Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 156

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 156
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ORTHWEST BANCSHARES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

As of December 31, 2024 and 2023, we serviced loans for others approximating $244 million and $231 million, respectively. These loans serviced for others are not our assets and are not included in our financial statements.As of December 31, 2024 and 2023, approximately 36% and 38% of our loan portfolio was secured by properties located in Pennsylvania. We do not believe we have significant concentrations of credit risk to any one group of borrowers given our underwriting and collateral requirements.Loans receivable as of December 31, 2024 and 2023 include $4.3 billion and $4.0 billion, respectively, of adjustable rate loans and $6.9 billion and $7.3 billion, respectively, of fixed rate loans.The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the year ended December 31, 2024 (in thousands):Balance as of December 31, 2024Current period provisionCharge-offsRecoveriesBalance as of December 31, 2023Allowance for Credit LossesPersonal Banking:Residential mortgage loans$14,347 (4,473)(845)1,472 18,193 Home equity loans4,845 51 (1,736)1,127 5,403 Vehicle loans22,389 2,509 (8,809)1,778 26,911 Consumer loans1,883 5,022 (5,929)1,591 1,199 Total Personal Banking43,464 3,109 (17,319)5,968 51,706 Commercial Banking:Commercial real estate loans44,328 4,902 (15,321)3,480 51,267 Commercial real estate loans - owner occupied3,882 69 — 38 3,775 Commercial loans25,145 19,599 (14,462)1,513 18,495 Total Commercial Banking73,355 24,570 (29,783)5,031 73,537 Total$116,819 27,679 (47