Company: WSBC
Filing Date: 2025-01-22
Form Type: 425
Source: 0000950170-25-007807
Chunk: 4

Company: WESBANCO INC
Filing Date: 2025-01-22
Form: 425
Chunk 4
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Financial and operational highlights during the quarter ended December 31, 2024:

Total loan growth was 8.7% year-over-year and 6.6% over the sequential quarter, annualized

Sequential quarter loan growth was fully funded through deposit growth

Total loans are up $1.0 billion compared to the prior year, driven by commercial loan growth

Total loans have grown at a compound annual rate of 9.1% since year-end 2021

Deposits of $14.1 billion increased 7.3% year-over-year and 8.6% over the sequential quarter, annualized

Deposit growth, excluding certificates of deposit, increased 3.9% year-over-year and 7.7% over the sequential quarter, annualized

Total deposits are up $1.0 billion compared to the prior year, matching loan growth

Average loans to average deposits were 89.2%, providing continued capacity to fund loan growth

Fee income increased $6.3 million, or 21%, year-over-year reflecting growth in net swap fee and valuation income, trust fees, and service charges on deposits, which include new products and services and treasury management fees

Key credit quality metrics continued to remain at low levels and favorable to peer bank averages (based upon the prior four quarters for banks with total assets between $10 billion and $25 billion)

The acquisition of Premier Financial Corp. remains on track, pending regulatory approvals

WesBanco was recently named one of America’s Best Regional Banks by Newsweek and a Most Trusted Company in America by Forbes

“2024 was an excellent year for WesBanco. We delivered strong loan growth of $1 billion, which was fully funded by deposit growth. We also announced our transformational merger with Premier Financial and continued to earn national recognitions for stability, trustworthiness, and workplace excellence,” said Jeff Jackson, President and Chief Executive Officer, WesBanco. “We have achieved a compound annual loan growth rate of 9% over the past three years, raised $200 million of common equity and paid down higher-cost borrowings – key successes in our strategy to strengthen our balance sheet and net interest margin. Additionally, we continued to focus on cost-control while enhancing our wealth