secwatch.observer — SEC 8-K summary
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Issuer:     Northwest Bancshares, Inc. (NWBI)
CIK:        0001471265
Form:       8-K
Filed at:   2022-01-24T23:59:59+00:00
Accession:  0001471265-22-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northwest Bancshares Q4 net income falls 14.3% to $30.1M; declares $0.20 dividend
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- Net income Q4 2021: $30.1M ($0.24/sh), down from $35.1M ($0.28/sh) Q4 2020.
- Quarterly cash dividend of $0.20/sh declared, payable Feb 14, 2022, record Feb 3, 2022.
- Branch optimization: consolidating 12% of branches in Apr 2022; $2.8M severance in Q4, $3.5M expected Q1 2022, annual savings ~$8M starting Q2 2022.
- Net interest margin decreased to 2.89% from 3.26%; provision for credit losses net credit of $1.9M.
- Classified loans decreased $126.2M (25.8%) to $363.2M; non-performing assets trended downward.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1471265/000147126522000003/0001471265-22-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1471265/000147126522000003/nwbi-20220124.htm
  HTML page:      https://secwatch.observer/filing/0001471265-22-000003

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