EXHIBIT 99.1

 

PRESS RELEASE OF NORTHWEST BANCSHARES, INC.

EARNINGS RELEASE

 

FOR IMMEDIATE RELEASE

Northwest Bancshares, Inc. Announces Third Quarter 2026 GAAP net income of

$51 million, or $0.34 per diluted share

Record total revenue and net interest income

Adjusted diluted EPS (non-GAAP) of $0.35 per share

31% average C&I loan growth from prior year

Credit quality remained strong with annualized net charge-offs of 0.15% and nonperforming loans of 0.74%

Columbus, Ohio — October 26, 2026 Northwest Bancshares, Inc. (the “Company”) (Nasdaq: NWBI) announced net income for the quarter ended September 30, 2026 of $51 million, or $0.34 per diluted share. This represents an increase of $48 million compared to the same quarter last year, when net income was $3 million, or $0.02 per diluted share, and a decrease of $3 million compared to the prior quarter, when net income was $54 million, or $0.36 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended September 30, 2026 were 10.42% and 1.18% compared to 0.69% and 0.08% for the same quarter last year and 11.20% and 1.27% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended September 30, 2026 was $51 million, or $0.35, per diluted share, which decreased by $3 million from $54 million, or $0.37, per diluted share, in the prior quarter. This decrease was primarily driven by an increase in provision for credit losses expense of $2 million and an increase in noninterest expense of $5 million which were partially offset by an increase in net interest income of $2 million and an increase in noninterest income of $2 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended September 30, 2026 were 10.45% and 1.18% compared to 11.26% and 1.28% 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 November 17, 2026 to shareholders of record as of November 5, 2026. This is the 128th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of September 30, 2026, this represents an annualized dividend yield of approximately 5.4%.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “The Northwest Team delivered yet another quarter of strong performance, with record total revenue and net interest income, and a balanced and consistent performance across the whole bank. We drove 31% year-over-year average loan growth in our C&I business, with continued growth in our national specialty business verticals and middle market portfolio, and benefited from the strength of our retail deposit franchise and low deposit costs, one of the best-in-class among our peers.

We continue to execute our strategy for delivering sustainable, responsible growth, investing in its key drivers, including our people, our communities and the physical infrastructure that make it possible. In the third quarter we opened our first two financial centers in Columbus, added talent in the Columbus market and to our senior leadership team, and maintained our expense management discipline, with an efficiency ratio of 58.9% and adjusted efficiency ratio of 57.8%. We were also recognized in Forbes' World's Top Performing Banks 2026.

We look forward to a strong finish in the fourth quarter of 2026, as we build on the momentum the team is developing in Columbus and across our entire retail footprint and commercial network. Our focus remains on driving excellence across all aspects of the bank, continuing to optimize our operations, and serving our core customers and communities with the personal approach they value.”

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Balance Sheet Highlights

Dollars in thousands																					Change 3Q26 vs.
			3Q26						2Q26						3Q25						2Q26						3Q25
Average loans receivable			$	13,302,278					13,094,235						12,568,497						1.6		%				5.8		%
Average investments			2,604,899						2,531,603						2,111,928						2.9		%				23.3		%
Average deposits			14,139,954						14,133,825						13,296,651						—		%				6.3		%
Average borrowed funds			617,533						379,262						347,357						62.8		%				77.8		%

Balance sheet highlights compared to the quarter ended September 30, 2025

•Average loans receivable increased $734 million primarily driven by the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition

•Average investments grew $493 million primarily driven by the Penns Woods acquisition and a targeted increase in the overall securities portfolio

•Average deposits grew $843 million primarily driven by an increase in interest-bearing account balances primarily due to the addition of the Penns Woods deposit accounts

•Average borrowings increased $270 million due to average loan and investment growth exceeding the rate of average deposit growth

Balance sheet highlights compared to the quarter ended June 30, 2026

•Average loans receivable increased $208 million driven by growth in our commercial and industrial and consumer loan portfolios offset by a decline in our commercial real estate portfolio

•Average investments grew $73 million due to a targeted increase in the overall securities portfolio

•Average deposits grew $6 million primarily driven by an increase in non-interest bearing and money market deposit account balances partly due to customers shifting funds to these products as their time deposits matured

•Average borrowings increased $238 million for the same reason noted above

Income Statement Highlights

Dollars in thousands																											Change 3Q26 vs.
			3Q26						2Q26						3Q25												2Q26												3Q25
Interest income			$	210,171					205,140						194,678												2.5		%										8.0		%
Interest expense			61,221						58,202						58,704												5.2		%										4.3		%
Net interest income			$	148,950					146,938						135,974												1.4		%										9.5		%
Net interest margin FTE			3.70		%				3.75		%				3.65		%

Compared to the quarter ended September 30, 2025, net interest income increased $13 million and net interest margin increased to 3.70% from 3.65%. This increase in net interest income resulted primarily from the following:

•A $15 million increase in interest income that was the result of:

◦An increase in average interest-earning assets partially driven by the Penns Woods acquisition during the third quarter 2025

◦Yields on average interest-earning assets was 5.22% for both periods with an increase in investment yields offset by a decline in loan yields

•A $3 million increase in interest expense that was the result of :

◦An increase in the average balance of interest-bearing liabilities partially driven by the Penns Woods acquisition

◦Partially offset by a decline in the cost of interest-bearing liabilities to 2.05% from 2.13%

Compared to the quarter ended June 30, 2026, net interest income increased $2 million and net interest margin decreased to 3.70% for the quarter ended September 30, 2026 from 3.75%. This increase in net interest income resulted primarily from the following:

•A $5 million increase in interest income that was driven by:

◦Growth in the average interest-earning balances

◦Yields on average interest-earning assets declined to 5.22% from 5.23% with an increase in investment yields offset by a decline in loan yields which was driven by a decline in the accretion of acquired loan fair value marks coupled with a change in portfolio mix

•A $3 million increase in interest expense driven by:

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◦An increase in the average balance and average cost of interest-bearing liabilities

◦Average cost of interest-bearing deposits increased to 1.85% from 1.83% while average cost of borrowings declined slightly to 3.94% from 3.96%

Dollars in thousands																											Change 3Q26 vs.
			3Q26						2Q26						3Q25												2Q26												3Q25
Provision for credit losses - loans			$	5,220					4,280						31,394												22.0		%										(83.4)		%
Provision for credit losses - unfunded commitments			3,896						2,357						(189)												65.3		%										2161.4		%
Total provision for credit losses expense			$	9,116					6,637						31,205												37.4		%										(70.8)		%
Classified loans			$	468,968					524,056						527,040												(10.5)		%										(11.0)		%
Classified loans as a percent of total loans			3.50		%				3.96		%				4.07		%

Compared to the quarter ended September 30, 2025:

•Total provision for credit losses decreased $22 million primarily driven by the Day 1 initial provision from the Penns Woods acquisition of $20.6 million

•Classified loans decreased $58 million driven by changes in our commercial real estate portfolio primarily due to the payoff of classified loans during the quarter

Compared to the quarter ended June 30, 2026:

•Total provision for credit losses increased $2 million primarily driven by growth in our commercial lending portfolio, including unfunded commitments

•Classified loans decreased $55 million driven by the same factors discussed above

Dollars in thousands																											Change 3Q26 vs.
			3Q26						2Q26						3Q25												2Q26												3Q25
Noninterest income:
Gain on sale of investments			$	313					336						36												(6.8)		%										769.4		%
Gain on sale of SBA loans			1,081						1,217						341												(11.2)		%										217.0		%
Service charges and fees			17,935						16,908						16,911												6.1		%										6.1		%
Trust and other financial services income			10,108						9,449						8,040												7.0		%										25.7		%
Gain on real estate owned, net			315						20						132												1475.0		%										138.6		%
Income from bank-owned life insurance			2,222						2,013						1,751												10.4		%										26.9		%
Mortgage banking income			363						738						1,003												(50.8)		%										(63.8)		%
Other operating income			3,590						3,548						3,984												1.2		%										(9.9)		%
Total noninterest income			$	35,927					34,229						32,198												5.0		%										11.6		%

     

Noninterest income increased $4 million from the quarter ended September 30, 2025 from the following reasons:

•$1 million increase in service charges and fees driven by deposit related fees based on customer activity related to the Penns Woods acquisition

•$2 million increase in trust and other financial services income due to growth in our wealth management business

Noninterest income increased by $2 million from the quarter ended June 30, 2026 from the following reasons:

•$1 million increase in service charges and fees driven by both loan and deposit related fees based on customer activity

•$1 million increase in trust and other financial services income due to growth in our wealth management business

Dollars in thousands																											Change 3Q26 vs.
			3Q26						2Q26						3Q25												2Q26												3Q25
Noninterest expense:
Personnel expense			$	63,931					63,476						63,014												0.7		%										1.5		%
Non-personnel expense			45,040						40,807						70,484												10.4		%										(36.1)		%
Total noninterest expense			$	108,971					104,283						133,498												4.5		%										(18.4)		%

Noninterest expense decreased $25 million from the quarter ended September 30, 2025 due to the following reasons:

•Personnel expense increased $1 million driven by an increase in core compensation and benefits expense due to the addition of Penns Woods employees

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•Non-personnel expense decreased by $25 million due to a $31 million decrease in merger, asset disposition and restructuring expense. This decrease was partially offset by an increase of $2 million in processing expenses and a $1 million increase in operating expense primarily due to the addition of the Penns Woods branches to our footprint.

Noninterest expense increased $5 million from the quarter ended June 30, 2026 due to the following reasons:

•Non-personnel expense increased by $4 million due to an increase of $3 million in FDIC insurance premium expense, as the prior quarter included a benefit related to prior period assessment rate changes

Dollars in thousands																											Change 3Q26 vs.
			3Q26						2Q26						3Q25												2Q26												3Q25
Income before income taxes			$	66,790					70,247						3,469												(4.9)		%										1825.3		%
Income tax expense			16,071						16,701						302												(3.8)		%										5221.5		%
Net income			$	50,719					53,546						3,167												(5.3)		%										1501.5		%

The provision for income taxes increased by $16 million from the quarter ended September 30, 2025 and decreased $1 million for the quarter ended June 30, 2026 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended September 30, 2025 and decreased from the quarter ended June 30, 2026 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 September 30, 2026, Northwest operated 153 full-service financial centers and eleven 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

 

 

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This release may contain forward-looking statements. The words “believe,” “anticipate,” “estimate,” “expect,” “project,” “target,” “goal” and similar expressions are examples of language 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 regarding our goals, intentions and expectations; statements regarding our financial condition and results of operations, including statements related to our earnings outlook; future dividend payments; our business plans, prospects, growth, customers, investments and operating strategies; 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, assumptions, and other important factors including but not limited to the following: 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; volatility in fuel prices and resulting macroeconomic impacts; 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 and increased risk due to artificial

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intelligence; 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, geopolitical uncertainty, 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 our Annual Report on Form 10-K for the year ended December 31, 2025, including under the section entitled "Item 1A - Risk Factors," and in subsequent filings made by us with the SEC. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to publicly release any updates or revisions to reflect any change in our expectations with regard to any change in events, conditions or circumstances on which any such statement is based, unless required by law.

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.

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Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Financial Condition (Unaudited)

(dollars in thousands, except per share amounts)

			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Assets
Cash and cash equivalents			$	223,310					248,499						286,707						233,647						278,817
Marketable securities available-for-sale (amortized cost of $1,974,633, $1,972,165, $1,884,060, $1,710,978 and $1,405,959, respectively)			1,751,568						1,829,179						1,746,919						1,586,382						1,270,880
Marketable securities held-to-maturity (fair value of $518,383, $550,416, $567,470, $605,929 and $618,633, respectively)			612,731						630,802						646,661						683,369						702,392
Total cash and cash equivalents and marketable securities			2,587,609						2,708,480						2,680,287						2,503,398						2,252,089
Loans held-for-sale			8,374						15,391						16,846						22,437						22,297
Residential mortgage loans			2,984,204						3,001,908						3,035,984						3,100,780						3,157,853
Home equity loans			1,496,559						1,497,157						1,495,800						1,507,532						1,520,893
Consumer loans			2,918,083						2,843,058						2,660,567						2,563,890						2,453,805
Commercial real estate loans			2,931,601						2,988,237						3,161,314						3,296,902						3,495,664
Commercial and industrial loans			3,062,849						2,898,867						2,702,283						2,538,212						2,312,718
Total loans receivable			13,393,296						13,229,227						13,055,948						13,007,316						12,940,933
Allowance for credit losses			(149,626)						(149,321)						(150,045)						(150,212)						(157,396)
Loans receivable, net			13,243,670						13,079,906						12,905,903						12,857,104						12,783,537
FHLB stock, at cost			51,439						43,345						32,781						36,628						33,349
Accrued interest receivable			59,783						57,473						57,221						56,291						55,549
Real estate owned, net			2,772						63						65						76						174
Premises and equipment, net			148,843						144,423						141,477						140,381						139,491
Bank-owned life insurance			294,011						293,354						292,103						294,386						303,115
Goodwill			444,997						444,997						444,330						444,330						438,402
Other intangible assets, net			33,242						35,312						37,478						39,667						47,924
Other assets			435,119						384,395						298,558						371,919						305,082
Total assets			$	17,309,859					17,207,139						16,907,049						16,766,617						16,381,009
Liabilities and shareholders’ equity
Liabilities
Noninterest-bearing demand deposits			$	3,166,262					3,191,560						3,121,044						3,123,229						3,089,963
Interest-bearing demand deposits			3,041,379						2,916,518						2,937,654						2,995,759						2,898,350
Money market deposit accounts			2,831,245						2,766,675						2,734,781						2,540,818						2,462,979
Savings deposits			2,438,182						2,459,255						2,444,799						2,366,513						2,373,413
Time deposits			2,797,970						2,827,810						2,975,026						2,916,698						2,871,544
Total deposits			14,275,038						14,161,818						14,213,304						13,943,017						13,696,249
Borrowed funds			786,715						612,075						350,884						446,283						368,241
Subordinated debt			—						114,800						114,800						114,800						114,800
Junior subordinated debentures			130,288						130,223						130,158						130,093						130,028
Advances by borrowers for taxes and insurance			20,300						47,400						40,127						37,309						21,840
Accrued interest payable			7,616						8,385						8,585						6,846						10,555
Other liabilities			197,668						205,031						144,884						197,845						183,560
Total liabilities			15,417,625						15,279,732						15,002,742						14,876,193						14,525,273
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, 146,559,425; 146,396,520; 146,302,025; 146,107,964 and 146,097,057 shares issued and outstanding, respectively			1,466						1,464						1,463						1,461						1,461
Additional paid-in capital			1,277,121						1,274,117						1,271,372						1,270,444						1,268,694
Retained earnings			755,548						734,423						710,351						689,210						672,843
Accumulated other comprehensive loss			(141,901)						(82,597)						(78,879)						(70,691)						(87,262)
Total shareholders’ equity			1,892,234						1,927,407						1,904,307						1,890,424						1,855,736
Total liabilities and shareholders’ equity			$	17,309,859					17,207,139						16,907,049						16,766,617						16,381,009
Equity to assets			10.93		%				11.20		%				11.26		%				11.27		%				11.33		%
Tangible common equity to tangible assets*			8.40		%				8.65		%				8.66		%				8.64		%				8.62		%
Book value per share			$	12.91					13.17						13.02						12.94						12.70
Tangible book value per share*			$	9.65					9.88						9.72						9.63						9.37
Closing market price per share			$	14.84					15.16						12.69						12.00						12.39
Full time equivalent employees			2,157						2,183						2,170						2,169						2,190
Number of banking offices			164						162						161						161						161

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

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Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Income (Unaudited)

(dollars in thousands, except per share amounts)

			Quarter ended
			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Interest income:
Loans receivable			$	186,750					182,469						180,549						184,047						177,723
Mortgage-backed securities			19,001						18,024						16,999						14,071						12,668
Taxable investment securities			1,990						1,799						1,601						1,324						1,183
Tax-free investment securities			594						674						762						777						752
FHLB stock dividends			1,061						738						768						701						652
Interest-earning deposits			775						1,436						871						1,905						1,700
Total interest income			210,171						205,140						201,550						202,825						194,678
Interest expense:
Deposits			51,298						50,384						51,083						52,947						51,880
Borrowed funds			9,923						7,818						7,985						7,712						6,824
Total interest expense			61,221						58,202						59,068						60,659						58,704
Net interest income			148,950						146,938						142,482						142,166						135,974
Provision for credit losses - loans			5,220						4,280						4,954						5,743						31,394
Provision for credit losses - unfunded commitments			3,896						2,357						(585)						1,981						(189)
Net interest income after provision for credit losses			139,834						140,301						138,113						134,442						104,769
Noninterest income:
Gain on sale of investments			313						336						11						142						36
Gain on sale of SBA loans			1,081						1,217						1,186						437						341
Service charges and fees			17,935						16,908						17,118						17,377						16,911
Trust and other financial services income			10,108						9,449						8,618						8,416						8,040
Gain on real estate owned, net			315						20						70						148						132
Income from bank-owned life insurance			2,222						2,013						2,042						8,269						1,751
Mortgage banking income			363						738						329						379						1,003
Other operating income			3,590						3,548						3,208						2,609						3,984
Total noninterest income			35,927						34,229						32,582						37,777						32,198
Noninterest expense:
Compensation and employee benefits			63,931						63,476						58,330						65,143						63,014
Premises and occupancy costs			8,943						8,494						9,863						8,170						7,707
Office operations			3,651						3,660						3,875						4,217						3,495
Collections expense			1,109						665						878						856						776
Processing expenses			17,452						16,948						16,806						16,454						15,072
Marketing expenses			2,662						2,362						1,668						1,827						1,932
Federal deposit insurance premiums			3,169						(291)						2,895						3,538						3,361
Professional services			3,094						3,490						3,523						3,366						3,010
Amortization of intangible assets			2,070						2,166						2,189						2,257						1,974
Merger, asset disposition and restructuring expense			238						426						631						4,160						31,260
Other expenses			2,652						2,887						3,380						3,533						1,897
Total noninterest expense			108,971						104,283						104,038						113,521						133,498
Income before income taxes			66,790						70,247						66,657						58,698						3,469
Income tax expense			16,071						16,701						16,121						12,985						302
Net income			$	50,719					53,546						50,536						45,713						3,167
Basic earnings per share			$	0.35					0.37						0.35						0.31						0.02
Diluted earnings per share			$	0.34					0.36						0.34						0.31						0.02
Weighted average common shares outstanding - diluted			147,460,563						147,127,223						146,850,635						146,703,966						141,175,516
Annualized return on average equity			10.42		%				11.20		%				10.86		%				9.70		%				0.69		%
Annualized return on average assets			1.18		%				1.27		%				1.22		%				1.10		%				0.08		%
Annualized return on average tangible common equity*			13.86		%				14.94		%				14.59		%				13.10		%				0.90		%
Efficiency ratio			58.94		%				57.56		%				59.43		%				63.09		%				79.38		%
Efficiency ratio, excluding certain items**			57.79		%				56.24		%				57.82		%				59.57		%				59.63		%

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

**    Excludes gain on sale of investments, 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.

7

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Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Income (Unaudited)

(dollars in thousands, except per share amounts)

			Nine months ended September 30,
			2026						2025
Interest income:
Loans receivable			$	549,768					497,275
Mortgage-backed securities			54,024						36,552
Taxable investment securities			5,390						3,115
Tax-free investment securities			2,030						1,776
FHLB stock dividends			2,567						1,336
Interest-earning deposits			3,082						6,789
Total interest income			616,861						546,843
Interest expense:
Deposits			152,765						146,031
Borrowed funds			25,726						17,576
Total interest expense			178,491						163,607
Net interest income			438,370						383,236
Provision for credit losses - loans			14,454						51,106
Provision for credit losses - unfunded commitments			5,668						(3,246)
Net interest income after provision for credit losses			418,248						335,376
Noninterest income:
Gain on sale of investments			660						36
Gain on sale of SBA loans			3,484						2,398
Service charges and fees			51,961						47,695
Trust and other financial services income			28,175						23,898
Gain on real estate owned, net			405						474
Income from bank-owned life insurance			6,277						4,503
Mortgage banking income			1,430						2,774
Other operating income			10,346						9,713
Total noninterest income			102,738						91,491
Noninterest expense:
Compensation and employee benefits			185,737						172,767
Premises and occupancy costs			27,300						23,229
Office operations			11,186						9,382
Collections expense			2,652						1,942
Processing expenses			51,206						42,035
Marketing expenses			6,692						6,830
Federal deposit insurance premiums			5,773						7,985
Professional services			10,107						9,756
Amortization of intangible assets			6,425						2,914
Merger, asset disposition and restructuring expense			1,295						38,627
Other expenses			8,919						7,308
Total noninterest expense			317,292						322,775
Income before income taxes			203,694						104,092
Income tax expense			48,893						23,792
Net income			$	154,801					80,300
Basic earnings per share			$	1.06					0.61
Diluted earnings per share			$	1.05					0.61
Weighted average common shares outstanding - diluted			147,161,720						132,700,517
Annualized return on average equity			10.82		%				6.36		%
Annualized return on average assets			1.22		%				0.72		%
Annualized return on tangible common equity*			14.46		%				8.29		%
Efficiency ratio			58.64		%				67.99		%
Efficiency ratio, excluding certain items**			57.28		%				59.25		%

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

**    Excludes gain on sale of investments, 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.

8

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Northwest Bancshares, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Measures (Unaudited) *

(dollars in thousands, except per share amounts)

			Quarter ended																		Nine months ended September 30,
			September 30, 2026						June 30, 2026						September 30, 2025						2026						2025
Reconciliation of net income to adjusted net income:
Net income (GAAP)			$	50,719					53,546						3,167						154,801						80,300
Non-GAAP adjustments
Add: merger, asset disposition and restructuring expense			238						426						31,260						1,295						38,627
Add: CECL Day 1 non-PCD and unfunded provision expense			—						—						20,664						—						20,664
Less: tax benefit of non-GAAP adjustments			(67)						(119)						(14,539)						(363)						(16,601)
Adjusted net income (non-GAAP)			$	50,890					53,853						40,552						155,733						122,990
Diluted earnings per share (GAAP)			$	0.34					0.36						0.02						1.05						0.61
Diluted adjusted earnings per share (non-GAAP)			$	0.35					0.37						0.29						1.06						0.93
Average equity			$	1,931,345					1,918,135						1,809,395						1,912,567						1,688,030
Average assets			17,122,498						16,863,639						15,942,440						16,940,700						14,943,347
Annualized return on average equity (GAAP)			10.42		%				11.20		%				0.69		%				10.82		%				6.36		%
Annualized return on average assets (GAAP)			1.18		%				1.27		%				0.08		%				1.22		%				0.72		%
Annualized return on average equity, excluding merger, asset disposition and restructuring expense and CECL Day 1 non-PCD and unfunded provision expense, net of tax (non-GAAP)			10.45		%				11.26		%				8.89		%				10.89		%				9.74		%
Annualized return on average assets, excluding merger, asset disposition and restructuring expense and CECL Day 1 non-PCD and unfunded provision expense, net of tax (non-GAAP)			1.18		%				1.28		%				1.01		%				1.23		%				1.10		%

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.

			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Tangible common equity to assets
Total shareholders’ equity			$	1,892,234					1,927,407						1,904,307						1,890,424						1,855,736
Less: goodwill and intangible assets			(478,239)						(480,309)						(481,808)						(483,997)						(486,326)
Tangible common equity			$	1,413,995					1,447,098						1,422,499						1,406,427						1,369,410
Total assets			$	17,309,859					17,207,139						16,907,049						16,766,617						16,381,009
Less: goodwill and intangible assets			(478,239)						(480,309)						(481,808)						(483,997)						(486,326)
Tangible assets			$	16,831,620					16,726,830						16,425,241						16,282,620						15,894,683
Tangible common equity to tangible assets			8.40		%				8.65		%				8.66		%				8.64		%				8.62		%
Tangible book value per share
Tangible common equity			$	1,413,995					1,447,098						1,422,499						1,406,427						1,369,410
Common shares outstanding			146,559,425						146,396,520						146,302,025						146,107,964						146,097,057
Tangible book value per share			9.65						9.88						9.72						9.63						9.37

9

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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																														Nine months ended September 30,
			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025						2026						2025
Annualized return on average tangible common equity
Net income			$	50,719					53,546						50,536						45,713						3,167						154,801						80,300
Average shareholders’ equity			1,931,345						1,918,135						1,887,742						1,870,088						1,809,395						1,912,567						1,688,030
Less: average goodwill and intangible assets			(479,590)						(481,022)						(483,240)						(485,252)						(409,875)						(481,271)						(392,321)
Average tangible common equity			$	1,451,755					1,437,113						1,404,502						1,384,836						1,399,520						1,431,296						1,295,709
Annualized return on average tangible common equity			13.86		%				14.94		%				14.59		%				13.10		%				0.90		%				14.46		%				8.29		%
Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses
Noninterest expense			$	108,971					104,283						104,038						113,521						133,498						317,292						322,775
Less: amortization expense			(2,070)						(2,166)						(2,189)						(2,257)						(1,974)						(6,425)						(2,914)
Less: merger, asset disposition and restructuring expenses			(238)						(426)						(631)						(4,160)						(31,260)						(1,295)						(38,627)
Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses			$	106,663					101,691						101,218						107,104						100,264						309,572						281,234
Net interest income			$	148,950					146,938						142,482						142,166						135,974						438,370						383,236
Noninterest income			35,927						34,229						32,582						37,777						32,198						102,738						91,491
Less: gain on the sale of investments			(313)						(336)						(11)						(142)						(36)						(660)						(36)
Net interest income plus noninterest income, excluding gain on sale of investments			$	184,564					180,831						175,053						179,801						168,136						540,448						474,691
Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses			57.79		%				56.24		%				57.82		%				59.57		%				59.63		%				57.28		%				59.25		%

*    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, gain on sale of investments, 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.

10

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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 September 30, 2026
			Balance						Percent of total deposits						Number of relationships
Uninsured deposits per the Call Report (1)			$	4,084,262					28.6		%				6,330
Less intercompany deposit accounts			1,445,562						10.1		%				12
Less collateralized deposit accounts			446,859						3.1		%				253
Uninsured deposits excluding intercompany and collateralized accounts			$	2,191,841					15.4		%				6,065

(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 $236 million, or 1.7% of total deposits, as of September 30, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $443 million, or 3.1% of total deposits, as of September 30, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $361,392 as of September 30, 2026.

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

			As of September 30, 2026
			Balance						Percent of total deposits						Number of accounts
Personal noninterest-bearing demand deposits			$	1,729,843					12.1		%				311,740
Business noninterest-bearing demand deposits			1,436,419						10.1		%				47,697
Personal interest-bearing demand deposits			1,361,249						9.5		%				53,980
Business interest-bearing demand deposits			1,680,130						11.8		%				8,690
Personal money market deposits			1,818,126						12.7		%				28,796
Business money market deposits			1,013,119						7.1		%				3,180
Savings deposits			2,438,182						17.1		%				187,586
Time deposits			2,797,970						19.6		%				74,195
Total deposits			$	14,275,038					100.0		%				715,864

Our average deposit account balance as of September 30, 2026 was $19,941. The Company’s insured cash sweep deposit balance was $827 million as of September 30, 2026.

11

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Northwest Bancshares, Inc. and Subsidiaries

Regulatory Capital Requirements (Unaudited)

(dollars in thousands)

			At September 30, 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.			$	1,872,875					14.39		%				$	1,366,301					10.50		%				$	1,301,239					10.00		%
Northwest Bank			1,730,470						13.34		%				1,361,617						10.50		%				1,296,778						10.00		%
Tier 1 capital (to risk weighted assets)
Northwest Bancshares, Inc.			1,583,750						12.17		%				1,106,053						8.50		%				780,744						6.00		%
Northwest Bank			1,568,195						12.09		%				1,102,262						8.50		%				1,037,423						8.00		%
Common equity tier 1 capital (to risk weighted assets)
Northwest Bancshares, Inc.			1,583,750						12.17		%				910,868						7.00		%				N/A						N/A
Northwest Bank			1,568,195						12.09		%				907,745						7.00		%				842,906						6.50		%
Tier 1 capital (leverage) (to average assets)
Northwest Bancshares, Inc.			1,583,750						9.40		%				674,178						4.00		%				N/A						N/A
Northwest Bank			1,568,195						9.31		%				673,786						4.00		%				842,232						5.00		%

(1)     September 30, 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.

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Northwest Bancshares, Inc. and Subsidiaries

Marketable Securities (Unaudited)

(dollars in thousands)

						September 30, 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 ten years						$	39,019					—						(8,492)						30,527						5.71
Municipal securities:
Due in one year or less						3,578						—						(28)						3,550						0.65
Due after one year through five years						3,299						—						(101)						3,198						3.05
Due after five years through ten years						21,308						—						(2,707)						18,601						6.48
Due after ten years						47,057						87						(10,475)						36,669						9.73
Corporate debt issues:
Due after one year through five years						16,276						107						(367)						16,016						3.31
Due after five years through ten years						84,266						856						(1,909)						83,213						6.05
Due after ten years						12,000						19						—						12,019						4.33
Mortgage-backed agency securities:
Fixed rate pass-through						516,430						—						(39,526)						476,904						7.57
Variable rate pass-through						344						2						—						346						2.67
Fixed rate agency CMBS						625,167						—						(106,348)						518,819						3.65
Variable rate agency CMBS						6,248						—						(6)						6,242						2.22
Fixed rate agency CMOs						571,932						10						(54,214)						517,728						5.03
Variable rate agency CMOs						27,709						34						(7)						27,736						6.52
Total mortgage-backed agency securities						1,747,830						46						(200,101)						1,547,775						5.36
Total marketable securities available-for-sale						$	1,974,633					1,115						(224,180)						1,751,568						5.47
Marketable securities held-to-maturity
Government sponsored:
Due after one year through five years						$	107,991					—						(9,180)						98,811						2.25
Mortgage-backed agency securities:
Fixed rate pass-through						87,879						—						(12,431)						75,448						3.70
Variable rate pass-through						280						—						—						280						3.66
Fixed rate agency CMBS						70,093						—						(14,157)						55,936						3.40
Fixed rate agency CMOs						345,960						—						(58,577)						287,383						5.17
Variable rate agency CMOs						528						—						(3)						525						3.42
Total mortgage-backed agency securities						504,740						—						(85,168)						419,572						4.67
Total marketable securities held-to-maturity						$	612,731					—						(94,348)						518,383						4.24

13

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Northwest Bancshares, Inc. and Subsidiaries

Asset Quality (Unaudited)

(dollars in thousands)

			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Nonaccrual loans:
Residential mortgage loans			$	12,508					11,766						10,500						12,247						11,497
Home equity loans			6,245						5,370						4,780						3,755						6,979
Consumer loans			5,080						4,791						5,732						5,711						5,898
Commercial real estate loans			40,348						47,440						47,337						57,485						82,580
Commercial and industrial loans			34,506						21,984						22,594						28,085						21,371
Total nonaccrual loans			98,687						91,351						90,943						107,283						128,325
Loans 90 days past due and still accruing			484						573						543						646						701
Nonperforming loans			99,171						91,924						91,486						107,929						129,026
Real estate owned, net			2,772						63						65						76						174
Nonperforming assets			$	101,943					91,987						91,551						108,005						129,200
Nonperforming loans to total loans			0.74		%				0.69		%				0.70		%				0.83		%				1.00		%
Nonperforming assets to total assets			0.59		%				0.53		%				0.54		%				0.64		%				0.79		%
Allowance for credit losses to total loans			1.12		%				1.13		%				1.15		%				1.15		%				1.22		%
Allowance for credit losses to nonperforming loans			150.88		%				162.44		%				164.01		%				139.18		%				121.99		%

14

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Northwest Bancshares, Inc. and Subsidiaries

Loans by Credit Quality Indicators (Unaudited)

(dollars in thousands)

At September 30, 2026						Pass						Special mention *						Substandard **						Doubtful						Loss						Loans receivable
Personal Banking:
Residential mortgage loans						$	2,971,697					—						12,507						—						—						2,984,204
Home equity loans						1,490,313						—						6,246						—						—						1,496,559
Consumer loans						2,912,520						—						5,563						—						—						2,918,083
Total Personal Banking						7,374,530						—						24,316						—						—						7,398,846
Commercial Banking:
Commercial real estate loans						2,438,398						148,563						344,640						—						—						2,931,601
Commercial and industrial loans						2,915,066						47,771						98,674						1,338						—						3,062,849
Total Commercial Banking						5,353,464						196,334						443,314						1,338						—						5,994,450
Total loans						$	12,727,994					196,334						467,630						1,338						—						13,393,296
At June 30, 2026
Personal Banking:
Residential mortgage loans						$	2,990,142					—						11,766						—						—						3,001,908
Home equity loans						1,491,787						—						5,370						—						—						1,497,157
Consumer loans						2,837,791						—						5,267						—						—						2,843,058
Total Personal Banking						7,319,720						—						22,403						—						—						7,342,123
Commercial Banking:
Commercial real estate loans						2,443,890						152,441						391,906						—						—						2,988,237
Commercial and industrial loans						2,742,819						46,301						109,747						—						—						2,898,867
Total Commercial Banking						5,186,709						198,742						501,653						—						—						5,887,104
Total loans						$	12,506,429					198,742						524,056						—						—						13,229,227
At March 31, 2026
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

*    Includes $67.2 million, $79.1 million, $85.6 million, $38.2 million, and $41.0 million of acquired loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

**    Includes $177.5 million, $163.0 million, $100.4 million, $93.2 million, and $96.9 million of acquired loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

15

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Northwest Bancshares, Inc. and Subsidiaries

Loan Delinquency (Unaudited)

(dollars in thousands)

									September 30, 2026						*												June 30, 2026						*												March 31, 2026						*												December 31, 2025						*												September 30, 2025						*
Loans delinquent 30 days to 59 days:
Residential mortgage loans									$	1,233					—		%										$	1,140					—		%										$	44,502					1.5		%										$	41,180					1.3		%										$	1,639					0.1		%
Home equity loans									6,535						0.4		%										6,611						0.4		%										5,932						0.4		%										6,488						0.4		%										4,644						0.3		%
Consumer loans									13,411						0.5		%										11,812						0.4		%										10,429						0.4		%										14,063						0.5		%										12,257						0.5		%
Commercial real estate loans									6,457						0.2		%										4,370						0.1		%										17,541						0.6		%										28,645						0.9		%										14,600						0.4		%
Commercial and industrial loans									1,297						—		%										2,844						0.1		%										7,127						0.3		%										5,657						0.2		%										9,974						0.4		%
Total loans delinquent 30 days to 59 days									$	28,933					0.2		%										$	26,777					0.2		%										$	85,531					0.7		%										$	96,033					0.7		%										$	43,114					0.3		%
Loans delinquent 60 days to 89 days:
Residential mortgage loans									$	5,830					0.2		%										$	7,468					0.2		%										$	2,531					0.1		%										$	10,934					0.4		%										$	7,917					0.3		%
Home equity loans									1,603						0.1		%										2,116						0.1		%										2,946						0.2		%										2,316						0.2		%										2,671						0.2		%
Consumer loans									4,478						0.2		%										3,508						0.1		%										4,264						0.2		%										4,599						0.2		%										3,691						0.2		%
Commercial real estate loans									5,416						0.2		%										3,208						0.1		%										25,859						0.8		%										12,941						0.4		%										1,575						—		%
Commercial and industrial loans									22,661						0.7		%										5,837						0.2		%										8,432						0.3		%										2,899						0.1		%										1,915						0.1		%
Total loans delinquent 60 days to 89 days									$	39,988					0.3		%										$	22,137					0.2		%										$	44,032					0.3		%										$	33,689					0.3		%										$	17,769					0.1		%
Loans delinquent 90 days or more:
Residential mortgage loans									$	10,901					0.4		%										$	10,671					0.4		%										$	6,468					0.2		%										$	10,001					0.3		%										$	9,427					0.3		%
Home equity loans									5,014						0.3		%										4,343						0.3		%										3,263						0.2		%										2,492						0.2		%										2,963						0.2		%
Consumer loans									4,224						0.1		%										4,038						0.1		%										4,561						0.2		%										4,893						0.2		%										4,865						0.2		%
Commercial real estate loans									15,944						0.5		%										29,840						1.0		%										18,282						0.6		%										32,745						1.0		%										56,453						1.6		%
Commercial and industrial loans									11,945						0.4		%										15,659						0.5		%										11,266						0.4		%										16,269						0.6		%										9,490						0.4		%
Total loans delinquent 90 days or more									$	48,028					0.4		%										$	64,551					0.5		%										$	43,840					0.3		%										$	66,400					0.5		%										$	83,198					0.6		%
Total loans delinquent									$	116,949					0.9		%										$	113,465					0.9		%										$	173,403					1.3		%										$	196,122					1.5		%										$	144,081					1.1		%

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

16

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Northwest Bancshares, Inc. and Subsidiaries

Allowance for Credit Losses (Unaudited)

(dollars in thousands)

			Quarter ended
			September 30, 2026						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Beginning balance			$	149,321					150,045						150,212						157,396						129,159
Initial allowance on loans purchased with credit deterioration			—						—						—						—						6,029
Provision			5,220						4,280						4,954						5,743						31,394
Charge-offs residential mortgage			(617)						(465)						(1,001)						(228)						(137)
Charge-offs home equity			(199)						(383)						(291)						(558)						(336)
Charge-offs consumer			(3,543)						(4,121)						(4,531)						(4,139)						(3,994)
Charge-offs commercial real estate			(1,694)						(889)						(254)						(9,765)						(4,312)
Charge-offs commercial and industrial			(1,565)						(945)						(1,155)						(532)						(2,395)
Recoveries			2,703						1,799						2,111						2,295						1,988
Ending balance			$	149,626					149,321						150,045						150,212						157,396
Net charge-offs to average loans, annualized			0.15		%				0.15		%				0.16		%				0.40		%				0.29		%

			Nine months ended September 30,
			2026						2025
Beginning balance			$	150,212					116,819
Initial allowance on loans purchased with credit deterioration			—						6,029
Provision			14,454						51,106
Charge-offs residential mortgage			(2,083)						(998)
Charge-offs home equity			(873)						(1,022)
Charge-offs consumer			(12,195)						(11,130)
Charge-offs commercial real estate			(2,837)						(4,721)
Charge-offs commercial and industrial			(3,665)						(6,563)
Recoveries			6,613						7,876
Ending balance			$	149,626					157,396
Net charge-offs to average loans, annualized			0.15		%				0.19		%

17

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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
			September 30, 2026																		June 30, 2026																		March 31, 2026																		December 31, 2025																		September 30, 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			$	3,003,745					30,494						4.06		%				$	3,030,237					30,219						3.99		%				$	3,078,476					30,596						3.98		%				$	3,147,858					31,814						4.04		%				$	3,160,008					31,386						3.97		%
Home equity loans			1,490,806						22,127						5.89		%				1,494,049						21,798						5.85		%				1,501,203						21,512						5.81		%				1,512,049						22,802						5.98		%				1,421,717						21,080						5.88		%
Consumer loans			2,798,690						38,147						5.41		%				2,658,435						36,064						5.44		%				2,529,868						34,270						5.49		%				2,412,579						34,436						5.66		%				2,330,173						32,729						5.57		%
Commercial real estate loans			3,028,012						47,304						6.11		%				3,131,545						49,291						6.23		%				3,342,140						51,337						6.14		%				3,468,667						53,345						6.02		%				3,377,740						51,761						6.00		%
Commercial and industrial loans			2,981,025						49,361						6.48		%				2,779,969						45,753						6.51		%				2,632,150						43,497						6.61		%				2,441,346						42,447						6.80		%				2,278,859						41,519						7.13		%
Total loans receivable (a) (b) (d)			13,302,278						187,433						5.59		%				13,094,235						183,125						5.61		%				13,083,837						181,212						5.62		%				12,982,499						184,844						5.65		%				12,568,497						178,475						5.63		%
Mortgage-backed securities (c)			2,301,769						19,001						3.30		%				2,232,535						18,024						3.23		%				2,148,996						16,999						3.16		%				1,892,074						14,071						2.97		%				1,810,209						12,668						2.80		%
Investment securities (c) (d)			303,130						2,741						3.62		%				299,068						2,652						3.55		%				317,996						2,566						3.23		%				309,147						2,339						3.03		%				301,719						2,153						2.85		%
FHLB stock, at cost			44,956						1,061						9.36		%				34,416						738						8.60		%				36,220						768						8.59		%				32,876						701						8.46		%				30,434						652						8.51		%
Other interest-earning deposits			93,723						775						3.24		%				141,898						1,436						4.00		%				139,970						871						2.49		%				170,370						1,905						4.37		%				164,131						1,700						4.05		%
Total interest-earning assets			16,045,856						211,011						5.22		%				15,802,152						205,975						5.23		%				15,727,019						202,416						5.22		%				15,386,966						203,860						5.26		%				14,874,990						195,648						5.22		%
Noninterest-earning assets (e)			1,076,642																		1,061,487																		1,105,758																		1,107,042																		1,067,450
Total assets			$	17,122,498																	$	16,863,639																	$	16,832,777																	$	16,494,008																	$	15,942,440
Liabilities and shareholders’ equity:
Interest-bearing liabilities:
Savings deposits			$	2,447,880					6,918						1.12		%				$	2,447,522					6,531						1.07		%				$	2,395,887					6,072						1.03		%				$	2,362,215					6,324						1.06		%				$	2,343,137					6,679						1.13		%
Interest-bearing demand deposit			2,960,536						8,505						1.14		%				2,973,878						8,422						1.14		%				2,999,478						8,741						1.18		%				2,940,296						9,084						1.23		%				2,782,369						8,258						1.18		%
Money market deposit accounts			2,802,942						13,828						1.96		%				2,728,590						12,723						1.87		%				2,609,333						12,128						1.88		%				2,522,362						12,499						1.97		%				2,392,748						11,785						1.95		%
Time deposits			2,799,072						22,047						3.12		%				2,882,261						22,708						3.16		%				2,967,098						24,142						3.30		%				2,841,234						25,040						3.50		%				2,818,526						25,158						3.54		%
Total interest-bearing deposits (g)			11,010,430						51,298						1.85		%				11,032,251						50,384						1.83		%				10,971,796						51,083						1.89		%				10,666,107						52,947						1.97		%				10,336,780						51,880						1.99		%
Borrowed funds (f)			617,533						6,128						3.94		%				379,262						3,740						3.96		%				404,547						3,875						3.88		%				354,894						3,425						3.83		%				347,357						3,366						3.84		%
Subordinated debt			94,835						1,862						7.68		%				114,800						2,200						7.58		%				114,800						2,204						7.68		%				114,800						2,285						7.79		%				114,745						1,335						4.65		%
Junior subordinated debentures			130,245						1,933						5.81		%				130,181						1,878						5.70		%				130,121						1,906						5.86		%				130,051						2,002						6.02		%				129,986						2,123						6.39		%
Total interest-bearing liabilities			11,853,043						61,221						2.05		%				11,656,494						58,202						2.00		%				11,621,264						59,068						2.06		%				11,265,852						60,659						2.14		%				10,928,868						58,704						2.13		%
Noninterest-bearing demand deposits (g)			3,129,524																		3,101,574																		3,074,939																		3,105,108																		2,959,871
Noninterest-bearing liabilities			208,586																		187,436																		248,832																		252,960																		244,306
Total liabilities			15,191,153																		14,945,504																		14,945,035																		14,623,920																		14,133,045
Shareholders’ equity			1,931,345																		1,918,135																		1,887,742																		1,870,088																		1,809,395
Total liabilities and shareholders’ equity			$	17,122,498																	$	16,863,639																	$	16,832,777																	$	16,494,008																	$	15,942,440
Net interest income/Interest rate spread FTE									149,790						3.17		%										147,773						3.23		%										143,348						3.16		%										143,201						3.12		%										136,944						3.09		%
Net interest-earning assets/Net interest margin FTE			$	4,192,813											3.70		%				$	4,145,658											3.75		%				$	4,105,755											3.70		%				$	4,121,114											3.69		%				$	3,946,122											3.65		%
Tax equivalent adjustment (d)									840																		835																		866																		1,035																		970
Net interest income, GAAP basis									148,950																		146,938																		142,482																		142,166																		135,974
Ratio of interest-earning assets to interest-bearing liabilities			1.35X																		1.36X																		1.35X																		1.37X																		1.36X

(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.

(c)    Average balances do not include the effect of unrealized gains or losses on securities held as available-for-sale.

(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 1.44%, 1.43%, 1.48%, 1.53%, and 1.55%, respectively.

18

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Northwest Bancshares, Inc. and Subsidiaries

Average Balance Sheet (Unaudited)

(in thousands)

 

The following table sets forth certain information relating to the Company’s average balance sheet and reflects the average yield on interest-earning assets and average cost of interest-bearing 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.

			Nine months ended September 30,
			2026																		2025
			Average balance						Interest						Avg. yield/cost						Average balance						Interest						Avg. yield/cost
Assets
Interest-earning assets:
Residential mortgage loans			$	3,037,212					91,308						4.01		%				$	3,135,705					91,758						3.90		%
Home equity loans			1,495,315						65,437						5.85		%				1,236,733						53,509						5.78		%
Consumer loans			2,663,316						108,481						5.45		%				2,118,568						87,650						5.53		%
Commercial real estate loans			3,166,082						147,933						6.16		%				3,033,193						151,726						6.60		%
Commercial loans			2,798,992						138,610						6.53		%				2,145,555						114,818						7.06		%
Loans receivable (a) (b) (d)			13,160,917						551,769						5.61		%				11,669,754						499,461						5.72		%
Mortgage-backed securities (c)			2,228,326						54,024						3.23		%				1,791,479						36,552						2.72		%
Investment securities (c) (d)			306,677						7,960						3.46		%				277,338						5,420						2.61		%
FHLB stock, at cost			38,563						2,567						8.90		%				23,080						1,336						7.74		%
Other interest-earning deposits			125,197						3,082						3.25		%				209,320						6,789						4.28		%
Total interest-earning assets			15,859,680						619,402						5.22		%				13,970,971						549,558						5.26		%
Noninterest-earning assets (e)			1,081,020																		972,376
Total assets			$	16,940,700																	$	14,943,347
Liabilities and shareholders’ equity
Interest-bearing liabilities:
Savings deposits			$	2,430,620					19,521						1.07		%				$	2,250,418					19,653						1.17		%
Interest-bearing demand deposits			2,977,822						25,667						1.15		%				2,662,521						22,513						1.13		%
Money market deposit accounts			2,714,331						38,680						1.91		%				2,200,063						30,748						1.87		%
Time deposits			2,882,195						68,897						3.20		%				2,683,081						73,117						3.64		%
Total interest-bearing deposits (g)			11,004,968						152,765						1.86		%				9,796,083						146,031						1.99		%
Borrowed funds (f)			467,894						13,744						3.93		%				260,392						7,618						3.91		%
Subordinated debt			108,072						6,266						7.65		%				114,661						3,631						4.22		%
Junior subordinated debentures			130,183						5,716						5.79		%				129,922						6,327						6.42		%
Total interest-bearing liabilities			11,711,117						178,491						2.04		%				10,301,058						163,607						2.12		%
Noninterest-bearing demand deposits (g)			3,102,212																		2,721,350
Noninterest-bearing liabilities			214,804																		232,909
Total liabilities			15,028,133																		13,255,317
Shareholders’ equity			1,912,567																		1,688,030
Total liabilities and shareholders’ equity			$	16,940,700																	$	14,943,347
Net interest income/Interest rate spread									440,911						3.18		%										385,951						3.14		%
Net interest-earning assets/Net interest margin			$	4,148,563											3.72		%				$	3,669,913											3.69		%
Tax equivalent adjustment (d)									2,541																		2,715
Net interest income, GAAP basis									438,370																		383,236
Ratio of interest-earning assets to interest-bearing liabilities			1.35X																		1.36X

(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 were not material.

(c)Average balances do not include the effect of unrealized gains or losses on securities held as available-for-sale.

(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 deposits were 1.45% and 1.56%, respectively.

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