Company: NWBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001471265-25-000137
Chunk: 62

Company: Northwest Bancshares, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 62
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 the Merger Agreement), converted, in accordance with the procedures set forth in the Merger Agreement, into a right to receive 2.385 shares of common stock, $0.01 par value, of the Company.

Comparison of Financial Condition

Total assets at June 30, 2025 were $14.5 billion, an increase of $77 million from December 31, 2024. This increase in assets was primarily driven by increases in marketable securities and loans receivable. A discussion of significant changes follows.

Cash and cash equivalents decreased by $21 million, or 7%, to $267 million at June 30, 2025, from $288 million at December 31, 2024 due to these funds being invested into higher yielding loans and marketable securities.  

Total marketable securities remained flat at $1.9 billion at June 30, 2025, increasing by $55 million, or 3%, from December 31, 2024. Available-for-sale securities increased by $86 million, driven by a increase in net portfolio purchases during the quarter, while held-to-maturity securities decreased $31 million, driven by maturities and regular monthly cash flows. 

Gross loans receivable was $11.3 billion at June 30, 2025, increasing $162 million from December 31, 2024. Our personal banking loan portfolio increased by $98 million, to $6.4 billion at June 30, 2025 while our commercial banking loans increased by $64 million, to $4.9 billion at June 30, 2025.  This increase represents organic loan growth resulting from our vehicle loan portfolio and the new commercial lending verticals that we implemented during the prior year. Specifically, our vehicle loans increased by $214 million, or 11%, while our commercial and industrial (C&I) loan portfolio increased by $131 million, or 7% compared to December 31, 2024.

The following table provides the various loan sectors in our commercial real estate portfolio at June 30, 2025:

Property typePercent of portfolio 5 or more unit dwelling13.8 %Retail Building13.2 Nursing Home11.3 Commercial office building - non-owner occupied9.9 Manufacturing & industrial building6.6 Warehouse/storage building4.3 Commercial office building - owner occupied4.1 Multi-use building