Company: NWBI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001471265-25-000161
Chunk: 102

Company: Northwest Bancshares, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 102
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 2024. These results combine the historical results of Penns Woods in the Company's Consolidated Statements of Income and while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place on January 1, 2024. No adjustments have been made to the pro forma results regarding possible revenue enhancements or expense efficiencies. Pro forma adjustments below include the net impact of Penns Woods loan accretion, CDI amortization and the elimination of merger-related costs and  day 1 provision expense for non-PCD acquired loans. The Company expects to achieve further operating cost savings and other business synergies, as a result of the acquisition, which are not reflected in the pro forma amounts below (dollars in thousands):Proforma (unaudited)Proforma (unaudited)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Total revenues (1)$174,672 160,312 526,381 429,656 Net income available to common shareholders34,790 39,643 130,464 85,198 (1) Includes net interest income and total noninterest incomeThe Company's operating results for the three and nine months ended September 30, 2025 includes the operating results of the acquired assets and assumed liabilities of Penns Woods subsequent to the acquisition on July 25, 2025. Due to the conversion of Penns Woods systems occurring at the merger date, as well as other streamlining and integration of the operating activities into those of the Company, historical reporting for the former Penns Woods operations is impracticable and thus disclosures of the revenue from the assets acquired and net income is impracticable for the period subsequent to acquisition.

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 (3)    Marketable Securities

 The following table shows the portfolio of marketable securities available-for-sale at September 30, 2025 (in thousands):AmortizedcostGrossunrealizedholdinggainsGrossunrealizedholdinglossesFairvalueDebt issued by the U.S government and agencies:Due after one year through five years$1,762 11 (18)1,755 Due after ten years42,581 — (8,165)34,416 Debt issued by government-sponsored enterprises:Due after one year through five years1,055 6 (3)1,