Northwest Bancshares rises on higher Q1 profit

Northwest Bancshares

24/04/2023 16:29

** Shares of Northwest Bancshares Inc  NWBI.O  rise as much
as 1.2% to $11.7
    ** Company reports Q1 net income of $33.7 mln, or $0.26/shr,
compared with $28.3 mln, or $0.22/shr a year earlier
    ** Q1 net interest income increases 24.1% to $112.5 mln over
the year earlier
    ** "We have been able to maintain our current deposit base
and have not seen outsized deposit outflows due to the recent
events in the banking industry" - President and CEO Louis
Torchio
    ** NWBI stock down 16.99% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))