Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 272

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 272
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 2023. The primary driver of the increase over the past year is reflective of the Company’s exposure to the Long Term Healthcare segment and the challenges a few operators have experienced post Covid.

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In determining the amount of the current period provision, we considered current economic conditions, including unemployment levels, bankruptcy filings, and changes in collateral values, and assessed the impact of these factors on the quality of our loan portfolio and historical loss experience. We analyze the allowance for credit losses as described in the section entitled “Allowance for Credit Losses”. The provision that is recorded is sufficient, in our judgment, to bring this reserve to a level that reflects the current expected lifetime losses in our loan portfolio relative to loan mix, a reasonable and supportable economic forecast period and historical loss experience at December 31, 2024.

Noninterest Income

Breakdown of noninterest income for the year ended December 31, Change from 2023Change from 20232024Amount Percent2023AmountPercent2022Noninterest income:Loss on sale of investments$(39,413)(31,106)374 %$(8,307)(8,299)NA$(8)Gain on sale of mortgage servicing rights— (8,305)(100)%8,305 8,305 NA— Gain on sale of SBA loans3,819 2,019 112 %1,800 1,800 NA— Service charges and fees62,957 3,743 6 %59,214 4,026 7 %55,188 Trust and other financial services income30,102 2,818 10 %27,284 (481)(2)%27,765 Income from bank-owned life insurance6,327 (2,261)(26)%8,588 1,459 20 %7,129 Other operating income (1)23,218 6,279 37 %16,939 (3,836)(18)%20,775 Total noninterest (loss)/income$87,010 (26,813)(24)%$113,823 2,974 3 %$110,849 

(1)    Other noninterest income includes the net gain on real estate owned, mortgage banking income, and other operating income. See the “Consolidated Statements of Income” in Item 1. Financial Statements of this report. 

Noninterest income decreased by $27 million, or