Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 360

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 360
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 insurance(1.0)%(1.0)%(0.9)%Stock-based compensation— %— %0.1 %Dividends on stock plans(0.5)%(0.4)%(0.5)%Low income housing and historic tax credits— %— %(0.2)%Other0.6 %0.5 %0.6 %Effective tax rate22.6 %22.9 %23.0 %

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

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2024 and 2023 are presented below: December 31,20242023Deferred tax assets:  Deferred compensation expense$3,761 5,001 Bad debts26,497 28,483 Other reserves3,909 4,511 Accrued post-retirement benefit cost576 477 Stock benefit plans1,950 1,134 Unrealized loss on the fair value of securities available-for-sale39,473 45,985 Deferred income579 35 Lease liability11,253 14,593 Purchase accounting816 698 Net operating loss534 1,058 Other1,470 2,431 Total deferred tax assets90,818 104,406 Deferred tax liabilities:  Pension expense7,243 6,543 Intangible assets18,858 18,041 Mortgage servicing rights465 242 Fixed assets3,891 5,567 Net deferred loan costs2,213 2,412 Right of use asset10,404 13,917 Pension and post-retirement benefits6,890 587 Interest rate derivatives396 134 Other1,950 2,388 Total deferred tax liabilities52,310 49,831 Net deferred tax asset$38,508 54,575 We have $0.2 million of federal net operating loss carryovers subject to the annual limitation under Internal Revenue Code Section 382 at December 31, 2024. The carryovers begin to expire in 2031 and are expected to be fully realized.