LNB Bancorp (LNBB) 19.38 $LNBB
Northwest Bancshares reports Q4 2015 net income of USD16m
M2 - Mon Feb 01, 7:41AM CST
Northwest Bancshares, Inc. (NASDAQGS: NWBI) has reported net income for the quarter ended December 31, 2015 of USD16.2 million, or USD0.16 per diluted share, representing a decrease of USD1.1 million, or 6.6 percent, compared to the same quarter last year when net income was USD17.3 million, or USD0.19 per diluted share, the company said. Annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 5.83 percent and 0.77 percent compared to 6.42 percent and 0.88 percent for the same quarter last year. Earnings for the current quarter include acquisition expenses of USD1.3 million relating to the merger of LNB Bancorp, Inc. on August 14, 2015. Excluding the after-tax impact of these expenses, non-GAAP net operating income for the quarter was USD17.1 million, or USD0.17 per diluted share. The non-GAAP annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 6.16 percent and 0.82 percent. The company also announced that its board of directors has declared a quarterly cash dividend of USD0.15 per share payable on February 18, 2016, to shareholders of record as of February 4, 2016. This represents a 7.1 percent increase over the prior quarter and is the 85th consecutive quarter in which the company has paid a cash dividend. Net interest income increased by USD8.6 million, or 13.7 percent, to USD71.2 million for the quarter ended December 31, 2015, from USD62.6 million for the quarter ended December 31, 2014. This increase was due primarily to an increase in interest income on loans receivable of USD9.7 million, or 13.6 percent, as a result of internal loan growth of USD304.1 million over the prior year, while the LNB acquisition provided net loans of USD928.1 million. Partially offsetting this increase was a decrease in interest received on tax-free investment securities of USD631,000 and an increase in interest expense of USD504,000 due primarily to the addition of USD1.034 billion in deposits from the LNB acquisition. Noninterest income increased by USD2.3 million, or 13.5 percent, to USD19.5 million for the quarter ended December 31, 2015, from USD17.2 million for the quarter ended December 31, 2014. Net income for the year ended December 31, 2015 of USD60.5 million represents a decrease of USD1.5 million, or 2.3 percent, compared to net income of USD62.0 million for the year ended December 31, 2014. Northwest Bancshares, Inc. is the holding company of Northwest Bank. Founded in 1896, Northwest 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.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares, Inc. Announces Fourth Quarter 2015 Earnings and Increase in Quarterly Dividend
PR Newswire - Mon Jan 25, 3:01PM CST
Northwest Bancshares, Inc. (NasdaqGS: NWBI) announced net income for the quarter ended December 31, 2015 of $16.2 million, or $0.16 per diluted share. This represents a decrease of $1.1 million, or 6.6%, compared to the same quarter last year when net income was $17.3 million, or $0.19 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 5.83% and 0.77% compared to 6.42% and 0.88% for the same quarter last year. Earnings for the current quarter include acquisition expenses of $1.3 million relating to the merger of LNB Bancorp, Inc. ("LNB"
on August 14, 2015. Excluding the after-tax impact of these expenses, non-GAAP net operating income for the quarter was $17.1 million, or $0.17 per diluted share. The non-GAAP annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 6.16% and 0.82%.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares, Inc. Announces Third Quarter 2015 Earnings and Quarterly Dividend
PR Newswire - Mon Oct 26, 10:40AM CDT
Northwest Bancshares, Inc. (NasdaqGS: NWBI) announced net income for the quarter ended September 30, 2015 of $12.9 million, or $0.13 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended September 30, 2015 were 4.54% and 0.59%. Earnings for the current quarter include acquisition expenses of $7.6 million relating to the merger of LNB Bancorp, Inc. ("LNB" on August 14, 2015. Excluding the after-tax impact of these expenses, non-GAAP net operating income for the quarter was $17.9 million, or $0.19 per diluted share, compared to $17.3 million, or $0.19 per diluted share in the same quarter last year. The non-GAAP annualized returns on average shareholders' equity and average assets for the quarter ended September 30, 2015 were 6.30% and 0.82% compared to 6.43% and 0.87% in the previous year.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares (NWBI) Closes LNB Bancorp Merger
Zacks Equity Research - Zacks Investment Research - Mon Aug 17, 2:35PM CDT
Northwest Bancshares, Inc. (NWBI) closed the merger deal with LNB Bancorp, Inc. (LNBB) on Aug 14. The successful completion of this deal has opened gates to the attractive Ohio markets for Northwest Bancshares and will be immediately accretive to its earnings.
NWBI: 14.81 (+0.12), FBC: 25.03 (+0.27), LNBB: 19.38 (+0.86), ANCB: 24.25 (+0.80)
Northwest Bancshares, Inc. Completes Merger with LNB Bancorp, Inc.
PR Newswire - Fri Aug 14, 5:10PM CDT
Northwest Bancshares, Inc. (NASDAQ: NWBI), the holding company for Northwest Bank, announced today that it has successfully completed its merger with LNB Bancorp, Inc. (NASDAQ: LNBB), the holding company for The Lorain National Bank.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
LNB posts 2Q profit
Automated Insights - Tue Aug 04, 7:36AM CDT
LORAIN, Ohio (AP) _ LNB Bancorp Inc. (LNBB) on Tuesday reported second-quarter profit of $2.3 million.
LNBB: 19.38 (+0.86)
LNB Bancorp, Inc. Reports Second Quarter 2015 Results:
BusinessWire - Tue Aug 04, 7:25AM CDT
--Loan balances grew by $26.5 million and deposits grew by $2.3 million as compared to the same quarter one year ago.
LNBB: 19.38 (+0.86)
Northwest Bancshares, Inc. Selects Robert Campana To Serve As Director Following Merger With LNB Bancorp, Inc. And Lorain National Bank
PR Newswire - Thu Jul 16, 4:28PM CDT
Northwest Bancshares, Inc., the parent company of Northwest Bank, announced today that its board of directors has selected Robert Campana to serve as a director, effective upon the completion of the merger of LNB Bancorp, Inc. and Lorain National Bank with and into Northwest Bancshares, Inc. and Northwest Bank. Mr. Campana will also serve as a director of Northwest Bank. Mr. Campana currently serves as a director of both LNB Bancorp, Inc. and Lorain National Bank. The merger is expected to be completed August 14, 2015.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Names Kevin Nelson To Be Ohio Region President
PR Newswire - Thu Jul 16, 4:28PM CDT
Northwest Bancshares, Inc. and Northwest Bank announced today, that in conjunction with their merger of LNB Bancorp, Inc. and Lorain National Bank, Kevin Nelson will be named Ohio Region President. The merger is expected to occur August 14, 2015.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
LNB Bancorp, Inc. Declares Regular Quarterly Dividend
BusinessWire - Tue May 19, 9:33AM CDT
The Board of Directors of LNB Bancorp, Inc. (NASDAQ: LNBB) has declared a second quarter 2015 cash dividend of $.03 a share, payable on July 1, 2015 to shareholders of record on May 29, 2015.
LNBB: 19.38 (+0.86)
LNB Bancorp, Inc. Reports First Quarter 2015 Results
BusinessWire - Thu Apr 30, 7:37AM CDT
--First quarter net income available to common shareholders of $1.85 million, an increase of 17.6% as compared to the same quarter one year ago.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares reports Q4 2015 net income of USD16m
M2 - Mon Feb 01, 7:41AM CST
Northwest Bancshares, Inc. (NASDAQGS: NWBI) has reported net income for the quarter ended December 31, 2015 of USD16.2 million, or USD0.16 per diluted share, representing a decrease of USD1.1 million, or 6.6 percent, compared to the same quarter last year when net income was USD17.3 million, or USD0.19 per diluted share, the company said. Annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 5.83 percent and 0.77 percent compared to 6.42 percent and 0.88 percent for the same quarter last year. Earnings for the current quarter include acquisition expenses of USD1.3 million relating to the merger of LNB Bancorp, Inc. on August 14, 2015. Excluding the after-tax impact of these expenses, non-GAAP net operating income for the quarter was USD17.1 million, or USD0.17 per diluted share. The non-GAAP annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 6.16 percent and 0.82 percent. The company also announced that its board of directors has declared a quarterly cash dividend of USD0.15 per share payable on February 18, 2016, to shareholders of record as of February 4, 2016. This represents a 7.1 percent increase over the prior quarter and is the 85th consecutive quarter in which the company has paid a cash dividend. Net interest income increased by USD8.6 million, or 13.7 percent, to USD71.2 million for the quarter ended December 31, 2015, from USD62.6 million for the quarter ended December 31, 2014. This increase was due primarily to an increase in interest income on loans receivable of USD9.7 million, or 13.6 percent, as a result of internal loan growth of USD304.1 million over the prior year, while the LNB acquisition provided net loans of USD928.1 million. Partially offsetting this increase was a decrease in interest received on tax-free investment securities of USD631,000 and an increase in interest expense of USD504,000 due primarily to the addition of USD1.034 billion in deposits from the LNB acquisition. Noninterest income increased by USD2.3 million, or 13.5 percent, to USD19.5 million for the quarter ended December 31, 2015, from USD17.2 million for the quarter ended December 31, 2014. Net income for the year ended December 31, 2015 of USD60.5 million represents a decrease of USD1.5 million, or 2.3 percent, compared to net income of USD62.0 million for the year ended December 31, 2014. Northwest Bancshares, Inc. is the holding company of Northwest Bank. Founded in 1896, Northwest 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.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares, Inc. Announces Fourth Quarter 2015 Earnings and Increase in Quarterly Dividend
PR Newswire - Mon Jan 25, 3:01PM CST
Northwest Bancshares, Inc. (NasdaqGS: NWBI) announced net income for the quarter ended December 31, 2015 of $16.2 million, or $0.16 per diluted share. This represents a decrease of $1.1 million, or 6.6%, compared to the same quarter last year when net income was $17.3 million, or $0.19 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 5.83% and 0.77% compared to 6.42% and 0.88% for the same quarter last year. Earnings for the current quarter include acquisition expenses of $1.3 million relating to the merger of LNB Bancorp, Inc. ("LNB"
on August 14, 2015. Excluding the after-tax impact of these expenses, non-GAAP net operating income for the quarter was $17.1 million, or $0.17 per diluted share. The non-GAAP annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2015 were 6.16% and 0.82%. NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares, Inc. Announces Third Quarter 2015 Earnings and Quarterly Dividend
PR Newswire - Mon Oct 26, 10:40AM CDT
Northwest Bancshares, Inc. (NasdaqGS: NWBI) announced net income for the quarter ended September 30, 2015 of $12.9 million, or $0.13 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended September 30, 2015 were 4.54% and 0.59%. Earnings for the current quarter include acquisition expenses of $7.6 million relating to the merger of LNB Bancorp, Inc. ("LNB"
on August 14, 2015. Excluding the after-tax impact of these expenses, non-GAAP net operating income for the quarter was $17.9 million, or $0.19 per diluted share, compared to $17.3 million, or $0.19 per diluted share in the same quarter last year. The non-GAAP annualized returns on average shareholders' equity and average assets for the quarter ended September 30, 2015 were 6.30% and 0.82% compared to 6.43% and 0.87% in the previous year. NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Bancshares (NWBI) Closes LNB Bancorp Merger
Zacks Equity Research - Zacks Investment Research - Mon Aug 17, 2:35PM CDT
Northwest Bancshares, Inc. (NWBI) closed the merger deal with LNB Bancorp, Inc. (LNBB) on Aug 14. The successful completion of this deal has opened gates to the attractive Ohio markets for Northwest Bancshares and will be immediately accretive to its earnings.
NWBI: 14.81 (+0.12), FBC: 25.03 (+0.27), LNBB: 19.38 (+0.86), ANCB: 24.25 (+0.80)
Northwest Bancshares, Inc. Completes Merger with LNB Bancorp, Inc.
PR Newswire - Fri Aug 14, 5:10PM CDT
Northwest Bancshares, Inc. (NASDAQ: NWBI), the holding company for Northwest Bank, announced today that it has successfully completed its merger with LNB Bancorp, Inc. (NASDAQ: LNBB), the holding company for The Lorain National Bank.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
LNB posts 2Q profit
Automated Insights - Tue Aug 04, 7:36AM CDT
LORAIN, Ohio (AP) _ LNB Bancorp Inc. (LNBB) on Tuesday reported second-quarter profit of $2.3 million.
LNBB: 19.38 (+0.86)
LNB Bancorp, Inc. Reports Second Quarter 2015 Results:
BusinessWire - Tue Aug 04, 7:25AM CDT
--Loan balances grew by $26.5 million and deposits grew by $2.3 million as compared to the same quarter one year ago.
LNBB: 19.38 (+0.86)
Northwest Bancshares, Inc. Selects Robert Campana To Serve As Director Following Merger With LNB Bancorp, Inc. And Lorain National Bank
PR Newswire - Thu Jul 16, 4:28PM CDT
Northwest Bancshares, Inc., the parent company of Northwest Bank, announced today that its board of directors has selected Robert Campana to serve as a director, effective upon the completion of the merger of LNB Bancorp, Inc. and Lorain National Bank with and into Northwest Bancshares, Inc. and Northwest Bank. Mr. Campana will also serve as a director of Northwest Bank. Mr. Campana currently serves as a director of both LNB Bancorp, Inc. and Lorain National Bank. The merger is expected to be completed August 14, 2015.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
Northwest Names Kevin Nelson To Be Ohio Region President
PR Newswire - Thu Jul 16, 4:28PM CDT
Northwest Bancshares, Inc. and Northwest Bank announced today, that in conjunction with their merger of LNB Bancorp, Inc. and Lorain National Bank, Kevin Nelson will be named Ohio Region President. The merger is expected to occur August 14, 2015.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
LNB Bancorp, Inc. Declares Regular Quarterly Dividend
BusinessWire - Tue May 19, 9:33AM CDT
The Board of Directors of LNB Bancorp, Inc. (NASDAQ: LNBB) has declared a second quarter 2015 cash dividend of $.03 a share, payable on July 1, 2015 to shareholders of record on May 29, 2015.
LNBB: 19.38 (+0.86)
LNB Bancorp, Inc. Reports First Quarter 2015 Results
BusinessWire - Thu Apr 30, 7:37AM CDT
--First quarter net income available to common shareholders of $1.85 million, an increase of 17.6% as compared to the same quarter one year ago.
NWBI: 14.81 (+0.12), LNBB: 19.38 (+0.86)
