---
schema_version: "secwatch.filing_event.v1"
accession: "0001471265-24-000140"
form_type: "8-K"
ticker: "NWBI"
cik: "0001471265"
company_name: "Northwest Bancshares, Inc."
filed_at: "2024-12-17T23:59:59+00:00"
generated_at: "2026-05-29T02:20:03.010263+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Northwest Bancshares to acquire Penns Woods Bancorp in all-stock deal valued ~$270M

## Summary
- All-stock acquisition of Penns Woods Bancorp for ~$270.4M; exchange ratio 2.385 NWBI shares per PWOD share.
- Consideration valued at $34.44/share, ~139% tangible book, 12.8x LTM core earnings, 5.2% core deposit premium.
- Transaction expected ~23% accretive to 2026 EPS; TBV dilution ~9%, earnback <3 years using cross-over method.
- Pro forma combined assets >$17B; adds 24 branches in PA; expected close Q3 2025.
- Richard Grafmyre (CEO of Penns Woods) to join Northwest board post-closing.

## SEC filing metadata
- accession: 0001471265-24-000140
- form_type: 8-K
- ticker: NWBI
- cik: 0001471265
- company_name: Northwest Bancshares, Inc.
- filed_at: 2024-12-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1471265/000147126524000140/0001471265-24-000140-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1471265/000147126524000140/nwbi-20241216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001471265-24-000140
- JSON: https://secwatch.observer/filing/0001471265-24-000140.json
- Plain text: https://secwatch.observer/filing/0001471265-24-000140.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.