NORTHWEST BANCSHARES, INC. NWBI Income Statement

Northwest bancshares, inc. (NWBI)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Loans receivable
394,809	356,571	339,992	329,039	298,665	282,050	286,977	307,958	320,100	328,948	320,121
Mortgage-backed securities
16,670	13,781	11,343	8,540	8,823	10,320	12,818	16,738	23,450	25,271	27,263
Taxable investment securities
3,401	3,064	3,749	3,409	4,520	4,130	4,021	2,328	2,452	2,514	5,384
Tax-free investment securities
844	1,078	2,023	2,732	4,313	6,281	7,817	9,119	11,514	11,738	11,054
Federal Home Loan Bank stock dividends
1,056	452	250	1,371	2,828	1,809	371	-	-	-	-
Interest-earning deposits
600	835	1,499	543	431	837	1,093	1,599	1,712	2,097	641
Total interest income
417,380	375,781	358,856	345,634	319,580	305,427	313,097	337,742	359,228	370,568	364,463
Interest expense:
Deposits
49,216	30,985	23,057	23,465	24,055	25,322	29,279	43,377	60,721	75,174	95,394
Borrowed funds
7,698	6,155	5,014	14,834	32,272	31,265	31,883	31,822	32,080	37,753	40,412
Total interest expense
56,914	37,140	28,071	38,299	56,327	56,587	61,162	75,199	92,801	112,927	135,806
Net interest income
360,466	338,641	330,785	307,335	263,253	248,840	251,935	262,543	266,427	257,641	228,657
Provision for credit losses
22,659	20,332	19,751	13,542	9,712	20,314	18,519	26,338	34,170	40,486	41,847
Net interest income after provision for credit losses
337,807	318,309	311,034	293,793	253,541	228,526	233,416	236,205	232,257	217,155	186,810
Noninterest income:
Gain on sale of loans
1,734	0	0	-	-	-	-	-	-	-	-
Gain/(loss) on sale of investments
50	157	1,148	625	1,037	4,930	6,118	654	358	2,201	403
Service charges and fees
53,065	50,792	49,717	44,113	38,362	36,383	35,884	35,623	36,220	37,921	34,811
Trust and other financial services income
17,765	16,581	17,987	-14,103	12,342	12,369	9,330	8,544	8,125	7,252	6,307
Impairment losses on securities
-	-	-	-	-	-	713	996	2,081	2,734	12,408
Noncredit related losses on securities not expected to be sold (recognized in other comprehensive income)
-	-	-	-	-	-	-	665	1,144	1,193	6,311
Net impairment losses
-	-	-	-	-	-	-	331	937	1,541	6,097
Insurance commission income
8,068	8,791	9,013	10,522	9,526	8,760	8,635	6,264	6,548	5,190	2,658
Loss on real estate owned, net
-53	-631	-797	-39	-1,989	-967	-3,186	-5,643	-2,426	-2,572	-4,054
Income from bank-owned life insurance
4,418	5,821	6,093	5,361	4,338	4,191	5,197	4,961	6,019	5,080	4,791
Mortgage banking income
3,819	596	1,418	4,894	933	1,022	1,623	4,678	858	2,196	7,434
Gain on sale of offices
0	0	17,186	0	0	-	-	-	-	-	-
Gain on bargain purchase of Keystone State Savings Bank
-	-	-	-	-	-	-	-	-	-	3,503
Other operating income
10,541	9,595	8,715	5,781	4,287	4,078	3,588	4,154	4,213	4,671	3,581
Total noninterest income
99,407	91,702	110,480	85,360	68,836	70,766	66,476	58,904	58,978	60,398	53,337
Noninterest expense:
Compensation and employee benefits
163,086	152,395	152,296	142,595	119,818	115,967	112,190	111,727	106,595	100,709	95,594
Premises and occupancy costs
28,717	27,519	28,863	26,134	24,641	23,455	23,182	22,409	23,055	22,665	21,963
Office operations
14,133	14,139	16,342	14,898	12,337	11,710	14,454	13,224	12,850	13,864	12,947
Collections expense
2,560	2,209	2,849	2,431	3,247	3,011	-	-	-	-	-
Processing expenses
42,453	39,046	39,086	34,859	30,780	26,671	25,548	25,000	23,332	23,152	21,312
Marketing expenses
6,998	8,434	9,607	8,852	8,499	8,213	6,284	7,829	9,953	9,875	9,152
Federal deposit insurance premiums
685	2,746	3,518	4,404	5,109	5,193	5,600	5,554	7,101	9,054	8,309
Professional services
12,287	10,598	10,293	7,865	6,906	7,661	6,267	7,005	5,224	2,728	2,590
Amortization of intangible assets
6,543	5,848	6,764	4,259	1,688	1,323	1,210	1,012	1,819	2,784	3,020
Real estate owned expense
478	817	1,004	1,004	2,070	2,140	2,437	2,620	1,625	2,901	2,461
FDIC special assessment
-	-	-	-	-	-	-	-	-	-	3,288
Contribution to charitable foundation
-	-	-	-	-	-	-	-	-	-	13,822
Restructuring/acquisition expense
4,168	1,014	4,419	12,213	9,751	394	0	-	-	1,229	-
FHLB prepayment penalty
-	-	-	36,978	0	0	-	-	-	-	-
Other expenses
13,995	11,333	10,562	11,346	9,031	9,797	9,962	9,097	8,673	7,547	6,036
Total noninterest expense
296,103	276,098	285,603	307,838	233,877	215,535	207,134	205,477	200,227	196,508	200,494
Income before income taxes
141,111	133,913	135,911	71,315	88,500	83,757	92,758	89,632	91,008	81,045	39,653
Provision for income taxes:
Federal
24,069	21,948	34,801	20,313	24,010	19,656	23,177	22,390	22,623	20,267	5,468
State
6,610	6,474	6,643	1,335	3,950	2,139	3,022	3,853	4,234	3,255	1,532
Federal and state income taxes expense
30,679	28,422	41,444	21,648	27,960	21,795	26,199	26,243	26,857	23,522	7,000
Net Income (Loss) Available to Common Stockholders, Basic
110,432	105,491	94,467	49,667	60,540	61,962	66,559	63,389	64,151	57,523	32,653
Basic earnings per share (in dollars per share)
1.05	1.03	0.94	0.50	0.64	0.68	0.73	0.68	0.64	0.53	0.30
Diluted earnings per share (in dollars per share)
1.04	1.02	0.92	0.49	0.64	0.67	0.73	0.67	0.64	0.53	0.30