Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 126

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 126
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1,271 Additional paid-in capital1,033,385 1,024,852 Retained earnings673,110 674,686 Accumulated other comprehensive loss(110,914)(149,492)Total shareholders’ equity1,596,856 1,551,317 Total liabilities and shareholders’ equity$14,408,224 14,419,105 

See accompanying notes to Consolidated Financial Statements.

71

NORTHWEST BANCSHARES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, excluding share data) Years ended December 31, 202420232022Interest income:   Loans receivable$615,776 543,659 407,828 Mortgage-backed securities39,793 32,886 30,804 Taxable investment securities3,274 3,258 3,070 Tax-free investment securities1,975 2,350 2,767 FHLB stock dividends1,891 2,868 730 Interest-earning deposits6,487 2,901 3,599 Total interest income669,196 587,922 448,798 Interest expense:   Deposits205,492 105,343 14,120 Borrowed funds28,126 46,896 13,997 Total interest expense233,618 152,239 28,117 Net interest income435,578 435,683 420,681 Provision for credit losses - loans27,679 18,664 17,860 Provision for credit losses - unfunded commitments(3,174)4,210 10,455 Net interest income after provision for credit losses411,073 412,809 392,366 Noninterest income:  Loss on sale of investments(39,413)(8,307)(8)Gain on sale of mortgage servicing rights— 8,305 — Gain on sale of SBA loans3,819 1,800 — Gain on sale of loans— 726 — Service charges and fees62,957 59,214 55,188 Trust and other financial services income30,102 27,284 27,765 Gain on real estate owned, net887 2,006 603 Income from bank-owned life insurance6,327 8