Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 225

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 225
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.7 million or 3.1% at December 31, 2023. 

Charge-offs and Recoveries — Total charge-offs increased $8.7 million or 77.8% to $19.9 million, while total recoveries decreased $0.3 million to $6.2 million, resulting in an increase of $9.0 million in net charge-offs for 2024 compared to 2023. The year-over-year increase is primarily due to the charge-off of two loans totaling $6.1 million in 2024. Despite this increase, the net loan charge-off rates of 0.11% and 0.04% of total average loans at December 31, 2024 and 2023, respectively, are consistent with continued overall low levels of non-performing loans. Table 18 summarizes charge-offs and recoveries as well as net charge-offs as a percentage of average loans for each category of the loan portfolio. 

56

TABLE 18. CHARGE-OFFS AND RECOVERIES

    December 31,

    (dollars in thousands)
     
    2024

    2023

    2022

    Commercial real estate - land and construction

    Net charge-offs / (recoveries)
     
    $
    527

    $
    (65
    )
     
    $
    (52
    )

    Average balance outstanding

    1,152,128

    887,977

    903,411

    Net charge-offs (recoveries) as a percentage of average loans

    0.05
     
    %
     
    (0.01
    )
    %
     
    (0.01
    )
    %

    Commercial real estate - improved property

    Net charge-offs / (recoveries)
     
    $
    39

    $
    1,030

    $
    (243
    )

    Average balance outstanding

    5,834,795

    5,403,653

    4,825,288

    Net charge-offs (recoveries) as a percentage of average loans

    0.00
     
     %
     
    0.02
     
    %
     
    (0.01
    )
    %

    Commercial and industrial

    Net charge-offs / (recoveries)
     
    $
    8,533

    $
    1,064