Northwest Bancshares Inc., parent of Northwest Savings Bank in the Rochester market, Tuesday reported a profit of $16.3 million, or 18 cents a share, in the fourth quarter.
The bank’s earnings beat Wall Street estimates by 2 cents a share.
Net income rose 8 percent from $15.2 million, or 16 cents a share, in the fourth quarter of 2011, the Warren, Pa.-based bank reported.
Full-year net income totaled $63.6 million, down 1 percent from $64.2 million in 2011, the bank reported.
Northwest Savings Bank ranks 16th in the Rochester market with local deposits of $147.1 million, data from the Federal Deposit Insurance Corp. show.
Shares of Northwest Bancshares (NASDAQ: NWBI) midday were trading at $12.32, up 14 cents from its previous close.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.
eMail
View All Comments
Print
Reprints
