Borrowed Funds (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of borrowed funds

Borrowed funds at June 30, 2024 and December 31, 2023 are presented in the following table (dollars in thousands):

	June 30, 2024				December 31, 2023
	Amount		Average rate		Amount		Average rate
Term notes payable to the FHLB of Pittsburgh, due within one year	$	175,000	5.65	%	$	175,000	5.71	%
Notes payable to the FHLB of Pittsburgh, due within one year	—		—	%	163,500		5.70	%
Collateralized borrowings, due within one year	26,213		1.83	%	35,495		1.72	%
Collateral received, due within one year	41,150		5.17	%	24,900		5.26	%
Total borrowed funds	$	242,363			$	398,895

Schedule of capital debt securities and junior subordinated deferrable interest debentures

The following table sets forth a summary of the cumulative trust preferred securities and the junior subordinated debt held by the Trust as of the date listed (dollars in thousands).

	Maturity date	Interest rate	Capital debt securities		June 30, 2024	December 31, 2023
Northwest Bancorp Capital Trust III	December 30, 2035	3-month SOFR plus 1.38%	$	50,000	51,547	51,547
Northwest Bancorp Statutory Trust IV	December 15, 2035	3-month SOFR plus 1.38%	50,000		51,547	51,547
LNB Trust II	June 15, 2037	3-month SOFR plus 1.48%	7,875		8,119	8,119
Union National Capital Trust I (1)	January 23, 2034	3-month SOFR plus 2.85%	8,000		8,012	7,999
Union National Capital Trust II (1)	November 23, 2034	3-month SOFR plus 2.00%	3,000		2,809	2,796
MFBC Statutory Trust I (1)	September 15, 2035	3-month SOFR plus 1.70%	5,000		3,840	3,788
Universal Preferred Trust (1)	October 7, 2035	3-month SOFR plus 1.69%	5,000		3,829	3,778
			$	128,875	129,703	129,574

(1) Net of discounts due to the fair value adjustment made at the time of acquisition.