Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 5

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 5
---
 of premises and equipment, net(1,822)(5,471)Net cash used in investing activities(45,936)(143,587)Financing activities:Net increase in deposits29,602 91,742 Net (decrease)/increase in short-term borrowings(3,061)1,888 Increase in advances by borrowers for taxes and insurance2,079 1,717 Cash dividends paid on common stock(25,502)(25,422)Proceeds from stock options exercised31 20 Net cash provided by financing activities3,149 69,945 Net increase/(decrease) in cash and cash equivalents$64,825 (2,941)Cash and cash equivalents at beginning of period$288,378 122,260 Net increase/(decrease) in cash and cash equivalents64,825 (2,941)Cash and cash equivalents at end of period$353,203 119,319 Cash paid during the period for:Interest on deposits and borrowings                                                                                                                                (including interest credited to deposit accounts of $40,140 and $37,257, respectively)$52,869 53,275 Income taxes774 612 Non-cash activities:Loan foreclosures and repossessions$850 1,148 

See accompanying notes to unaudited Consolidated Financial Statements.

5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(1)    Basis of Presentation and Informational Disclosures

 Northwest Bancshares, Inc. (the “Company” or “Northwest”), a Maryland corporation headquartered in Columbus, Ohio, is a bank holding company regulated by the Board of Governors of the Federal Reserve Board (“FRB”). The primary activity of the Company is the ownership of all of the issued and outstanding common stock of Northwest Bank, a Pennsylvania-chartered savings bank (“Northwest Bank”). Northwest Bank is regulated by the Federal Deposit Insurance Corporation (“FDIC”) and the Pennsylvania Department of Banking and Securities. Northwest Bank operates 141 community-banking offices throughout Pennsylvania, Western New York, Eastern Ohio, and Indiana. The accompanying unaudited Consolidated Financial Statements include the accounts of the Company and its subsidiary, Northwest Bank, and Northwest’s subsidiaries Northwest Capital Group, Inc., Great Northwest Corporation, and Mutual Federal Interest Company, Inc. The unaudited Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with