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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.
Northwest Bancshares
Northwest Bancshares
Northwest Bancshares Revenue by Segment
Revenue by Segment
Loans Receivable Revenue
CapyFin.comMortgage-Backed Securities Revenue
CapyFin.comTaxable Investment Securities Revenue
CapyFin.comTax-Free Investment Securities Revenue
CapyFin.comFHLB Dividends Revenue
CapyFin.comInterest-Earning Deposits Revenue
CapyFin.comGain on Sale of SBA Loans Revenue
CapyFin.comService Charges and Fees Revenue
CapyFin.comTrust and Other Financial Services Income Revenue
CapyFin.comGain on Real Estate Owned, Net Revenue
CapyFin.comIncome from Bank-Owned Life Insurance Revenue
CapyFin.comMortgage Banking Income Revenue
CapyFin.comOther Operating Income Revenue
CapyFin.com 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