Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 65

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 65
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 as determining the median) is not in itself a meaningful method of using relevant public company data. Stephens selected the following twenty-two(22) public companies based on the criteria set forth below: Includes nationwide major exchange-traded (1)banks and thrifts with most recent quarter total assets between $12 and $18 billion, excluding merger targets and mutuals

| Renasant Corp. (RNST)                 
 Pacific Premier Bancorp (PPBI)        
 Hope Bancorp, Inc. (HOPE)             
 TowneBank (TOWN)                      
 ServisFirst Bancshares, Inc. (SFBS)   
 Community Financial Systems (CBU)     
 Banner Corp. (BANR)                   
 Hilltop Holdings Inc. (HTH)           
 International Bancshares Corp. (IBOC) 
 CVB Financial Corp. (CVBF)            
 Seacoast Banking Corp. of FL (SBCF)   |     | Enterprise Financial Services (EFSC)   
 NBT Bancorp Inc. (NBTB)                
 Dime Community Bancshares, Inc. (DCOM) 
 First Financial Bankshares (FFIN)      
 OceanFirst Financial Corp. (OCFC)      
 First Foundation Inc. (FFWM)           
 BancFirst Corp. (BANF)                 
 Veritex Holdings, Inc. (VBTX)          
 FB Financial Corp. (FBK)               
 Live Oak Bancshares, Inc. (LOB)        
 First Bancorp (FBNC)                   |

Note:

| (1) | Major exchange-traded banks includes banks traded on NYSE, NYSEAM and NASDAQ exchanges. |

To perform this analysis, Stephens reviewed publicly available financial information as of and for the last twelve month period ended September 30 th, 2024, or the most recently reported period available, and the market trading multiples of the selected public companies based on December 13 th, 2024 closing prices. The financial data 45

included in the table presented below may not correspond precisely to the data reported in historical financial statements as a result of the assumptions and methods used by Stephens to compute the financial data presented. The table below contains information reviewed and utilized by Stephens in its analysis:

| Company                        |     | Ticker |     | Total  
 Assets 
 ($M)   |        |     | Loans /  
 Deposits 
 (%)      |      |   |     | TCE  
 / TA 
 (%)  |      |   |     | NIB /    
 Total    
 Deposits 
 (%)      |