Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 2

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 2
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502 Mortgage banking income696 452 Other operating income2,109 2,429 Total noninterest income28,355 27,963 Noninterest expense:  Compensation and employee benefits54,540 51,540 Premises and occupancy costs8,400 7,627 Office operations2,977 2,767 Collections expense328 336 Processing expenses13,990 14,725 Marketing expenses1,880 2,149 Federal deposit insurance premiums2,328 3,023 Professional services2,756 4,065 Amortization of intangible assets504 701 Merger, asset disposition and restructuring expense1,123 955 Other expenses2,911 2,136 Total noninterest expense91,737 90,024 Income before income taxes56,525 37,742 Federal and state income taxes expense13,067 8,579 Net income$43,458 29,163 Basic earnings per share$0.34 0.23 Diluted earnings per share$0.34 0.23 

 See accompanying notes to unaudited Consolidated Financial Statements.

2

NORTHWEST BANCSHARES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (Unaudited)

(in thousands)

Quarter ended March 31, 20252024Net income$43,458 29,163 Other comprehensive income/(loss) net of tax:  Net unrealized holding gains/(losses) on marketable securities:  Unrealized holding gains/(losses), net of tax of ($4,483) and $1,758, respectively13,863 (5,698)Net unrealized holding gains/(losses) on marketable securities13,863 (5,698)Change in fair value of interest rate swaps, net of tax of  $378 and ($630),  respectively(1,261)2,154 Defined benefit plan:  Actuarial reclassification adjustments for prior period service costs and actuarial gains included in net income, net of tax of $64 and $147, respectively(169)(388)Other comprehensive income/(loss)12,433 (3,932)Total comprehensive income$55,891 25,231 

See accompanying notes to unaudited Consolidated Financial