COLUMBUS, Ohio — Northwest Bancshares Inc., (the “Company”), (Nasdaq: NWBI) announced net income for the quarter ended March 31, 2025 of $43 million, or $0.34 per diluted share. This represents an increase of $14 million compared to the same quarter last year, when net income was $29 million, or $0.23 per diluted share, and an increase of $11 million compared to the prior quarter, when net income was $33 million, or $0.26 per diluted share.

The annualized returns on average shareholders’ equity and average assets for the quarter ended March 31, 2025 were 10.90% and 1.22% compared to 7.57% and 0.81% for the same quarter last year and 8.20% and 0.91% from the prior quarter.

Compared to adjusted net income (non-GAAP) of $35 million, or $0.27, per diluted share in the prior quarter, adjusted net income (non-GAAP) increased by $9 million to $44 million, or $0.35, per diluted share for the quarter ended March 31, 2025. This increase was driven by a $14 million increase in net interest income impacted by a large non-accrual interest income recovery. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended March 31, 2025 were 11.11% and 1.25% compared to 8.71% and 0.97% 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 May 20, 2025 to shareholders of record as of May 8, 2025. This is the 122th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of March 31, 2025, this represents an annualized dividend yield of approximately 6.7%.