This Week
  • The new Golisano Children's Hospital will be dedicated next week.

  • Citizens Bank leader outlines plans in visit.

  • The last six years have brought quite a transformation to Mirror Show Management.

  • For Christopher Thorpe of Darien Lake Theme & Water Park Resort, work is about having fun.

  • Local banks are getting ready to migrate to the global standard for secure payments.

  • Aprille Byam launched StoryChick to help people begin conversations.

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