This Week
  • Schneiderman aiming to curb violations of mental health parity law.

  • Blue Cross Arena general manager Jeff Calkins draws top talent in a competitive market.

  • Twenty years ago, RIT pioneered one of today's top degree programs: software engineering.

  • Martino Flynn LLC plans to grow revenue by 5 percent to 10 percent this year.

  • Steve Glickman wants to infuse Rochester region with new ideas, perspectives.

  • The Schools Report Card has rankings for 27 districts and more than 250 schools.

Northwest Bancshares Q1 profit shrinks

Rochester Business Journal
April 21, 2014

Northwest Bancshares Inc. on Monday reported a 4.3 percent drop in quarterly net income, missing analyst expectations for earnings per share by a penny.

The Warren, Pa.-based parent of Northwest Savings Bank in the Rochester market reported net income of $14.6 million, or 16 cents per diluted share, down from $15.3 million, or 17 cents a share, in the first quarter of 2013.

Wall Street estimated earnings of 17 cents per share.

“Our operating results for the first quarter did not meet our expectations due primarily to the deterioration of two commercial loans,” President and CEO William Wagner said in a news release.

Northwest Savings Bank ranks 14th in the Rochester market with local deposits of $137.3 million.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google