Northwest Bancshares, Inc. (NWBI) 2006年年度报告「NASDAQ」.pdf

1、NORTHWEST BANCORP,INC.A N N U A L R E P O R TD E C E M B E R 3 1,2 0 0 6Where people make the difference.LETTER TO SHAREHOLDERSDear Shareholders:The calendar year ended December 31,2006 was both rewarding and challenging for our Company.It was also a year during which much was accomplished in addres

2、sing the strategic objectives necessary to position Northwest for the future.As we refl ect on the activities of 2006,we note three signifi cant events which dominated the year:We were rewarded with a 29.2%increase in the market value of our stock.We were challenged by the current interest rate envi

3、ronment which caused our net interest income to fall by$7.1 million or 4.0%.This decrease contributed greatly to our$5.2 million,or 9.2%,decrease in net income for the year.We made signifi cant progress in our efforts to restructure our balance sheet,change our strategic direction,improve our operat

4、ions and position Northwest for the future.A closer look at these three events will not only shed light on the activities of the past year,but also provide insight as to the future direction of our Company.Increase in the Market Value of Our StockThe price of Northwests common shares began the 2006

5、calendar year at$21.26 per share and closed on December 31,2006 at$27.46,resulting in a 29.2%increase in market value.We attribute Northwests exceptional performance to the following four factors:A continued gradual increase in our quarterly dividends from$0.16 per share in the fi rst quarter to$0.2

6、0 per share in the fourth quarter.Total dividends paid per share in 2006 were$0.70,a 30%increase over 2005 when dividends of$0.54 were paid.The continued repurchase of our shares as we reduced the number of publicly traded shares by 341,500 Additional recognition by investors as to the value of mutu