Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 38

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 38
---
,508
    )

    (116,047
    )

    Net cash provided by financing activities

    791,904

    552,874

    21,073

    Net (decrease) increase in cash, cash equivalents and restricted cash

    (27,246
    )

    186,972

    (842,947
    )

    Cash, cash equivalents and restricted cash at beginning of the year

    595,383

    408,411

    1,251,358

    Cash, cash equivalents and restricted cash at end of the year
     
    $
    568,137

    $
    595,383

    $
    408,411

    SUPPLEMENTAL DISCLOSURES

    Interest paid on deposits and other borrowings
     
    $
    344,253

    $
    223,918

    $
    37,745

    Income taxes paid

    26,835

    35,595

    24,899

    Transfers of loans to other real estate owned

    152

    210

    1,554

See Notes to Consolidated Financial Statements.

75

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNature of Operations— Wesbanco, Inc. (“Wesbanco” or the “Company”) is a bank holding company offering a full range of financial services, including trust and investment services, mortgage banking, insurance and brokerage services. Wesbanco’s defined business segments are community banking and trust and investment services. As of December 31, 2024, Wesbanco’s banking subsidiary, Wesbanco Bank, Inc. (“Wesbanco Bank” or the “Bank”), headquartered in Wheeling, West Virginia, operates through 181 branches and 188 ATM machines in West Virginia, Ohio, western Pennsylvania, Kentucky, southern Indiana and Maryland. In addition, Wesbanco operates an insurance brokerage company, Wesbanco Insurance Services, Inc., and a full service broker/dealer, Wesbanco Securities, Inc.Use of Estimates— The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Principles of Consolidation—