Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 87

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 87
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 FDIC-insured institution, by placing multiple interest-bearing demand accounts at other member banks and Northwest receives an equal amount of deposits from other member banks. The balance carried an average cost of 3.68%.

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The following table sets forth the dollar amount of deposits in the various types of accounts we offered at the dates indicated.

 At December 31, 20242023 BalancePercent (1)Rate (2)BalancePercent (1)Rate (2) (Dollars in thousands)Savings deposits$2,171,251 17.9 %1.12 %$2,105,234 17.6 %0.42 %Demand deposits5,287,919 43.5 %0.52 %5,303,569 44.3 %0.22 %Money market deposit accounts2,007,739 16.5 %1.72 %1,968,218 16.4 %1.26 %Time deposits:Maturing within 1 year2,547,129 21.0 %4.08 %2,464,022 20.6 %4.44 %Maturing 1 to 3 years109,727 0.9 %1.96 %98,229 0.8 %0.86 %Maturing more than 3 years20,789 0.2 %0.46 %40,630 0.3 %0.24 %Total certificates2,677,645 22.1 %4.46 %2,602,881 21.7 %2.31 %Total deposits$12,144,554 100.0 %1.69 %$11,979,902 100.0 %0.88 %

  (1)   Represents percentage of total deposits.

  (2)   Represents weighted average nominal rate at year end.

The following table sets forth the dollar amount of deposits in each state by branch location as of December 31, 2024.

StateBalancePercent (Dollars in thousands)Pennsylvania$7,550,050 62.1 %New York2,814,777 23.2 %Ohio727,003 6.0 %Indiana1,052,724 8.7