Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 97

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 97
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1,497

        Total nonrecurring fair value measurements
         
        $
        19,770

        $
        —

        $
        —

        $
        19,770

       Wesbanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no significant transfers between levels 1, 2, or 3 for the years ended December 31, 2024 and 2023.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: 

        Quantitative Information about Level 3 Fair Value Measurements

        (in thousands)
         
        Fair ValueEstimate

        ValuationTechniques
         
        UnobservableInput
         
        Range / WeightedAverage

        December 31, 2024:

        Collateral dependent loans
         
        $
        17,525

        Appraisal of collateral (1)
         
        Appraisal adjustments (2)
         
        0.0%/0.0%

        Liquidation expenses (2)
         
        (7.8%)-(8.0%)/(7.9%)

        Other real estate owned and    repossessed assets

        852

        Appraisal of collateral (1) (3)

        December 31, 2023:

        Collateral dependent loans
         
        $
        18,273

        Appraisal of collateral (1)
         
        Appraisal adjustments (2)
         
        0.0%/0.0%

        Liquidation expenses (2)
         
        (8.0%)/(8.0%)

        Other real estate owned and    repossessed assets

        1,497

        Appraisal of collateral (1)(3)

       (1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs, which 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 expenses are presented as a percent of the appraisal.(3)Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management, which are not identifiable.

124

The estimated fair values of Wesbanco’s financial instruments are summarized