much.
I'm showing no further questions at this time. I would like to hand it back to the CEO, Lou Torchio, for closing remarks.
Thank you. On behalf of the entire leadership team and the board of directors, thank you for joining our call this morning. I'm excited about our momentum in 2026 as we are well-positioned to continue to optimize our financial performance and to capitalize on opportunities to drive profitable core growth. I look forward to speaking to you on our third quarter earnings call in the fall. Thank you.
Thank you. Ladies and gentlemen, this concludes today's conference call. Thank you all for joining. You may now disconnect
Investor releaseQuarter not tagged2026-07-27Northwest Bancshares (NWBI) Tops Q2 Earnings and Revenue Estimates
Zacks
Northwest Bancshares (NWBI) Tops Q2 Earnings and Revenue Estimates
Northwest Bancshares (NWBI) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.3 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +12.12%. A quarter ago, it was expected that this holding company for Northwest Savings Bank would post earnings of $0.3 per share when it actually produced earnings of $0.35, delivering a surprise of +16.67%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Northwest Bancshares, which belongs to the Zacks Financial - Savings and Loan industry, posted revenues of $182 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.94%. This compares to year-ago revenues of $150.38 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Northwest Bancshares shares have added about 28.3% since the beginning of the year versus the S&P 500's gain of 8.3%. While Northwest Bancshares has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Northwest Bancshares was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in t…Read full documentShow less
Northwest Bancshares (NWBI) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.3 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +12.12%. A quarter ago, it was expected that this holding company for Northwest Savings Bank would post earnings of $0.3 per share when it actually produced earnings of $0.35, delivering a surprise of +16.67%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Northwest Bancshares, which belongs to the Zacks Financial - Savings and Loan industry, posted revenues of $182 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.94%. This compares to year-ago revenues of $150.38 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Northwest Bancshares shares have added about 28.3% since the beginning of the year versus the S&P 500's gain of 8.3%. While Northwest Bancshares has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Northwest Bancshares was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.34 on $181.56 million in revenues for the coming quarter and $1.37 on $718.59 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Savings and Loan is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Riverview Bancorp (RVSB), has yet to report results for the quarter ended June 2026. This holding company for Riverview Community Bank is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +16.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Riverview Bancorp's revenues are expected to be $14.8 million, up 11.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northwest Bancshares, Inc. (NWBI) : Free Stock Analysis Report Riverview Bancorp Inc (RVSB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-07-27Northwest Bancshares: Q2 Earnings Snapshot
Associated Press
Northwest Bancshares: Q2 Earnings Snapshot
COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Northwest Bancshares Inc. (NWBI) on Monday reported second-quarter earnings of $53.5 million. On a per-share basis, the Columbus, Ohio-based company said it had profit of 36 cents. Earnings, adjusted for one-time gains and costs, were 37 cents per share. The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share. The holding company for Northwest Savings Bank posted revenue of $239.4 million in the period. Its adjusted revenue was $182 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $178.5 million. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NWBI at https://www.zacks.com/ap/NWBI
Investor releaseQuarter not tagged2026-07-27Compared to Estimates, Northwest Bancshares (NWBI) Q2 Earnings: A Look at Key Metrics
Zacks
Compared to Estimates, Northwest Bancshares (NWBI) Q2 Earnings: A Look at Key Metrics
Northwest Bancshares (NWBI) reported $182 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 21%. EPS of $0.37 for the same period compares to $0.30 a year ago. The reported revenue represents a surprise of +1.94% over the Zacks Consensus Estimate of $178.55 million. With the consensus EPS estimate being $0.33, the EPS surprise was +12.12%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Northwest Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net interest margin: 3.8% compared to the 3.7% average estimate based on three analysts. Average Balance - Total interest-earning assets: $15.8 billion compared to the $15.86 billion average estimate based on three analysts. Efficiency Ratio: 57.6% compared to the 59.1% average estimate based on three analysts. Nonperforming loans: $91.92 million versus $78.31 million estimated by two analysts on average. Net charge-offs to average loans, annualized: 0.2% versus 0.2% estimated by two analysts on average. Total noninterest income/(loss): $34.23 million compared to the $32.31 million average estimate based on three analysts. Net Interest Income: $146.94 million versus $145.92 million estimated by two analysts on average. Trust and other financial services income: $9.45 million compared to the $8.83 million average estimate based on two analysts. Net Interest Income (FTE): $147.77 million compared to the $146.31 million average estimate based on two analysts. Service charges and fees: $16.91 million versus $17.65 million estimated by two analysts on average. Other operating income: $3.55 million versus the two-analyst average estimate of $3 million. Mortgage banking income: $0.74 million versus the two-analyst average estimate of $0.67 million. View all Key Company Metrics for Northwest Bancshares here>>> Shares of Northwest Bancshares have returned +1.7% over…Read full documentShow less
Northwest Bancshares (NWBI) reported $182 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 21%. EPS of $0.37 for the same period compares to $0.30 a year ago. The reported revenue represents a surprise of +1.94% over the Zacks Consensus Estimate of $178.55 million. With the consensus EPS estimate being $0.33, the EPS surprise was +12.12%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Northwest Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net interest margin: 3.8% compared to the 3.7% average estimate based on three analysts. Average Balance - Total interest-earning assets: $15.8 billion compared to the $15.86 billion average estimate based on three analysts. Efficiency Ratio: 57.6% compared to the 59.1% average estimate based on three analysts. Nonperforming loans: $91.92 million versus $78.31 million estimated by two analysts on average. Net charge-offs to average loans, annualized: 0.2% versus 0.2% estimated by two analysts on average. Total noninterest income/(loss): $34.23 million compared to the $32.31 million average estimate based on three analysts. Net Interest Income: $146.94 million versus $145.92 million estimated by two analysts on average. Trust and other financial services income: $9.45 million compared to the $8.83 million average estimate based on two analysts. Net Interest Income (FTE): $147.77 million compared to the $146.31 million average estimate based on two analysts. Service charges and fees: $16.91 million versus $17.65 million estimated by two analysts on average. Other operating income: $3.55 million versus the two-analyst average estimate of $3 million. Mortgage banking income: $0.74 million versus the two-analyst average estimate of $0.67 million. View all Key Company Metrics for Northwest Bancshares here>>> Shares of Northwest Bancshares have returned +1.7% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northwest Bancshares, Inc. (NWBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-07-27Northwest Bancshares, Inc. Announces Record Second Quarter 2026 GAAP net income of $54 million, or $0.36 per diluted share
PR Newswire
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 /PRNewswire/ -- 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…Read full documentShow less
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 /PRNewswire/ -- 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 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 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. 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. 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. 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. 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. 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. 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) 726-2140Media 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 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/northwest-bancshares-inc-announces-record-second-quarter-2026-gaap-net-income-of-54-million-or-0-36-per-diluted-share-302835624.html
Investor releaseQuarter not tagged2026-07-27Northwest Bancshares Q2 Earnings, Revenue Rise
MT Newswires
Northwest Bancshares Q2 Earnings, Revenue Rise
Northwest Bancshares (NWBI) bank reported Q2 adjusted earnings Tuesday of $0.37 per diluted share, u
Investor releaseQuarter not tagged2026-07-26Northwest Bancshares (NWBI) Reports Q2: Everything You Need To Know Ahead Of Earnings
StockStory
Northwest Bancshares (NWBI) Reports Q2: Everything You Need To Know Ahead Of Earnings
Regional banking company Northwest Bancshares (NASDAQ:NWBI) will be announcing earnings results this Monday afternoon. Here’s what to expect. Northwest Bancshares beat analysts’ revenue expectations last quarter, reporting revenues of $175.1 million, up 12.1% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates. Is Northwest Bancshares a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members. This quarter, the market is expecting Northwest Bancshares’s revenue to grow 19.1% year on year, improving from the 9.4% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Northwest Bancshares rarely misses Wall Street’s revenue estimates. Looking at Northwest Bancshares’s peers in the banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ladder Capital delivered year-on-year revenue growth of 2.4%, beating analysts’ expectations by 3.3%, and Flagstar Financial reported revenues up 3.2%, falling short of estimates by 5.8%. Ladder Capital’s stock price was unchanged following the results. Read our full analysis of Ladder Capital’s results here and Flagstar Financial’s results here. Investors in the banks segment have had steady hands going into earnings, with share prices flat over the last month. Northwest Bancshares is up 2.1% during the same time and is heading into earnings with an average analyst price target of $15 (compared to the current share price of $15.45). ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
Investor releaseQuarter not tagged2026-07-23WSFS Financial (WSFS) Surpasses Q2 Earnings and Revenue Estimates
Zacks
WSFS Financial (WSFS) Surpasses Q2 Earnings and Revenue Estimates
WSFS Financial (WSFS) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of $1.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.93%. A quarter ago, it was expected that this bank holding company would post earnings of $1.48 per share when it actually produced earnings of $1.45, delivering a surprise of -2.03%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. WSFS, which belongs to the Zacks Financial - Savings and Loan industry, posted revenues of $282.47 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.90%. This compares to year-ago revenues of $267.5 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. WSFS shares have added about 42.8% since the beginning of the year versus the S&P 500's gain of 9.6%. While WSFS has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for WSFS was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.…Read full documentShow less
WSFS Financial (WSFS) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of $1.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.93%. A quarter ago, it was expected that this bank holding company would post earnings of $1.48 per share when it actually produced earnings of $1.45, delivering a surprise of -2.03%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. WSFS, which belongs to the Zacks Financial - Savings and Loan industry, posted revenues of $282.47 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.90%. This compares to year-ago revenues of $267.5 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. WSFS shares have added about 42.8% since the beginning of the year versus the S&P 500's gain of 9.6%. While WSFS has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for WSFS was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.55 on $285.02 million in revenues for the coming quarter and $6.32 on $1.13 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Savings and Loan is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Northwest Bancshares (NWBI), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 27. This holding company for Northwest Savings Bank is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +10%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Northwest Bancshares' revenues are expected to be $178.55 million, up 18.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WSFS Financial Corporation (WSFS) : Free Stock Analysis Report Northwest Bancshares, Inc. (NWBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research