Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 263

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 263
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1,244,219 10.3 %11 Less collateralized deposit accounts413,479 3.4 %224 Uninsured deposits excluding intercompany and collateralized accounts$1,473,533 12.1 %4,998

(1)     Uninsured deposits presented may be different from actual amounts due to titling of accounts.

Our largest uninsured depositor, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $26.2 million, or 0.22% of total deposits, as of December 31, 2024. Our top ten largest uninsured depositors, excluding intercompany and collateralized deposit accounts, had an aggregate uninsured deposit balance of $167.4 million, or 1.38% of total deposits, as of December 31, 2024. The average uninsured deposit account balance, excluding intercompany and collateralized accounts, was $295,000 as of December 31, 2024.

48

Borrowings. Borrowings decreased by $198 million, or 39%, to $315 million at December 31, 2024 from $513 million at December 31, 2023. This decrease was a result of growth in lower cost deposits which enabled the paydown of FHLB advances during the year.

The following table sets forth information concerning our borrowings at the dates and for the periods indicated.  During the years ended December 31, 20242023 (Dollars in thousands)FHLB borrowings:  Average balance outstanding$254,033 568,350 Maximum outstanding at end of any month during year493,300 787,300 Balance outstanding at end of year175,000 338,500 Weighted average interest rate during year5.49 %5.37 %Weighted average interest rate at end of year4.64 %5.70 %Collateralized borrowings:Average balance outstanding$26,061 63,694 Maximum outstanding at end of any month during year35,278 101,059 Balance outstanding at end of year22,323 35,495 Weighted average interest rate during year1.71 %1.09 %Weighted average interest rate at end of year1.73 %1.72 %Collateral received:Average balance outstanding$31,326