Northwest Bancshares(US:NWBI) Prnewswire·2025-10-27 20:05Core Insights - Northwest Bancshares, Inc. reported a net income of $3 million for Q3 2025, a significant decrease from $34 million in the same quarter last year, primarily due to increased provisions for credit losses and merger-related expenses [1][12][13] - The company achieved record total revenue of $168 million for the quarter, reflecting a 21% growth year-over-year, driven by the acquisition of Penns Woods Bancorp [1][4] - Adjusted net income for the quarter was $41 million, or $0.29 per diluted share, an increase from $38 million in the previous quarter, attributed to a rise in net interest income [1][2] Financial Performance - Year-to-date earnings per share (EPS) stood at $0.61, marking a 15% growth from the prior year [1] - The annualized return on average shareholders' equity for Q3 2025 was 0.69%, down from 8.50% in the same quarter last year [1][21] - Net interest income increased by $25 million compared to Q3 2024, driven by higher average yields and an increase in average earning assets due to the Penns Woods acquisition [6][8] Acquisition Impact - The acquisition of Penns Woods added $2.2 billion in total assets, including $1.8 billion in loans and $164 million in investments [2] - The merger integration activities were completed on time, contributing to the company's strategic growth and operational efficiency [4] Balance Sheet Highlights - Average loans receivable increased to approximately $12.57 billion, a 12% increase year-over-year [5] - Average deposits grew to $13.30 billion, reflecting a 9.4% increase from the previous year, primarily due to the addition of Penns Woods deposit accounts [5][7] - Total assets reached $16.38 billion as of September 30, 2025, compared to $14.41 billion a year earlier [18] Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.20 per share, representing an annualized dividend yield of approximately 6.5% based on the market value as of September 30, 2025 [3]