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Jun 30, 2024
Northwest Bancshares Q2 2024 Earnings Report
Announced second quarter 2024 results with net income of $5 million and adjusted net operating income of $35 million, balance sheet restructure was successfully completed and net interest margin expanded to 3.20%.
Key Takeaways
Northwest Bancshares reported a net income of $5 million, or $0.04 per diluted share, for the second quarter of 2024. The company's adjusted net operating income was $35 million, or $0.27 per diluted share. The net interest margin expanded 10 basis points to 3.20%.
Net income for Q2 2024 was $5 million, or $0.04 per diluted share.
Adjusted net operating income for Q2 2024 was $35 million, or $0.27 per diluted share.
Net interest margin expanded 10 basis points to 3.20%.
A quarterly cash dividend of $0.20 per share was declared.
Revenue by Segment
Forward Guidance
The 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 inflation and 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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