Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 75

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 75
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.57 %Tangible common equity to tangible assets (8)8.65 %8.30 %8.03 %Net interest rate spread (3) 2.66 %2.86 %3.11 %Net interest margin (4) 3.26 %3.28 %3.20 %Noninterest expense to average assets (5), (6), (7)2.56 %2.46 %2.32 %Efficiency ratio (5), (6), (7)70.52 %63.98 %62.00 %Noninterest income to average assets0.60 %0.80 %0.78 %Net interest income to noninterest expense (5), (6), (7)1.18x1.24x1.28xDividend payout ratio101.27 %75.47 %76.19 %Nonperforming loans to net loans receivable0.56 %0.86 %0.76 %Nonperforming assets to total assets0.54 %0.67 %0.58 %Allowance for credit losses to nonperforming loans188.24 %129.01 %143.98 %Allowance for credit losses to loans receivable1.04 %1.10 %1.08 %Average interest-earning assets to average interest-bearing liabilities1.35x1.37x1.41xNumber of banking offices141 142 150 

(1)Represents net income divided by average assets.

(2)Represents net income divided by average equity.

(3)Represents average yield on interest-earning assets less average cost of interest-bearing liabilities (shown on a fully taxable equivalent (“FTE”) basis).

(4)Represents net interest income as a percentage of average interest-earning assets (shown on a FTE basis).

(5)    2022 includes $5.6 million in merger, asset disposition and restructuring expense. 

(6)    2023 includes $6.7 million in merger, asset disposition and restructuring expense. 

(7)    2024 includes $5.8 million in merger, asset disposition and restructuring expense and a $39.4 loss on sale of investments. 

(8)    Excludes goodwill and other intangible assets (non-GAAP).

The following non-GAAP financial