Northwest Bancshares Q1 net income $33.7M, up 19% YoY; declares $0.20 dividend

Northwest Bancshares, Inc.

2023-Q1 EPS reported $0.26

Net income $33.7M ($0.26 diluted EPS) vs $28.3M ($0.22) prior year; increase of 19.1%.
Net interest margin 3.47% (down 10 bps from prior quarter); loan growth $171.8M (1.6%).
Dividend declared $0.20/share, payable May 15 to record May 4; 114th consecutive quarter; yield ~6.7%.
Asset quality improved: NPAs $79.8M; classified loans $208.6M, down 34.8% YoY.
Uninsured deposits only 13.6% of total; available liquidity $3.6B; deposit granularity with avg balance ~$16K.

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 March 31, 2023 results: net income $33.7 million, EPS $0.26 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $33.7 million
EPS: $0.26 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 March 31, 2023 of $33.7 million, or $0.26 per diluted share.

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Source: SEC EDGAR

accession 0001471265-23-000067

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