Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 88

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 88
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 by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The decline in fair value of the held-to-maturity debt securities were primarily attributable to changes in the interest rate environment and not due to the credit quality of these investment securities, therefore, the Company did not record an allowance for credit losses for these securities as of March 31, 2025. The following table presents the credit quality of our held-to-maturity securities, based on the latest information available as of March 31, 2025 (in thousands). The credit ratings are sourced from nationally recognized rating agencies, which include Moody’s and S&P, and they are presented based on asset type. All of our held-to-maturity securities were current in their payment of principal and interest as of March 31, 2025. AA+TotalHeld-to-maturity securities (at amortized cost):  Debt issued by the U.S. government-sponsored enterprises$124,463 124,463   Mortgage-backed securities611,446 611,446 Total marketable securities held-to-maturity$735,909 735,909 

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(3)    Loans Receivable

The following tables excludes loans held for sale. The following table shows a summary of our loans receivable at amortized cost basis at March 31, 2025 and December 31, 2024 (in thousands): March 31, 2025December 31, 2024Personal Banking: Residential mortgage loans3,121,647 3,178,269 Home equity loans1,141,577 1,149,396 Vehicle loans1,960,397 1,870,843 Consumer loans121,072 124,242 Total Personal Banking6,344,693 6,322,750 Commercial Banking:  Commercial real estate loans2,423,184 2,495,726 Commercial real estate loans - owner occupied369,550 354,136 Commercial loans2,079,018 2,007,402 Total Commercial Banking4,871,752 4,857,264 Total loans receivable, gross11,216,445 11,180,014 Allowance for credit losses(122,809)(116,819)Total loans receivable, net (1)11,093,636 11,063,195 (1) Includes $63