Adjusted net income (non-GAAP) of $35 million, or $0.27 per diluted share
Net interest margin expands 9 basis points to 3.42%, inclusive of 6bps from an interest recovery
Efficiency ratio improved to 61.8%
121st consecutive quarterly dividend of $0.20 per share declared
COLUMBUS, Ohio, Jan. 24, 2025 /PRNewswire/ -- Northwest Bancshares, Inc., (the "Company"), (Nasdaq: NWBI) announced net income for the quarter ended December 31, 2024 of $33 million, or $0.26 per diluted share. This represents an increase of $4 million compared to the same quarter last year, when net income was $29 million, or $0.23 per diluted share, and a decrease of $1 million compared to the prior quarter, when net income was $34 million, or $0.26 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2024 were 8.20% and 0.91% compared to 7.64% and 0.80% for the same quarter last year and 8.50% and 0.93% from the prior quarter.
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