WesBanco Announces Third Quarter 2025 Financial Results

Core Insights - WesBanco, Inc. reported a significant increase in net income for Q3 2025, reaching $81.0 million, compared to $34.7 million in Q3 2024, with diluted earnings per share rising to $0.84 from $0.54 [1][2][4] Financial Performance - For the nine months ended September 30, 2025, net income was $124.4 million, or $1.39 per diluted share, reflecting a day one provision for credit losses and expenses related to the acquisition of Premier Financial Corp. [1][2] - Excluding restructuring and merger-related expenses, adjusted earnings per diluted share for Q3 2025 was $0.94, up from $0.56 in the prior year [2][4] - Total deposits increased by 53.8% year-over-year to $21.3 billion, driven by $6.9 billion from the PFC acquisition and organic growth of 4.1% [5][7] - Total loans rose by 52.0% year-over-year to $18.9 billion, with organic growth of 4.8% and $5.9 billion from PFC [5][6] Operational Highlights - The net interest margin improved to 3.53%, an increase of 58 basis points year-over-year, attributed to higher earning asset yields and lower funding costs [5][10] - Non-interest income for Q3 2025 was $44.9 million, a 51.5% increase from the previous year, primarily due to the PFC acquisition [12][13] - The efficiency ratio improved to 55.1%, reflecting expense synergies from the PFC acquisition and a focus on cost management [5][14] Strategic Initiatives - The company is optimizing its financial center network, planning to close 27 locations, which is expected to yield approximately $6 million in pre-tax savings [4][5] - WesBanco's balance sheet as of September 30, 2025, showed total assets of $27.5 billion, a 48.6% increase year-over-year, including total portfolio loans of $18.9 billion [6][24] Credit Quality - Criticized and classified loans as a percentage of total portfolio loans decreased to 3.22%, indicating stable credit quality metrics [5][8] - The allowance for credit losses was 1.15% of total loans, amounting to $217.7 million, reflecting a decrease from the previous quarter [9][10] Capital Position - WesBanco maintains strong regulatory capital ratios, with a Tier I risk-based capital ratio of 11.83% and a common equity Tier 1 capital ratio of 10.1% as of September 30, 2025 [16][24]