Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 280

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 280
---
 the year ended December 31, 2024 compared to 0.11% due to the loans noted above being written-down to fair value prior to the sale. Total charge-offs related to the loan sales and transfer to loans held-for-sale was a combined $15 million. 

58

Analysis of the Allowance for Credit Losses. The following table sets forth the analysis of the allowance for credit losses for the periods indicated.

 Years ended December 31, 20242023 (Dollars in thousands)Loans receivable$11,180,014 11,406,041 Average loans outstanding11,285,219 11,100,118 Allowance for credit losses   Balance at beginning of period125,243 118,036 ASU 2022-02 Adoption— 426    Provision for credit losses27,679 18,664    Charge-offs:   Residential mortgage loans(845)(1,189)   Home equity loans(1,736)(852)   Vehicle loans(8,809)(6,468)   Consumer loans (5,929)(5,983)   Commercial real estate loans(15,321)(2,298)   Commercial real estate loans - owner occupied— (68)   Commercial loans(14,462)(4,166)   Total charge-offs(47,102)(21,024)   Recoveries:     Residential mortgage loans1,472 1,636    Home equity loans1,127 709    Vehicle loans1,778 2,021    Consumer loans1,591 1,206    Commercial real estate loans3,480 2,029    Commercial real estate loans - owner occupied 38 66    Commercial loans1,513 1,474    Total recoveries10,999 9,141    Balance at end of period$116,819 125,243 Allowance for credit losses as a percentage of loans receivable1.04 %1.10 %Net charge-offs as a percentage of average loans outstanding:   Residential mortgage loans(0.02)%(0.01)%   Home equity loans0.05 %0.01 %   Vehicle loans0.37 %0.22 %   Consumer loans 4.04 %4.11 %   Commercial real