Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 226

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 226
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 Overdrafts

    Net charge-offs / (recoveries)
     
    $
    1,467

    $
    1,339

    $
    1,268

    Total loans

    Net charge-offs / (recoveries)
     
    $
    13,643

    $
    4,642

    $
    1,624

    Average balance outstanding

    12,185,386

    11,132,618

    10,083,925

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

    0.11
     
    %
     
    0.04
     
    %
     
    0.02
     
    %

ALLOWANCE FOR CREDIT LOSSES

As of December 31, 2024, the total allowance for credit losses – loans and commitments was $144.9 million, of which $138.8 million relates to loans and $6.1 million relates to loan commitments. The allowance for credit losses – loans was 1.10% of total portfolio loans as of December 31, 2024, compared to 1.12% as of December 31, 2023. 

 The allowance for credit losses - loans individually-evaluated increased $12.1 million from December 31, 2023 to December 31, 2024 due to an individually-evaluated loan analysis completed on certain classified commercial real estate loans. The allowance for credit losses-loans collectively-evaluated decreased from December 31, 2023 to December 31, 2024 by $4.0 million.

 The allowance for credit losses - loan commitments was $6.1 million at December 31, 2024 as compared to $8.6 million as of December 31, 2023, and is included in other liabilities on the Consolidated Balance Sheets.

 The allowance for credit losses by loan category, presented in Note 5, “Loans and the Allowance for Credit Losses” of the Consolidated Financial Statements, summarizes the impact of changes in various factors that affect the allowance for credit losses in each segment of the portfolio.  The allowance for credit losses under CECL is calculated utilizing the probability of default ("PD")/ loss given default ("LGD"), which is then discounted to net present value. PD is the probability the asset will default within a given time frame and LGD is the percentage of the asset not expected