Financial Performance - Net income for Q3 2024 was $34.7 million, or $0.54 per share, compared to $34.3 million and $0.58 per share in Q3 2023[1]. - Non-interest income for Q3 2024 was $29.6 million, a decrease of 4.1% year-over-year, primarily due to lower net swap fee income[11]. - Net income available to common shareholders was $34,741,000, a 1.3% increase from $34,311,000 in the prior year[32]. - Net income per common share - diluted decreased by 6.9% to $0.54 compared to $0.58 in the same quarter of 2023[32]. - Net income available to common shareholders for Q3 2024 was $34,741,000, an increase from $26,385,000 in Q2 2024, representing a growth of 31.5%[40]. - The company reported a total net income available to common shareholders of $94,287,000 for the year to date, down from $116,470,000 in the previous year[45]. Loan and Deposit Growth - Total loans increased by $1.1 billion year-over-year, with a 10.0% growth rate, and deposits reached $13.8 billion, up 5.7% year-over-year[3][5]. - Total commercial loans reached $8.9 billion, reflecting an 11.9% year-over-year increase and a 7.5% quarter-over-quarter annualized growth[4]. - Deposits grew 12.1% annualized from the previous quarter, with total demand deposits representing 54% of total deposits[6]. - Total deposits increased by 5.7% to $13,837,343,000 from $13,090,228,000 in 2023[36]. - Portfolio loans, net of unearned income, rose by 10.0% to $12,451,430,000 from $11,315,873,000 in 2023[36]. Interest Income and Expenses - Total interest and dividend income increased by 16.4% year-over-year to $213,729,000 for the three months ended September 30, 2024, compared to $183,589,000 in 2023[32]. - Net interest income after provision for credit losses was $116,344,000, reflecting a 4.5% increase from $111,355,000 in the same period last year[32]. - Total interest expense rose by 40.5% to $92,587,000 for the three months ended September 30, 2024, compared to $65,907,000 in 2023[32]. - The net interest margin for Q3 2024 was 2.95%, stable compared to the previous quarter, but down 8 basis points year-over-year due to higher funding costs[9][10]. Credit Quality and Allowance for Losses - The allowance for credit losses increased to 1.13% of total loans, amounting to $140.9 million, due to higher unemployment assumptions[8]. - The provision for credit losses decreased by 24.2% to $4,798,000 from $6,327,000 in the same period last year[32]. - The annualized net loan charge-offs/average loans increased significantly to 0.11% from 0.03%, a rise of 266.67%[34]. - Total past due loans increased to $54,189,000 in Q3 2024, up from $29,408,000 in Q2 2024, marking an increase of 84.0%[42]. - The allowance for credit losses on loans increased to $140,872,000 in Q3 2024 from $136,509,000 in Q2 2024, a rise of 2.0%[42]. Capital and Regulatory Ratios - Regulatory capital ratios remain strong, with a Tier I risk-based capital ratio of 12.89% and a common equity Tier 1 capital ratio of 11.89% as of September 30, 2024[17]. - Total shareholders' equity increased by 14.4% to $2,801,585,000 from $2,447,941,000 in 2023[36]. - Common equity tier 1 capital ratio (CET 1) rose to 11.89% in Q3 2024 from 10.58% in Q2 2024[42]. - Tier I leverage capital ratio improved to 10.69% in Q3 2024 from 9.72% in Q2 2024[42]. Merger and Acquisition - The company raised $200 million in common equity during the quarter to support future growth and the pending acquisition of Premier Financial Corp.[3][16]. - The proposed merger with Premier Financial Corp. is subject to various risks, including integration challenges and shareholder approvals[23]. - The merger is expected to yield cost savings and revenue synergies, although these may not be fully realized within the anticipated timeframes[23]. - Shareholders are encouraged to read the joint proxy statement/prospectus regarding the merger for important information[29]. - The merger's success is contingent on obtaining necessary governmental approvals and shareholder votes[23]. Operational Efficiency - Non-interest expense for Q3 2024 was $99.2 million, a 2.0% increase year-over-year, driven by higher operating expenses[13]. - The efficiency ratio improved to 65.29% for the three months ended September 30, 2024, compared to 66.11% in the previous quarter, indicating enhanced operational efficiency[46]. - Full-time equivalent employees decreased to 2,277 in Q3 2024 from 2,370 in Q2 2024, a reduction of 3.9%[40].

Financial Performance - Net income for the three months ended June 30, 2024, was $28,916 thousand, a decrease of 35.6% from $44,880 thousand in the same period of 2023[10]. - Earnings per common share (diluted) for the three months ended June 30, 2024, was $0.44, down from $0.71 in the same period of 2023[10]. - Comprehensive income for the three months ended June 30, 2024, was $28,630 thousand, compared to $14,652 thousand in 2023, indicating a significant increase[11]. - Net income available to common shareholders for Q2 2024 was $26.385 million, a decrease of 37.8% from $42.349 million in Q2 2023[33]. - For the six months ended June 30, 2024, net income available to common shareholders was $59.546 million, a decrease of 27.5% from $82.158 million in the same period of 2023[33]. Asset and Loan Growth - Total assets increased to $18,128,375 thousand as of June 30, 2024, compared to $17,712,374 thousand at December 31, 2023, reflecting a growth of approximately 2.34%[8]. - Net portfolio loans reached $12,121,002 thousand as of June 30, 2024, an increase from $11,507,786 thousand at December 31, 2023, representing a growth of about 5.3%[8]. - Total loans amounted to $12,282,944 thousand, an increase from $11,654,815 thousand at December 31, 2023, representing a growth of approximately 5.4%[48]. - The total portfolio loans increased to $12,257,511 thousand at June 30, 2024, compared to $11,638,461 thousand at December 31, 2023, indicating a growth of about 5.3%[48]. - Total deposits increased to $13,432,373 thousand as of June 30, 2024, compared to $13,168,704 thousand at December 31, 2023, marking a growth of approximately 2%[8]. Credit Losses and Provisions - Provision for credit losses increased to $10,541 thousand for the three months ended June 30, 2024, compared to $3,028 thousand in the same period of 2023, indicating a significant rise in credit risk[10]. - The total allowance for credit losses on loans and loan commitments increased to $145.703 million as of June 30, 2024, up from $139.279 million at the end of 2023, representing a growth of approximately 4.1%[51]. - The provision for loan losses for the six months ended June 30, 2024, was $13.991 million, compared to a provision of $4.876 million for the same period in 2023, indicating a significant increase[51]. - The net charge-offs for the first half of 2024 amounted to $8.157 million, compared to $2.500 million for the same period in 2023, reflecting a rise of approximately 226.3%[51]. - The allowance for credit losses on loans increased to $136.509 million as of June 30, 2024, from $130.290 million at the end of June 2023, marking an increase of about 4.5%[51]. Non-Interest Income and Expenses - Non-interest income totaled $31,355 thousand for the three months ended June 30, 2024, slightly down from $31,841 thousand in 2023[10]. - Total non-interest income of $61.984 million for the six months ended June 30, 2024, compared to $59.493 million for the same period in 2023, indicating an increase of 4.2%[130]. - Total non-interest expense increased to $102,392 thousand for the three months ended June 30, 2024, compared to $96,437 thousand in 2023, reflecting a rise of approximately 6.5%[10]. - Non-interest expense for the six months ended June 30, 2024, was $199.585 million, up from $192.560 million for the same period in 2023, representing an increase of 3.1%[130]. - The total service charges on deposits for the three months ended June 30, 2024, were $7.111 million, up from $6.232 million in 2023[121]. Securities and Investments - As of June 30, 2024, total available-for-sale debt securities amounted to $2.42 billion, with a fair value of $2.10 billion, reflecting unrealized losses of $318.76 million[37]. - The total debt securities held by the company reached $3.60 billion, with a fair value of $3.13 billion, resulting in total unrealized losses of $470.12 million[41]. - The fair value of available-for-sale debt securities with unrealized losses totaled $2,029,469 thousand as of June 30, 2024, with unrealized losses amounting to $318,759 thousand[45]. - The company holds no crypto assets, thus the amendments regarding crypto asset accounting are not expected to impact its financial statements[23]. - The company reported net securities gains of $672,000 for the six months ended June 30, 2024, compared to $350,000 for the same period in 2023[43]. Mergers and Acquisitions - The company entered into a definitive Agreement and Plan of Merger with Premier Financial Corp. on July 25, 2024, which will result in Premier Financial merging into Wesbanco, Inc.[132]. - The merger agreement stipulates that Premier Financial shareholders will receive 0.80 shares of Wesbanco's common stock for each share of Premier Financial's common stock[133]. - The company expects to receive approximately $200 million in gross proceeds from a private placement of 7,272,728 shares at $27.50 per share, closing on August 1, 2024[139]. Economic and Market Conditions - The primary macroeconomic drivers for the allowance model included a projected national unemployment rate of 4.4% at quarter-end, expected to rise to an average of 4.8% over the forecast period[49]. - The effective tax rate for the first half of 2024 was 17.6%, a slight decrease from 17.9% in the first half of 2023[153]. - The company operates through 192 branches and 182 ATM machines across multiple states, significantly impacted by economic factors such as market interest rates and regional economic conditions[143].

Financial Performance - Net income available to common shareholders was $33,162 thousand for Q1 2024, a decrease of 16.8% from $39,810 thousand in Q1 2023[11]. - Comprehensive income for Q1 2024 was $27,464 thousand, significantly lower than $70,358 thousand in Q1 2023, a decrease of 61.0%[13]. - Net income for the three months ended March 31, 2024, was $35.693 million, a decrease from $42.341 million in the same period of 2023, representing a decline of 15.5%[14]. - Net income available to common shareholders for the three months ended March 31, 2024, was $33.162 million, a decrease from $39.810 million in the same period of 2023[34]. - Basic earnings per common share decreased to $0.56 for Q1 2024 from $0.67 in Q1 2023[34]. Income and Expenses - Net interest income after provision for credit losses decreased to $109,952 thousand for the three months ended March 31, 2024, down from $120,755 thousand in the same period of 2023, a decline of 8.97%[11]. - Non-interest income increased to $30,629 thousand for Q1 2024, up 10.7% from $27,653 thousand in Q1 2023[11]. - Non-interest expense increased by $4.2 million or 4.5% year-over-year, reaching $97.2 million, due to higher salaries, equipment expenses, and other operating costs[139]. - The provision for credit losses was $4,014 thousand for Q1 2024, compared to $3,577 thousand in Q1 2023, indicating a rise of 12.2%[11]. Assets and Liabilities - Total assets increased to $17,772,735 thousand as of March 31, 2024, compared to $17,712,374 thousand at December 31, 2023, reflecting a growth of 0.34%[9]. - Total liabilities increased to $15,234,373 thousand as of March 31, 2024, compared to $15,179,312 thousand at December 31, 2023, a growth of 0.36%[9]. - The total shareholders' equity increased to $2.538 billion as of March 31, 2024, from $2.475 billion as of March 31, 2023, reflecting an increase of 2.5%[14]. Deposits and Loans - Total deposits rose to $13,496,773 thousand as of March 31, 2024, an increase of 2.48% from $13,168,704 thousand at the end of 2023[9]. - The recorded investment in total loans increased to $11.89 billion as of March 31, 2024, up from $11.65 billion at the end of 2023, showing growth in the loan portfolio[49]. - The total portfolio loans as of March 31, 2024, amounted to $11.873 billion, compared to $11.638 billion as of December 31, 2023, indicating an increase of approximately 2.02%[53]. - The total amount of loans classified as "Pass" increased to $8.164 billion as of March 31, 2024, from $7.977 billion as of December 31, 2023, reflecting a growth of about 2.34%[61]. Credit Quality - The provision for loan losses for the three months ended March 31, 2024, was $4,450 thousand, a significant decrease from a provision of $(3,621) thousand in the same period of 2023[52]. - Non-performing loans decreased to 0.28% of total portfolio loans as of March 31, 2024, down from 0.36% a year earlier[150]. - The allowance for credit losses on loans was $129,190 thousand at the end of Q1 2024, up from $130,675 thousand at the end of 2023, showing a slight decrease of about 1.1%[52]. - Criticized loans classified as "compromised" totaled $171.536 million as of March 31, 2024, compared to $183.174 million as of December 31, 2023, showing a decrease of approximately 6.36%[61]. Dividends - The company declared a dividend of $0.36 per common share for Q1 2024, up from $0.35 in Q1 2023, reflecting a 2.86% increase[11]. - Common dividends declared were $21.179 million for Q1 2024, with a per-share dividend of $0.36, compared to $20.561 million and $0.35 per share in Q1 2023[16]. Market and Economic Conditions - The allowance for credit losses methodology incorporates macroeconomic factors, with a projected national unemployment rate of 4.3% at quarter-end, expected to rise to 4.7%[50]. - Wesbanco recorded $5.9 million in net charge-offs during Q1 2024, reflecting the impact of economic conditions on credit quality[50]. - The primary macroeconomic drivers for the allowance for credit losses include forecasts of national unemployment projected at 4.3%[188]. Trust and Investment Services - Total trust fees for the three months ended March 31, 2024, were $8.08 million, an increase from $7.49 million in the same period of 2023, representing an increase of 7.9%[119]. - Digital banking income for the three months ended March 31, 2024, was $4.70 million, compared to $4.61 million in the same period of 2023, showing a growth of 1.9%[119]. - The market value of assets managed or held in custody by the trust and investment services segment was approximately $5.6 billion at March 31, 2024, compared to $5.0 billion at the same date in 2023, reflecting a growth of 12%[127].

Financial Performance - For the twelve months ended December 31, 2023, net income available to common shareholders was $148.9 million, or $2.51 per diluted share, down from $182.0 million, or $3.02 per diluted share in 2022[194]. - Net income available to common shareholders was $148.91 million in 2023, down from $181.99 million in 2022, a decline of 18.2%[204]. - Earnings per common share—basic decreased to $2.51 in 2023 from $3.03 in 2022, representing a decline of 17.2%[198]. - Return on average assets fell to 0.86% in 2023, down from 1.08% in 2022, a decrease of 20.4%[198]. - Interest income increased by $197.9 million, or 38.5%, to $711.5 million in 2023 compared to 2022[194]. - Non-interest income increased by $3.1 million, or 2.6%, driven by net securities gains and gains on other real estate owned[194]. - The provision for credit losses was recorded in 2023, contrasting with a benefit from a release of provision in the prior year[194]. - Interest expense increased by $190.8 million in 2023 compared to 2022 due to higher costs across all interest-bearing liability categories[214]. - The cost of interest-bearing liabilities rose by 183 basis points to 2.25% in 2023[214]. - The cost of interest-bearing deposits increased by 148 basis points from 2022 to 2023, reflecting the impact of rising federal funds rates[212]. Assets and Capital - As of December 31, 2023, Wesbanco's total assets approximated $17.7 billion, with a market value of assets under management in the trust and investment services segment at approximately $5.4 billion[16]. - Total assets as of December 31, 2023, were $17.7 billion, an increase of 4.6% compared to December 31, 2022[195]. - Wesbanco's Common Equity Tier 1 (CET1) ratio was 10.99%, Tier 1 capital ratio was 12.05%, and total capital ratio was 14.91%, all exceeding minimum requirements[58]. - Wesbanco Bank's CET1, Tier 1, and total capital to risk-adjusted assets ratios were 12.13%, 12.13%, and 12.97%, respectively, as of December 31, 2023[58]. - Wesbanco's leverage ratio was 9.87% and the Bank's leverage ratio was 9.93% as of December 31, 2023[60]. - Wesbanco's capital levels met the "well-capitalized" standards under the Federal Deposit Insurance Corporation Improvement Act as of December 31, 2023[64]. - Common equity tier 1 capital ratio (CET 1) decreased to 10.99% in 2023 from 11.20% in 2022, a decline of 1.9%[198]. Loans and Securities - Total portfolio loans rose to $11.6 billion, reflecting an 8.7% increase year-over-year[195]. - As of December 31, 2023, approximately 21% of Wesbanco's loan portfolio was comprised of residential real estate loans, and 56% was comprised of commercial real estate loans[114]. - Approximately 36% of Wesbanco's total securities portfolio was invested in municipal bonds as of December 31, 2023[117]. - Criticized and classified loan balances decreased to 2.22% of total portfolio loans, down from 2.34% at December 31, 2022[195]. Dividends and Shareholder Returns - For the year ended December 31, 2023, Wesbanco declared cash dividends of approximately $10.1 million to preferred shareholders and $82.9 million to common shareholders[43]. - The quarterly dividend was increased to $0.36 per share in Q4 2023, marking the seventeenth increase over the last thirteen years[197]. - Dividends declared per common share increased to $1.41 in 2023 from $1.37 in 2022, a growth of 2.9%[198]. - The cumulative total shareholder return for Wesbanco was 105.70 as of December 31, 2023, compared to 118.62 in 2022[172]. Employee and Corporate Culture - Wesbanco employed 2,321 full-time equivalent employees as of December 31, 2023, with an average tenure of approximately 10 years for all employees and over 16 years for executive officers[27]. - The turnover rate for Wesbanco in 2023 was 19%, while the turnover rate for officers was 15%[28]. - Wesbanco's corporate culture emphasizes customer and employee satisfaction, with initiatives focused on diversity and inclusion[29][31]. - The company has engaged in leadership training and talent development programs, contributing to its recognition as one of the best workplaces in several markets[32]. Community Engagement and Philanthropy - In 2023, Wesbanco provided philanthropic donations totaling $0.9 million and employees contributed 11,500 volunteer hours[33]. - The Wesbanco CDC has made over 231 loans totaling over $178 million, benefiting businesses in low-income communities and creating over 6,800 jobs[88]. - Wesbanco has been recognized with the "America Saves Designation of Savings Excellence for Banks" for eight consecutive years, highlighting its efforts to encourage savings during America Saves Week 2023[88]. - Wesbanco originated over $2 billion in community development loans in the past five years, supporting local communities[89]. Regulatory and Compliance - The company is subject to enhanced supervision due to exceeding the $10 billion asset threshold, impacting its regulatory compliance requirements[35]. - The USA PATRIOT Act imposes significant compliance obligations on Wesbanco, which could have legal and reputational consequences if not adhered to[95]. - The new Community Reinvestment Act amendments will be effective January 1, 2026, with Wesbanco categorized as a "large bank" under these rules[90]. Risks and Challenges - The company has faced intense competition from various financial institutions, which may impact its market share and profit potential[34]. - Increased competition from various financial institutions and fintech companies may hinder Wesbanco's ability to attract and retain customers[126]. - Changes in economic or political policies could adversely impact Wesbanco's business and its customers[101]. - The implementation of Basel III capital standards may negatively impact Wesbanco's capital requirements and overall financial condition[106]. - Wesbanco's ability to cope with inflation and manage non-interest income and expenses could significantly impact profitability[113]. - Significant declines in U.S. and global markets could negatively impact Wesbanco's earnings and credit quality of investment securities[111]. - The current expected credit losses accounting standard (CECL) could result in significant volatility in the estimation of credit losses, affecting financial results[120]. - The financial services industry is undergoing rapid technological change, and failure to keep pace could negatively affect Wesbanco's growth and profitability[146]. Operational Aspects - Wesbanco operates 192 branches and 183 ATMs across several states, including West Virginia, Ohio, and Kentucky[16]. - The company relies on third-party vendors for processing transactions, which could lead to disruptions if those vendors fail to maintain adequate controls[145]. - Wesbanco's growth may be hindered by the loss of key employees, which could adversely impact its business and financial condition[134]. - The company faces operational risks, including reputational risk and the risk of fraud or theft, which could materially affect its operations[133]. - Wesbanco's liquidity could be negatively impacted if it faces limitations on borrowings from the Federal Home Loan Bank system[135]. Cybersecurity - Cybersecurity risks continue to evolve, with no material impact from incidents involving third-party service providers in the last year[156]. - Wesbanco maintains a comprehensive cybersecurity program integrated into its enterprise risk management framework[153]. - The Enterprise Risk Management Committee includes directors with extensive experience in banking and cybersecurity, overseeing the bank's information security strategy[158].

Financial Performance - Net income for the three months ended September 30, 2023, was $36,842 thousand, a decline of 30.5% from $53,033 thousand in the same period of 2022[11]. - Basic earnings per common share for the three months ended September 30, 2023, was $0.58, down from $0.85 in the same period of 2022, a decrease of 31.8%[11]. - Net income available to common shareholders for the three months ended September 30, 2023, was $34.3 million, a decrease of 32% from $50.5 million in the same period of 2022[40]. - For the nine months ended September 30, 2023, net income was $116.5 million or $1.96 per diluted share, compared to $132.3 million or $2.19 per diluted share for the same period in 2022[143]. - The total comprehensive loss for the nine months ended September 30, 2023, was $297.906 million, compared to a loss of $266.640 million for the same period in 2022[128]. Asset and Deposit Changes - Total assets increased to $17,344,377 thousand as of September 30, 2023, compared to $16,931,905 thousand at December 31, 2022, reflecting a growth of 2.4%[9]. - Total deposits decreased slightly to $13,090,228 thousand as of September 30, 2023, from $13,131,090 thousand at December 31, 2022, a decrease of 0.3%[9]. - Cash, cash equivalents, and restricted cash at the end of the period stood at $495,082,000, up from $378,556,000 in 2022[18]. - The total amount of unfunded commercial loan commitments was $13.8 million as of September 30, 2023, down from $25.0 million as of December 31, 2022, a decrease of approximately 44.0%[67]. Loan and Credit Quality - The recorded investment in total loans increased to $11,333,550,000 at September 30, 2023, from $10,710,977,000 at December 31, 2022, representing a growth of approximately 5.8%[55]. - The total portfolio loans, including loans held for sale, reached $11,315,873,000 at September 30, 2023, compared to $10,702,728,000 at December 31, 2022, marking a significant increase[55]. - Non-performing loans decreased to 0.26% of total portfolio loans as of September 30, 2023, down from 0.32% at the end of Q3 2022[160]. - The total allowance for credit losses for loans and loan commitments at September 30, 2023, is $136.344 million, a decrease from $126.158 million at December 31, 2022[58]. - The provision for credit losses was $6.3 million in Q3 2023, compared to a negative provision of $0.5 million in Q3 2022[146]. Income and Expense Trends - Net interest income after provision for credit losses for the three months ended September 30, 2023, was $111,355 thousand, down from $125,036 thousand in the same period of 2022, a decrease of 10.9%[11]. - Total non-interest expense for the three months ended September 30, 2023, was $97,939 thousand, an increase of 6.5% from $91,941 thousand in the same period of 2022[11]. - Non-interest income decreased by $1.4 million or 4.3% in Q3 2023 compared to Q3 2022, largely due to a prior year's gain on the sale of equity investments[147]. - Non-interest expense increased by $6.0 million or 6.5% in Q3 2023 compared to Q3 2022, primarily due to increases in salaries and wages, employee benefits, equipment and software expenses, and FDIC insurance expenses[170]. Securities and Investments - Total available-for-sale debt securities amounted to $2.6 billion as of September 30, 2023, with unrealized losses of $392.9 million[44]. - The fair value of available-for-sale debt securities decreased from $2,529,140,000 on December 31, 2022, to $2,196,141,000 by September 30, 2023[117]. - The total gross unrealized securities losses increased by $94.3 million from $510.7 million at December 31, 2022, to $605.0 million at September 30, 2023[181]. - The total amount of commercial and industrial loans classified as "Pass" was $281.5 million in 2022, up from $189.2 million in 2021, reflecting a growth of 48.8%[86]. Derivatives and Interest Rate Swaps - Wesbanco had 210 customer interest rate swaps and caps with an aggregate notional amount of $1.4 billion as of September 30, 2023, up from 159 swaps with $0.9 billion in the previous year[89]. - Income from swap and cap fees for the three months ended September 30, 2023, was $2.5 million, an increase from $1.6 million in the same period of 2022[89]. - Wesbanco's total derivatives had a fair value of $97.424 million in assets and $95.644 million in liabilities, compared to $75.893 million in assets and $74.726 million in liabilities as of December 31, 2022[93]. Regulatory and Compliance - The company has adopted ASU 2022-02, which eliminates the accounting guidance for Troubled Debt Restructurings, effective January 1, 2023, impacting how loan modifications are reported[22]. - The allowance for credit losses methodology incorporates macroeconomic factors, with national unemployment projected to be 4.3% at quarter-end, expected to rise to an average of 4.7% over the forecast period[56].

Financial Performance - Net interest income for the three months ended June 30, 2023, was $121,567 thousand, up 8.3% from $112,228 thousand in the same period of 2022 [11]. - Net income for the six months ended June 30, 2023, was $87,221 thousand, slightly increasing from $86,870 thousand in the same period of 2022 [11]. - Earnings per common share for the three months ended June 30, 2023, was $0.71, an increase from $0.67 in the same period of 2022 [11]. - Comprehensive income for the six months ended June 30, 2023, was $85,010 thousand, compared to a loss of $84,071 thousand in the same period of 2022 [13]. - For the three months ended June 30, 2023, net income was $44.88 million, compared to $42.75 million for the same period in 2022, representing a year-over-year increase of 5.0% [14]. - Net income available to common shareholders for the three months ended June 30, 2023, was $42,349 thousand, an increase from $40,217 thousand in 2022, representing a growth of 5.3% [35]. - Net income available to common shareholders for Q2 2023 was $42.3 million, with diluted earnings per share of $0.71, compared to $40.2 million or $0.67 per diluted share in Q2 2022, representing a 5.2% increase in net income [134]. Asset and Deposit Changes - Total assets increased to $17,356,954 thousand as of June 30, 2023, compared to $16,931,905 thousand at December 31, 2022, reflecting a growth of 2.5% [10]. - Total deposits decreased to $12,861,434 thousand as of June 30, 2023, from $13,131,090 thousand at December 31, 2022, a decline of 2.1% [10]. - Total shareholders' equity decreased to $2.46 billion as of June 30, 2023, down from $2.55 billion at the end of March 2022, indicating a decline of approximately 3.2% [14]. - Total available-for-sale debt securities as of June 30, 2023, amounted to $2,329,222 thousand, down from $2,529,140 thousand as of December 31, 2022, indicating a decrease of 7.9% [39]. - Total liabilities measured at fair value remained stable at $77,458,000 as of June 30, 2023, consistent with the previous period [106]. Income and Expense Analysis - Total non-interest income rose to $31,841 thousand for the three months ended June 30, 2023, compared to $26,983 thousand in the same period of 2022, marking a growth of 18.5% [11]. - Non-interest expense, excluding restructuring and merger-related expenses, increased by $9.4 million or 10.8% to $96.4 million in Q2 2023 compared to Q2 2022 [139]. - Interest expense increased by $48.3 million in Q2 2023 compared to Q2 2022, reflecting the impact of federal funds rate increases [144]. - The provision for credit losses was $3,028 thousand for the three months ended June 30, 2023, compared to a reversal of $812 thousand in the same period of 2022 [11]. - The provision for loan losses for the six months ended June 30, 2023, is $4.876 million, compared to a provision of $(4.190) million for the same period in 2022, indicating a significant increase in provisions [52]. Loan and Credit Quality - The total recorded investment in loans increased to $11,158,934,000 at June 30, 2023, from $10,710,977,000 at December 31, 2022, representing a growth of approximately 4.2% [50]. - Non-performing loans decreased to 0.28% of total portfolio loans as of June 30, 2023, down from 0.35% in the previous year, showing improved loan quality [151]. - The allowance for credit losses on loans decreased to $120.166 million as of June 30, 2023, from $117.790 million at the end of 2022 [52]. - The total allowance for credit losses for loans and loan commitments as of June 30, 2023, is $130.29 million, a decrease from $126.16 million at the end of 2022 [52]. - Criticized and classified loans decreased to 1.68% of total portfolio loans as of June 30, 2023, down from 3.14% in the previous year, indicating improved risk ratings [151]. Capital and Regulatory Compliance - Shareholders' equity increased by $38.3 million or 1.6% to $2.5 billion at June 30, 2023, driven by net income of $87.2 million [205]. - Regulatory capital levels for Wesbanco were substantially above the minimum required to be considered "well capitalized" as of June 30, 2023 [207]. - Tier 1 capital to risk-weighted assets ratio was 12.12% for Wesbanco, compared to 12.33% at December 31, 2022 [209]. - Total capital to risk-weighted assets ratio was 14.83% for Wesbanco, down from 15.11% at December 31, 2022 [209]. Market and Economic Factors - Average deposits decreased by 6.1% over the same period due to interest rate and inflationary pressures [136]. - The company operates through 194 branches and 183 ATM machines across multiple states, significantly impacted by economic factors such as market interest rates and regional economic conditions [132]. - The effective tax rate for the first half of 2023 was 17.9%, down from 18.8% in the same period of 2022 [140].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39442 WESBANCO, INC. (Exact name of Registrant as specified in its charter) 1 Bank Plaza, Wheeling, WV 26003 (Address of principal ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39442 WESBANCO, INC. (Exact name of Registrant as specified in its charter) | | | (State or other jurisdiction of incorporation or organiz ...