Northwest Bancshares, Inc. NWBI
Northwest Bancshares, Inc.
Northwest Bancshares, Inc., a Maryland corporation, was incorporated in 2009 to be the successor corporation to Northwest Bancorp, Inc., the former stock holding company for Northwest Bank, upon completion of the mutual-to-stock conversion of Northwest Bancorp, MHC. The terms "Northwest", "the Company", "we", "us" and "our" refer to Northwest Bancshares, Inc., unless indicated otherwise by the context.
The conversion was completed in 2009 when the Company sold 68,878,267 shares of common stock at $10.00 per share in the related offering. Concurrent with the completion of the offering, shares of Northwest Bancorp, Inc. common stock owned by public stockholders were exchanged for shares of Northwest Bancshares, Inc.'s common stock. We also issued 1,277,565 shares of common stock and contributed $1.0 million in cash from the offering proceeds to Northwest Charitable Foundation, a charitable foundation that we established for the benefit of the communities in which Northwest Bank operates. As of December 31, 2025, the Company had 146,107,964 shares outstanding and a market capitalization of approximately $1.753 billion.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $749.7M | $669.2M | $587.9M | $448.8M | $418.5M | $434.1M | $417.4M | $375.8M | $358.9M | $345.6M |
| SG&A | $13.6M | $12.4M | $13.0M | $13.3M | $13.8M | $15.7M | $14.1M | $14.1M | $16.3M | $14.9M |
| Interest expense | $525.4M | $435.6M | $435.7M | $420.7M | $27.2M | $42.3M | $56.9M | $37.1M | $28.1M | $38.3M |
| Pre-tax income | $162.8M | $129.5M | $175.1M | $173.7M | $201.1M | $92.5M | $141.1M | $133.9M | $135.9M | $71.3M |
| Income tax | $36.8M | $29.3M | $40.1M | $40.0M | $46.8M | $17.7M | $30.7M | $28.4M | $41.4M | $21.6M |
| Net income | $126.0M | $100.3M | $135.0M | $133.7M | $154.3M | $74.9M | $110.4M | — | — | — |
| EPS, basic | 0.93 | 0.79 | 1.06 | 1.05 | 1.22 | 0.62 | 1.05 | 1.03 | 0.94 | 0.50 |
| EPS, diluted | 0.92 | 0.79 | 1.06 | 1.05 | 1.21 | 0.62 | 1.04 | 1.02 | 0.92 | 0.49 |
| Shares, diluted (wtd. avg.) | — | — | $127.0M | $126.7M | $127.0M | $120.2M | $105.8M | $103.6M | $102.6M | $100.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $233.6M | $288.4M | $122.3M | $139.4M | $1.28B | $736.3M | $60.8M | $68.8M | $77.7M | $389.9M |
| Property, plant and equipment | $140.4M | $124.2M | $138.8M | $145.9M | $156.5M | $161.5M | $147.4M | $143.4M | $151.9M | $161.2M |
| Goodwill | $444.3M | $381.0M | $381.0M | $381.0M | $381.0M | $382.3M | $346.1M | $307.4M | $307.4M | $307.4M |
| Other intangibles | $39.7M | $2.8M | $5.3M | $8.6M | $12.8M | $19.9M | $23.1M | $19.8M | $25.7M | $32.4M |
| Total assets | $16.77B | $14.41B | $14.42B | $14.11B | $14.50B | $13.81B | $10.49B | $9.61B | $9.36B | $9.62B |
| Short-term debt | — | $200.3M | $398.9M | $681.2M | $139.1M | $159.7M | $246.3M | $234.4M | — | — |
| Total liabilities | $14.88B | $12.81B | $12.87B | $12.62B | $12.92B | $12.27B | $9.14B | $8.35B | $8.16B | $8.45B |
| Retained earnings | $689.2M | $673.1M | $674.7M | $641.7M | $609.5M | $555.5M | $583.4M | $550.4M | $508.1M | $478.8M |
| Total equity | $1.89B | $1.60B | $1.55B | $1.49B | $1.58B | $1.54B | $1.35B | $1.26B | $1.21B | $1.17B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $153.4M | $127.7M | $92.9M | $175.4M | $205.5M | $140.4M | $127.5M | $138.9M | $151.8M | $135.7M |
| Depreciation and amortisation | $12.0M | $11.0M | $12.0M | $12.0M | $12.1M | $11.9M | $11.7M | $12.1M | $12.4M | $13.7M |
| Stock-based compensation | $6.1M | $6.1M | $4.6M | $4.1M | $4.7M | $4.2M | $6.8M | $7.0M | $4.9M | $10.9M |
| Capital expenditure | $11.6M | $2.3M | $8.6M | $4.3M | $17.5M | $12.3M | $10.9M | $5.2M | $3.7M | $15.2M |
| Investing cash flow | -$127.4M | $175.0M | -$239.7M | -$917.4M | -$233.0M | -$560.6M | -$300.6M | -$281.9M | -$104.0M | $1.15B |
| Financing cash flow | -$80.8M | -$136.5M | $129.7M | -$397.9M | $570.5M | $1.10B | $165.2M | $134.1M | -$359.9M | -$1.06B |
| Dividends paid | $109.9M | $101.9M | $101.7M | $101.5M | $100.3M | $93.1M | $76.2M | $69.9M | $65.2M | $60.2M |
| Buybacks | — | — | $0 | $0 | $23.9M | $9.3M | $0 | $0 | $0 | $1.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-148973.
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