Northwest Bancshares, Inc 8-K, filed Oct 26, 2026

Northwest Bancshares, Inc. (NWBI)

8-K 2026-10-26 For: 2026-10-26

Added on October 26, 2026

About this 8-K

Northwest Bancshares, Inc filed this 8-K on October 26, 2026.

Northwest Bancshares, Inc. reported GAAP net income of $51 million, or $0.34 per diluted share, for the quarter ended September 30, 2026. It declared a $0.20 per share dividend payable November 17, 2026; nonperforming loans were 0.74% and annualized net charge-offs were 0.15%. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Exhibit No.						Description

99.1						Press release dated October 26, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)


Dollars in thousands					Change 3Q26 vs.
	3Q26		2Q26	3Q25	2Q26		3Q25
Average loans receivable	$	13,302,278	13,094,235	12,568,497	1.6	%	5.8	%
Average investments	2,604,899		2,531,603	2,111,928	2.9	%	23.3	%

Average deposits	14,139,954		14,133,825	13,296,651	—	%	6.3	%
Average borrowed funds	617,533		379,262	347,357	62.8	%	77.8	%


Dollars in thousands								Change 3Q26 vs.
	3Q26			2Q26		3Q25		2Q26		3Q25
Interest income	$	210,171		205,140		194,678		2.5	%	8.0	%
Interest expense	61,221			58,202		58,704		5.2	%	4.3	%
Net interest income	$	148,950		146,938		135,974		1.4	%	9.5	%

Net interest margin FTE	3.70		%	3.75	%	3.65	%


Dollars in thousands								Change 3Q26 vs.
	3Q26			2Q26		3Q25		2Q26		3Q25
Provision for credit losses - loans	$	5,220		4,280		31,394		22.0	%	(83.4)	%
Provision for credit losses - unfunded commitments	3,896			2,357		(189)		65.3	%	2161.4	%
Total provision for credit losses expense	$	9,116		6,637		31,205		37.4	%	(70.8)	%

Classified loans	$	468,968		524,056		527,040		(10.5)	%	(11.0)	%
Classified loans as a percent of total loans	3.50		%	3.96	%	4.07	%


Dollars in thousands					Change 3Q26 vs.
	3Q26		2Q26	3Q25	2Q26		3Q25
Noninterest income:
Gain on sale of investments	$	313	336	36	(6.8)	%	769.4	%

Gain on sale of SBA loans	1,081		1,217	341	(11.2)	%	217.0	%
Service charges and fees	17,935		16,908	16,911	6.1	%	6.1	%
Trust and other financial services income	10,108		9,449	8,040	7.0	%	25.7	%
Gain on real estate owned, net	315		20	132	1475.0	%	138.6	%
Income from bank-owned life insurance	2,222		2,013	1,751	10.4	%	26.9	%
Mortgage banking income	363		738	1,003	(50.8)	%	(63.8)	%
Other operating income	3,590		3,548	3,984	1.2	%	(9.9)	%
Total noninterest income	$	35,927	34,229	32,198	5.0	%	11.6	%


Investor Contact:			Michael Perry, Corporate Development & Strategy (814) 726-2140
Media Contact:			Ian Bailey, External Communications (380) 400-2423


	September 30, 2026			June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
Assets
Cash and cash equivalents	$	223,310		248,499		286,707		233,647		278,817


Marketable securities available-for-sale (amortized cost of $1,974,633, $1,972,165, $1,884,060, $1,710,978 and $1,405,959, respectively)	1,751,568			1,829,179		1,746,919		1,586,382		1,270,880
Marketable securities held-to-maturity (fair value of $518,383, $550,416, $567,470, $605,929 and $618,633, respectively)	612,731			630,802		646,661		683,369		702,392
Total cash and cash equivalents and marketable securities	2,587,609			2,708,480		2,680,287		2,503,398		2,252,089

Loans held-for-sale	8,374			15,391		16,846		22,437		22,297
Residential mortgage loans	2,984,204			3,001,908		3,035,984		3,100,780		3,157,853
Home equity loans	1,496,559			1,497,157		1,495,800		1,507,532		1,520,893
Consumer loans	2,918,083			2,843,058		2,660,567		2,563,890		2,453,805
Commercial real estate loans	2,931,601			2,988,237		3,161,314		3,296,902		3,495,664
Commercial and industrial loans	3,062,849			2,898,867		2,702,283		2,538,212		2,312,718
Total loans receivable	13,393,296			13,229,227		13,055,948		13,007,316		12,940,933
Allowance for credit losses	(149,626)			(149,321)		(150,045)		(150,212)		(157,396)
Loans receivable, net	13,243,670			13,079,906		12,905,903		12,857,104		12,783,537


FHLB stock, at cost	51,439			43,345		32,781		36,628		33,349
Accrued interest receivable	59,783			57,473		57,221		56,291		55,549
Real estate owned, net	2,772			63		65		76		174
Premises and equipment, net	148,843			144,423		141,477		140,381		139,491
Bank-owned life insurance	294,011			293,354		292,103		294,386		303,115
Goodwill	444,997			444,997		444,330		444,330		438,402
Other intangible assets, net	33,242			35,312		37,478		39,667		47,924
Other assets	435,119			384,395		298,558		371,919		305,082
Total assets	$	17,309,859		17,207,139		16,907,049		16,766,617		16,381,009
Liabilities and shareholders’ equity
Liabilities
Noninterest-bearing demand deposits	$	3,166,262		3,191,560		3,121,044		3,123,229		3,089,963
Interest-bearing demand deposits	3,041,379			2,916,518		2,937,654		2,995,759		2,898,350
Money market deposit accounts	2,831,245			2,766,675		2,734,781		2,540,818		2,462,979
Savings deposits	2,438,182			2,459,255		2,444,799		2,366,513		2,373,413
Time deposits	2,797,970			2,827,810		2,975,026		2,916,698		2,871,544
Total deposits	14,275,038			14,161,818		14,213,304		13,943,017		13,696,249


Borrowed funds	786,715			612,075		350,884		446,283		368,241
Subordinated debt	—			114,800		114,800		114,800		114,800
Junior subordinated debentures	130,288			130,223		130,158		130,093		130,028
Advances by borrowers for taxes and insurance	20,300			47,400		40,127		37,309		21,840
Accrued interest payable	7,616			8,385		8,585		6,846		10,555
Other liabilities	197,668			205,031		144,884		197,845		183,560
Total liabilities	15,417,625			15,279,732		15,002,742		14,876,193		14,525,273
Shareholders’ equity
Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares issued	—			—		—		—		—
Common stock, $0.01 par value: 500,000,000 shares authorized, 146,559,425; 146,396,520; 146,302,025; 146,107,964 and 146,097,057 shares issued and outstanding, respectively	1,466			1,464		1,463		1,461		1,461
Additional paid-in capital	1,277,121			1,274,117		1,271,372		1,270,444		1,268,694
Retained earnings	755,548			734,423		710,351		689,210		672,843

Accumulated other comprehensive loss	(141,901)			(82,597)		(78,879)		(70,691)		(87,262)
Total shareholders’ equity	1,892,234			1,927,407		1,904,307		1,890,424		1,855,736
Total liabilities and shareholders’ equity	$	17,309,859		17,207,139		16,907,049		16,766,617		16,381,009

Equity to assets	10.93		%	11.20	%	11.26	%	11.27	%	11.33	%
Tangible common equity to tangible assets*	8.40		%	8.65	%	8.66	%	8.64	%	8.62	%
Book value per share	$	12.91		13.17		13.02		12.94		12.70
Tangible book value per share*	$	9.65		9.88		9.72		9.63		9.37
Closing market price per share	$	14.84		15.16		12.69		12.00		12.39
Full time equivalent employees	2,157			2,183		2,170		2,169		2,190
Number of banking offices	164			162		161		161		161


	Quarter ended
	September 30, 2026			June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025

Interest income:
Loans receivable	$	186,750		182,469		180,549		184,047		177,723
Mortgage-backed securities	19,001			18,024		16,999		14,071		12,668
Taxable investment securities	1,990			1,799		1,601		1,324		1,183
Tax-free investment securities	594			674		762		777		752
FHLB stock dividends	1,061			738		768		701		652
Interest-earning deposits	775			1,436		871		1,905		1,700
Total interest income	210,171			205,140		201,550		202,825		194,678
Interest expense:
Deposits	51,298			50,384		51,083		52,947		51,880
Borrowed funds	9,923			7,818		7,985		7,712		6,824
Total interest expense	61,221			58,202		59,068		60,659		58,704
Net interest income	148,950			146,938		142,482		142,166		135,974
Provision for credit losses - loans	5,220			4,280		4,954		5,743		31,394
Provision for credit losses - unfunded commitments	3,896			2,357		(585)		1,981		(189)
Net interest income after provision for credit losses	139,834			140,301		138,113		134,442		104,769
Noninterest income:
Gain on sale of investments	313			336		11		142		36

Gain on sale of SBA loans	1,081			1,217		1,186		437		341

Service charges and fees	17,935			16,908		17,118		17,377		16,911
Trust and other financial services income	10,108			9,449		8,618		8,416		8,040
Gain on real estate owned, net	315			20		70		148		132
Income from bank-owned life insurance	2,222			2,013		2,042		8,269		1,751
Mortgage banking income	363			738		329		379		1,003

Other operating income	3,590			3,548		3,208		2,609		3,984
Total noninterest income	35,927			34,229		32,582		37,777		32,198
Noninterest expense:
Compensation and employee benefits	63,931			63,476		58,330		65,143		63,014
Premises and occupancy costs	8,943			8,494		9,863		8,170		7,707
Office operations	3,651			3,660		3,875		4,217		3,495
Collections expense	1,109			665		878		856		776
Processing expenses	17,452			16,948		16,806		16,454		15,072
Marketing expenses	2,662			2,362		1,668		1,827		1,932
Federal deposit insurance premiums	3,169			(291)		2,895		3,538		3,361
Professional services	3,094			3,490		3,523		3,366		3,010
Amortization of intangible assets	2,070			2,166		2,189		2,257		1,974
Merger, asset disposition and restructuring expense	238			426		631		4,160		31,260
Other expenses	2,652			2,887		3,380		3,533		1,897
Total noninterest expense	108,971			104,283		104,038		113,521		133,498
Income before income taxes	66,790			70,247		66,657		58,698		3,469
Income tax expense	16,071			16,701		16,121		12,985		302
Net income	$	50,719		53,546		50,536		45,713		3,167

Basic earnings per share	$	0.35		0.37		0.35		0.31		0.02
Diluted earnings per share	$	0.34		0.36		0.34		0.31		0.02

Weighted average common shares outstanding - diluted	147,460,563			147,127,223		146,850,635		146,703,966		141,175,516

Annualized return on average equity	10.42		%	11.20	%	10.86	%	9.70	%	0.69	%
Annualized return on average assets	1.18		%	1.27	%	1.22	%	1.10	%	0.08	%
Annualized return on average tangible common equity*	13.86		%	14.94	%	14.59	%	13.10	%	0.90	%

Efficiency ratio	58.94		%	57.56	%	59.43	%	63.09	%	79.38	%
Efficiency ratio, excluding certain items**	57.79		%	56.24	%	57.82	%	59.57	%	59.63	%


	Nine months ended September 30,
	2026			2025
Interest income:
Loans receivable	$	549,768		497,275
Mortgage-backed securities	54,024			36,552
Taxable investment securities	5,390			3,115
Tax-free investment securities	2,030			1,776
FHLB stock dividends	2,567			1,336
Interest-earning deposits	3,082			6,789
Total interest income	616,861			546,843
Interest expense:
Deposits	152,765			146,031
Borrowed funds	25,726			17,576
Total interest expense	178,491			163,607
Net interest income	438,370			383,236
Provision for credit losses - loans	14,454			51,106
Provision for credit losses - unfunded commitments	5,668			(3,246)
Net interest income after provision for credit losses	418,248			335,376
Noninterest income:
Gain on sale of investments	660			36

Gain on sale of SBA loans	3,484			2,398

Service charges and fees	51,961			47,695


Trust and other financial services income	28,175			23,898

Gain on real estate owned, net	405			474
Income from bank-owned life insurance	6,277			4,503
Mortgage banking income	1,430			2,774
Other operating income	10,346			9,713
Total noninterest income	102,738			91,491
Noninterest expense:
Compensation and employee benefits	185,737			172,767
Premises and occupancy costs	27,300			23,229
Office operations	11,186			9,382
Collections expense	2,652			1,942
Processing expenses	51,206			42,035
Marketing expenses	6,692			6,830
Federal deposit insurance premiums	5,773			7,985
Professional services	10,107			9,756
Amortization of intangible assets	6,425			2,914

Merger, asset disposition and restructuring expense	1,295			38,627
Other expenses	8,919			7,308
Total noninterest expense	317,292			322,775
Income before income taxes	203,694			104,092
Income tax expense	48,893			23,792
Net income	$	154,801		80,300

Basic earnings per share	$	1.06		0.61
Diluted earnings per share	$	1.05		0.61

Weighted average common shares outstanding - diluted	147,161,720			132,700,517




Annualized return on average equity	10.82		%	6.36	%
Annualized return on average assets	1.22		%	0.72	%
Annualized return on tangible common equity*	14.46		%	8.29	%

Efficiency ratio	58.64		%	67.99	%
Efficiency ratio, excluding certain items**	57.28		%	59.25	%


	As of September 30, 2026
	Balance		Percent of total deposits		Number of relationships
Uninsured deposits per the Call Report (1)	$	4,084,262	28.6	%	6,330
Less intercompany deposit accounts	1,445,562		10.1	%	12
Less collateralized deposit accounts	446,859		3.1	%	253
Uninsured deposits excluding intercompany and collateralized accounts	$	2,191,841	15.4	%	6,065


	At September 30, 2026
	Actual (1)				Minimum capital requirements (2)				Well capitalized requirements
	Amount		Ratio		Amount		Ratio		Amount		Ratio
Total capital (to risk weighted assets)
Northwest Bancshares, Inc.	$	1,872,875	14.39	%	$	1,366,301	10.50	%	$	1,301,239	10.00	%
Northwest Bank	1,730,470		13.34	%	1,361,617		10.50	%	1,296,778		10.00	%

Tier 1 capital (to risk weighted assets)
Northwest Bancshares, Inc.	1,583,750		12.17	%	1,106,053		8.50	%	780,744		6.00	%
Northwest Bank	1,568,195		12.09	%	1,102,262		8.50	%	1,037,423		8.00	%

Common equity tier 1 capital (to risk weighted assets)
Northwest Bancshares, Inc.	1,583,750		12.17	%	910,868		7.00	%	N/A		N/A
Northwest Bank	1,568,195		12.09	%	907,745		7.00	%	842,906		6.50	%

Tier 1 capital (leverage) (to average assets)
Northwest Bancshares, Inc.	1,583,750		9.40	%	674,178		4.00	%	N/A		N/A
Northwest Bank	1,568,195		9.31	%	673,786		4.00	%	842,232		5.00	%


	September 30, 2026
Marketable securities available-for-sale	Amortized cost		Gross unrealized holding gains	Gross unrealized holding losses	Fair value	Weighted average duration
Debt issued by the U.S. government and agencies:

Due after ten years	$	39,019	—	(8,492)	30,527	5.71









Municipal securities:
Due in one year or less	3,578		—	(28)	3,550	0.65
Due after one year through five years	3,299		—	(101)	3,198	3.05
Due after five years through ten years	21,308		—	(2,707)	18,601	6.48
Due after ten years	47,057		87	(10,475)	36,669	9.73

Corporate debt issues:

Due after one year through five years	16,276		107	(367)	16,016	3.31
Due after five years through ten years	84,266		856	(1,909)	83,213	6.05
Due after ten years	12,000		19	—	12,019	4.33

Mortgage-backed agency securities:
Fixed rate pass-through	516,430		—	(39,526)	476,904	7.57
Variable rate pass-through	344		2	—	346	2.67
Fixed rate agency CMBS	625,167		—	(106,348)	518,819	3.65
Variable rate agency CMBS	6,248		—	(6)	6,242	2.22
Fixed rate agency CMOs	571,932		10	(54,214)	517,728	5.03
Variable rate agency CMOs	27,709		34	(7)	27,736	6.52
Total mortgage-backed agency securities	1,747,830		46	(200,101)	1,547,775	5.36
Total marketable securities available-for-sale	$	1,974,633	1,115	(224,180)	1,751,568	5.47

Marketable securities held-to-maturity
Government sponsored:

Due after one year through five years	$	107,991	—	(9,180)	98,811	2.25

Mortgage-backed agency securities:
Fixed rate pass-through	87,879		—	(12,431)	75,448	3.70
Variable rate pass-through	280		—	—	280	3.66
Fixed rate agency CMBS	70,093		—	(14,157)	55,936	3.40
Fixed rate agency CMOs	345,960		—	(58,577)	287,383	5.17
Variable rate agency CMOs	528		—	(3)	525	3.42
Total mortgage-backed agency securities	504,740		—	(85,168)	419,572	4.67
Total marketable securities held-to-maturity	$	612,731	—	(94,348)	518,383	4.24


At September 30, 2026	Pass		Special mention *	Substandard **	Doubtful	Loss	Loans receivable
Personal Banking:
Residential mortgage loans	$	2,971,697	—	12,507	—	—	2,984,204
Home equity loans	1,490,313		—	6,246	—	—	1,496,559
Consumer loans	2,912,520		—	5,563	—	—	2,918,083
Total Personal Banking	7,374,530		—	24,316	—	—	7,398,846
Commercial Banking:
Commercial real estate loans	2,438,398		148,563	344,640	—	—	2,931,601
Commercial and industrial loans	2,915,066		47,771	98,674	1,338	—	3,062,849
Total Commercial Banking	5,353,464		196,334	443,314	1,338	—	5,994,450
Total loans	$	12,727,994	196,334	467,630	1,338	—	13,393,296
At June 30, 2026
Personal Banking:
Residential mortgage loans	$	2,990,142	—	11,766	—	—	3,001,908
Home equity loans	1,491,787		—	5,370	—	—	1,497,157
Consumer loans	2,837,791		—	5,267	—	—	2,843,058
Total Personal Banking	7,319,720		—	22,403	—	—	7,342,123
Commercial Banking:
Commercial real estate loans	2,443,890		152,441	391,906	—	—	2,988,237
Commercial and industrial loans	2,742,819		46,301	109,747	—	—	2,898,867
Total Commercial Banking	5,186,709		198,742	501,653	—	—	5,887,104
Total loans	$	12,506,429	198,742	524,056	—	—	13,229,227
At March 31, 2026
Personal Banking:
Residential mortgage loans	$	3,025,485	—	10,499	—	—	3,035,984
Home equity loans	1,491,020		—	4,780	—	—	1,495,800
Consumer loans	2,654,310		—	6,257	—	—	2,660,567
Total Personal Banking	7,170,815		—	21,536	—	—	7,192,351
Commercial Banking:
Commercial real estate loans	2,651,304		147,384	362,626	—	—	3,161,314
Commercial and industrial loans	2,543,444		45,383	113,456	—	—	2,702,283
Total Commercial Banking	5,194,748		192,767	476,082	—	—	5,863,597
Total loans	$	12,365,563	192,767	497,618	—	—	13,055,948
At December 31, 2025
Personal Banking:
Residential mortgage loans	$	3,088,533	—	12,247	—	—	3,100,780
Home equity loans	1,503,777		—	3,755	—	—	1,507,532
Consumer loans	2,557,577		—	6,313	—	—	2,563,890
Total Personal Banking	7,149,887		—	22,315	—	—	7,172,202
Commercial Banking:
Commercial real estate loans	2,817,802		131,589	347,511	—	—	3,296,902
Commercial and industrial loans	2,392,830		61,852	83,530	—	—	2,538,212
Total Commercial Banking	5,210,632		193,441	431,041	—	—	5,835,114
Total loans	$	12,360,519	193,441	453,356	—	—	13,007,316
At September 30, 2025
Personal Banking:
Residential mortgage loans	$	3,146,355	—	11,498	—	—	3,157,853
Home equity loans	1,513,914		—	6,979	—	—	1,520,893
Consumer loans	2,447,208		—	6,597	—	—	2,453,805
Total Personal Banking	7,107,477		—	25,074	—	—	7,132,551
Commercial Banking:
Commercial real estate loans	2,912,166		171,005	412,493	—	—	3,495,664
Commercial and industrial loans	2,141,236		82,009	89,473	—	—	2,312,718
Total Commercial Banking	5,053,402		253,014	501,966	—	—	5,808,382
Total loans	$	12,160,879	253,014	527,040	—	—	12,940,933


	September 30, 2026		*		June 30, 2026		*		March 31, 2026		*		December 31, 2025		*		September 30, 2025		*

Loans delinquent 30 days to 59 days:
Residential mortgage loans	$	1,233	—	%	$	1,140	—	%	$	44,502	1.5	%	$	41,180	1.3	%	$	1,639	0.1	%
Home equity loans	6,535		0.4	%	6,611		0.4	%	5,932		0.4	%	6,488		0.4	%	4,644		0.3	%

Consumer loans	13,411		0.5	%	11,812		0.4	%	10,429		0.4	%	14,063		0.5	%	12,257		0.5	%
Commercial real estate loans	6,457		0.2	%	4,370		0.1	%	17,541		0.6	%	28,645		0.9	%	14,600		0.4	%
Commercial and industrial loans	1,297		—	%	2,844		0.1	%	7,127		0.3	%	5,657		0.2	%	9,974		0.4	%
Total loans delinquent 30 days to 59 days	$	28,933	0.2	%	$	26,777	0.2	%	$	85,531	0.7	%	$	96,033	0.7	%	$	43,114	0.3	%

Loans delinquent 60 days to 89 days:
Residential mortgage loans	$	5,830	0.2	%	$	7,468	0.2	%	$	2,531	0.1	%	$	10,934	0.4	%	$	7,917	0.3	%
Home equity loans	1,603		0.1	%	2,116		0.1	%	2,946		0.2	%	2,316		0.2	%	2,671		0.2	%

Consumer loans	4,478		0.2	%	3,508		0.1	%	4,264		0.2	%	4,599		0.2	%	3,691		0.2	%
Commercial real estate loans	5,416		0.2	%	3,208		0.1	%	25,859		0.8	%	12,941		0.4	%	1,575		—	%
Commercial and industrial loans	22,661		0.7	%	5,837		0.2	%	8,432		0.3	%	2,899		0.1	%	1,915		0.1	%
Total loans delinquent 60 days to 89 days	$	39,988	0.3	%	$	22,137	0.2	%	$	44,032	0.3	%	$	33,689	0.3	%	$	17,769	0.1	%

Loans delinquent 90 days or more:
Residential mortgage loans	$	10,901	0.4	%	$	10,671	0.4	%	$	6,468	0.2	%	$	10,001	0.3	%	$	9,427	0.3	%
Home equity loans	5,014		0.3	%	4,343		0.3	%	3,263		0.2	%	2,492		0.2	%	2,963		0.2	%

Consumer loans	4,224		0.1	%	4,038		0.1	%	4,561		0.2	%	4,893		0.2	%	4,865		0.2	%
Commercial real estate loans	15,944		0.5	%	29,840		1.0	%	18,282		0.6	%	32,745		1.0	%	56,453		1.6	%
Commercial and industrial loans	11,945		0.4	%	15,659		0.5	%	11,266		0.4	%	16,269		0.6	%	9,490		0.4	%
Total loans delinquent 90 days or more	$	48,028	0.4	%	$	64,551	0.5	%	$	43,840	0.3	%	$	66,400	0.5	%	$	83,198	0.6	%

Total loans delinquent	$	116,949	0.9	%	$	113,465	0.9	%	$	173,403	1.3	%	$	196,122	1.5	%	$	144,081	1.1	%


	Quarter ended
	September 30, 2026			June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
Beginning balance	$	149,321		150,045		150,212		157,396		129,159

Initial allowance on loans purchased with credit deterioration	—			—		—		—		6,029
Provision	5,220			4,280		4,954		5,743		31,394
Charge-offs residential mortgage	(617)			(465)		(1,001)		(228)		(137)
Charge-offs home equity	(199)			(383)		(291)		(558)		(336)

Charge-offs consumer	(3,543)			(4,121)		(4,531)		(4,139)		(3,994)
Charge-offs commercial real estate	(1,694)			(889)		(254)		(9,765)		(4,312)
Charge-offs commercial and industrial	(1,565)			(945)		(1,155)		(532)		(2,395)
Recoveries	2,703			1,799		2,111		2,295		1,988
Ending balance	$	149,626		149,321		150,045		150,212		157,396
Net charge-offs to average loans, annualized	0.15		%	0.15	%	0.16	%	0.40	%	0.29	%


	Nine months ended September 30,
	2026			2025
Beginning balance	$	150,212		116,819
Initial allowance on loans purchased with credit deterioration	—			6,029
Provision	14,454			51,106
Charge-offs residential mortgage	(2,083)			(998)
Charge-offs home equity	(873)			(1,022)

Charge-offs consumer	(12,195)			(11,130)
Charge-offs commercial real estate	(2,837)			(4,721)
Charge-offs commercial and industrial	(3,665)			(6,563)
Recoveries	6,613			7,876
Ending balance	$	149,626		157,396
Net charge-offs to average loans, annualized	0.15		%	0.19	%


	Quarter ended
	September 30, 2026					June 30, 2026					March 31, 2026					December 31, 2025					September 30, 2025
	Average balance		Interest	Avg. yield/ cost		Average balance		Interest	Avg. yield/ cost		Average balance		Interest	Avg. yield/ cost		Average balance		Interest	Avg. yield/ cost		Average balance		Interest	Avg. yield/ cost
Assets:
Interest-earning assets:
Residential mortgage loans	$	3,003,745	30,494	4.06	%	$	3,030,237	30,219	3.99	%	$	3,078,476	30,596	3.98	%	$	3,147,858	31,814	4.04	%	$	3,160,008	31,386	3.97	%
Home equity loans	1,490,806		22,127	5.89	%	1,494,049		21,798	5.85	%	1,501,203		21,512	5.81	%	1,512,049		22,802	5.98	%	1,421,717		21,080	5.88	%
Consumer loans	2,798,690		38,147	5.41	%	2,658,435		36,064	5.44	%	2,529,868		34,270	5.49	%	2,412,579		34,436	5.66	%	2,330,173		32,729	5.57	%
Commercial real estate loans	3,028,012		47,304	6.11	%	3,131,545		49,291	6.23	%	3,342,140		51,337	6.14	%	3,468,667		53,345	6.02	%	3,377,740		51,761	6.00	%
Commercial and industrial loans	2,981,025		49,361	6.48	%	2,779,969		45,753	6.51	%	2,632,150		43,497	6.61	%	2,441,346		42,447	6.80	%	2,278,859		41,519	7.13	%
Total loans receivable (a) (b) (d)	13,302,278		187,433	5.59	%	13,094,235		183,125	5.61	%	13,083,837		181,212	5.62	%	12,982,499		184,844	5.65	%	12,568,497		178,475	5.63	%
Mortgage-backed securities (c)	2,301,769		19,001	3.30	%	2,232,535		18,024	3.23	%	2,148,996		16,999	3.16	%	1,892,074		14,071	2.97	%	1,810,209		12,668	2.80	%
Investment securities (c) (d)	303,130		2,741	3.62	%	299,068		2,652	3.55	%	317,996		2,566	3.23	%	309,147		2,339	3.03	%	301,719		2,153	2.85	%
FHLB stock, at cost	44,956		1,061	9.36	%	34,416		738	8.60	%	36,220		768	8.59	%	32,876		701	8.46	%	30,434		652	8.51	%
Other interest-earning deposits	93,723		775	3.24	%	141,898		1,436	4.00	%	139,970		871	2.49	%	170,370		1,905	4.37	%	164,131		1,700	4.05	%
Total interest-earning assets	16,045,856		211,011	5.22	%	15,802,152		205,975	5.23	%	15,727,019		202,416	5.22	%	15,386,966		203,860	5.26	%	14,874,990		195,648	5.22	%
Noninterest-earning assets (e)	1,076,642					1,061,487					1,105,758					1,107,042					1,067,450
Total assets	$	17,122,498				$	16,863,639				$	16,832,777				$	16,494,008				$	15,942,440
Liabilities and shareholders’ equity:
Interest-bearing liabilities:
Savings deposits	$	2,447,880	6,918	1.12	%	$	2,447,522	6,531	1.07	%	$	2,395,887	6,072	1.03	%	$	2,362,215	6,324	1.06	%	$	2,343,137	6,679	1.13	%
Interest-bearing demand deposit	2,960,536		8,505	1.14	%	2,973,878		8,422	1.14	%	2,999,478		8,741	1.18	%	2,940,296		9,084	1.23	%	2,782,369		8,258	1.18	%
Money market deposit accounts	2,802,942		13,828	1.96	%	2,728,590		12,723	1.87	%	2,609,333		12,128	1.88	%	2,522,362		12,499	1.97	%	2,392,748		11,785	1.95	%
Time deposits	2,799,072		22,047	3.12	%	2,882,261		22,708	3.16	%	2,967,098		24,142	3.30	%	2,841,234		25,040	3.50	%	2,818,526		25,158	3.54	%
Total interest-bearing deposits (g)	11,010,430		51,298	1.85	%	11,032,251		50,384	1.83	%	10,971,796		51,083	1.89	%	10,666,107		52,947	1.97	%	10,336,780		51,880	1.99	%
Borrowed funds (f)	617,533		6,128	3.94	%	379,262		3,740	3.96	%	404,547		3,875	3.88	%	354,894		3,425	3.83	%	347,357		3,366	3.84	%
Subordinated debt	94,835		1,862	7.68	%	114,800		2,200	7.58	%	114,800		2,204	7.68	%	114,800		2,285	7.79	%	114,745		1,335	4.65	%
Junior subordinated debentures	130,245		1,933	5.81	%	130,181		1,878	5.70	%	130,121		1,906	5.86	%	130,051		2,002	6.02	%	129,986		2,123	6.39	%
Total interest-bearing liabilities	11,853,043		61,221	2.05	%	11,656,494		58,202	2.00	%	11,621,264		59,068	2.06	%	11,265,852		60,659	2.14	%	10,928,868		58,704	2.13	%
Noninterest-bearing demand deposits (g)	3,129,524					3,101,574					3,074,939					3,105,108					2,959,871
Noninterest-bearing liabilities	208,586					187,436					248,832					252,960					244,306
Total liabilities	15,191,153					14,945,504					14,945,035					14,623,920					14,133,045
Shareholders’ equity	1,931,345					1,918,135					1,887,742					1,870,088					1,809,395
Total liabilities and shareholders’ equity	$	17,122,498				$	16,863,639				$	16,832,777				$	16,494,008				$	15,942,440
Net interest income/Interest rate spread FTE			149,790	3.17	%			147,773	3.23	%			143,348	3.16	%			143,201	3.12	%			136,944	3.09	%
Net interest-earning assets/Net interest margin FTE	$	4,192,813		3.70	%	$	4,145,658		3.75	%	$	4,105,755		3.70	%	$	4,121,114		3.69	%	$	3,946,122		3.65	%
Tax equivalent adjustment (d)			840					835					866					1,035					970
Net interest income, GAAP basis			148,950					146,938					142,482					142,166					135,974
Ratio of interest-earning assets to interest-bearing liabilities	1.35X					1.36X					1.35X					1.37X					1.36X


	Nine months ended September 30,
	2026					2025
	Average balance		Interest	Avg. yield/cost		Average balance		Interest	Avg. yield/cost
Assets
Interest-earning assets:
Residential mortgage loans	$	3,037,212	91,308	4.01	%	$	3,135,705	91,758	3.90	%
Home equity loans	1,495,315		65,437	5.85	%	1,236,733		53,509	5.78	%
Consumer loans	2,663,316		108,481	5.45	%	2,118,568		87,650	5.53	%

Commercial real estate loans	3,166,082		147,933	6.16	%	3,033,193		151,726	6.60	%
Commercial loans	2,798,992		138,610	6.53	%	2,145,555		114,818	7.06	%
Loans receivable (a) (b) (d)	13,160,917		551,769	5.61	%	11,669,754		499,461	5.72	%
Mortgage-backed securities (c)	2,228,326		54,024	3.23	%	1,791,479		36,552	2.72	%
Investment securities (c) (d)	306,677		7,960	3.46	%	277,338		5,420	2.61	%
FHLB stock, at cost	38,563		2,567	8.90	%	23,080		1,336	7.74	%
Other interest-earning deposits	125,197		3,082	3.25	%	209,320		6,789	4.28	%
Total interest-earning assets	15,859,680		619,402	5.22	%	13,970,971		549,558	5.26	%
Noninterest-earning assets (e)	1,081,020					972,376

Total assets	$	16,940,700				$	14,943,347

Liabilities and shareholders’ equity
Interest-bearing liabilities:
Savings deposits	$	2,430,620	19,521	1.07	%	$	2,250,418	19,653	1.17	%
Interest-bearing demand deposits	2,977,822		25,667	1.15	%	2,662,521		22,513	1.13	%
Money market deposit accounts	2,714,331		38,680	1.91	%	2,200,063		30,748	1.87	%
Time deposits	2,882,195		68,897	3.20	%	2,683,081		73,117	3.64	%
Total interest-bearing deposits (g)	11,004,968		152,765	1.86	%	9,796,083		146,031	1.99	%
Borrowed funds (f)	467,894		13,744	3.93	%	260,392		7,618	3.91	%
Subordinated debt	108,072		6,266	7.65	%	114,661		3,631	4.22	%
Junior subordinated debentures	130,183		5,716	5.79	%	129,922		6,327	6.42	%
Total interest-bearing liabilities	11,711,117		178,491	2.04	%	10,301,058		163,607	2.12	%
Noninterest-bearing demand deposits (g)	3,102,212					2,721,350
Noninterest-bearing liabilities	214,804					232,909

Total liabilities	15,028,133					13,255,317

Shareholders’ equity	1,912,567					1,688,030