Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 98

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 98
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 112 %1,800 1,800 NA— Service charges and fees62,957 3,743 6 %59,214 4,026 7 %55,188 Trust and other financial services income30,102 2,818 10 %27,284 (481)(2)%27,765 Income from bank-owned life insurance6,327 (2,261)(26)%8,588 1,459 20 %7,129 Other operating income (1)23,218 6,279 37 %16,939 (3,836)(18)%20,775 Total noninterest (loss)/income$87,010 (26,813)(24)%$113,823 2,974 3 %$110,849 

(1)    Other noninterest income includes the net gain on real estate owned, mortgage banking income, and other operating income. See the “Consolidated Statements of Income” in Item 1. Financial Statements of this report. 

Noninterest income decreased by $27 million, or 24% which was driven by a loss on sale of investments of $39 million; excluding the loss on sale of securities non interest income grew by $13 million, or 11%. The increase from the prior year was driven by service charges and fees, SBA loan sales and other operating income. Other operating income increased $6 million, or 37% driven by a gain on sale of Visa B shares and a gain on a low income housing tax credit investment. Service charges and fees increased $4 million, or 6%, driven by commercial loan fees and deposit related fees based on customer activity in the current year. Gains on the sales of SBA loans increased $2 million in during the current. Partially offsetting these increases was a decrease in income from bank owned life insurance of $2 million, resulting from higher death benefits received in the prior year.

54

Noninterest Expense  

Breakdown of noninterest expense for the year ended December 31, Change from 2023Change from 20232024Amount Percent2023AmountPercent2022Noninterest expense:Compensation and employee benefits$214,455 18,764 10 %$195,691 7,332 4 %$188,359 Premises and occupancy29,469 318 1 %29,151 (467)(2)%29,