Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 129

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 129
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)Balance at December 31, 20221,270 1,019,647 641,727 (171,158)1,491,486 Comprehensive income:     Net income— — 134,957 — 134,957 Other comprehensive income, net of tax of  $(8,373)— — — 21,666 21,666 Total comprehensive income— — 134,957 21,666 156,623 Adoption of ASU No. 2022-02— — (329)— (329)Exercise of stock options1 629 — — 630 Stock-based compensation expense1 4,575 — — 4,576 Stock-based compensation forfeited(1)1 — — — Dividends paid ($0.80 per share)— — (101,669)— (101,669)Balance at December 31, 20231,271 1,024,852 674,686 (149,492)1,551,317 Comprehensive income:     Net income— — 100,278 — 100,278 Other comprehensive income, net of tax of ($13,265)— — — 38,578 38,578 Total comprehensive income— — 100,278 38,578 138,856 Exercise of stock options2 2,453 — — 2,455 Stock-based compensation expense2 6,080 — — 6,082 Dividends paid ($0.80 per share)— — (101,854)— (101,854)Balance at December 31, 2024$1,275 1,033,385 673,110 (110,914)1,596,856 

 See accompanying notes to Consolidated Financial Statements.

74

NORTHWEST BANCSHARES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands) Years ended December 31, 202420232022Operating activities:   Net income$100,278 134,957 133,666 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses24,505 22,874 28,315 Loss on sale of investments