Wesbanco Inc

Latest Results (10.10.2025):

WesBanco Inc reported strong financial performance for the third quarter of 2024, featuring significant deposit and loan growth. While net income saw a slight increase compared to the previous year, the company continues to demonstrate robust operational momentum and strategic advancements.

Net Income and Earnings per Share

For the third quarter of 2024, WesBanco Inc reported a net income of $34.7 million, translating to earnings per share of $0.54. This marks a slight increase in net income compared to $34.3 million and $0.58 per share in the third quarter of 2023.

Loan and Deposit Growth

The company achieved a total loan growth of 10.0% year-over-year and 6.3% annualized sequentially, with loans increasing by $1.1 billion over the past year. Deposits surged by 5.7% year-over-year and 12.1% annualized sequentially, reaching $13.8 billion.

Credit Quality

WesBanco maintained strong credit quality metrics, with total loans past due increasing slightly to 0.44% of the loan portfolio. Non-performing assets as a percentage of total assets remained low, and the provision for credit losses decreased to $4.8 million.

Non-Interest Income and Expenses

Non-interest income decreased by 4.1% year-over-year in the third quarter, primarily due to lower net swap fees and valuation income. Meanwhile, non-interest expenses rose by 2.0% year-over-year, driven by higher operating and technology costs.

Strategic Initiatives and Growth

WesBanco successfully raised $200 million in common equity during the quarter and is on track with the acquisition of Premier Financial Corp., pending regulatory and shareholder approvals. The company also achieved recognition as one of America's Greatest Workplaces for Parents and Families by Newsweek.

Balance Sheet and Funding

As of September 30, 2024, portfolio loans stood at $12.5 billion, while deposits reached $13.8 billion. Federal Home Loan Bank borrowings decreased by 20.3%, supported by strong deposit growth and equity fundraising efforts.