Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 84

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 84
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 or any consequences under the Foreign Account Tax Compliance Act of 2010 (including the Treasury Department regulations issued thereunder and intergovernmental agreements entered into pursuant thereto or in connection therewith). Determining the actual tax consequences of the Merger may be complex. They will depend on specific situations and on factors that are not within the control of Penns Woods or Northwest. All holders of Penns Woods common stock should consult their tax advisors as to the specific tax consequences of the Merger to them, including the applicability and effect of the alternative minimum tax and any state, local, foreign, and other tax laws, your basis in any Northwest common stock received in the Merger, your holding period with respect to any Northwest common stock received in the Merger, your tax return reporting requirements, or the applicability and effect of any proposed changes in any tax laws. The following discussion summarizes the matters addressed in the tax opinion of Dinsmore & Shohl LLP filed as an exhibit to the registration statement of which this proxy statement/prospectus is a part. Reorganization Treatment The Merger is intended to be a reorganization within the meaning of Section 368(a)(1)(A) of the Internal Revenue Code, and Northwest and Penns Woods are each intended to be a “party to the reorganization” within the meaning of Section 368(b) of the Internal Revenue Code. If the intended reorganization treatment is 59

respected by the Internal Revenue Service and the courts, then the material federal income tax consequences described below are anticipated.

Federal Income Tax Consequences to Northwest and Penns Woods

No Gain or Loss. No gain or loss will be recognized by Northwest or Penns Woods as a result of the Merger.

Tax Basis. The aggregate tax basis of the assets of Penns Woods in the hands of Northwest will be the same as the aggregate tax
basis of such assets in the hands of Penns Woods immediately prior to the Merger.

Holding Period. The holding period of the
assets of Penns Woods to be received by Northwest will include the period during which such assets were held by Penns Woods.

Exchange Solely for Northwest Common Shares

A U.S. holder of Penns Woods common stock that exchanges all of its Penns Woods common stock solely for Northwest common stock pursuant to the
Merger will not recognize gain or loss in connection with such exchange (except with respect to cash in lieu of fractional shares of Northwest common stock as discussed in more detail under “Cash in Lieu of Fractional