Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 122

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 122
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,371 33,100 845,371 33,255 Foreign exchange swap agreements2,709 4 5,445 91 Interest rate lock commitments19,425 433 — — Forward commitments1,954 71 — — Risk participation agreements— — 137,270 31 Total Derivatives$944,459 34,193 1,088,086 34,104 At December 31, 2024Derivatives designated as hedging instruments:Interest rate swap agreements$125,000 1,529 50,000 32 Derivatives not designated as hedging instruments: Interest rate swap agreements 780,177 37,697 780,177 37,767 Foreign exchange swap agreements5,724 199 2,690 4 Interest rate lock commitments17,426 342 — — Forward commitments1,509 34 — — Risk participation agreements— — 129,439 16 Total derivatives $929,836 39,801 962,306 37,819 The following table presents income or expense recognized on derivatives for the periods indicated (in thousands):For the quarter ended March 31,20252024Hedging derivatives:Decrease in interest expense$294 733 Non-hedging swap derivatives:(Decrease)/increase in other income(381)287 Increase/(decrease) in mortgage banking income162 (115)The following table presents information regarding our derivative financial instruments designated as hedging for the quarter ended March 31, 2025 (dollars in thousands):Notional amountEffective rateEstimated decrease to interest expense in the next twelve monthsMaturity dateRemaining term (in months)Interest rate products:Issued May 11, 2023$25,000 3.46 %$(308)5/11/202725Issued May 12, 202325,000 3.50 %(296)5/12/202837Issued May 19, 202325,000 3.77 %(222)11/19/202732Issued May 31, 202325,000 4.00 %(168)11/30/202620Issued July 26, 202325,000 4.21 %(122)7/26/202840Issued July 31, 202325,000 4.