Company: NWBI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001471265-25-000161
Chunk: 39

Company: Northwest Bancshares, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 39
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entures are the sole assets of the Trusts. As the shareholders of the trust preferred securities are the primary beneficiaries of the Trusts, the Trusts are not consolidated in our financial statements. The following table sets forth a summary of the cumulative trust preferred securities and the junior subordinated debt held by the Trust as of the date listed (dollars in thousands).Maturity dateInterest rateCapital debt securitiesSeptember 30, 2025December 31, 2024Northwest Bancorp Capital Trust IIIDecember 30, 20353-month  SOFR plus 1.38%$50,000 51,547 51,547 Northwest Bancorp Statutory Trust IVDecember 15, 20353-month  SOFR plus 1.38%50,000 51,547 51,547 LNB Trust IIJune 15, 20373-month  SOFR plus 1.48%7,875 8,119 8,119 Union National Capital Trust I (1)January 23, 20343-month  SOFR plus 2.85%8,000 8,043 8,024 Union National Capital Trust II (1)November 23, 20343-month  SOFR plus 2.00%3,000 2,843 2,823 MFBC Statutory Trust I (1)September 15, 20353-month  SOFR plus 1.70%5,000 3,969 3,891 Universal Preferred Trust (1)October 7, 20353-month  SOFR plus 1.69%5,000 3,960 3,883 $128,875 130,028 129,834 (1) Net of discounts due to the fair value adjustment made at the time of acquisition.Cash distributions on the trust securities are made on a quarterly basis to the extent interest on the debentures is received by the Trusts. We have the right to defer payment of interest on the subordinated debentures at any time, or from time-to-time, for periods not exceeding five years. If interest payments on the subordinated debentures are deferred, the distributions on the trust securities also are deferred. To date there have been no interest deferrals. Interest on the subordinated debentures and distributions on the trust securities is cumulative. Our obligation constitutes a full, irrevocable, and unconditional guarantee on a sub