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 ...