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Dec 31, 2024
Northwest Bancshares Q4 2024 Earnings Report
Reported a net income of $33 million and EPS of $0.26, driven by strategic growth and transformation.
Key Takeaways
Northwest Bancshares reported a net income of $33 million, or $0.26 per diluted share, for Q4 2024. The results reflect an increase compared to the same quarter last year. The company's net interest margin expanded, and the efficiency ratio improved.
Net income for Q4 2024 was $33 million, or $0.26 per diluted share.
Adjusted net income (non-GAAP) was $35 million, or $0.27 per diluted share.
Net interest margin expanded 9 basis points to 3.42%, inclusive of 6bps from an interest recovery.
Efficiency ratio improved to 61.8%.
Revenue by Segment
Forward Guidance
The company's focus on commercial banking and deposit growth has delivered an increase in average C&I loans and sustainable deposit generation while maintaining a stable cost of funds. Northwest has entered 2025 with significant momentum driven by improvements in net interest margin and efficiency ratio.
Positive Outlook
- Strategic growth and transformation focus driving results.
- Increase in average C&I loans.
- Sustainable deposit generation.
- Stable cost of funds.
- Improvements in net interest margin and efficiency ratio.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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