Northwest Bancshares (NWBI) investor relations material

Executive summary

• Record Q3 revenue of $184.9M and net interest income of $149.0M; diluted EPS was $0.34 GAAP and $0.35 adjusted.

• Net income was $50.7M versus $3.2M a year earlier, when merger costs and Day 1 credit provisions were substantially higher.

• Average C&I loans grew 30.8% YoY; priorities include sustainable organic growth, operational optimization and expansion in Columbus.

Financial highlights

• Revenue rose 2.0% QoQ and 9.9% YoY; net interest income increased 9.5% YoY to $149.0M and noninterest income rose 11.6% to $35.9M.

• Adjusted pre-tax, pre-provision net revenue was $76M, down 1.5% QoQ and up 15.5% YoY.

• Noninterest expense was $109.0M, down 18.4% YoY as merger, asset disposition and restructuring costs fell $31M; expense rose $4.7M QoQ, partly reflecting the prior-quarter FDIC assessment benefit.

• Provision for credit losses was $9.1M, including $5.2M for loans and $3.9M for unfunded commitments; the loan provision primarily reflected commercial growth.

• Nine-month net income was $154.8M, or $1.05 diluted EPS, versus $80.3M and $0.61; nine-month net interest income was $438.4M versus $383.2M.

Outlook and guidance

• FY26 revenue guidance is $710M–$730M and is expected at the high end; noninterest income guidance of $125M–$130M is expected to be exceeded, with expense excluding merger costs at $420M–$430M.

• NIM guidance is 373 bps for Q4 and 371 bps for FY26; the September rate increase and subordinated-debt redemption support Q4, while purchase-accounting accretion remains uncertain.

• FY26 loan growth guidance is low-to-mid single digits and deposit growth low single digits; net charge-offs are expected at 20–27 bps, with current outlook at the low end.

• FY26 effective tax-rate guidance is 23%–25%; management expects the rate to rise to 24%.

• Management targets 200 bps of positive operating leverage annually and expects to provide more 2027 guidance with Q4 results in late January.