Core Points - WesBanco, Inc. has been recognized by Newsweek as one of America's Best Regional Banks for 2025, highlighting its 155 years of community-focused service [1][2] - The recognition reflects WesBanco's commitment to enhancing community prosperity through exceptional financial services and strong relationships [2] - The selection process for the top 500 regional banks included an independent survey of over 71,000 U.S. citizens, along with an analysis of profitability, net loans and leases, and extensive social media reviews [2] Company Overview - WesBanco, Inc. is a diversified, multi-state bank holding company headquartered in Wheeling, West Virginia, with total assets of $18.7 billion as of December 31, 2024 [4] - The company offers a comprehensive range of financial services, including retail and commercial banking, trust, brokerage, wealth management, and insurance services [4] - WesBanco has received multiple accolades for soundness, stability, customer experience, and workplace culture, including being named to Forbes' list of America's Most Trusted Companies [3]

Core Points - WesBanco, Inc. and Premier Financial Corp. have received all necessary regulatory approvals for their merger, with overwhelming shareholder support [1][2] - The merger is expected to close on or about February 28, 2025, pending customary closing conditions [2] - The combined entity will have approximately $27 billion in assets, making it the 8th largest bank in Ohio by deposit market share and expanding its presence in Indiana [3] WesBanco, Inc. - WesBanco has over 150 years of experience as a community-focused financial services provider, with total assets of $18.7 billion as of December 31, 2024 [4] - The company offers a comprehensive range of banking solutions, including retail and commercial banking, trust, brokerage, wealth management, and insurance services [4] - WesBanco aims to leverage large bank capabilities while maintaining a local focus to enhance community prosperity [4] Premier Financial Corp. - Premier Financial Corp. is headquartered in Defiance, Ohio, and operates 73 branches and nine loan offices across Ohio, Michigan, Indiana, and Pennsylvania [5] - The company focuses on community banking and has a dedicated team of wealth professionals for each branch [5]

Financial Data and Key Metrics Changes - The company reported strong loan growth fully funded through deposit growth [5] - Improved net interest margin was highlighted as a key performance indicator [5] Business Line Data and Key Metrics Changes - Specific details on individual business lines were not provided in the available content [1] Market Data and Key Metrics Changes - No specific market data or key metrics changes were mentioned in the available content [1] Company Strategy and Development Direction and Industry Competition - The company plans to provide an update on operations and an initial outlook for 2025, indicating a forward-looking strategy [5] Management's Comments on Operating Environment and Future Outlook - Management emphasized strong performance in the fourth quarter and full year 2024, suggesting a positive outlook for the future [5] Other Important Information - The call included cautionary statements regarding forward-looking information and non-GAAP measures [4] Q&A Session All Questions and Answers - No specific questions and answers from the Q&A session were provided in the available content [1]

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, 2023 and documents subsequently filed by WesBanco with the Securities and Exchange Commission ("SEC") including WesBanco's Form 10 ...

Core Insights - WesBanco reported revenue of $162.89 million for Q4 2024, a year-over-year increase of 9.3% and exceeding the Zacks Consensus Estimate of $157 million by 3.75% [1] - The company achieved an EPS of $0.71, up from $0.55 a year ago, representing a surprise of 31.48% compared to the consensus estimate of $0.54 [1] Financial Performance Metrics - Net Interest Margin was reported at 3%, matching the average estimate from two analysts [4] - Annualized net loan charge-offs and recoveries as a percentage of average loans stood at 0.1%, better than the average estimate of 0.2% [4] - Efficiency Ratio was recorded at 61.2%, outperforming the average estimate of 64.5% [4] - Mortgage banking income reached $1.23 million, slightly above the average estimate of $1.15 million [4] - Total Non-Interest Income was $36.39 million, significantly higher than the average estimate of $30.20 million [4] Stock Performance - WesBanco shares have returned -4.2% over the past month, contrasting with the Zacks S&P 500 composite's increase of 2.1% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Group 1 - WesBanco reported quarterly earnings of $0.71 per share, exceeding the Zacks Consensus Estimate of $0.54 per share, and showing an increase from $0.55 per share a year ago, resulting in an earnings surprise of 31.48% [1] - The company posted revenues of $162.89 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.75%, compared to $149.07 million in the same quarter last year [2] - WesBanco has surpassed consensus EPS estimates two times over the last four quarters and has also topped consensus revenue estimates two times during the same period [2] Group 2 - The stock has underperformed the market, losing about 1.8% since the beginning of the year, while the S&P 500 has gained 2.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.60 on revenues of $196 million, and for the current fiscal year, it is $3.09 on revenues of $961 million [7] - The Zacks Industry Rank for Banks - Southeast is in the top 24% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Core Viewpoint - WesBanco, Inc. reported strong financial performance for the fourth quarter and the full year of 2024, with significant loan and deposit growth, alongside a pending merger with Premier Financial Corp. [1][3] Financial Performance - Net income for Q4 2024 was $47.1 million, or $0.70 per share, compared to $32.4 million and $0.55 per share in Q4 2023, marking a 45.2% increase in net income year-over-year [1][2] - For the full year 2024, net income was $141.4 million, or $2.26 per share, down from $148.9 million, or $2.51 per share in 2023 [1][2] - Excluding restructuring and merger-related expenses, net income for 2024 was $146.4 million, or $2.34 per share, compared to $151.9 million, or $2.56 per share in 2023 [1][2] Loan and Deposit Growth - Total loans increased by $1 billion, or 8.7%, year-over-year, reaching $12.7 billion, driven by a 10.7% increase in commercial loans [4][11] - Deposits rose to $14.1 billion, up 7.3% year-over-year, with a 3.9% increase when excluding certificates of deposit [5][11] - The loan-to-deposit ratio was 89.2%, indicating continued capacity for loan growth [11] Credit Quality - Total loans past due as a percentage of the loan portfolio was 0.47%, with non-performing assets at 0.22%, both remaining low historically [7] - The allowance for credit losses was $138.8 million, providing a coverage ratio of 1.10% [7] Net Interest Margin and Income - The net interest margin for Q4 2024 was 3.03%, an improvement of 8 basis points from Q3 2024 [8] - Net interest income for Q4 2024 was $126.5 million, a 7.4% increase year-over-year, while total net interest income for the year was $478.2 million, a slight decrease of 0.7% [9][11] Non-Interest Income - Non-interest income for Q4 2024 was $36.4 million, a 21.0% increase from Q4 2023, driven by higher service charges and trust fees [10][11] - For the full year, non-interest income increased by $7.5 million, or 6.3%, to $128.0 million [12] Non-Interest Expense - Non-interest expense for Q4 2024 was $100.5 million, a 1.0% increase year-over-year, primarily due to higher equipment and software expenses [13][14] - For the full year, non-interest expense increased by $9.3 million, or 2.4%, to $395.5 million [14] Capital Position - As of December 31, 2024, WesBanco maintained strong regulatory capital ratios, with a Tier I leverage ratio of 10.68% and a common equity Tier 1 capital ratio of 12.07% [15]

Group 1 - The upcoming report from WesBanco (WSBC) is expected to reveal quarterly earnings of $0.54 per share, indicating a decline of 1.8% compared to the year-ago period, while revenues are forecasted at $157 million, representing an increase of 5.3% year over year [1] - Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged, indicating analysts' reassessment of their initial projections [1] - Prior to earnings announcements, revisions to earnings estimates are crucial as they serve as significant indicators for predicting potential investor actions regarding the stock [2] Group 2 - Analysts predict 'Net Interest Margin' at 3.0%, an increase from the year-ago value of 3% [4] - The 'Efficiency Ratio' is estimated to be 64.5%, down from the year-ago value of 66.8% [4] - 'Total Non-Interest Income' is forecasted to reach $30.20 million, slightly up from the year-ago figure of $30.07 million [4] Group 3 - Shares of WesBanco have demonstrated returns of -4.1% over the past month, compared to the Zacks S&P 500 composite's -0.4% change, indicating underperformance [5] - WesBanco holds a Zacks Rank 4 (Sell), suggesting it is expected to lag the overall market performance in the near future [5]

Core Insights - WesBanco, Inc. has been recognized in Forbes' 2025 Most Trusted Companies in America list, highlighting its commitment to trust and stakeholder relationships [1][3] - The recognition is based on a comprehensive analysis of employee trust, customer trust, investor trust, and media sentiment, utilizing hundreds of millions of data points [3] Company Performance - WesBanco has received multiple accolades for its financial performance, including being named one of America's Best Banks by Forbes in 2024 [4] - The bank has maintained an "Outstanding" FDIC Community Reinvestment Act Rating for eight consecutive years, reflecting its efforts in serving low- and moderate-income neighborhoods [4] Company Overview - WesBanco, Inc. is a community-focused, regional financial services partner with over 150 years of experience, offering a range of banking solutions, trust, brokerage, wealth management, and insurance services [5] - As of September 30, 2024, WesBanco has total assets of $18.5 billion, with $6.1 billion in Trust and Investment Services assets under management and $1.9 billion in securities account values [5]

Financial Results Announcement - Wesbanco, Inc. will release its financial results for the fourth quarter of 2024 after the market close on January 22, 2025[5] - Management will host a conference call to discuss Q4 2024 financial results on January 23, 2025, at 3:00 p.m. ET[5] - The press release announcing the Q4 2024 earnings release and conference call is attached as Exhibit 99.1 to the report[8] Merger Approval and Documentation - The proposed merger with Premier Financial was approved by shareholders of both companies on December 11, 2024[6] - The Form S-4 registration statement, including the joint proxy statement/prospectus, was declared effective on October 28, 2024[6] - Shareholders and interested parties are urged to review the Form S-4 and joint proxy statement/prospectus for important merger details[6] - The Form S-4 and related documents are available for free on the SEC's website and the websites of Wesbanco and Premier Financial[6]