Company: NWBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001471265-25-000137
Chunk: 162

Company: Northwest Bancshares, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 162
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 offset by a decrease in time deposits of $233 million.  Interest expense on deposits decreased by $6 million, or 11% from the quarter ended June 30, 2024, and by $6 million, or 6% from the six months ended June 30, 2024, primarily attributable to decrease in average yield and an increase in average balance of deposit accounts as we continued competitively positioning our deposit products.

Compared to the quarter ended June 30, 2024, average borrowings saw a 36% reduction. This decrease was attributable to the strategic pay-down of wholesale borrowings with the proceeds from our investment portfolio restructuring in the second quarter of 2024. The decrease in the average balance of borrowings resulted in a decrease in interest expense on borrowings by $2 million from the quarter ended June 30, 2024 and $6 million from the six months ended June 30, 2024.

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Table of Contents

 Average Balance Sheet

(in thousands)

The following table sets forth certain information relating to the Company’s average balance sheet and reflects the average yield on interest-earning assets and average cost of interest-bearing liabilities for the periods indicated. Such yields and costs are derived by dividing income or expense by the average balance of assets or liabilities, respectively, for the periods presented. Average balances are calculated using daily averages. 

 Quarter ended June 30, 20252024AveragebalanceInterestAvg.yield/cost (h)AveragebalanceInterestAvg.yield/cost (h)Assets      Interest-earning assets:     Residential mortgage loans$3,091,324 29,978 3.88 %$3,342,749 32,182 3.85 %Home equity loans1,145,655 16,265 5.69 %1,183,497 17,303 5.88 %Consumer loans2,073,103 28,648 5.54 %2,048,396 26,334 5.17 %Commercial real estate loans2,836,757 43,457 6.06 %3,023,762 45,658 5.97 %Commercial loans2,102,115 37,287 7.02 %1,770,345 33,229 7.43 %Loans receivable (a) (b) (d) (includes F