Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 269

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 269
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,082  438,864  423,469 Net interest rate spread (9)   2.66 %  2.86 %  3.11 %Net interest-earning assets/net interest margin (10)$3,467,382  3.26 %$3,638,959  3.28 %$3,872,832  3.20 %Tax equivalent adjustment3,504 3,181 2,788 Net interest income, GAAP basis435,578 435,683 420,681 Ratio of average interest-earning assets to average interest-bearing liabilities1.35X  1.37X  1.41X  

(1)    Average gross loans receivable includes loans held as available-for-sale and loans placed on nonaccrual status.

(2)    Interest income includes accretion/amortization of deferred loan fees/expenses, which was not material. 

(3)    Interest income on tax-free loans is presented on a FTE basis including adjustments, as indicated.

(4)    Average balances do not include the effect of unrealized gains or losses on securities held as available-for-sale.

(5)    Interest income on tax-free investment securities is presented on a FTE basis including adjustments, as indicated.

(6)    Average balances include the effect of unrealized gains or losses on securities held as available-for-sale.

(7)    Average balances include FHLB borrowings and collateralized borrowings.

(8)    Average cost of deposits was 1.71%, 0.91% and 0.12%, respectively and average cost of interest-bearing deposits were 2.18%, 1.20%, and 0.16%, respectively.

(9)    Net interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities.

(10)    Net interest margin represents net interest income as a percentage of average interest-earning assets.

(11)  Shown on a FTE basis and in consideration of applicable current federal, state and local tax rates.

52

Rate/Volume Analysis

The following table presents, on a FTE basis, the changes in interest income and interest expense for major components of interest-earning assets and interest-bearing liabilities for the year ended December 31, 2024 compared to 2023 and for