Company: NWBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001471265-25-000137
Chunk: 145

Company: Northwest Bancshares, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 145
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 of common stock of Penns Woods converted into the right to receive 2.385 shares of the Company’s common stock or a total of 18,226,469 shares of common stock of the Company valued at $230 million, based on the $12.63 per share closing price of the Company's stock on July 25, 2025.  Additionally, any unexercised stock options of Penns Woods outstanding were cancelled in exchange for a cash payment at the spread value over the exercise price valued at $4 million. The transaction has resulted the Company having approximately $17 billion in total assets, providing banking services through 151 financial centers and 10 free standing drive-up facilities in four states. The transaction expanded the Company's franchise by 21 full-service offices located in Pennsylvania.

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Table of Contents

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. We have 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:

•    the possibility that any of the anticipated benefits of the Merger (as defined below) will not be realized or will not be realized within the expected time period; the risk that integration of the operations of Penns Woods operations with those of the Company will be materially delayed or will be more costly or difficult than expected; the diversion of management’s attention from ongoing business operations and opportunities due to the integration of Penns Woods' operations with those of the Company; the challenges of integrating and retaining key employees; the effect of the Merger on the combined company’s customer and employee relationships and operating results; and other factors that may affect the results of operations and financial condition of the combined company;

•    inflation and changes in the interest rate environment that reduce our margins, our loan origination, or the fair value of financial instruments;