Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 233

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 233
---
 408.6

    Over six through twelve months

    59,930

    18,422

    41,508

    225.3

    Over twelve months

    2,667

    37,815

    (35,148
    )

    (92.9
    )

    Total uninsured certificates of deposit
     
    $
    245,057

    $
    105,947

    $
    139,110

    131.3

    Total uninsured deposits (1)
     
    $
    4,619,799

    $
    4,040,705

    $
    579,094

    14.3

(1)  Uninsured deposits include public funds deposits that are collateralized by investment securities totaling $1.5 billion at both December 31, 2024 and 2023. 

60

BORROWINGS

TABLE 23. BORROWINGS

    December 31,

    (dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    Federal Home Loan Bank Borrowings
     
    $
    1,000,000

    $
    1,350,000

    $
    (350,000
    )

    (25.9
    )

    Other short-term borrowings

    192,073

    105,893

    86,180

    81.4

    Subordinated debt and junior subordinated debt

    279,308

    279,078

    230

    0.1

    Total
     
    $
    1,471,381

    $
    1,734,971

    $
    (263,590
    )

    (15.2
    )

Borrowings are a significant source of funding for Wesbanco in addition to deposits. During 2024, FHLB borrowings decreased $350.0 million from December 31, 2023, as $1.5 billion in maturities were partially offset by $1.2 billion in new advances. The average cost in 2024 of maturing and paid-off FHLB borrowings was 5.57%, compared to the average cost of 5.62% for new borrowings in 2024.

Wesbanco is a member of the F