Form 8-K

8-K — Northwest Bancshares, Inc.

Accession: 0001471265-26-000044

Filed: 2026-10-26

Period: 2026-10-26

CIK: 0001471265

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nwbi-20261026.htm (Primary)

EX-99 (a2026-09x30nwbi8ker.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: nwbi-20261026.htm · Sequence: 1

nwbi-20261026

0001471265false00014712652026-10-262026-10-26

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): October 26, 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 October 26, 2026, Northwest Bancshares, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2026 (the "Press Release"). The Press Release is being furnished as Exhibit 99.1. The Company also made available its third 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 October 26, 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: October 26, 2026 By:

/s/ Douglas M. Schosser

Douglas M. Schosser

Chief Financial Officer

EX-99

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Document

EXHIBIT 99.1

PRESS RELEASE OF NORTHWEST BANCSHARES, INC.

EARNINGS RELEASE

FOR IMMEDIATE RELEASE

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

$51 million, or $0.34 per diluted share

Record total revenue and net interest income

Adjusted diluted EPS (non-GAAP) of $0.35 per share

31% average C&I loan growth from prior year

Credit quality remained strong with annualized net charge-offs of 0.15% and nonperforming loans of 0.74%

Columbus, Ohio — October 26, 2026 Northwest Bancshares, Inc. (the “Company”) (Nasdaq: NWBI) announced net income for the quarter ended September 30, 2026 of $51 million, or $0.34 per diluted share. This represents an increase of $48 million compared to the same quarter last year, when net income was $3 million, or $0.02 per diluted share, and a decrease of $3 million compared to the prior quarter, when net income was $54 million, or $0.36 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended September 30, 2026 were 10.42% and 1.18% compared to 0.69% and 0.08% for the same quarter last year and 11.20% and 1.27% for the prior quarter.

Adjusted net income (non-GAAP) for the quarter ended September 30, 2026 was $51 million, or $0.35, per diluted share, which decreased by $3 million from $54 million, or $0.37, per diluted share, in the prior quarter. This decrease was primarily driven by an increase in provision for credit losses expense of $2 million and an increase in noninterest expense of $5 million which were partially offset by an increase in net interest income of $2 million and an increase in noninterest income of $2 million. The adjusted annualized returns on average shareholders’ equity (non-GAAP) and average assets (non-GAAP) for the quarter ended September 30, 2026 were 10.45% and 1.18% compared to 11.26% and 1.28% 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 November 17, 2026 to shareholders of record as of November 5, 2026. This is the 128th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of September 30, 2026, this represents an annualized dividend yield of approximately 5.4%.

Louis J. Torchio, President and CEO, Northwest Bancshares commented, “The Northwest Team delivered yet another quarter of strong performance, with record total revenue and net interest income, and a balanced and consistent performance across the whole bank. We drove 31% year-over-year average loan growth in our C&I business, with continued growth in our national specialty business verticals and middle market portfolio, and benefited from the strength of our retail deposit franchise and low deposit costs, one of the best-in-class among our peers.

We continue to execute our strategy for delivering sustainable, responsible growth, investing in its key drivers, including our people, our communities and the physical infrastructure that make it possible. In the third quarter we opened our first two financial centers in Columbus, added talent in the Columbus market and to our senior leadership team, and maintained our expense management discipline, with an efficiency ratio of 58.9% and adjusted efficiency ratio of 57.8%. We were also recognized in Forbes' World's Top Performing Banks 2026.

We look forward to a strong finish in the fourth quarter of 2026, as we build on the momentum the team is developing in Columbus and across our entire retail footprint and commercial network. Our focus remains on driving excellence across all aspects of the bank, continuing to optimize our operations, and serving our core customers and communities with the personal approach they value.”

Balance Sheet Highlights

Dollars in thousands Change 3Q26 vs.

3Q26 2Q26 3Q25 2Q26 3Q25

Average loans receivable $ 13,302,278 13,094,235 12,568,497 1.6 % 5.8 %

Average investments 2,604,899 2,531,603 2,111,928 2.9 % 23.3 %

Average deposits 14,139,954 14,133,825 13,296,651 — % 6.3 %

Average borrowed funds 617,533 379,262 347,357 62.8 % 77.8 %

Balance sheet highlights compared to the quarter ended September 30, 2025

•Average loans receivable increased $734 million primarily driven by the Penns Woods Bancorp, Inc. ("Penns Woods") acquisition

•Average investments grew $493 million primarily driven by the Penns Woods acquisition and a targeted increase in the overall securities portfolio

•Average deposits grew $843 million primarily driven by an increase in interest-bearing account balances primarily due to the addition of the Penns Woods deposit accounts

•Average borrowings increased $270 million due to average loan and investment growth exceeding the rate of average deposit growth

Balance sheet highlights compared to the quarter ended June 30, 2026

•Average loans receivable increased $208 million driven by growth in our commercial and industrial and consumer loan portfolios offset by a decline in our commercial real estate portfolio

•Average investments grew $73 million due to a targeted increase in the overall securities portfolio

•Average deposits grew $6 million primarily driven by an increase in non-interest bearing and money market deposit account balances partly due to customers shifting funds to these products as their time deposits matured

•Average borrowings increased $238 million for the same reason noted above

Income Statement Highlights

Dollars in thousands Change 3Q26 vs.

3Q26 2Q26 3Q25 2Q26 3Q25

Interest income $ 210,171 205,140 194,678 2.5 % 8.0 %

Interest expense 61,221 58,202 58,704 5.2 % 4.3 %

Net interest income $ 148,950 146,938 135,974 1.4 % 9.5 %

Net interest margin FTE 3.70 % 3.75 % 3.65 %

Compared to the quarter ended September 30, 2025, net interest income increased $13 million and net interest margin increased to 3.70% from 3.65%. This increase in net interest income resulted primarily from the following:

•A $15 million increase in interest income that was the result of:

◦An increase in average interest-earning assets partially driven by the Penns Woods acquisition during the third quarter 2025

◦Yields on average interest-earning assets was 5.22% for both periods with an increase in investment yields offset by a decline in loan yields

•A $3 million increase in interest expense that was the result of :

◦An increase in the average balance of interest-bearing liabilities partially driven by the Penns Woods acquisition

◦Partially offset by a decline in the cost of interest-bearing liabilities to 2.05% from 2.13%

Compared to the quarter ended June 30, 2026, net interest income increased $2 million and net interest margin decreased to 3.70% for the quarter ended September 30, 2026 from 3.75%. This increase in net interest income resulted primarily from the following:

•A $5 million increase in interest income that was driven by:

◦Growth in the average interest-earning balances

◦Yields on average interest-earning assets declined to 5.22% from 5.23% with an increase in investment yields offset by a decline in loan yields which was driven by a decline in the accretion of acquired loan fair value marks coupled with a change in portfolio mix

•A $3 million increase in interest expense driven by:

◦An increase in the average balance and average cost of interest-bearing liabilities

◦Average cost of interest-bearing deposits increased to 1.85% from 1.83% while average cost of borrowings declined slightly to 3.94% from 3.96%

Dollars in thousands Change 3Q26 vs.

3Q26 2Q26 3Q25 2Q26 3Q25

Provision for credit losses - loans $ 5,220 4,280 31,394 22.0 % (83.4) %

Provision for credit losses - unfunded commitments 3,896 2,357 (189) 65.3 % 2161.4 %

Total provision for credit losses expense $ 9,116 6,637 31,205 37.4 % (70.8) %

Classified loans $ 468,968 524,056 527,040 (10.5) % (11.0) %

Classified loans as a percent of total loans 3.50 % 3.96 % 4.07 %

Compared to the quarter ended September 30, 2025:

•Total provision for credit losses decreased $22 million primarily driven by the Day 1 initial provision from the Penns Woods acquisition of $20.6 million

•Classified loans decreased $58 million driven by changes in our commercial real estate portfolio primarily due to the payoff of classified loans during the quarter

Compared to the quarter ended June 30, 2026:

•Total provision for credit losses increased $2 million primarily driven by growth in our commercial lending portfolio, including unfunded commitments

•Classified loans decreased $55 million driven by the same factors discussed above

Dollars in thousands Change 3Q26 vs.

3Q26 2Q26 3Q25 2Q26 3Q25

Noninterest income:

Gain on sale of investments $ 313 336 36 (6.8) % 769.4 %

Gain on sale of SBA loans 1,081 1,217 341 (11.2) % 217.0 %

Service charges and fees 17,935 16,908 16,911 6.1 % 6.1 %

Trust and other financial services income 10,108 9,449 8,040 7.0 % 25.7 %

Gain on real estate owned, net 315 20 132 1475.0 % 138.6 %

Income from bank-owned life insurance 2,222 2,013 1,751 10.4 % 26.9 %

Mortgage banking income 363 738 1,003 (50.8) % (63.8) %

Other operating income 3,590 3,548 3,984 1.2 % (9.9) %

Total noninterest income $ 35,927 34,229 32,198 5.0 % 11.6 %

Noninterest income increased $4 million from the quarter ended September 30, 2025 from the following reasons:

•$1 million increase in service charges and fees driven by deposit related fees based on customer activity related to the Penns Woods acquisition

•$2 million increase in trust and other financial services income due to growth in our wealth management business

Noninterest income increased by $2 million from the quarter ended June 30, 2026 from the following reasons:

•$1 million increase in service charges and fees driven by both loan and deposit related fees based on customer activity

•$1 million increase in trust and other financial services income due to growth in our wealth management business

Dollars in thousands Change 3Q26 vs.

3Q26 2Q26 3Q25 2Q26 3Q25

Noninterest expense:

Personnel expense $ 63,931 63,476 63,014 0.7 % 1.5 %

Non-personnel expense 45,040 40,807 70,484 10.4 % (36.1) %

Total noninterest expense $ 108,971 104,283 133,498 4.5 % (18.4) %

Noninterest expense decreased $25 million from the quarter ended September 30, 2025 due to the following reasons:

•Personnel expense increased $1 million driven by an increase in core compensation and benefits expense due to the addition of Penns Woods employees

•Non-personnel expense decreased by $25 million due to a $31 million decrease in merger, asset disposition and restructuring expense. This decrease was partially offset by an increase of $2 million in processing expenses and a $1 million increase in operating expense primarily due to the addition of the Penns Woods branches to our footprint.

Noninterest expense increased $5 million from the quarter ended June 30, 2026 due to the following reasons:

•Non-personnel expense increased by $4 million due to an increase of $3 million in FDIC insurance premium expense, as the prior quarter included a benefit related to prior period assessment rate changes

Dollars in thousands Change 3Q26 vs.

3Q26 2Q26 3Q25 2Q26 3Q25

Income before income taxes $ 66,790 70,247 3,469 (4.9) % 1825.3 %

Income tax expense 16,071 16,701 302 (3.8) % 5221.5 %

Net income $ 50,719 53,546 3,167 (5.3) % 1501.5 %

The provision for income taxes increased by $16 million from the quarter ended September 30, 2025 and decreased $1 million for the quarter ended June 30, 2026 primarily due to the quarterly change in income before income taxes.

Net income increased from the quarter ended September 30, 2025 and decreased from the quarter ended June 30, 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 September 30, 2026, Northwest operated 153 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. The words “believe,” “anticipate,” “estimate,” “expect,” “project,” “target,” “goal” and similar expressions are examples of language 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 regarding our goals, intentions and expectations; statements regarding our financial condition and results of operations, including statements related to our earnings outlook; future dividend payments; our business plans, prospects, growth, customers, investments and operating strategies; 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, assumptions, and other important factors including but not limited to the following: 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; volatility in fuel prices and resulting macroeconomic impacts; 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 and increased risk due to artificial

intelligence; 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, geopolitical uncertainty, 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 our Annual Report on Form 10-K for the year ended December 31, 2025, including under the section entitled "Item 1A - Risk Factors," and in subsequent filings made by us with the SEC. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to publicly release any updates or revisions to reflect any change in our expectations with regard to any change in events, conditions or circumstances on which any such statement is based, unless required by law.

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)

September 30,

2026 June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025

Assets

Cash and cash equivalents $ 223,310 248,499 286,707 233,647 278,817

Marketable securities available-for-sale (amortized cost of $1,974,633, $1,972,165, $1,884,060, $1,710,978 and $1,405,959, respectively)

1,751,568 1,829,179 1,746,919 1,586,382 1,270,880

Marketable securities held-to-maturity (fair value of $518,383, $550,416, $567,470, $605,929 and $618,633, respectively)

612,731 630,802 646,661 683,369 702,392

Total cash and cash equivalents and marketable securities 2,587,609 2,708,480 2,680,287 2,503,398 2,252,089

Loans held-for-sale 8,374 15,391 16,846 22,437 22,297

Residential mortgage loans 2,984,204 3,001,908 3,035,984 3,100,780 3,157,853

Home equity loans 1,496,559 1,497,157 1,495,800 1,507,532 1,520,893

Consumer loans 2,918,083 2,843,058 2,660,567 2,563,890 2,453,805

Commercial real estate loans 2,931,601 2,988,237 3,161,314 3,296,902 3,495,664

Commercial and industrial loans 3,062,849 2,898,867 2,702,283 2,538,212 2,312,718

Total loans receivable 13,393,296 13,229,227 13,055,948 13,007,316 12,940,933

Allowance for credit losses (149,626) (149,321) (150,045) (150,212) (157,396)

Loans receivable, net 13,243,670 13,079,906 12,905,903 12,857,104 12,783,537

FHLB stock, at cost 51,439 43,345 32,781 36,628 33,349

Accrued interest receivable 59,783 57,473 57,221 56,291 55,549

Real estate owned, net 2,772 63 65 76 174

Premises and equipment, net 148,843 144,423 141,477 140,381 139,491

Bank-owned life insurance 294,011 293,354 292,103 294,386 303,115

Goodwill 444,997 444,997 444,330 444,330 438,402

Other intangible assets, net 33,242 35,312 37,478 39,667 47,924

Other assets 435,119 384,395 298,558 371,919 305,082

Total assets $ 17,309,859 17,207,139 16,907,049 16,766,617 16,381,009

Liabilities and shareholders’ equity

Liabilities

Noninterest-bearing demand deposits $ 3,166,262 3,191,560 3,121,044 3,123,229 3,089,963

Interest-bearing demand deposits 3,041,379 2,916,518 2,937,654 2,995,759 2,898,350

Money market deposit accounts 2,831,245 2,766,675 2,734,781 2,540,818 2,462,979

Savings deposits 2,438,182 2,459,255 2,444,799 2,366,513 2,373,413

Time deposits 2,797,970 2,827,810 2,975,026 2,916,698 2,871,544

Total deposits 14,275,038 14,161,818 14,213,304 13,943,017 13,696,249

Borrowed funds 786,715 612,075 350,884 446,283 368,241

Subordinated debt — 114,800 114,800 114,800 114,800

Junior subordinated debentures 130,288 130,223 130,158 130,093 130,028

Advances by borrowers for taxes and insurance 20,300 47,400 40,127 37,309 21,840

Accrued interest payable 7,616 8,385 8,585 6,846 10,555

Other liabilities 197,668 205,031 144,884 197,845 183,560

Total liabilities 15,417,625 15,279,732 15,002,742 14,876,193 14,525,273

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, 146,559,425; 146,396,520; 146,302,025; 146,107,964 and 146,097,057 shares issued and outstanding, respectively

1,466 1,464 1,463 1,461 1,461

Additional paid-in capital 1,277,121 1,274,117 1,271,372 1,270,444 1,268,694

Retained earnings 755,548 734,423 710,351 689,210 672,843

Accumulated other comprehensive loss (141,901) (82,597) (78,879) (70,691) (87,262)

Total shareholders’ equity 1,892,234 1,927,407 1,904,307 1,890,424 1,855,736

Total liabilities and shareholders’ equity $ 17,309,859 17,207,139 16,907,049 16,766,617 16,381,009

Equity to assets 10.93 % 11.20 % 11.26 % 11.27 % 11.33 %

Tangible common equity to tangible assets* 8.40 % 8.65 % 8.66 % 8.64 % 8.62 %

Book value per share $ 12.91 13.17 13.02 12.94 12.70

Tangible book value per share* $ 9.65 9.88 9.72 9.63 9.37

Closing market price per share $ 14.84 15.16 12.69 12.00 12.39

Full time equivalent employees 2,157 2,183 2,170 2,169 2,190

Number of banking offices 164 162 161 161 161

* 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

September 30, 2026 June 30,

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

Interest income:

Loans receivable $ 186,750 182,469 180,549 184,047 177,723

Mortgage-backed securities 19,001 18,024 16,999 14,071 12,668

Taxable investment securities 1,990 1,799 1,601 1,324 1,183

Tax-free investment securities 594 674 762 777 752

FHLB stock dividends 1,061 738 768 701 652

Interest-earning deposits 775 1,436 871 1,905 1,700

Total interest income 210,171 205,140 201,550 202,825 194,678

Interest expense:

Deposits 51,298 50,384 51,083 52,947 51,880

Borrowed funds 9,923 7,818 7,985 7,712 6,824

Total interest expense 61,221 58,202 59,068 60,659 58,704

Net interest income 148,950 146,938 142,482 142,166 135,974

Provision for credit losses - loans 5,220 4,280 4,954 5,743 31,394

Provision for credit losses - unfunded commitments 3,896 2,357 (585) 1,981 (189)

Net interest income after provision for credit losses 139,834 140,301 138,113 134,442 104,769

Noninterest income:

Gain on sale of investments 313 336 11 142 36

Gain on sale of SBA loans 1,081 1,217 1,186 437 341

Service charges and fees 17,935 16,908 17,118 17,377 16,911

Trust and other financial services income 10,108 9,449 8,618 8,416 8,040

Gain on real estate owned, net 315 20 70 148 132

Income from bank-owned life insurance 2,222 2,013 2,042 8,269 1,751

Mortgage banking income 363 738 329 379 1,003

Other operating income 3,590 3,548 3,208 2,609 3,984

Total noninterest income 35,927 34,229 32,582 37,777 32,198

Noninterest expense:

Compensation and employee benefits 63,931 63,476 58,330 65,143 63,014

Premises and occupancy costs 8,943 8,494 9,863 8,170 7,707

Office operations 3,651 3,660 3,875 4,217 3,495

Collections expense 1,109 665 878 856 776

Processing expenses 17,452 16,948 16,806 16,454 15,072

Marketing expenses 2,662 2,362 1,668 1,827 1,932

Federal deposit insurance premiums 3,169 (291) 2,895 3,538 3,361

Professional services 3,094 3,490 3,523 3,366 3,010

Amortization of intangible assets 2,070 2,166 2,189 2,257 1,974

Merger, asset disposition and restructuring expense 238 426 631 4,160 31,260

Other expenses 2,652 2,887 3,380 3,533 1,897

Total noninterest expense 108,971 104,283 104,038 113,521 133,498

Income before income taxes 66,790 70,247 66,657 58,698 3,469

Income tax expense 16,071 16,701 16,121 12,985 302

Net income $ 50,719 53,546 50,536 45,713 3,167

Basic earnings per share $ 0.35 0.37 0.35 0.31 0.02

Diluted earnings per share $ 0.34 0.36 0.34 0.31 0.02

Weighted average common shares outstanding - diluted 147,460,563 147,127,223 146,850,635 146,703,966 141,175,516

Annualized return on average equity 10.42 % 11.20 % 10.86 % 9.70 % 0.69 %

Annualized return on average assets 1.18 % 1.27 % 1.22 % 1.10 % 0.08 %

Annualized return on average tangible common equity* 13.86 % 14.94 % 14.59 % 13.10 % 0.90 %

Efficiency ratio 58.94 % 57.56 % 59.43 % 63.09 % 79.38 %

Efficiency ratio, excluding certain items** 57.79 % 56.24 % 57.82 % 59.57 % 59.63 %

* 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)

Nine months ended September 30,

2026 2025

Interest income:

Loans receivable $ 549,768 497,275

Mortgage-backed securities 54,024 36,552

Taxable investment securities 5,390 3,115

Tax-free investment securities 2,030 1,776

FHLB stock dividends 2,567 1,336

Interest-earning deposits 3,082 6,789

Total interest income 616,861 546,843

Interest expense:

Deposits 152,765 146,031

Borrowed funds 25,726 17,576

Total interest expense 178,491 163,607

Net interest income 438,370 383,236

Provision for credit losses - loans 14,454 51,106

Provision for credit losses - unfunded commitments 5,668 (3,246)

Net interest income after provision for credit losses 418,248 335,376

Noninterest income:

Gain on sale of investments 660 36

Gain on sale of SBA loans 3,484 2,398

Service charges and fees 51,961 47,695

Trust and other financial services income 28,175 23,898

Gain on real estate owned, net 405 474

Income from bank-owned life insurance 6,277 4,503

Mortgage banking income 1,430 2,774

Other operating income 10,346 9,713

Total noninterest income 102,738 91,491

Noninterest expense:

Compensation and employee benefits 185,737 172,767

Premises and occupancy costs 27,300 23,229

Office operations 11,186 9,382

Collections expense 2,652 1,942

Processing expenses 51,206 42,035

Marketing expenses 6,692 6,830

Federal deposit insurance premiums 5,773 7,985

Professional services 10,107 9,756

Amortization of intangible assets 6,425 2,914

Merger, asset disposition and restructuring expense 1,295 38,627

Other expenses 8,919 7,308

Total noninterest expense 317,292 322,775

Income before income taxes 203,694 104,092

Income tax expense 48,893 23,792

Net income $ 154,801 80,300

Basic earnings per share $ 1.06 0.61

Diluted earnings per share $ 1.05 0.61

Weighted average common shares outstanding - diluted 147,161,720 132,700,517

Annualized return on average equity 10.82 % 6.36 %

Annualized return on average assets 1.22 % 0.72 %

Annualized return on tangible common equity* 14.46 % 8.29 %

Efficiency ratio 58.64 % 67.99 %

Efficiency ratio, excluding certain items** 57.28 % 59.25 %

* 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 Nine months ended September 30,

September 30, 2026 June 30,

2026 September 30, 2025 2026 2025

Reconciliation of net income to adjusted net income:

Net income (GAAP) $ 50,719 53,546 3,167 154,801 80,300

Non-GAAP adjustments

Add: merger, asset disposition and restructuring expense 238 426 31,260 1,295 38,627

Add: CECL Day 1 non-PCD and unfunded provision expense — — 20,664 — 20,664

Less: tax benefit of non-GAAP adjustments (67) (119) (14,539) (363) (16,601)

Adjusted net income (non-GAAP) $ 50,890 53,853 40,552 155,733 122,990

Diluted earnings per share (GAAP) $ 0.34 0.36 0.02 1.05 0.61

Diluted adjusted earnings per share (non-GAAP) $ 0.35 0.37 0.29 1.06 0.93

Average equity $ 1,931,345 1,918,135 1,809,395 1,912,567 1,688,030

Average assets 17,122,498 16,863,639 15,942,440 16,940,700 14,943,347

Annualized return on average equity (GAAP) 10.42 % 11.20 % 0.69 % 10.82 % 6.36 %

Annualized return on average assets (GAAP) 1.18 % 1.27 % 0.08 % 1.22 % 0.72 %

Annualized return on average equity, excluding merger, asset disposition and restructuring expense and CECL Day 1 non-PCD and unfunded provision expense, net of tax (non-GAAP) 10.45 % 11.26 % 8.89 % 10.89 % 9.74 %

Annualized return on average assets, excluding merger, asset disposition and restructuring expense and CECL Day 1 non-PCD and unfunded provision expense, net of tax (non-GAAP) 1.18 % 1.28 % 1.01 % 1.23 % 1.10 %

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.

September 30,

2026 June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025

Tangible common equity to assets

Total shareholders’ equity $ 1,892,234 1,927,407 1,904,307 1,890,424 1,855,736

Less: goodwill and intangible assets (478,239) (480,309) (481,808) (483,997) (486,326)

Tangible common equity $ 1,413,995 1,447,098 1,422,499 1,406,427 1,369,410

Total assets $ 17,309,859 17,207,139 16,907,049 16,766,617 16,381,009

Less: goodwill and intangible assets (478,239) (480,309) (481,808) (483,997) (486,326)

Tangible assets $ 16,831,620 16,726,830 16,425,241 16,282,620 15,894,683

Tangible common equity to tangible assets 8.40 % 8.65 % 8.66 % 8.64 % 8.62 %

Tangible book value per share

Tangible common equity $ 1,413,995 1,447,098 1,422,499 1,406,427 1,369,410

Common shares outstanding 146,559,425 146,396,520 146,302,025 146,107,964 146,097,057

Tangible book value per share 9.65 9.88 9.72 9.63 9.37

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 Nine months ended September 30,

September 30,

2026 June 30,

2026 March 31,

2026 December 31, 2025 September 30,

2025 2026 2025

Annualized return on average tangible common equity

Net income $ 50,719 53,546 50,536 45,713 3,167 154,801 80,300

Average shareholders’ equity 1,931,345 1,918,135 1,887,742 1,870,088 1,809,395 1,912,567 1,688,030

Less: average goodwill and intangible assets (479,590) (481,022) (483,240) (485,252) (409,875) (481,271) (392,321)

Average tangible common equity $ 1,451,755 1,437,113 1,404,502 1,384,836 1,399,520 1,431,296 1,295,709

Annualized return on average tangible common equity 13.86 % 14.94 % 14.59 % 13.10 % 0.90 % 14.46 % 8.29 %

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

Noninterest expense $ 108,971 104,283 104,038 113,521 133,498 317,292 322,775

Less: amortization expense (2,070) (2,166) (2,189) (2,257) (1,974) (6,425) (2,914)

Less: merger, asset disposition and restructuring expenses (238) (426) (631) (4,160) (31,260) (1,295) (38,627)

Noninterest expense, excluding amortization and merger, assets disposition and restructuring expenses $ 106,663 101,691 101,218 107,104 100,264 309,572 281,234

Net interest income $ 148,950 146,938 142,482 142,166 135,974 438,370 383,236

Noninterest income 35,927 34,229 32,582 37,777 32,198 102,738 91,491

Less: gain on the sale of investments (313) (336) (11) (142) (36) (660) (36)

Net interest income plus noninterest income, excluding gain on sale of investments $ 184,564 180,831 175,053 179,801 168,136 540,448 474,691

Efficiency ratio, excluding gain on sale of investments, amortization and merger, asset disposition and restructuring expenses 57.79 % 56.24 % 57.82 % 59.57 % 59.63 % 57.28 % 59.25 %

* 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 September 30, 2026

Balance Percent of

total deposits Number of

relationships

Uninsured deposits per the Call Report (1) $ 4,084,262 28.6 % 6,330

Less intercompany deposit accounts 1,445,562 10.1 % 12

Less collateralized deposit accounts 446,859 3.1 % 253

Uninsured deposits excluding intercompany and collateralized accounts $ 2,191,841 15.4 % 6,065

(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 $236 million, or 1.7% of total deposits, as of September 30, 2026. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $443 million, or 3.1% of total deposits, as of September 30, 2026. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $361,392 as of September 30, 2026.

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

As of September 30, 2026

Balance Percent of

total deposits Number of

accounts

Personal noninterest-bearing demand deposits $ 1,729,843 12.1 % 311,740

Business noninterest-bearing demand deposits 1,436,419 10.1 % 47,697

Personal interest-bearing demand deposits 1,361,249 9.5 % 53,980

Business interest-bearing demand deposits 1,680,130 11.8 % 8,690

Personal money market deposits 1,818,126 12.7 % 28,796

Business money market deposits 1,013,119 7.1 % 3,180

Savings deposits 2,438,182 17.1 % 187,586

Time deposits 2,797,970 19.6 % 74,195

Total deposits $ 14,275,038 100.0 % 715,864

Our average deposit account balance as of September 30, 2026 was $19,941. The Company’s insured cash sweep deposit balance was $827 million as of September 30, 2026.

Northwest Bancshares, Inc. and Subsidiaries

Regulatory Capital Requirements (Unaudited)

(dollars in thousands)

At September 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. $ 1,872,875 14.39 % $ 1,366,301 10.50 % $ 1,301,239 10.00 %

Northwest Bank 1,730,470 13.34 % 1,361,617 10.50 % 1,296,778 10.00 %

Tier 1 capital (to risk weighted assets)

Northwest Bancshares, Inc. 1,583,750 12.17 % 1,106,053 8.50 % 780,744 6.00 %

Northwest Bank 1,568,195 12.09 % 1,102,262 8.50 % 1,037,423 8.00 %

Common equity tier 1 capital (to risk weighted assets)

Northwest Bancshares, Inc. 1,583,750 12.17 % 910,868 7.00 % N/A N/A

Northwest Bank 1,568,195 12.09 % 907,745 7.00 % 842,906 6.50 %

Tier 1 capital (leverage) (to average assets)

Northwest Bancshares, Inc. 1,583,750 9.40 % 674,178 4.00 % N/A N/A

Northwest Bank 1,568,195 9.31 % 673,786 4.00 % 842,232 5.00 %

(1) September 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)

September 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 $ 39,019 — (8,492) 30,527 5.71

Municipal securities:

Due in one year or less 3,578 — (28) 3,550 0.65

Due after one year through five years 3,299 — (101) 3,198 3.05

Due after five years through ten years 21,308 — (2,707) 18,601 6.48

Due after ten years 47,057 87 (10,475) 36,669 9.73

Corporate debt issues:

Due after one year through five years 16,276 107 (367) 16,016 3.31

Due after five years through ten years 84,266 856 (1,909) 83,213 6.05

Due after ten years 12,000 19 — 12,019 4.33

Mortgage-backed agency securities:

Fixed rate pass-through 516,430 — (39,526) 476,904 7.57

Variable rate pass-through 344 2 — 346 2.67

Fixed rate agency CMBS 625,167 — (106,348) 518,819 3.65

Variable rate agency CMBS 6,248 — (6) 6,242 2.22

Fixed rate agency CMOs 571,932 10 (54,214) 517,728 5.03

Variable rate agency CMOs 27,709 34 (7) 27,736 6.52

Total mortgage-backed agency securities 1,747,830 46 (200,101) 1,547,775 5.36

Total marketable securities available-for-sale $ 1,974,633 1,115 (224,180) 1,751,568 5.47

Marketable securities held-to-maturity

Government sponsored:

Due after one year through five years $ 107,991 — (9,180) 98,811 2.25

Mortgage-backed agency securities:

Fixed rate pass-through 87,879 — (12,431) 75,448 3.70

Variable rate pass-through 280 — — 280 3.66

Fixed rate agency CMBS 70,093 — (14,157) 55,936 3.40

Fixed rate agency CMOs 345,960 — (58,577) 287,383 5.17

Variable rate agency CMOs 528 — (3) 525 3.42

Total mortgage-backed agency securities 504,740 — (85,168) 419,572 4.67

Total marketable securities held-to-maturity $ 612,731 — (94,348) 518,383 4.24

Northwest Bancshares, Inc. and Subsidiaries

Asset Quality (Unaudited)

(dollars in thousands)

September 30,

2026 June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025

Nonaccrual loans:

Residential mortgage loans $ 12,508 11,766 10,500 12,247 11,497

Home equity loans 6,245 5,370 4,780 3,755 6,979

Consumer loans 5,080 4,791 5,732 5,711 5,898

Commercial real estate loans 40,348 47,440 47,337 57,485 82,580

Commercial and industrial loans 34,506 21,984 22,594 28,085 21,371

Total nonaccrual loans 98,687 91,351 90,943 107,283 128,325

Loans 90 days past due and still accruing 484 573 543 646 701

Nonperforming loans 99,171 91,924 91,486 107,929 129,026

Real estate owned, net 2,772 63 65 76 174

Nonperforming assets $ 101,943 91,987 91,551 108,005 129,200

Nonperforming loans to total loans 0.74 % 0.69 % 0.70 % 0.83 % 1.00 %

Nonperforming assets to total assets 0.59 % 0.53 % 0.54 % 0.64 % 0.79 %

Allowance for credit losses to total loans 1.12 % 1.13 % 1.15 % 1.15 % 1.22 %

Allowance for credit losses to nonperforming loans 150.88 % 162.44 % 164.01 % 139.18 % 121.99 %

Northwest Bancshares, Inc. and Subsidiaries

Loans by Credit Quality Indicators (Unaudited)

(dollars in thousands)

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

receivable

Personal Banking:

Residential mortgage loans $ 2,971,697 — 12,507 — — 2,984,204

Home equity loans 1,490,313 — 6,246 — — 1,496,559

Consumer loans 2,912,520 — 5,563 — — 2,918,083

Total Personal Banking 7,374,530 — 24,316 — — 7,398,846

Commercial Banking:

Commercial real estate loans 2,438,398 148,563 344,640 — — 2,931,601

Commercial and industrial loans 2,915,066 47,771 98,674 1,338 — 3,062,849

Total Commercial Banking 5,353,464 196,334 443,314 1,338 — 5,994,450

Total loans $ 12,727,994 196,334 467,630 1,338 — 13,393,296

At June 30, 2026

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

* Includes $67.2 million, $79.1 million, $85.6 million, $38.2 million, and $41.0 million of acquired loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

** Includes $177.5 million, $163.0 million, $100.4 million, $93.2 million, and $96.9 million of acquired loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

Northwest Bancshares, Inc. and Subsidiaries

Loan Delinquency (Unaudited)

(dollars in thousands)

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

Loans delinquent 30 days to 59 days:

Residential mortgage loans $ 1,233 — % $ 1,140 — % $ 44,502 1.5 % $ 41,180 1.3 % $ 1,639 0.1 %

Home equity loans 6,535 0.4 % 6,611 0.4 % 5,932 0.4 % 6,488 0.4 % 4,644 0.3 %

Consumer loans 13,411 0.5 % 11,812 0.4 % 10,429 0.4 % 14,063 0.5 % 12,257 0.5 %

Commercial real estate loans 6,457 0.2 % 4,370 0.1 % 17,541 0.6 % 28,645 0.9 % 14,600 0.4 %

Commercial and industrial loans 1,297 — % 2,844 0.1 % 7,127 0.3 % 5,657 0.2 % 9,974 0.4 %

Total loans delinquent 30 days to 59 days $ 28,933 0.2 % $ 26,777 0.2 % $ 85,531 0.7 % $ 96,033 0.7 % $ 43,114 0.3 %

Loans delinquent 60 days to 89 days:

Residential mortgage loans $ 5,830 0.2 % $ 7,468 0.2 % $ 2,531 0.1 % $ 10,934 0.4 % $ 7,917 0.3 %

Home equity loans 1,603 0.1 % 2,116 0.1 % 2,946 0.2 % 2,316 0.2 % 2,671 0.2 %

Consumer loans 4,478 0.2 % 3,508 0.1 % 4,264 0.2 % 4,599 0.2 % 3,691 0.2 %

Commercial real estate loans 5,416 0.2 % 3,208 0.1 % 25,859 0.8 % 12,941 0.4 % 1,575 — %

Commercial and industrial loans 22,661 0.7 % 5,837 0.2 % 8,432 0.3 % 2,899 0.1 % 1,915 0.1 %

Total loans delinquent 60 days to 89 days $ 39,988 0.3 % $ 22,137 0.2 % $ 44,032 0.3 % $ 33,689 0.3 % $ 17,769 0.1 %

Loans delinquent 90 days or more:

Residential mortgage loans $ 10,901 0.4 % $ 10,671 0.4 % $ 6,468 0.2 % $ 10,001 0.3 % $ 9,427 0.3 %

Home equity loans 5,014 0.3 % 4,343 0.3 % 3,263 0.2 % 2,492 0.2 % 2,963 0.2 %

Consumer loans 4,224 0.1 % 4,038 0.1 % 4,561 0.2 % 4,893 0.2 % 4,865 0.2 %

Commercial real estate loans 15,944 0.5 % 29,840 1.0 % 18,282 0.6 % 32,745 1.0 % 56,453 1.6 %

Commercial and industrial loans 11,945 0.4 % 15,659 0.5 % 11,266 0.4 % 16,269 0.6 % 9,490 0.4 %

Total loans delinquent 90 days or more $ 48,028 0.4 % $ 64,551 0.5 % $ 43,840 0.3 % $ 66,400 0.5 % $ 83,198 0.6 %

Total loans delinquent $ 116,949 0.9 % $ 113,465 0.9 % $ 173,403 1.3 % $ 196,122 1.5 % $ 144,081 1.1 %

* 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

September 30,

2026 June 30,

2026 March 31,

2026 December 31,

2025 September 30,

2025

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

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

Provision 5,220 4,280 4,954 5,743 31,394

Charge-offs residential mortgage (617) (465) (1,001) (228) (137)

Charge-offs home equity (199) (383) (291) (558) (336)

Charge-offs consumer (3,543) (4,121) (4,531) (4,139) (3,994)

Charge-offs commercial real estate (1,694) (889) (254) (9,765) (4,312)

Charge-offs commercial and industrial (1,565) (945) (1,155) (532) (2,395)

Recoveries 2,703 1,799 2,111 2,295 1,988

Ending balance $ 149,626 149,321 150,045 150,212 157,396

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

Nine months ended September 30,

2026 2025

Beginning balance $ 150,212 116,819

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

Provision 14,454 51,106

Charge-offs residential mortgage (2,083) (998)

Charge-offs home equity (873) (1,022)

Charge-offs consumer (12,195) (11,130)

Charge-offs commercial real estate (2,837) (4,721)

Charge-offs commercial and industrial (3,665) (6,563)

Recoveries 6,613 7,876

Ending balance $ 149,626 157,396

Net charge-offs to average loans, annualized 0.15 % 0.19 %

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

September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 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 $ 3,003,745 30,494 4.06 % $ 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 %

Home equity loans 1,490,806 22,127 5.89 % 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 %

Consumer loans 2,798,690 38,147 5.41 % 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 %

Commercial real estate loans 3,028,012 47,304 6.11 % 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 %

Commercial and industrial loans 2,981,025 49,361 6.48 % 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 %

Total loans receivable (a) (b) (d) 13,302,278 187,433 5.59 % 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 %

Mortgage-backed securities (c) 2,301,769 19,001 3.30 % 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 %

Investment securities (c) (d) 303,130 2,741 3.62 % 299,068 2,652 3.55 % 317,996 2,566 3.23 % 309,147 2,339 3.03 % 301,719 2,153 2.85 %

FHLB stock, at cost 44,956 1,061 9.36 % 34,416 738 8.60 % 36,220 768 8.59 % 32,876 701 8.46 % 30,434 652 8.51 %

Other interest-earning deposits 93,723 775 3.24 % 141,898 1,436 4.00 % 139,970 871 2.49 % 170,370 1,905 4.37 % 164,131 1,700 4.05 %

Total interest-earning assets 16,045,856 211,011 5.22 % 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 %

Noninterest-earning assets (e) 1,076,642 1,061,487 1,105,758 1,107,042 1,067,450

Total assets $ 17,122,498 $ 16,863,639 $ 16,832,777 $ 16,494,008 $ 15,942,440

Liabilities and shareholders’ equity:

Interest-bearing liabilities:

Savings deposits $ 2,447,880 6,918 1.12 % $ 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 %

Interest-bearing demand deposit 2,960,536 8,505 1.14 % 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 %

Money market deposit accounts 2,802,942 13,828 1.96 % 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 %

Time deposits 2,799,072 22,047 3.12 % 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 %

Total interest-bearing deposits (g) 11,010,430 51,298 1.85 % 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 %

Borrowed funds (f) 617,533 6,128 3.94 % 379,262 3,740 3.96 % 404,547 3,875 3.88 % 354,894 3,425 3.83 % 347,357 3,366 3.84 %

Subordinated debt 94,835 1,862 7.68 % 114,800 2,200 7.58 % 114,800 2,204 7.68 % 114,800 2,285 7.79 % 114,745 1,335 4.65 %

Junior subordinated debentures 130,245 1,933 5.81 % 130,181 1,878 5.70 % 130,121 1,906 5.86 % 130,051 2,002 6.02 % 129,986 2,123 6.39 %

Total interest-bearing liabilities 11,853,043 61,221 2.05 % 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 %

Noninterest-bearing demand deposits (g) 3,129,524 3,101,574 3,074,939 3,105,108 2,959,871

Noninterest-bearing liabilities 208,586 187,436 248,832 252,960 244,306

Total liabilities 15,191,153 14,945,504 14,945,035 14,623,920 14,133,045

Shareholders’ equity 1,931,345 1,918,135 1,887,742 1,870,088 1,809,395

Total liabilities and shareholders’ equity $ 17,122,498 $ 16,863,639 $ 16,832,777 $ 16,494,008 $ 15,942,440

Net interest income/Interest rate spread FTE 149,790 3.17 % 147,773 3.23 % 143,348 3.16 % 143,201 3.12 % 136,944 3.09 %

Net interest-earning assets/Net interest margin FTE $ 4,192,813 3.70 % $ 4,145,658 3.75 % $ 4,105,755 3.70 % $ 4,121,114 3.69 % $ 3,946,122 3.65 %

Tax equivalent adjustment (d) 840 835 866 1,035 970

Net interest income, GAAP basis 148,950 146,938 142,482 142,166 135,974

Ratio of interest-earning assets to interest-bearing liabilities 1.35X 1.36X 1.35X 1.37X 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 1.44%, 1.43%, 1.48%, 1.53%, 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.

Nine months ended September 30,

2026 2025

Average

balance Interest Avg.

yield/cost Average

balance Interest Avg.

yield/cost

Assets

Interest-earning assets:

Residential mortgage loans $ 3,037,212 91,308 4.01 % $ 3,135,705 91,758 3.90 %

Home equity loans 1,495,315 65,437 5.85 % 1,236,733 53,509 5.78 %

Consumer loans 2,663,316 108,481 5.45 % 2,118,568 87,650 5.53 %

Commercial real estate loans 3,166,082 147,933 6.16 % 3,033,193 151,726 6.60 %

Commercial loans 2,798,992 138,610 6.53 % 2,145,555 114,818 7.06 %

Loans receivable (a) (b) (d) 13,160,917 551,769 5.61 % 11,669,754 499,461 5.72 %

Mortgage-backed securities (c) 2,228,326 54,024 3.23 % 1,791,479 36,552 2.72 %

Investment securities (c) (d) 306,677 7,960 3.46 % 277,338 5,420 2.61 %

FHLB stock, at cost 38,563 2,567 8.90 % 23,080 1,336 7.74 %

Other interest-earning deposits 125,197 3,082 3.25 % 209,320 6,789 4.28 %

Total interest-earning assets 15,859,680 619,402 5.22 % 13,970,971 549,558 5.26 %

Noninterest-earning assets (e) 1,081,020 972,376

Total assets $ 16,940,700 $ 14,943,347

Liabilities and shareholders’ equity

Interest-bearing liabilities:

Savings deposits $ 2,430,620 19,521 1.07 % $ 2,250,418 19,653 1.17 %

Interest-bearing demand deposits 2,977,822 25,667 1.15 % 2,662,521 22,513 1.13 %

Money market deposit accounts 2,714,331 38,680 1.91 % 2,200,063 30,748 1.87 %

Time deposits 2,882,195 68,897 3.20 % 2,683,081 73,117 3.64 %

Total interest-bearing deposits (g) 11,004,968 152,765 1.86 % 9,796,083 146,031 1.99 %

Borrowed funds (f) 467,894 13,744 3.93 % 260,392 7,618 3.91 %

Subordinated debt 108,072 6,266 7.65 % 114,661 3,631 4.22 %

Junior subordinated debentures 130,183 5,716 5.79 % 129,922 6,327 6.42 %

Total interest-bearing liabilities 11,711,117 178,491 2.04 % 10,301,058 163,607 2.12 %

Noninterest-bearing demand deposits (g) 3,102,212 2,721,350

Noninterest-bearing liabilities 214,804 232,909

Total liabilities 15,028,133 13,255,317

Shareholders’ equity 1,912,567 1,688,030

Total liabilities and shareholders’ equity $ 16,940,700 $ 14,943,347

Net interest income/Interest rate spread 440,911 3.18 % 385,951 3.14 %

Net interest-earning assets/Net interest margin $ 4,148,563 3.72 % $ 3,669,913 3.69 %

Tax equivalent adjustment (d) 2,541 2,715

Net interest income, GAAP basis 438,370 383,236

Ratio of interest-earning assets to interest-bearing liabilities 1.35X 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 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 1.56%, respectively.

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