COLUMBUS, Ohio — Northwest Bancshares Inc., (the “Company”), (NasdaqGS: NWBI) announced net income for the quarter ended June 30, 2023 of $33.0 million, or $0.26 per diluted share. This represents a decrease of $382,000, or 1.1%, compared to the same quarter last year, when net income was $33.4 million, or $0.26 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended June 30, 2023 were 8.72% and 0.93% compared to 8.90% and 0.94% for the same quarter last year.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share payable on August 14, 2023 to shareholders of record as of August 3, 2023. This is the 115th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of June 30, 2023, this represents an annualized dividend yield of approximately 7.5%.