Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 126

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 126
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,127 Other revenue (1)5,458 5,313 Consolidated revenues$208,950 188,202   Less:Interest expense52,777 57,001    Segment net interest income and noninterest income$156,173 131,201 Less:Provision for credit losses 7,911 3,435 Compensation and employee benefits54,540 51,540 Processing expenses13,990 14,725 Premises and occupancy costs8,400 7,627 Professional services2,756 4,065 Office operations2,977 2,767 Federal deposit insurance premiums2,328 3,023 Other segment items (2)6,746 6,277 Income tax expense13,067 8,579 Segment net income/consolidated net income$43,458 29,163 (1)    Other revenues include loan sales, gain on real estate owned, income from bank owned life insurance and other operating income.  (2)    Other segment items include expenses for collections, marketing, amortization of intangibles, merger, asset disposition and restructuring and other operating expense. 

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Banking Segment Quarter ended March 31, 20252024  Other segment disclosuresInterest income$180,595 160,239 Interest expense52,777 57,001 Depreciation 2,775 2,894 Amortization504 701 Other significant noncash items:Provision for credit losses7,911 3,435 Segment assets14,453,727 14,510,263 Expenditures for segment assets1,822 5,471  

(14)    Subsequent Events

    On April 23, 2025, the Company announced that it has received all regulatory and shareholder approvals required to complete the merger with Penns Woods Bancorp, Inc. The merger is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions.

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Item 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-Looking Statements

In addition to historical information, this document may contain certain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements contained herein are subject to certain risks and uncertainties that could cause