Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 50

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 50
---
 board meetings on December 16, 2024, the parties executed and delivered the Merger Agreement and related ancillary documents after market closing. Penns Woods and Northwest announced the execution of the Merger Agreement by a joint press release on December 17, 2024 issued prior to market opening. Northwest’s Reasons for the Merger Northwest believes the Merger is in the best interests of Northwest and its stockholders. In reaching this determination, the Northwest board of directors consulted with its management, as well as its financial, accounting and legal advisors, and considered the projected pro forma impact of the Merger and a number of other factors, including, without limitation, the following:

| • |     | each of Northwest’s, Penns Woods’, and the combined company’s business, operations, financial                                                                                                                            
 condition, asset quality, earnings, and prospects. In reviewing these factors, including the information obtained through due diligence, Northwest considered that Penns Woods’ business and operations and risk profile |

33

| complement those of Northwest, and that the Merger and the other transactions contemplated by the Merger Agreement would result in a combined company with an expanded distribution and scale that 
 would position Northwest to serve an expanded customer base while still staying true to its community banking roots;                                                                               |

| • |     | the strategic rationale for the Merger, including enhancing scale and geographic reach of Northwest in core 
 markets;                                                                                                    |

| • |     | the long-term interests of Northwest and its stockholders, as well as the interests of its employees, customers 
 and the communities in which Northwest operates;                                                                |

| • |     | the opportunity to acquire an organization with deep community banking relationships; |

| • |     | enhanced market share in North Central Pennsylvania and expansion into attractive markets in Northeast 
 Pennsylvania;                                                                                          |

| • |     | the cost savings and other benefits of size and operating efficiencies that Northwest believes it can realize; |

| • |     | the opportunity to improve Northwest’s financial metrics, including return on average assets, return on                                    
 average tangible common equity, efficiency ratio and earnings per share if the cost savings and other operating efficiencies are achieved; |

| • |     | enhanced liquidity of Northwest’s shares of common stock as the result of the issuance of shares of common 
 stock in the Merger; and                                                                                   |

| • |     | the size and structure of the transaction allows Northwest to maintain its strong capital position; additionally,       
 Northwest Bank will also maintain a strong capital position allowing the organization to expand within