Northwest Bancshares Q3 net income $34M ($0.26 EPS), NIM expands to 3.33%, dividend $0.20

Northwest Bancshares, Inc.

2024-Q3 EPS reported $0.53

Net income $34M vs $39M YoY; prior quarter (Q2) was $5M due to $39M securities loss.
Net interest margin rose 13 bps to 3.33%, including 4 bps interest recovery; loan yield 5.57%.
Total provision for credit losses $4.9M vs -$0.4M in Q2; classified loans $320M (2.83%) up from $257M (2.26%) QoQ, driven by Long Term Healthcare.
Average deposits up $10M QoQ; average borrowings down $103M; noninterest expense fell $2M to $90.8M.
Board declared $0.20 quarterly dividend payable Nov 18 to holders of record Nov 8 — 120th consecutive quarter.

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