Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 76

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 76
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-taxcash transaction costs of $36 million, fully reflected in tangible book value at the 54

completion of the proposed Merger; and (iii) estimated purchase accounting adjustments and adjustments for CECL accounting standards. Such prospective financial information assumed a
hypothetical June 30, 2025 closing date for the proposed Merger.

Regulatory Approvals Required

To complete the Merger and Subsidiary Bank Mergers, Northwest and Penns Woods need to obtain approvals or consents from, or make filings with,
a number of U.S. federal and state bank and other regulatory authorities. Subject to the terms of the Merger Agreement, Northwest and Penns Woods have agreed to cooperate with each other and use reasonable best efforts to promptly prepare and file
all necessary documentation, to effect all applications, notices, petitions and filings, to obtain as promptly as practicable all permits, consents, approvals and authorizations of all third parties and governmental entities which are necessary or
advisable to consummate the transactions contemplated by the Merger Agreement (including the Merger and the Subsidiary Bank Mergers), and to comply with the terms and conditions of all such permits, consents, approvals and authorizations of all such
third parties and governmental entities. These approvals include, among others, the approval, nonobjection and/or waivers of the Merger by the Federal Reserve and the Subsidiary Bank Mergers by the FDIC and the DoBS. Northwest will submit an
application or waiver request to the Federal Reserve for approval or nonobjection of the Merger and an application to the Federal Reserve and DoBS for approval of the Subsidiary Bank Mergers for approval.

The approval of any regulatory applications merely implies the satisfaction of regulatory criteria for approval, which does not include review
of the adequacy or fairness of the Merger Consideration to Penns Woods shareholders. Furthermore, regulatory approvals do not constitute or imply any endorsement or recommendation of the Merger or the terms of the Merger Agreement.

Northwest and Penns Woods believe that the Merger does not raise significant regulatory concerns and that they will be able to obtain all
requisite regulatory approvals. However, there can be no assurance that all of the regulatory approvals described herein will be obtained and, if obtained, there can be no assurances regarding the timing of the approvals, the companies’ ability
to obtain the approvals on satisfactory terms or the absence of litigation challenging such approvals. In addition, there can be no