Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 101

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 101
---
. Loans may also be placed on nonaccrual before they reach 90 days past due if conditions exist that call into question our ability to collect all contractual principal and/or interest. Other nonperforming assets represent property acquired through foreclosure or repossession. Foreclosed property is carried at the lower of its fair value less estimated costs to sell or the principal balance of the related loan.

 At December 31, 20242023 (Dollars in thousands)Loans 90 days or more past due:  Residential mortgage loans$4,931 7,995 Home equity loans2,250 3,126 Vehicle loans3,191 3,051 Consumer loans776 927 Commercial real estate loans7,702 6,535 Commercial real estate loans - owner occupied — 177 Commercial loans7,335 2,780 Total loans 90 days or more past due$26,185 24,591 Total real estate owned (REO)$35 104 Total loans 90 days or more past due and REO26,220 24,695 Total loans 90 days or more past due to net loans receivable0.24 %0.22 %Total loans 90 days or more past due and REO to total assets0.18 %0.17 %Nonperforming assets:Nonaccrual loans - loans 90 days or more past due$25,529 21,894 Nonaccrual loans - loans less than 90 days past due35,872 72,490 Loans 90 days or more past due still accruing656 2,698 Total nonperforming loans62,057 97,082 Other nonperforming assets (1)16,102 — Total nonperforming assets$78,194 97,186 

(1)    Other nonperforming assets includes nonaccrual loans held for sale.

56

Classification of Assets. Our policies, consistent with regulatory guidelines, provide for the classification of loans, or other assets including other real estate owned, considered to be of lesser quality as “substandard,” “doubtful,” or “loss” assets. An asset is considered “substandard” if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. “Substandard” assets include those characterized by the “