Northwest Bancshares Q3 net income $37.3M ($0.29/diluted), up 6.4% YoY; declares $0.20 dividend

Northwest Bancshares, Inc.

2022-Q3 EPS reported $0.78

Net income $37.3M, EPS $0.29 vs $35.1M, $0.27 YoY; NIM expanded 35 bps to 3.42%.
Organic loan growth $241.7M (2.3%) + $67M small business equipment finance pool purchased.
Provision for credit losses $7.7M vs credit of $4.4M YoY due to loan growth and economic forecast deterioration.
Nonperforming assets dropped to $84.4M; classified loans to $237.7M; total DLQ 0.4%.
Quarterly dividend $0.20 declared, payable Nov 14, record Nov 3; annualized yield ~5.9%.

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