Company: NWBI
Filing Date: 2025-01-27
Form Type: S-4
Source: 0001193125-25-012768
Chunk: 86

Company: Northwest Bancshares, Inc.
Filing Date: 2025-01-27
Form: S-4
Chunk 86
---
of Northwest common stock. Because the possibility of dividend treatment depends primarily upon each holder’s particular circumstances, including the application of certain constructive ownership rules, U.S. holders of Penns Woods common stock
should consult their tax advisors regarding the application of the foregoing rules to their particular circumstances.

60

Backup Withholding and Reporting Requirements

Under certain circumstances, cash payments made to a U.S. holder of Penns Woods common stock pursuant to the Merger may be subject to backup
withholding at a rate of 28% of the cash payable to the holder, unless the holder furnishes its taxpayer identification number in the manner prescribed in applicable Treasury Department regulations, and otherwise complies with all applicable
requirements of the backup withholding rules. Any amounts withheld from payments to a holder under the backup withholding rules are not an additional tax and will be allowed as a refund or credit against the holder’s U.S. federal income tax
liability, provided that the required information is timely furnished to the Internal Revenue Service.

A U.S. holder of Penns Woods
common stock owning at least 5% (by vote or value) of the outstanding shares of Penns Woods common stock or having a basis of $1,000,000 or more in its Penns Woods common stock, immediately before the Merger, is required to file a statement with
such holder’s U.S. federal income tax return setting forth such holder’s tax basis in and the fair market value of shares of the Penns Woods common stock exchanged by such holder pursuant to the Merger. In addition, all U.S. holders of
Penns Woods common stock will be required to retain records pertaining to the Merger.

The preceding 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