Q4 net income $34.6M ($0.27 EPS), up 15.3% YoY; dividend $0.20/share

Northwest Bancshares, Inc.

2022-FY EPS reported $1.05

Net income $34.6M vs $30.1M YoY; diluted EPS $0.27 vs $0.24.
Net interest margin expanded to 3.57% from 2.89% YoY; net interest income up 21.1% to $117M.
Organic loan growth $178.9M (1.7%) in Q4; classified loans fell 34.9% to $236.2M.
Restructuring: workforce reduction ~12% with $4.2M severance in Q4, additional $3.2M in Q1 2023; annual savings ~$16M.
Quarterly dividend $0.20 per share, payable Feb 14, 2023 to holders of record Feb 2, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Northwest Bancshares, Inc. reported the quarter ended December 31, 2022 results: net income $34.6 million, EPS $0.27 per diluted share.

Period: the quarter ended December 31, 2022
Net income: $34.6 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

Northwest Bancshares, Inc., (the "Company"), (NasdaqGS: NWBI) announced net income for the quarter ended December 31, 2022 of $34.6 million, or $0.27 per diluted share.

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Source: SEC EDGAR

accession 0001471265-23-000002

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