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Jun 30, 2021
Northwest Bancshares Q2 2021 Earnings Report
Announced second quarter 2021 earnings and quarterly dividend.
Key Takeaways
Northwest Bancshares, Inc. reported a net income of $49.0 million, or $0.38 per diluted share, for the quarter ended June 30, 2021. This represents an increase of $55.2 million compared to the same quarter last year. The company's current period earnings were enhanced by a $25.3 million pre-tax gain from the sale of its insurance business.
Net income for the quarter ended June 30, 2021 was $49.0 million, or $0.38 per diluted share.
The annualized returns on average shareholders’ equity and average assets for the quarter ended June 30, 2021 were 12.58% and 1.37%.
The Company's current period earnings were enhanced by a $25.3 million pre-tax gain from the sale of its insurance business.
A quarterly cash dividend of $0.20 per share was declared, payable on August 16, 2021.
Forward Guidance
This release may contain forward-looking statements with respect to the financial condition and results of operations of Northwest Bancshares, Inc. including, without limitations, statements relating to the earnings outlook of the Company.
Challenges Ahead
- changes in the interest rate environment
- competitive pressure among financial services companies
- general economic conditions including an increase in non-performing loans
- changes in legislation or regulatory requirements
- difficulties in continuing to improve operating efficiencies
Historical Earnings Impact
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Avg. Return Before/After Earnings
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