Form 8-K

8-K — Northwest Bancshares, Inc.

Accession: 0001471265-26-000030

Filed: 2026-07-27

Period: 2026-07-27

CIK: 0001471265

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nwbi-20260727.htm (Primary)

EX-99.1 (a2026-06x30nwbi8ker.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: nwbi-20260727.htm · Sequence: 1

nwbi-20260727

0001471265false00014712652026-07-272026-07-27

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 27, 2026

Northwest Bancshares, Inc.

(Exact name of registrant as specified in its charter)

Maryland 001-34582 27-0950358

(State or other jurisdiction of incorporation) (Commission File No.) (I.R.S. Employer Identification No.)

3 Easton Oval Suite 500 Columbus Ohio 43219

(Address of principal executive office) (Zip code)

(814) 726-2140

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol(s) Name of each exchange on which registered

Common Stock, 0.01 Par Value NWBI NASDAQ Stock Market, LLC

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Indicate by a check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange act. ☐

Item 2.02 Results of Operations and Financial Condition

On July 27, 2026, Northwest Bancshares, Inc. ("the Company") issued a press release announcing its financial results for the quarter ended June 30, 2026 (the "Press Release"). The Press Release is being furnished as Exhibit 99.1. The Company also made available its second quarter 2026 supplemental earnings presentation on the "Investor Relations" section of its website.

The information in the preceding paragraph, as well as Exhibit 99.1 referenced therein, is being furnished to the SEC and shall not be deemed “filed” for any purpose.

Item 9.01 Financial Statements and Exhibits

(a) Not applicable

(b) Not applicable

(d) Exhibits

Exhibit No. Description

99.1

Press release dated July 27, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

NORTHWEST BANCSHARES, INC.

Date: July 27, 2026 By:

/s/ Douglas M. Schosser

Douglas M. Schosser

Chief Financial Officer

EX-99.1

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Document

EXHIBIT 99.1

PRESS RELEASE OF NORTHWEST BANCSHARES, INC.

EARNINGS RELEASE

FOR IMMEDIATE RELEASE

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

$54 million, or $0.36 per diluted share

Adjusted diluted EPS (non-GAAP) of $0.37 per share

Net interest margin continues to expand to 3.75%

5.3% annualized loan growth from prior quarter

Credit quality remained strong with annualized net charge-offs of 0.15% and nonperforming assets of 0.69%

Columbus, Ohio — July 27, 2026 Northwest Bancshares, Inc., (the “Company”), (Nasdaq: NWBI) announced record net income for the quarter ended June 30, 2026 of $54 million, or $0.36 per diluted share. This represents an increase of $20 million compared to the same quarter last year, when net income was $34 million, or $0.26 per diluted share, and an increase of $3 million compared to the prior quarter, when net income was $51 million, or $0.34 per share. The annualized returns on average shareholders’ equity and average assets for the quarter ended June 30, 2026 were 11.20% and 1.27% compared to 8.26% and 0.93% for the same quarter last year and 10.86% and 1.22% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended June 30, 2026 was $54 million, or $0.37, per diluted share, which increased by $3 million from $51 million, or $0.35, per diluted share, in the prior quarter. This increase was primarily driven by an increase in net interest income of $4 million and an increase in noninterest income of $2 million which were partially offset by an increase in provision for credit losses expense of $2 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended June 30, 2026 were 11.26% and 1.28% compared to 10.95% and 1.23% 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 August 18, 2026 to shareholders of record as of August 6, 2026. This is the 127th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of June 30, 2026, this represents an annualized dividend yield of approximately 5.3%.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “I am pleased to report a strong second quarter performance, with Northwest delivering another quarter of record net income, more than 59% year-over-year growth, supported by a balanced and consistent performance across the whole bank. We drove 32% year-over-year average loan growth in our C&I business, with disciplined growth in our national specialty business verticals, and benefited from the strength of our retail deposit franchise, achieving our fourth consecutive quarter of lower deposit costs, one of the best-in-class among our peers.

We produced these results while continuing to invest in talent, technology, and new financial centers, and maintaining expense management discipline, driving another quarter of improved performance with our efficiency ratio at 57.6% and our adjusted efficiency ratio at 56.2% for the quarter.

Building on our strong first half performance, and our team already making an impact in the Columbus market, attracting new talent, customers, and deposits, we continue to focus on organic growth initiatives, further optimizing our financial performance, expanding our financial center network, and serving our core customers and communities.”

Balance Sheet Highlights

Dollars in thousands Change 2Q26 vs.

2Q26 1Q26 2Q25 1Q26 2Q25

Average loans receivable $ 13,094,235 13,083,837 11,248,954 0.1 % 16.4 %

Average investments 2,531,603 2,466,992 2,056,476 2.6 % 23.1 %

Average deposits 14,133,825 14,046,735 12,154,001 0.6 % 16.3 %

Average borrowed funds 379,262 404,547 208,342 (6.3) % 82.0 %

•Average loans receivable increased $1.8 billion from the quarter ended June 30, 2025, primarily driven by the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition. Compared to the quarter ended March 31, 2026, average loans receivable increased $10 million driven by growth in our commercial and industrial and consumer loan portfolios.

•Average investments grew $475 million from the quarter ended June 30, 2025 and $65 million from the quarter ended March 31, 2026. The growth in average investments was primarily due to the Penns Woods acquisition and a targeted increase in the overall securities portfolio.

•Average deposits grew $2.0 billion from the quarter ended June 30, 2025 primarily driven by an increase in interest-bearing account balances primarily due to the addition of the Penns Woods deposit accounts. Average deposits grew $87 million from the quarter ended March 31, 2026 primarily driven by increase in savings and money market account balances partly due to customers shifting funds to these products as their time deposits matured.

•Average borrowings increased $171 million compared to the quarter end June 30, 2025 due to the acquisition of long term borrowings from Penns Woods. Average borrowings decreased $25 million compared to the quarter ended March 31, 2026. The decrease in average borrowings is attributable to the reduction of short term borrowings needs primarily due to growth in average deposits exceeding average loan and securities growth.

Income Statement Highlights

Dollars in thousands Change 2Q26 vs.

2Q26 1Q26 2Q25 1Q26 2Q25

Interest income $ 205,140 201,550 171,570 1.8 % 19.6 %

Interest expense 58,202 59,068 52,126 (1.5) % 11.7 %

Net interest income $ 146,938 142,482 119,444 3.1 % 23.0 %

Net interest margin FTE 3.75 % 3.70 % 3.56 %

Compared to the quarter ended June 30, 2025, net interest income increased $27 million and net interest margin increased to 3.75% from 3.56% for the quarter ended June 30, 2025. This increase in net interest income resulted primarily from:

•A $34 million increase in interest income that was the result of higher average yields coupled with an increase in average earning assets. The increase in average earnings assets was driven by the Penns Woods acquisition during the third quarter 2025. The average yield on loans increased to 5.61% for the quarter ended June 30, 2026 from 5.55% for the quarter ended June 30, 2025. The increase in yield was driven by loan mix shift towards higher yielding commercial loans, partially offset by the impact of fourth quarter 2025 rate cuts.

•A $6 million increase in interest expense is the result of an increase in the average balance of interest-bearing liabilities partially offset by a decline in the cost of deposits. The cost of interest-bearing liabilities decreased to 2.00% for the quarter ended June 30, 2026 from 2.09% for the quarter ended June 30, 2025.

Compared to the quarter ended March 31, 2026, net interest income increased $4 million and net interest margin increased to 3.75% for the quarter ended June 30, 2026 from 3.70%. This increase in net interest income resulted from the following:

•A $4 million increase in interest income driven by growth in the average interest earning balances and an increase on investments yields compared to the prior quarter which was partially offset by a decrease in loan yields. The average yield on loans decreased 1 bps to 5.61% and average investment yields increased to 3.27% from 3.17% for the quarter ended March 31, 2026. The decrease in loan yields was driven by a decline in the accretion of loan fair value marks, based on timing of loan payoffs, coupled with a change in portfolio mix.

•A $1 million decrease in interest expense driven by lower interest expense on deposits. Average cost of interest-bearing deposits declined compared to the prior quarter to 1.83% from 1.89% for the quarter ended March 31, 2026 while average cost of borrowings increased to 3.96% from 3.88% for the quarter ended March 31, 2026.

Dollars in thousands Change 2Q26 vs.

2Q26 1Q26 2Q25 1Q26 2Q25

Provision for credit losses - loans $ 4,280 4,954 11,456 (13.6) % (62.6) %

Provision for credit losses - unfunded commitments 2,357 (585) (2,712) (502.9) % (186.9) %

Total provision for credit losses expense $ 6,637 4,369 8,744 51.9 % (24.1) %

The total provision for credit losses for the quarter ended June 30, 2026 was $7 million primarily driven by growth in our commercial lending portfolio, including unfunded commitments. Total provision for credit losses for the quarter ended March 31, 2026 was $4 million driven by growth in our commercial lending portfolio and increased uncertainty in the economic outlook.

The Company saw an increase in classified loans to $524 million, or 3.96% of total loans, at June 30, 2026 from $518 million, or 4.57% of total loans, at June 30, 2025 and $498 million, or 3.81% of total loans, at March 31, 2026. The increase from the prior quarter was driven by changes in our commercial real estate portfolio which increased $29 million. The increase from the prior year was primarily due to classified loans acquired in the Penns Woods acquisition.

Dollars in thousands Change 2Q26 vs.

2Q26 1Q26 2Q25 1Q26 2Q25

Noninterest income:

Gain on sale of investments $ 336 11 — 2954.5 % NA

Gain on sale of SBA loans 1,217 1,186 819 2.6 % 48.6 %

Service charges and fees 16,908 17,118 15,797 (1.2) % 7.0 %

Trust and other financial services income 9,449 8,618 7,948 9.6 % 18.9 %

Gain on real estate owned, net 20 70 258 (71.4) % (92.2) %

Income from bank-owned life insurance 2,013 2,042 1,421 (1.4) % 41.7 %

Mortgage banking income 738 329 1,075 124.3 % (31.3) %

Other operating income 3,548 3,208 3,620 10.6 % (2.0) %

Total noninterest income $ 34,229 32,582 30,938 5.1 % 10.6 %

Noninterest income increased $3 million from the quarter ended June 30, 2025 driven by an increase in service charges and fees driven by deposit related fees based on customer activity related to the Penns Woods acquisition and trust and other financial services income due to growth in our wealth management business. Noninterest income increased by $2 million from the quarter ended March 31, 2026, also due to an increase in trust and other financial services income due to growth in our wealth management business.

Dollars in thousands Change 2Q26 vs.

2Q26 1Q26 2Q25 1Q26 2Q25

Noninterest expense:

Personnel expense $ 63,476 58,330 55,213 8.8 % 15.0 %

Non-personnel expense 40,807 45,708 42,327 (10.7) % (3.6) %

Total noninterest expense $ 104,283 104,038 97,540 0.2 % 6.9 %

Noninterest expense increased from the quarter ended June 30, 2025 due to a $8 million increase in personnel expenses driven by an increase in core compensation and benefits expense due to the addition of Penns Woods employees. Additionally, non-personnel expense decreased by $2 million due to a $6 million decrease in merger, asset disposition and restructuring expense coupled with a $3 million decrease in federal deposit insurance (FDIC) premium expense. The decrease in FDIC premiums expense related to prior period assessment rate changes. These decreases were partially offset by an increase of $2 million in amortization of intangible expense related to the acquisition coupled with increases in operating and processing expenses due to the addition of the Penns Woods branches to our footprint.

Noninterest expense remained flat from the quarter ended March 31, 2026 due to an increase in personnel expense which was offset by a decrease in non-personnel expenses. Personnel expense increased $5 million driven by higher base salaries, reflecting annual merit increases and one additional business day, and higher incentive compensation expenses. Non-personnel expense decreased by $5 million due to an decrease of $3 million in FDIC insurance premiums in the quarter ended June 30, 2026 for the same reasons discussed above coupled with a $1 million decrease in premises and occupancy expenses based on seasonal operating expenses during the first quarter.

Dollars in thousands Change 2Q26 vs.

2Q26 1Q26 2Q25 1Q26 2Q25

Income before income taxes $ 70,247 66,657 44,098 5.4 % 59.3 %

Income tax expense 16,701 16,121 10,423 3.6 % 60.2 %

Net income $ 53,546 50,536 33,675 6.0 % 59.0 %

The provision for income taxes increased by $6 million from the quarter ended June 30, 2025 and $1 million for the quarter ended March 31, 2026 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended June 30, 2025 and the quarter ended March 31, 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 June 30, 2026, Northwest operated 151 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

# # #

This release may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words “believe,” “anticipate,” “estimate,” “expect,” “project,” “target,” “goal” and similar expressions are 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 of our goals, intentions and expectations; statements regarding our financial condition and results of operations, including statements related to our earnings outlook; statements regarding our business plans, prospects, growth and operating strategies; statements regarding 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 and assumptions, including but not limited to the following: the possibility that any of the anticipated benefits of the merger with Penns Woods will not be realized or will not be realized within the expected time period; the effect of the merger on the combined company’s customer and employee relationships and operating results; and other factors that may affect the results of operations and financial condition of the combined company; 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; 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; 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, 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 this presentation and in the Northwest Bancshares, Inc. (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2025 under the section entitled "Item 1A - Risk Factors," and from time to time in other filings made by the Company with the SEC. These forward-looking statements speak only at the date of the presentation. The Company expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Company’s expectations with regard to any change in events, conditions or circumstances on which any such statement is based.

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.

Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Financial Condition (Unaudited)

(dollars in thousands, except per share amounts)

June 30,

2026 December 31,

2025 June 30,

2025

Assets

Cash and cash equivalents $ 248,499 233,647 267,075

Marketable securities available-for-sale (amortized cost of $1,972,165, $1,710,978 and $1,341,651, respectively)

1,829,179 1,586,382 1,194,883

Marketable securities held-to-maturity (fair value of $550,416, $605,929 and $628,936, respectively)

630,802 683,369 719,561

Total cash and cash equivalents and marketable securities 2,708,480 2,503,398 2,181,519

Loans held-for-sale 15,391 22,437 13,104

Residential mortgage loans 3,001,908 3,100,780 3,052,126

Home equity loans 1,497,157 1,507,532 1,157,520

Consumer loans 2,843,058 2,563,890 2,211,275

Commercial real estate loans 2,988,237 3,296,902 2,782,404

Commercial and industrial loans 2,898,867 2,538,212 2,138,499

Total loans receivable 13,229,227 13,007,316 11,341,824

Allowance for credit losses (149,321) (150,212) (129,159)

Loans receivable, net 13,079,906 12,857,104 11,212,665

FHLB stock, at cost 43,345 36,628 17,809

Accrued interest receivable 57,473 56,291 46,987

Real estate owned, net 63 76 48

Premises and equipment, net 144,423 140,381 123,402

Bank-owned life insurance 293,354 294,386 255,708

Goodwill 444,997 444,330 380,997

Other intangible assets, net 35,312 39,667 1,897

Other assets 384,395 371,919 250,971

Total assets $ 17,207,139 16,766,617 14,485,107

Liabilities and shareholders’ equity

Liabilities

Noninterest-bearing demand deposits $ 3,191,560 3,123,229 2,643,099

Interest-bearing demand deposits 2,916,518 2,995,759 2,622,695

Money market deposit accounts 2,766,675 2,540,818 2,153,078

Savings deposits 2,459,255 2,366,513 2,211,509

Time deposits 2,827,810 2,916,698 2,570,648

Total deposits 14,161,818 13,943,017 12,201,029

Borrowed funds 612,075 446,283 198,008

Subordinated debt 114,800 114,800 114,713

Junior subordinated debentures 130,223 130,093 129,964

Advances by borrowers for taxes and insurance 47,400 37,309 47,865

Accrued interest payable 8,385 6,846 7,729

Other liabilities 205,031 197,845 143,731

Total liabilities 15,279,732 14,876,193 12,843,039

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, 146,396,520, 146,107,964 and 127,842,403 shares issued and outstanding, respectively

1,464 1,461 1,278

Additional paid-in capital 1,274,117 1,270,444 1,037,615

Retained earnings 734,423 689,210 699,049

Accumulated other comprehensive loss (82,597) (70,691) (95,874)

Total shareholders’ equity 1,927,407 1,890,424 1,642,068

Total liabilities and shareholders’ equity $ 17,207,139 16,766,617 14,485,107

Equity to assets 11.20 % 11.27 % 11.34 %

Tangible common equity to tangible assets* 8.65 % 8.64 % 8.93 %

Book value per share $ 13.17 12.94 12.84

Tangible book value per share* $ 9.88 9.63 9.85

Closing market price per share $ 15.16 12.00 12.78

Full time equivalent employees 2,183 2,169 1,998

Number of banking offices 162 161 141

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

Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Income (Unaudited)

(dollars in thousands, except per share amounts)

Quarter ended

June 30, 2026 March 31,

2026 December 31, 2025 September 30, 2025 June 30, 2025

Interest income:

Loans receivable $ 182,469 180,549 184,047 177,723 154,914

Mortgage-backed securities 18,024 16,999 14,071 12,668 12,154

Taxable investment securities 1,799 1,601 1,324 1,183 999

Tax-free investment securities 674 762 777 752 512

FHLB stock dividends 738 768 701 652 318

Interest-earning deposits 1,436 871 1,905 1,700 2,673

Total interest income 205,140 201,550 202,825 194,678 171,570

Interest expense:

Deposits 50,384 51,083 52,947 51,880 46,826

Borrowed funds 7,818 7,985 7,712 6,824 5,300

Total interest expense 58,202 59,068 60,659 58,704 52,126

Net interest income 146,938 142,482 142,166 135,974 119,444

Provision for credit losses - loans 4,280 4,954 5,743 31,394 11,456

Provision for credit losses - unfunded commitments 2,357 (585) 1,981 (189) (2,712)

Net interest income after provision for credit losses 140,301 138,113 134,442 104,769 110,700

Noninterest income:

Gain on sale of investments 336 11 142 36 —

Gain on sale of SBA loans 1,217 1,186 437 341 819

Service charges and fees 16,908 17,118 17,377 16,911 15,797

Trust and other financial services income 9,449 8,618 8,416 8,040 7,948

Gain on real estate owned, net 20 70 148 132 258

Income from bank-owned life insurance 2,013 2,042 8,269 1,751 1,421

Mortgage banking income 738 329 379 1,003 1,075

Other operating income 3,548 3,208 2,609 3,984 3,620

Total noninterest income 34,229 32,582 37,777 32,198 30,938

Noninterest expense:

Compensation and employee benefits 63,476 58,330 65,143 63,014 55,213

Premises and occupancy costs 8,494 9,863 8,170 7,707 7,122

Office operations 3,660 3,875 4,217 3,495 2,910

Collections expense 665 878 856 776 838

Processing expenses 16,948 16,806 16,454 15,072 12,973

Marketing expenses 2,362 1,668 1,827 1,932 3,018

Federal deposit insurance premiums (291) 2,895 3,538 3,361 2,296

Professional services 3,490 3,523 3,366 3,010 3,990

Amortization of intangible assets 2,166 2,189 2,257 1,974 436

Merger, asset disposition and restructuring expense 426 631 4,160 31,260 6,244

Other expenses 2,887 3,380 3,533 1,897 2,500

Total noninterest expense 104,283 104,038 113,521 133,498 97,540

Income before income taxes 70,247 66,657 58,698 3,469 44,098

Income tax expense 16,701 16,121 12,985 302 10,423

Net income $ 53,546 50,536 45,713 3,167 33,675

Basic earnings per share $ 0.37 0.35 0.31 0.02 0.26

Diluted earnings per share $ 0.36 0.34 0.31 0.02 0.26

Weighted average common shares outstanding - diluted 147,127,223 146,850,635 146,703,966 141,175,516 128,114,509

Annualized return on average equity 11.20 % 10.86 % 9.70 % 0.69 % 8.26 %

Annualized return on average assets 1.27 % 1.22 % 1.10 % 0.08 % 0.93 %

Annualized return on average tangible common equity* 14.94 % 14.59 % 13.10 % 0.90 % 10.78 %

Efficiency ratio 57.56 % 59.43 % 63.09 % 79.38 % 64.86 %

Efficiency ratio, excluding certain items** 56.24 % 57.82 % 59.57 % 59.63 % 60.42 %

* 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.

Northwest Bancshares, Inc. and Subsidiaries

Consolidated Statements of Income (Unaudited)

(dollars in thousands, except per share amounts)

Six months ended June 30,

2026 2025

Interest income:

Loans receivable $ 363,018 319,552

Mortgage-backed securities 35,023 23,884

Taxable investment securities 3,400 1,932

Tax-free investment securities 1,436 1,024

FHLB stock dividends 1,506 684

Interest-earning deposits 2,307 5,089

Total interest income 406,690 352,165

Interest expense:

Deposits 101,467 94,151

Borrowed funds 15,803 10,752

Total interest expense 117,270 104,903

Net interest income 289,420 247,262

Provision for credit losses - loans 9,234 19,712

Provision for credit losses - unfunded commitments 1,772 (3,057)

Net interest income after provision for credit losses 278,414 230,607

Noninterest income:

Gain on sale of investments 347 —

Gain on sale of SBA loans 2,403 2,057

Service charges and fees 34,026 30,784

Trust and other financial services income 18,067 15,858

Gain on real estate owned, net 90 342

Income from bank-owned life insurance 4,055 2,752

Mortgage banking income 1,067 1,771

Other operating income 6,756 5,729

Total noninterest income 66,811 59,293

Noninterest expense:

Compensation and employee benefits 121,806 109,753

Premises and occupancy costs 18,357 15,522

Office operations 7,535 5,887

Collections expense 1,543 1,166

Processing expenses 33,754 26,963

Marketing expenses 4,030 4,898

Federal deposit insurance premiums 2,604 4,624

Professional services 7,013 6,746

Amortization of intangible assets 4,355 940

Merger, asset disposition and restructuring expense 1,057 7,367

Other expenses 6,267 5,411

Total noninterest expense 208,321 189,277

Income before income taxes 136,904 100,623

Income tax expense 32,822 23,490

Net income $ 104,082 77,133

Basic earnings per share $ 0.71 0.60

Diluted earnings per share $ 0.71 0.60

Weighted average common shares outstanding - diluted 146,990,065 128,347,141

Annualized return on average equity 11.03 % 9.56 %

Annualized return on average assets 1.25 % 1.08 %

Annualized return on tangible common equity* 14.77 % 12.51 %

Efficiency ratio 58.48 % 61.74 %

Efficiency ratio, excluding certain items** 57.02 % 59.03 %

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

Northwest Bancshares, Inc. and Subsidiaries

Reconciliation of Non-GAAP Financial Measures (Unaudited) *

(dollars in thousands, except per share amounts)

Quarter ended Six months ended June 30,

June 30, 2026 March 31,

2026 June 30, 2025 2026 2025

Reconciliation of net income to adjusted net income:

Net income (GAAP) $ 53,546 50,536 33,675 104,082 77,133

Non-GAAP adjustments

Add: merger, asset disposition and restructuring expense 426 631 6,244 1,057 7,367

Less: tax benefit of non-GAAP adjustments (119) (177) (1,748) (296) (2,063)

Adjusted net income (non-GAAP) $ 53,853 50,990 38,171 104,843 82,437

Diluted earnings per share (GAAP) $ 0.36 0.34 0.26 0.71 0.60

Diluted adjusted earnings per share (non-GAAP) $ 0.37 0.35 0.30 0.71 0.64

Average equity $ 1,918,135 1,887,742 1,635,966 1,903,023 1,626,342

Average assets 16,863,639 16,832,777 14,468,197 16,848,293 14,435,522

Annualized return on average equity (GAAP) 11.20 % 10.86 % 8.26 % 11.03 % 9.56 %

Annualized return on average assets (GAAP) 1.27 % 1.22 % 0.93 % 1.25 % 1.08 %

Annualized return on average equity, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP) 11.26 % 10.95 % 9.36 % 11.11 % 10.22 %

Annualized return on average assets, excluding merger, asset disposition and restructuring expense, net of tax (non-GAAP) 1.28 % 1.23 % 1.06 % 1.25 % 1.15 %

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.

June 30,

2026 December 31,

2025 June 30,

2025

Tangible common equity to assets

Total shareholders’ equity $ 1,927,407 1,890,424 1,642,068

Less: goodwill and intangible assets (480,309) (483,997) (382,894)

Tangible common equity $ 1,447,098 1,406,427 1,259,174

Total assets $ 17,207,139 16,766,617 14,485,107

Less: goodwill and intangible assets (480,309) (483,997) (382,894)

Tangible assets $ 16,726,830 16,282,620 14,102,213

Tangible common equity to tangible assets 8.65 % 8.64 % 8.93 %

Tangible book value per share

Tangible common equity $ 1,447,098 1,406,427 1,259,174

Common shares outstanding 146,396,520 146,107,964 127,842,403

Tangible book value per share 9.88 9.63 9.85

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 Six months ended June 30,

June 30,

2026 March 31,

2026 December 31,

2025 September 30, 2025 June 30,

2025 2026 2025

Annualized return on average tangible common equity

Net income $ 53,546 50,536 45,713 3,167 33,675 104,082 77,133

Average shareholders’ equity 1,918,135 1,887,742 1,870,088 1,809,395 1,635,966 1,903,023 1,626,342

Less: average goodwill and intangible assets (481,022) (483,240) (485,252) (409,875) (383,152) (482,125) (383,399)

Average tangible common equity $ 1,437,113 1,404,502 1,384,836 1,399,520 1,252,814 1,420,898 1,242,943

Annualized return on average tangible common equity 14.94 % 14.59 % 13.10 % 0.90 % 10.78 % 14.77 % 12.51 %

Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses

Noninterest expense $ 104,283 104,038 113,521 133,498 97,540 208,321 189,277

Less: amortization expense (2,166) (2,189) (2,257) (1,974) (436) (4,355) (940)

Less: merger, asset disposition and restructuring expenses (426) (631) (4,160) (31,260) (6,244) (1,057) (7,367)

Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses $ 101,691 101,218 107,104 100,264 90,860 202,909 180,970

Net interest income $ 146,938 142,482 142,166 135,974 119,444 289,420 247,262

Noninterest income 34,229 32,582 37,777 32,198 30,938 66,811 59,293

Less: gain on the sale of investments (336) (11) (142) (36) — (347) —

Net interest income plus noninterest income, excluding gain on sale of investments $ 180,831 175,053 179,801 168,136 150,382 355,884 306,555

Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses 56.24 % 57.82 % 59.57 % 59.63 % 60.42 % 57.02 % 59.03 %

* 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.

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 June 30, 2026

Balance Percent of

total deposits Number of

relationships

Uninsured deposits per the Call Report (1) $ 3,945,748 27.9 % 6,287

Less intercompany deposit accounts 1,427,595 10.1 % 12

Less collateralized deposit accounts 445,460 3.2 % 253

Uninsured deposits excluding intercompany and collateralized accounts $ 2,072,693 14.6 % 6,022

(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 $185 million, or 1.3% of total deposits, as of June 30, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $404 million, or 2.9% of total deposits, as of June 30, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $344,187 as of June 30, 2026.

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

As of June 30, 2026

Balance Percent of

total deposits Number of

accounts

Personal noninterest bearing demand deposits $ 1,750,490 12.3 % 310,031

Business noninterest bearing demand deposits 1,441,070 10.2 % 47,768

Personal interest-bearing demand deposits 1,372,409 9.7 % 54,166

Business interest-bearing demand deposits 1,544,109 10.9 % 8,805

Personal money market deposits 1,788,118 12.6 % 28,151

Business money market deposits 978,557 6.9 % 3,179

Savings deposits 2,459,255 17.4 % 187,619

Time deposits 2,827,810 20.0 % 76,448

Total deposits $ 14,161,818 100.0 % 716,167

Our average deposit account balance as of June 30, 2026 was $19,774. The Company’s insured cash sweep deposit balance was $743 million as of June 30, 2026.

Northwest Bancshares, Inc. and Subsidiaries

Regulatory Capital Requirements (Unaudited)

(dollars in thousands)

At June 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. $ 1,934,993 15.17 % $ 1,339,188 10.50 % $ 1,275,417 10.00 %

Northwest Bank 1,789,556 14.04 % 1,337,925 10.50 % 1,274,214 10.00 %

Tier 1 capital (to risk weighted assets)

Northwest Bancshares, Inc. 1,557,333 12.21 % 1,084,105 8.50 % 765,250 6.00 %

Northwest Bank 1,630,118 12.79 % 1,083,082 8.50 % 1,019,371 8.00 %

Common equity tier 1 capital (to risk weighted assets)

Northwest Bancshares, Inc. 1,557,333 12.21 % 892,792 7.00 % N/A N/A

Northwest Bank 1,630,118 12.79 % 891,950 7.00 % 828,239 6.50 %

Tier 1 capital (leverage) (to average assets)

Northwest Bancshares, Inc. 1,557,333 9.37 % 664,478 4.00 % N/A N/A

Northwest Bank 1,630,118 9.83 % 663,100 4.00 % 828,874 5.00 %

(1) June 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.

Northwest Bancshares, Inc. and Subsidiaries

Marketable Securities (Unaudited)

(dollars in thousands)

June 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 $ 39,877 — (7,237) 32,640 5.75

Municipal securities:

Due in one year or less 1,250 1 — 1,251 0.47

Due after one year through five years 5,605 13 (22) 5,596 2.18

Due after five years through ten years 20,303 160 (1,333) 19,130 6.51

Due after ten years 48,105 182 (6,234) 42,053 9.14

Corporate debt issues:

Due after one year through five years 16,405 15 (107) 16,313 2.92

Due after five years through ten years 76,798 1,557 (635) 77,720 5.59

Due after ten years 5,000 25 — 5,025 4.36

Mortgage-backed agency securities:

Fixed rate pass-through 527,666 1,750 (14,661) 514,755 7.24

Variable rate pass-through 364 5 — 369 3.00

Fixed rate agency CMBS 634,265 198 (79,321) 555,142 3.67

Variable rate agency CMBS 6,283 — (5) 6,278 1.74

Fixed rate agency CMOs 562,128 478 (37,872) 524,734 4.50

Variable rate agency CMOs 28,116 62 (5) 28,173 4.77

Total mortgage-backed agency securities 1,758,822 2,493 (131,864) 1,629,451 5.07

Total marketable securities available-for-sale $ 1,972,165 4,446 (147,432) 1,829,179 5.18

Marketable securities held-to-maturity

Government sponsored

Due after one year through five years $ 107,990 — (8,338) 99,652 2.49

Mortgage-backed agency securities:

Fixed rate pass-through 91,615 — (10,366) 81,249 3.92

Variable rate pass-through 294 1 — 295 4.94

Fixed rate agency CMBS 72,220 — (12,750) 59,470 3.52

Fixed rate agency CMOs 358,155 — (48,933) 309,222 5.38

Variable rate agency CMOs 528 — — 528 3.58

Total mortgage-backed agency securities 522,812 1 (72,049) 450,764 4.87

Total marketable securities held-to-maturity $ 630,802 1 (80,387) 550,416 4.46

Northwest Bancshares, Inc. and Subsidiaries

Asset Quality (Unaudited)

(dollars in thousands)

June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Nonaccrual loans:

Residential mortgage loans $ 11,766 10,500 12,247 11,497 8,482

Home equity loans 5,370 4,780 3,755 6,979 3,507

Consumer loans 4,791 5,732 5,711 5,898 4,418

Commercial real estate loans 47,440 47,337 57,485 82,580 62,091

Commercial and industrial loans 21,984 22,594 28,085 21,371 23,896

Total nonaccrual loans 91,351 90,943 107,283 128,325 102,394

Loans 90 days past due and still accruing 573 543 646 701 493

Nonperforming loans 91,924 91,486 107,929 129,026 102,887

Real estate owned, net 63 65 76 174 48

Nonperforming assets $ 91,987 91,551 108,005 129,200 102,935

Nonperforming loans to total loans 0.69 % 0.70 % 0.83 % 1.00 % 0.91 %

Nonperforming assets to total assets 0.53 % 0.54 % 0.64 % 0.79 % 0.71 %

Allowance for credit losses to total loans 1.13 % 1.15 % 1.15 % 1.22 % 1.14 %

Allowance for credit losses to nonperforming loans 162.44 % 164.01 % 139.18 % 121.99 % 125.53 %

Northwest Bancshares, Inc. and Subsidiaries

Loans by Credit Quality Indicators (Unaudited)

(dollars in thousands)

At June 30, 2026 Pass Special mention * Substandard ** Doubtful Loss Loans

receivable

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

At June 30, 2025

Personal Banking:

Residential mortgage loans $ 3,039,809 — 12,317 — — 3,052,126

Home equity loans 1,153,808 — 3,712 — — 1,157,520

Consumer loans 2,206,363 — 4,912 — — 2,211,275

Total Personal Banking 6,399,980 — 20,941 — — 6,420,921

Commercial Banking:

Commercial real estate loans 2,266,057 112,852 403,495 — — 2,782,404

Commercial and industrial loans 1,956,751 87,951 93,797 — — 2,138,499

Total Commercial Banking 4,222,808 200,803 497,292 — — 4,920,903

Total loans $ 10,622,788 200,803 518,233 — — 11,341,824

* Includes $79.1 million, $85.6 million, $38.2 million, $41.0 million, and $4.0 million of acquired loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.

** Includes $163.0 million, $100.4 million, $93.2 million, $96.9 million, and $19.2 million of acquired loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.

Northwest Bancshares, Inc. and Subsidiaries

Loan Delinquency (Unaudited)

(dollars in thousands)

June 30, 2026 * March 31, 2026 * December 31, 2025 * September 30, 2025 * June 30, 2025 *

Loans delinquent 30 days to 59 days:

Residential mortgage loans $ 1,140 — % $ 44,502 1.5 % $ 41,180 1.3 % $ 1,639 0.1 % $ 561 — %

Home equity loans 6,611 0.4 % 5,932 0.4 % 6,488 0.4 % 4,644 0.3 % 4,664 0.4 %

Consumer loans 11,812 0.4 % 10,429 0.4 % 14,063 0.5 % 12,257 0.5 % 9,174 0.4 %

Commercial real estate loans 4,370 0.1 % 17,541 0.6 % 28,645 0.9 % 14,600 0.4 % 4,585 0.2 %

Commercial and industrial loans 2,844 0.1 % 7,127 0.3 % 5,657 0.2 % 9,974 0.4 % 5,569 0.3 %

Total loans delinquent 30 days to 59 days $ 26,777 0.2 % $ 85,531 0.7 % $ 96,033 0.7 % $ 43,114 0.3 % $ 24,553 0.2 %

Loans delinquent 60 days to 89 days:

Residential mortgage loans $ 7,468 0.2 % $ 2,531 0.1 % $ 10,934 0.4 % $ 7,917 0.3 % $ 8,958 0.3 %

Home equity loans 2,116 0.1 % 2,946 0.2 % 2,316 0.2 % 2,671 0.2 % 985 0.1 %

Consumer loans 3,508 0.1 % 4,264 0.2 % 4,599 0.2 % 3,691 0.2 % 3,233 0.1 %

Commercial real estate loans 3,208 0.1 % 25,859 0.8 % 12,941 0.4 % 1,575 — % 13,240 0.5 %

Commercial and industrial loans 5,837 0.2 % 8,432 0.3 % 2,899 0.1 % 1,915 0.1 % 2,031 0.1 %

Total loans delinquent 60 days to 89 days $ 22,137 0.2 % $ 44,032 0.3 % $ 33,689 0.3 % $ 17,769 0.1 % $ 28,447 0.3 %

Loans delinquent 90 days or more:

Residential mortgage loans $ 10,671 0.4 % $ 6,468 0.2 % $ 10,001 0.3 % $ 9,427 0.3 % $ 6,905 0.2 %

Home equity loans 4,343 0.3 % 3,263 0.2 % 2,492 0.2 % 2,963 0.2 % 1,879 0.2 %

Consumer loans 4,038 0.1 % 4,561 0.2 % 4,893 0.2 % 4,865 0.2 % 3,486 0.2 %

Commercial real estate loans 29,840 1.0 % 18,282 0.6 % 32,745 1.0 % 56,453 1.6 % 41,875 1.5 %

Commercial and industrial loans 15,659 0.5 % 11,266 0.4 % 16,269 0.6 % 9,490 0.4 % 10,433 0.5 %

Total loans delinquent 90 days or more $ 64,551 0.5 % $ 43,840 0.3 % $ 66,400 0.5 % $ 83,198 0.6 % $ 64,578 0.6 %

Total loans delinquent $ 113,465 0.9 % $ 173,403 1.3 % $ 196,122 1.5 % $ 144,081 1.1 % $ 117,578 1.0 %

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

Northwest Bancshares, Inc. and Subsidiaries

Allowance for Credit Losses (Unaudited)

(dollars in thousands)

Quarter ended

June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025

Beginning balance $ 150,045 150,212 157,396 129,159 122,809

Initial allowance on loans purchased with credit deterioration — — — 6,029 —

Provision 4,280 4,954 5,743 31,394 11,456

Charge-offs residential mortgage (465) (1,001) (228) (137) (273)

Charge-offs home equity (383) (291) (558) (336) (413)

Charge-offs consumer (4,121) (4,531) (4,139) (3,994) (3,331)

Charge-offs commercial real estate (889) (254) (9,765) (4,312) (293)

Charge-offs commercial and industrial (945) (1,155) (532) (2,395) (3,597)

Recoveries 1,799 2,111 2,295 1,988 2,801

Ending balance $ 149,321 150,045 150,212 157,396 129,159

Net charge-offs to average loans, annualized 0.15 % 0.16 % 0.40 % 0.29 % 0.18 %

Six months ended June 30,

2026 2025

Beginning balance $ 150,212 116,819

Provision 9,234 19,712

Charge-offs residential mortgage (1,466) (861)

Charge-offs home equity (674) (686)

Charge-offs consumer (8,652) (7,136)

Charge-offs commercial real estate (1,143) (409)

Charge-offs commercial and industrial (2,100) (4,168)

Recoveries 3,910 5,888

Ending balance $ 149,321 129,159

Net charge-offs to average loans, annualized 0.16 % 0.13 %

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

June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 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 $ 3,030,237 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 % $ 3,091,324 29,978 3.88 %

Home equity loans 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 % 1,145,655 16,265 5.69 %

Consumer loans 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 % 2,073,103 28,648 5.54 %

Commercial real estate loans 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 % 2,836,757 43,457 6.06 %

Commercial and industrial loans 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 % 2,102,115 37,287 7.02 %

Total loans receivable (a) (b) (d) 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 % 11,248,954 155,635 5.55 %

Mortgage-backed securities (c) 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 % 1,790,423 12,154 2.72 %

Investment securities (c) (d) 299,068 2,652 3.55 % 317,996 2,566 3.23 % 309,147 2,339 3.03 % 301,719 2,153 2.85 % 266,053 1,668 2.51 %

FHLB stock, at cost 34,416 738 8.60 % 36,220 768 8.59 % 32,876 701 8.46 % 30,434 652 8.51 % 17,838 318 7.15 %

Other interest-earning deposits 141,898 1,436 4.00 % 139,970 871 2.49 % 170,370 1,905 4.37 % 164,131 1,700 4.05 % 220,416 2,673 4.85 %

Total interest-earning assets 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 % 13,543,684 172,448 5.11 %

Noninterest-earning assets (e) 1,061,487 1,105,758 1,107,042 1,067,450 924,513

Total assets $ 16,863,639 $ 16,832,777 $ 16,494,008 $ 15,942,440 $ 14,468,197

Liabilities and shareholders’ equity:

Interest-bearing liabilities:

Savings deposits $ 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 % $ 2,212,175 6,521 1.18 %

Interest-bearing demand deposit 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 % 2,609,887 7,192 1.11 %

Money market deposit accounts 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 % 2,121,088 9,658 1.83 %

Time deposits 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 % 2,599,254 23,455 3.62 %

Total interest bearing deposits (g) 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 % 9,542,404 46,826 1.97 %

Borrowed funds (f) 379,262 3,740 3.96 % 404,547 3,875 3.88 % 354,894 3,425 3.83 % 347,357 3,366 3.84 % 208,342 2,046 3.94 %

Subordinated debt 114,800 2,200 7.58 % 114,800 2,204 7.68 % 114,800 2,285 7.79 % 114,745 1,335 4.65 % 114,661 1,148 4.00 %

Junior subordinated debentures 130,181 1,878 5.70 % 130,121 1,906 5.86 % 130,051 2,002 6.02 % 129,986 2,123 6.39 % 129,921 2,106 6.41 %

Total interest-bearing liabilities 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 % 9,995,328 52,126 2.09 %

Noninterest-bearing demand deposits (g) 3,101,574 3,074,939 3,105,108 2,959,871 2,611,597

Noninterest-bearing liabilities 187,436 248,832 252,960 244,306 225,306

Total liabilities 14,945,504 14,945,035 14,623,920 14,133,045 12,832,231

Shareholders’ equity 1,918,135 1,887,742 1,870,088 1,809,395 1,635,966

Total liabilities and shareholders’ equity $ 16,863,639 $ 16,832,777 $ 16,494,008 $ 15,942,440 $ 14,468,197

Net interest income/Interest rate spread FTE 147,773 3.23 % 143,348 3.16 % 143,201 3.12 % 136,944 3.09 % 120,322 3.02 %

Net interest-earning assets/Net interest margin FTE $ 4,145,658 3.75 % $ 4,105,755 3.70 % $ 4,121,114 3.69 % $ 3,946,122 3.65 % $ 3,548,356 3.56 %

Tax equivalent adjustment (d) 835 866 1,035 970 878

Net interest income, GAAP basis 146,938 142,482 142,166 135,974 119,444

Ratio of interest-earning assets to interest-bearing liabilities 1.36X 1.35X 1.37X 1.36X 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.

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

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.

Six months ended June 30,

2026 2025

Average

balance Interest Avg.

yield/cost Average

balance Interest Avg.

yield/cost

Assets

Interest-earning assets:

Residential mortgage loans $ 3,054,223 60,815 3.98 % $ 3,123,353 60,372 3.87 %

Home equity loans 1,497,606 43,310 5.83 % 1,142,708 32,429 5.72 %

Consumer loans 2,594,507 70,334 5.47 % 2,011,012 54,921 5.51 %

Commercial real estate loans 3,236,260 100,628 6.18 % 2,858,064 99,973 6.96 %

Commercial loans 2,706,468 89,250 6.56 % 2,077,799 73,299 7.02 %

Loans receivable (a) (b) (d) 13,089,064 364,337 5.61 % 11,212,936 320,994 5.77 %

Mortgage-backed securities (c) 2,190,996 35,023 3.20 % 1,781,959 23,884 2.68 %

Investment securities (c) (d) 308,480 5,218 3.38 % 264,945 3,269 2.47 %

FHLB stock, at cost 35,313 1,505 8.60 % 19,342 684 7.13 %

Other interest-earning deposits 140,934 2,307 3.26 % 231,914 5,089 4.36 %

Total interest-earning assets 15,764,787 408,390 5.22 % 13,511,096 353,920 5.28 %

Noninterest-earning assets (e) 1,083,506 924,426

Total assets $ 16,848,293 $ 14,435,522

Liabilities and shareholders’ equity

Interest-bearing liabilities:

Savings deposits $ 2,421,847 12,603 1.05 % $ 2,203,289 12,973 1.19 %

Interest-bearing demand deposits 2,986,607 17,163 1.16 % 2,601,604 14,255 1.10 %

Money market deposit accounts 2,669,291 24,851 1.88 % 2,102,124 18,964 1.82 %

Time deposits 2,924,445 46,850 3.23 % 2,614,238 47,959 3.70 %

Total interest bearing deposits (g) 11,002,190 101,467 1.86 % 9,521,255 94,151 1.99 %

Borrowed funds (f) 391,835 7,615 3.92 % 216,189 4,252 3.97 %

Subordinated debt 114,800 4,405 7.63 % 114,618 2,296 4.01 %

Junior subordinated debentures 130,151 3,783 5.78 % 129,889 4,204 6.44 %

Total interest-bearing liabilities 11,638,976 117,270 2.03 % 9,981,951 104,903 2.12 %

Noninterest-bearing demand deposits (g) 3,088,330 2,600,113

Noninterest-bearing liabilities 217,964 227,116

Total liabilities 14,945,270 12,809,180

Shareholders’ equity 1,903,023 1,626,342

Total liabilities and shareholders’ equity $ 16,848,293 $ 14,435,522

Net interest income/Interest rate spread 291,120 3.19 % 249,017 3.16 %

Net interest-earning assets/Net interest margin $ 4,125,811 3.72 % $ 3,529,145 3.72 %

Tax equivalent adjustment (d) 1,700 1,755

Net interest income, GAAP basis 289,420 247,262

Ratio of interest-earning assets to interest-bearing liabilities 1.35X 1.35X

(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 1.57%, respectively.

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