Welcome to our dedicated page for Northwest Bancshares Md news (Ticker: NWBI), a resource for investors and traders seeking the latest updates and insights on Northwest Bancshares Md stock.
Northwest Bancshares Inc (NWBI) delivers community-focused banking services across Pennsylvania, New York, and Ohio through its Northwest Bank subsidiary. This page provides authorized news and official press releases directly impacting stakeholders.
Access timely updates on earnings announcements>, strategic acquisitions, and leadership developments alongside initiatives demonstrating NWBI's commitment to local communities. Investors will find regulatory filings, dividend declarations, and operational updates essential for tracking this regional banking leader.
Content spans financial performance reports, branch network expansions, and innovations in personal/commercial banking services. Bookmark this page for verified updates on NWBI's evolving role in the financial sector, including its wealth management solutions and risk management practices.
Northwest Bancshares (NWBI) has secured all necessary regulatory and shareholder approvals for its merger with Penns Woods Bancorp (PWOD). The merger includes Penns Woods' subsidiary banks, Jersey Shore State Bank and Luzerne Bank, which will merge into Northwest Bank.
Key approvals include:
- FDIC approval for the subsidiary banks merger
- Pennsylvania Department of Banking and Securities approval for both holding company and bank-level mergers
- Federal Reserve Bank of Cleveland's merger application waiver
- Penns Woods shareholders' approval on April 22, 2025
The merger is expected to be completed in late July 2025.
Northwest Bancshares (NWBI) has scheduled its first quarter 2025 earnings conference call for Tuesday, April 29, 2025, at 9:00 a.m. EDT. The company will release its Q1 2025 financial results and supporting data after market close on Monday, April 28.
The earnings call will be accessible through a live audio webcast with presentation slides available in the Investor Relations section of Northwest's website. Public participants can register for the conference call through a provided link, after which they will receive instructions for calendar event download and email reminders. Attendees are advised to join 15 minutes before the call starts. A replay of the webcast will be archived on Northwest's website for later access.
Northwest Bancshares (NWBI) reported Q4 2024 net income of $33 million, or $0.26 per diluted share, up from $29 million year-over-year but down $1 million from Q3 2024. The company achieved adjusted net income of $35 million, or $0.27 per diluted share.
Key highlights include net interest margin expansion to 3.42%, improved efficiency ratio at 61.8%, and declaration of the 121st consecutive quarterly dividend of $0.20 per share. Average deposits grew by $232 million year-over-year, while average loans decreased by $47 million.
The company announced plans to acquire Penns Woods Bancorp, expected to close in Q3 2025, which will position Northwest among the nation's top 100 largest banks. The quarter saw elevated charge-offs of $15 million due to strategic loan pool sales and portfolio de-risking initiatives.
Northwest Bank has appointed Michael Perry as Managing Director of Corporate Development and Strategy. As a key member of the senior leadership team, Perry will oversee corporate development, strategy, and lead the bank's Investor Relations function. His primary responsibilities include managing the company's acquisition strategy and M&A process as part of Northwest's long-term growth plan.
Perry brings 28 years of experience in investment banking, having advised on over 50 M&A transactions worth more than $80 billion and capital markets offerings exceeding $23 billion. His previous roles include Managing Director positions at Piper Jaffray, Daiwa Capital Markets, and most recently, Commerce Street Capital. He holds an MBA from Columbia University and a bachelor's degree from UNC Chapel Hill.
Northwest Bancshares (NASDAQ: NWBI) has announced its upcoming fourth quarter 2024 earnings conference call, scheduled for January 24 at 10:00 a.m. EDT. The financial results will be released earlier that day at approximately 7:30 a.m. EDT.
The company will provide multiple ways to access the earnings information: a live audio webcast with presentation slides will be available on their website's Investor Relations section, and the results will be filed with the SEC on Form 8-K. Interested participants can register for the conference call through a provided link and will receive calendar event details and email reminders.
Attendees are advised to join 15 minutes before the call starts, and a replay will be made available via webcast on Northwest's website.
Northwest Bank announced a reduction in its prime lending rate from 7.75% to 7.50%, effective December 19, 2024. This marks the bank's second recent rate reduction, following a previous decrease from 8.0% to 7.75% on November 8, 2024.
Northwest Bancshares (NASDAQ: NWBI) has announced an agreement to acquire Penns Woods Bancorp (NASDAQ: PWOD) in an all-stock transaction valued at approximately $270.4 million. The merger will enhance Northwest's presence in North Central and Northeastern Pennsylvania, adding 24 branch locations and creating a combined entity with over $17 billion in pro forma total assets.
Under the agreement, Penns Woods shareholders will receive 2.385 shares of Northwest common stock for each PWOD share, valued at $34.44 per share based on Northwest's closing price of $14.44 as of December 16, 2024. The transaction is expected to be approximately 23% accretive to Northwest's 2026 fully diluted earnings per share, with an expected tangible book value earn-back period under 3 years. The merger is anticipated to close in the third quarter of 2025.
Northwest Bank has announced a reduction in its prime lending rate from 8.00% to 7.75%, effective November 8, 2024. This marks the second rate reduction in recent months, following a previous decrease from 8.5% to 8.0% on September 19, 2024.
Northwest Bancshares (NWBI) reported Q3 2024 net income of $34 million, or $0.26 per diluted share, down from $39 million ($0.31/share) year-over-year but up from $5 million ($0.04/share) in Q2 2024. The company's net interest margin expanded 13 basis points to 3.33%. Average deposits grew by $10 million while maintaining stable cost of funds. The company declared its 120th consecutive quarterly dividend of $0.20 per share, representing an annualized yield of 6.0%. Noninterest expense declined $2 million due to disciplined expense management.
Northwest Bancshares, Inc. (NASDAQ: NWBI) has announced its upcoming third-quarter 2024 earnings call, scheduled for Tuesday, October 29 at 9:00 a.m. (EDT). The financial results will be released at approximately 7:30 a.m. (EDT) on the same day. Investors and interested parties can access the live audio webcast and presentation slides on the company's website under the Investor Relations section.
The earnings results will be communicated through various channels, including social media platforms and a press release. Additionally, the results will be filed with the SEC on Form 8-K. For those wishing to participate in the conference call, registration is available through a provided link. A replay of the call will be accessible via webcast on the company's website.
