Northwest Bancshares reports Q1 non-GAAP EPS 35c, consensus 24c

Reports Q1 net interest margin 3.87 % vs. 3.42 % in the prior quarter and 3.10% last year. Tangible book value per share was $9.75 from $9.51 at previous quarter end. CEO Louis Torchio commented, “Our strong performance, with record earnings for a Q1 and one of the best quarters in Northwest’s history, is a result of the Northwest team’s continued rigorous focus on execution, and cost control and risk management discipline. We continue to enhance our capabilities, expand our footprint, and provide personalized services and expertise to our consumers, companies, and the communities we serve. Despite the unpredictable operating environment, I remain confident and excited about Northwest’s prospects for the year ahead. We continue to focus on managing the factors within our control, such as serving our core customers and communities, building on our strong and stable financial foundations, maintaining prudent cost control and risk management discipline, and executing to plan on our financial close and systems conversion for the Penns Woods acquisition by late July 2025. We are well prepared to capitalize on opportunities aligned with our strategy for sustainable, responsible, and profitable growth, when and where they arise in the coming months.”