Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 367

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 367
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 equities, fixed income, and cash or cash equivalent investments. The Trustee tries to maintain an approximate asset mix position of 50% to 80% bonds and 20% to 35% equities. A maximum of 10% may be invested in any one stock, including the stock of Northwest Bancshares, Inc. The objective of holding equity securities is to provide capital appreciation consistent with the ownership of the common stocks of medium to large companies. Acceptable bond investments are direct or agency obligations of the U.S. Government or investment grade corporate bonds. The average maturity of the bond portfolio shall not exceed ten years. The following table sets forth the weighted average asset allocation of defined benefit plans: December 31, Target allocation20242023Equity securities20 – 35%30 %69 %Debt securities50 – 80%64 %25 %Other  0 – 10%6 %6 %Total 100 %100 % 

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Table of ContentsNORTHWEST BANCSHARES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

All of the assets held by the defined benefit pension plan are measured and recorded at estimated fair value on our balance sheet on a recurring basis as Level 1 assets, as defined by the fair value hierarchy defined in Note 16. The following table sets forth the pension plan assets as of December 31, 2024 and 2023. December 31, 20242023Defined benefit pension assets:Common stock$17,320 71,192 Mutual funds190,249 131,921 Money market funds2,873 2,150 Other9,162 11,333 Total defined benefit pension plan assets (1)$219,604 216,596 (1)    The defined benefit pension plan statement of net assets also includes accrued interest and dividends resulting in net assets available for benefits of $220.0 million and $217 million, respectfully.The benefits expected to be paid in each year from 2025 to 2029 are $11.2 million, $11.4 million, $11.8 million, $12.4 million and $13.4 million, respectively. The aggregate benefits expected to be paid in the five years from 203