Northwest Banc reported record GAAP net income of $53.5 million for Q2 2026, or $0.36 per diluted share, and adjusted diluted EPS (non-GAAP) of $0.37. Net interest margin expanded to 3.75% and net interest income rose to $146.9 million for the quarter. The board declared a quarterly cash dividend of $0.20 per share, payable August 18, 2026.
Financial Highlights
- Net income (GAAP) for quarter ended June 30, 2026: $53,546 thousand; diluted EPS $0.36.
- Adjusted net income (non-GAAP) for quarter ended June 30, 2026: $53,853 thousand; adjusted diluted EPS $0.37.
- Net interest income (FTE) for Q2 2026: $146,938 thousand; net interest margin 3.75% (FTE).
- Total noninterest income for Q2 2026: $34,229 thousand.
- Total noninterest expense for Q2 2026: $104,283 thousand; efficiency ratio 57.56% (adjusted efficiency ratio 56.24%).
Business Highlights
- Loan growth: Average loans receivable increased to $13.094 billion, up 16.4% year-over-year, driven primarily by the Penns Woods acquisition and growth in C&I and consumer portfolios.
- Deposits: Average deposits rose to $14.134 billion, a 16.3% increase year-over-year, with growth in interest-bearing accounts after integrating Penns Woods deposit balances.
- Balance sheet composition: Average investments increased to $2.532 billion reflecting acquisition impacts and a targeted expansion of the securities portfolio.
- Credit quality: Classified loans were $524 million (3.96% of total loans) with annualized net charge-offs of 0.15% and allowance for credit losses of $149.3 million (1.13% of total loans).
- Capital and footprint: Total assets $17.207 billion at June 30, 2026; operated 151 full‑service financial centers and eleven drive‑ups across PA, NY, OH and IN, and declared a quarterly cash dividend of $0.20 per share (127th consecutive quarter).
Original SEC Filing:
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