Northwest Bancshares Inc (OQ:NWBI)

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 3 Easton Oval Suite 500
Tel: N/A
IR: See website
Key People
Louis J. Torchio
President, Chief Executive Officer, Director
Douglas M. Schosser
Chief Financial Officer
William W. Harvey
Chief Operating Officer, Senior Executive Vice President, Director
Scott J. Watson
Executive Vice President, Chief Information Officer
Gregory J. Betchkal
Executive Vice President, Chief Risk Officer
Business Overview
Northwest Bancshares, Inc. is a bank holding company of Northwest Bank (the Bank). Northwest Bank is a Pennsylvania-chartered savings bank. The Bank is a community-oriented financial institution offering personal and business banking solutions, investment management and trust services. The Banks principal lending activities are the origination of loans secured by first mortgages on owner-occupied, one-to-four-family residences, shorter term consumer loans, and commercial business and commercial real estate loans. Its principal sources of funds for lending activities include deposits, borrowings, repayments on loans, cash flows from investment and mortgage-backed securities and income provided from operations. It offers other consumer loans, such as direct and indirect automobile loans, sales finance loans, credit card loans, and others. The Bank has approximately 142 community-banking locations throughout its market area in Pennsylvania, western New York, eastern Ohio, and Indiana.
Financial Overview
For the three months ended 31 March 2024, Northwest Bancshares Inc interest income increased 19% to $160.2M. Net interest income after loan loss provision decreased 7% to $99.8M. Net income applicable to common stockholders decreased 13% to $29.1M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 11% to 3.1%, Net Interest Spread, Total -% decrease of 21% to 2.52%.
Employees: 2,030 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $1,680M as of Mar 31, 2024
Annual revenue (TTM): $613.22M as of Mar 31, 2024
EBITDA (TTM): $245.70M as of Mar 31, 2024
Net annual income (TTM): $130.12M as of Mar 31, 2024
Free cash flow (TTM): $19.36M as of Mar 31, 2024
Net Debt Last Fiscal Year: $124.60M as of Mar 31, 2024
Shares outstanding: 127,264,095 as of Apr 30, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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