Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 177

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 177
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 based upon membership, level of borrowings, collateral balances or participation in other programs. As a former member of the FHLB of Indianapolis, we are required to maintain a minimum investment in the capital stock of the FHLB of Indianapolis based upon participation in certain past programs. Our investment in the capital stock of the FHLB of Pittsburgh at December 31, 2024 and December 31, 2023 was $18 million and $27 million, respectively. In addition, our investment in the capital stock of the FHLB of Indianapolis at December 31, 2024 and December 31, 2023 was $3 million. We received dividends on capital stock during the years ended December 31, 2024 and 2023 of $2 million and $3 million, respectively.

(8)    Premises and Equipment

 Premises and equipment at December 31, 2024 and 2023 are summarized by major classification in the following table: December 31, 20242023Land and land improvements$22,072 23,905 Office buildings and improvements124,797 140,443 Furniture, fixtures and equipment137,404 133,513 Leasehold improvements26,984 23,547 Total, at cost311,257 321,408 Less accumulated depreciation and amortization(187,011)(182,570)Premises and equipment, net$124,246 138,838      Depreciation and amortization expense for the years ended December 31, 2024, 2023, and 2022 was $11 million, $12 million, and $12 million, respectively.

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Table of ContentsNORTHWEST BANCSHARES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

(9)    Goodwill and Other Intangible Assets

 The following table provides information for intangible assets subject to amortization for the years ended December 31, 2024 and 2023:  December 31, 20242023Amortizable intangible assets:  Core deposit intangibles - gross$74,899 74,899 Less: accumulated amortization(72,062)(69,609)Core deposit intangibles - net$2,837 5,290