Northwest bancshares, inc. (NWBI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Interest income:
Loans receivable

94,973

97,866

101,091

100,917

94,935

92,512

90,733

88,106

85,220

87,154

85,373

84,714

82,751

85,669

81,083

81,506

80,781

80,882

76,087

70,985

70,711

71,182

70,820

70,726

69,322

70,595

71,422

71,987

72,973

75,855

76,771

77,173

78,159

79,088

80,562

79,993

80,457

83,096

83,372

81,734

80,746

Mortgage-backed securities

4,175

4,237

4,188

4,280

3,965

3,942

3,572

3,254

3,013

3,016

3,118

2,987

2,222

2,166

2,030

2,115

2,229

2,301

2,230

2,058

2,234

2,357

2,504

2,666

2,793

2,956

3,113

3,308

3,441

3,697

3,941

4,409

4,691

5,077

5,544

6,073

6,756

5,886

6,534

6,706

6,145

Taxable investment securities

648

683

884

898

936

924

814

648

678

805

957

981

1,006

988

627

756

1,038

1,108

1,238

1,129

1,045

-117

1,456

1,711

1,080

1,052

1,030

1,034

905

743

577

435

573

776

684

594

398

428

489

599

998

Tax-free investment securities

185

201

224

237

182

170

205

313

390

449

476

529

569

625

676

707

724

836

986

1,143

1,348

1,467

1,561

1,598

1,655

1,748

1,912

2,094

2,063

2,132

2,223

2,318

2,446

2,600

2,848

2,992

3,074

3,111

3,090

2,853

2,684

Federal Home Loan Bank stock dividends

262

262

307

316

171

151

119

85

97

78

63

50

59

285

218

401

467

499

451

475

1,403

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest-earning deposits

135

169

172

159

100

69

162

469

135

59

244

536

660

300

114

70

59

13

99

180

139

164

187

286

200

249

253

340

251

382

364

473

380

423

393

489

407

496

524

512

565

Total interest income

100,378

103,418

106,866

106,807

100,289

97,768

95,605

92,875

89,533

91,561

90,231

89,797

87,267

90,033

84,748

85,555

85,298

85,639

81,091

75,970

76,880

76,862

76,528

76,987

75,050

76,971

77,730

78,763

79,633

82,809

83,876

84,808

86,249

87,964

90,031

90,141

91,092

93,017

94,009

92,404

91,138

Interest expense:
Deposits

11,403

12,893

13,694

12,484

10,145

8,985

8,233

7,309

6,458

5,971

5,795

5,826

5,465

5,859

5,653

5,865

6,088

6,435

6,163

5,691

5,766

6,106

6,305

6,421

6,490

6,911

7,150

7,404

7,814

9,042

10,207

11,184

12,944

14,227

14,958

15,473

16,063

17,025

17,772

18,973

21,404

Borrowed funds

1,747

1,580

2,236

1,720

2,162

1,952

1,555

1,340

1,308

1,350

1,199

1,240

1,225

1,232

1,801

4,143

7,658

8,051

7,987

8,101

8,133

7,876

7,882

7,793

7,714

7,894

8,126

8,032

7,831

7,998

8,013

7,912

7,899

8,041

8,061

7,989

7,989

8,762

9,587

9,704

9,700

Total interest expense

13,150

14,473

15,930

14,204

12,307

10,937

9,788

8,649

7,766

7,321

6,994

7,066

6,690

7,091

7,454

10,008

13,746

14,486

14,150

13,792

13,899

13,982

14,187

14,214

14,204

14,805

15,276

15,436

15,645

17,040

18,220

19,096

20,843

22,268

23,019

23,462

24,052

25,787

27,359

28,677

31,104

Net interest income

87,228

88,945

90,936

92,603

87,982

86,831

85,817

84,226

81,767

84,240

83,237

82,731

80,577

82,942

77,294

75,547

71,552

71,153

66,941

62,178

62,981

62,880

62,341

62,773

60,846

62,166

62,454

63,327

63,988

65,769

65,656

65,712

65,406

65,696

67,012

66,679

67,040

67,230

66,650

63,727

60,034

Provision for credit losses

27,637

8,223

3,302

4,667

6,467

3,792

6,982

5,349

4,209

6,525

3,027

5,562

4,637

2,145

5,538

4,199

1,660

4,595

3,167

1,050

900

1,078

3,466

8,285

7,485

964

4,992

5,405

7,158

8,173

6,915

4,963

6,287

10,502

8,057

8,367

7,244

13,918

9,871

7,896

8,801

Net interest income after provision for credit losses

59,591

80,722

87,634

87,936

81,515

83,039

78,835

78,877

77,558

77,715

80,210

77,169

75,940

80,797

71,756

71,348

69,892

66,558

63,774

61,128

62,081

61,802

58,875

54,488

53,361

61,202

57,462

57,922

56,830

57,596

58,741

60,749

59,119

55,194

58,955

58,312

59,796

53,312

56,779

55,831

51,233

Noninterest income:
Gain on sale of loans

1,300

-

826

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain/(loss) on sale of investments

181

27

0

29

-6

4

0

0

153

-369

1,497

3

17

213

58

227

127

116

260

566

95

381

852

349

3,348

5,889

109

19

101

394

260

-44

44

157

152

45

4

7

17

94

2,083

Service charges and fees

15,116

14,125

13,558

13,339

12,043

12,827

13,158

12,908

11,899

12,527

12,724

12,749

11,717

12,406

11,012

10,630

10,065

10,530

9,945

9,228

8,659

9,268

9,665

9,042

8,408

8,874

9,282

9,037

8,691

9,137

9,110

8,951

8,425

9,472

8,499

9,321

8,928

9,296

9,821

9,902

8,902

Trust and other financial services income

5,001

13,405

4,609

-4,444

4,195

20,408

4,254

-4,050

-4,031

23,076

-4,793

-4,600

4,304

-24,075

3,434

3,277

3,261

3,410

3,062

3,094

2,776

3,291

2,976

3,055

3,047

2,483

2,380

2,263

2,204

2,288

2,122

2,018

2,116

1,967

2,063

2,185

1,910

1,907

1,600

1,912

1,833

Impairment losses on securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

111

340

0

545

-

-

577

-

-1,357

1,830

1,824

437

Noncredit related losses on securities not expected to be sold (recognized in other comprehensive income)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

111

247

0

307

-

-

70

-

-2,191

1,438

1,606

340

Net impairment losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

93

0

238

-

-

507

-

834

392

218

97

Insurance commission income

2,372

1,858

1,887

2,145

2,178

1,906

2,046

2,090

2,749

1,874

1,992

2,353

2,794

2,499

2,541

2,768

2,714

2,490

2,398

2,210

2,428

2,181

1,778

2,237

2,564

2,131

2,019

2,190

2,295

1,463

1,480

1,603

1,718

1,582

1,796

1,790

1,380

1,362

1,393

1,293

1,142

Loss on real estate owned, net

-91

86

-227

91

-3

-14

-247

176

-546

-307

-193

-230

-67

164

-563

111

249

-156

-246

-541

-1,046

-30

-240

-562

-135

-660

-111

-2,285

-130

-2,804

-1,187

-582

-1,070

-466

-1,340

-593

-27

-279

-2,014

-255

-24

Income from bank-owned life insurance

1,036

1,121

1,095

1,197

1,005

1,038

1,460

2,333

990

2,295

1,078

1,652

1,068

1,281

1,380

1,105

1,595

1,251

1,166

1,008

913

1,057

1,083

1,050

1,001

1,846

1,178

1,088

1,085

1,589

1,148

1,107

1,117

1,199

1,938

1,716

1,166

1,228

1,212

1,474

1,166

Mortgage banking income

1,194

1,494

1,921

188

216

213

82

77

224

225

519

434

240

2,344

1,886

446

218

208

267

218

240

269

239

265

249

228

203

236

956

1,874

1,484

789

531

-29

400

290

197

1,423

752

29

-8

Gain on sale of offices

-

-

-

-

-

-

-

-

-

-

0

17,186

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating income

1,865

4,077

2,500

1,930

2,034

3,028

1,804

2,475

2,288

2,370

2,184

2,730

1,431

1,781

1,070

1,711

1,219

1,697

1,288

742

560

528

1,384

991

1,175

498

1,049

865

1,176

964

949

1,244

997

1,428

1,002

1,015

768

1,058

1,439

1,314

860

Total noninterest income

27,976

28,213

26,169

23,363

21,662

23,248

22,557

24,109

21,788

22,905

24,594

41,477

21,504

24,819

20,818

20,275

19,448

19,546

18,140

16,525

14,625

16,945

17,737

16,427

19,657

20,576

16,109

13,413

16,378

14,905

15,273

15,086

13,640

14,880

14,510

15,262

14,326

15,168

13,828

15,545

15,857

Noninterest expense:
Compensation and employee benefits

42,746

42,074

40,816

42,008

38,188

39,319

37,535

39,031

36,510

39,293

36,556

38,175

38,272

38,230

38,122

33,210

33,033

32,003

31,000

28,920

27,895

31,405

28,047

28,543

27,972

28,475

27,629

28,156

27,930

28,302

28,171

27,416

27,838

25,434

26,004

29,658

25,499

25,328

24,565

24,960

25,856

Premises and occupancy costs

7,471

7,051

7,061

7,387

7,218

6,567

6,821

6,824

7,307

7,293

6,951

7,103

7,516

7,228

6,094

6,275

6,537

6,403

6,072

5,899

6,267

5,516

5,642

5,740

6,557

5,652

5,633

5,744

6,153

5,680

5,498

5,483

5,748

5,556

5,658

5,650

6,191

5,675

5,648

5,340

6,002

Office operations

3,382

4,097

3,197

3,708

3,131

3,455

3,508

3,768

3,408

4,011

3,939

4,170

4,222

4,395

3,700

3,343

3,460

3,252

3,268

2,905

2,912

666

3,419

3,868

3,757

3,823

3,497

3,866

3,268

3,419

3,141

3,340

3,324

3,286

3,209

3,255

3,100

3,233

4,460

2,934

3,237

Collections expense

474

566

747

939

308

780

483

434

512

1,179

568

553

549

437

589

729

676

1,252

624

603

768

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Processing expenses

11,142

10,263

11,122

10,634

10,434

10,160

9,620

9,560

9,706

9,888

9,650

9,639

9,909

9,429

8,844

8,172

8,414

8,057

8,126

7,392

7,205

6,720

6,723

6,639

6,589

6,269

6,036

7,390

5,853

6,459

6,340

6,059

6,142

5,982

5,896

5,687

5,767

6,041

5,863

5,552

5,696

Marketing expenses

1,507

1,010

1,373

2,729

1,886

2,331

1,949

2,014

2,140

2,125

2,488

2,846

2,148

2,181

2,239

2,541

1,891

1,642

1,691

3,190

1,976

1,434

2,211

2,931

1,637

1,259

1,032

2,093

1,900

134

1,830

3,829

2,036

3,098

2,788

2,108

1,959

2,930

2,208

3,294

1,443

Federal deposit insurance premiums

0

0

-702

681

706

637

721

671

717

724

771

856

1,167

475

984

1,442

1,503

1,299

1,177

1,286

1,347

1,316

1,242

1,338

1,297

1,361

1,377

1,424

1,438

1,211

1,305

1,418

1,620

933

1,386

2,355

2,427

2,334

2,424

2,148

2,148

Professional services

2,812

3,533

3,032

3,198

2,524

3,134

2,368

2,819

2,277

2,945

2,321

2,452

2,575

2,088

1,815

2,129

1,833

1,933

1,529

1,652

1,792

1,970

1,854

1,775

2,062

2,044

1,331

1,199

1,693

1,869

1,939

1,500

1,697

1,441

1,238

1,289

1,256

291

1,126

583

728

Amortization of intangible assets

1,651

1,634

1,702

1,760

1,447

1,346

1,462

1,520

1,520

1,575

1,691

1,749

1,749

1,806

1,068

710

675

729

422

269

268

331

330

331

331

222

291

349

348

219

219

279

295

374

475

479

491

518

725

759

782

Real estate owned expense

95

72

119

128

159

187

205

133

292

195

310

217

282

192

206

295

311

393

471

514

692

406

636

459

639

557

681

600

599

477

832

571

740

462

483

249

431

636

654

712

899

Restructuring/acquisition expense

2,458

1,114

23

1,105

1,926

435

186

393

0

164

1,398

2,634

223

1,009

7,183

3,386

635

1,347

7,590

467

347

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FHLB prepayment penalty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

36,978

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expenses

4,873

5,157

2,106

3,235

3,497

3,922

1,759

2,620

3,032

2,504

2,156

2,868

3,034

1,291

2,836

2,912

4,307

2,917

1,834

2,038

2,242

2,043

3,250

2,182

2,322

2,918

2,770

1,985

2,289

2,662

2,528

2,071

1,836

1,870

2,786

1,760

2,257

2,484

1,375

1,875

1,813

Total noninterest expense

78,611

76,571

70,596

77,512

71,424

72,273

66,617

69,787

67,421

71,896

68,799

73,262

71,646

68,761

73,680

102,122

63,275

61,227

63,804

55,135

53,711

55,212

53,354

53,806

53,163

52,580

50,277

52,806

51,471

50,432

51,803

51,966

51,276

48,436

49,923

52,490

49,378

50,699

49,048

48,157

48,604

Income before income taxes

8,956

32,364

43,207

33,787

31,753

34,014

34,775

33,199

31,925

28,724

36,005

45,384

25,798

36,855

18,894

-10,499

26,065

24,877

18,110

22,518

22,995

23,535

23,258

17,109

19,855

29,198

23,294

18,529

21,737

22,069

22,211

23,869

21,483

21,638

23,542

21,084

24,744

17,781

21,559

23,219

18,486

Provision for income taxes:
Federal

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,229

6,822

6,081

7,491

-

-

-

-

Federal and state income taxes expense

1,017

6,773

9,793

7,404

6,709

7,547

7,035

6,900

6,940

6,576

12,414

14,402

8,052

12,361

4,697

-3,491

8,081

8,684

5,238

7,213

6,825

6,190

5,926

4,435

5,244

8,982

5,727

5,051

6,439

5,915

6,518

7,508

6,302

-

-

-

-

5,043

6,068

7,078

5,333

Net Income (Loss) Available to Common Stockholders, Basic

7,939

25,591

33,414

26,383

25,044

26,467

27,740

26,299

24,985

22,148

23,591

30,982

17,746

24,494

14,197

-7,008

17,984

16,193

12,872

15,305

16,170

17,345

17,332

12,674

14,611

20,216

17,567

13,478

15,298

16,154

15,693

16,361

15,181

15,175

16,720

15,003

17,253

12,738

15,491

16,141

13,153

Basic earnings per share (in dollars per share)

0.08

0.24

0.32

0.25

0.24

0.25

0.27

0.26

0.25

0.22

0.23

0.31

0.18

0.25

0.14

-0.07

0.18

0.15

0.14

0.17

0.18

0.19

0.19

0.14

0.16

0.22

0.19

0.15

0.17

0.18

0.17

0.17

0.16

0.16

0.17

0.15

0.16

0.12

0.14

0.15

0.12

Diluted earnings per share (in dollars per share)

0.07

0.24

0.31

0.25

0.24

0.26

0.27

0.25

0.24

0.22

0.23

0.30

0.17

0.24

0.14

-0.07

0.18

0.16

0.13

0.17

0.18

0.18

0.19

0.14

0.16

0.22

0.19

0.15

0.17

0.17

0.17

0.17

0.16

0.16

0.17

0.15

0.16

0.12

0.14

0.15

0.12