Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 98

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 98
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73,083

        —

        73,083

        —

        Accrued interest payable

        11,121

        11,121

        11,121

        —

        —

       The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on Wesbanco’s consolidated balance sheets:Cash and due from banks:  The carrying amount for cash and due from banks is a reasonable estimate of fair value.Held-to-maturity debt securities:  Fair values for debt securities held-to-maturity are determined in the same manner as investment securities, which are described above.  The carrying value is net of the allowance for credit losses on held-to-maturity debt securities.

125

Net loans:  Fair values for loans are estimated in a valuation model using a discounted cash flow methodology.  The discount rates take into account interest rates currently being offered to customers for loans with similar terms, the credit risk associated with the loan and other market factors, including liquidity.  Wesbanco believes the discount rates are consistent with transactions occurring in the marketplace for both performing and distressed loan types. The carrying value is net of the allowance for credit losses and other associated premiums and discounts.  Due to the significant judgment involved in evaluating credit quality, loans are classified within level 3 of the fair value hierarchy.Accrued interest receivable:  The carrying amount of accrued interest receivable approximates its fair value.Deposits:  The carrying amount is considered a reasonable estimate of fair value for all non-maturity deposit accounts, which includes non-interest bearing demand, interest bearing demand, money market and savings deposit accounts.  Non-maturity deposit accounts are classified within level 1 of the fair value hierarchy. The fair value of fixed maturity certificates of deposit is estimated by a discounted cash flow method using rates currently offered for deposits of similar remaining maturities, and is therefore classified in level 2 of the fair value hierarchy.Federal Home Loan Bank borrowings:  The fair value of FHLB borrowings is based on rates currently available to Wesbanco for borrowings with similar terms and remaining maturities.Other borrowings:  The carrying amount of federal funds purchased and overnight sweep accounts generally approximate fair value.  Other repurchase agreements are based on quoted market prices if available.  If market prices are not available, for certain fixed and adjustable rate repurchase agreements, then quoted market prices of similar instruments are used.Subordinated debt and junior subordinated debt:  The fair value of sub