WesBanco Announces Third Quarter 2026 Financial Results

Marked by strong annualized loan growth, solid efficiency ratio, and accelerating growth in targeted expansion markets

Wheeling, WVa. (October 21, 2026) – WesBanco, Inc. (“WesBanco” or “Company”) (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three and nine months ended September 30, 2026. Net income available to common shareholders for the third quarter of 2026 was $85.3 million, or diluted earnings per share of $0.88, compared to $81.0 million, or diluted earnings per share of $0.84, respectively, for the third quarter of 2025. For the nine months ended September 30, 2026, net income was $258.1 million, or diluted earnings per share of $2.67, compared to $124.4 million, or diluted earnings per share of $1.39, for the comparable 2025 period.

As noted below, WesBanco reported adjusted diluted earnings per share of $0.89, in the third quarter, as compared to adjusted diluted earnings per share of $0.94 in the prior year period, when excluding after-tax restructuring and merger-related expenses (non-GAAP). On a similar basis and excluding the after-tax day one provision for credit losses on acquired loans, WesBanco reported adjusted diluted earnings per share of $2.72, for the nine-month period, as compared to adjusted diluted earnings per share of $2.55 for the comparable 2025 period (non-GAAP).

Financial and operational highlights for the quarter ended September 30, 2026:

“Our third quarter results reflect the continued strength of WesBanco’s disciplined growth strategy and relationship-focused banking model,” said Jeff Jackson, President and Chief Executive Officer. “Year-to-date adjusted diluted earnings per share increased nearly 7%, while we maintained solid positive operating leverage and generated strong organic loan growth that more than offset elevated commercial real estate payoffs. With strong momentum across our franchise and a robust commercial pipeline, we believe we are well positioned to build on that performance in the quarters ahead.”

Balance Sheet

WesBanco’s balance sheet, as of September 30, 2026, reflects organic growth and the impact of elevated CRE payoffs. Total assets increased 3.4% year-over-year to $28.5 billion, including total portfolio loans of $19.9 billion and total securities of $4.5 billion. Total portfolio loans increased 5.1% year-over-year due to organic growth of nearly $1 billion partially offset by higher CRE payoffs. CRE payoffs continued to remain at high levels, as expected, and totaled approximately $370 million during the third quarter of 2026, and nearly $1.5 billion through the last twelve months. The commercial loan pipeline has grown more than 50% since year-end to $1.8 billion, as of September 30, 2026.

Deposits of $21.6 billion increased 1.5% year-over-year due to organic growth that more than offset the decline in higher cost certificates of deposit (CDs). Excluding CDs, total deposits increased $752 million, or 4.1%, year-over-year and 2.2% annualized sequentially. Total demand deposits represented 50% of total deposits, with the non-interest bearing component representing 24% of total deposits.

Credit Quality

The third quarter net provision for credit losses of $8.7 million was primarily due to higher loan balances and the charge-off of one commercial credit that was previously fully reserved. Excluded from the allowance for credit losses and the related coverage ratio is the remaining unaccreted discount on purchased loans from acquisitions representing 1.31% of total portfolio loans. Criticized and classified loans, which include non-performing portfolio loans, decreased $93 million, or 55 basis points, from the sequential quarter to 3.19% of total portfolio loans. Non-performing assets, which included a $19.2 million loan held for sale, represented 0.62% of total assets, an increase of 9 basis points sequentially due to two commercial credits in different industries and markets and residential 1-4 family mortgages being moved to non-accrual. The allowance for credit losses to total portfolio loans at September 30, 2026 was 1.08% of total loans, or $214.6 million.

Net Interest Margin and Income

Net interest income for the third quarter of 2026 was $226.9 million, an increase of $10.2 million, or 4.7% year-over-year, driven by loan growth, upward loan repricing, and higher securities yields. For the nine months ended September 30, 2026, net interest income of $664.4 million increased $72.4 million, or 12.2%, primarily due to the reasons discussed for the three-month period comparison.

The third quarter net interest margin of 3.60% improved 7 basis points year-over-year primarily due to lower funding costs and was flat to the second quarter, when excluding the additional 3 basis points of accelerated accretion from an early payoff during the second quarter. Deposit funding costs of 239 basis points for the third quarter of 2026 decreased 17 basis points from the prior year period and were up 4 basis points from the second quarter. When including non-interest bearing deposits, deposit funding costs for the third quarter were 180 basis points.

Non-Interest Income

For the third quarter of 2026, non-interest income of $45.9 million increased $1.0 million, or 2.2%, from the third quarter of 2025 due primarily to higher net swap and valuation income, service charges on deposits, and trust fees. Gross swap fees were $2.8 million in the third quarter, compared to $3.2 million in the prior year period, while the fair value adjustment was $2.1 million, compared to a negligible gain in the prior year period. Service charges on deposits increased $1.1 million year-over-year due to an increase in monthly fees that took effect during June 2026, as well as increased general spending and higher transaction volumes. Trust fees of $9.7 million, increased $0.7 million year-over-year, due to higher assets under management. Mortgage banking income decreased $1.8 million from the prior year period due to more mortgage volume retained in the loan portfolio.

Primarily reflecting the items discussed above, as well as net securities brokerage revenue and other income, non-interest income, for the nine months ended September 30, 2026, increased $17.8 million, or 14.4%, year-over-year to $141.3 million. Reflecting strong asset levels, net securities brokerage revenue increased $1.4 million, due to the addition of PFC wealth clients, market value appreciation, and organic growth. Other income included a non-recurring $4.8 million retirement plan gain.

Non-Interest Expense

Non-interest expense, excluding restructuring and merger-related costs, for the three months ended September 30, 2026 was $150.1 million, a $5.3 million, or 3.7%, increase year-over-year primarily due to higher salaries and wages offset by discretionary expense management. Salaries and wages of $69.1 million increased due to hiring efforts in Florida and Nashville during the second quarter, and mid-year merit increases. Marketing expense increased $2.0 million in support of our new expansion markets. FDIC insurance expense of $4.6 million decreased due to a lower assessment rate associated with our improved financial ratios. Amortization of intangible assets of $7.1 million, which was consistent with the last two quarters, decreased $1.3 million year-over-year due to the core deposit intangible asset that was created from the acquisition of PFC in the prior year. Employee benefits decreased $3.2 million year-over-year to $14.9 million due primarily to lower healthcare claims and lower deferred compensation expense. Restructuring and merger-related expenses decreased $10.7 million from the prior year period, which included costs associated with the closing of the PFC acquisition.

Excluding restructuring and merger-related expenses, non-interest expense during the first nine months of 2026 of $441.2 million increased $37.0 million, or 9.1%, compared to the comparable prior year period, due primarily to the expenses described above, as well as our acquisition of Premier Financial only being in the prior year period beginning March 1, 2025.

Capital

WesBanco continues to maintain what we believe are strong regulatory capital ratios, as both consolidated and bank-level regulatory capital ratios are well above the applicable “well-capitalized” standards promulgated by bank regulators and the BASEL III capital standards. At September 30, 2026, Tier I leverage was 9.87%, Tier I risk-based capital ratio was 11.60%, common equity Tier 1 capital ratio (“CET 1”) was 10.61%, and total risk-based capital was 13.97%. In addition, the tangible common equity to tangible assets ratio was 8.15%.

Conference Call and Webcast

WesBanco will host a conference call to discuss the Company's financial results for the third quarter of 2026 at 3:00 p.m. ET on Thursday, October 22, 2026. Interested parties can access the live webcast of the conference call through the Investor Relations section of the Company's website, www.wesbanco.com. Participants can also listen to the conference call by dialing 888-347-6607, or 1-412-902-4290 for international callers, and asking to be joined into the WesBanco call. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection.

A replay of the conference call will be available by dialing 855-669-9658, or 1-412-317-0088 for international callers, and providing the access code of 9592854. Access to the replay will begin at approximately 5:00 p.m. ET on October 22, 2026, and end at 12 a.m. ET on November 5, 2026. An archive of the webcast will be available for one year on the Investor Relations section of the Company’s website (www.wesbanco.com).

Forward-Looking Statements

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, 2025 and documents subsequently filed by WesBanco with the Securities and Exchange Commission (“SEC”) including WesBanco’s Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026, which are available at the SEC’s website, www.sec.gov or at WesBanco’s website, www.WesBanco.com. Investors are cautioned that forward-looking statements, which are not historical fact, involve risks and uncertainties, including those detailed in WesBanco’s most recent Annual Report on Form 10-K under “Risk Factors” in Part I, Item 1A and in our other reports filed with the SEC. Such statements are subject to important factors that could cause actual results to differ materially from those contemplated by such statements, including, without limitation, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and associated interest rate sensitivity; sources of liquidity available to WesBanco and its related subsidiary operations; potential future credit losses and the credit risk of commercial, real estate, and consumer loan customers and their borrowing activities; actions of the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, the SEC, the Financial Institution Regulatory Authority, the Municipal Securities Rulemaking Board, the Securities Investors Protection Corporation, and other regulatory bodies; potential legislative and federal and state regulatory actions and reform, including, without limitation, the impact of the implementation of the Dodd-Frank Act; adverse decisions of federal and state courts; fraud, scams and schemes of third parties; cyber-security breaches; competitive conditions in the financial services industry; rapidly changing technology affecting financial services; marketability of debt instruments and corresponding impact on fair value adjustments; and/or other external developments materially impacting WesBanco’s operational and financial performance. WesBanco does not assume any duty to update forward-looking statements.

While forward-looking statements reflect our good-faith beliefs, they are not guarantees of future performance. All forward-looking statements are necessarily only estimates of future results. Accordingly, actual results may differ materially from those expressed in or contemplated by the particular forward-looking statement, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

Non-GAAP Financial Measures

In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), WesBanco's management uses, and this presentation contains or references, certain non-GAAP financial measures. WesBanco believes these financial measures provide information useful to investors in understanding our operational performance and business and performance trends which facilitate comparisons with the performance of others in the financial services industry. Although WesBanco believes that these non-GAAP financial measures enhance investors'

understanding of WesBanco's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. The non-GAAP financial measures contained therein should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the Quarterly Reports on Forms 10-Q for WesBanco and its subsidiaries, as well as other filings that the company has made with the SEC. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables at the end of this release.

About WesBanco, Inc.

With over 150 years as a community-focused, regional financial services partner, WesBanco Inc. (Nasdaq: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our ten-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in Wheeling, West Virginia, WesBanco has $28.5 billion in total assets, with our Trust and Investment Services holding $8.1 billion of assets under management and securities account values (including annuities) of $2.5 billion through our broker/dealer, as of September 30, 2026. Learn more at www.wesbanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram.

SOURCE: WesBanco, Inc.

WesBanco Company Contact:

John H. Iannone

Senior Vice President, Investor Relations

304-905-7021

###