WESBANCO INC

Listed Company

WSBCCIK 0000203596NasdaqLarge AcceleratedNational Commercial BanksWest VirginiaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$223.10M

Total Assets

$27.70B

Equity

$4.03B

Shares Out

96.18M

Op. Cash Flow

$290.41M

Business

WESBANCO INC is a bank holding company that provides a full range of financial services through its banking and non-bank subsidiaries. It offers retail and commercial banking, personal and corporate trust services, brokerage and discount brokerage, mortgage banking, insurance, investment advisory and alternative investment products including mutual funds and annuities. Its operations are organized into two reportable segments: community banking and trust and investment services, supplemented by subsidiaries for insurance, broker-dealer, asset management, and real estate. Wesbanco distributes services through branch offices, ATMs, trust and advisory channels, broker-dealer platforms, mutual fund management, and correspondent banking relationships across West Virginia, Ohio, western Pennsylvania, Kentucky, southern Indiana and Maryland.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	1,097	710	597	422	416
Taxable	116	71	73	66	50
Tax-exempt	19	18	19	19	16
Total interest and dividends on securities	135	89	92	85	67
Other interest income	40	27	22	6	2
Total interest and dividend income	1,272	826	712	514	485
Interest bearing demand deposits	121	108	73	12	4
Money market deposits	132	73	37	4	2
Savings deposits	35	31	24	4	1
Certificates of deposit	88	53	18	4	8
Total interest expense on deposits	376	265	152	24	14
Federal Home Loan Bank borrowings	58	62	59	4	6
Other short-term borrowings	3	4	3	568,000	227,000
Subordinated debt and junior subordinated debt	20	16	16	11	7
Total interest expense	458	347	230	39	—
NET INTEREST INCOME	814	478	481	474	458
Provision for credit losses	77	19	18	−2	−64
Net interest income after provision for credit losses	737	459	464	476	522
Trust fees	37	31	28	28	30
Service charges on deposits	41	30	26	26	22
Digital banking income	26	20	19	20	—
Net swap fee and valuation income	9	6	7	7	6
Net securities brokerage revenue	12	10	10	10	7
Bank-owned life insurance	15	10	11	11	9
Mortgage banking income	6	4	3	5	20
Net securities gains	3	1	900,000	−2	1
Net (losses)/gains on other real estate owned and other assets	−424,000	142,000	2	482,000	5
Other income	17	16	14	12	14
Total non-interest income	167	128	120	117	133
Salaries and wages	231	178	177	167	154
Employee benefits	67	46	47	38	41
Net occupancy	33	25	25	26	27
Equipment and software	63	41	37	33	30
Marketing	10	10	11	9	9
FDIC insurance	21	14	12	8	4
Amortization of intangible assets	29	8	9	10	11
Restructuring and merger-related expense	76	6	4	2	7
Other operating expenses	95	73	68	64	70
Total non-interest expense	625	402	390	357	353
Income before provision for income taxes	279	185	194	236	302
Provision for income taxes	56	34	35	44	60
Net income	223	152	159	192	242
Preferred stock dividends	21	10	10	10	10
Net income available to common shareholders	203	141	149	182	232
Basic (per share)	2.23	2.26	2.51	3.03	3.54
Diluted (per share)	2.23	2.26	2.51	3.02	3.53
Basic (shares)	91	63	59	60	66
Diluted (shares)	91	63	59	60	66
DIVIDENDS DECLARED PER COMMON SHARE	1.49	1.45	1.41	1.37	1.32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks, including interest bearing amounts of $751,249 and $425,866, respectively	956	568	595	408	1,251
Equity securities, at fair value	31	13	12	12	14
Available-for-sale debt securities, at fair value	3,288	2,246	2,194	2,529	3,013
Held-to-maturity debt securities (fair values of $1,035,957 and $1,006,817, respectively)	1,132	1,153	1,200	1,249	1,005
Allowance for credit losses, held-to-maturity debt securities	−200,000	−100,000	−200,000	−200,000	−300,000
Net held-to-maturity debt securities	1,132	1,153	1,199	1,248	1,005
Total securities	4,451	3,412	3,406	3,789	4,031
Loans held for sale	87	19	16	8	25
Portfolio loans, net of unearned income	19,226	12,656	11,638	10,703	9,733
Allowance for credit losses - loans	−219	−139	−131	−118	−122
Net portfolio loans	19,008	12,518	11,508	10,585	9,612
Premises and equipment, net	263	219	234	221	229
Accrued interest receivable	107	78	77	69	61
Goodwill and other intangible assets, net	1,723	1,124	1,132	1,141	1,152
Bank-owned life insurance	558	361	355	352	350
Other assets	543	385	389	358	215
Total Assets	27,696	18,684	17,712	16,932	16,927
Non-interest bearing demand	5,377	3,843	3,963	4,700	4,591
Interest bearing demand	5,187	3,771	3,463	3,120	3,380
Money market	5,072	2,430	2,018	1,684	1,740
Savings deposits	3,158	2,363	2,493	2,741	2,563
Certificates of deposit	2,875	1,727	1,232	886	1,293
Total deposits	21,669	14,134	13,169	13,131	13,566
Federal Home Loan Bank borrowings	1,200	1,000	1,400	700	184
Other short-term borrowings	111	192	106	135	142
Subordinated debt and junior subordinated debt	309	279	279	281	133
Total borrowings	1,619	1,471	1,735	1,121	459
Accrued interest payable	19	14	11	5	2
Other liabilities	357	275	265	248	208
Total Liabilities	23,664	15,894	15,179	14,505	14,234
Common stock, $2.0833 par value; 200,000,000 shares authorized; 96,067,559 and 75,354,034 shares issued; 96,067,559 and 66,919,805 shares outstanding at December 31, 2025 and December 31, 2024, respectively	200	157	142	142	142
Capital surplus	2,490	1,810	1,636	1,636	1,636
Retained earnings	1,253	1,192	1,143	1,078	978
Treasury stock (0 and 8,434,229 shares at cost, respectively)	0	−292	−303	−309	−200
Accumulated other comprehensive loss	−133	−219	−227	−262	−5
Deferred benefits for directors	−2	−2	−2	−2	−2
Total Shareholders Equity	4,032	2,790	2,533	2,427	2,693
Total Liabilities and Shareholders Equity	27,696	18,684	17,712	16,932	16,927

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of premises and equipment	20	15	14	13	13
Other net (accretion) amortization	−44	11	14	9	−11
Stock compensation expense	9	8	8	6	6
Decrease (increase) in deferred income tax assets, net	42	−3	−4	4	19
Increase in cash surrender value of bank-owned life insurance	−15	−10	−11	−11	−9
Loans originated for sale	−418	−306	−300	−240	−648
Proceeds from the sale of loans originated for sale	416	303	292	257	790
Net change in: accrued interest receivable and other assets	31	4	−30	−63	61
Net change in: accrued interest payable and other liabilities	−41	21	13	44	−35
Othernet	499,000	2	−155,000	−3	−7
Net cash provided by operating activities	290	211	169	204	336
Net increase in loans held for investment	−585	−1,026	−935	−958	1,108
Proceeds from sales	962	0	31	0	0
Proceeds from maturities, prepayments and calls	639	341	341	604	840
Purchases of securities	−1,375	−383	−5	−468	−1,956
Proceeds from maturities, prepayments and calls	54	45	47	88	109
Purchases of securities	−35	0	0	−335	−386
Net cash received from the PFC acquisition	200	—	—	—	—
Sale of portfolio loans - net	74	—	—	—	—
Purchases of bank owned life insurance	−286,000	−285,000	0	—	−40
Proceeds from bank owned life insurance	5	4	8	9	5
Purchases of premises and equipmentnet	−10	−10	−23	−8	−9
Net cash used in investing activities	−71	−1,030	−535	−1,068	−328
Increase in deposits	671	965	39	−433	1,140
Proceeds from Federal Home Loan Bank borrowings	1,175	1,175	1,605	650	—
Repayment of Federal Home Loan Bank borrowings	−1,475	−1,525	−960	−129	−365
(Decrease) increase in other short-term borrowings	−81	86	−29	−7	−100
Principal repayments of finance lease obligations	−5	−3	−3	−553,000	−444,000
Repayment of junior subordinated debt, net of discount and subordinated debt	−50	—	−2	—	−60
Dividends paid to common shareholders	−125	−87	−82	−81	−86
Dividends paid to preferred shareholders	−15	−10	−10	−10	−10
Issuance of preferred stock, Series B, net of issuance costs	224	—	—	—	—
Issuance of common stock, net of equity issuance costs	540,000	191	0	—	—
Redemption of preferred stock, Series A	−144	—	—	—	—
Redemption premium on preferred stock, Series A	−6	—	—	—	—
Treasury shares (purchased) sold-net	−1	76,000	−4	−116	−180
Net cash provided by financing activities	169	792	553	21	338
Net increase (decrease) in cash, cash equivalents and restricted cash	388	−27	187	−843	346
Interest paid on deposits and other borrowings	463	344	224	38	33
Income taxes paid	32	27	36	25	36
Transfers of loans to other real estate owned	544,000	152,000	210,000	2	526,000
Transfers of loans held for sale to portfolio loans	37	—	—	—	—
Transfers of portfolio loans to loans held for sale	74	—	—	—	—
Non-cash transactions related to the PFC acquisition	1,008	—	—	—	—

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