By ALLISSA KLINE
akline@bizjournals.com | 716-541-1612

Quarterly net income at Northwest Bancorp Inc. rose nearly 20 percent for the period ending Dec. 31, 2011, the Warren, Pa., financial institution said this week.

The parent of Northwest Savings Bank, which also operates as Jamestown Savings Bank, reported net income of $15.2 million, or 16 cents per share, for the fourth quarter. A year ago, net income totaled $12.7 million, or 12 cents per share.

Net income for all of 2011 rose in comparison to 2010, but the percentage difference wasn't as high as the year-over-year quarterly improvement. The bank reported $64.1 million, or 64 cents per share, for the year 2011, up 11.5 percent from $57.5 million, or 53 cents per share, for 2010.

Net interest income, meanwhile, dropped slightly during the most recent quarter, a result of a decrease in net interest income stemming from loans, the bank said. It reported $66.5 million in net interest income as of Dec. 31, down from $67.2 million a year ago.

The provision for loan losses fell from $13.9 million during fourth-quarter 2010 to $10.5 million during the same quarter in 2011. Nonperforming loans decreased to $131.1 million from $148.4 million.

Northwest has 168 retail branches in four states, including 14 branches in Western New York. It is the 10th largest deposit-taker in the region, according to Federal Deposit Insurance Corp. data.