Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 216

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 216
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 participant. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. These risk participation agreements are recorded within other liabilities on the Consolidated Statement of Financial Condition at their estimated fair value. Changes to the fair value of the risk participation agreements are included in other operating income in the Consolidated Statement of Income.        

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

The following table presents information regarding our derivative financial instruments at the dates indicated. Amounts in the table below are presented gross without the impact of any net collateral agreements (in thousands): Asset derivativesLiability derivativesNotional amountFair valueNotional amountFair valueAt December 31, 2024Derivatives designated as hedging instruments:  Interest rate swap agreements $125,000 1,529 50,000 32 Derivatives not designated as hedging instruments: Interest rate swap agreements 780,177 37,697 780,177 37,767 Foreign exchange swap agreements5,724 199 2,690 4 Interest rate lock commitments17,426 342 — — Forward commitments1,509 34 — — Risk participation agreements— — 129,439 16 Total derivatives $929,836 39,801 962,306 37,819 At December 31, 2023Derivatives designated as hedging instruments:Interest rate swap agreements$75,000 713 100,000 1,198 Derivatives not designated as hedging instruments:Interest rate swap agreements725,139 41,406 725,139 41,437 Foreign exchange swap agreements— — 12,278 291 Interest rate lock commitments21,857 641 — — Forward commitments28112 — — Risk participation agreements— — 101,727 14 Total derivatives$822,277 42,772 939,144 42,940 The following table presents income or expenses recognized on derivatives for the periods indicated (in thousands):For the years ended December 31,202420232022Hedging derivatives:Decrease in interest expense$2,659 1,573 —