Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 95

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 95
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 including adjustments, as indicated.

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

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

(8)    Average cost of deposits was 1.71%, 0.91% and 0.12%, respectively and average cost of interest-bearing deposits were 2.18%, 1.20%, and 0.16%, respectively.

(9)    Net interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities.

(10)    Net interest margin represents net interest income as a percentage of average interest-earning assets.

(11)  Shown on a FTE basis and in consideration of applicable current federal, state and local tax rates.

52

Rate/Volume Analysis

The following table presents, on a FTE basis, the changes in interest income and interest expense for major components of interest-earning assets and interest-bearing liabilities for the year ended December 31, 2024 compared to 2023 and for the year ended December 31, 2023 compared to 2022. For each category of interest-earning assets and interest-bearing liabilities, information is provided on changes attributable to: (1) changes in volume multiplied by the prior year rate; (2) changes in rate multiplied by the prior year volume; and (3) the total increase or decrease. Changes not solely attributable to rate or volume have been allocated proportionately to the change due to volume and the change due to rate. There were no out-of-period adjustments or other exclusions from the amounts presented in the table.

Years ended December 31, 2024 vs. 2023Years ended December 31, 2023 vs. 2022 Increase/(decrease) due toTotal increase/(decrease)Increase/(decrease) due toTotal increase/(decrease)  RateVolumeRateVolume (In thousands)Interest-earning assets:      Loans receivable$62,421 10,147 72,568 97,916 38,438 136,354 Mortgage-backed securities8,811 (1,904)6,907 4,720 (2,638)2,082 Investment securities939 (1,426)(487)67 (