Northwest's (NASDAQ:NWBI) net income rose in the second quarter.
Earnings and Revenue The company announced EPS of 17 cents a share against the 17 cents a share estimate.
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The company's net income for the quarter was $16.4 million. According to the reported number, this is up 9.3% from last year's levels.
Company Fundamental Trends
History Against Expectations The company fell in line with estimates last quarter after missing the mark in the previous two quarters. In the first quarter, it fell short by one cent, and in the fourth quarter of the last fiscal year, it missed by one cent.
Official Comment: William J. Wagner, President and CEO, noted, "In the most recent quarter we continued to see many positive trends in our operations. We were pleased with the stability of our margin despite the continued challenges of the interest rate environment and competitive pricing pressures. During the quarter we experienced net loan growth of approximately $65 million, while asset quality continued to improve. Delinquent and non-accrual loans at the end of the quarter were at the lowest levels since the second quarter of 2008. Finally, through the hard work and dedication of our Board of Directors and employees in strengthening our compliance management system, we were pleased to announce the termination of the FDIC Consent Order on July 6, 2012."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.