Core Insights - WesBanco, Inc. has appointed Richard Laws as Senior Executive Vice President and Chief Legal Counsel, effective August 18, 2025, marking a strategic evolution in the company's legal leadership [1][2][4] - Laws brings over 25 years of legal experience, including his previous role as Chief Legal Officer at Northwest Bank, where he managed all legal activities for a $16 billion financial institution [2][4] - The appointment reflects WesBanco's commitment to building the necessary infrastructure to support long-term success, especially following its acquisition of Premier Financial Corp. [4][5] Company Overview - WesBanco, Inc. is a diversified, multi-state bank holding company with total assets of $27.6 billion as of June 30, 2025 [5] - The company offers a comprehensive range of financial services, including retail and commercial banking, trust, brokerage, wealth management, and insurance services [5] - WesBanco has received national recognition, including being named one of Forbes' Most Trusted Companies and Newsweek's America's Best Regional Banks [4]

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited interim consolidated financial statements for Wesbanco, Inc. as of June 30, 2025, and for the three and six-month periods then ended, including balance sheets, income statements, and notes [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) Consolidated Balance Sheets (in thousands) | (in thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$27,571,576** | **$18,684,298** | | Net Portfolio Loans | $18,604,760 | $12,517,663 | | Total Securities | $4,389,961 | $3,412,259 | | Goodwill and other intangible assets, net | $1,745,170 | $1,124,016 | | **Total Liabilities** | **$23,752,356** | **$15,894,017** | | Total Deposits | $21,154,556 | $14,133,717 | | Total Borrowings | $2,211,428 | $1,471,381 | | **Total Shareholders' Equity** | **$3,819,220** | **$2,790,281** | Consolidated Statements of Income (in thousands, except per share) | (in thousands, except per share) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Interest Income** | **$216,769** | **$116,593** | **$375,288** | **$230,560** | | Provision for credit losses | $3,218 | $10,541 | $72,101 | $14,555 | | Total non-interest income | $43,957 | $31,355 | $78,622 | $61,984 | | Total non-interest expense | $186,535 | $102,392 | $320,500 | $199,585 | | **Net Income** | **$57,415** | **$28,916** | **$48,423** | **$64,609** | | Net income available to common shareholders | $54,884 | $26,385 | $43,360 | $59,546 | | **Diluted EPS** | **$0.57** | **$0.44** | **$0.50** | **$1.00** | [Note 2. Mergers and Acquisitions](index=11&type=section&id=Note%202.%20Mergers%20and%20Acquisitions) This note details the acquisition of Premier Financial Corp. (PFC) by Wesbanco, including the purchase price, acquired assets, and merger-related expenses - On February 28, 2025, Wesbanco completed its acquisition of Premier Financial Corp. (PFC) for a total purchase price of approximately **$1.0 billion**. The acquisition added approximately **$7.9 billion** in assets, **$5.9 billion** in portfolio loans, and 73 branches[33](index=33&type=chunk) - The acquisition resulted in the recognition of **$476.2 million** in goodwill and **$158.4 million** in core deposit and other intangible assets. The purchase price allocation is preliminary and subject to adjustment for up to one year[33](index=33&type=chunk)[34](index=34&type=chunk) - Merger-related expenses of **$32.5 million** and **$53.4 million** were recorded for the three and six months ended June 30, 2025, respectively[33](index=33&type=chunk) [Note 4. Securities](index=15&type=section&id=Note%204.%20Securities) This note provides a breakdown of the company's securities portfolio, including available-for-sale, held-to-maturity, and equity securities, along with unrealized gains/losses and credit loss allowances Securities Portfolio (in thousands) | (in thousands) | June 30, 2025 (Fair Value) | Dec 31, 2024 (Fair Value) | | :--- | :--- | :--- | | **Available-for-sale debt securities** | **$3,222,819** | **$2,246,072** | | U.S. Treasury & Agencies | $402,759 | $340,355 | | Mortgage-backed securities | $2,602,233 | $1,825,223 | | **Held-to-maturity debt securities** | **$1,137,604 (Net)** | **$1,152,760 (Net)** | | Obligations of states & political subdivisions | $1,089,173 (Amortized Cost) | $1,098,957 (Amortized Cost) | | **Equity securities** | **$29,538** | **$13,427** | | **Total Securities** | **$4,389,961** | **$3,412,259** | - Net unrealized losses on available-for-sale securities, net of tax, improved to **$178.5 million** at June 30, 2025, from **$223.8 million** at December 31, 2024[62](index=62&type=chunk) - The allowance for credit losses on held-to-maturity securities was **$0.2 million** as of June 30, 2025, up from **$0.1 million** at year-end 2024[57](index=57&type=chunk)[65](index=65&type=chunk) [Note 5. Loans and the Allowance for Credit Losses](index=18&type=section&id=Note%205.%20Loans%20and%20the%20Allowance%20for%20Credit%20Losses) This note details the composition of the loan portfolio and the allowance for credit losses, including changes driven by acquisitions and credit quality trends Total Portfolio Loans (in thousands) | (in thousands) | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total commercial real estate | $10,600,210 | $7,326,681 | | Commercial and industrial | $2,819,096 | $1,787,277 | | Residential real estate | $3,939,796 | $2,520,086 | | Home equity | $1,052,334 | $821,110 | | Consumer | $417,190 | $201,275 | | **Total portfolio loans** | **$18,828,626** | **$12,656,429** | Allowance for Credit Losses (in thousands) | (in thousands) | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Allowance for credit losses - loans** | **$223,866** | **$138,766** | | Allowance for credit losses - loan commitments | $6,168 | $6,120 | | **Total allowance for credit losses** | **$230,034** | **$144,886** | | ACL - loans / Total portfolio loans | 1.19% | 1.10% | - The increase in the allowance for credit losses was primarily driven by the initial allowance on loans acquired in the PFC transaction, as well as adjustments for regional macroeconomic factors and an increase in specific reserves[70](index=70&type=chunk) - Non-accrual loans increased to **$84.3 million** at June 30, 2025, from **$39.8 million** at December 31, 2024. Approximately **$18.9 million** of the non-accrual loans at quarter-end were acquired from PFC[86](index=86&type=chunk) [Note 14. Business Segments](index=41&type=section&id=Note%2014.%20Business%20Segments) This note outlines Wesbanco's two reportable segments, Community Banking and Trust and Investment Services, and their respective financial performance - Wesbanco operates two reportable segments: Community Banking and Trust and Investment Services. The Chief Operating Decision Maker (CODM) uses net income to evaluate segment performance[152](index=152&type=chunk) Segment Performance (in thousands) | (in thousands) | Community Banking | Trust and Investment Services | Corporate Other | Total | | :--- | :--- | :--- | :--- | :--- | | **For the Six Months Ended June 30, 2025** | | | | | | Total revenues | $374,550 | $16,680 | $(9,421) | $381,809 | | Segment profit (loss) | $59,314 | $5,225 | $(16,116) | $48,423 | | **For the Six Months Ended June 30, 2024** | | | | | | Total revenues | $272,796 | $13,312 | $(8,119) | $277,989 | | Segment profit (loss) | $69,912 | $4,087 | $(9,390) | $64,609 | - The market value of trust assets increased to approximately **$7.2 billion** at June 30, 2025, from **$5.6 billion** at June 30, 2024[153](index=153&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=46&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on the company's financial condition and results of operations, highlighting the significant impact of the Premier Financial Corp. (PFC) acquisition, including analysis of earnings, net interest income, credit loss provisions, and balance sheet changes [Earnings Summary](index=47&type=section&id=Earnings%20Summary) This section summarizes the company's earnings performance, including GAAP and non-GAAP adjusted net income and diluted EPS, with a focus on the impact of the PFC acquisition Earnings Performance (in millions, except per share) | (in millions, except per share) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net Income (to common)** | **$54.9** | **$26.4** | **$43.4** | **$59.5** | | Diluted EPS | $0.57 | $0.44 | $0.50 | $1.00 | | **Adjusted Net Income (Non-GAAP)** | **$87.3** | **$29.4** | **$138.5** | **$62.5** | | Adjusted Diluted EPS (Non-GAAP) | $0.91 | $0.49 | $1.60 | $1.05 | - Q2 2025 earnings were significantly impacted by the PFC acquisition. Excluding merger-related expenses, adjusted net income available to common shareholders was **$87.3 million**, or **$0.91** per diluted share[179](index=179&type=chunk) [Net Interest Income](index=48&type=section&id=Net%20Interest%20Income) This section analyzes the drivers of net interest income, including the impact of the PFC acquisition, loan growth, asset yields, and changes in net interest margin - Net interest income for Q2 2025 increased **85.9%** YoY to **$216.8 million**, driven by the PFC acquisition, organic loan growth, and higher asset yields. Purchase accounting accretion contributed **$22.5 million** to NII in the quarter[180](index=180&type=chunk) Net Interest Margin and Yields | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Interest Margin | 3.57% | 2.92% | | Net Interest Margin (FTE) | 3.59% | 2.95% | | Yield on Earning Assets | 5.56% | 5.11% | | Cost of Interest-Bearing Liabilities | 2.69% | 3.12% | - Average loans increased by **56.8%** and average deposits increased by **56.7%** in Q2 2025 compared to Q2 2024, primarily due to the PFC acquisition[180](index=180&type=chunk) [Financial Condition](index=53&type=section&id=Financial%20Condition) This section discusses the company's balance sheet changes, including growth in total assets, portfolio loans, deposits, and shareholders' equity, primarily due to the PFC acquisition - Total assets grew **47.6%** to **$27.6 billion** at June 30, 2025, from **$18.7 billion** at December 31, 2024, primarily due to the PFC acquisition[217](index=217&type=chunk) - Total portfolio loans increased by **$6.2 billion** (**48.8%**) since year-end 2024, driven by **$5.9 billion** in acquired PFC loans and **$0.3 billion** in organic growth[217](index=217&type=chunk)[233](index=233&type=chunk) - Total deposits increased by **$7.0 billion** (**49.7%**) since year-end 2024, reflecting **$6.9 billion** from the PFC acquisition[217](index=217&type=chunk) - Shareholders' equity increased by **$1.0 billion** (**36.9%**) to **$3.8 billion**, mainly due to common stock issued for the PFC acquisition[217](index=217&type=chunk)[255](index=255&type=chunk) [Capital Resources](index=60&type=section&id=Capital%20Resources) This section reviews the company's capital adequacy, presenting key regulatory capital ratios and confirming compliance with "well capitalized" minimums Regulatory Capital Ratios (%) | Ratio | Wesbanco, Inc. (June 30, 2025) | Well-Capitalized Minimum | | :--- | :--- | :--- | | Tier 1 leverage | 8.66% | 5.00% | | Common equity Tier 1 | 9.90% | 6.50% | | Tier 1 capital to risk-weighted assets | 10.59% | 8.00% | | Total capital to risk-weighted assets | 13.40% | 10.00% | - At June 30, 2025, all regulatory capital levels for both the holding company and the bank were substantially above the minimums required to be considered "well capitalized"[257](index=257&type=chunk) [Liquidity Risk](index=61&type=section&id=Liquidity%20Risk) This section assesses the company's liquidity position, including available sources of liquidity, the proportion of uninsured deposits, and borrowing capacity - The company maintains a strong liquidity position with total expected sources of liquidity within the next year estimated at **$7.2 billion**[263](index=263&type=chunk) - Uninsured deposits were **32%** of total deposits at June 30, 2025. Excluding collateralized public funds, the ratio of uninsured deposits was **21%**[265](index=265&type=chunk) - Available borrowing capacity with the FHLB was approximately **$5.1 billion** at June 30, 2025[266](index=266&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=63&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details the company's exposure to market risk, primarily interest rate risk, describing the role of the Asset/Liability Committee (ALCO) and the use of earnings sensitivity models to monitor and manage this risk within established policy limits Net Interest Income Sensitivity to Interest Rate Changes | Immediate Change in Interest Rates (bps) | % Change in Net Interest Income (over 1 year) | | :--- | :--- | | +200 | 2.2% | | +100 | 1.0% | | -100 | (1.4%) | | -200 | (3.6%) | - The company's net interest income simulation model shows a slightly asset-sensitive position, with a **100 basis point** parallel rate increase projected to increase NII by **1.0%** over one year. All scenarios are within ALCO policy guidelines[278](index=278&type=chunk)[279](index=279&type=chunk) [Item 4. Controls and Procedures](index=65&type=section&id=Item%204.%20Controls%20and%20Procedures) This section contains management's evaluation of the company's disclosure controls and procedures, concluding their effectiveness as of June 30, 2025, with no material changes to internal control over financial reporting identified - The CEO and CFO concluded that Wesbanco's disclosure controls and procedures were effective as of the end of the period covered by the report[286](index=286&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[288](index=288&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=66&type=section&id=Item%201.%20Legal%20Proceedings) This section discloses that the company is involved in various legal proceedings arising in the ordinary course of business but does not believe any material loss is reasonably possible - Wesbanco is involved in various lawsuits and claims in the ordinary course of business but does not believe a material loss is reasonably possible from these proceedings[291](index=291&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=66&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's stock repurchase plan activity, including the number of shares purchased during the quarter and the remaining authorization Stock Repurchase Activity | Period (2025) | Total Shares Purchased | Average Price Paid ($) | Shares Purchased as Part of Plan | | :--- | :--- | :--- | :--- | | April | 36,437 | $31.24 | — | | May | 4,224 | $30.75 | — | | June | 54,241 | $31.98 | 51,198 | | **Total Q2** | **94,902** | **$31.64** | **51,198** | - As of June 30, 2025, **918,391 shares** remained available for repurchase under the company's active stock repurchase plan[292](index=292&type=chunk) [Item 5. Other Information](index=66&type=section&id=Item%205.%20Other%20Information) This section confirms that no directors or executive officers adopted, modified, or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter - During the three months ended June 30, 2025, no directors or executive officers adopted, modified, or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement[294](index=294&type=chunk) [Item 6. Exhibits](index=67&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including a separation agreement, certifications by the CEO and CFO as required by the Sarbanes-Oxley Act, and XBRL data files

Financial Data and Key Metrics Changes - Earnings per share (EPS) for the second quarter was $0.91, excluding merger-related charges, representing an 86% increase year over year [5][14] - Net interest margin improved to 3.59%, a 64 basis point increase year over year [6][17] - Net income excluding merger and restructuring expenses was $87.3 million, compared to $29.4 million in the prior year [5][14] - Total assets increased by 52% year over year to $27.6 billion, driven by the Premier acquisition and organic growth [15] Business Line Data and Key Metrics Changes - Fee income grew by 40% year over year, totaling $44 million in the second quarter [8][18] - Organic loan growth was 6% year over year, with total commercial loans increasing by 7% [10][14] - The trust and securities brokerage business grew to $10 billion in assets under management [8] Market Data and Key Metrics Changes - Total deposits increased by 58% year over year to $21.2 billion, with organic growth of $849 million [17] - Organic deposit growth excluding certificates of deposit was more than 5% year over year [9] Company Strategy and Development Direction - The company aims to grow fee income as a percentage of total revenue and expand its presence in new markets, including Knoxville and Northern Virginia [9][11] - Strategic investments are being made in the healthcare sector to meet unique client needs [11][32] - The focus remains on executing the Premier acquisition and enhancing operational efficiency [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about loan growth despite potential headwinds from commercial real estate payoffs [71] - The company anticipates mid to upper single-digit loan growth for the remainder of 2025 [37][39] - Management expects to fund loan growth with deposit growth for the full year [9][17] Other Important Information - The efficiency ratio improved by 10 percentage points year over year to 55.5% [6] - The company has begun to see a rebound in deposits in July after a seasonal decline [17] - Regulatory capital ratios remain above well-capitalized standards [19] Q&A Session Summary Question: Increase in criticized loans and maintaining credit culture - Management noted that the increase in criticized loans is primarily due to regrading of acquired clients, but they expect improvements in the third quarter [28][30] Question: Capital deployment priorities - The company prioritizes dividends and organic growth, with M&A and buybacks being lower on the list [31][33] Question: Loan growth expectations - Management targets mid to upper single-digit growth, contingent on commercial real estate payoffs [37][39] Question: Branch rationalization - The company will evaluate branch profitability and may close some branches in the second half of the year [40][41] Question: Margin accretion assumptions - Management anticipates a drop in margin accretion in the third quarter but expects a rebound in the fourth quarter [46][63] Question: Deposit pipelines and growth - The company plans to launch a new deposit campaign and expects robust growth in the commercial space [78][80] Question: Preferred stock and subordinated debt refinancing - Management is evaluating options for calling preferred stock and refinancing subordinated debt that will reset soon [90][91]

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.91 when excluding merger-related charges, an increase of 86% year over year [5][13] - Net interest margin improved to 3.59%, reflecting a 64 basis point increase year over year [6][16] - Net income excluding merger and restructuring expenses was $87.3 million, compared to $29.4 million in the prior year period, representing a nearly 200% increase [13][14] Business Line Data and Key Metrics Changes - Fee income grew by 40% year over year, totaling $44 million in the second quarter [6][17] - Total portfolio loans increased by 53.6% year over year, with $5.9 billion from the Premier acquisition and $670 million from organic growth [14] - Organic loan growth was 6% year over year, with total commercial loans increasing by 7% year over year [9][14] Market Data and Key Metrics Changes - Total deposits increased by 58% year over year to $21.2 billion, driven by Premier deposits and organic growth [16] - Organic deposit growth excluding certificates of deposit was more than 5% year over year [8] - The commercial loan pipeline as of June 30 was approximately $1.3 billion, with roughly 30% attributable to new markets [9] Company Strategy and Development Direction - The company aims to grow fee income as a percentage of total revenue and expand its presence in new markets, including healthcare and commercial lending [8][11] - Strategic investments are being made in new loan production offices in Knoxville and Northern Virginia to enhance growth potential [11][81] - The focus remains on executing the Premier acquisition and leveraging new treasury management products to drive growth [32][93] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future loan growth, citing strong pipelines and a commitment to maintaining credit quality [15][70] - The company anticipates mid to upper single-digit loan growth for the remainder of 2025, despite potential headwinds from commercial real estate payoffs [37][70] - Management expects to fund loan growth with deposit growth for the full year, despite a seasonal decline in deposits [8][16] Other Important Information - The company successfully converted customer data systems from Premier, enhancing operational efficiency [6][7] - The efficiency ratio improved by 10 percentage points year over year to 55.5% [6] - Regulatory capital ratios remain above well-capitalized standards, with Tier one leverage at 8.7% [19] Q&A Session Summary Question: Increase in criticized loans and maintaining credit culture - Management noted that the increase in criticized loans is primarily due to regrading of acquired clients, but they expect improvements in the second half of the year [28][30] Question: Capital deployment priorities - The company prioritizes dividends and organic growth, with M&A and buybacks being lower on the list [31][32] Question: Loan growth expectations - Management targets mid to upper single-digit growth, contingent on commercial real estate payoffs [37][70] Question: Branch rationalization - The company will evaluate branch profitability and may close some branches in the second half of the year [40][41] Question: Margin accretion assumptions - Management anticipates a drop in margin accretion in the third quarter but expects a rebound in the fourth quarter [47][60] Question: Integration of Premier - The focus is on driving growth and ensuring new employees are familiar with company processes following the successful systems conversion [49][50] Question: Deposit pipelines and growth - The company plans to launch a new deposit campaign and expects robust growth in the commercial space [78][79] Question: Preferred stock and sub debt refinancing - Management is evaluating options for calling preferred stock and refinancing sub debt that will reset soon [87][88]

Financial Performance - Net income available to common shareholders was $873 million, or $091 per share, excluding restructuring and merger-related expenses and day 1 provision for credit losses on acquired loans[6, 39] - Net interest margin improved to 359%, up 64 basis points year-over-year and 24 basis points quarter-over-quarter[6, 23] - Return on average tangible equity was 1716%, an increase of 838 basis points compared to the same quarter last year[8] - Efficiency ratio improved to 555%, driven by the benefits of the PFC acquisition and positive operating leverage[7] Loan and Deposit Growth - Total loans increased 536% year-over-year to $188 billion, reflecting $59 billion of loans from PFC and organic growth[6, 10, 11] - Total deposits increased 575% year-over-year to $212 billion, including $69 billion of deposits from PFC and organic growth[13, 15] - Year-over-year organic deposit growth was $850 million, or 63%, fully funding organic loan growth[15] Asset Quality and Capital - Non-performing assets to total assets ratio was 031%[6, 8] - Tangible common equity to tangible assets ratio was 760%[6, 19] - The allowance for credit losses on loans was $2239 million, providing a coverage ratio of 119%[31] Securities Portfolio - Total securities were $439 billion, representing 16% of total assets[17] - The securities portfolio had a weighted average yield of 321%[19]

Core Insights - WesBanco reported revenue of $260.73 million for the quarter ended June 2025, marking a 74.8% increase year-over-year [1] - The company's EPS was $0.91, up from $0.49 in the same quarter last year, exceeding the consensus estimate of $0.87 by 4.6% [1] Financial Performance - Revenue of $260.73 million surpassed the Zacks Consensus Estimate of $259.6 million, resulting in a surprise of +0.43% [1] - The efficiency ratio was reported at 55.5%, slightly above the estimated 55.2% [4] - Net interest margin was reported at 3.6%, matching the average estimate [4] - Mortgage banking income reached $2.36 million, exceeding the average estimate of $1.65 million [4] - Total non-interest income was $43.96 million, surpassing the average estimate of $41.5 million [4] Stock Performance - WesBanco shares returned +1.8% over the past month, underperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - WesBanco (WSBC) reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.87 per share, and showing a significant increase from $0.49 per share a year ago, representing an earnings surprise of +4.60% [1] - The company achieved revenues of $260.73 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.43% and up from $149.16 million year-over-year [2] - WesBanco has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.89, with projected revenues of $262.8 million, while the estimate for the current fiscal year is $3.10 on revenues of $978.7 million [7] - The company's earnings outlook is crucial for investors, as it reflects current consensus expectations and any recent changes in those expectations [4] Market Performance - WesBanco shares have underperformed the market, losing about 1.1% since the beginning of the year, compared to the S&P 500's gain of 8.6% [3] - The Zacks Rank for WesBanco is currently 4 (Sell), indicating expectations of underperformance in the near future due to unfavorable estimate revisions prior to the earnings release [6] Industry Context - The Banks - Southeast industry, to which WesBanco belongs, is currently ranked in the top 6% of over 250 Zacks industries, suggesting a favorable environment for stocks within this sector [8] - Another company in the same industry, First National Corp. (FXNC), is expected to report quarterly earnings of $0.49 per share, reflecting a year-over-year change of +2.1% [9]

Core Viewpoint - WesBanco, Inc. reported significant growth in net income and earnings per share for the second quarter of 2025, driven by the successful acquisition of Premier Financial Corp. and operational improvements. Financial Performance - Net income available to common shareholders for Q2 2025 was $54.9 million, with diluted earnings per share of $0.57, compared to $26.4 million and $0.44 per diluted share in Q2 2024 [1] - For the first half of 2025, net income was $43.4 million, or $0.50 per diluted share, down from $59.5 million, or $1.00 per diluted share, in the same period of 2024 [1] - Adjusted net income per diluted share, excluding certain items, was $0.91 for Q2 2025, up from $0.49 in the prior year [2] Loan and Deposit Growth - Total loans increased 53.6% year-over-year to $18.8 billion, reflecting $5.9 billion from Premier Financial Corp. and organic growth of 5.5% [3][4] - Deposits rose 57.5% year-over-year to $21.2 billion, driven by $6.9 billion from Premier Financial Corp. and organic growth of $0.8 billion [5] Net Interest Margin and Income - The net interest margin for Q2 2025 was 3.59%, an increase of 64 basis points year-over-year, attributed to higher loan yields and lower funding costs [8] - Net interest income for Q2 2025 was $216.8 million, an increase of 85.9% year-over-year, primarily due to the larger balance sheet from the acquisition [9] Non-Interest Income - Non-interest income for Q2 2025 was $44.0 million, a 40.2% increase from the previous year, largely due to the acquisition of Premier Financial Corp. [10] Non-Interest Expense - Non-interest expense, excluding restructuring and merger-related costs, was $145.5 million for Q2 2025, a 47.5% increase year-over-year, mainly due to the addition of Premier Financial Corp.'s expense base [14] Capital and Credit Quality - As of June 30, 2025, the allowance for credit losses was 1.19% of total loans, amounting to $223.9 million [7] - Credit quality metrics remained low, with criticized and classified loans at 3.63% of total portfolio loans, although this was an increase from the previous quarter [6] Efficiency and Operational Highlights - The efficiency ratio improved to 55.5%, more than 10 percentage points better year-over-year, reflecting the benefits of the acquisition and a focus on expense management [11] - The successful conversion of customer data systems for approximately 400,000 consumer and 50,000 business relationships from Premier Financial Corp. was achieved [3]

Core Insights - WesBanco, Inc. has opened a new commercial loan production office (LPO) in Northern Virginia, marking its first commercial-focused LPO in the area and expanding its capabilities in the Dulles Corridor and Washington, D.C. metro region [1][2][3] Company Expansion - The new LPO aligns with WesBanco's long-term strategy to grow in high-opportunity markets adjacent to its current footprint, bringing dedicated lending expertise to a vibrant region encompassing seven counties [2][3] - David Leudemann has been appointed as City President and Senior Commercial Banker to lead the new LPO, bringing extensive industry experience and regional ties [3][4] Market Opportunities - The Northern Virginia market is viewed as dynamic, offering significant opportunities for business growth and community engagement [3] - WesBanco aims to deliver tailored financial solutions to empower local and regional businesses [4] Company Reputation - WesBanco has received multiple accolades for soundness, profitability, customer service, and community development, including an "Outstanding" FDIC Community Reinvestment Act rating and recognition in Forbes' Most Trusted Companies in America [4] Operational Details - The Northern Virginia commercial LPO is currently co-located with its residential mortgage LPO in Leesburg, Virginia, with plans to relocate to Fairfax County in the near future [5] Company Overview - WesBanco, Inc. has over 150 years of experience as a community-focused financial services partner, with total assets of $27.4 billion as of March 31, 2025 [6]

Core Viewpoint - WesBanco, Inc. has appointed Kevin McCormack as the Mid-Atlantic Market President and Senior Commercial Banker to drive growth in the Maryland and Washington D.C. metro areas while enhancing community involvement [1][2]. Company Overview - WesBanco, Inc. is a diversified, multi-state bank holding company with over 150 years of experience in community-focused financial services [4]. - The company has total assets of $27.4 billion, with $7.0 billion in Trust and Investment Services assets under management and $2.4 billion in securities account values as of March 31, 2025 [4]. Leadership Appointment - Kevin McCormack brings over 20 years of experience in commercial banking, previously serving as Commercial Banking Leader for Greater Washington at Atlantic Union Bank [2]. - His past roles include leadership positions at Wells Fargo Bank and M&T Bank, showcasing a strong background in commercial banking [2]. Strategic Focus - In his new role, McCormack will emphasize strategic collaboration to deliver customized client solutions and will advocate for WesBanco's commitment to local communities [1][3]. - The Mid-Atlantic market overseen by McCormack includes more than 20 counties, with over 25 financial centers in the region [3]. Community Engagement - McCormack is actively involved in community service, serving on the Board of Directors for the James Hollister Foundation and volunteering for the American Red Cross [2]. - His commitment to community involvement aligns with WesBanco's mission to enhance the success of its clients and communities [3].