Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 200

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 200
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 any economic or governmental policies that could impact this assumption. Wesbanco recorded an allowance on held-to-maturity debt securities of $0.1 million and $0.2 million as of December 31, 2024 and 2023, respectively.

Equity securities, of which a portion consists of investments in various mutual funds held in grantor trusts formed in connection with a key officer and director deferred compensation plan, are recorded at fair value. Gains and losses due to fair value fluctuations on equity securities are included in net securities gains or losses. For those equity securities relating to the key officer and director deferred compensation plan, the corresponding change in the obligation to the employee is recognized in employee benefits expense.

Cost-method investments consist primarily of FHLB of Pittsburgh stock totaling $48.2 million and $62.0 million at December 31, 2024 and 2023, respectively, and are included in other assets in the Consolidated Balance Sheets.

43

TABLE 7. MATURITY DISTRIBUTION AND YIELD ANALYSIS OF SECURITIES

The following table presents the tax-equivalent yields of held-to-maturity debt securities by contractual maturity at December 31, 2024. In some instances, the issuers may have the right to call or prepay obligations without penalty prior to the contractual maturity date.

    One Year or Less

    One to Five Years

    Five to Ten Years

    Over Ten Years

    Mortgage-backed securities

    Total

    Weighted-average yield (1):

    U.S. Government sponsored entities and agencies

    —

    —

    —

    —

    2.16
    %

    2.16
    %

    Residential mortgage-backed securities and collateralized mortgage obligations ofgovernment sponsored entities and agencies (2)

    —

    —

    —

    —

    2.83
    %

    2.83
    %

    Obligations of states and political subdivisions (3)

    4.42
    %

    3.76
    %

    3.05
    %

    2.55
    %

    —

    3.31
    %

    Corporate debt securities

    3.56
    %

    —

    —

    —

    —

    3.56
    %

    Total weighted average yield

    3.98
    %

    2.73
    %

    3.05
    %

    2.55
    %

    2.