Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 300

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 300
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 and reliability of such data, factors, and assumptions. In addition, we involved credit risk professionals with specialized skills and knowledge, who assisted in:

•evaluating the Company’s collective ACL methodologies for compliance with U.S. generally accepted accounting principles

•evaluating judgments made by the Company relative to the development and performance testing of the model assumptions, inclusive of the metrics used for asset-specific risk characteristics for the mortgage, home equity, and vehicle models, by comparing them to relevant Company-specific metrics and trends and the applicable industry and regulatory practices

•assessing the conceptual soundness and performance testing of the model assumptions by inspecting the model documentation to determine whether the models are suitable for their intended use

•evaluating the selection and weighting of the macroeconomic forecasts by comparing it to the Company’s business environment and relevant industry practices

•evaluating the length of the reasonable and supportable forecast period by comparing it to specific portfolio risk characteristics and trends

•evaluating the methodology used to develop the qualitative factors

We also assessed the sufficiency of the audit evidence obtained related to the collective ACL by evaluating the cumulative results of the audit procedures, qualitative aspects of the Company’s accounting practices, and potential bias in the accounting estimate.

/s/ KPMG LLP

We have served as the Company’s auditor since 1963.

Pittsburgh, Pennsylvania

February 25, 2025

70

NORTHWEST BANCSHARES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(in thousands, excluding share data) December 31, 20242023Assets  Cash and cash equivalents $288,378 122,260 Marketable securities available-for-sale (amortized cost of $1,278,665 and $1,240,003, respectively)1,108,944 1,043,359 Marketable securities held-to-maturity (fair value of $637,948 and $699,506, respectively)750,586 814,839 Total cash and cash equivalents and marketable securities2,147,908 1,980,458 Loans held-for-sale76,331 8,768 Loans held for investment11,180,014 11,406,041 Allowance for credit losses(116,819)(125,243)Loans receivable, net11,063,195 11,280,798 FHLB stock, at cost21,006 30,