Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 85

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 85
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 discussion of material U.S. federal income tax consequences of the Merger is included in this proxy statement/prospectus for general information only, and is intended only as a summary of material U.S. federal income tax consequences of the Merger. It is not a complete analysis or discussion of all potential tax effects that may be important to you and is not tax advice.

Each Penns Woods shareholder should consult with his, her or its own tax advisor regarding the specific tax consequences to the shareholder of the Merger, including the application and effect of state, local and foreign income and other tax laws.

Accounting Treatment

The Merger will be accounted for under the acquisition method of accounting in accordance with generally accepted accounting principles in the
United States. Under the acquisition method of accounting, the assets and liabilities of Penns Woods will be recorded and assumed at estimated fair values at the time the Merger is consummated. The excess of the estimated fair value of
Northwest common stock issued and the cash proceeds paid over the net fair values of the assets acquired, including identifiable intangible assets, and liabilities assumed will be recorded as goodwill and will not be deductible for income tax
purposes. Goodwill will be subject to an annual test for impairment and the amount impaired, if any, will be charged as an expense at the time of impairment.

Resale of Northwest Common Stock

Northwest has registered its common stock to be issued in the Merger with the SEC under the Securities Act of 1933, as amended (the
“Securities Act”). No restrictions on the sale or other transfer of Northwest common stock issued in the Merger will be imposed solely as a result of the Merger, except for restrictions on the transfer of Northwest common stock issued
to any Penns Woods shareholder who may become an “affiliate” of Northwest for purposes of Rule 144 under the Securities Act. The term “affiliate” is defined in Rule 144 under the Securities Act and generally includes
executive officers, directors and shareholders beneficially owning 10% or more of the outstanding Northwest common stock.

Employee Matters

Participation by Penns Woods Employees in Northwest’s Employee Benefit Program(s): The Merger Agreement provides that
employees of Penns Woods or the Subsidiary Banks who become employees of Northwest as a result of the Merger will participate in the employee benefit plans sponsored by Northwest for

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Northwest’s employees. Employees of Penns Woods or the Subsidiary Banks will receive credit for their years of service with Penn