v3.26.1
Acquisition (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of recognized identified assets acquired and liabilities assumed
The following table shows the assessment of the consideration transferred and assets acquired and the liabilities assumed that were recorded at fair value on the date of acquisition, inclusive of the aforementioned measurement period adjustments (dollars in thousands): 
Consideration paid:
Northwest Bancshares, Inc. common stock issued$230,200 
Cash consideration paid3,607 
Total consideration paid233,807 
Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value
Cash and cash equivalents$34,506 
Investment securities available-for-sale160,728 
Loans, net1,814,501 
Federal Home Loan Bank stock29,408 
Premises and equipment15,862 
Core deposit intangible42,000 
Other assets107,932 
Deposits(1,617,611)
Borrowings(394,135)
Other liabilities(23,385)
Total identifiable net assets$169,806 
Goodwill$64,001 
Schedule of loan portfolio with initial ACL acquisition on PCD loans The following table presents additional information related to the acquired Penns Woods loan portfolio at the acquisition date, including the initial ACL recorded at acquisition on the PCD loans (amounts in thousands).
Non PCD loans
Principal balance at acquisition$1,766,599 
Net discount at acquisition(68,716)
Purchase price$1,697,883 
PCD loans
Principal balance at acquisition$119,416 
Initial allowance for credit losses at acquisition(6,029)
Non-credit discount at acquisition (2,798)
Purchase price$110,589 
Schedule of pro forma information
The following table presents unaudited pro forma information as if the acquisition of Penns Woods had occurred on January 1, 2025. These results combine the historical results of Penns Woods in the Company's Consolidated Statements of Income and while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place on January 1, 2025. No adjustments have been made to the pro forma results regarding possible revenue enhancements or expense efficiencies. Pro forma adjustments below include the net impact of Penns Woods loan accretion, CDI amortization and the elimination of merger-related costs and day 1 provision expense for non-PCD acquired loans. The Company expects to achieve further operating cost savings and other business synergies, as a result of the acquisition, which are not reflected in the pro forma amounts below (dollars in thousands):

Proforma (unaudited)Proforma (unaudited)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Total revenues (1)$181,167 172,428 356,231 350,309 
Net income available to common shareholders53,552 42,542 104,264 94,667 
(1) Includes net interest income and total noninterest income