Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 307

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 307
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3,211)(2,360)3,031 Cash dividends paid on common stock(101,854)(101,669)(101,468)Proceeds from stock options exercised2,455 630 5,173 Net cash (used in)/provided by financing activities(136,523)129,685 (397,902)Net increase/(decrease) in cash and cash equivalents$166,118 (17,105)(1,139,894)Cash and cash equivalents at beginning of period$122,260 139,365 1,279,259 Net increase/(decrease) in cash and cash equivalents166,118 (17,105)(1,139,894)Cash and cash equivalents at end of period$288,378 122,260 139,365 Cash paid during the period for:   Interest on deposits and borrowings (including interest credited to deposit accounts of $170,754, $86,316, and $13,399, respectively)$240,352 141,801 26,690 Income taxes27,790 47,996 39,365 Noncash activities:Loan foreclosures and repossessions$4,027 4,055 4,076 Sale of real estate owned financed by the Company— 70 175 

 See accompanying notes to Consolidated Financial Statements.

76

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

(1)     Summary of Significant Accounting Policies

 (a)                                 Nature of Operations Northwest Bancshares, Inc., a Maryland corporation headquartered in Columbus, Ohio, is the bank holding company for its wholly owned subsidiary, Northwest Bank. Northwest Bank, a Pennsylvania chartered savings bank, offers a complete line of business and personal banking products, as well as treasury management solutions and wealth management services through its 141 banking locations in Pennsylvania, New York, Ohio, and Indiana. We have determined that we have one reportable business segment.  (b)                                 Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries after elimination of all intercompany accounts and transactions. (c)                                  Cash and Cash Equivalents For purposes of the statements of financial