WHEELING, W.Va., July 11, 2025 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today that Kevin McCormack has been named the Mid-Atlantic Market President and Senior Commercial Banker, effective immediately. Kevin McCormack, Mid-Atlantic Market President and Senior Commercial Banker In his new role, McCormack will focus on accelerating growth in the Maryland and Washington D.C. metro areas through strategic collaboration across the business to d ...

Financial Performance - Pre-tax, pre-provision income increased by 14.2% year-over-year to $64.8 million[4] - Net income available to common shareholders was $50.6 million, with diluted EPS of $0.76[4] - Mortgage banking income increased significantly by 84.0% year-over-year to $5.4 million[4] - The efficiency ratio improved to 57.06%[4] Balance Sheet and Loan Portfolio - Total risk-based capital ratio was 17.57%[3] - Loan growth was 5.1% year-over-year, including approximately $726.3 million in SBA PPP loans[4] - Deposit growth (excluding CDs) was 20.8% year-over-year[4] - Q4 residential real estate loan levels were impacted by retaining a smaller percentage of the $351 million of Q4 mortgage origination dollar volume (~50% refi) on the balance sheet[11] - Q4 consumer loans declined 17.6% YoY reflecting payoffs driven by utilization of residential mortgage refinancing and higher personal savings[11] Asset Quality and Credit Loss - Non-performing assets to total assets ratio was 0.25%[6] - Net loan charge-offs to average loans (annualized) was 0.02%[6] - Allowance for credit losses as a percentage of total loans was 1.72%, or 1.85% excluding SBA PPP loans[42] Customer Support and Deferrals - Pandemic-related loan deferral balances decreased by approximately 90% from the May 2020 peak, reaching $171 million as of December 31, 2020[15]

Financial Performance - Pre-tax, pre-provision income was $57.8 million[5] - Net income available to common shareholders was $45.4 million, with diluted EPS of $0.70 per share[5] - The efficiency ratio year-to-date was 57.04%[5] - Return on average tangible equity was 11.57% for the quarter ending September 30, 2021[6] Balance Sheet and Loan Portfolio - Deposit growth, excluding certificates of deposit, increased by 15.0% year-over-year[5] - Non-performing assets to total assets stood at 0.24%[5] - Approximately 21 million shares of WesBanco common stock were repurchased during the quarter[5] - Remaining SBA PPP loans totaled approximately $272 million as of September 30, 2021[9] Net Interest Margin and Non-Interest Income - Investment securities increased by $1.1 billion year-over-year, representing approximately 23% of total assets[14] - Total non-interest income was $32.755 million[15] - Trust fees increased by 13.4% due to net organic growth in trust assets under management ($5.5 billion)[15]

Financial Results Release - Wesbanco, Inc. will release its financial results for Q2 2025 after market close on July 29, 2025[6] Conference Call - A conference call to discuss the Q2 2025 financial results is scheduled for July 30, 2025, at 9:00 a.m. ET[6]

WHEELING, W.Va., July 3, 2025 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today it will host a conference call at 9:00 a.m. ET on Wednesday, July 30, 2025. Jeffrey H. Jackson, President and Chief Executive Officer, and Daniel K. Weiss, Jr., Senior Executive Vice President and Chief Financial Officer, will review financial results for the second quarter of 2025. Results for the quarter are expected to be released after the market close on Tuesday, ...

Core Points - WesBanco, Inc. has partnered with the Paisley Foundation and the Community Foundation for the Ohio Valley to establish the Disaster Response and Recovery Fund to assist those affected by recent flooding in the Upper Ohio Valley [1][4] - The fund aims to provide both immediate and long-term recovery support for individuals and families impacted by the floods, as well as future disasters in the region [4][5] - WesBanco and the Paisley Foundation each contributed $25,000 to kickstart the fund, ensuring that 100% of donations will directly support recovery efforts in the affected eight-county area [5][6] Company Overview - WesBanco, Inc. is a diversified, multi-state bank holding company with over 150 years of experience, focusing on community-oriented financial services [7] - As of March 31, 2025, WesBanco has total assets of $27.4 billion, with $7.0 billion in Trust and Investment Services assets under management [7] - The company emphasizes building lasting relationships and providing personalized banking solutions to empower customers in their financial journeys [7] Foundation Overview - The Paisley Foundation, established by Grammy-winning artist Brad Paisley, focuses on charitable causes, particularly in times of crisis, and has granted over $2.3 million since its inception, with nearly $1.2 million allocated for disaster relief [3][8] - The Community Foundation for the Ohio Valley has been enhancing the vibrancy of the Upper Ohio Valley since 1972, with assets of $100 million and over $3 million distributed in grants and scholarships in the past year [9]

Core Insights - WesBanco, Inc. has appointed George Petroplus as the Morgantown Market President and Senior Commercial Banker, effective immediately, succeeding Nick Taylor who has been promoted to lead Business Banking [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 [5] - The company has total assets of $27.4 billion, with Trust and Investment Services holding $7.0 billion in assets under management and securities account values of $2.4 billion as of March 31, 2025 [5] Leadership and Strategy - George Petroplus will lead the growth strategy for the Morgantown market, focusing on maximizing opportunities to serve client needs and enhancing community engagement [2][4] - Petroplus has been with WesBanco since 2019, previously serving as a Commercial Banker and has experience in Credit Analysis and Portfolio Management [3] Community Engagement - The new Market President emphasizes the importance of community involvement and aims to support local initiatives through his leadership [2][4] - Petroplus is actively involved in the community, serving on the Board of Directors for the United Way Monongalia and Preston Counties and the Mylan Park Foundation [3]

Core Insights - WesBanco, Inc. successfully transitioned approximately 400,000 consumer and 50,000 business relationships from Premier Financial Corp., marking the largest conversion in the bank's history [1][2] - The merger, which was announced on July 26, 2024, and completed on February 28, 2025, has resulted in WesBanco becoming a regional financial services institution with over $27 billion in assets [2] - WesBanco now operates more than 250 financial centers across nine states, enhancing its regional presence and customer service capabilities [1][2] Company Overview - WesBanco has over 150 years of experience as a community-focused financial services partner, offering a comprehensive range of retail and commercial banking solutions, as well as trust, brokerage, wealth management, and insurance services [4] - As of March 31, 2025, WesBanco reported 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 [4] Community Engagement - Customer appreciation events are scheduled throughout June at the newly converted financial centers, indicating a focus on building relationships with the new customer base [3] - The WesBanco logo has been prominently displayed atop the historic downtown clock tower in Youngstown, Ohio, symbolizing the bank's commitment to its new communities [3]

Financial Performance - The company reported a net loss of $8,992,000 for the three months ended March 31, 2025, compared to a net income of $35,693,000 for the same period in 2024[12]. - Comprehensive income for the three months ended March 31, 2025, was $18,930,000, down from $27,464,000 in 2024, indicating a decline of 31.5%[12]. - The company reported a net (loss) income available to common shareholders of $(11,523) thousand for Q1 2025, compared to $33,162 thousand in Q1 2024, resulting in a basic and diluted loss per share of $(0.15)[50]. - WesBanco reported a net loss available to common shareholders of $11.5 million, or $(0.15) per share, for Q1 2025, compared to net income of $33.2 million, or $0.56 per share, in Q1 2024[165]. - The provision for credit losses totaled $68.9 million in Q1 2025, compared to $4.0 million in Q1 2024, reflecting loan growth and macroeconomic adjustments[168]. Asset Growth - Total assets increased to $27,412,383 thousand as of March 31, 2025, up from $18,684,298 thousand at December 31, 2024, representing a growth of approximately 46.7%[8]. - Total deposits reached $21,292,395 thousand, up from $14,133,717 thousand, indicating an increase of approximately 50.8%[8]. - Total loans increased to $18,917,029,000 as of March 31, 2025, up from $12,675,124,000 at December 31, 2024, representing a growth of approximately 49%[65]. - The total portfolio loans increased to $18,673,748,000, with a past due amount of $148,385,000[80]. - Cash, cash equivalents, and restricted cash at the end of Q1 2025 totaled $1,091,715 thousand, up from $509,669 thousand at the end of Q1 2024, marking a 114.1% increase[15]. Loan and Credit Quality - The allowance for credit losses on loans increased to $233.6 million from $130.7 million at December 31, 2024, reflecting a significant rise[68]. - The provision for loan losses for the three months ended March 31, 2025, was $68.6 million, indicating a substantial increase compared to previous periods[68]. - Non-performing loans increased to 0.44% of total portfolio loans as of March 31, 2025, up from 0.28% a year earlier[182]. - Criticized loans classified as compromised were $470.6 million as of March 31, 2025, compared to $242.0 million as of December 31, 2024, showing an increase of 94.5%[78]. - The total ending allowance for credit losses on loans and loan commitments reached $240.1 million as of March 31, 2025[68]. Acquisition Impact - WesBanco completed the acquisition of Premier Financial Corp. (PFC) on February 28, 2025, valued at $1.0 billion, with PFC holding approximately $7.9 billion in assets[31]. - The acquisition resulted in Wesbanco acquiring 73 branches and increasing its market share in Ohio, expanding into northwestern Ohio and Michigan[31]. - WesBanco's goodwill increased to $1.6 billion as of March 31, 2025, up from $1.1 billion at December 31, 2024, primarily due to the PFC acquisition which contributed $483.4 million in goodwill[95]. - The company issued stock for the acquisition of Premier Financial Corp. totaling $1,007,845 thousand, which is a significant strategic move for market expansion[15]. - The fair value of total assets acquired from PFC was $8.1 billion, while total liabilities assumed were $7.6 billion[34]. Income and Expenses - Total interest and dividend income for the three months ended March 31, 2025, was $253,232,000, an increase of 29.6% compared to $195,300,000 for the same period in 2024[10]. - Non-interest income totaled $34,665,000, an increase of 13.5% from $30,629,000 in the same quarter of 2024[10]. - Total non-interest expense surged by $36.8 million or 37.8% to $134.0 million, primarily due to $20.0 million in restructuring and merger-related expenses[192]. - The total average basic common shares outstanding increased to 76,830,460 in Q1 2025 from 59,382,758 in Q1 2024[50]. - The effective tax rate for Q1 2025 was 7.0%, down from 17.7% in Q1 2024, with a tax benefit of $0.7 million compared to a provision of $7.7 million in the prior year[171]. Investment Portfolio - The fair value of net loans as of March 31, 2025, was estimated at $18,029,036 thousand, up from $12,042,064 thousand on December 31, 2024, indicating strong loan growth[134]. - The total available-for-sale debt securities increased to $3,149,043,000 as of March 31, 2025, compared to $2,246,072,000 at the end of 2024, reflecting a growth of approximately 40%[127][128]. - The fair value of subordinated debt as of March 31, 2025, was $342,315 thousand, compared to $262,101 thousand at the end of 2024, indicating an increase of 30.6%[138]. - The total investment securities increased by $908.2 million or 26.6% from December 31, 2024 to March 31, 2025[202]. - Approximately 26% of the investment portfolio is in the held-to-maturity category, which mitigates the impact of interest rate volatility on other comprehensive income[205].

Core Viewpoint - WesBanco (WSBC) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, driven largely by institutional investors who adjust their valuations based on these estimates [4][6]. - An increase in earnings estimates typically leads to higher fair value for a stock, prompting institutional investors to buy or sell, which in turn affects stock prices [4]. WesBanco's Earnings Outlook - WesBanco is projected to earn $3.33 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 42.3% [8]. - Over the past three months, the Zacks Consensus Estimate for WesBanco has risen by 1.5%, indicating a positive trend in earnings expectations [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - The upgrade of WesBanco to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].