Financial Data and Key Metrics Changes - Full year pre-tax, pre-provision earnings growth of 105% year-over-year, with earnings per share increasing 45% to $3.40 when excluding merger-related charges [3][4] - Fourth quarter net income available to common shareholders of $81 million, with diluted earnings per share of $0.84, an 18% increase year-over-year [4][11] - Return on tangible common equity for the fourth quarter was 16%, with non-performing assets to total assets at 0.33% [6][15] Business Line Data and Key Metrics Changes - Total portfolio loans increased 52% year-over-year to $19.2 billion, driven by both acquired loans and organic growth [13] - Treasury management revenue reached a record of $6 million, with total wealth management assets under management at $10.4 billion [7][10] - Non-interest income for the fourth quarter was $43.3 million, a 19% increase year-over-year, primarily due to the acquisition of Premier [16] Market Data and Key Metrics Changes - Total deposits increased 53% year-over-year to $21.7 billion, with organic growth of $662 million fully funding loan growth [14] - Commercial real estate project payoffs totaled $415 million in the fourth quarter and over $900 million for the year, exceeding previous expectations [8][13] - The commercial loan pipeline stood at over $1.2 billion, with more than 40% tied to new markets and loan production offices [9] Company Strategy and Development Direction - The company successfully integrated Premier Financial, transforming into a $28 billion asset regional financial services partner, ranking among the top 50 publicly traded U.S. financial institutions [6] - Continued investment in organic growth through new loan production offices and a new healthcare vertical, optimizing financial center networks and digital banking capabilities [7][10] - Focus on relationship banking as a differentiator, with plans to expand into new markets such as Richmond and Atlanta [10][37] Management's Comments on Operating Environment and Future Outlook - Management anticipates mid-single-digit year-over-year loan growth during 2026, despite expected elevated commercial real estate payoffs [9][34] - The company expects net interest margin to remain consistent with the fourth quarter margin of 3.61% in the first quarter, with gradual increases anticipated throughout the year [21][49] - Management remains committed to disciplined expense management to drive positive operating leverage and shareholder value [22][60] Other Important Information - The efficiency ratio for the fourth quarter was just below 52%, reflecting updated calculation methodologies [18] - The company redeemed $150 million of Series A Preferred Stock and $50 million of subdebt acquired for Premier during the fourth quarter [19] - Anticipated effective tax rate for the full year is between 20.5% and 21.5%, slightly higher than 2025 [25] Q&A Session Summary Question: Loan growth expectations and payoffs - Management expects a step down in payoffs from the elevated fourth quarter number, estimating $600 million to $800 million in 2026, weighted towards the first half [31][32] Question: Details on the healthcare vertical - The healthcare vertical generated around $500 million in new loans last year and is expected to be a significant growth engine moving forward [35][36] Question: Expense guidance and branch evaluations - Management confirmed that branch closures are not reflected in current expense guidance, and evaluations of the branch network will continue [44][45] Question: Margin outlook and factors influencing it - Management discussed the extraordinary deposit growth in the fourth quarter and its impact on margin, with expectations for continued improvement in the second quarter [46][49] Question: Fee initiatives and treasury management growth - Treasury management fees have seen significant growth, with expectations for continued double-digit growth this year [98][100]

Financial Data and Key Metrics Changes - Earnings per share (EPS) for the second quarter was $0.91, excluding merger-related charges, representing an 86% increase year over year [5][14] - Net interest margin improved to 3.59%, a 64 basis point increase year over year [6][17] - Net income excluding merger and restructuring expenses was $87.3 million, compared to $29.4 million in the prior year [5][14] - Total assets increased by 52% year over year to $27.6 billion, driven by the Premier acquisition and organic growth [15] Business Line Data and Key Metrics Changes - Fee income grew by 40% year over year, totaling $44 million in the second quarter [8][18] - Organic loan growth was 6% year over year, with total commercial loans increasing by 7% [10][14] - The trust and securities brokerage business grew to $10 billion in assets under management [8] Market Data and Key Metrics Changes - Total deposits increased by 58% year over year to $21.2 billion, with organic growth of $849 million [17] - Organic deposit growth excluding certificates of deposit was more than 5% year over year [9] Company Strategy and Development Direction - The company aims to grow fee income as a percentage of total revenue and expand its presence in new markets, including Knoxville and Northern Virginia [9][11] - Strategic investments are being made in the healthcare sector to meet unique client needs [11][32] - The focus remains on executing the Premier acquisition and enhancing operational efficiency [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about loan growth despite potential headwinds from commercial real estate payoffs [71] - The company anticipates mid to upper single-digit loan growth for the remainder of 2025 [37][39] - Management expects to fund loan growth with deposit growth for the full year [9][17] Other Important Information - The efficiency ratio improved by 10 percentage points year over year to 55.5% [6] - The company has begun to see a rebound in deposits in July after a seasonal decline [17] - Regulatory capital ratios remain above well-capitalized standards [19] Q&A Session Summary Question: Increase in criticized loans and maintaining credit culture - Management noted that the increase in criticized loans is primarily due to regrading of acquired clients, but they expect improvements in the third quarter [28][30] Question: Capital deployment priorities - The company prioritizes dividends and organic growth, with M&A and buybacks being lower on the list [31][33] Question: Loan growth expectations - Management targets mid to upper single-digit growth, contingent on commercial real estate payoffs [37][39] Question: Branch rationalization - The company will evaluate branch profitability and may close some branches in the second half of the year [40][41] Question: Margin accretion assumptions - Management anticipates a drop in margin accretion in the third quarter but expects a rebound in the fourth quarter [46][63] Question: Deposit pipelines and growth - The company plans to launch a new deposit campaign and expects robust growth in the commercial space [78][80] Question: Preferred stock and subordinated debt refinancing - Management is evaluating options for calling preferred stock and refinancing subordinated debt that will reset soon [90][91]

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.91 when excluding merger-related charges, an increase of 86% year over year [5][13] - Net interest margin improved to 3.59%, reflecting a 64 basis point increase year over year [6][16] - Net income excluding merger and restructuring expenses was $87.3 million, compared to $29.4 million in the prior year period, representing a nearly 200% increase [13][14] Business Line Data and Key Metrics Changes - Fee income grew by 40% year over year, totaling $44 million in the second quarter [6][17] - Total portfolio loans increased by 53.6% year over year, with $5.9 billion from the Premier acquisition and $670 million from organic growth [14] - Organic loan growth was 6% year over year, with total commercial loans increasing by 7% year over year [9][14] Market Data and Key Metrics Changes - Total deposits increased by 58% year over year to $21.2 billion, driven by Premier deposits and organic growth [16] - Organic deposit growth excluding certificates of deposit was more than 5% year over year [8] - The commercial loan pipeline as of June 30 was approximately $1.3 billion, with roughly 30% attributable to new markets [9] Company Strategy and Development Direction - The company aims to grow fee income as a percentage of total revenue and expand its presence in new markets, including healthcare and commercial lending [8][11] - Strategic investments are being made in new loan production offices in Knoxville and Northern Virginia to enhance growth potential [11][81] - The focus remains on executing the Premier acquisition and leveraging new treasury management products to drive growth [32][93] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future loan growth, citing strong pipelines and a commitment to maintaining credit quality [15][70] - The company anticipates mid to upper single-digit loan growth for the remainder of 2025, despite potential headwinds from commercial real estate payoffs [37][70] - Management expects to fund loan growth with deposit growth for the full year, despite a seasonal decline in deposits [8][16] Other Important Information - The company successfully converted customer data systems from Premier, enhancing operational efficiency [6][7] - The efficiency ratio improved by 10 percentage points year over year to 55.5% [6] - Regulatory capital ratios remain above well-capitalized standards, with Tier one leverage at 8.7% [19] Q&A Session Summary Question: Increase in criticized loans and maintaining credit culture - Management noted that the increase in criticized loans is primarily due to regrading of acquired clients, but they expect improvements in the second half of the year [28][30] Question: Capital deployment priorities - The company prioritizes dividends and organic growth, with M&A and buybacks being lower on the list [31][32] Question: Loan growth expectations - Management targets mid to upper single-digit growth, contingent on commercial real estate payoffs [37][70] Question: Branch rationalization - The company will evaluate branch profitability and may close some branches in the second half of the year [40][41] Question: Margin accretion assumptions - Management anticipates a drop in margin accretion in the third quarter but expects a rebound in the fourth quarter [47][60] Question: Integration of Premier - The focus is on driving growth and ensuring new employees are familiar with company processes following the successful systems conversion [49][50] Question: Deposit pipelines and growth - The company plans to launch a new deposit campaign and expects robust growth in the commercial space [78][79] Question: Preferred stock and sub debt refinancing - Management is evaluating options for calling preferred stock and refinancing sub debt that will reset soon [87][88]

29 April 2025 Forward-looking statements in this report relating to WesBanco's plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The information contained in this report should be read in conjunction with WesBanco's Form 10-K for the year ended December 31, 2024 and documents subsequently filed by WesBanco with the Securities and Exchange Commission ("SEC"), which are ava ...