Business
Northwest Bancshares, Inc. Announces Second Quarter 2025 net income of $34 million, or $0.26 per diluted share
Total revenue grew 54% and net interest income increased 12% over prior year quarter Successful completion and systems conversion of Penns Woods merger Strong
About this update from Northwest Bancshares, Inc.
[{"type":"text","content":"Total revenue grew 54% and net interest income increased 12% over prior year quarter\nSuccessful completion and systems conversion of Penns Woods merger\nStrong 2Q net interest margin at 3.56% as we continue to manage our funding costs and maintain our loan yield\nNoninterest income grew 9% over prior quarter\n2Q25 adjusted (non-GAAP) net income of $38 million, or $0.30 per diluted share\nCommercial C&I lending momentum continues with 19% growth in the last year\nCOLUMBUS, Ohio, July 29, 2025 /PRNewswire/ -- Northwest Bancshares, Inc., (the \"Company\"), (Nasdaq: NWBI) announced net income for the quarter ended June 30, 2025 of $34 million, or $0.26 per diluted share. This represents an increase of $29 million compared to the same quarter last year, when net income was $5 million, or $0.04 per diluted share, and a decrease of $10 million compared to the prior quarter, when net income was $43 million, or $0.34 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended June 30, 2025 were 8.26% and 0.93% compared to 1.24% and 0.13% for the same quarter last year and 10.90% and 1.22% from the prior quarter.\n\n \n \n \n \n \n \n\n \nAdjusted net income (non-GAAP) for the quarter ended June 30, 2025 was $38 million, or $0.30, per diluted share, which decreased by $6 million from $44 million, or $0.35, per diluted share, in the prior quarter. This decrease was primarily driven by an $8 million decrease in net interest income impacted by a large non-accrual interest income recovery in the prior quarter. The adjusted annualized returns on average shareholders' equity (non-GAAP) and average assets (non-GAAP) for the quarter ended June 30, 2025 were 9.36% and 1.06% compared to 11.11% and 1.25% for the prior quarter.\nThe Company also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share payable on August 19, 2025 to shareholders of record as of August 8, 2025. This is the 123rd 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, 2025, this represents an annualized dividend yield of approximately 6.3%.\nLouis J. Torchio, President and CEO, Northwest Bancshares commented, \"I am pleased with our performance in the second quarter of 2025, as we continue to execute ...