| Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis |
The fair value amounts presented in the tables below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The following tables set forth Wesbanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2026 and December 31, 2025: Table 24: Recurring and Nonrecurring Fair Value Measurements
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September 30, 2026 |
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Fair Value Measurements Using: |
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September 30, |
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|
Quoted Prices in
Active Markets
for Identical
Assets |
|
|
Significant
Other
Observable
Inputs |
|
|
Significant
Unobservable
Inputs |
|
(unaudited, in thousands) |
|
2026 |
|
|
(level 1) |
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|
(level 2) |
|
|
(level 3) |
|
Recurring fair value measurements |
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|
|
|
|
|
|
|
|
|
|
Equity securities |
|
$ |
18,303 |
|
|
$ |
18,303 |
|
|
$ |
— |
|
|
$ |
— |
|
Available-for-sale debt securities |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury |
|
|
196,710 |
|
|
|
196,710 |
|
|
|
— |
|
|
|
— |
|
U.S. Government sponsored entities and agencies |
|
|
197,728 |
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|
|
— |
|
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|
197,728 |
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|
|
— |
|
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies |
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|
2,729,247 |
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|
|
— |
|
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2,729,247 |
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|
|
— |
|
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies |
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52,650 |
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|
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— |
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52,650 |
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|
|
— |
|
Asset backed securities |
|
|
63,601 |
|
|
|
— |
|
|
|
63,601 |
|
|
|
— |
|
Obligations of states and political subdivisions |
|
|
74,077 |
|
|
|
— |
|
|
|
71,971 |
|
|
|
2,106 |
|
Corporate debt securities |
|
|
39,679 |
|
|
|
— |
|
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|
39,679 |
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|
|
— |
|
Total available-for-sale debt securities |
|
$ |
3,353,692 |
|
|
$ |
196,710 |
|
|
$ |
3,154,876 |
|
|
$ |
2,106 |
|
Loans held for sale (1) |
|
|
37,545 |
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|
|
— |
|
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|
37,545 |
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|
|
— |
|
Other assets—interest rate derivatives agreements |
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|
99,078 |
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|
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— |
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|
99,078 |
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|
|
— |
|
Total assets recurring fair value measurements |
|
$ |
3,508,618 |
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|
$ |
215,013 |
|
|
$ |
3,291,499 |
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|
$ |
2,106 |
|
Other liabilities—interest rate derivatives agreements |
|
$ |
97,876 |
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|
$ |
— |
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|
$ |
97,876 |
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|
$ |
— |
|
Total liabilities recurring fair value measurements |
|
$ |
97,876 |
|
|
$ |
— |
|
|
$ |
97,876 |
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|
$ |
— |
|
Nonrecurring fair value measurements |
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|
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Collateral dependent loans |
|
$ |
27,643 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
27,643 |
|
Other real estate owned and repossessed assets |
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|
1,784 |
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|
|
— |
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|
|
— |
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|
1,784 |
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Total nonrecurring fair value measurements |
|
$ |
29,427 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
29,427 |
|
(1) At September 30, 2026, loans HFS included one commercial loan, which is carried at its amortized cost of $19.2 million. Because it is carried at its amortized cost rather than its fair value, it is not included in the table above.
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December 31, 2025 |
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Fair Value Measurements Using: |
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|
December 31, |
|
|
Quoted Prices in
Active Markets
for Identical
Assets |
|
|
Significant
Other
Observable
Inputs |
|
|
Significant
Unobservable
Inputs |
|
(in thousands) |
|
2025 |
|
|
(level 1) |
|
|
(level 2) |
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|
(level 3) |
|
Recurring fair value measurements |
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Equity securities |
|
$ |
30,809 |
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|
$ |
30,809 |
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|
$ |
— |
|
|
$ |
— |
|
Available-for-sale debt securities: |
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|
|
|
|
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|
|
U.S. Treasury |
|
|
196,857 |
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|
196,857 |
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|
|
— |
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|
— |
|
U.S. Government sponsored entities and agencies |
|
|
222,997 |
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|
— |
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|
222,997 |
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|
|
— |
|
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies |
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|
2,610,448 |
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|
— |
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|
2,610,448 |
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|
|
— |
|
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies |
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|
63,615 |
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|
— |
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|
63,615 |
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|
|
— |
|
Asset backed securities |
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|
68,935 |
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|
— |
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|
68,935 |
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|
|
— |
|
Obligations of state and political subdivisions |
|
|
73,188 |
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|
|
— |
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|
70,903 |
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|
2,285 |
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Corporate debt securities |
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|
52,292 |
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|
|
— |
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|
52,292 |
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|
— |
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Total available-for-sale debt securities |
|
$ |
3,288,332 |
|
|
$ |
196,857 |
|
|
$ |
3,089,190 |
|
|
$ |
2,285 |
|
Loans held for sale |
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|
87,454 |
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|
|
— |
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|
87,454 |
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|
|
— |
|
Other assets—interest rate derivatives agreements |
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|
63,144 |
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|
— |
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|
63,144 |
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|
|
— |
|
Total assets recurring fair value measurements |
|
$ |
3,469,739 |
|
|
$ |
227,666 |
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|
$ |
3,239,788 |
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|
$ |
2,285 |
|
Other liabilities—interest rate derivatives agreements |
|
$ |
64,181 |
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|
$ |
— |
|
|
$ |
64,181 |
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|
$ |
— |
|
Total liabilities recurring fair value measurements |
|
$ |
64,181 |
|
|
$ |
— |
|
|
$ |
64,181 |
|
|
$ |
— |
|
Nonrecurring fair value measurements |
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Collateral dependent loans |
|
$ |
20,400 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
20,400 |
|
Other real estate owned and repossessed assets |
|
|
907 |
|
|
|
— |
|
|
|
— |
|
|
|
907 |
|
Total nonrecurring fair value measurements |
|
$ |
21,307 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
21,307 |
|
|
| Schedule of Assets Measured at Fair Value on Nonrecurring Basis |
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Wesbanco has utilized level 3 inputs to determine fair value: Table 25: Quantitative Information about Level 3 Fair Value Measurements
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Quantitative Information about Level 3 Fair Value Measurements |
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Fair Value |
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Valuation |
|
Unobservable |
|
Range (Weighted |
(unaudited, in thousands) |
|
Estimate |
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|
Techniques |
|
Input |
|
Average) |
September 30, 2026 |
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|
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|
Collateral dependent loans |
|
$ |
27,643 |
|
|
Appraisal of collateral (1) |
|
Appraisal adjustments (2) |
|
0.0%-(27.8%)/(5.2%) |
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|
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|
Liquidation expenses (2) |
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(3.6%)-(10.5%)/(9.8%) |
Other real estate owned and repossessed assets |
|
$ |
1,784 |
|
|
Appraisal of collateral (1), (3) |
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December 31, 2025 |
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|
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Collateral dependent loans |
|
$ |
20,400 |
|
|
Appraisal of collateral (1) |
|
Appraisal adjustments (2) |
|
0.0%-(20.8%)/(7.3%) |
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Liquidation expenses (2) |
|
(8.2%)-(10.5%)/(9.7%) |
Other real estate owned and repossessed assets |
|
$ |
907 |
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|
Appraisal of collateral (1), (3) |
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(1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs that are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expense are presented as a percent of the appraisal. (3) Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management, which are not identifiable.
|
| Estimates Fair Values of Financial Instruments |
The following tables present the carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of other financial instruments on the Consolidated Balance Sheet: Table 26: Fair Value of Other Financial Instruments
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Fair Value Measurements at |
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September 30, 2026 |
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|
Carrying |
|
|
Fair Value |
|
|
Quoted Prices in
Active Markets
for Identical
Assets |
|
|
Significant
Other
Observable
Inputs |
|
|
Significant
Unobservable
Inputs |
|
(unaudited, in thousands) |
|
Amount |
|
|
Estimate |
|
|
(level 1) |
|
|
(level 2) |
|
|
(level 3) |
|
Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Cash and due from banks |
|
$ |
978,860 |
|
|
$ |
978,860 |
|
|
$ |
978,860 |
|
|
$ |
— |
|
|
$ |
— |
|
Net held-to-maturity debt securities |
|
|
1,093,970 |
|
|
|
924,203 |
|
|
|
— |
|
|
|
924,101 |
|
|
|
102 |
|
Net loans |
|
|
19,685,993 |
|
|
|
19,332,186 |
|
|
|
— |
|
|
|
— |
|
|
|
19,332,186 |
|
Loans held for sale (1) |
|
|
19,162 |
|
|
|
20,440 |
|
|
|
— |
|
|
|
— |
|
|
|
20,440 |
|
Accrued interest receivable |
|
|
106,182 |
|
|
|
106,182 |
|
|
|
106,182 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
21,612,503 |
|
|
|
21,593,040 |
|
|
|
19,105,584 |
|
|
|
2,487,456 |
|
|
|
— |
|
Federal Home Loan Bank borrowings |
|
|
1,950,000 |
|
|
|
1,942,923 |
|
|
|
— |
|
|
|
1,942,923 |
|
|
|
— |
|
Other borrowings |
|
|
113,800 |
|
|
|
104,171 |
|
|
|
104,171 |
|
|
|
— |
|
|
|
— |
|
Subordinated debt and junior subordinated debt |
|
|
308,991 |
|
|
|
301,104 |
|
|
|
— |
|
|
|
301,104 |
|
|
|
— |
|
Accrued interest payable |
|
|
21,363 |
|
|
|
21,363 |
|
|
|
21,363 |
|
|
|
— |
|
|
|
— |
|
(1) This line represents one commercial loan HFS on the balance sheet at its amortized cost of $19.2 million. This loan is not included in the $37.5 million of loans HFS detailed in Table 24.
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Fair Value Measurements at |
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|
|
|
|
|
|
December 31, 2025 |
|
|
|
Carrying |
|
|
Fair Value |
|
|
Quoted Prices in
Active Markets
for Identical
Assets |
|
|
Significant
Other
Observable
Inputs |
|
|
Significant
Unobservable
Inputs |
|
(in thousands) |
|
Amount |
|
|
Estimate |
|
|
(level 1) |
|
|
(level 2) |
|
|
(level 3) |
|
Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
956,109 |
|
|
$ |
956,109 |
|
|
$ |
956,109 |
|
|
$ |
— |
|
|
$ |
— |
|
Net held-to-maturity debt securities |
|
|
1,131,946 |
|
|
|
1,035,957 |
|
|
|
— |
|
|
|
1,035,821 |
|
|
|
136 |
|
Net loans |
|
|
19,007,683 |
|
|
|
18,563,341 |
|
|
|
— |
|
|
|
— |
|
|
|
18,563,341 |
|
Accrued interest receivable |
|
|
106,651 |
|
|
|
106,651 |
|
|
|
106,651 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
21,668,840 |
|
|
|
21,657,121 |
|
|
|
18,793,468 |
|
|
|
2,863,653 |
|
|
|
— |
|
Federal Home Loan Bank borrowings |
|
|
1,200,000 |
|
|
|
1,200,761 |
|
|
|
— |
|
|
|
1,200,761 |
|
|
|
— |
|
Other borrowings |
|
|
110,679 |
|
|
|
105,240 |
|
|
|
105,240 |
|
|
|
— |
|
|
|
— |
|
Subordinated debt and junior subordinated debt |
|
|
308,529 |
|
|
|
298,974 |
|
|
|
— |
|
|
|
298,974 |
|
|
|
— |
|
Accrued interest payable |
|
|
19,150 |
|
|
|
19,150 |
|
|
|
19,150 |
|
|
|
— |
|
|
|
— |
|
|