Wesbanco Announces Pricing of $230 Million Offering of Depositary Shares Representing Interests in Preferred Stock

Core Viewpoint - Wesbanco, Inc. has announced a public offering of 9,200,000 depositary shares representing a 1/40 interest in a share of 7.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with a liquidation preference of $1,000 per share [1][2] Summary by Sections Offering Details - The depositary shares will accrue dividends at a rate of 7.375% per annum from September 17, 2025, to October 1, 2030, payable quarterly [2] - After October 1, 2030, the dividend rate will reset to the five-year treasury rate plus 3.795% [2] - Wesbanco may redeem the Series B Preferred Stock at a price of $1,000 per share on any dividend payment date after October 1, 2030 [2] Use of Proceeds - Approximately $150 million of the net proceeds will be used to redeem the outstanding 6.75% Series A Preferred Stock [3] - Approximately $50 million will be allocated to redeem the 4.0% Fixed-To-Floating Rate Subordinated Notes due September 30, 2030 [3] - Remaining proceeds will support general corporate purposes, including debt repayment, capital expenditures, and potential acquisitions [3] Company Background - Wesbanco has over 150 years of experience as a community-focused financial services provider [6] - The company has total assets of $27.6 billion, with $7.2 billion in Trust and Investment Services assets under management as of June 30, 2025 [7]