Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 63

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 63
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 BHC data not available. Core defined by S&P Global Market Intelligence.

| (1) | NPAs/Assets excludes restructured loans from nonperforming assets. |

| (2) | Core earnings is based on GAAP financials and adjusted for nonrecurring items. |

44

Relevant Public Companies Analysis – Northwest: Stephens compared the financial condition, operating statistics and market valuation of Northwest to certain public companies selected by Stephens and their respective public trading values. Stephens selected the companies outlined below because their relative asset size and financial performance, among other factors, were reasonably similar to Northwest; however, no selected company below was identical or directly comparable to Northwest. A complete analysis involves complex considerations and qualitative judgments concerning differences in financial and operating characteristics and other factors that could affect the public trading values of the relevant public companies. Mathematical analysis (such as determining the median) is not in itself a meaningful method of using relevant public company data. Stephens selected the following twenty-two(22) public companies based on the criteria set forth below: Includes nationwide major exchange-traded (1)banks and thrifts with most recent quarter total assets between $12 and $18 billion, excluding merger targets and mutuals

| Renasant Corp. (RNST)                 
 Pacific Premier Bancorp (PPBI)        
 Hope Bancorp, Inc. (HOPE)             
 TowneBank (TOWN)                      
 ServisFirst Bancshares, Inc. (SFBS)   
 Community Financial Systems (CBU)     
 Banner Corp. (BANR)                   
 Hilltop Holdings Inc. (HTH)           
 International Bancshares Corp. (IBOC) 
 CVB Financial Corp. (CVBF)            
 Seacoast Banking Corp. of FL (SBCF)   |     | Enterprise Financial Services (EFSC)   
 NBT Bancorp Inc. (NBTB)                
 Dime Community Bancshares, Inc. (DCOM) 
 First Financial Bankshares (FFIN)      
 OceanFirst Financial Corp. (OCFC)      
 First Foundation Inc. (FFWM)           
 BancFirst Corp. (BANF)                 
 Veritex Holdings, Inc. (VBTX)          
 FB Financial Corp. (FBK)               
 Live Oak Bancshares, Inc. (LOB)        
 First Bancorp (FBNC)                   |

Note:

| (1) | Major exchange-traded banks includes banks traded on NYSE, NYSEAM and NASDAQ exchanges. |

To perform this analysis, Stephens reviewed publicly available financial information as of and