Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 254

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 254
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 focus on profitability and credit discipline while investing these cash flows into commercial loans.

Marketable securities. Marketable securities remained flat at $1.9 billion at both December 31, 2024 and December 31, 2023. Available-for-sale marketable securities increased $66 million driven by the securities portfolio restructure in the current year, while held-to-maturity securities decreased $64 million drive by maturities and regular monthly cash flows.  During the second quarter the Company restructured our security portfolio by selling 15% of available-for-sale securities during the year in order to reallocate these funds into higher interest-earning products.

The following table sets forth certain information regarding the amortized cost and fair value of our available-for-sale marketable securities portfolio and mortgage-backed securities portfolio at the dates indicated. At December 31, 20242023 AmortizedcostFairvalueAmortizedcostFairvalue (In thousands)Residential mortgage-backed securities available-for-sale:    Fixed rate pass-through$237,892 220,417 209,069 183,874 Variable rate pass-through3,738 3,789 7,140 7,080 Fixed rate agency CMOs852,648 719,833 789,842 646,787 Variable rate agency CMOs44,740 44,668 23,965 23,550 Total residential mortgage-backed securities available-for-sale1,139,018 988,707 1,030,016 861,291 Marketable securities available-for-sale:  U.S. Government, agency and GSEs45,411 35,509 115,755 98,911 Municipal securities68,807 58,627 85,766 75,469 Corporate debt issues25,429 26,101 8,466 7,688 Total marketable securities available-for-sale$1,278,665 1,108,944 1,240,003 1,043,359 

The following table sets forth certain information regarding the amortized cost and fair value of our held-to-maturity marketable securities portfolio and mortgage-backed securities portfolio at the dates indicated. At December 31, 20242023 AmortizedcostFairvalueAmortizedcostFairvalue (In thousands)Residential mortgage-backed securities held-to-maturity:    Fixed rate pass-through$