Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 176

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 176
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 are recorded in other assets on the Consolidated Statements of Financial Condition.Capitalized MSRs are evaluated quarterly for impairment based on the estimated fair value of those rights. The MSRs are stratified by certain risk characteristics, primarily loan term and note rate. If impairment exists within a risk stratification tranche, a valuation allowance is established through a charge to income equal to the amount by which the carrying value exceeds the fair value. If it is later determined all or a portion of the temporary impairment no longer exists for a particular tranche, the valuation allowance is reduced or eliminated. We do not directly hedge against realized or potential future impairment losses on our MSRs.

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

The following table shows changes in MSRs as of and for the years ended December 31, 2024 and 2023:Servicing rightsValuation allowanceNet carrying value and fair valueBalance at December 31, 2022$7,802 (7)7,795 Additions788 (1)787 MSR sale(5,930)— (5,930)Amortization(1,551)— (1,551)Balance at December 31, 20231,109 (8)1,101 Additions558 6 564 Amortization(433)— (433)Balance at December 31, 2024$1,234 (2)1,232 

(6)    Accrued Interest Receivable

 Accrued interest receivable as of December 31, 2024 and 2023 is presented in the following table:      December 31, 20242023Investment securities$1,796 1,795 FHLB dividends392 637 Mortgage-backed securities3,741 2,743 Loans receivable40,427 42,178 Total$46,356 47,353 

(7)    FHLB Stock

 Northwest Bank is a member of the FHLB of Pittsburgh and a former member of the FHLB of Indianapolis. As a member of the FHLB of Pittsburgh, we are required to maintain a minimum investment in capital stock of the FHLB of Pittsburgh