Company: NWBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001471265-25-000137
Chunk: 80

Company: Northwest Bancshares, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 80
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02 %Junior subordinated debentures129,889 4,204 6.44 %129,630 4,908 7.49 %Total interest-bearing liabilities9,981,951 104,903 2.12 %10,045,853 117,014 2.34 %Noninterest-bearing demand deposits (g)2,600,113 2,581,646  Noninterest-bearing liabilities227,116 260,452  Total liabilities12,809,180   12,887,951   Shareholders’ equity1,626,342 1,545,651   Total liabilities and shareholders’ equity$14,435,522   $14,433,602   Net interest income (FTE)/Interest rate spread (FTE) (d) 249,017 3.16 % 211,793 2.55 %Net interest-earning assets/Net interest margin (FTE)$3,529,145  3.72 %$3,475,527  3.15 %Tax equivalent adjustment (d)1,755 1,714 Net interest income, GAAP basis247,262 210,079 Ratio of interest-earning assets to interest-bearing liabilities1.35X  1.35X  

(a)Average gross loans includes loans held as available-for-sale and loans placed on nonaccrual status.

(b)Interest income includes accretion/amortization of deferred loan fees/expenses, which were not material.

(c)Average balances do not include the effect of unrealized gains or losses on securities held as available-for-sale.

(d)Interest income on tax-free investment securities and tax-free loans are presented on a fully taxable equivalent (“FTE”) basis.  We believe this measure to be the preferred industry measurement of net interest income and provides relevant comparison between taxable and non-taxable amounts.

(e)Average balances include the effect of unrealized gains or losses on securities held as available-for-sale.

(f)Average balances include FHLB borrowings and collateralized borrowings.

(g)Average cost of deposits were 1.57% and 1.69%, respectively.  

(h)Annualized.

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Table of Contents

Rate/Volume Analysis

(in thousands)

The following table represents the extent to which changes in interest rates and changes in the volume of interest-earning assets and interest-bearing liabilities have affected interest income