WARREN, Pa. — Northwest Bancshares, Inc. (NasdaqGS: NWBI) announced net income for the quarter ended September 30, 2013 of $17.6 million, or $0.19 per diluted share.

This represents an increase of $1.9 million, or 12.2%, over the same quarter last year when net income was $15.7 million, or $0.17 per diluted share, and an increase of $4.1 million, or 30.6%, compared to the quarter ended June 30, 2013 when net income was $13.5 million, or $0.15 per diluted share. The annualized returns on average shareholders’ equity and average assets for the current quarter were 6.18% and 0.88% compared to 5.37% and 0.78% for the same quarter last year and 4.79% and 0.68% for the quarter ended June 30, 2013.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share payable on November 14, 2013, to shareholders of record as of October 31, 2013. This represents the 75th consecutive quarter in which the Company has paid a cash dividend.

In making this announcement, William J. Wagner, President and CEO, noted, “In this prolonged environment of low interest rates and relatively weak loan demand, we are especially pleased that our interest rate spread remained flat from the previous quarter, while our net interest margin decreased by just two basis points. This was accomplished by realizing continued growth in both loans and low-cost checking deposits. Also contributing to improved earnings was an increase in noninterest income, led by continued improvement in trust, financial services and insurance income. Finally, our heightened emphasis on controlling operating expense is noticeable in almost every expense category on our income statement.”

Net interest income decreased by $3.2 million, or 4.8%, to $62.5 million for the quarter ended September 30, 2013, from $65.7 million for the quarter ended September 30, 2012, as decreases in interest income on loans receivable and investment securities of $5.3 million and $686,000, respectively, were partially offset by a $3.1 million decrease in interest paid on deposit accounts. These changes from the previous year were due primarily to the continued low level of market interest rates.

The provision for loan losses decreased by $1.9 million, or 27.8%, to $5.0 million for the quarter ended September 30, 2013, from $6.9 million for the quarter ended September 30, 2012. As of September 30, 2013, the allowance for loan losses was $75.9 million, or 1.32% of total loans, compared to $71.2 million, or 1.24% of total loans, as of September 30, 2012 and $73.2 million, or 1.28% of total loans, as of December 31, 2012. Net charge-offs were $1.7 million, or 0.12% for the quarter ended September 30, 2013 compared to $5.8 million, or 0.41% for the same quarter last year. Loans 90 days or more delinquent decreased by $21.9 million, or 27.3%, to $58.5 million as of September 30, 2013 from $80.4 million as of September 30, 2012.

Noninterest income increased by $836,000, or 5.5%, to $16.1 million for the quarter ended September 30, 2013, from $15.3 million for the quarter ended September 30, 2012. This increase is due primarily to a $1.1 million decrease in loss on real estate owned. Additionally, insurance commission income increased by $539,000 as a result of the acquisition of the Bert Company, effective January 1, 2013. Partially offsetting these increases was a decrease in mortgage banking income of $1.3 million, due primarily to slower origination activity.

Noninterest expense decreased by $1.5 million, or 2.9%, to $50.3 million for the quarter ended September 30, 2013, from $51.8 million for the quarter ended September 30, 2012, due primarily to a decrease in marketing expense of $798,000, or 43.6%, which was due to the timing of various campaigns. Additionally, professional services decreased by $608,000, or 31.4%, and compensation and employee benefits decreased by $542,000, or 1.9%, as a result of our continued focus on controlling expenses.

Net income for the nine month period ended September 30, 2013 of $46.4 million represents a decrease of $859,000, or 1.8%, compared to net income of $47.2 million for the nine month period ended September 30, 2012. Diluted earnings per share for the nine month period ended September 30, 2013 increased to $0.51 from $0.50 in the same period last year. The annualized returns on average shareholders’ equity and average assets were 5.47% and 0.78%, respectively, for the current nine month period compared to 5.42% and 0.79%, respectively, in the prior year.

Headquartered in Warren, Pennsylvania, Northwest Bancshares, Inc. is the holding company of Northwest Savings Bank. Founded in 1896, Northwest Savings Bank is a full-service financial institution offering a complete line of business and personal banking products, employee benefits and wealth management services, as well as the fulfillment of business and personal insurance needs. Northwest operates 165 community banking offices in Pennsylvania, New York, Ohio and Maryland and 50 consumer finance offices in Pennsylvania through its subsidiary, Northwest Consumer Discount Company. Northwest Bancshares, Inc.’s common stock is listed on the NASDAQ Global Select Market. Additional information regarding Northwest Bancshares, Inc. can be accessed on-line at www.northwestsavingsbank.com.

Forward-Looking Statements — This release may contain forward-looking statements with respect to the financial condition and results of operations of Northwest Bancshares, Inc. including, without limitations, statements relating to the earnings outlook of the Company. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include among others, the following possibilities: (1) changes in the interest rate environment; (2) competitive pressure among financial services companies; (3) general economic conditions including an increase in non-performing loans; (4) changes in legislation or regulatory requirements; (5) difficulties in continuing to improve operating efficiencies; (6) difficulties in the integration of acquired businesses; and (7) increased risk associated with an increase in commercial real-estate and business loans. Management has no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the date of this release.