NWSB Northwest Bancorp, Inc. featured news, full reports, and detailed charts
Northwest Bancorp, Inc. (NWSB) Wrap Up:
Northwest Bancorp, Inc. is a Federal corporation formed on June 29, 2001, as the successor to a Pennsylvania corporation of the same name. Both the Federal corporation and its Pennsylvania predecessor are referred to as the “Company.” The Company became the stock holding company of Northwest Savings Bank (the “Bank”) in a transaction (the “Two-Tier Reorganization”) that was approved by the Bank’s stockholders in December of 1997, and completed in February of 1998. In the Two-Tier Reorganization, each share of the Bank’s common stock was converted into and became a share of common stock of the Company, par value $0.10 per share (the “Common Stock”), and the Bank became a wholly-owned subsidiary of the Company. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f12%2f0000950152-08-001876.html#FIS_BUSINESS"www.northwestsavingsbank.com
1,699 Employees
Founded in 1896
Northwest Bancorp Inc. (Warren, PA) (NWSB:NASDAQ)
LAST $22.18 USD
CHANGE TODAY +0.28 1.28%
VOLUME 138.6K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Northwest Bancorp Inc. (Warren, PA) (NWSB)
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OPEN
$21.88
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PREVIOUS CLOSE
$21.90
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DAY HIGH
$22.18
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DAY LOW
$21.84
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52 WEEK HIGH
09/10/09 - $24.70
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52 WEEK LOW
03/9/09 - $13.07
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MARKET CAP
1.1B
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AVERAGE VOLUME 3 mo
63.8K
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DILUTED EPS TTM
$0.88
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SHARES OUTSTANDING
48.6M
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EX-DATE
10/29/09
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P/E TTM
25.1x
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DIVIDEND
$0.88
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DIVIDEND YIELD
3.97%
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related news
Northwest Savings receives approval for stock offering: Sale will complete the bank's transition from depositor owned to publicly traded [The Buffalo News, N.Y.]
Knight Ridder/Tribune - 11/17/2009 9:43 AM ET
NWSB Top Compensated Officers
Mr. William J. Wagner
Chairman of the Board, Chief Executive Office...
Age: 56
Total Annual Compensation: $497.0K
Mr. William W. Harvey Jr.
Chief Financial Officer, Executive Vice Presi...
Age: 43
Total Annual Compensation: $220.3K
Mr. Gregory C. LaRocca
Corporate Secretary, Executive Vice President...
Age: 59
Total Annual Compensation: $222.9K
Mr. Steven G. Fisher
Executive Vice President of Banking Services ...
Age: 52
Total Annual Compensation: $220.3K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Northwest Bancorp Inc. (Warren, PA) (NWSB)
Northwest Bancorp Inc. (Warren, PA) Reports Un-Audited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Reports Impairment Losses on Securities ; Declares Quarterly Cash Dividend Payable on November 12, 2009
10/22/2009
Northwest Bancorp Inc. (Warren, PA) reported un-audited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $12.1 million, or $0.25 per diluted share. This represents an increase of $2.3 million, or 22.7%, over the same quarter last year when net income was $9.8 million, or $0.20 per diluted share. Net interest income decreased by $700,000, or 1.2%, from $57.5 million to $56.8 million in the same quarter last year. Net interest margin for the quarter ended September 30, 2009 was 3.54% compared to 3.71% for the quarter ended September 30, 2008. The decrease resulted primarily from the company carrying, on average, $298.2 million more in overnight funds than in the previous year earning an average rate of 0.30% compared to an average rate of 2.69% in the previous year. Total interest income was $90.4 million compared to $97.4 million and income before income taxes was $16.0 million compared to $13 million reported for the same quarter last year. For the nine months, the company reported net income of $31.6 million, or $0.65 per diluted share, represents a decrease of $5.2 million, or 14.2% compared to net income of $36.9 million, or $0.76 per diluted share, for the nine-month period ended September 30, 2008. This decrease resulted primarily from the company recording a provision for loan losses which was $14.7 million, or 116.4%, higher than the previous year. Total interest income was $274.2 million, net interest income was $171.2 million and income before income taxes was $43.1 million compared to total interest income of $291.0 million, net interest income of $159.4 million and income before income taxes of $50.1 million, respectively reported for the same period last year. The company reported impairment losses on securities of $16.0 million compared to $13 million in the same quarter last year. The company also announced that its Board of Directors declared a quarterly cash dividend of $0.22 per share payable on November 12, 2009, to shareholders of record as of November 2, 2009.
Northwest Bancorp Inc. (Warren, PA) expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 22, 2009).
10/22/2009
Northwest Bancorp Inc. (Warren, PA) expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 22, 2009).
Northwest Savings Opens Three Monroe County Banks
10/6/2009
Northwest Bancorp Inc. (Warren, PA) has opened new, full-service, banking locations in Monroe County, New York. The new facilities serve communities in Greece, Webster/Penfield and Gates/Chili. Including its downtown office, which opened in July of 2006, Northwest Savings Bank now serves Monroe County with four bank offices; another is now under construction in Brighton.
NWSB Competitors
| Company | Last | Change |
| FNB Corp | $6.75 USD | +0.17 |
| First Commonwealth Financial Corp | $4.33 USD | +0.04 |
| National Penn Bancshares Inc | $5.55 USD | +0.11 |
| NewAlliance Bancshares Inc | $11.61 USD | -0.06 |
| Provident Financial Services Inc | $10.67 USD | -0.02 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | NWSB | Industry Range |
| Price/Earnings | 24.8x |
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| Price/Sales | 4.4x |
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| Price/Book | 1.6x |
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| Price/Cash Flow | 24.8x |
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| TEV/Sales | NM | Not Meaningful |
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NWSB |
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NWSB transactions
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| No transactions in the last 6 months. | ||
More Recent News About Northwest Bancorp, Inc.
More news for NWSB
Northwest Bancorp, Inc. Announces Quarterly Earnings and Dividend Declaration
WARREN, Pa., Oct. 22 /PRNewswire-FirstCall/ -- Northwest Bancorp, Inc. (Nasdaq: NWSB - News) announced net income for the quarter ended September 30, 2009 of $12.1 million, or $0.25 per diluted share. This represents an increase of $2.3 million, or 22.7%, over the same quarter last year when net income was $9.8 million, or $0.20 per diluted share. The annualized returns on average shareholders' equity and average assets for the current quarter were 7.48% and 0.68% compared to 6.31% and 0.57% for the same quarter last year. In making this announcement, William J. Wagner, President and CEO, noted, "We are pleased to report positive earnings when many institutions in our industry are reporting operating losses. In addition, our core earnings components for the quarter were strong with a net interest margin of 3.54% of average assets, non-interest income of 0.79% of average assets, and noninterest expense of 2.53% of average assets. Unfortunately, economic conditions have caused our Company to record higher provisions for loan losses which has greatly impacted earnings over the past year. We also continued to improve our balance sheet, as we experienced significant growth in home equity and commercial loans during the quarter while also realizing good growth in deposits, with an emphasis on checking accounts and savings accounts."The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.22 per share payable on November 12, 2009, to shareholders of record as of November 2, 2009. This rep...Click here to read the whole Article (external link)
Coverage initiated on Northwest Banc by Keefe Bruyette
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Five Star, Northwest turn 3Q profit
Net income was on the rise at two banks in Western New York for the third quarter of 2009. Financial Institutions Inc., parent of Five Star Bank, this week said it earned $3.4 million, or 23 cents per share, for the period ending Sept. 30, 2009. A year ago the Warsaw-based company reported a net loss of $28.4 million, or $2.66 per share. Likewise, Northwest Bancorp Inc., which operates locally as Northwest Savings Bank and Jamestown Savings Bank, reported $12.1 million, or 25 cents per share, in net income for third quarter. Last year at this time, net income was $9.8 million, the banking company said. Still, the Warren, Pa.-headquartered bank said it is dealing with $117.1 million in delinquent loans, up from $94.9 million for the third quarter of 2008. Loan loan provisions have increased to $9.8 million, compared with $7 million a year ago. The bank said it ramped up loan loss provisions due to “the result of continued weakness in economic conditions and the resulting impact on the company’s borrowers.” Financial Institutions, meanwhile, reported some better luck in the loan department. It lent more money during the third quarter of 2009, compared with the third quarter of 2008 and both its nonaccrual loans — to...Click here to read the whole Article (external link)
Northwest Savings Bank Completes Acquisition
WARREN, Pa., Oct. 26 /PRNewswire-FirstCall/ -- Northwest Savings Bank (Nasdaq: NWSB - News) has completed its acquisition of Keystone State Savings Bank, a Pennsylvania-chartered mutual savings bank with one branch office located at 905 Main Street, Sharpsburg, Pennsylvania. The branch opened as an office of Northwest Savings Bank at 9:00 AM on Monday, October 26. Chris Martin, President of the Southwest Region of Northwest Savings Bank, made the announcement. Northwest Savings Bank will operate the office as a full-service community banking center, the Northwest's twenty-ninth in the Greater Pittsburgh area, offering not only Northwest's entire range of checking, savings and retirement savings programs, but also lending programs to serve all home borrowing, personal and business needs. Customers may also access Northwest's business and investment management and trust services at the new Sharpsburg Office.Pursuant to the merger agreement, to reflect the value of Keystone State Savings based on an independent appraisal, upon the consummation of the merger, Northwest Bancorp, Inc., the mid-tier publicly traded holding company of Northwest Savings Bank, issued 76,106 shares of its stock to Northwest Bancorp, MHC, Northwest Savings Bank's top-tier mutual holding company.About Keystone State Savings BankKeystone State Savings Bank was founded in 1887. Prior to its acquisition, at September 30, 2009, it held $25.6 million, deposits of $21.8 million and equity capital of $3.7 million.About Northwe...Click here to read the whole Article (external link)
Northwest Savings Bank acquires Pa.-based Keystone
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
Northwest Savings Introduces Business Mobile Banking
WARREN, Pa., Nov. 12 /PRNewswire-FirstCall/ -- Northwest Savings Bank has introduced Business Mobile Banking, a new service that allows business customers to do their banking whenever they wish from any place that their cellphone or mobile communications device can operate. "Business Mobile Banking offers our business customers a new way to save time, and time is money," said Joseph Schwind, Assistant Vice President, Electronic Payment / Product Services, of Northwest Savings Bank, who made the announcement. "Our customers can now bank literally from wherever they are, 24/7. It's the ultimate in banking convenience. The world is now their office."With Business Mobile Banking from Northwest, Mr. Schwind explained, customers may choose to use SMS, Short Message System, or web browser format to conduct their banking. With Business Mobile Banking, he said, customers can view recent transactions, check balances, transfer funds between accounts, pay bills, retrieve short statements, approve or reject transfers, stop payments, ACH transactions and wires, make positive pay decisions and, of course, contact customer service with no limits on the number of monthly transactions or added costs from the bank.Business Mobile Banking, like online banking at Northwest, is subject to doubled security, requiring both a password and a passmark for use. Business Mobile Banking customers must also be online banking customers.Founded in 1896, Northwest Savings Bank currently operates 171 community-banking locations in Pennsylvania, New York, Ohio, Maryland and Florida. A full-service financial institution offering a complete line of retail and business banking products as well as investment management and trust services, it holds over $7 billion in assets. The bank also operates 50 consumer finance offices in Pennsylvania through its subsidiary, Nort...Click here to read the whole Article (external link)
NORTHWEST BANCORP INC Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Forward-Looking Statements: In addition to historical information, this document may contain certain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, as they reflect management's analysis only as of the date of this report. The Company has no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this report. Important factors that might cause such a difference include, but are not limited to: • Changes in interest rates which could impact our net interest margin; • Adverse changes in our loan portfolio or investment securities portfolio and the resulting credit risk-related losses and/ or market value adjustments; • The impact of the current financial crisis on our loan portfolio (including cash flow and collateral values), investment portfolio, customers and capital market activities; • Possible impairments of securities held by us, including those issued by government entities and government sponsored enterprises; • Our ability to continue to increase and manage our commercial and residential real estate, multifamily and commercial and industrial loans; • The adequacy of the allowance for loan losses; • Changes in the financial performance and/ or condition of the Company's borrowers; • Changes in general economic or business conditions resulting in changes in demand for credit and other services, among other things; • Changes in consumer confidence, spending and savings habi...Click here to read the whole Article (external link)
NORTHWEST BANCORP INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits
Show all filings for NORTHWEST BANCORP INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for NORTHWEST BANCORP INC 27-Oct-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informati...Click here to read the whole Article (external link)
Northwest Bancshares, Inc. To Commence Second Step Conversion and Offering
WARREN, Pa., Nov. 12 /PRNewswire-FirstCall/ -- Northwest Bancorp, Inc. (NasdaqGS: NWSB - News) announced today that Northwest Bancshares, Inc., the proposed holding company for Northwest Savings Bank, and Northwest Bancorp, MHC have received conditional regulatory approval to commence the second step conversion and offering. Northwest Bancorp, Inc. also announced today that the registration statement relating to the sale of common stock of Northwest Bancshares, Inc. has been declared effective by the Securities and Exchange Commission. Northwest Bancshares, Inc. is offering for sale the 63.0% ownership interest currently owned by Northwest Bancorp, MHC in Northwest Bancorp, Inc. which is equivalent to between $539.8 million and $730.3 million, or between 53,975,000 and 73,025,000 shares of common stock at $10.00 per share. Northwest Bancshares, Inc. may increase the number of shares that it sells in the offering, without notice to persons who have subscribed for shares, by up to 15%, to $839.8 million or 83,978,750 shares, as a result of market demand, regulatory considerations or changes in financial markets. The number of shares to be sold in the offering and issued to public stockholders in the exchange is based on an independent appraisal of the estimated pro forma market value of Northwest Bancshares, Inc. at August 28, 2009.The subscription and community offerings are expected to begin November 12, 2009 and expected to expire at 4:00 p.m., Eastern Time, on December 3, 2009. Shares not sold in the subscription and co...Click here to read the whole Article (external link)
NORTHWEST BANCORP INC Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue96,251 107,231 106,146 112,239 Cost of Revenue23,472 24,446 24,637 27,259 Gross Profit - 82,785 81,509 84,980 Operating ExpensesResearch Development - - - - Selling General and Administrative44,286 46,178 43,422 41,921 Non Recurring(8,162)8,162 - 266 Others10,531 8,683 10,504 17,306 Total Operating Expenses - - - - Operating Income or Loss - 19,762 27,583 25,487 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes26,124 19,762 27,583 25,487 Interest Expense10,114 10,115 10,189 10,405 Income Before Tax16,010 9,647 17,394 15,082 Income Tax Expense3,956 2,356 5,092 3,798 Minority Interest - - - - Net Income From Continuing Ops12,054 7,291 12,302 11,284 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - &nbs...Click here to read the whole Article (external link)
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