WesBanco(US:WSBC)2023-04-25 13:42Financial Performance - Pre-tax, pre-provision income reached $59 million, a 13.2% year-over-year increase[4] - Net income available to common shareholders was $42.3 million, or $0.71 per diluted share[4] - The efficiency ratio was 60.66%[4] - Return on average tangible equity was 13.48%[5] - Net interest margin was 3.36%, up 41 basis points year-over-year but down 13 basis points sequentially[5, 19] Loan Portfolio - Total loan growth was 11.9% year-over-year and 7.0% annualized quarter-over-quarter[4, 6] - The investment office loan portfolio totaled $465 million, comprising approximately 310 loans[9] - Commercial & Industrial loans represent 14% of the total loan portfolio[9] - Commercial Real Estate loans (including owner-occupied and other) constitute 53% of the total loan portfolio[9] Deposits and Securities - Total deposits amounted to $12.9 billion, a 2.0% decrease compared to the previous quarter[13, 14] - Uninsured deposits, after exclusions, represented 24.7% of total deposits[13] - Total securities were $3.717 billion[16] - Unrealized losses on securities (after-tax) were $234 million for Available-for-Sale (AFS) and $101 million for Held-to-Maturity (HTM)[16] Credit Quality - Non-performing assets to total assets ratio was 0.24%[4, 5] - Net loan charge-offs to average loans (annualized) was 0.07%[5] - Allowance for credit losses as a percentage of total loans was 1.09%[24, 25]