Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 237

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 237
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 of liquid assets to potential funding needs to meet unexpected deposit losses and/or loan demands. The ability to quickly convert assets to cash at a minimal loss is a primary function of managing Wesbanco’s investment portfolio. Wesbanco believes its cash flow from the loan portfolio, the investment portfolio, and other sources adequately meet its liquidity requirements. Wesbanco’s net loans-to-assets ratio was 67.0% and deposit balances funded 77.4% of total assets at December 31, 2024.

The following table lists the sources of liquidity from assets at December 31, 2024 expected within the next year:

    (in thousands)

    Cash and cash equivalents
     
    $
    568,137

    Securities with a maturity date within the next year and callable securities

    541,559

    Projected payments and prepayments on mortgage-backed securities and collateralized   mortgage obligations (1)

    309,984

    Loans held for sale

    18,695

    Accruing loans scheduled to mature

    1,657,561

    Normal loan repayments

    1,378,414

    Total sources of liquidity expected within the next year
     
    $
    4,474,350

(1) Projected prepayments are based on current prepayment speeds.

Deposit cash flows are another principal factor affecting overall Wesbanco liquidity.  Deposits totaled $14.1 billion at December 31, 2024. Deposit cash flows are impacted by current interest rates, products and rates offered by Wesbanco versus various forms of competition, as well as customer behavior. Certificates of deposit scheduled to mature within one year totaled $1.6 billion at December 31, 2024, with a weighted average cost of 4.09%, which includes jumbo regular certificates of deposit totaling $920.3 million with a weighted-average cost of 4.37%, and jumbo CDARS® certificates of deposit of $44.7 million with a weighted-average cost of 4.15%. 

Uninsured deposits, as reported for regulatory purposes, totaled $4.6 billion at December 31, 2024, or 33% of total deposits.  Uninsured deposits include $1.5 billion of public funds deposits that are over the FDIC-insured limit.  Wesbanco secures these public funds deposits by pledging investment securities with a market value at or above the deposit balance.