Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 1

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 1
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,042 Accrued interest payable6,843 6,935 Other liabilities157,858 173,134 Total liabilities12,824,772 12,811,368 Shareholders’ equity:  Preferred stock, $0.01 par value: 50,000,000 authorized, no shares issued— — Common stock, $0.01 par value: 500,000,000 shares authorized, 127,736,303 and 127,508,003 shares                                      issued and outstanding, respectively1,277 1,275 Additional paid-in capital1,035,093 1,033,385 Retained earnings691,066 673,110 Accumulated other comprehensive loss(98,481)(110,914)Total shareholders’ equity1,628,955 1,596,856 Total liabilities and shareholders’ equity$14,453,727 14,408,224 

See accompanying notes to unaudited Consolidated Financial Statements.

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Table of Contents

NORTHWEST BANCSHARES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(in thousands, except share data) 

Quarter ended March 31, 20252024Interest income:  Loans receivable$164,638 149,571 Mortgage-backed securities11,730 7,944 Taxable investment securities933 794 Tax-free investment securities512 491 FHLB stock dividends366 607 Interest-earning deposits2,416 832 Total interest income180,595 160,239 Interest expense:  Deposits47,325 47,686 Borrowed funds5,452 9,315 Total interest expense52,777 57,001 Net interest income127,818 103,238 Provision for credit losses - loans8,256 4,234 Provision/(benefit)  for credit losses - unfunded commitments(345)(799)Net interest income after provision for credit losses119,907 99,803 Noninterest income:  Gain on sale of SBA loans1,238 873 Service charges and fees14,987 15,523 Trust and other financial services income7,910 7,127 Gain on real estate owned, net84 57 Income from bank-owned life insurance1,331 1,