Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 94

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 94
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 and state income taxes applicable to securities transactions totaled $0.3 million, $0.2 million and ($0.4) million for the years ended December 31, 2024, 2023 and 2022, respectively.Wesbanco had $0.1 million of unrecognized tax benefits and interest as of both December 31, 2024 and 2023. As of December 31, 2024, none of these tax benefits would affect the effective tax rate if recognized. At December 31, 2024 and December 31, 2023, accrued interest related to uncertain tax positions was immaterial. Wesbanco provides for interest and penalties related to uncertain tax positions as part of its provision for federal and state income taxes.Wesbanco is subject to U.S. federal income tax as well as to tax in various state income tax jurisdictions. Wesbanco and its prior acquired companies are no longer subject to any income tax examinations for years prior to 2021.

121

Unrecognized Tax BenefitsA reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: 

        For the Years Ended December 31,

        (in thousands)
         
        2024

        2023

        2022

        Balance at beginning of year
         
        $
        58

        $
        158

        $
        226

        Additions based on tax positions related to the current year

        58

        20

        —

        Reductions due to the statute of limitations

        —

        (120
        )

        (68
        )

        Balance at end of year
         
        $
        116

        $
        58

        $
        158

NOTE 17. FAIR VALUE MEASUREMENTFair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments.Fair value is determined at one point in time and is not representative of future value.  These amounts do not reflect the total value of a going concern organization. Management does not