Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 184

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 184
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 provision/(benefit)26,465 45,041 45,530 Deferred  tax provision/(benefit):    Federal2,315 (5,267)(5,325)    State 488 347 (179)       Total deferred tax provision/(benefit)2,803 (4,920)(5,504)Total income tax expense$29,268 40,121 40,026 A reconciliation of the expected federal statutory income tax rate to the effective rate, expressed as a percentage of pretax income for the years ended December 31, 2024, 2023 and 2022, is as follows: Years ended December 31, 202420232022Expected tax rate21.0 %21.0 %21.0 %Tax-exempt interest income(1.8)%(1.2)%(1.1)%State income tax, net of federal benefit4.3 %4.0 %4.0 %Bank-owned life insurance(1.0)%(1.0)%(0.9)%Stock-based compensation— %— %0.1 %Dividends on stock plans(0.5)%(0.4)%(0.5)%Low income housing and historic tax credits— %— %(0.2)%Other0.6 %0.5 %0.6 %Effective tax rate22.6 %22.9 %23.0 %

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

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2024 and 2023 are presented below: December 31,20242023Deferred tax assets:  Deferred compensation expense$3,761 5,001 Bad debts26,497 28,483 Other reserves3,909 4,511 Accrued post-retirement benefit cost576 477 Stock benefit plans1,950 1,134 Unrealized loss on the fair value of securities available-for-sale39,473 45,985 Deferred income579 35 Lease liability11,253