Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 202

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 202
---
653.3 million of tax-exempt general obligation and revenue bonds. The following table presents additional information regarding the municipal bond type and issuer (at fair value):

TABLE 9. COMPOSITION OF MUNICIPAL SECURITIES

    December 31, 2024

    December 31, 2023

    (dollars in thousands)
     
    Amount

    % of Total

    Amount

    % of Total

    Municipal bond type:

    General Obligation
     
    $
    747,825

    73.0

    $
    796,448

    73.3

    Revenue

    276,786

    27.0

    289,790

    26.7

    Total municipal bond portfolio
     
    $
    1,024,611

    100.0

    $
    1,086,238

    100.0

    Municipal bond issuer:

    State Issued
     
    $
    60,841

    5.9

    $
    67,268

    6.2

    Local Issued

    963,770

    94.1

    1,018,970

    93.8

    Total municipal bond portfolio
     
    $
    1,024,611

    100.0

    $
    1,086,238

    100.0

44

Wesbanco’s municipal bond portfolio is broadly spread across the United States. The following table presents the top five states of municipal bond concentration based on total fair value at December 31, 2024:

TABLE 10. CONCENTRATION OF MUNICIPAL SECURITIES

    December 31, 2024

    (dollars in thousands)
     
    Fair Value

    % of Total

    California (1)
     
    $
    200,526

    19.5

    Pennsylvania

    190,450

    18.6

    Ohio

    86,836

    8.5

    Texas

    76,506

    7.5

    Illinois (2)

    39,471

    3.9

    All other states (3)

    430,822

    42.0

    Total municipal bond portfolio
     
    $
    1