Company: NWBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001471265-25-000077
Chunk: 4

Company: Northwest Bancshares, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 4
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301 — — 1,303 Stock-based compensation forfeited(3,360)— — — — — Dividends paid ($0.20 per share)— — — (25,422)— (25,422)Ending balance at March 31, 2024127,253,189 $1,273 1,026,173 678,427 (153,424)1,552,449 

See accompanying notes to unaudited Consolidated Financial Statements.

4

 NORTHWEST BANCSHARES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(in thousands)

Three months ended March 31, 20252024Operating activities:  Net income$43,458 29,163 Adjustments to reconcile net income to net cash provided by operating activities:  Provision for credit losses7,911 3,435 Net loss on sale of assets(101)(6,023)Mortgage banking activity(670)(794)Gain on sale of SBA loans(1,143)(852)Net depreciation, amortization and accretion596 4,646 Decrease in other assets65,841 33,565 Decrease in other liabilities(16,895)(2,427)Net amortization on marketable securities(51)625 Noncash compensation expense related to stock benefit plans1,679 1,303 Noncash write-down of other assets160 5,929 Origination of loans held-for-sale(35,979)(43,052)Proceeds from sale of loans held-for-sale42,806 45,183 Net cash provided by operating activities107,612 70,701 Investing activities:  Purchase of marketable securities available-for-sale(46,420)(79,052)Proceeds from maturities and principal reductions of marketable securities held-to-maturity14,497 13,553 Proceeds from maturities and principal reductions of marketable securities available-for-sale20,556 20,501 Loan originations(915,437)(1,055,402)Proceeds from loan maturities and principal reductions879,505 962,835 Net proceeds/(redemptions) of FHLB stock3,065 (665)Proceeds from sale of real estate owned120 114 Purchases