What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-08-05 compared with 2025-05-06 · 332 added, 115 removed, 1195 unchanged (27% of the section changed)

4 unchanged sentences

(in thousands, except share data)

March 31, 2025 December 31, 2024

June 30, 2025 December 31, 2024

Cash and cash equivalents $ 267,075 288,378

42 unchanged sentences

See accompanying notes to unaudited Consolidated Financial Statements.

Table of Content s

NORTHWEST BANCSHARES, INC.

2 unchanged sentences

(in thousands, except share data)

Quarter ended March 31,

Quarter ended June 30, Six months ended June 30,

2025 2024 2025 2024

Interest income:

19 unchanged sentences

Noninterest income:

Loss on sale of investments — ( 39,413 ) — ( 39,413 )

Gain on sale of SBA loans 819 1,457 2,057 2,330

26 unchanged sentences

See accompanying notes to unaudited Consolidated Financial Statements.

Table of Content s

NORTHWEST BANCSHARES, INC.

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (Unaudited)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

(in thousands)

Quarter ended March 31,

Quarter ended June 30, Six months ended June 30,

2025 2024 2025 2024

Net income $ 33,675 4,747 77,133 33,910

Other comprehensive income/(loss) net of tax:

Other comprehensive income net of tax:

Net unrealized holding gains/(losses) on marketable securities:

1 unchanged sentence

3,425 ( 3,391 ) 17,288 ( 9,089 )

Reclassification adjustment for losses included in net income, net of tax of $ 0 , ($ 7,706 ), $ 0 , and ($ 7,706 ) respectively

1 26,789 1 26,789

Net unrealized holding gains/(losses) on marketable securities 3,426 23,398 17,289 17,700

4 unchanged sentences

( 169 ) ( 388 ) ( 338 ) ( 776 )

Other comprehensive income/(loss) 12,433 ( 3,932 )

Other comprehensive income 2,607 23,340 15,040 19,408

Total comprehensive income $ 36,282 28,087 92,173 53,318

See accompanying notes to unaudited Consolidated Financial Statements.

Table of Content s

NORTHWEST BANCSHARES, INC.

4 unchanged sentences

other comprehensive income/(loss) Total shareholders’ equity

Quarter ended March 31, 2025 Shares Amount

Beginning balance at December 31, 2024 127,508,003 $ 1,275 1,033,385 673,110 ( 110,914 ) 1,596,856

Quarter ended June 30, 2025 Shares Amount

Beginning balance at March 31, 2025 127,736,303 $ 1,277 1,035,093 691,066 ( 98,481 ) 1,628,955

Comprehensive income:

5 unchanged sentences

Stock-based compensation expense 65,654 1 1,967 — — 1,968

Stock-based compensation forfeited ( 761 ) — — — — —

Common shares returned (1) ( 21,711 ) — — — — —

Dividends paid ($ 0.20 per share)

— — — ( 25,692 ) — ( 25,692 )

Ending balance at March 31, 2025 127,736,303 $ 1,277 1,035,093 691,066 ( 98,481 ) 1,628,955

Ending balance at June 30, 2025 127,842,403 $ 1,278 1,037,615 699,049 ( 95,874 ) 1,642,068

(1) includes shares withheld for taxes and forfeitures

Additional paid-in capital Retained earnings Accumulated

other comprehensive loss Total shareholders’ equity

Quarter ended March 31, 2024 Shares Amount

Beginning balance at December 31, 2023 127,110,453 $ 1,271 1,024,852 674,686 ( 149,492 ) 1,551,317

Quarter ended June 30, 2024 Shares Amount

Beginning balance at March 31, 2024 127,253,189 $ 1,273 1,026,173 678,427 ( 153,424 ) 1,552,449

Comprehensive income:

2 unchanged sentences

— — — — 23,340 23,340

Total comprehensive income/(loss) — — — 29,163 ( 3,932 ) 25,231

Total comprehensive income — — — 4,747 23,340 28,087

Exercise of stock options 6,382 — 61 — — 61

3 unchanged sentences

— — — ( 25,468 ) — ( 25,468 )

Ending balance at March 31, 2024 127,253,189 $ 1,273 1,026,173 678,427 ( 153,424 ) 1,552,449

Ending balance at June 30, 2024 127,307,997 $ 1,273 1,027,703 657,706 ( 130,084 ) 1,556,598

See accompanying notes to unaudited Consolidated Financial Statements.

Table of Content s

NORTHWEST BANCSHARES, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited)

(in thousands, expect share data)

Additional paid-in capital Retained earnings Accumulated

other comprehensive income/(loss) Total shareholders’ equity

Six months ended June 30, 2025 Shares Amount

Beginning balance at December 31, 2024 127,508,003 $ 1,275 1,033,385 673,110 ( 110,914 ) 1,596,856

Comprehensive income:

Net income — — — 77,133 — 77,133

Other comprehensive income, net of tax of ($ 4,911 )

— — — — 15,040 15,040

Total comprehensive income — — — 77,133 15,040 92,173

Exercise of stock options 65,134 — 586 — — 586

Stock-based compensation expense 291,738 3 3,644 — — 3,647

Common shares returned (1) ( 22,472 ) — — — — —

Dividends paid ($ 0.40 per share)

— — — ( 51,194 ) — ( 51,194 )

Ending balance at June 30, 2025 127,842,403 $ 1,278 1,037,615 699,049 ( 95,874 ) 1,642,068

(1) includes shares withheld for taxes and forfeitures

Additional paid-in capital Retained earnings Accumulated

other comprehensive income/(loss) Total shareholders’ equity

Six months ended June 30, 2024 Shares Amount

Beginning balance at December 31, 2023 127,110,453 $ 1,271 1,024,852 674,686 ( 149,492 ) 1,551,317

Comprehensive income:

Net income — — — 33,910 — 33,910

Other comprehensive income, net of tax of ($ 6,212 )

— — — — 19,408 19,408

Total comprehensive income — — — 33,910 19,408 53,318

Exercise of stock options 6,392 — 81 — — 81

Stock-based compensation expense 203,978 2 2,770 — — 2,772

Stock-based compensation forfeited ( 12,826 ) — — — — —

Dividends paid ($ 0.40 per share)

— — — ( 50,890 ) — ( 50,890 )

Ending balance at June 30, 2024 127,307,997 $ 1,273 1,027,703 657,706 ( 130,084 ) 1,556,598

See accompanying notes to unaudited Consolidated Financial Statements.

Table of Content s

NORTHWEST BANCSHARES, INC.

AND SUBSIDIARIES

1 unchanged sentence

(in thousands)

Three months ended March 31,

Six months ended June 30,

Operating activities:

2 unchanged sentences

Provision for credit losses 16,655 3,065

Net loss on sale of assets ( 101 ) ( 6,023 )

Loss on sale of investments — 39,413

Net gain/loss on sale of assets 206 ( 5,468 )

Mortgage banking activity ( 1,771 ) ( 1,625 )

2 unchanged sentences

Decrease in other assets 34,462 9,938

Decrease in other liabilities ( 16,895 ) ( 2,427 )

Decrease/(increase) in other liabilities ( 28,552 ) 8,375

Net amortization on marketable securities ( 66 ) 852

1 unchanged sentence

Noncash write-down of other assets 315 5,795

Deferred income tax expense ( 860 ) 2,907

Origination of loans held-for-sale ( 81,769 ) ( 99,421 )

5 unchanged sentences

Proceeds from maturities and principal reductions of marketable securities available-for-sale 49,644 40,455

Proceeds from sale of marketable securities available-for-sale — 275,585

Proceeds from bank-owned life insurance 111 874

Loan originations ( 1,969,106 ) ( 1,969,342 )

Proceeds from loan maturities and principal reductions 1,866,780 2,020,162

Net proceeds/(redemptions) of FHLB stock 3,065 ( 665 )

Net proceeds of FHLB stock 3,197 9,304

Proceeds from sale of real estate owned 410 638

3 unchanged sentences

Net increase in deposits 56,475 107,477

Net (decrease)/increase in short-term borrowings ( 3,061 ) 1,888

Net decrease in short-term borrowings ( 2,323 ) ( 156,532 )

Increase in advances by borrowers for taxes and insurance 5,823 7,018

2 unchanged sentences

Net cash provided by financing activities 9,367 ( 92,846 )

Net increase/(decrease) in cash and cash equivalents $ 64,825 ( 2,941 )

Net (decrease)/increase in cash and cash equivalents $ ( 21,303 ) 106,173

Cash and cash equivalents at beginning of period $ 288,378 122,260

Net increase/(decrease) in cash and cash equivalents 64,825 ( 2,941 )

Net (decrease)/increase in cash and cash equivalents ( 21,303 ) 106,173

Cash and cash equivalents at end of period $ 267,075 228,433

6 unchanged sentences

See accompanying notes to unaudited Consolidated Financial Statements.

Table of Content s

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

1 unchanged sentence

Northwest Bancshares, Inc.

(the “Company” or “Northwest”), a Maryland corporation headquartered in Columbus, Ohio, is a bank holding company regulated by the Board of Governors of the Federal Reserve Board (“FRB”).

(the “Company” or “Northwest”), a Maryland corporation headquartered in Columbus, Ohio, is a bank holding company regulated by the Board of Governors of the Federal Reserve Board (“Federal Reserve Board”).

The primary activity of the Company is the ownership of all of the issued and outstanding common stock of Northwest Bank, a Pennsylvania-chartered savings bank (“Northwest Bank”).

7 unchanged sentences

Certain items previously reported have been reclassified to conform to the current year’s reporting format.

The results of operations for the quarter ended March 31, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025, or any other period.

The results of operations for the quarter ended June 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025, or any other period.

(2) Marketable Securities

The following table shows the portfolio of marketable securities available-for-sale at March 31, 2025 (in thousands):

The following table shows the portfolio of marketable securities available-for-sale at June 30, 2025 (in thousands):

Debt issued by the U.S government and agencies:

9 unchanged sentences

Due after five years through ten years 22,049 873 — 22,922

Due after ten years 3,000 5 — 3,005

Mortgage-backed securities:

5 unchanged sentences

Total marketable securities available-for-sale $ 1,341,651 4,608 ( 151,376 ) 1,194,883

Table of Content s

The following table shows the portfolio of marketable securities available-for-sale at December 31, 2024 (in thousands):

18 unchanged sentences

Total marketable securities available-for-sale $ 1,278,665 1,197 ( 170,918 ) 1,108,944

The following table shows the portfolio of marketable securities held-to-maturity at March 31, 2025 (in thousands):

The following table shows the portfolio of marketable securities held-to-maturity at June 30, 2025 (in thousands):

Debt issued by government-sponsored enterprises:

8 unchanged sentences

Total marketable securities held-to-maturity $ 719,561 3 ( 90,628 ) 628,936

Table of Content s

The following table shows the portfolio of marketable securities held-to-maturity at December 31, 2024 (in thousands):

8 unchanged sentences

Total marketable securities held-to-maturity $ 750,586 1 ( 112,639 ) 637,948

The following table shows the contractual maturity of our mortgage-backed securities available-for-sale at March 31, 2025 (in thousands):

The following table shows the contractual maturity of our mortgage-backed securities available-for-sale at June 30, 2025 (in thousands):

Mortgage-backed securities:

4 unchanged sentences

Total mortgage-backed securities $ 1,199,472 1,071,192

The following table shows the contractual maturity of our mortgage-backed securities held-to-maturity at March 31, 2025 (in thousands):

The following table shows the contractual maturity of our mortgage-backed securities held-to-maturity at June 30, 2025 (in thousands):

Mortgage-backed securities:

Due within one year $ 1 1

Due after one year through five years 19,902 18,519

2 unchanged sentences

Total mortgage-backed securities $ 595,098 515,069

The following table shows the fair value of and gross unrealized losses on available-for-sale investment securities and held to maturity investment securities, for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2025 (in thousands):

Less than 12 months 12 months or more Total

7 unchanged sentences

Total $ 127,635 ( 1,436 ) 1,305,350 ( 240,568 ) 1,432,985 ( 242,004 )

Table of Content s

8 unchanged sentences

Total $ 313,235 ( 3,764 ) 1,310,418 ( 279,793 ) 1,623,653 ( 283,557 )

The Company does not believe that the available-for-sale debt securities that were in an unrealized loss position as of March 31, 2025, which were comprised of 328 individual securities, represent a credit loss impairment.

The Company does not believe that the available-for-sale debt securities that were in an unrealized loss position as of June 30, 2025, which were comprised of 319 individual securities, represent a credit loss impairment.

All of these securities were issued by U.S.

7 unchanged sentences

The unrealized losses were primarily attributable to changes in the interest rate environment and not due to the credit quality of these investment securities.

As of March 31, 2025, t he Company does not have the intent to sell these investment securities and it is more likely than not that we will not be required to sell these securities before their anticipated recovery, which may be at maturity.

As of June 30, 2025, t he Company does not have the intent to sell these investment securities and it is more likely than not that we will not be required to sell these securities before their anticipated recovery, which may be at maturity.

All of the Company ’ s held-to-maturity debt securities are issued by U.S.

3 unchanged sentences

government, are highly rated by major rating agencies and have a long history of no credit losses.

The decline in fair value of the held-to-maturity debt securities were primarily attributable to changes in the interest rate environment and not due to the credit quality of these investment securities, therefore, the Company did not record an allowance for credit losses for these securities as of March 31, 2025.

The following table presents the credit quality of our held-to-maturity securities, based on the latest information available as of March 31, 2025 (in thousands).

The following table presents the credit quality of our held-to-maturity securities, based on the latest information available as of June 30, 2025 (in thousands).

The credit ratings are sourced from nationally recognized rating agencies, which include Moody’s and S&P, and they are presented based on asset type.

All of our held-to-maturity securities were current in their payment of principal and interest as of March 31, 2025.

All of our held-to-maturity securities were current in their payment of principal and interest as of June 30, 2025.

Held-to-maturity securities (at amortized cost):

3 unchanged sentences

Total marketable securities held-to-maturity $ 719,561 719,561

Table of Content s

(3) Loans Receivable

The following tables excludes loans held for sale.

The following table shows a summary of our loans receivable at amortized cost basis at March 31, 2025 and December 31, 2024 (in thousands):

March 31, 2025 December 31, 2024

The following table shows a summary of our loans receivable at amortized cost basis at June 30, 2025 and December 31, 2024 (in thousands):

June 30, 2025 December 31, 2024

Personal Banking:

12 unchanged sentences

Total loans receivable, net (1) 11,212,665 11,063,195

(1) Includes $ 63 million and $ 60 million of net unearned income, unamortized premiums and discounts and deferred fees and costs at March 31, 2025 and December 31, 2024, respectively.

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended March 31, 2025 (in thousands):

Balance as of March 31, 2025 Current period provision Charge-offs Recoveries Balance as of December 31, 2024

(1) Includes $ 68 million and $ 60 million of net unearned income, unamortized premiums and discounts and deferred fees and costs at June 30, 2025 and December 31, 2024, respectively.

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended June 30, 2025 (in thousands):

Balance as of June 30, 2025 Current period provision Charge-offs Recoveries Balance as of March 31, 2025

Allowance for Credit Losses

21 unchanged sentences

Total off-balance sheet exposure $ 10,892 ( 2,712 ) — — 13,604

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended March 31, 2024 (in thousands):

Balance as of March 31, 2024 Current period provision Charge-offs Recoveries Balance as of December 31, 2023

Table of Content s

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended June 30, 2024 (in thousands):

Balance as of June 30, 2024 Current period provision Charge-offs Recoveries Balance as of March 31, 2024

Allowance for Credit Losses

22 unchanged sentences

Total off-balance sheet exposure $ 13,785 ( 2,539 ) — — 16,324

The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at March 31, 2025 (in thousands):

Table of Content s

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the six months ended June 30, 2025 (in thousands):

Balance as of

2025 Current period provision Charge-offs Recoveries Balance as of December 31, 2024

Allowance for Credit Losses

Personal Banking:

Residential mortgage loans $ 12,089 ( 1,672 ) ( 861 ) 275 14,347

Home equity loans 4,216 ( 378 ) ( 686 ) 435 4,845

Vehicle loans 21,234 2,263 ( 4,451 ) 1,033 22,389

Consumer loans 2,266 2,289 ( 2,685 ) 779 1,883

Total Personal Banking 39,805 2,502 ( 8,683 ) 2,522 43,464

Commercial Banking:

Commercial real estate loans 53,624 7,281 ( 409 ) 2,424 44,328

Commercial real estate loans - owner occupied 4,130 168 — 80 3,882

Commercial loans 31,600 9,761 ( 4,168 ) 862 25,145

Total Commercial Banking 89,354 17,210 ( 4,577 ) 3,366 73,355

Total $ 129,159 19,712 ( 13,260 ) 5,888 116,819

Allowance for Credit Losses - off-balance sheet exposure

Personal Banking:

Home equity loans 65 3 — — 62

Total Personal Banking 65 3 — — 62

Commercial Banking:

Commercial real estate loans 1,897 ( 2,257 ) — — 4,154

Commercial real estate loans - owner occupied 260 100 — — 160

Commercial loans 8,670 ( 903 ) — — 9,573

Total Commercial Banking 10,827 ( 3,060 ) — — 13,887

Total off-balance sheet exposure $ 10,892 ( 3,057 ) — — 13,949

Table of Content s

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the six months ended June 30, 2024 (in thousands):

Balance as of June 30, 2024 Current period provision Charge-offs Recoveries Balance as of December 31, 2023

Allowance for Credit Losses

Personal Banking:

Residential mortgage loans $ 14,999 ( 3,774 ) ( 414 ) 994 18,193

Home equity loans 5,210 ( 134 ) ( 649 ) 590 5,403

Vehicle loans 21,364 ( 1,927 ) ( 4,514 ) 894 26,911

Consumer loans 1,668 2,283 ( 2,620 ) 806 1,199

Total Personal Banking 43,241 ( 3,552 ) ( 8,197 ) 3,284 51,706

Commercial Banking:

Commercial real estate loans 50,559 ( 712 ) ( 849 ) 853 51,267

Commercial real estate loans - owner occupied 3,615 ( 181 ) — 21 3,775

Commercial loans 27,655 10,848 ( 2,482 ) 794 18,495

Total Commercial Banking 81,829 9,955 ( 3,331 ) 1,668 73,537

Total $ 125,070 6,403 ( 11,528 ) 4,952 125,243

Allowance for Credit Losses - off-balance sheet exposure

Personal Banking:

Residential mortgage loans $ 1 ( 1 ) — — 2

Home equity loans 63 ( 2 ) — — 65

Total Personal Banking 64 ( 3 ) — — 67

Commercial Banking:

Commercial real estate loans 4,450 ( 1,697 ) — — 6,147

Commercial real estate loans - owner occupied 151 ( 22 ) — — 173

Commercial loans 9,120 ( 1,616 ) — — 10,736

Total Commercial Banking 13,721 ( 3,335 ) — — 17,056

Total off-balance sheet exposure $ 13,785 ( 3,338 ) — — 17,123

The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at June 30, 2025 (in thousands):

receivable Allowance for

13 unchanged sentences

Total $ 11,341,824 129,159 102,394 493

Table of Content s

The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at December 31, 2024 (in thousands):

15 unchanged sentences

We present the amortized cost of our loans on nonaccrual status including such loans with no allowance.

The following table presents the amortized cost of our loans on nonaccrual status as of the beginning and end of the period ended March 31, 2025 (in thousands):

March 31, 2025

Nonaccrual loans at January 1, 2025 Nonaccrual loans with an allowance Nonaccrual loans with no allowance Total nonaccrual loans at the end of the period

The following table presents the amortized cost of our loans on nonaccrual status as of the beginning and end of the period ended June 30, 2025 (in thousands):

June 30, 2025

Nonaccrual loans at December 31, 2024 Nonaccrual loans with an allowance Nonaccrual loans with no allowance Total nonaccrual loans at the end of the period

Personal Banking:

10 unchanged sentences

Total $ 61,401 89,748 12,646 102,394

During the three months ended March 31, 2025, we d id no t recognize any interest income on nonaccrual loans.

During the three and six months ended June 30, 2025, we d id no t recognize any interest income on nonaccrual loans.

Table of Content s

The following table presents the amortized cost of our loans on nonaccrual status as of the beginning and end of the year ended December 31, 2024 (in thousands):

December 31, 2024

Nonaccrual loans at January 1, 2024 Nonaccrual loans with an allowance Nonaccrual loans with no allowance Total nonaccrual loans at the end of the period

Nonaccrual loans at December 31, 2023 Nonaccrual loans with an allowance Nonaccrual loans with no allowance Total nonaccrual loans at the end of the period

Personal Banking:

12 unchanged sentences

A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral.

The following table presents the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of as of March 31, 2025 (in thousands):

The following table presents the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of as of June 30, 2025 (in thousands):

Real estate Equipment Other Total

19 unchanged sentences

a term extension, principal forgiveness, an other-than-insignificant payment delay, and/or an interest rate reduction.

Table of Content s

The following table presents the amortized cost basis of loans for the periods indicated that were both experiencing financial difficulty and modified during the respective period, by class and by type of modification.

The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below (dollars in thousands).

For the quarter ended March 31,

Payment delay Term extension Combination term extension and interest rate reduction Total class of financing receivable Payment delay Term extension Combination term extension and interest rate reduction Total class of financing receivable

For the quarter ended June 30,

Payment delay Term extension Combination term extension and interest rate reduction Total class of financing receivable Term extension Interest rate reduction Total class of financing receivable

Personal Banking:

1 unchanged sentence

Home equity loans — — — 0.00 % 42 — — %

Total Personal Banking — 276 — 0.00 % 57 — 0.00 %

Commercial Banking:

Commercial real estate loans 43 3,183 91 0.14 % — — — %

Commercial real estate loans - owner occupied — 3,542 — 0.97 % — 697 0.19 %

Total Commercial Banking 43 6,725 91 0.14 % — 697 0.01 %

Total $ 43 $ 7,001 91 0.06 % 57 697 0.01 %

For the six months ended June 30,

Payment delay Term extension Combination term extension and interest rate reduction Total class of financing receivable Payment delay Term extension Interest rate reduction Combination term extension and interest rate reduction Total class of financing receivable

Personal Banking:

Residential mortgage loans

$ — 305 — 0.01 % — 497 — — 0.01 %

Home equity loans — 78 — 0.01 % — 551 — 84 0.05 %

Consumer loans

3 unchanged sentences

Commercial real estate loans 70 5,831 91 0.25 % 29,764 210 — — 1.12 %

Commercial real estate loans - owner occupied — 3,542 — 0.97 % — — 697 — 0.19 %

Commercial loans 1,785 8 9 0.08 % — 31 — 9 — %

1 unchanged sentence

Total $ 1,855 9,764 100 0.10 % 29,764 1,289 697 95 0.28 %

Table of Content s

The following table presents the effect of the loan modifications presented above to borrowers experiencing financial difficulty for the periods indicated:

For the quarter ended March 31,

For the quarter ended June 30,

Weighted-average interest rate reduction Weighted-average term extension in months Weighted-average payment deferral in years Weighted-average interest rate reduction Weighted-average term extension in months

Personal Banking:

Residential mortgage loans — % 117 0 — % 220

Home equity loans — % 0 0 — % 73

Total Personal Banking — % 117 0 — % 112

Commercial Banking:

Commercial real estate loans 1 % 11 0.5 — % 0

Commercial real estate loans - owner occupied — % 6 0.0 2 % 0

Total Commercial Banking 1 % 9 0.5 2 % 0

Total loans 1 % 13 0.5 2 % 112

For the six months ended June 30,

6 unchanged sentences

Commercial real estate loans 1 % 8 0.5 — % 117 1

Commercial real estate loans - owner occupied — % 6 0 2 % 0 0

Commercial loans 1 % 85 0.75 4 % 118 0

2 unchanged sentences

The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts.

The following table presents the performance of loans that such loans have been modified within the previous twelve months of March 31, 2025 (in thousands) :

The following table presents the performance of loans that such loans have been modified within the previous twelve months of June 30, 2025 (in thousands) :

Current 30-59 days

12 unchanged sentences

Total loans $ 10,463 106 32 1,911

The following table presents the performance of loans modified within the previous twelve months of of March 31, 2024 (in thousands) :

Table of Content s

The following table presents the performance of loans modified within the previous twelve months of June 30, 2024 (in thousands) :

Current 30-59 days

8 unchanged sentences

Commercial real estate loans 29,974 — — —

Commercial real estate loans - owner occupied 697 — — —

Commercial loans 10 5 — 25

3 unchanged sentences

The following table provides the amortized cost basis of financing receivables that had a payment default during the periods indicated and were modified within the previous twelve months to borrowers experiencing financial difficulty (in thousands):

For the quarter ended March 31,

Term extension Payment delay Term extension Payment delay

For the quarter ended June 30,

Term extension Payment delay Term extension

Personal Banking:

3 unchanged sentences

Commercial Banking:

Commercial real estate loans 1,827 — —

Commercial loans — 1,718 25

Total Commercial Banking — 1,718 25

5 unchanged sentences

Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

The following table provides information related to the amortized cost basis of loan payment delinquencies at March 31, 2025 (in thousands):

Table of Content s

The following table provides information related to the amortized cost basis of loan payment delinquencies at June 30, 2025 (in thousands):

delinquent 60-89 days

49 unchanged sentences

Substandard — Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any.

Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt.

Loans so classified have a well-defined weakness or weaknesses that jeopardize the

Table of Content s

liquidation of the debt.

They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected.

12 unchanged sentences

These loans are generally charged-off in the month in which the 180 day period elapses.

The following table presents the amortized cost basis of our loan portfolio by year of origination and credit quality indicator and the current period charge-offs by year of origination for each portfolio segment as of March 31, 2025 (in thousands):

YTD March 31, 2025 2024 2023 2022 2021 Prior Revolving loans Revolving loans converted to term loans Total loans

Table of Content s

YTD June 30, 2025 2024 2023 2022 2021 Prior Revolving loans Revolving loans converted to term loans Total loans

Personal Banking:

41 unchanged sentences

Total loans $ 1,037,498 1,547,268 1,235,790 1,750,703 1,324,391 3,211,489 1,160,527 74,158 11,341,824

For the three months ended March 31, 2025, $ 5 million of revolving loans were converted to term loans.

For the six months ended June 30, 2025, $ 6 million of revolving loans were converted to term loans.

Table of Content s

The following table presents the amortized cost basis of our loan portfolio by year of origination and credit quality indicator for each portfolio segment as of December 31, 2024 (in thousands):

48 unchanged sentences

For the year ended December 31, 2024, $ 16 million of revolving loans were converted to term loans.

Table of Content s

(4) Goodwill and Other Intangible Assets

The following table provides information for intangible assets subject to amortization at the dates indicated (in thousands):

March 31, 2025 December 31, 2024

June 30, 2025 December 31, 2024

Amortizable intangible assets:

3 unchanged sentences

Total intangible assets - net $ 1,897 2,837

The following table shows the actual aggregate amortization expense for the quarters ended March 31, 2025 and 2024, as well as the estimated aggregate amortization expense, based upon current levels of intangible assets, for the current fiscal year and each of the succeeding fiscal years until the intangible assets are fully amortized (in thousands):

For the quarter ended March 31, 2025 $ 504

For the quarter ended March 31, 2024 701

The following table shows the actual aggregate amortization expense for the quarters ended June 30, 2025 and 2024, as well as the estimated aggregate amortization expense, based upon current levels of intangible assets, for the current fiscal year and each of the succeeding fiscal years until the intangible assets are fully amortized (in thousands):

For the quarter ended June 30, 2025 $ 436

For the quarter ended June 30, 2024 635

For the six months ended June 30, 2025 940

For the six months ended June 30, 2024 1,336

For the year ending December 31, 2025 1,662

3 unchanged sentences

Balance at December 31, 2024 $ 380,997

Balance at March 31, 2025 $ 380,997

Balance at June 30, 2025 $ 380,997

We performed our annual goodwill impairment test as of June 30, 2025 in accordance with Accounting Standards Codification ("ASC") 350, Intangibles - Goodwill and Other, and concluded that goodwill was not impaired.

As of March 31, 2025, there were no events or changes in circumstances that would cause us to update that year’s goodwill impairment test and we concluded there was no impairment of goodwill as of such dates.

(5) Borrowed Funds

(a) Borrowings

Borrowed funds at March 31, 2025 and December 31, 2024 are presented in the following table (dollars in thousands):

March 31, 2025 December 31, 2024

Borrowed funds at June 30, 2025 and December 31, 2024 are presented in the following table (dollars in thousands):

June 30, 2025 December 31, 2024

Amount Average rate Amount Average rate

4 unchanged sentences

Borrowings from the Federal Home Loan Bank (“FHLB”) of Pittsburgh, if any, are secured by our residential first mortgage and other qualifying loans.

At March 31, 2025, the carrying value of these loans was $ 5.7 billion.

Certain of these borrowings are subject to restrictions or penalties in the event of prepayment.

At June 30, 2025, the carrying value of these loans wa s $ 5.6 billion.

Certai n of these borrowings are subject to restrictions or penalties in the event of prepayment.

The revolving line of credit with the FHLB of Pittsburgh carries a commitment of $ 250 million.

The rate is adjusted daily by the FHLB of Pittsburgh, and any borrowings on this line may be repaid at any time without penalty.

There was no balance on the revolving line of credit at March 31, 2025 and December 31, 2024.

At March 31, 2025 and December 31, 2024, collateralized borrowings due within one year were $ 19 million and $ 22 million, respectively.

There was no balance on the revolving line of credit at June 30, 2025 and December 31, 2024.

At June 30, 2025 and December 31, 2024, collateralized borrowings due within one year were $ 23 million and $ 22 million, respectively.

These borrowings are collateralized by cash or va rious securities held in safekeeping by the FHLB.

At March 31, 2025, the carrying value of the cash and securities used as collateral was $ 36 million.

At March 31, 2025 and December 31, 2024, collateral received was $ 4 million and $ 3 million, respectively.

At June 30, 2025, the carrying value of the cash and securities used as collateral was $ 35 million.

At June 30, 2025 and December 31, 2024, collateral received was $ 464 thousand and $ 3 million, respectively.

This represents collateral posted to us from our derivative counterparties.

At March 31, 2025 and December 31, 2024, term notes payable to the FHLB of Pittsburgh due within one year were $ 175 million.

The The March 31, 2025 total is made up of seven advances each for $ 25 million.

Table of Content s

At June 30, 2025 and December 31, 2024, term notes payable to the FHLB of Pittsburgh due within one year were $ 175 million.

The The June 30, 2025 total is made up of seven advances each for $ 25 million.

On September 9, 2020, the Company issued $ 125 million of 4.00 % fixed-to-floating rate subordinated notes with a maturity date of September 15, 2030.

2 unchanged sentences

The subordinated debt issuance costs of approximately $ 2 million are being amortized over five years on a straight-line basis into interest expense.

At March 31, 2025 and December 31, 2024, subordinated debentures, net of issuance costs, were $ 115 million.

For the quarters ended March 31, 2025 and March 31, 2024 total interest expense paid on the subordinate notes was $ 1 million

At June 30, 2025 and December 31, 2024, subordinated debentures, net of issuance costs, were $ 115 million.

For the six months ended June 30, 2025 and June 30, 2024 total interest expense paid on the subordinate notes was $ 2 million.

(b) Trust Preferred Securities

7 unchanged sentences

The following table sets forth a summary of the cumulative trust preferred securities and the junior subordinated debt held by the Trust as of the date listed (dollars in thousands).

Maturity date Interest rate Capital debt securities March 31, 2025 December 31, 2024

Maturity date Interest rate Capital debt securities June 30, 2025 December 31, 2024

Northwest Bancorp Capital Trust III December 30, 2035 3-month SOFR plus 1.38 %

20 unchanged sentences

Our obligation constitutes a full, irrevocable, and unconditional guarantee on a subordinated basis of the obligations of the trust under the preferred securities.

For the quarters ended March 31, 2025 and March 31, 2024 total interest expense paid on trust preferred securities was $ 2 million.

For the six months ended June 30, 2025 and June 30, 2024 total interest expense paid on trust preferred securities was $ 4 million and $ 5 million, respectively.

The Trusts must redeem the preferred securities when the debentures are paid at maturity or upon an earlier redemption of the debentures to the extent the debentures are redeemed.

5 unchanged sentences

• the preferred securities to no longer qualify as Tier 1 capital.

Table of Content s

We may, at any time, dissolve any of the Trusts and distribute the debentures to the trust security holders, subject to receipt of any required regulatory approvals.

6 unchanged sentences

Collateral may be obtained based on management’s credit assessment of the customer.

At March 31, 2025, the maximum potential amount of future payments we could be required to make under these non-recourse standby letters of credit was $ 57 million, of which $ 41 million is fully collateralized.

At March 31, 2025, we had a liability which represents deferred income of $ 2 million related to the standby letters of credit.

At June 30, 2025, the maximum potential amount of future payments we could be required to make under these non-recourse standby letters of credit was $ 57 million, of which $ 55 million is fully collateralized.

At June 30, 2025, we had a liability which represents deferred income of $ 1 million related to the standby letters of credit.

In addition, we maintain a $ 21 million unsecured line of credit with a correspondent bank for private label credit card facilities for certain existing commercial clients of the Bank, of which $ 12 million in notional value of credit cards have been issued.

These issued credit cards had an outstanding balance of $ 3 million at March 31, 2025.

These issued credit cards had an outstanding balance of $ 3 million at June 30, 2025.

The clients of the Bank are responsible for repaying any balances due on these credit cards directly to the correspondent bank;

3 unchanged sentences

Diluted EPS is calculated using both the two-class and the treasury stock methods with the more dilutive method used to determine diluted EPS.

The two-class method was used to determine basic EPS for the quarters ended March 31, 2025 and 2024 and the treasury stock method was used to determine diluted earnings per share for the quarters ended March 31, 2025 and 2024.

The two-class method was used to determine basic EPS for the three and six months ended June 30, 2025 and 2024 and the treasury stock method was used to determine diluted earnings per share for the three and six months ended June 30, 2025 and 2024.

The following table sets forth the computation of basic and diluted EPS (in thousands, except share data and per share amounts):

Quarter ended March 31,

Table of Content s

Quarter ended June 30, Six months ended June 30,

2025 2024 2025 2024

Numerator for earnings per share - Basic and Diluted:

14 unchanged sentences

(1) Reflects the total number of shares related to outstanding options that have been excluded from the computation of diluted earnings per share because the impact would have been anti-dilutive.

Table of Content s

(8) Pension and Other Post-Retirement Benefits

The following table sets forth the net periodic costs for the defined benefit pension plans and post-retirement healthcare plans for the periods indicated (in thousands):

Quarter ended March 31,

Quarter ended June 30,

Pension benefits Other post-retirement benefits

6 unchanged sentences

Net periodic cost $ 64 ( 691 ) 22 25

Six months ended June 30,

Pension benefits Other post-retirement benefits

2025 2024 2025 2024

Service cost $ 2,240 2,850 — —

Interest cost 4,346 4,410 30 30

Expected return on plan assets ( 5,978 ) ( 7,552 ) — —

Amortization of prior service cost ( 406 ) ( 1,126 ) — —

Amortization of the net loss ( 74 ) 36 14 20

Net periodic cost $ 128 ( 1,382 ) 44 50

Because of the current funding status, we do not anticipate a funding requirement during the year ending December 31, 2025.

16 unchanged sentences

◦ Quotes and other information from brokers or other external sources where the inputs are not deemed observable.

Table of Content s

We are responsible for the valuation process and as part of this process may use data from outside sources in establishing fair value.

29 unchanged sentences

The carrying amount of repurchase agreements approximates their fair value.

Table of Content s

Subordinated Debentures

22 unchanged sentences

Commitments to extend credit are generally short-term in nature and, if drawn upon, are issued under current market terms.

At March 31, 2025 and December 31, 2024, there was no significant unrealized appreciation or depreciation on these financial instruments.

The following table sets forth the carrying amount and estimated fair value of our financial instruments included in the Consolidated Statement of Financial Condition at March 31, 2025 (in thousands):

At June 30, 2025 and December 31, 2024, there was no significant unrealized appreciation or depreciation on these financial instruments.

The following table sets forth the carrying amount and estimated fair value of our financial instruments included in the Consolidated Statement of Financial Condition at June 30, 2025 (in thousands):

amount Estimated

10 unchanged sentences

Forward commitments 210 210 — 210 — —

Foreign exchange swaps 4 4 — 4 — —

Interest rate swaps designated as hedging instruments — — — 210 — ( 210 )

3 unchanged sentences

Financial liabilities:

Table of Content s

Savings and checking deposits $ 9,630,381 9,630,381 9,630,381 — — —

9 unchanged sentences

Total financial liabilities $ 12,672,008 12,669,773 9,840,198 152,384 2,696,069 ( 18,878 )

(1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties.

The following table sets forth the carrying amount and estimated fair value of our financial instruments included in the Consolidated Statement of Financial Condition at December 31, 2024 (in thousands):

30 unchanged sentences

Fair value estimates are made at a point-in-time, based on relevant market data and information about the instrument.

The methods and assumptions detailed above were used in estimating the fair value of financial instruments at both March 31, 2025 and December 31, 2024.

The following table represents assets and liabilities measured at fair value on a recurring basis at March 31, 2025 (in thousands):

The methods and assumptions detailed above were used in estimating the fair value of financial instruments at both June 30, 2025 and December 31, 2024.

Table of Content s

The following table represents assets and liabilities measured at fair value on a recurring basis at June 30, 2025 (in thousands):

Level 1 Level 2 Level 3 Netting Adjustments (1) Total assets

18 unchanged sentences

Forward commitments — 210 — — 210

Foreign exchange swaps — 4 — — 4

Interest rate swaps designated as hedging instruments — 210 — ( 210 ) —

6 unchanged sentences

Total liabilities $ — 32,807 — ( 12,242 ) 20,565

Table of Content s

The following table represents assets and liabilities measured at fair value on a recurring basis at December 31, 2024 (in thousands):

31 unchanged sentences

The following table presents the changes in Level 3 assets and liabilities measured at fair value on a recurring basis (in thousands):

For the quarter ended March 31,

For the quarter ended June 30, For the six months ended June 30,

2025 2024 2025 2024

Beginning balance, $ 433 479 342 641

5 unchanged sentences

Certain assets and liabilities are measured at fair value on a nonrecurring basis after initial recognition such as loans individually assessed, real estate owned, and MSRs.

The following table represents the fair market measurement for only those nonrecurring assets that had a fair market value below the carrying amount as of March 31, 2025 (in thousands):

Table of Content s

The following table represents the fair market measurement for only those nonrecurring assets that had a fair market value below the carrying amount as of June 30, 2025 (in thousands):

Level 1 Level 2 Level 3 Total assets

23 unchanged sentences

We classify real estate owned as nonrecurring Level 3.

The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine fair value at March 31, 2025 (in thousands):

Fair value Valuation techniques Significant

9 unchanged sentences

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent.

Table of Content s

(10) Derivative Financial Instruments

3 unchanged sentences

Derivatives Designated as Hedging Instruments

As of March 31, 2025, the Company had entered into seven separate pay-fixed interest rate swaps in order to synthetically convert short-term three month FHLB advances to fixed-rate term funding with an aggregate value of $ 175 million with maturities ranging from three to five years .

As of June 30, 2025, the Company had entered into seven separate pay-fixed interest rate swaps in order to synthetically convert short-term three month FHLB advances to fixed-rate term funding with an aggregate value of $ 175 million with maturities ranging from three to five years .

Our risk management objective and strategy for these interest rate swaps at such time was to reduce our exposure to variability in interest-related cash outflows attributable to changes in the USD-SOFR swap rate, the designated benchmark interest rate being hedged.

22 unchanged sentences

Changes to the fair value of the risk participation agreements are included in other operating income in the Consolidated Statement of Income.

Table of Content s

The following table presents information regarding our derivative financial instruments at the dates indicated (in thousands):

1 unchanged sentence

Notional amount Fair value Notional amount Fair value

At March 31, 2025

At June 30, 2025

Derivatives designated as hedging instruments:

18 unchanged sentences

The following table presents income or expense recognized on derivatives for the periods indicated (in thousands):

For the quarter ended March 31,

For the quarter ended June 30, For the six months ended June 30,

2025 2024 2025 2024

Hedging derivatives:

2 unchanged sentences

(Decrease)/increase in other income ( 231 ) ( 112 ) ( 612 ) 175

Increase/(decrease) in mortgage banking income 162 ( 115 )

The following table presents information regarding our derivative financial instruments designated as hedging for the quarter ended March 31, 2025 (dollars in thousands):

Increase in mortgage banking income 627 323 789 208

The following table presents information regarding our derivative financial instruments designated as hedging for the quarter ended June 30, 2025 (dollars in thousands):

Notional amount Effective rate Estimated decrease to interest expense in the next twelve months Maturity date Remaining term

8 unchanged sentences

Total $ 175,000 $ ( 1,331 )

Table of Content s

Our derivatives are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements.

2 unchanged sentences

Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups.

The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of March 31, 2025 (dollars in thousands).

Derivative assets Gross amounts of

31 unchanged sentences

We establish accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated.

As of March 31, 2025, we do not anticipate that the aggregate ultimate liability arising out of any pending or threatened legal proceedings will be material to our Consolidated Financial Statements.

As of June 30, 2025, we do not anticipate that the aggregate ultimate liability arising out of any pending or threatened legal proceedings will be material to our Consolidated Financial Statements.

Any such accruals are adjusted thereafter as appropriate to reflect changes in circumstances.

Due to the inherent subjectivity of assessments and unpredictability of outcomes of legal proceedings, any amounts accrued may not represent the ultimate loss to us from legal proceedings.

Table of Content s

(12) Changes in Accumulated Other Comprehensive Income

The following tables show the changes in accumulated other comprehensive income by component for the periods indicated (in thousands):

For the quarter ended March 31, 2025

For the quarter ended June 30, 2025

on securities

3 unchanged sentences

pension plans Total

Balance as of December 31, 2024 $ ( 130,248 ) 1,159 18,175 ( 110,914 )

Balance as of March 31, 2025 $ ( 116,385 ) ( 102 ) 18,006 ( 98,481 )

Other comprehensive/(loss) income before reclassification adjustments (1) (3) 3,425 ( 650 ) — 2,775

1 unchanged sentence

Net other comprehensive income/(loss) 3,426 ( 650 ) ( 169 ) 2,607

Balance as of March 31, 2025 $ ( 116,385 ) ( 102 ) 18,006 ( 98,481 )

For the quarter ended March 31, 2024

Balance as of June 30, 2025 $ ( 112,959 ) ( 752 ) 17,837 ( 95,874 )

For the quarter ended June 30, 2024

on securities

3 unchanged sentences

pension plans Total

Balance as of December 31, 2023 $ ( 150,659 ) ( 374 ) 1,541 ( 149,492 )

Balance as of March 31, 2024 $ ( 156,357 ) 1,780 1,153 ( 153,424 )

Other comprehensive (loss)/income before reclassification adjustments (5) (7) ( 3,391 ) 330 — ( 3,061 )

1 unchanged sentence

Net other comprehensive income/(loss) 23,398 330 ( 388 ) 23,340

Balance as of March 31, 2024 $ ( 156,357 ) 1,780 1,153 ( 153,424 )

Balance as of June 30, 2024 $ ( 132,959 ) 2,110 765 ( 130,084 )

(1) Consists of unrealized holding gains, net of tax of ($ 1,180 ) .

(2) Consists of realized losses, net of tax of $ 0 .

(3) Change in fair value of interest rate swaps, net of tax $ 246 .

1 unchanged sentence

(5) Consists of unrealized holding losses, net of tax of $ 168 .

(6) Consists of realized losses, net of tax of ($ 7,706 )

(7) Change in fair value of interest rate swaps, net of tax ($ 96 ) .

(8) Consists of realized gains, net of tax of $ 147 .

For the six months ended June 30, 2025

on securities

available-for-sale Change in

rate swaps Change in

defined benefit

pension plans Total

Balance as of December 31, 2024 $ ( 130,248 ) 1,159 18,175 ( 110,914 )

Other comprehensive income/(loss) before reclassification adjustments (1) (3) 17,288 ( 1,911 ) — 15,377

Amounts reclassified from accumulated other comprehensive income (2) (4) 1 — ( 338 ) ( 337 )

Net other comprehensive income/(loss) 17,289 ( 1,911 ) ( 338 ) 15,040

Balance as of June 30, 2025 $ ( 112,959 ) ( 752 ) 17,837 ( 95,874 )

Table of Content s

For the six months ended June 30, 2024

on securities

available-for-sale Change in

rate swaps Change in

defined benefit

pension plans Total

Balance as of December 31, 2023 $ ( 150,659 ) ( 374 ) 1,541 ( 149,492 )

Other comprehensive loss before reclassification adjustments (5) (7) ( 9,089 ) 2,484 — ( 6,605 )

Amounts reclassified from accumulated other comprehensive income (6) (8) 26,789 — ( 776 ) 26,013

Net other comprehensive loss 17,700 2,484 ( 776 ) 19,408

Balance as of June 30, 2024 $ ( 132,959 ) 2,110 765 ( 130,084 )

(1) Consists of unrealized holding gains, net of tax of ($ 5,663 ) .

(2) Consists of realized losses, net of tax of $ 0 .

(3) Change in fair value of interest rate swaps, net of tax $ 624 .

(4) Consists of realized gains, net of tax of $ 128 .

(5) Consists of unrealized holding losses, net of tax $ 1,926 .

(6) Consists of realized losses, net of tax ($ 7,706 ) .

(7) Change in fair value of interest rate swaps, net of tax ($ 726 ) .

(8) Consists of realized gains, net of tax of $ 294 .

Table of Content s

(13) Segment Information

1 unchanged sentence

Our one operating segment, Banking, is also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of the various components of the business such as branches and lending, which are then aggregated because operating performance, products/services and customers are similar.

The chief operating decision maker will evaluate the financial performance of the Company’s business components such as by evaluating revenue streams, significant expenses and budget to actual results in assessing the Company’s segment and in the determination of allocating resources.

The chief operating decision maker will evaluate the financial performance of the Company’s business components by evaluating revenue streams, significant expenses and budget to actual results in assessing the Company’s segment and in the determination of allocating resources.

The information reviewed is on a consolidated basis and discrete financial information is not available.

9 unchanged sentences

Banking Segment

Quarter ended March 31,

Quarter ended June 30, Six months ended June 30,

2025 2024 2025 2024

Interest income $ 171,570 166,854 352,165 327,093

2 unchanged sentences

Trust and other financial services income 7,948 7,566 15,858 14,693

Loss on sale of investments — ( 39,413 ) — ( 39,413 )

Other revenue (1)

7,193 7,471 12,651 12,784

Consolidated revenues $ 202,508 158,005 411,458 346,207

13 unchanged sentences

(2) Other segment items include expenses for collections, marketing, amortization of intangibles, merger, asset disposition and restructuring and other operating expense.

Table of Content s

Banking Segment

Quarter ended March 31,

Quarter ended June 30, Six months ended June 30,

2025 2024 2025 2024

Other segment disclosures

8 unchanged sentences

(14) Subsequent Events

On April 23, 2025, the Company announced that it has received all regulatory and shareholder approvals required to complete the merger with Penns Woods Bancorp, Inc.

The merger is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions.

On July 25, 2025, the Company completed the previously announced merger with Penns Woods Bancorp , Inc.

(“Penns Woods”), the holding company for Jersey Shore State Bank and Luzerne Bank, along with the mergers of Jersey Shore State Bank and Luzerne Bank with and into Northwest Bank, for a total estimated consideration of $ 234 million.

The Company is currently in the process of finalizing the purchase accounting of this transaction.

Under the terms of the Agreement and Plan of Merger entered into by the Company and Penns Woods on December 16, 2024 (the "Merg er Agreement"), each share of common stock of Penns Woods converted into the right to receive 2.385 shares of the Company’s common stock or a total of 18,226,469 shares of common stock of the Company valued at $ 230 million, based on the $ 12.63 per share clos ing price of the Company's stock on July 25, 2025.

Additionally, any unexer cised stock options of Penns Woods outstanding were cancelled in exchange for a cash payment at the spread value over the exercise price valued at $ 4 million.

The transaction has resulted the Company having approximately $ 17 billion in total assets, providing banking services throug h 151 financial centers and 10 free standing drive-up facilities in four states.

The transaction expanded the Company's franchise by 21 full-service offices located in Pennsylvania.

Table of Content s

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements