Financial Data and Key Metrics Changes - For the quarter ending March 31, 2025, the company reported net income excluding merger and restructuring expenses of $51.2 million, with diluted earnings per share of $0.66, an 18% increase year over year despite a significant increase in shares outstanding due to the Premier Financial acquisition [6][14] - The net interest margin improved to 3.35%, and the efficiency ratio improved to 58.62% [6][14] - Total assets increased by 54% year over year to $27.4 billion, with total portfolio loans increasing by 57.3% [14][15] Business Line Data and Key Metrics Changes - Organic loan growth was 8% year over year and 4% quarter over quarter annualized, driven by strong performance across banking teams [10][14] - Total commercial loans increased by 10% year over year and almost 7% sequentially, with a commercial loan pipeline of approximately $1.3 billion [10][14] - Non-interest income totaled $34.7 million, a 13% increase from the prior year, primarily due to the Premier acquisition [17] Market Data and Key Metrics Changes - Total deposits increased by 58% year over year to $21.3 billion, with organic deposit growth fully funding loan growth [15][16] - Organic deposit growth excluding CDs was 4.8% year over year and 10.6% quarter over quarter annualized [15][16] - The company’s loan portfolio is diversified across a nine-state footprint, with 70% in the Mid Atlantic region [12] Company Strategy and Development Direction - The successful acquisition of Premier Financial is expected to elevate the company into the ranks of the top 100 largest U.S. banks by asset size, strengthening market position and accelerating long-term growth strategy [6][7] - The company aims to fund full-year loan growth with deposits, despite potential fluctuations quarter to quarter [9] - The focus remains on disciplined expense management to drive positive operating leverage throughout 2025 [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future loan growth, supported by a strong pipeline and banking teams [14][19] - The macroeconomic environment is characterized by volatility in equity markets due to trade war threats, but the company’s diverse loan portfolio provides stability [12] - The company anticipates two Fed rate cuts in June and September but does not expect a significant impact on net interest margin due to a neutral rate-sensitive position [20] Other Important Information - The provision for credit losses was $69 million, with $59 million related to the day one non-PCD provision [15] - The allowance for credit losses increased to $234 million, raising the coverage ratio to 1.25% [16] - The company expects to recognize the bulk of remaining merger-related expenses totaling approximately $45 million in the second quarter [22] Q&A Session Summary Question: Margin outlook on an organic basis - Management anticipates roughly 4 to 6 basis points of margin improvement per quarter on an organic basis, with Premier contributing 2 to 4 basis points [24][25] Question: Clarity on expense numbers - The modeled expense run rate is in the low $140 million range for each of the next three quarters, with full cost savings expected to be realized by the fourth quarter [28][29] Question: Bond book yields and deposit costs - The bond yields were around 3.07% at quarter-end, and management expects continued reduction in deposit costs, particularly on CDs [36][38] Question: Loan growth outlook and pipeline - The loan pipeline is strong at approximately $1.4 billion, with expectations for mid to upper single-digit loan growth [80] Question: Credit quality and charge-off expectations - Management feels confident about credit metrics, with any increases in criticized loans primarily related to the Premier acquisition [58] Question: Capital management and future M&A - The company is currently in capital build mode and is focused on integrating the Premier acquisition before considering further M&A opportunities [67][68]

Financial Data and Key Metrics Changes - For the quarter ending March 31, 2025, the company reported net income excluding merger and restructuring expenses of $51.2 million, with diluted earnings per share of $0.66, representing an 18% year-over-year increase despite a significant increase in shares outstanding due to the Premier Financial acquisition [5][11] - The net interest margin improved to 3.35%, and the efficiency ratio improved to 58.62% [5][15] - Total assets increased by 54% year-over-year to $27.4 billion, with total portfolio loans increasing by 57.3% [12][13] Business Line Data and Key Metrics Changes - Organic loan growth was 8% year-over-year and 4% quarter-over-quarter annualized, driven by strong performance across banking teams [8][12] - Total commercial loans increased by 10% year-over-year, with a commercial loan pipeline of approximately $1.3 billion, of which over 25% is attributable to Premier [8][12] - Organic deposit growth was $922 million year-over-year and $285 million quarter-over-quarter, with total deposits exceeding $21.3 billion [7][13] Market Data and Key Metrics Changes - The company’s loan portfolio is diversified across a nine-state footprint, with approximately 70% in the Mid-Atlantic region [10] - The company has limited exposure to the DC market and no government contractor line of business, which mitigates risks associated with regional economic downturns [10] Company Strategy and Development Direction - The successful acquisition of Premier Financial is expected to enhance market position and accelerate long-term growth strategy [4][6] - The company aims to fund full-year loan growth with deposits, maintaining a focus on organic growth and positive operating leverage [7][12] - The company is also focused on disciplined expense management to drive positive operating leverage throughout 2025 [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future loan growth, expecting mid-single-digit growth during 2025, supported by a strong loan pipeline and market conditions [8][12] - The company is closely monitoring macroeconomic factors, including potential impacts from trade negotiations and tariffs, but remains confident in its diversified portfolio [10][11] - Management anticipates two Fed rate cuts in June and September but does not expect a significant impact on net interest margin due to a neutral rate-sensitive position [19] Other Important Information - The provision for credit losses for the first quarter was $69 million, with the allowance for credit losses at $234 million, reflecting a coverage ratio increase to 1.25% [14][15] - Non-interest income totaled $34.7 million, a 13% increase from the prior year, primarily due to the Premier acquisition [16] Q&A Session Summary Question: Margin outlook on an organic basis - Management anticipates roughly 4 to 6 basis points of margin improvement per quarter on an organic basis, with Premier contributing to a slight reduction in that range [23][24] Question: Clarity on expense run rate - The expected expense run rate is in the low $140 million range for each of the next three quarters, with full cost savings expected to be realized by the fourth quarter [27][28] Question: Bond yields and deposit costs - The bond yields were approximately 3.07% at quarter-end, and management expects continued reduction in deposit costs, particularly on CDs [35][36] Question: Loan growth outlook and pipeline - The loan pipeline is strong at approximately $1.4 billion, with expectations for mid to upper single-digit loan growth, despite some pullbacks due to tariffs [80][81] Question: Credit quality and charge-off expectations - Management remains confident in credit metrics, with any increases in criticized loans primarily related to the Premier acquisition [56][58] Question: Capital management and deployment - The company is currently in capital build mode and is focused on digesting the Premier acquisition before considering further M&A or buybacks [68][70]

29 April 2025 Forward-looking statements in this report relating to WesBanco's plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The information contained in this report should be read in conjunction with WesBanco's Form 10-K for the year ended December 31, 2024 and documents subsequently filed by WesBanco with the Securities and Exchange Commission ("SEC"), which are ava ...

Core Insights - WesBanco reported $194.39 million in revenue for Q1 2025, a year-over-year increase of 33.3% [1] - The EPS for the same period was $0.66, up from $0.56 a year ago, exceeding the consensus estimate of $0.60 by 10% [1] Financial Performance - Revenue exceeded the Zacks Consensus Estimate of $186.97 million by 3.97% [1] - Net Interest Margin was reported at 3.4%, above the average estimate of 3.1% [4] - Efficiency Ratio stood at 58.6%, better than the average estimate of 61.9% [4] - Total non-performing loans were $81.49 million, lower than the average estimate of $94.38 million [4] - Net Interest Income was $158.52 million, surpassing the estimate of $156.27 million [4] Other Key Metrics - Total Non-Interest Income was $34.67 million, slightly below the estimate of $35.53 million [4] - Mortgage banking income was $1.14 million, compared to the average estimate of $1.55 million [4] - Service charges on deposits were $8.59 million, lower than the estimate of $8.97 million [4] - The stock has returned -3.8% over the past month, compared to the S&P 500's -0.8% change [3]

Core Insights - WesBanco (WSBC) reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.60 per share, and up from $0.56 per share a year ago, representing a 10% earnings surprise [1] - The company posted revenues of $194.39 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.97%, and up from $145.81 million year-over-year [2] - WesBanco has outperformed consensus EPS estimates three times in the last four quarters and has also topped revenue estimates three times during the same period [2] Earnings Outlook - The sustainability of WesBanco's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.86 on revenues of $255.39 million, and for the current fiscal year, it is $3.30 on revenues of $969.77 million [7] Industry Context - The Banks - Southeast industry, to which WesBanco belongs, is currently ranked in the top 15% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5][6]

Core Viewpoint - WesBanco, Inc. reported a net loss of $11.5 million for Q1 2025, primarily due to the acquisition of Premier Financial Corp. and associated credit loss provisions, despite strong organic loan and deposit growth [1][4]. Financial Performance - Net income available to common shareholders, excluding certain provisions and expenses, was $51.2 million, or $0.66 per share, compared to $33.2 million, or $0.56 per share, in Q1 2024 [1][3]. - Total interest income for Q1 2025 was $253.2 million, a 29.6% increase year-over-year, driven by higher loan and securities yields [23]. - Net interest income increased by 39.1% year-over-year to $158.5 million, reflecting the larger balance sheet from the PFC acquisition [10][23]. Acquisition Impact - The acquisition of Premier Financial Corp. added $5.9 billion in loans and $6.9 billion in deposits, significantly boosting WesBanco's total assets to $27.4 billion, a 54.2% increase year-over-year [5][11]. - The acquisition is expected to enhance WesBanco's market position and long-term growth strategy [4]. Loan and Deposit Growth - Total portfolio loans increased by 57.3% year-over-year to $18.7 billion, with organic growth contributing $0.9 billion [5][11]. - Total deposits rose by 57.8% year-over-year to $21.3 billion, with organic deposit growth of $922 million, or 6.8% [6][11]. Credit Quality - As of March 31, 2025, total loans past due as a percentage of the loan portfolio decreased to 0.43%, indicating stable credit quality [8]. - The allowance for credit losses was $233.6 million, with a coverage ratio of 1.25% [2][8]. Balance Sheet Strength - Total assets reached $27.4 billion, with total securities increasing by 30.1% year-over-year to $4.3 billion [5][28]. - The efficiency ratio improved to 58.6%, reflecting better expense management and the benefits of the PFC acquisition [11][25]. Capital Position - WesBanco's capital ratios remain strong, with a Tier I leverage ratio of 11.01% and a common equity Tier 1 capital ratio of 9.99% as of March 31, 2025 [14].

Core Viewpoint - WesBanco (WSBC) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a strong history of exceeding expectations [1]. Group 1: Earnings Performance - WesBanco has a solid track record of surpassing earnings estimates, with an average surprise of 19.59% over the last two quarters [2]. - In the most recent quarter, WesBanco reported earnings of $0.71 per share, exceeding the expected $0.54 per share, resulting in a surprise of 31.48% [3]. - For the previous quarter, the company reported $0.56 per share against an estimate of $0.52 per share, achieving a surprise of 7.69% [3]. Group 2: Earnings Estimates and Predictions - Recent changes in earnings estimates for WesBanco have been favorable, with a positive Zacks Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [6]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [7]. - WesBanco currently has an Earnings ESP of +0.42%, suggesting increased analyst optimism regarding its near-term earnings potential [9]. Group 3: Upcoming Earnings Report - The next earnings report for WesBanco is anticipated to be released on April 29, 2025 [9].

Group 1 - WesBanco, Inc. (NASDAQ: WSBC) is rated as a "Buy" due to the recent "Tariff Selloff" which has led the stock to trade at 8.4x Price to Earnings Forward (Non-GAAP) [1] - There is a potential upside of 20% for WesBanco's stock over the next 12 months [1]

Financial Results Announcement - Wesbanco, Inc. will release its financial results for Q1 2025 after market close on April 29, 2025[6] - A conference call to discuss the Q1 2025 financial results is scheduled for April 30, 2025, at 9:00 a.m. ET[6] - The financial results will provide insights into the company's operational performance and financial condition for the first quarter[6] - The scheduled conference call will allow management to address investor questions and provide further insights into future strategies[6] - The press release regarding the financial results is attached as Exhibit 99.1[6] Stock Information - The company’s common stock is traded on the Nasdaq Global Select Market under the symbol WSBC[4] - The company’s preferred stock is also traded on the Nasdaq Global Select Market under the symbol WSBCP[4] Compliance and Reporting - The company is not classified as an emerging growth company under the Securities Act of 1933[5] - The company has not indicated any changes to its accounting standards compliance[5] - The report was signed by Daniel K. Weiss, Jr., Senior Executive Vice President and CFO[9]

Core Points - WesBanco, Inc. will host a conference call on April 30, 2025, to review its financial results for the first quarter of 2025 [1] - The financial results are expected to be released after market close on April 29, 2025 [1] Access Information - Interested parties can access the live webcast through the Investor Relations section of WesBanco's website or by dialing specific numbers for participation [2] - A replay of the conference call will be available starting at 12:00 p.m. ET on April 30, 2025, and will end at 12 a.m. ET on May 14, 2025 [3] Company Overview - WesBanco, Inc. has over 150 years of experience as a community-focused financial services partner, with total assets exceeding $27 billion [4] - The company offers a comprehensive range of services including retail and commercial banking, trust, brokerage, wealth management, and insurance [4] - WesBanco's Trust and Investment Services manage over $7 billion in assets, with securities account values exceeding $2 billion [4]