Northwest Bancshares, Inc. reported net income of $33 million ($0.26 per diluted share) for Q4 2024, an increase of $4 million compared to the same period last year, but $1 million lower than the prior quarter. Adjusted net income for the quarter was $35 million ($0.27 per diluted share). Net interest margin improved to 3.42%, reflecting a 9-basis-point increase.

The company declared its 121st consecutive quarterly dividend of $0.20 per share, payable on February 14, 2025. Annualized returns on average equity and assets for the quarter were 8.20% and 0.91%, respectively.

Key highlights include a focus on expanding commercial lending, improving efficiency, and a strategic agreement to acquire Penns Woods Bancorp, Inc., expected to close in Q3 2025. This acquisition is anticipated to position Northwest among the top 100 largest banks in the U.S. by enhancing its market presence in Pennsylvania.

Noninterest income grew significantly due to gains from the sale of Visa B shares and tax credit investments. Noninterest expense rose by 5.1% compared to Q4 2023 due to increased incentive compensation and technology investments.

As of December 31, 2024, Northwest operated 130 full-service financial centers and 11 drive-up facilities across Pennsylvania, New York, Ohio, and Indiana. The company’s stock is traded on Nasdaq under the symbol NWBI.