Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 180

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 180
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175,000 5.71 %Notes payable to the FHLB of Pittsburgh, due within one year— — %163,500 5.70 %Collateralized borrowings, due within one year22,323 1.73 %35,495 1.72 %Collateral received, due within one year3,008 4.65 %24,900 5.26 %      Total borrowed funds$200,331 $398,895  Borrowings from the Federal Home Loan Banks (“FHLB”) of Pittsburgh, if any, are secured by our residential first mortgage and other qualifying loans. At December 31, 2024, the carrying value of these loans was $5.7 billion. Certain of these borrowings are subject to restrictions or penalties in the event of prepayment.  The revolving line of credit with the FHLB of Pittsburgh carries a commitment of $250 million. The rate is adjusted daily by the FHLB of Pittsburgh, and any borrowings on this line may be repaid at any time without penalty. At December 31, 2024 and December 31, 2023, the balance of the revolving line of credit was $0 million and $164 million, respectively. At December 31, 2024 and December 31, 2023, collateralized borrowings due within one year were $22 million and $35 million, respectively. These borrowings are collateralized by cash or various securities held in safekeeping by the FHLB. At December 31, 2024, the carrying value of the cash and securities used as collateral was $36 million. At December 31, 2024 and December 31, 2023, collateral received was $3 million and $25 million, respectively. This represents collateral posted to us from our derivative counterparties. At December 31, 2024 and December 31, 2023, term notes payable to the FHLB of Pittsburgh due within one year were $175 million. The December 31, 2024 total is made up of seven advance each for $25 million.

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

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