Form 8-K

8-K — Northwest Bancshares, Inc.

Accession: 0001471265-26-000014

Filed: 2026-04-27

Period: 2026-04-27

CIK: 0001471265

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nwbi-20260427.htm (Primary)

EX-99.1 (a2026-03x31nwbi8ker.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: nwbi-20260427.htm · Sequence: 1

nwbi-20260427

0001471265false00014712652026-04-272026-04-27

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 27, 2026

Northwest Bancshares, Inc.

(Exact name of registrant as specified in its charter)

Maryland 001-34582 27-0950358

(State or other jurisdiction of incorporation) (Commission File No.) (I.R.S. Employer Identification No.)

3 Easton Oval Suite 500 Columbus Ohio 43219

(Address of principal executive office) (Zip code)

(814) 726-2140

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol(s) Name of each exchange on which registered

Common Stock, 0.01 Par Value NWBI NASDAQ Stock Market, LLC

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by a check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange act. ☐

Item 2.02 Results of Operations and Financial Condition

On April 27, 2026, Northwest Bancshares, Inc. ("the Company") issued a press release announcing its financial results for the quarter ended March 31, 2026 (the "Press Release"). The Press Release is being furnished as Exhibit 99.1. The Company also made available its first quarter 2026 supplemental earnings presentation on the "Investor Relations" section of its website.

The information in the preceding paragraph, as well as Exhibit 99.1 referenced therein, is being furnished to the SEC and shall not be deemed “filed” for any purpose.

Item 9.01 Financial Statements and Exhibits

(a) Not applicable

(b) Not applicable

(d) Exhibits

Exhibit No. Description

99.1

Press release dated April 27, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

NORTHWEST BANCSHARES, INC.

Date: April 27, 2026 By:

/s/ Douglas M. Schosser

Douglas M. Schosser

Chief Financial Officer

EX-99.1

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Document

EXHIBIT 99.1

PRESS RELEASE OF NORTHWEST BANCSHARES, INC.

EARNINGS RELEASE

FOR IMMEDIATE RELEASE

Northwest Bancshares, Inc. Announces First Quarter 2026 GAAP net income of $51 million,

or $0.34 per diluted share

Adjusted net income (non-GAAP) of $51 million, or $0.35 per diluted share

Net interest margin continues to expand to 3.70%

28% average commercial and industrial loan growth from prior year

Credit quality remained strong with annualized net charge-offs of 0.16% and nonperforming assets of 0.70%

Columbus, Ohio — April 27, 2026 Northwest Bancshares, Inc., (the “Company”), (Nasdaq: NWBI) announced net income for the quarter ended March 31, 2026 of $51 million, or $0.34 per diluted share. This represents an increase of $7 million compared to the same quarter last year, when net income was $43 million, or $0.34 per diluted share, and an increase of $5 million compared to the prior quarter, when net income was $46 million, or $0.31 per share. The annualized returns on average shareholders’ equity and average assets for the quarter ended March 31, 2026 were 10.86% and 1.22% compared to 10.90% and 1.22% for the same quarter last year and 9.70% and 1.10% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended March 31, 2026 was $51 million, or $0.35, per diluted share, which increased by $2 million from $49 million, or $0.33, per diluted share, in the prior quarter. This increase was primarily driven by a decrease in adjusted noninterest expense of $6 million and a decrease in provision for credit losses expense of $3 million which were partially offset by a decrease in noninterest income of $5 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended March 31, 2026 were 10.95% and 1.23% compared to 10.33% and 1.17% for the prior quarter.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share payable on May 20, 2026 to shareholders of record as of May 7, 2026. This is the 126th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of March 31, 2026, this represents an annualized dividend yield of approximately 6.3%.

In addition, the Board of Directors approved a share repurchase program authorizing the Company to purchase, from time to time, up to an aggregate $50 million of its outstanding common shares over the next 24 months. This new program replaces the prior share repurchase program approved by the Board of Directors on December 13, 2012. Under the share repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws. The timing and amount of share repurchases under the stock repurchase program will depend on several factors, including the Company's stock price performance, ongoing capital planning considerations, general market conditions, and applicable legal and regulatory requirements.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “I am delighted with Northwest’s strong first quarter performance delivering record net income in the Company’s 130-year history, more than 16% year-over-year growth, supported by a balanced and consistent performance across the whole bank. We drove 28% year-over-year loan growth in our C&I business, with disciplined growth in our national specialty business verticals, and our deposit franchise continues as a core strength with our third consecutive quarter of lower deposit costs, one of the best-in-class among our peers. On the cost side, our expense management discipline led to a 59.4% efficiency ratio, which was 57.8% on an adjusted basis (non-GAAP), and our rigorous credit and risk management approach led to a decline in non-performing assets and overall delinquencies this quarter and lower annualized net charge-offs. We achieved these outstanding results while continuing to invest in talent, technology, and new financial centers to support our future growth.”

“We have another year of growth ahead of us, with our first financial centers in the Columbus market on track to open this year, and our team already delivering an impact in the market attracting new talent, customers, and deposits. The growing momentum and continuing transformation at Northwest, coupled with our consistent execution across the organization, gives me great confidence in our ability to capitalize on further opportunities for profitable and sustainable core growth.”

Balance Sheet Highlights

Dollars in thousands Change 1Q26 vs.

1Q26 4Q25 1Q25 4Q25 1Q25

Average loans receivable $ 13,083,837 12,982,499 11,176,516 0.8 % 17.1 %

Average investments 2,466,992 2,201,221 2,037,227 12.1 % 21.1 %

Average deposits 14,046,735 13,771,215 12,088,371 2.0 % 16.2 %

Average borrowed funds 404,547 354,894 224,122 14.0 % 80.5 %

•Average loans receivable increased $1.9 billion from the quarter ended March 31, 2025, primarily driven by the Penns Woods acquisition. Compared to the quarter ended December 31, 2025, average loans receivable increased $101 million driven by growth in our commercial and industrial and consumer loan portfolios.

•Average investments grew $430 million from the quarter ended March 31, 2025 and $266 million from the quarter ended December 31, 2025. The growth in average investments was primarily due to the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition and a targeted increase in the overall securities portfolio.

•Average deposits grew $2.0 billion from the quarter ended March 31, 2025 primarily driven by an increase in interest-bearing account balances primarily due to the addition of the Penns Woods deposit accounts. Average deposits grew $276 million from the quarter ended December 31, 2025 across all interest-bearing products due to internal growth and the higher use of brokered CDs.

•Average borrowings increased $180 million compared to the quarter end March 31, 2025 due to the acquisition of long term borrowings from Penns Woods. Average borrowings increased $50 million compared to the quarter ended December 31, 2025. The increase in average borrowings is attributable to the addition of short term borrowings to fund loan and securities growth.

Income Statement Highlights

Dollars in thousands Change 1Q26 vs.

1Q26 4Q25 1Q25 4Q25 1Q25

Interest income $ 201,550 202,825 180,595 (0.6) % 11.6 %

Interest expense 59,068 60,659 52,777 (2.6) % 11.9 %

Net interest income $ 142,482 142,166 127,818 0.2 % 11.5 %

Net interest margin 3.70 % 3.69 % 3.87 %

Compared to the quarter ended March 31, 2025, net interest income increased $15 million and net interest margin decreased to 3.70% from 3.87% for the quarter ended March 31, 2025. This increase in net interest income resulted primarily from:

•A $21 million increase in interest income that was the result of higher average yields coupled with increase in average earning assets. The increase in average earnings assets was driven by the Penns Woods acquisition during the third quarter 2025. The average yield on loans declined to 5.62% for the quarter ended March 31, 2026 from 6.00% for the quarter ended March 31, 2025, which included an interest recovery of $13.1 million on a non-accrual commercial loan payoff during the quarter ended March 31, 2025. Excluding this interest recovery, the yield on loans for the quarter ended March 31, 2025 was 5.52%. The increase in yield, excluding the recovery, was driven by loan mix shift towards higher yielding commercial loans, partially offset by the impact of fourth quarter 2025 rate cuts.

•A $6 million increase in interest expense is the result of an increase in the average balance of interest-bearing liabilities partially offset by a decline in the cost of deposits. The cost of interest-bearing liabilities decreased to 2.06% for the quarter ended March 31, 2026 from 2.15% for the quarter ended March 31, 2025.

Compared to the quarter ended December 31, 2025, net interest income increased slightly and net interest margin increased to 3.70% for the quarter ended March 31, 2026 from 3.69%. This increase in net interest income resulted from the following:

•A $1 million decrease in interest income driven by growth in the average interest earning balances and an increase on investments yields compared to the prior quarter which was offset by a decrease in loan yields. The average yield on loans decreased to 5.62% from 5.65% and average investment yields increased to 3.17% from 2.98% for the quarter ended December 31, 2025. The decrease in loan yields was driven by a decline in the accretion of loan fair value marks, based on timing of loan payoffs, coupled the impact of the fourth quarter 2025 rate cuts.

•A $2 million decrease in interest expense driven by lower interest expense on deposits which was partially offset by an increase in interest expense on borrowings. Average cost of interest-bearing deposits declined compared to the prior quarter to 1.89% from 1.97% for the quarter ended December 31, 2025 while average cost of borrowings increased to 3.88% from 3.83% for the quarter ended December 31, 2025.

Dollars in thousands Change 1Q26 vs.

1Q26 4Q25 1Q25 4Q25 1Q25

Provision for credit losses - loans $ 4,954 5,743 8,256 (13.7) % (40.0) %

Provision for credit losses - unfunded commitments (585) 1,981 (345) (129.5) % 69.6 %

Total provision for credit losses expense $ 4,369 7,724 7,911 (43.4) % (44.8) %

The total provision for credit losses for the quarter ended March 31, 2026 was $4 million primarily driven by growth in our commercial lending portfolio and increased uncertainty in the economic outlook. Total provision for credit losses for the quarter ended December 31, 2025 was $8 million driven by growth in our commercial lending portfolio and net charge-offs in the period.

The Company saw an increase in classified loans to $498 million, or 3.81% of total loans, at March 31, 2026 from $279 million, or 2.49% of total loans, at March 31, 2025 and $453 million, or 3.49% of total loans, at December 31, 2025. The increase from the prior quarter was driven by changes in our commercial portfolio which increased $30 million. The increase from the prior year was primarily due to classified loans acquired in the Penns Woods acquisition.

Dollars in thousands Change 1Q26 vs.

1Q26 4Q25 1Q25 4Q25 1Q25

Noninterest income:

Gain on sale of investments $ 11 142 — (92.3) % NA

Gain on sale of SBA loans 1,186 437 1,238 171.4 % (4.2) %

Service charges and fees 17,118 17,377 14,987 (1.5) % 14.2 %

Trust and other financial services income 8,618 8,416 7,910 2.4 % 9.0 %

Gain on real estate owned, net 70 148 84 (52.7) % (16.7) %

Income from bank-owned life insurance 2,042 8,269 1,331 (75.3) % 53.4 %

Mortgage banking income 329 379 696 (13.2) % (52.7) %

Other operating income 3,208 2,609 2,109 23.0 % 52.1 %

Total noninterest income $ 32,582 37,777 28,355 (13.8) % 14.9 %

Noninterest income increased $4 million from the quarter ended March 31, 2025 driven by an increase in service charges and fees driven by deposit related fees based on customer activity related to the Penns Woods acquisition and other operating income driven by a gain on equity method investments during the current quarter. Noninterest income decreased by $5 million from the quarter ended December 31, 2025, due to a decrease in income from bank-owned life insurance due to a large claim recognized in the prior quarter.

Dollars in thousands Change 1Q26 vs.

1Q26 4Q25 1Q25 4Q25 1Q25

Noninterest expense:

Personnel expense $ 58,330 65,143 54,540 (10.5) % 6.9 %

Non-personnel expense 45,708 48,378 37,197 (5.5) % 22.9 %

Total noninterest expense $ 104,038 113,521 91,737 (8.4) % 13.4 %

Noninterest expense increased from the quarter ended March 31, 2025 due to a $4 million increase in personnel expenses driven by an increase in core compensation and benefits expense due to the addition of Penns Woods employees. Additionally, non-personnel expense increased by $9 million due an increase of $2 million in amortization of intangible expense related to the acquisition coupled with increases in operating and processing expenses due to the addition of the Penns Woods branches to our footprint.

Noninterest expense decreased from the quarter ended December 31, 2025 due to declines in personnel and non-personnel expenses. Personnel expense decreased $7 million driven by lower incentive compensation and medical expenses. Non-personnel expense decreased by $3 million due to an decrease of $4 million in merger and restructuring expenses in the quarter ended March 31, 2026, partly offset by a $2 million increase in premises and occupancy expenses based on seasonal operating expenses during the quarter.

Dollars in thousands Change 1Q26 vs.

1Q26 4Q25 1Q25 4Q25 1Q25

Income before income taxes $ 66,657 58,698 56,525 13.6 % 17.9 %

Income tax expense 16,121 12,985 13,067 24.2 % 23.4 %

Net income $ 50,536 45,713 43,458 10.6 % 16.3 %

The provision for income taxes increased by $3 million from the quarter ended March 31, 2025 and the quarter ended December 31, 2025 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended March 31, 2025 and the quarter ended December 31, 2025 due to the factors discussed above.

Headquartered in Columbus, Ohio, Northwest Bancshares, Inc. is the bank holding company of Northwest Bank. Founded in 1896 Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, as well as employee benefits and wealth management services. As of March 31, 2026, Northwest operated 151 full-service financial centers and ten free standing drive-up facilities in Pennsylvania, New York, Ohio and Indiana. Northwest Bancshares, Inc.’s common stock is listed on The Nasdaq Stock Market LLC (“NWBI”). Additional information regarding Northwest Bancshares, Inc. and Northwest Bank can be accessed online at www.northwest.com.

Investor Contact: Michael Perry, Corporate Development & Strategy (814) 726-2140

Media Contact: Ian Bailey, External Communications (380) 400-2423

# # #

This release may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words “believe,” “anticipate,” “estimate,” “expect,” “project,” “target,” “goal” and similar expressions are intended to identify forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements include but are not limited to: statements of our goals, intentions and expectations; statements regarding our financial condition and results of operations, including statements related to our earnings outlook; statements regarding our business plans, prospects, growth and operating strategies; statements regarding the quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including but not limited to the following: the possibility that any of the anticipated benefits of the merger with Penns Woods will not be realized or will not be realized within the expected time period; the effect of the merger on the combined company’s customer and employee relationships and operating results; and other factors that may affect the results of operations and financial condition of the combined company; inflation and changes in the interest rate environment that reduce our margins, our loan origination, or the fair value of financial instruments; changes in asset quality, including increases in default rates on loans and higher levels of nonperforming loans and loan charge-offs generally; changes in laws, government regulations or supervision, examination and enforcement priorities affecting financial institutions, including as part of the regulatory reform agenda of the Trump administration, as well as changes in regulatory fees and capital requirements; changes in federal, state, or local tax laws and tax rates; general economic conditions, either nationally or in our market areas, that are different than expected, including inflationary or recessionary pressures or those related to changes in monetary, fiscal, regulatory, tariff and international trade policies of the U.S. government, including policies of the U.S. Department of Treasury and Board of Governors of the Federal Reserve System, and any related increases in compliance and other costs; trade disputes, barriers to trade or the emergence of trade restrictions and the resulting impacts on market volatility and global trade; growing fiscal deficits; potential recession or slowing of growth in the U.S., Europe and other regions; developments in the Middle East; adverse changes in the securities and credit markets; instability or breakdown in the financial services sector, including failures or rumors of failures of other depository institutions, along with actions taken by governmental agencies to address such turmoil; cyber-security concerns, including an interruption or breach in the security of our website or other information systems; technological changes that may be more difficult or expensive than expected; changes in liquidity, including the size and composition of our deposit portfolio, and the percentage of uninsured deposits in the portfolio; the ability of third-party providers to perform their obligations to us; competition among depository and other financial institutions, including with respect to deposit gathering, service charges and fees; our ability to enter new markets successfully and capitalize on growth opportunities; our ability to manage our internal growth and our ability to successfully integrate acquired entities, businesses or

branch offices; changes in consumer spending, borrowing and savings habits; our ability to continue to increase and manage our commercial and personal loans; possible impairments of securities held by us, including those issued by government entities and government sponsored enterprises; changes in the value of our goodwill or other intangible assets; the impact of the economy on our loan portfolio (including cash flow and collateral values), investment portfolio, customers and capital market activities; our ability to receive regulatory approvals for proposed transactions or new lines of business; the effects of any federal government shutdown or the inability of the federal government to manage debt limits; changes in the financial performance and/or condition of our borrowers; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Securities and Exchange Commission (the “SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board (“FASB”) and other accounting standard setters; changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; the effect of global or national war, conflict, or terrorism; our ability to manage market risk, credit risk and operational risk; the disruption to local, regional, national and global economic activity caused by infectious disease outbreaks, and the significant impact that any such outbreaks may have on our growth, operations and earnings; the effects of natural disasters and extreme weather events; changes in our ability to continue to pay dividends, either at current rates or at all; our ability to retain key employees; and our compensation expense associated with equity allocated or awarded to our employees. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, expected or projected. These and other risk factors are more fully described in this presentation and in the Northwest Bancshares, Inc. (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2025 under the section entitled "Item 1A - Risk Factors," and from time to time in other filings made by the Company with the SEC. These forward-looking statements speak only at the date of the presentation. The Company expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Company’s expectations with regard to any change in events, conditions or circumstances on which any such statement is based.

Use of Non-GAAP Financial Measures

This release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses these “non-GAAP” measures in its analysis of the Company’s performance. Management believes these non-GAAP financial measures allow for better comparability of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. See the pages 9 and 10 of this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures where applicable.

Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Financial Condition (Unaudited)

(dollars in thousands, except per share amounts)

March 31,

2026 December 31,

2025 March 31,

2025

Assets

Cash and cash equivalents $ 286,707 233,647 353,203

Marketable securities available-for-sale (amortized cost of $1,884,060, $1,710,978 and $1,304,760, respectively)

1,746,919 1,586,382 1,153,385

Marketable securities held-to-maturity (fair value of $567,470, $605,929 and $637,803, respectively)

646,661 683,369 735,909

Total cash and cash equivalents and marketable securities 2,680,287 2,503,398 2,242,497

Loans held-for-sale 16,846 22,437 71,206

Residential mortgage loans 3,035,984 3,100,780 3,121,647

Home equity loans 1,495,800 1,507,532 1,141,577

Consumer loans 2,660,567 2,563,890 2,081,469

Commercial real estate loans 3,161,314 3,296,902 2,792,734

Commercial and industrial loans 2,702,283 2,538,212 2,079,018

Total loans receivable 13,055,948 13,007,316 11,216,445

Allowance for credit losses (150,045) (150,212) (122,809)

Loans receivable, net 12,905,903 12,857,104 11,093,636

FHLB stock, at cost 32,781 36,628 17,941

Accrued interest receivable 57,221 56,291 45,949

Real estate owned, net 65 76 80

Premises and equipment, net 141,477 140,381 123,138

Bank-owned life insurance 292,103 294,386 254,444

Goodwill 444,330 444,330 380,997

Other intangible assets, net 37,478 39,667 2,334

Other assets 298,558 371,919 221,505

Total assets $ 16,907,049 16,766,617 14,453,727

Liabilities and shareholders’ equity

Liabilities

Noninterest-bearing demand deposits $ 3,121,044 3,123,229 2,640,943

Interest-bearing demand deposits 2,937,654 2,995,759 2,590,568

Money market deposit accounts 2,734,781 2,540,818 2,124,293

Savings deposits 2,444,799 2,366,513 2,221,901

Time deposits 2,975,026 2,916,698 2,596,451

Total deposits 14,213,304 13,943,017 12,174,156

Borrowed funds 350,884 446,283 197,270

Subordinated debt 114,800 114,800 114,625

Junior subordinated debentures 130,158 130,093 129,899

Advances by borrowers for taxes and insurance 40,127 37,309 44,121

Accrued interest payable 8,585 6,846 6,843

Other liabilities 144,884 197,845 157,858

Total liabilities 15,002,742 14,876,193 12,824,772

Shareholders’ equity

Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares issued

— — —

Common stock, $0.01 par value: 500,000,000 shares authorized, 146,302,025, 146,107,964 and 127,736,303 shares issued and outstanding, respectively

1,463 1,461 1,277

Additional paid-in capital 1,271,372 1,270,444 1,035,093

Retained earnings 710,351 689,210 691,066

Accumulated other comprehensive loss (78,879) (70,691) (98,481)

Total shareholders’ equity 1,904,307 1,890,424 1,628,955

Total liabilities and shareholders’ equity $ 16,907,049 16,766,617 14,453,727

Equity to assets 11.26 % 11.27 % 11.27 %

Tangible common equity to tangible assets* 8.66 % 8.64 % 8.85 %

Book value per share $ 13.02 12.94 12.75

Tangible book value per share* $ 9.72 9.63 9.75

Closing market price per share $ 12.69 12.00 12.02

Full time equivalent employees 2,170 2,169 1,996

Number of banking offices 161 161 141

* Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Income (Unaudited)

(dollars in thousands, except per share amounts)

Quarter ended

March 31, 2026 December 31,

2025 September 30, 2025 June 30, 2025 March 31, 2025

Interest income:

Loans receivable $ 180,549 184,047 177,723 154,914 164,638

Mortgage-backed securities 16,999 14,071 12,668 12,154 11,730

Taxable investment securities 1,601 1,324 1,183 999 933

Tax-free investment securities 762 777 752 512 512

FHLB stock dividends 768 701 652 318 366

Interest-earning deposits 871 1,905 1,700 2,673 2,416

Total interest income 201,550 202,825 194,678 171,570 180,595

Interest expense:

Deposits 51,083 52,947 51,880 46,826 47,325

Borrowed funds 7,985 7,712 6,824 5,300 5,452

Total interest expense 59,068 60,659 58,704 52,126 52,777

Net interest income 142,482 142,166 135,974 119,444 127,818

Provision for credit losses - loans 4,954 5,743 31,394 11,456 8,256

Provision for credit losses - unfunded commitments (585) 1,981 (189) (2,712) (345)

Net interest income after provision for credit losses 138,113 134,442 104,769 110,700 119,907

Noninterest income:

Gain on sale of investments 11 142 36 — —

Gain on sale of SBA loans 1,186 437 341 819 1,238

Service charges and fees 17,118 17,377 16,911 15,797 14,987

Trust and other financial services income 8,618 8,416 8,040 7,948 7,910

Gain on real estate owned, net 70 148 132 258 84

Income from bank-owned life insurance 2,042 8,269 1,751 1,421 1,331

Mortgage banking income 329 379 1,003 1,075 696

Other operating income 3,208 2,609 3,984 3,620 2,109

Total noninterest income 32,582 37,777 32,198 30,938 28,355

Noninterest expense:

Compensation and employee benefits 58,330 65,143 63,014 55,213 54,540

Premises and occupancy costs 9,863 8,170 7,707 7,122 8,400

Office operations 3,875 4,217 3,495 2,910 2,977

Collections expense 878 856 776 838 328

Processing expenses 16,806 16,454 15,072 12,973 13,990

Marketing expenses 1,668 1,827 1,932 3,018 1,880

Federal deposit insurance premiums 2,895 3,538 3,361 2,296 2,328

Professional services 3,523 3,366 3,010 3,990 2,756

Amortization of intangible assets 2,189 2,257 1,974 436 504

Merger, asset disposition and restructuring expense 631 4,160 31,260 6,244 1,123

Other expenses 3,380 3,533 1,897 2,500 2,911

Total noninterest expense 104,038 113,521 133,498 97,540 91,737

Income before income taxes 66,657 58,698 3,469 44,098 56,525

Income tax expense 16,121 12,985 302 10,423 13,067

Net income $ 50,536 45,713 3,167 33,675 43,458

Basic earnings per share $ 0.35 0.31 0.02 0.26 0.34

Diluted earnings per share $ 0.34 0.31 0.02 0.26 0.34

Weighted average common shares outstanding - diluted 146,850,635 146,703,966 141,175,516 128,114,509 128,299,013

Annualized return on average equity 10.86 % 9.70 % 0.69 % 8.26 % 10.90 %

Annualized return on average assets 1.22 % 1.10 % 0.08 % 0.93 % 1.22 %

Annualized return on average tangible common equity* 14.59 % 13.10 % 0.90 % 10.78 % 14.29 %

Efficiency ratio 59.43 % 63.09 % 79.38 % 64.86 % 58.74 %

Efficiency ratio, excluding certain items** 57.82 % 59.52 % 59.62 % 60.42 % 57.70 %

* Excludes goodwill and other intangible assets (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

** Excludes amortization of intangible assets and merger, asset disposition and restructuring expenses (non-GAAP). See reconciliation of non-GAAP financial measures for additional information relating to these items.

Northwest Bancshares, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Measures (Unaudited) *

(dollars in thousands, except per share amounts)

Quarter ended

March 31, 2026 December 31,

2025 March 31, 2025

Reconciliation of net income to adjusted net income:

Net income (GAAP) $ 50,536 45,713 43,458

Non-GAAP adjustments

Add: merger, asset disposition and restructuring expense 631 4,160 1,123

Less: tax benefit of non-GAAP adjustments (177) (1,165) (314)

Adjusted net income (non-GAAP) $ 50,990 48,708 44,267

Diluted earnings per share (GAAP) $ 0.34 0.31 0.34

Diluted adjusted earnings per share (non-GAAP) $ 0.35 0.33 0.35

Average equity $ 1,887,742 1,870,088 1,616,611

Average assets 16,832,777 16,494,008 14,402,483

Annualized return on average equity (GAAP) 10.86 % 9.70 % 10.90 %

Annualized return on average assets (GAAP) 1.22 % 1.10 % 1.22 %

Annualized return on average equity, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP) 10.95 % 10.33 % 11.11 %

Annualized return on average assets, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP) 1.23 % 1.17 % 1.25 %

The following non-GAAP financial measures used by the Company provide information useful to investors in understanding our operating performance and trends, and facilitate comparisons with the performance of our peers. The following table summarizes the non-GAAP financial measures derived from amounts reported in the Company’s Consolidated Statements of Financial Condition.

March 31,

2026 December 31,

2025 March 31,

2025

Tangible common equity to assets

Total shareholders’ equity $ 1,904,307 1,890,424 1,628,955

Less: goodwill and intangible assets (481,808) (483,997) (383,331)

Tangible common equity $ 1,422,499 1,406,427 1,245,624

Total assets $ 16,907,049 16,766,617 14,453,727

Less: goodwill and intangible assets (481,808) (483,997) (383,331)

Tangible assets $ 16,425,241 16,282,620 14,070,396

Tangible common equity to tangible assets 8.66 % 8.64 % 8.85 %

Tangible book value per share

Tangible common equity $ 1,422,499 1,406,427 1,245,624

Common shares outstanding 146,302,025 146,107,964 127,736,303

Tangible book value per share 9.72 9.63 9.75

Northwest Bancshares, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Measures (Unaudited) *

(dollars in thousands, except per share amounts)

The following table summarizes the non-GAAP financial measures derived from amounts reported in the Company’s Consolidated Statements of Income.

Quarter ended

March 31,

2026 December 31,

2025 September 30,

2025 June 30, 2025 March 31,

2025

Annualized return on average tangible common equity

Net income $ 50,536 45,713 3,167 33,675 43,458

Average shareholders’ equity 1,887,742 1,870,088 1,809,395 1,635,966 1,616,611

Less: average goodwill and intangible assets (483,240) (485,252) (409,875) (383,152) (383,649)

Average tangible common equity $ 1,404,502 1,384,836 1,399,520 1,252,814 1,232,962

Annualized return on average tangible common equity 14.59 % 13.10 % 0.90 % 10.78 % 14.29 %

Efficiency ratio, excluding amortization and merger, asset disposition and restructuring expenses

Noninterest expense $ 104,038 113,521 133,498 97,540 91,737

Less: amortization expense (2,189) (2,257) (1,974) (436) (504)

Less: merger, asset disposition and restructuring expenses (631) (4,160) (31,260) (6,244) (1,123)

Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses $ 101,218 107,104 100,264 90,860 90,110

Net interest income $ 142,482 142,166 135,974 119,444 127,818

Noninterest income 32,582 37,777 32,198 30,938 28,355

Net interest income plus noninterest income $ 175,064 179,943 168,172 150,382 156,173

Efficiency ratio, excluding amortization and merger, asset disposition and restructuring expenses 57.82 % 59.52 % 59.62 % 60.42 % 57.70 %

* The table summarizes the Company’s results from operations on a GAAP basis and on an operating (non-GAAP) basis for the periods indicated. Operating results exclude merger, asset disposition and restructuring expense and amortization expense. The net tax effect was calculated using statutory tax rates of approximately 28.0%. The Company believes this non-GAAP presentation provides a meaningful comparison of operational performance and facilitates a more effective evaluation and comparison of results to assess performance in relation to ongoing operations.

Northwest Bancshares, Inc. and Subsidiaries

Deposits (Unaudited)

(dollars in thousands)

Generally, deposits in excess of $250,000 per depositor are not insured by the Federal Deposit Insurance Corporation. The following table provides details regarding the Company’s uninsured deposits portfolio:

As of March 31, 2026

Balance Percent of

total deposits Number of

relationships

Uninsured deposits per the Call Report (1) $ 3,832,582 27.0 % 6,389

Less intercompany deposit accounts 1,349,832 9.5 % 12

Less collateralized deposit accounts 423,037 3.0 % 253

Uninsured deposits excluding intercompany and collateralized accounts $ 2,059,713 14.5 % 6,124

(1) Uninsured deposits presented may be different from actual amounts due to titling of accounts.

Our largest uninsured depositor, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $134.0 million, or 0.95% of total deposits, as of March 31, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $358 million, or 2.53% of total deposits, as of March 31, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $336,335 as of March 31, 2026.

The following table provides additional details for the Company’s deposit portfolio:

As of March 31, 2026

Balance Percent of

total deposits Number of

accounts

Personal noninterest bearing demand deposits $ 1,725,740 12.1 % 310,693

Business noninterest bearing demand deposits 1,395,304 9.8 % 47,840

Personal interest-bearing demand deposits 1,387,497 9.8 % 54,470

Business interest-bearing demand deposits 1,550,157 10.9 % 9,004

Personal money market deposits 1,806,277 12.7 % 27,709

Business money market deposits 928,504 6.5 % 3,207

Savings deposits 2,444,799 17.2 % 187,189

Time deposits 2,975,026 21.0 % 78,925

Total deposits $ 14,213,304 100.0 % 719,037

Our average deposit account balance as of March 31, 2026 was $19,767. The Company’s insured cash sweep deposit balance was $731 million as of March 31, 2026.

Northwest Bancshares, Inc. and Subsidiaries

Regulatory Capital Requirements (Unaudited)

(dollars in thousands)

At March 31, 2026

Actual (1) Minimum capital

requirements (2) Well capitalized

requirements

Amount Ratio Amount Ratio Amount Ratio

Total capital (to risk weighted assets)

Northwest Bancshares, Inc. $ 1,902,851 15.24 % $ 1,311,082 10.50 % $ 1,248,650 10.00 %

Northwest Bank 1,759,855 14.11 % 1,309,651 10.50 % 1,247,287 10.00 %

Tier 1 capital (to risk weighted assets)

Northwest Bancshares, Inc. 1,528,581 12.24 % 1,061,352 8.50 % 749,190 6.00 %

Northwest Bank 1,603,762 12.86 % 1,060,194 8.50 % 997,829 8.00 %

Common equity tier 1 capital (to risk weighted assets)

Northwest Bancshares, Inc. 1,528,581 12.24 % 874,055 7.00 % N/A N/A

Northwest Bank 1,603,762 12.86 % 873,101 7.00 % 810,736 6.50 %

Tier 1 capital (leverage) (to average assets)

Northwest Bancshares, Inc. 1,528,581 9.19 % 665,184 4.00 % N/A N/A

Northwest Bank 1,603,762 9.72 % 660,322 4.00 % 825,403 5.00 %

(1) March 31, 2026 figures are estimated.

(2) Amounts and ratios include the capital conservation buffer of 2.5%, which does not apply to Tier 1 capital to average assets (leverage ratio). For further information related to the capital conservation buffer, see “Item 1. Business - Supervision and Regulation” of our 2025 Annual Report on Form 10-K.

Northwest Bancshares, Inc. and Subsidiaries

Marketable Securities (Unaudited)

(dollars in thousands)

March 31, 2026

Marketable securities available-for-sale Amortized cost Gross unrealized

holding gains Gross unrealized

holding losses Fair value Weighted average duration

Debt issued by the U.S. government and agencies:

Due after five years through ten years $ 1,571 11 (11) 1,571 3.06

Due after ten years 40,722 — (7,230) 33,492 5.80

Debt issued by government sponsored enterprises:

Due after one year through five years 1,022 4 (1) 1,025 1.27

Due after five years through ten years 996 3 — 999 5.99

Municipal securities:

Due in one year or less 2,475 6 — 2,481 0.50

Due after one year through five years 10,492 72 (13) 10,551 2.22

Due after five years through ten years 26,140 343 (1,607) 24,876 6.55

Due after ten years 51,009 239 (7,459) 43,789 9.22

Corporate debt issues:

Due in one year or less 500 — — 500 —

Due after one year through five years 12,627 74 (160) 12,541 2.88

Due after five years through ten years 71,460 1,380 (367) 72,473 5.37

Mortgage-backed agency securities:

Fixed rate pass-through 513,746 2,160 (12,893) 503,013 6.98

Variable rate pass-through 2,835 55 (2) 2,888 3.70

Fixed rate agency CMBS 640,409 771 (76,538) 564,642 3.76

Variable rate agency CMBS 7,732 — (6) 7,726 1.94

Fixed rate agency CMOs 464,103 693 (36,816) 427,980 4.95

Variable rate agency CMOs 36,221 161 (10) 36,372 5.02

Total mortgage-backed agency securities 1,665,046 3,840 (126,265) 1,542,621 5.51

Total marketable securities available-for-sale $ 1,884,060 5,972 (143,113) 1,746,919 5.56

Marketable securities held-to-maturity

Government sponsored

Due after one year through five years 107,989 — (8,248) 99,741 2.73

Mortgage-backed agency securities:

Fixed rate pass-through 95,150 — (9,957) 85,193 4.14

Variable rate pass-through 301 2 — 303 4.64

Fixed rate agency CMBS 72,498 — (12,718) 59,780 3.46

Fixed rate agency CMOs 370,195 — (48,269) 321,926 5.70

Variable rate agency CMOs 528 — (1) 527 4.03

Total mortgage-backed agency securities 538,672 2 (70,945) 467,729 5.12

Total marketable securities held-to-maturity $ 646,661 2 (79,193) 567,470 4.72

Northwest Bancshares, Inc. and Subsidiaries

Asset Quality (Unaudited)

(dollars in thousands)

March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Nonaccrual loans:

Residential mortgage loans $ 10,500 12,247 11,497 8,482 7,025

Home equity loans 4,780 3,755 6,979 3,507 3,004

Consumer loans 5,732 5,711 5,898 4,418 5,201

Commercial real estate loans 47,337 57,485 82,580 62,091 31,763

Commercial and industrial loans 22,594 28,085 21,371 23,896 11,757

Total nonaccrual loans 90,943 107,283 128,325 102,394 58,750

Loans 90 days past due and still accruing 543 646 701 493 603

Nonperforming loans 91,486 107,929 129,026 102,887 59,353

Real estate owned, net 65 76 174 48 80

Other nonperforming assets (1) — — — — 16,102

Nonperforming assets $ 91,551 108,005 129,200 102,935 75,535

Nonperforming loans to total loans 0.70 % 0.83 % 1.00 % 0.91 % 0.53 %

Nonperforming assets to total assets 0.54 % 0.64 % 0.79 % 0.71 % 0.52 %

Allowance for credit losses to total loans 1.15 % 1.15 % 1.22 % 1.14 % 1.09 %

Allowance for credit losses to nonperforming loans 164.01 % 139.18 % 121.99 % 125.53 % 206.91 %

(1) Other nonperforming assets includes nonaccrual loans held-for-sale.

Northwest Bancshares, Inc. and Subsidiaries

Loans by Credit Quality Indicators (Unaudited)

(dollars in thousands)

At March 31, 2026 Pass Special

mention * Substandard ** Doubtful Loss Loans

receivable

Personal Banking:

Residential mortgage loans $ 3,025,485 — 10,499 — — 3,035,984

Home equity loans 1,491,020 — 4,780 — — 1,495,800

Consumer loans 2,654,310 — 6,257 — — 2,660,567

Total Personal Banking 7,170,815 — 21,536 — — 7,192,351

Commercial Banking:

Commercial real estate loans 2,651,304 147,384 362,626 — — 3,161,314

Commercial and industrial loans 2,543,444 45,383 113,456 — — 2,702,283

Total Commercial Banking 5,194,748 192,767 476,082 — — 5,863,597

Total loans $ 12,365,563 192,767 497,618 — — 13,055,948

At December 31, 2025

Personal Banking:

Residential mortgage loans $ 3,088,533 — 12,247 — — 3,100,780

Home equity loans 1,503,777 — 3,755 — — 1,507,532

Consumer loans 2,557,577 — 6,313 — — 2,563,890

Total Personal Banking 7,149,887 — 22,315 — — 7,172,202

Commercial Banking:

Commercial real estate loans 2,817,802 131,589 347,511 — — 3,296,902

Commercial and industrial loans 2,392,830 61,852 83,530 — — 2,538,212

Total Commercial Banking 5,210,632 193,441 431,041 — — 5,835,114

Total loans $ 12,360,519 193,441 453,356 — — 13,007,316

At September 30, 2025

Personal Banking:

Residential mortgage loans $ 3,146,355 — 11,498 — — 3,157,853

Home equity loans 1,513,914 — 6,979 — — 1,520,893

Consumer loans 2,447,208 — 6,597 — — 2,453,805

Total Personal Banking 7,107,477 — 25,074 — — 7,132,551

Commercial Banking:

Commercial real estate loans 2,912,166 171,005 412,493 — — 3,495,664

Commercial and industrial loans 2,141,236 82,009 89,473 — — 2,312,718

Total Commercial Banking 5,053,402 253,014 501,966 — — 5,808,382

Total loans $ 12,160,879 253,014 527,040 — — 12,940,933

At June 30, 2025

Personal Banking:

Residential mortgage loans $ 3,039,809 — 12,317 — — 3,052,126

Home equity loans 1,153,808 — 3,712 — — 1,157,520

Consumer loans 2,206,363 — 4,912 — — 2,211,275

Total Personal Banking 6,399,980 — 20,941 — — 6,420,921

Commercial Banking:

Commercial real estate loans 2,266,057 112,852 403,495 — — 2,782,404

Commercial and industrial loans 1,956,751 87,951 93,797 — — 2,138,499

Total Commercial Banking 4,222,808 200,803 497,292 — — 4,920,903

Total loans $ 10,622,788 200,803 518,233 — — 11,341,824

At March 31, 2025

Personal Banking:

Residential mortgage loans $ 3,110,770 — 10,877 — — 3,121,647

Home equity loans 1,138,367 — 3,210 — — 1,141,577

Consumer loans 2,075,719 — 5,750 — — 2,081,469

Total Personal Banking 6,324,856 — 19,837 — — 6,344,693

Commercial Banking:

Commercial real estate loans 2,497,722 86,779 208,233 — — 2,792,734

Commercial and industrial loans 1,964,699 63,249 51,070 — — 2,079,018

Total Commercial Banking 4,462,421 150,028 259,303 — — 4,871,752

Total loans $ 10,787,277 150,028 279,140 — — 11,216,445

* Includes $85.6 million, $38.2 million, $41.0 million, $4.0 million, and $4.7 million of acquired loans at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

** Includes $100.4 million, $93.2 million, $96.9 million, $19.2 million, and $18.0 million of acquired loans at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Northwest Bancshares, Inc. and Subsidiaries

Loan Delinquency (Unaudited)

(dollars in thousands)

March 31, 2026 * December 31, 2025 * September 30, 2025 * June 30, 2025 * March 31, 2025 *

Loans delinquent 30 days to 59 days:

Residential mortgage loans $ 44,502 1.5 % $ 41,180 1.3 % $ 1,639 0.1 % $ 561 — % $ 32,840 1.0 %

Home equity loans 5,932 0.4 % 6,488 0.4 % 4,644 0.3 % 4,664 0.4 % 3,882 0.3 %

Consumer loans 10,429 0.4 % 14,063 0.5 % 12,257 0.5 % 9,174 0.4 % 8,792 0.4 %

Commercial real estate loans 17,541 0.6 % 28,645 0.9 % 14,600 0.4 % 4,585 0.2 % 8,536 0.3 %

Commercial and industrial loans 7,127 0.3 % 5,657 0.2 % 9,974 0.4 % 5,569 0.3 % 6,841 0.3 %

Total loans delinquent 30 days to 59 days $ 85,531 0.7 % $ 96,033 0.7 % $ 43,114 0.3 % $ 24,553 0.2 % $ 60,891 0.5 %

Loans delinquent 60 days to 89 days:

Residential mortgage loans $ 2,531 0.1 % $ 10,934 0.4 % $ 7,917 0.3 % $ 8,958 0.3 % $ 3,074 0.1 %

Home equity loans 2,946 0.2 % 2,316 0.2 % 2,671 0.2 % 985 0.1 % 1,290 0.1 %

Consumer loans 4,264 0.2 % 4,599 0.2 % 3,691 0.2 % 3,233 0.1 % 2,808 0.1 %

Commercial real estate loans 25,859 0.8 % 12,941 0.4 % 1,575 — % 13,240 0.5 % 2,001 0.1 %

Commercial and industrial loans 8,432 0.3 % 2,899 0.1 % 1,915 0.1 % 2,031 0.1 % 2,676 0.1 %

Total loans delinquent 60 days to 89 days $ 44,032 0.3 % $ 33,689 0.3 % $ 17,769 0.1 % $ 28,447 0.3 % $ 11,849 0.1 %

Loans delinquent 90 days or more:

Residential mortgage loans $ 6,468 0.2 % $ 10,001 0.3 % $ 9,427 0.3 % $ 6,905 0.2 % $ 4,005 0.1 %

Home equity loans 3,263 0.2 % 2,492 0.2 % 2,963 0.2 % 1,879 0.2 % 1,893 0.2 %

Consumer loans 4,561 0.2 % 4,893 0.2 % 4,865 0.2 % 3,486 0.2 % 4,026 0.2 %

Commercial real estate loans 18,282 0.6 % 32,745 1.0 % 56,453 1.6 % 41,875 1.5 % 23,433 0.8 %

Commercial and industrial loans 11,266 0.4 % 16,269 0.6 % 9,490 0.4 % 10,433 0.5 % 5,994 0.3 %

Total loans delinquent 90 days or more $ 43,840 0.3 % $ 66,400 0.5 % $ 83,198 0.6 % $ 64,578 0.6 % $ 39,351 0.3 %

Total loans delinquent $ 173,403 1.3 % $ 196,122 1.5 % $ 144,081 1.1 % $ 117,578 1.0 % $ 112,091 1.0 %

* Represents delinquency, in dollars, divided by the respective total amount of that type of loan outstanding.

Northwest Bancshares, Inc. and Subsidiaries

Allowance for Credit Losses (Unaudited)

(dollars in thousands)

Quarter ended

March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

Beginning balance $ 150,212 157,396 129,159 122,809 116,819

Initial allowance on loans purchased with credit deterioration — — 6,029 — —

Provision 4,954 5,743 31,394 11,456 8,256

Charge-offs residential mortgage (1,001) (228) (137) (273) (588)

Charge-offs home equity (291) (558) (336) (413) (273)

Charge-offs consumer (4,531) (4,139) (3,994) (3,331) (3,805)

Charge-offs commercial real estate (254) (9,765) (4,312) (293) (116)

Charge-offs commercial and industrial (1,155) (532) (2,395) (3,597) (571)

Recoveries 2,111 2,295 1,988 2,801 3,087

Ending balance $ 150,045 150,212 157,396 129,159 122,809

Net charge-offs to average loans, annualized 0.16 % 0.40 % 0.29 % 0.18 % 0.08 %

Northwest Bancshares, Inc. and Subsidiaries

Average Balance Sheet (Unaudited)

(dollars in thousands)

The following table sets forth certain information relating to the Company’s average balance sheet and reflects the average yield on assets and average cost of liabilities for the periods indicated. Such yields and costs are derived by dividing income or expense by the average balance of assets or liabilities, respectively, for the periods presented. Average balances are calculated using daily averages.

Quarter ended

March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025

Average

balance Interest Avg. yield/ cost Average

balance Interest Avg.

yield/

cost Average

balance Interest Avg.

yield/

cost Average

balance Interest Avg.

yield/

cost Average

balance Interest Avg.

yield/

cost

Assets:

Interest-earning assets:

Residential mortgage loans $ 3,078,476 30,596 3.98 % $ 3,147,858 31,814 4.04 % $ 3,160,008 31,386 3.97 % $ 3,091,324 29,978 3.88 % $ 3,155,738 30,394 3.85 %

Home equity loans 1,501,203 21,512 5.81 % 1,512,049 22,802 5.98 % 1,421,717 21,080 5.88 % 1,145,655 16,265 5.69 % 1,139,728 16,164 5.75 %

Consumer loans 2,529,868 34,270 5.49 % 2,412,579 34,436 5.66 % 2,330,173 32,729 5.57 % 2,073,103 28,648 5.54 % 1,948,230 26,273 5.47 %

Commercial real estate loans 3,342,140 51,337 6.14 % 3,468,667 53,345 6.02 % 3,377,740 51,761 6.00 % 2,836,757 43,457 6.06 % 2,879,607 56,508 7.85 %

Commercial and industrial loans 2,632,150 43,497 6.61 % 2,441,346 42,447 6.80 % 2,278,859 41,519 7.13 % 2,102,115 37,287 7.02 % 2,053,213 36,012 7.02 %

Total loans receivable (a) (b) (d) 13,083,837 181,212 5.62 % 12,982,499 184,844 5.65 % 12,568,497 178,475 5.63 % 11,248,954 155,635 5.55 % 11,176,516 165,351 6.00 %

Mortgage-backed securities (c) 2,148,996 16,999 3.16 % 1,892,074 14,071 2.97 % 1,810,209 12,668 2.80 % 1,790,423 12,154 2.72 % 1,773,402 11,730 2.65 %

Investment securities (c) (d) 317,996 2,566 3.23 % 309,147 2,339 3.03 % 301,719 2,153 2.85 % 266,053 1,668 2.51 % 263,825 1,599 2.43 %

FHLB stock, at cost 36,220 768 8.59 % 32,876 701 8.46 % 30,434 652 8.51 % 17,838 318 7.15 % 20,862 366 7.11 %

Other interest-earning deposits 139,970 871 2.49 % 170,370 1,905 4.37 % 164,131 1,700 4.05 % 220,416 2,673 4.85 % 243,412 2,416 3.97 %

Total interest-earning assets 15,727,019 202,416 5.22 % 15,386,966 203,860 5.26 % 14,874,990 195,648 5.22 % 13,543,684 172,448 5.11 % 13,478,017 181,462 5.46 %

Noninterest-earning assets (e) 1,105,758 1,107,042 1,067,450 924,513 924,466

Total assets $ 16,832,777 $ 16,494,008 $ 15,942,440 $ 14,468,197 $ 14,402,483

Liabilities and shareholders’ equity:

Interest-bearing liabilities:

Savings deposits $ 2,395,887 6,072 1.03 % $ 2,362,215 6,324 1.06 % $ 2,343,137 6,679 1.13 % $ 2,212,175 6,521 1.18 % $ 2,194,305 6,452 1.19 %

Interest-bearing demand deposit 2,999,478 8,741 1.18 % 2,940,296 9,084 1.23 % 2,782,369 8,258 1.18 % 2,609,887 7,192 1.11 % 2,593,228 7,063 1.10 %

Money market deposit accounts 2,609,333 12,128 1.88 % 2,522,362 12,499 1.97 % 2,392,748 11,785 1.95 % 2,121,088 9,658 1.83 % 2,082,948 9,306 1.81 %

Time deposits 2,967,098 24,142 3.30 % 2,841,234 25,040 3.50 % 2,818,526 25,158 3.54 % 2,599,254 23,455 3.62 % 2,629,388 24,504 3.78 %

Total interest bearing deposits (g) 10,971,796 51,083 1.89 % 10,666,107 52,947 1.97 % 10,336,780 51,880 1.99 % 9,542,404 46,826 1.97 % 9,499,869 47,325 2.02 %

Borrowed funds (f) 404,547 3,875 3.88 % 354,894 3,425 3.83 % 347,357 3,366 3.84 % 208,342 2,046 3.94 % 224,122 2,206 3.99 %

Subordinated debt 114,800 2,204 7.68 % 114,800 2,285 7.79 % 114,745 1,335 4.65 % 114,661 1,148 4.00 % 114,576 1,148 4.01 %

Junior subordinated debentures 130,121 1,906 5.86 % 130,051 2,002 6.02 % 129,986 2,123 6.39 % 129,921 2,106 6.41 % 129,856 2,098 6.46 %

Total interest-bearing liabilities 11,621,264 59,068 2.06 % 11,265,852 60,659 2.14 % 10,928,868 58,704 2.13 % 9,995,328 52,126 2.09 % 9,968,423 52,777 2.15 %

Noninterest-bearing demand deposits (g) 3,074,939 3,105,108 2,959,871 2,611,597 2,588,502

Noninterest-bearing liabilities 248,832 252,960 244,306 225,306 228,947

Total liabilities 14,945,035 14,623,920 14,133,045 12,832,231 12,785,872

Shareholders’ equity 1,887,742 1,870,088 1,809,395 1,635,966 1,616,611

Total liabilities and shareholders’ equity $ 16,832,777 $ 16,494,008 $ 15,942,440 $ 14,468,197 $ 14,402,483

Net interest income/Interest rate spread FTE 143,348 3.16 % 143,201 3.12 % 136,944 3.09 % 120,322 3.02 % 128,685 3.31 %

Net interest-earning assets/Net interest margin FTE $ 4,105,755 3.70 % $ 4,121,114 3.69 % $ 3,946,122 3.65 % $ 3,548,356 3.56 % $ 3,509,594 3.87 %

Tax equivalent adjustment (d) 866 1,035 970 878 867

Net interest income, GAAP basis 142,482 142,166 135,974 119,444 127,818

Ratio of interest-earning assets to interest-bearing liabilities 1.35X 1.37X 1.36X 1.36X 1.35X

(a) Average gross loans receivable includes loans held as available-for-sale and loans placed on nonaccrual status.

(b) Interest income includes accretion/amortization of deferred loan fees/expenses, which was not material.

(d) Interest income on tax-free investment securities and tax-free loans are presented on a fully taxable equivalent (“FTE”) basis.

(e) Average balances include the effect of unrealized gains or losses on securities held as available-for-sale.

(f) Average balances include FHLB borrowings and collateralized borrowings.

(g) Average cost of total deposits were 1.48%, 1.53%, 1.55%, 1.55%, and 1.59%, respectively.

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3 Easton Oval Suite 500

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Columbus

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