Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 181

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 181
---
259,720

    16,879,541

    Less: average goodwill and other intangibles, net of deferred tax liability

    (1,121,472
    )

    (1,128,277
    )

    (1,136,062
    )

    Average tangible assets
     
    $
    17,001,153

    $
    16,131,443

    $
    15,743,479

    Return on average tangible assets, excluding after-tax restructuring and merger-related expenses

    0.90
    %

    0.99
    %

    1.22
    %

    Dividend payout ratio, excluding after-tax restructuring and merger related expenses:

    Dividends declared per common share
     
    $
    1.45

    $
    1.41

    $
    1.37

    Net income per common share - diluted

    2.26

    2.51

    3.02

    Add: after-tax restructuring and merger-related expenses per diluted share (1)

    0.08

    0.05

    0.02

    Net income per common share - diluted, excluding after-tax restructuring and merger-related expenses
     
    $
    2.34

    $
    2.56

    $
    3.04

    Dividend payout ratio, excluding after-tax restructuring and merger related expenses

    61.97

    55.08

    45.07

(1) Tax effected at 21% for all periods presented.

34

RESULTS OF OPERATIONS

EARNINGS SUMMARY

For the year ended December 31, 2024, net income available to common shareholders was $141.4 million, or $2.26 per diluted share, compared to $148.9 million, or $2.51 per diluted share for the year ended December 31, 2023. Net income available to common shareholders for the year ended December 31, 2024 decreased 5.1% compared to 2023, while diluted per share earnings decreased 10.0%.

 For the year ended December 31, 2024, net interest income decreased $3.1 million or 0.7%, primarily due to higher funding costs offsetting the impact of loan growth and higher earning asset yields year-to-date.  This also resulted in a decrease in the net interest