Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 379

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 379
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 FHLMC— 189,661 — 189,661 Total mortgage-backed securities— 861,291 — 861,291 Interest rate lock commitments— — 641 641 Forward commitments— 12 — 12 Interest rate swaps designated as hedging instruments— 713 — 713 Interest rate swaps not designated as hedging instruments— 41,406 — 41,406 Total assets$— 1,085,490 641 1,086,131 Foreign exchange swaps$— 291 — 291 Interest rate swaps designated as hedging instruments— 1,198 — 1,198 Interest rate swaps not designated as hedging instruments— 41,437 — 41,437 Risk participation agreements— 14 — 14 Total liabilities$— 42,940 — 42,940 The following table presents the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the year ended December 31, 2024 and 2023: Years ended December 31, 20242023Beginning balance January 1,$641 559 Net activity(299)82 Transfers from Level 3— — Transfers into of Level 3— — Ending balance December 31,$342 641  Certain assets and liabilities are measured at fair value on a nonrecurring basis after initial recognition such as loans individually assessed, real estate owned, and MSRs. 

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

The following table represents the fair market measurement for only those nonrecurring assets that had a fair market value below the carrying amount as of December 31, 2024:Level 1Level 2Level 3Total assets at fair valueLoans individually assessed$— — 9,801 9,801 Mortgage servicing rights— — 20 20 Real estate owned, net— — 35 35 Total assets$— — 9,856 9,856  The following table represents the fair market measurement for only those nonrecurring assets that had a fair market value below the carrying amount as of December