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Jun 30, 2023
Northwest Bancshares Q2 2023 Earnings Report
Announced second quarter 2023 earnings and quarterly dividend.
Key Takeaways
Northwest Bancshares reported net income of $33.0 million, or $0.26 per diluted share, for the quarter ended June 30, 2023. This represents a slight decrease of $382,000, or 1.1%, compared to the same quarter last year.
Net income for the quarter ended June 30, 2023 was $33.0 million, or $0.26 per diluted share.
Commercial loans have grown $416.9 million, or 42.2%, over the past year due to new commercial lending verticals.
Net interest income increased by $8.3 million, or 8.3%, to $108.5 million for the quarter ended June 30, 2023, from $100.3 million for the quarter ended June 30, 2022.
Classified loans decreased by $63.3 million, or 22.8%, to $214.1 million at June 30, 2023 from $277.4 million at June 30, 2022.
Northwest Bancshares
Northwest Bancshares
Northwest Bancshares Revenue by Geographic Location
Revenue by Geographic Location
Pennsylvania Revenue
CapyFin.comNew York Revenue
CapyFin.comOhio Revenue
CapyFin.comIndiana Revenue
CapyFin.com Forward Guidance
We expect some additional net interest margin compression could continue for the remainder of the year.