First Quarter 2025 Earnings Conference Call April 29, 2025 Forward-looking Statements and Additional Information The information contained in this presentation may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words "believe," "anticipate," "estimate," "expect," "project," "target," "goal" and similar expressions are intended to identify forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the ...

Northwest Bancshares, Inc. (NASDAQ:NWBI) Q1 2025 Earnings Conference Call April 29, 2025 9:00 AM ET Company Participants Michael Perry - Managing Director, Corporate Strategy and Development and Investor Relations Louis Torchio - President and CEO Doug Schosser - Chief Financial Officer Thomas Creal - Chief Credit Officer Sean Morrow - Treasurer Conference Call Participants Tim Switzer - KBW Daniel Tamayo - Raymond James Matthew Breese - Stephens, Inc. Manuel Navas - D. A. Davidson Operator Thank you for st ...

Financial Performance - The company reported revenue of $156 million and net income of $43 million, marking a 48% increase in net income compared to the same quarter last year [5][11] - Earnings per diluted share increased to $0.34 from $0.23 in the first quarter of 2024 [5] - The net interest margin expanded by 45 basis points to 3.87%, attributed to lower cost of funds and increased asset yields [10][11] - Non-interest income decreased by $11.7 million due to prior quarter transactions but showed a 19% increase year-over-year [11][15] Business Line Performance - Average commercial loans increased by $121 million or 6.2% compared to the previous quarter, reflecting a strategic shift towards commercial lending [12] - The consumer loan segment saw modest growth, capitalizing on stronger demand for indirect loans [12] - The commercial real estate (CRE) portfolio declined by 3.5%, while residential mortgage and home equity portfolios decreased by 1.9% and 1.3%, respectively [13] Market Data - Average total deposits increased by $60 million quarter-over-quarter, with consumer non-brokered deposits rising by $68 million [13] - The cost of deposits decreased by nine basis points to 1.59%, maintaining a competitive position relative to peers [14] Company Strategy and Industry Competition - The company is focused on sustainable, responsible, and profitable growth, with a renewed emphasis on enhancing its retail banking franchise [6][7] - A merger with Pennswoods Bancorp is underway, expected to close by late July, which will position the company among the top 100 banks in the U.S. by asset size [8][9] - The company is actively pursuing de novo branch opportunities, particularly in Columbus and Indianapolis [7] Management Commentary on Operating Environment and Future Outlook - The current operating environment is characterized by significant market volatility and economic uncertainty, but the company remains focused on managing controllable factors [9][10] - The company expects to maintain its margin performance and is cautious about loan growth due to unpredictable economic conditions [20][21] Other Important Information - The adjusted efficiency ratio improved to 57.7%, reflecting disciplined expense management [16] - The company has a stable credit risk profile, with non-performing loans and assets at five-quarter lows [18] Q&A Session Summary Question: Margin guidance and economic outlook - Management indicated a core margin of 3.48% and expects to be at the high end of the range, with potential impacts from future Fed rate cuts [27][28] Question: Deposit growth drivers - The company is transitioning from CDs to more liquid products, with new money market rates around 3.75% [30][32] Question: Credit trends and industry exposure - Management noted potential impacts from tariffs on industries like manufacturing and transportation, with aggregate exposure at about 8% of the loan portfolio [42][43] Question: Commercial loan build-out - The company continues to take share in newer verticals and has seen stronger pipelines compared to the previous year [44][51] Question: Impact of Pennswoods acquisition on financial metrics - Management refrained from providing specific guidance on tangible book value dilution or purchase accounting due to market volatility [40][72] Question: Future M&A activity - The company remains open to future acquisitions but is currently focused on internal efficiencies and execution due to market conditions [76][78]

For the quarter ended March 2025, Northwest Bancshares (NWBI) reported revenue of $156.17 million, up 19% over the same period last year. EPS came in at $0.35, compared to $0.23 in the year-ago quarter.The reported revenue represents a surprise of +8.88% over the Zacks Consensus Estimate of $143.43 million. With the consensus EPS estimate being $0.25, the EPS surprise was +40.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

Northwest Bancshares (NWBI) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this holding company for Northwest Savings Bank would post earnings of $0.26 per share when it actually produced earnings of $0.27, delivering a surprise of 3.85%.Over ...

EXHIBIT 99.1 PRESS RELEASE OF NORTHWEST BANCSHARES, INC. EARNINGS RELEASE FOR IMMEDIATE RELEASE Investor Contact: Michael Perry, Corporate Development & Strategy (814) 726-2140 Media Contact: Ian Bailey, External Communications (380) 400-2423 Northwest Bancshares, Inc. Announces First Quarter 2025 net income of $43 million, or $0.34 per diluted share Net interest margin expands 45 basis points to 3.87% our 4th consecutive quarter of improved margin All regulatory and shareholder approvals received for Penns ...

Core Points - The company reported a net income of $43 million for the quarter ended March 31, 2025, an increase of $14 million from the same quarter last year and $11 million from the previous quarter [1][14][15] - Total revenue grew by 19% compared to the first quarter of 2024 [1] - The company declared a quarterly cash dividend of $0.20 per share, marking the 122nd consecutive quarter of dividend payments, with an annualized dividend yield of approximately 6.7% [3] Financial Performance - Adjusted net income (non-GAAP) increased to $44 million, or $0.35 per diluted share, driven by a $14 million increase in net interest income [2] - Annualized returns on average shareholders' equity and average assets for the quarter were 10.90% and 1.22%, respectively, compared to 7.57% and 0.81% for the same quarter last year [1][25] - Net interest income rose to $127.8 million, an increase of 11.9% from the previous quarter and 23.8% from the same quarter last year [6] Balance Sheet Highlights - Average loans receivable decreased by 0.3% from the previous quarter and 1.5% from the same quarter last year, primarily due to a decline in the personal banking portfolio [5][7] - Average deposits increased by 0.5% from the previous quarter and 1.7% from the same quarter last year, driven by growth in money market and savings account balances [5][7] - Total assets as of March 31, 2025, were $14.45 billion, a slight increase from $14.41 billion at the end of the previous quarter [20] Credit Quality - Nonperforming assets remained stable at 0.52% of total assets [1] - The total provision for credit losses was $8 million, a decrease of 52.2% from the previous quarter, reflecting growth in the commercial lending portfolio [9] - Classified loans increased to $279 million, or 2.49% of total loans, compared to 1.99% a year ago [10] Noninterest Income and Expenses - Total noninterest income decreased by 29.2% from the previous quarter, primarily due to a decline in other operating income [11] - Total noninterest expense was $91.7 million, a slight increase from the same quarter last year, driven by higher personnel expenses [12][13] - The efficiency ratio improved to 58.74%, down from 61.80% in the previous quarter [14] Strategic Outlook - The company is focused on executing its financial close and systems conversion for the Penns Woods acquisition by late July 2025 [4] - Management remains optimistic about the company's prospects, emphasizing cost control and risk management [4]

Core Viewpoint - Northwest Bancshares, Inc. will host a conference call to discuss its first quarter 2025 financial results on April 29, 2025, at 9:00 a.m. EDT, with results released after market close on April 28, 2025 [1]. Group 1: Conference Call Details - The conference call will be available via a live audio webcast, and presentation slides will be accessible in the Investor Relations section of the company's website [2]. - The public can register for the conference call through a specified link, receiving instructions for calendar downloads and email reminders [2]. - Participants are encouraged to join 15 minutes prior to the call, and a replay of the webcast will be archived on the company's website [3]. Group 2: Company Overview - Northwest Bancshares, Inc. is headquartered in Columbus, Ohio, and serves as the bank holding company for Northwest Bank, which was founded in 1896 [4]. - Northwest Bank is a full-service financial institution offering a wide range of business and personal banking products, as well as employee benefits and wealth management services [4]. - The company operates 130 full-service financial centers and eleven free-standing drive-up facilities across Pennsylvania, New York, Ohio, and Indiana [4]. - Northwest Bancshares, Inc.'s common stock is listed on the NASDAQ Global Select Market under the ticker symbol "NWBI" [4].

Core Viewpoint - Purcell & Lefkowitz LLP is investigating Northwest Bancshares, Inc. to determine if its directors breached fiduciary duties related to recent corporate actions [1] Group 1 - The investigation is on behalf of the shareholders of Northwest Bancshares, Inc. [1] - The law firm specializes in representing shareholders affected by securities fraud and corporate misconduct [3] - Shareholders can obtain additional information regarding their rights and options at no cost [2]

Financial Position - Total assets as of December 31, 2024, were $14.41 billion, slightly down from $14.42 billion in 2023, reflecting a decrease of about 0.1%[501]. - Total liabilities decreased to $12.81 billion in 2024 from $12.87 billion in 2023, representing a reduction of approximately 0.4%[501]. - Deposits increased to $12.14 billion in 2024, up from $11.98 billion in 2023, marking an increase of about 1.4%[501]. - Cash and cash equivalents rose significantly to $288.4 million in 2024 from $122.3 million in 2023, showing an increase of approximately 135.8%[501]. - Marketable securities available-for-sale increased to $1.11 billion in 2024 from $1.04 billion in 2023, reflecting a growth of about 6.5%[501]. - Loans held for investment decreased to $11.18 billion in 2024 from $11.41 billion in 2023, a decline of approximately 2.0%[501]. Interest Rate Sensitivity - Total rate-sensitive assets amount to $13,163,845,000, with $5,636,509,000 maturing within 1 year[1]. - Total rate-sensitive liabilities are $9,999,684,000, with $5,606,583,000 maturing within 1 year[1]. - Cumulative interest sensitivity gap as a percentage of total assets is 21.91%[1]. - Estimated net interest income may decrease by no more than 5%, 10%, and 15% for parallel shifts of 100 bps, 200 bps, and 300 bps, respectively[4]. - Estimated net income may decrease by no more than 10%, 20%, and 30% for parallel shifts of 100 bps, 200 bps, and 300 bps, respectively[5]. - Market value of equity may not decrease by more than 15%, 30%, and 35% for parallel shifts of 100 bps, 200 bps, and 300 bps, respectively[6]. - Projected percentage decrease in net interest income for a 300 bps increase is (3.7)% and for a 300 bps decrease is (6.4)%[8]. - Projected percentage decrease in net income for a 300 bps increase is (8.8)% and for a 300 bps decrease is (15.4)%[8]. Credit Losses and Allowances - The allowance for credit losses for loans held for investment was $116.8 million as of December 31, 2024, down from $125.2 million in 2023, indicating a decrease of approximately 6.4%[493]. - The total allowance for credit losses as of December 31, 2024, is $116.819 million, down from $125.243 million as of December 31, 2023, representing a decrease of approximately 6.4%[620]. - Personal Banking's total allowance for credit losses decreased from $51.706 million in 2023 to $43.464 million in 2024, a reduction of about 16%[625]. - Commercial Banking's total allowance for credit losses remained relatively stable, decreasing slightly from $73.537 million in 2023 to $73.355 million in 2024[625]. - Provision for credit losses on loans increased to $27,679 thousand in 2024 from $18,664 thousand in 2023[504]. - The company did not recognize an allowance for credit losses in its investment portfolio for the years ended December 31, 2024, 2023, and 2022[606]. Income and Expenses - Total interest income for 2024 increased to $669,196 thousand, up 13.8% from $587,922 thousand in 2023[504]. - Net interest income after provision for credit losses was $411,073 thousand in 2024, slightly down from $412,809 thousand in 2023[504]. - Noninterest income decreased to $87,010 thousand in 2024, a decline of 23.6% compared to $113,823 thousand in 2023[504]. - Total noninterest expense rose to $368,537 thousand in 2024, an increase of 4.8% from $351,554 thousand in 2023[504]. - Net income for 2024 was $100,278 thousand, down 25.5% from $134,957 thousand in 2023[506]. - Basic earnings per share decreased to $0.79 in 2024 from $1.06 in 2023[504]. - Total comprehensive income for 2024 was $138,856 thousand, compared to $156,623 thousand in 2023[506]. Marketable Securities - Total marketable securities available-for-sale amounted to $1,108,944 million as of December 31, 2024, with gross unrealized losses of $170,918 million[603]. - The Company recognized a total of $750,586 million in marketable securities held-to-maturity as of December 31, 2024, with gross unrealized losses of $112,639 million[603]. - The total residential mortgage-backed securities available-for-sale as of December 31, 2024, had an amortized cost of $1,139,018 million and a fair value of $988,707 million[607]. - The company sold marketable securities classified as available-for-sale for $276 million in 2024, incurring gross realized losses of $39 million[606]. Loans and Nonaccruals - The company reported a total loans receivable of $11,180,014 million as of December 31, 2024, with a net total of $11,063,195 million after accounting for an allowance for credit losses of $116,819 million[614]. - Nonaccrual loans as of December 31, 2024, total 61,401, compared to 94,384 as of December 31, 2023, reflecting a significant reduction of about 34.9%[625]. - The company reported a total of $656 thousand in loans that are 90 days past due and accruing as of December 31, 2024, down from $2.698 million in 2023[625]. - The total loans modified for borrowers in financial distress included a combination of term extensions and interest rate reductions, with a total of $1,733,000 in 2024[634]. Operational and Regulatory Aspects - Management concluded that the Company's internal control over financial reporting is effective as of December 31, 2024[11]. - The consolidated financial statements present fairly the financial position of the company as of December 31, 2024, in conformity with U.S. generally accepted accounting principles[488]. - The company has maintained a consistent approach to evaluating expected credit losses, utilizing a twenty-four-month reasonable and supportable forecast period[496]. - The company has 141 banking locations across Pennsylvania, New York, Ohio, and Indiana, focusing on personal and commercial banking products[518]. - The company adopted ASU No. 2023-02 effective January 1, 2024, which did not have a material impact on its financial statements[594].