Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 45

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 45
---
 or expense recognized on derivatives for the periods indicated (in thousands):For the quarter ended March 31,20252024Hedging derivatives:Decrease in interest expense$294 733 Non-hedging swap derivatives:(Decrease)/increase in other income(381)287 Increase/(decrease) in mortgage banking income162 (115)The following table presents information regarding our derivative financial instruments designated as hedging for the quarter ended March 31, 2025 (dollars in thousands):Notional amountEffective rateEstimated decrease to interest expense in the next twelve monthsMaturity dateRemaining term (in months)Interest rate products:Issued May 11, 2023$25,000 3.46 %$(308)5/11/202725Issued May 12, 202325,000 3.50 %(296)5/12/202837Issued May 19, 202325,000 3.77 %(222)11/19/202732Issued May 31, 202325,000 4.00 %(168)11/30/202620Issued July 26, 202325,000 4.21 %(122)7/26/202840Issued July 31, 202325,000 4.26 %(100)1/31/202834Issued August 9, 202325,000 4.27 %(102)8/9/202728Total$175,000 $(1,318) 

33

Our derivatives are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements. Additionally, collateral exchanged with counterparties is also netted against the applicable derivative fair values. We enter into derivative transactions with two primary groups, banks and our customers. Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups.  The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of March 31, 2025 (dollars in thousands).Derivative assetsGross amounts of recognized assetsGross amounts offset in the consolidated statement of financial conditionNet amounts of assets presented in the consolidated of conditionInterest rate swaps - hedging$585 (585)— Interest rate swaps - not hedging33,100 (24,060)9,040 Derivative liabilitiesGross amounts