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Northwest Bancshares Inc Md - NWBI STOCK NEWS

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.

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Northwest Bancshares, Inc. (NWBI) announced a decrease in net income for the quarter ended December 31, 2023, compared to the same quarter last year. The company declared a quarterly cash dividend of $0.20 per share, representing the 117th consecutive quarter of dividend payments. Despite liquidity and interest rate challenges, the company executed a commercial banking strategy, growing loans and deposit base. However, net interest income, noninterest income, and noninterest expense saw fluctuations. The provision for credit losses decreased, and the company's annual net income increased slightly. Northwest Bancshares, Inc. is the bank holding company of Northwest Bank, operating 134 full-service community banking offices in Pennsylvania, New York, Ohio, and Indiana.
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Northwest Bancshares, Inc. announces net income of $39.2 million for Q3 2023, representing a 5.1% increase compared to the same quarter last year. The company also declares a quarterly cash dividend of $0.20 per share.
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Northwest Bancshares, Inc. announces retirement of CFO and COO William W. Harvey, Jr.
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Debt ratings from KBRA affirm solid financial position of Northwest Bancshares, Inc. and Northwest Bank
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Northwest Bancshares, Inc. (NWBI) announced Q2 2023 net income of $33.0 million, a 1.1% decrease from the same period last year. The company declared a $0.20 quarterly cash dividend, marking the 115th consecutive quarter with a cash dividend. Net interest income increased by 8.3% to $108.5 million, driven by higher market interest rates and redeployment of cash into higher yielding loans. However, noninterest income decreased by 2.1% to $29.8 million, and noninterest expense increased by 5.5% to $85.9 million.
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Northwest Bancshares, Inc. (NWBI) reported a net income of $33.7 million for the quarter ending March 31, 2023, marking a 19.1% increase from the prior year. This corresponds to earnings of $0.26 per diluted share, compared to $0.22 a year earlier. The company announced a quarterly cash dividend of $0.20 per share, yielding approximately 6.7% based on its market value. Notable loan growth of $171.8 million (1.6%) was realized, primarily from commercial lending. Net interest income rose by 24.1% to $112.5 million. Despite an increase in the provision for credit losses to $5.0 million, asset quality improved, with nonperforming loans decreasing. Operating expenses rose by 8.8%, largely due to increased professional services and processing costs.

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Northwest Bank has announced the formation of a new Commercial Finance Group, aimed at enhancing its commercial loan offerings. Financial veterans Lee Palm, Brian Shapiro, and Phil Mulder will lead this initiative, focusing on business aviation, trucking, marine financing, and general equipment loans. Palm, who has more than 20 years of experience, will serve as president. Shapiro brings over 35 years in commercial lending, while Mulder has significant experience in credit and risk. This expansion marks a strategic effort to diversify and grow Northwest Bank's capabilities across the eastern United States.

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Northwest Bancshares, Inc. (NWBI) reported a net income of $34.6 million for Q4 2022, a 15.3% increase from the previous year, translating to $0.27 per diluted share. The net interest margin improved to 3.57% from 2.89% due to higher interest rates and an effective asset mix. The Board declared a quarterly cash dividend of $0.20 per share, marking 113 consecutive quarters of dividends. However, the provision for credit losses rose to $9.0 million, reflecting economic concerns. Overall, net income for 2022 was $133.7 million, a 13.4% decline from 2021, primarily due to increased credit loss provisions and decreased noninterest income.

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Northwest Bancshares, Inc. (NWBI) reported net income of $37.3 million, or $0.29 per diluted share for Q3 2022, reflecting a 6.4% increase from Q3 2021. The annualized return on equity rose to 9.84% from 8.86%. A quarterly cash dividend of $0.20 per share was declared, marking the 112th consecutive quarter of dividends. Net interest income increased 14.6% to $112.7 million, driven by rising interest rates. However, the provision for credit losses rose by 276.6% to $7.7 million, reflecting economic concerns.

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Northwest Bancshares Inc Md

Nasdaq:NWBI

NWBI Rankings

NWBI Stock Data

1.45B
125.98M
1.05%
70.77%
2.44%
Banks - Regional
National Commercial Banks
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United States
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