Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 106

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 106
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 and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.  For purposes of determining the community banking reportable segment, these lines of business are aggregated, in accordance with the review of the CODM.  The trust and investment services segment offers trust services as well as various alternative investment products, including mutual funds, and also serves as investment adviser to a family of mutual funds called the “WesMark Funds.”   The fund family is comprised of the WesMark Large Company Fund, the WesMark Balanced Fund, the WesMark Small Company Fund, the WesMark Government Bond Fund, the WesMark West Virginia Municipal Bond Fund, and the WesMark Tactical Opportunity Fund.  Corporate support functions, which are generally all attributable to the parent company, do not represent a reportable segment and are presented within Corporate Other for purposes of reconciling to the consolidated financials.  All of Wesbanco’s revenue is derived from domestic operations, and Wesbanco has no major customers providing greater than 10% of total segment revenue.  Wesbanco’s CODM is its President and Chief Executive Officer.  The CODM uses net income as the reported measure of segment profit or loss in making business decisions regarding reinvestment into the Company’s segments, using profits for acquisitions and/or paying dividends to shareholders.  In addition, net income is used to monitor budget versus actual results, to perform competitive analysis by benchmarking to peers and as a factor to establish compensation for certain employees.  Wesbanco does not have any material intra-entity sales or transfers.  The market value of trust assets totaled approximately $6.0 billion and $5.4 billion at December 31, 2024 and 2023, respectively.  These assets are held by Wesbanco in fiduciary or agency capacities and are not included as assets on Wesbanco’s Consolidated Balance Sheets.  Therefore, substantially all of Wesbanco’s assets are attributable to the community banking segment.   

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The following tables present selected financial information with respect to Wesbanco’s business segments for the years ended December 31, 2024, 2023 and 2022 as received and reviewed on a regular basis by the CODM:

        (in thousands)
         
        CommunityBanking

        Trust andInvestmentServices

        CorporateOther

        Totals

        For the Year Ended December 31, 2024

        Interest and dividend income
         
        $
        825