Business
Northwest Bancshares, Inc. Announces Third Quarter 2025 GAAP net income of $3 million, or $0.02 per diluted share
Year to date EPS of $0.61 per diluted share, 15% growth from the prior year Record total revenue of $168 million, 21% growth over prior year quarter
About this update from Northwest Bancshares, Inc.
[{"type":"text","content":"\n Year to date EPS of $0.61 per diluted share, 15% growth from the prior year \n \n \n Record total revenue of $168 million, 21% growth over prior year quarter\n \n \n COLUMBUS, Ohio, Oct. 27, 2025 /PRNewswire/ -- Northwest Bancshares, Inc., (the \"Company\"), (Nasdaq: NWBI) announced net income for the quarter ended September 30, 2025 of $3 million, or $0.02 per diluted share. This represents a decrease of $31 million compared to the prior quarter and same quarter last year, when net income was $34 million, or $0.26 per diluted share, in both periods. The annualized returns on average shareholders' equity and average assets for the quarter ended September 30, 2025 were 0.69% and 0.08% compared to 8.50% and 0.93% for the same quarter last year and 8.26% and 0.93% for the prior quarter. \n \n \n \n \n \n \n \n Adjusted net income (non-GAAP) for the quarter ended September 30, 2025 was $41 million, or $0.29, per diluted share, which increased by $3 million from $38 million, or $0.30, per diluted share, in the prior quarter. This increase was primarily driven by a $17 million increase in net interest income from the addition of Penns Woods which was partly offset by an increase in adjusted noninterest expense of $11 million. The adjusted annualized returns on average shareholders' equity (non-GAAP) and average assets (non-GAAP) for the quarter ended September 30, 2025 were 8.89% and 1.01% compared to 9.36% and 1.06% for the prior quarter.\n On July 25, 2025, the Company completed its acquisition of Penns Woods Bancorp, Inc. (\"Penns Woods\") and its results of operations are included in the Company's consolidated results since the date of acquisition. Therefore, the Company's third quarter and year to date 2025 results reflect increased levels of average balances, net interest income, and noninterest expense compared to the prior quarter and 2024 results. After purchase accounting fair value adjustments, the acquisition added $2.2 billion of total assets, including $1.8 billion of loans, $164 million of investments, of which $82 million were immediately sold, as well as $2.0 billion of total liabilities, primarily consisting of $1.6 billion in deposits. The Company recorded preliminary goodwill of $61 million and core deposit intangibles of $48 million related to the acquisition.\n The Company also announced that its Board of Dire...