Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 329

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 329
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 12 months12 months or moreTotal Fair valueUnrealizedlossFair valueUnrealizedlossFair valueUnrealizedlossU.S. government-sponsored enterprises$— — 206,569 (33,644)206,569 (33,644)Corporate debt issues— — 7,688 (778)7,688 (778)Municipal securities2,753 (81)66,046 (10,363)68,799 (10,444)Residential mortgage-backed securities - agency17,976 (242)1,423,707 (267,093)1,441,683 (267,335)Total temporarily impaired securities$20,729 (323)1,704,010 (311,878)1,724,739 (312,201) 

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

The Company does not believe that the available-for-sale debt securities that were in an unrealized loss position as of December 31, 2024, which were comprised of 288 individual securities, represents a credit loss impairment. All of these securities were issued by U.S. government agencies, U.S. government-sponsored enterprises, local municipalities, or represent corporate debt. The securities issued by the U.S. government agencies or U.S. government-sponsored enterprises are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The corporate debt issues and securities issued by local municipalities were all highly rated by major rating agencies and have no history of credit losses. The unrealized losses were primarily attributable to changes in the interest rate environment and not due to the credit quality of these investment securities. The Company does not have the intent to sell these investment securities and it is likely that we will not be required to sell these securities before their anticipated recovery, which may be at maturity.  All of the Company’s held-to-maturity debt securities are issued by U.S. government-sponsored agencies or U.S. government-sponsored enterprises. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The decline in fair value