| Schedule of Financial Information to Wesbanco's Business Segment |
Table 31: Business Segment Results
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Community Banking |
|
|
Trust and Investment |
|
|
Corporate Other |
|
|
Total |
|
(unaudited, in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
For the Three Months Ended September 30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend income |
|
$ |
344,548 |
|
|
$ |
342,886 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
Less: Interest expense (1) |
|
|
112,100 |
|
|
|
118,756 |
|
|
|
1,598 |
|
|
|
2,078 |
|
|
|
3,973 |
|
|
|
5,336 |
|
|
|
|
|
|
|
Net interest income |
|
|
232,448 |
|
|
|
224,130 |
|
|
|
(1,598 |
) |
|
|
(2,078 |
) |
|
|
(3,973 |
) |
|
|
(5,336 |
) |
|
|
|
|
|
|
Less: Provision for credit losses |
|
|
8,661 |
|
|
|
2,082 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net interest income after provision for credit losses |
|
|
223,787 |
|
|
|
222,048 |
|
|
|
(1,598 |
) |
|
|
(2,078 |
) |
|
|
(3,973 |
) |
|
|
(5,336 |
) |
|
|
|
|
|
|
Non-interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust fees |
|
|
— |
|
|
|
— |
|
|
|
7,411 |
|
|
|
6,955 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
WesMark fees |
|
|
— |
|
|
|
— |
|
|
|
2,255 |
|
|
|
2,032 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Service charges on deposits |
|
|
12,263 |
|
|
|
11,163 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Digital banking income |
|
|
7,476 |
|
|
|
7,324 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net swap fee and valuation income |
|
|
4,857 |
|
|
|
3,231 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net securities brokerage revenue |
|
|
3,267 |
|
|
|
2,961 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net insurance services revenue |
|
|
874 |
|
|
|
929 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Bank-owned life insurance |
|
|
4,311 |
|
|
|
3,765 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Payment processing fees |
|
|
889 |
|
|
|
843 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net securities (losses) gains |
|
|
(151 |
) |
|
|
1,210 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net gain on OREO and other assets |
|
|
194 |
|
|
|
329 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Mortgage banking income |
|
|
123 |
|
|
|
1,898 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Other income |
|
|
2,097 |
|
|
|
1,929 |
|
|
|
— |
|
|
|
284 |
|
|
|
— |
|
|
|
11 |
|
|
|
|
|
|
|
Total revenues |
|
$ |
259,987 |
|
|
$ |
257,630 |
|
|
$ |
8,068 |
|
|
$ |
7,193 |
|
|
$ |
(3,973 |
) |
|
$ |
(5,325 |
) |
|
$ |
264,082 |
|
|
$ |
259,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less (2): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and wages |
|
|
66,761 |
|
|
|
58,361 |
|
|
|
2,318 |
|
|
|
2,222 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Employee benefits |
|
|
14,326 |
|
|
|
17,553 |
|
|
|
527 |
|
|
|
487 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net occupancy (3) |
|
|
7,858 |
|
|
|
8,747 |
|
|
|
69 |
|
|
|
72 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Equipment and software (4) |
|
|
15,100 |
|
|
|
16,290 |
|
|
|
513 |
|
|
|
20 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Miscellaneous taxes |
|
|
4,997 |
|
|
|
4,933 |
|
|
|
2 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Professional services |
|
|
4,628 |
|
|
|
4,463 |
|
|
|
248 |
|
|
|
223 |
|
|
|
2,479 |
|
|
|
2,116 |
|
|
|
|
|
|
|
Marketing |
|
|
4,939 |
|
|
|
2,970 |
|
|
|
26 |
|
|
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
FDIC insurance |
|
|
4,631 |
|
|
|
5,820 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Supplies |
|
|
2,031 |
|
|
|
2,403 |
|
|
|
52 |
|
|
|
41 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Telecommunications |
|
|
1,046 |
|
|
|
1,533 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
General administration |
|
|
2,328 |
|
|
|
2,543 |
|
|
|
55 |
|
|
|
46 |
|
|
|
490 |
|
|
|
348 |
|
|
|
|
|
|
|
Merger-related and restructuring |
|
|
730 |
|
|
|
11,395 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(12 |
) |
|
|
|
|
|
|
Amortization of intangibles |
|
|
6,826 |
|
|
|
8,385 |
|
|
|
296 |
|
|
|
40 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Corporate overhead expenses (5) |
|
|
— |
|
|
|
— |
|
|
|
1,821 |
|
|
|
1,747 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Other segment items (6) |
|
|
5,686 |
|
|
|
3,240 |
|
|
|
124 |
|
|
|
183 |
|
|
|
(40 |
) |
|
|
9 |
|
|
|
|
|
|
|
Segment profit (loss) before provision for income taxes |
|
|
118,100 |
|
|
|
108,994 |
|
|
|
2,017 |
|
|
|
2,102 |
|
|
|
(6,902 |
) |
|
|
(7,786 |
) |
|
|
|
|
|
|
Provision for income taxes |
|
|
24,919 |
|
|
|
20,979 |
|
|
|
423 |
|
|
|
441 |
|
|
|
(1,632 |
) |
|
|
(1,683 |
) |
|
|
|
|
|
|
Segment profit (loss) |
|
$ |
93,181 |
|
|
$ |
88,015 |
|
|
$ |
1,594 |
|
|
$ |
1,661 |
|
|
$ |
(5,270 |
) |
|
$ |
(6,103 |
) |
|
$ |
89,505 |
|
|
$ |
83,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of segment profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock dividends |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,240 |
) |
|
|
(2,531 |
) |
Net income available to common shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
85,265 |
|
|
$ |
81,042 |
|
(1) Within Corporate Other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (3) Includes depreciation and amortization expense of $2.2 million for the community banking segment for both the three months ended September 30, 2026 and 2025. Such expenses for the trust and investment services segment were immaterial. (4) Includes depreciation and amortization expense of $2.9 million and $3.0 million for the community banking segment for the three months ended September 30, 2026 and 2025, respectively. Such expenses for the trust and investment services segment were immaterial. (5) Consist of audit and accounting services, human resources, bank administration and information technology expenses. (6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses. (Business Segment Results, continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Community Banking |
|
|
Trust and Investment |
|
|
Corporate Other |
|
|
Total |
|
(unaudited, in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
For the Nine Months Ended September 30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend income |
|
$ |
1,003,222 |
|
|
$ |
932,500 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
Less: Interest expense (1) |
|
|
321,565 |
|
|
|
321,210 |
|
|
|
5,067 |
|
|
|
4,512 |
|
|
|
12,151 |
|
|
|
14,774 |
|
|
|
|
|
|
|
Net interest income |
|
|
681,657 |
|
|
|
611,290 |
|
|
|
(5,067 |
) |
|
|
(4,512 |
) |
|
|
(12,151 |
) |
|
|
(14,774 |
) |
|
|
|
|
|
|
Less: Provision for credit losses |
|
|
16,949 |
|
|
|
74,183 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net interest income after provision for credit losses |
|
|
664,708 |
|
|
|
537,107 |
|
|
|
(5,067 |
) |
|
|
(4,512 |
) |
|
|
(12,151 |
) |
|
|
(14,774 |
) |
|
|
|
|
|
|
Non-interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trust fees |
|
|
— |
|
|
|
— |
|
|
|
23,390 |
|
|
|
21,327 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
WesMark fees |
|
|
— |
|
|
|
— |
|
|
|
6,548 |
|
|
|
6,015 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Service charges on deposits |
|
|
34,769 |
|
|
|
30,233 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Digital banking income |
|
|
21,485 |
|
|
|
20,053 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net swap fee and valuation income |
|
|
9,054 |
|
|
|
4,937 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net securities brokerage revenue |
|
|
10,408 |
|
|
|
9,010 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net insurance services revenue |
|
|
3,211 |
|
|
|
2,999 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Bank-owned life insurance |
|
|
12,439 |
|
|
|
10,643 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Payment processing fees |
|
|
2,536 |
|
|
|
2,539 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net securities gains |
|
|
1,480 |
|
|
|
2,302 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net gain on OREO and other assets |
|
|
2,776 |
|
|
|
400 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Mortgage banking income |
|
|
2,096 |
|
|
|
5,402 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Other income |
|
|
11,133 |
|
|
|
6,554 |
|
|
|
— |
|
|
|
1,044 |
|
|
|
3 |
|
|
|
28 |
|
|
|
|
|
|
|
Total revenues |
|
$ |
776,095 |
|
|
$ |
632,179 |
|
|
$ |
24,871 |
|
|
$ |
23,874 |
|
|
$ |
(12,148 |
) |
|
$ |
(14,746 |
) |
|
$ |
788,818 |
|
|
$ |
641,307 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less (2): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and wages |
|
|
192,720 |
|
|
|
162,960 |
|
|
|
6,724 |
|
|
|
6,354 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Employee benefits |
|
|
50,016 |
|
|
|
48,350 |
|
|
|
1,597 |
|
|
|
1,517 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Net occupancy (3) |
|
|
24,115 |
|
|
|
24,517 |
|
|
|
205 |
|
|
|
199 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Equipment and software (4) |
|
|
45,419 |
|
|
|
46,346 |
|
|
|
1,511 |
|
|
|
154 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Miscellaneous taxes |
|
|
14,563 |
|
|
|
14,225 |
|
|
|
5 |
|
|
|
4 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Professional services |
|
|
12,977 |
|
|
|
12,870 |
|
|
|
613 |
|
|
|
527 |
|
|
|
7,717 |
|
|
|
5,658 |
|
|
|
|
|
|
|
Marketing |
|
|
8,705 |
|
|
|
7,166 |
|
|
|
58 |
|
|
|
59 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
FDIC insurance |
|
|
13,582 |
|
|
|
15,487 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Supplies |
|
|
5,875 |
|
|
|
6,125 |
|
|
|
141 |
|
|
|
135 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Telecommunications |
|
|
3,353 |
|
|
|
4,284 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
General administration |
|
|
6,453 |
|
|
|
6,160 |
|
|
|
159 |
|
|
|
128 |
|
|
|
1,221 |
|
|
|
765 |
|
|
|
|
|
|
|
Merger-related and restructuring |
|
|
4,396 |
|
|
|
65,387 |
|
|
|
— |
|
|
|
— |
|
|
|
1,050 |
|
|
|
7,062 |
|
|
|
|
|
|
|
Amortization of intangibles |
|
|
20,535 |
|
|
|
21,385 |
|
|
|
888 |
|
|
|
468 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Corporate overhead expenses (5) |
|
|
— |
|
|
|
— |
|
|
|
5,640 |
|
|
|
5,348 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
Other segment items (6) |
|
|
15,926 |
|
|
|
12,796 |
|
|
|
390 |
|
|
|
264 |
|
|
|
102 |
|
|
|
(11 |
) |
|
|
|
|
|
|
Segment profit (loss) before provision for income taxes |
|
|
357,460 |
|
|
|
184,121 |
|
|
|
6,940 |
|
|
|
8,717 |
|
|
|
(22,238 |
) |
|
|
(28,220 |
) |
|
|
|
|
|
|
Provision for income taxes |
|
|
75,465 |
|
|
|
36,794 |
|
|
|
1,457 |
|
|
|
1,830 |
|
|
|
(5,577 |
) |
|
|
(6,001 |
) |
|
|
|
|
|
|
Segment profit (loss) |
|
$ |
281,995 |
|
|
$ |
147,327 |
|
|
$ |
5,483 |
|
|
$ |
6,887 |
|
|
$ |
(16,661 |
) |
|
$ |
(22,219 |
) |
|
$ |
270,817 |
|
|
$ |
131,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of segment profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock dividends |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(12,721 |
) |
|
|
(7,594 |
) |
Net income available to common shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
258,096 |
|
|
$ |
124,401 |
|
(1) Within Corporate Other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (3) Includes depreciation and amortization expense of $6.4 million and $6.3 million for the community banking segment for the nine months ended September 30, 2026 and 2025, respectively. Such expenses for the trust and investment services segment were immaterial. (4) Includes depreciation and amortization expense of $8.7 million and $8.6 million for the community banking segment for the nine months ended September 30, 2026 and 2025, respectively. Such expenses for the trust and investment services segment were immaterial. (5) Consist of audit and accounting services, human resources, bank administration and information technology expenses. (6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.
|