Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 105

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 105
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    Borrowed Funds 

(a)    Borrowings Borrowed funds at March 31, 2025 and December 31, 2024 are presented in the following table (dollars in thousands):March 31, 2025December 31, 2024AmountAverage rateAmountAverage rateTerm notes payable to the FHLB of Pittsburgh, due within one year$175,000 4.61 %$175,000 4.64 %Collateralized borrowings, due within one year18,672 1.75 %22,3231.73 %Collateral received, due within one year3,598 4.53 %3,008 4.65 %      Total borrowed funds$197,270 $200,331     Borrowings from the Federal Home Loan Bank (“FHLB”) of Pittsburgh, if any, are secured by our residential first mortgage and other qualifying loans. At March 31, 2025, the carrying value of these loans was $5.7 billion. Certain of these borrowings are subject to restrictions or penalties in the event of prepayment.The revolving line of credit with the FHLB of Pittsburgh carries a commitment of $250 million. The rate is adjusted daily by the FHLB of Pittsburgh, and any borrowings on this line may be repaid at any time without penalty. There was no balance on the revolving line of credit at March 31, 2025 and December 31, 2024.At March 31, 2025 and December 31, 2024, collateralized borrowings due within one year were $19 million and $22 million, respectively. These borrowings are collateralized by cash or various securities held in safekeeping by the FHLB. At March 31, 2025, the carrying value of the cash and securities used as collateral was $36 million.At March 31, 2025 and December 31, 2024, collateral received was $4 million and $3 million, respectively. This represents collateral posted to us from our derivative counterparties.  

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At March 31, 2025 and December 31, 2024, term notes payable to the FHLB of Pittsburgh due within one year were $175 million. The The March 31, 2025 total is made up of seven advances each for $25 million.On September 9, 202