Northwest Bancshares, Inc. (NWBI) 2015年年度报告「NASDAQ」.pdf

1、2015 SUMMARY ANNUAL REPORT Our success was highlighted by the acquisition of LNB Bancorp,Inc.and Lorain National Bank,the largest acquisition in the history of our company.However,the integration of this diverse$1.2 billion commercial banking institution also presented our biggest challenge for the

2、year as it utilized significant resources.However,despite this additional workload,we were able to post core earnings that were considerably better than the prior year,while making substantial progress in addressing critical initiatives targeted to improve revenues,enhance efficiency and strengthen

3、the management of risk.Earnings and Shareholder ValueNet income for 2015 was$60.5 million,a decrease of$1.5 million over the previous year when net income was$62.0 million.However,the current year was greatly impacted by acquisition expenses from the LNB merger,of approximately$6.0 million,after tax

4、.Excluding these expenses,net income was$67.0 million,providing a return on average assets and average equity of 0.80%and 6.08%,respectively.The improvement in core income over the previous year was primarily driven by a$10.6 million decrease in the provision for loan losses,as credit quality contin

5、ued to improve in 2015.Given the continued growth in earnings and our robust capital position,the Board of Directors elected to increase the quarterly dividend payment again in 2015 to$0.14 with total dividends of$0.56 per share paid during the year.We are pleased to note that these payments provide

6、d Northwests shareholders with a dividend yield that exceeded 4%.Also contributing value to our shareholders was an increase in the market value of Northwests common shares,which improved by$0.86,or 6%,during 2015.Going forward,our Board and management team remain focused on improving profitability