Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 203

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 203
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 assets and liabilities measured at fair value on a recurring basis as of December 31, 2023:     Level 1Level 2Level 3Total atfair valueDebt securities:    U.S. government and agencies$— 58,314 — 58,314 Government sponsored enterprises— 40,597 — 40,597 States and political subdivisions— 75,469 — 75,469 Corporate— 7,688 — 7,688 Total debt securities— 182,068 — 182,068 Residential mortgage-backed securities:    GNMA— 17,441 — 17,441 FNMA— 102,678 — 102,678 FHLMC— 70,830 — 70,830 Non-agency— 5 — 5 Collateralized mortgage obligations:    GNMA— 331,784 — 331,784 FNMA— 148,892 — 148,892 FHLMC— 189,661 — 189,661 Total mortgage-backed securities— 861,291 — 861,291 Interest rate lock commitments— — 641 641 Forward commitments— 12 — 12 Interest rate swaps designated as hedging instruments— 713 — 713 Interest rate swaps not designated as hedging instruments— 41,406 — 41,406 Total assets$— 1,085,490 641 1,086,131 Foreign exchange swaps$— 291 — 291 Interest rate swaps designated as hedging instruments— 1,198 — 1,198 Interest rate swaps not designated as hedging instruments— 41,437 — 41,437 Risk participation agreements— 14 — 14 Total liabilities$— 42,940 — 42,940 The following table presents the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the year ended December 31, 2024 and 2023: Years ended December 31, 20242023Beginning balance January 1,$641 559 Net activity(299)82 Transfers from Level 3— — Transfers into of Level 3— — Ending balance December 31,$342 641  Certain assets and liabilities are measured