Northwest Bancshares Q2 net income $33M ($0.26/diluted), flat YoY; declares $0.20 dividend

Northwest Bancshares, Inc.

2023-Q2 EPS reported $0.52

Net income $33.0M ($0.26 diluted) vs $33.4M ($0.26) in Q2 2022, down 1.1%.
Net interest income +8.3% to $108.5M; NIM 3.28% vs 3.07% YoY but compressed from 3.47% in Q1.
Commercial loans +42.2% YoY; sold MSRs on $1.3B loans for $8.3M gain, reallocated to higher-yielding loans.
Quarterly dividend $0.20/share, payable Aug 14, record Aug 3; 115th consecutive quarterly dividend.
Classified loans down 22.8% to $214.1M; delinquencies up to 0.64% from 0.49% due to two admin delinquencies now current.

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 June 30, 2023 results: net income $33.0 million, EPS $0.26 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $33.0 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 June 30, 2023 of $33.0 million, or $0.26 per diluted share.

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Source: SEC EDGAR

accession 0001471265-23-000118

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