Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 134

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 134
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IDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance when we believe the uncollectibility of an available-for-sale security is confirmed or when there is an intent or requirement to sell the security.  Accrued interest receivable on available-for-sale debt securities totaled $2 million at both December 31, 2024 and December 31, 2023, respectively, and is excluded from the estimate of credit losses.  A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days past due. The receivable for interest income that is accrued but not collected is reversed against interest income when the debt security is placed on nonaccrual status. No debt securities were on nonaccrual status as of December 31, 2024 and December 31, 2023.(e)                                  Loans Receivable Our portfolio segments are based on the class of financing receivable. Additionally, the class of financing receivables are based on several factors including the method for monitoring and assessing credit risk and the risk characteristics of the financing receivables. Based on evaluation of the nature of our financing receivables, along with the nature and extent of exposure to credit risk arising from these receivables, our portfolio segments were determined to be Personal Banking and Commercial Banking loans.  •Personal Banking loans consist of the following classes of financing receivables:◦Residential mortgage loans - fixed and adjustable rate mortgage loans◦Home equity loans - first and second mortgage loans and home equity lines of credit◦Vehicle loans - direct and indirect automobile, motorcycle loans and recreational or power sport vehicles  ◦Consumer loans - unsecured lines of credit, credit card loans, and other consumer loans•Commercial Banking loans consist of the following classes of financing receivables:◦Commercial real estate - multi-family commercial real estate loans secured by multi-family residences, such as rental properties and loans secured by nonresidential properties such as hotels, commercial offices, medical buildings, manufacturing facilities and retail establishments, excluding owner-occupied loans, and including small business commercial real estate loans◦Commercial real estate - owner-occupied loans - commercial real estate loans secured by residential or non-residential properties ◦Commercial loans - other commercial