Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 217

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 217
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Non-hedging swap derivatives:Increase/(decrease) in other income444 (613)(83)(Decrease)/increase in mortgage banking income(277)(34)1,368 The following table presents information regarding our derivative financial instruments designated as hedging for the year ended December 31, 2024 (dollars in thousands):Notional amountEffective rateEstimated decrease to interest expense in the next twelve monthsMaturity dateRemaining term (in months)Interest rate products:Issued May 11, 2023$25,000 3.46 %$(334)5/11/202728Issued May 12, 202325,000 3.50 %(322)5/12/202840Issued May 19, 202325,000 3.78 %(248)11/19/202735Issued May 31, 202325,000 4.04 %(194)11/30/202623Issued July 26, 202325,000 4.18 %(150)7/26/202843Issued July 31, 202325,000 4.29 %(128)1/31/202837Issued August 9, 202325,000 4.27 %(133)8/9/202731Total$175,000 $(1,509) 

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

Our derivatives are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements. Additionally, collateral exchanged with counterparties is also netted against the applicable derivative fair values. We enter into derivative transactions with two primary groups, banks and our customers. Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups.  The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of December 31, 2024 (1) (dollars in thousands).Derivative assetsGross amounts of recognized assetsGross amounts offset in the consolidated statement of financial conditionNet amounts of assets presented in the consolidated of conditionInterest rate swaps - hedging$1,529 (32)1,497 Interest