WesBanco Announces Fourth Quarter 2025 Financial Results

Core Viewpoint WesBanco, Inc. reported strong financial performance for the fourth quarter and the full year of 2025, driven by solid loan and deposit growth, improved net interest margins, and successful integration of the Premier Financial Corp. acquisition. Financial Performance - Net income for Q4 2025 was $78.2 million, or $0.81 per diluted share, compared to $47.1 million and $0.70 per diluted share in Q4 2024 [1] - For the full year 2025, net income was $202.6 million, or $2.23 per diluted share, reflecting a day one provision for credit losses and expenses related to the PFC acquisition [1] - Adjusted earnings per diluted share for Q4 2025, excluding restructuring and merger-related expenses, was $0.84, up from $0.71 in the prior year [2] Loan and Deposit Growth - Total deposits increased 53.3% year-over-year to $21.7 billion, with $6.9 billion from PFC and organic growth of 4.7% [4] - Total loans increased 51.9% year-over-year to $19.2 billion, driven by organic growth of 5.2% and $5.9 billion from PFC [4] - The company experienced a 6.2% annualized increase in total loans from Q3 2025, despite $415 million in commercial real estate payoffs during the quarter [4] Net Interest Margin and Income - The net interest margin improved to 3.61%, an increase of 58 basis points year-over-year, due to higher earning asset yields and lower funding costs [4][10] - Net interest income for Q4 2025 was $222.3 million, a 75.7% increase year-over-year, attributed to the PFC acquisition and loan growth [11] Non-Interest Income - Non-interest income for Q4 2025 was $43.3 million, an 18.9% increase from the previous year, primarily due to the PFC acquisition [12] - Trust fees and service charges on deposits increased significantly, reflecting the addition of PFC clients and higher consumer spending [12] Non-Interest Expense - Non-interest expense for Q4 2025, excluding restructuring and merger-related costs, was $144.4 million, a 43.7% increase year-over-year, mainly due to the PFC expense base [14] - The efficiency ratio improved to 51.6%, benefiting from expense synergies from the PFC acquisition and a focus on cost control [4][5] Balance Sheet Strength - Total assets increased 48.2% year-over-year to $27.7 billion, reflecting both the PFC acquisition and organic growth [6] - The allowance for credit losses was 1.14% of total portfolio loans, amounting to $218.7 million [9] Capital Ratios - WesBanco maintained strong regulatory capital ratios, with a Tier I leverage ratio of 9.42% and a total risk-based capital ratio of 13.88% as of December 31, 2025 [17]