Quarterly ResultMay 7, 2026, 04:19 PM
Northwest Bancshares Q1 Net Income $50.5M; Basic EPS $0.35
AI Summary
Northwest Bancshares reported increased net income and basic earnings per share for the first quarter of 2026. The company's total assets and deposits also grew compared to the end of 2025. These results include the impact of the Penns Woods Bancorp acquisition, which was completed in July 2025, expanding the company's branch network.
Key Highlights
- Net income for Q1 2026 rose to $50.5 million from $43.5 million in Q1 2025.
- Basic earnings per share increased to $0.35 in Q1 2026 from $0.34 in Q1 2025.
- Total assets grew to $16.91 billion at March 31, 2026, from $16.77 billion at December 31, 2025.
- Total deposits increased to $14.21 billion at March 31, 2026, from $13.94 billion at December 31, 2025.
- Net interest income for Q1 2026 was $142.5 million, up from $127.8 million in Q1 2025.
- Provision for credit losses on loans decreased to $5.0 million in Q1 2026 from $8.3 million in Q1 2025.
- The acquisition of Penns Woods Bancorp, Inc. for $234 million was completed on July 25, 2025.
- Preliminary goodwill from the Penns Woods acquisition totaled $63.3 million at March 31, 2026.