NWBI Q4 net income rises to $33M; NIM 3.42%; declares $0.20 dividend; Penns Woods deal

Northwest Bancshares, Inc.

2024-FY EPS reported $0.79

Net income of $33M ($0.26 diluted EPS) vs $29M ($0.23) in Q4 2023; adjusted net income $35M ($0.27).
Net interest margin expanded 9 bps to 3.42% from 3.16% a year ago; efficiency ratio improved to 61.8%.
Dividend declared $0.20/share (121st consecutive quarter), payable Feb 14, 2025; annualized yield ~6.1%.
Entered agreement to acquire Penns Woods Bancorp; expected close Q3 2025.
Provision for credit losses $16.6M (up from $4.9M in Q3); net charge-offs 0.87% annualized due to loan sales.

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