Trade Northwest Bancshares Inc - NWBI CFD

Northwest Bancshares Company profile

About Northwest Bancshares, Inc.

Northwest Bancshares, Inc. is a bank holding company of Northwest Bank (the Bank). The Bank is a Pennsylvania-chartered stock savings bank. The Bank is a community-oriented financial institution offering personal and business banking solutions, investment management and trust services. Its principal lending activities include origination of loans secured by first mortgages on owner-occupied, one-to-four-family residences, shorter term consumer loans, and commercial business and commercial real estate loans. Its principal sources of funds are personal and business deposits, borrowed funds and the principal and interest payments on loans and marketable securities. The Bank has approximately 170 community-banking locations throughout its market area in Pennsylvania, western New York, eastern Ohio, and Indiana.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Northwest Bancshares, Inc. interest income decreased 4% to $418.5M. Net interest income after loan loss provision increased 31% to $403.1M. Net income increased from $74.9M to $154.3M. Net interest income after loan loss provision reflects Mortgage-backed securities increase of 23% to $21.5M, Taxable investment securities increase of 32% to $2.6M.

Equity composition

Common Stock $.01 Par, 02/11, 500M auth., 109,151,550 issd. Insiders & Strategic holders own 2.24%. Stock Conversion 11/94 (from mutual savings to stock savings), 3.45M @ $20.00 by Ryan Beck & Company. 11/97, 5/96, 2-for-1 stock splits. 12/09, 2.25-for-1 Share Conversion.