{"id":842869,"date":"2025-04-28T16:31:46","date_gmt":"2025-04-28T20:31:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/northwest-bancshares-inc-announces-first-quarter-2025-net-income-of-43-million-or-0-34-per-diluted-share\/"},"modified":"2025-04-28T16:31:46","modified_gmt":"2025-04-28T20:31:46","slug":"northwest-bancshares-inc-announces-first-quarter-2025-net-income-of-43-million-or-0-34-per-diluted-share","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/northwest-bancshares-inc-announces-first-quarter-2025-net-income-of-43-million-or-0-34-per-diluted-share\/","title":{"rendered":"Northwest Bancshares, Inc. Announces First Quarter 2025 net income of $43 million, or $0.34 per diluted share"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Net interest margin expands 45 basis points to 3.87% our 4th consecutive quarter of improved margin <\/b>\n <\/p>\n

\n All regulatory and shareholder approvals received for Penns Woods merger<\/b>\n <\/p>\n

\n Total revenue grew 19% from first quarter 2024<\/b>\n <\/p>\n

\n 3rd consecutive quarter of reduced costs of funds<\/b>\n <\/p>\n

\n Credit quality remains stable with nonperforming assets at 0.52% of total assets<\/b>\n <\/p>\n

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\n COLUMBUS, Ohio<\/span>
\n <\/span>, April 28, 2025<\/span><\/span> \/PRNewswire\/ — Northwest Bancshares, Inc., (the “Company”), (Nasdaq: NWBI) announced net income for the quarter ended March\u00a031, 2025 of $43 million<\/span>, or $0.34<\/span> per diluted share. This represents an increase of $14 million<\/span> compared to the same quarter last year, when net income was $29 million<\/span>, or $0.23<\/span> per diluted share, and an increase of $11 million<\/span> compared to the prior quarter, when net income was $33 million<\/span>, or $0.26<\/span> per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended March\u00a031, 2025 were 10.90% and 1.22% compared to 7.57% and 0.81% for the same quarter last year and 8.20% and 0.91% from the prior quarter.\u00a0<\/p>\n

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\n \"(PRNewsfoto\/Northwest
\n <\/a>\n <\/p>\n<\/p><\/div>\n

Compared to adjusted net income (non-GAAP) of $35 million<\/span>, or $0.27<\/span>, per diluted share in the prior quarter, adjusted net income (non-GAAP) increased by $9 million<\/span> to $44 million<\/span>, or $0.35<\/span>, per diluted share for the quarter ended March\u00a031, 2025. This increase was driven by a $14 million<\/span> increase in net interest income impacted by a large non-accrual interest income recovery. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended March\u00a031, 2025 were 11.11% and 1.25% compared to 8.71% and 0.97% for the prior quarter.<\/p>\n

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.20<\/span> per share payable on May\u00a020, 2025 to shareholders of record as of May\u00a08, 2025. This is the 122th <\/sup>consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of March\u00a031, 2025, this represents an annualized dividend yield of approximately 6.7%.<\/p>\n

\n Louis J. Torchio<\/span>, President and CEO, Northwest Bancshares commented, “Our strong performance, with record earnings for a first quarter and one of the best quarters in Northwest’s history, is a result of the Northwest team’s continued rigorous focus on execution, and cost control and risk management discipline. We continue to enhance our capabilities, expand our footprint, and provide personalized services and expertise to our consumers, companies, and the communities we serve.”\u00a0\u00a0<\/p>\n

“Despite the unpredictable operating environment, I remain confident and excited about Northwest’s prospects for the year ahead. We continue to focus on managing the factors within our control, such as serving our core customers and communities, building on our strong and stable financial foundations, maintaining prudent cost control and risk management discipline, and executing to plan on our financial close and systems conversion for the Penns Woods acquisition by late July 2025<\/span>. We are well prepared to capitalize on opportunities aligned with our strategy for sustainable, responsible, and profitable growth, when and where they arise in the coming months.”<\/p>\n

\n Balance Sheet Highlights<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n
\n

\n
\n
\n Dollars in thousands<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n
\n Change 1Q25 vs.<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n 1Q25<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n 4Q24<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n 1Q24<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n 4Q24<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n 1Q24<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Average loans receivable<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0 11,176,516<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,204,781<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,345,308<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.3)\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.5)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Average investments<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,037,227<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,033,991<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,051,058<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.2\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.7)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Average deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n 12,088,371<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,028,417<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,887,954<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.5\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.7\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Average borrowed funds<\/span>\n <\/p>\n<\/td>\n

\n

\n 224,122<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 222,506<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 469,697<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.7\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (52.3)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n