Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 131

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 131
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Cash and cash equivalents increased by $65 million, or 22%, to $353 million at March 31, 2025, from $288 million at December 31, 2024 due to growth in our deposits coupled with a focus on profitability and credit discipline while investing these cash flows into commercial loans.  

Total marketable securities remained flat at $1.9 billion at March 31, 2025, increasing by $30 million, or 2%, from December 31, 2024. Available-for-sale securities increased by $44 million, driven by a increase in net portfolio purchases during the quarter, while held-to-maturity securities decreased $15 million, driven by maturities and regular monthly cash flows. 

Gross loans receivable remained stable $11.2 billion at March 31, 2025, increasing $36 million. Our personal banking loan portfolio increased by $22 million, to $6.3 billion at March 31, 2025 while our commercial banking loans increased by $14 million, to $4.9 billion at March 31, 2025.  Cash flows from our loan portfolio were partially redirected to fund commercial banking growth. This increase represents organic loan growth resulting from the new commercial lending verticals that we implemented during the prior year. Specifically, our commercial and industrial (C&I) loan portfolio increased by $72 million, or 4% compared to December 31, 2024.

The following table provides the various loan sectors in our commercial real estate portfolio at March 31, 2025:

Property typePercent of portfolio Retail Building13.7 %5 or more unit dwelling13.2 Commercial office building - non-owner occupied10.3 Nursing Home10.0 Manufacturing & industrial building6.1 Warehouse/storage building4.4 Commercial office building - owner occupied4.2 Residential acquisition & development - 1-4 family, townhouses and apartments3.9 Multi-use building - commercial, retail and residential3.9 Multi-use building - office and warehouse3.6 Other medical facility2.9 Student housing2.4 Single family dwelling2.3 Hotel/motel2.3 Agricultural real estate2.2 Commercial acquisition and development2.0 All other12.6    Total100.0 %

The following table describes the collateral of our commercial real estate portfolio by state