Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 185

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 185
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14,593 Purchase accounting816 698 Net operating loss534 1,058 Other1,470 2,431 Total deferred tax assets90,818 104,406 Deferred tax liabilities:  Pension expense7,243 6,543 Intangible assets18,858 18,041 Mortgage servicing rights465 242 Fixed assets3,891 5,567 Net deferred loan costs2,213 2,412 Right of use asset10,404 13,917 Pension and post-retirement benefits6,890 587 Interest rate derivatives396 134 Other1,950 2,388 Total deferred tax liabilities52,310 49,831 Net deferred tax asset$38,508 54,575 We have $0.2 million of federal net operating loss carryovers subject to the annual limitation under Internal Revenue Code Section 382 at December 31, 2024. The carryovers begin to expire in 2031 and are expected to be fully realized. We have $20 million of Indiana net operating loss carryovers subject to annual limitation as Indiana conforms to the Internal Revenue Code Section 382 at December 31, 2024. The carryovers begin to expire in 2025. Due to limitation, we do not currently expect to realize $8 million of the Indiana net operating loss carryover. This is netted against the net operating loss deferred tax asset in the preceding table. The holding company has net operating loss carryforwards with the state of Pennsylvania of $102 million as of December 31, 2024 and $85 million as of December 31, 2023. The company has recorded a full valuation allowance against these carryforward attributes of Northwest Bancshares Inc. as it is not expected to realize these losses given the profitability of Northwest Bancshares for Pennsylvania tax purposes. The valuation allowance is netted against the net operating loss in the preceding table. We recorded $0.2 million a valuation allowance against state deferred tax assets of a Northwest subsidiary since the subsidiary is not expected to utilize its deferred tax assets in the foreseeable future. This valuation allowance is netted against the net operating loss in the preceding table.Other than stated above, we have determined that no valuation allowance is necessary for the deferred tax assets because it is more likely than not that these assets will be realized through future reversals of existing temporary differences and through future taxable income. We will continue to review the criteria related to