Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 179

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 179
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 Generally, deposits in excess of $250,000 are not federally insured. At December 31, 2024 and 2023, we had $1.9 billion and $1.8 billion of deposits in accounts exceeding $250,000, respectively. 

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

The following table summarizes the contractual maturity of time deposits at December 31, 2024 and 2023:      December 31, 20242023Due within 12 months$2,547,129 2,464,022 Due between 12 and 24 months86,594 70,679 Due between 24 and 36 months23,133 27,550 Due between 36 and 48 months11,592 23,590 Due between 48 and 60 months7,395 13,997 After 60 months1,802 3,043 Total time deposits$2,677,645 2,602,881  The following table summarizes the interest expense incurred on the respective deposits for the years ended December 31, 2024, 2023 and 2022: Years ended December 31, 202420232022Interest-bearing demand deposits$27,394 11,606 1,517 Money market deposit accounts34,563 24,734 3,381 Savings deposits24,222 8,822 2,339 Time deposits (1)119,313 60,181 6,883 Total interest expense on deposits$205,492 105,343 14,120 (1)Includes $18 million, $8 million, and $0 of interest expense on brokered deposits at December 31, 2024, 2023, and 2022.

(11)                         Borrowed Funds

 (a)                                 BorrowingsBorrowed funds at December 31, 2024 and 2023 are presented in the following table: At December 31, 20242023 AmountAverage rateAmountAverage rateTerm notes payable to the FHLB of Pittsburgh, due within one year$175,000 4.64 %$