Northwest Bancshares (NWBI) investor relations material

Executive summary

• Completed the Penns Woods merger, expanding to 151 financial centers and $17B in assets, marking the largest acquisition in company history.

• Merger integration and rebranding are on track, with operational focus on customer retention and growth.

• Q2 2025 net income was $34M ($0.26 per share), up significantly year-over-year, driven by higher net interest and noninterest income.

• Opened a new financial center in Indiana and achieved strong commercial loan growth.

• Total assets reached $14.5B at quarter-end, rising to $17B post-merger.

Financial highlights

• Q2 2025 GAAP net income was $33.7M; adjusted net income $38.2M; EPS $0.26 (GAAP), $0.30 (adjusted).

• Total revenue for Q2 was $150M, up 53.5% year-over-year; net interest margin rose to 3.56%.

• Noninterest income increased 9% sequentially and $40M year-over-year, mainly from fee income and equity gains.

• Noninterest expense rose 6% year-over-year, mainly due to merger-related and personnel costs.

• Quarterly dividend of $0.20 per share declared, marking 123 consecutive quarters.

Outlook and guidance

• Net interest margin expected to remain at 3.50% for the rest of 2025.

• Q4 2025 guidance: net interest income $139M–$141M, noninterest income $32M–$33M, noninterest expense $103M–$105M, tax rate 23%, net charge-offs $9M–$11M.

• Full cost savings from Penns Woods expected by 2026; 75% realized in 2025.

• Effective tax rate for 2025 expected at 22.0%–24.0%.

• Focus remains on integration, organic growth, and prudent expense control.