Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 74

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 74
---
 at December 31, 2024 and 2023, respectively, primarily consist of core deposit and other customer list intangibles, which have finite lives and are amortized using straight line and accelerated methods. Other intangible assets are being amortized over estimated useful lives ranging from ten to sixteen years. Amortization of core deposit and customer list intangible assets totaled $8.3 million, $9.1 million and $10.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. Wesbanco completed its annual quantitative goodwill impairment evaluation as of November 30, 2024, and concluded that there were no indications of impairment.  In addition, as there were no significant changes in market conditions, consolidated operating results or forecasted future results after November 30, 2024, it was concluded that at December 31, 2024, there were also no indications of impairment.  Additionally, there were no events or changes in circumstances indicating impairment of other intangible assets as of December 31, 2024.The following table shows Wesbanco’s capitalized other intangible assets and related accumulated amortization: 

        December 31,

        (in thousands)
         
        2024

        2023

        Other intangible assets:

        Gross carrying amount
         
        $
        98,271

        $
        98,271

        Accumulated amortization

        (71,016
        )

        (62,765
        )

        Net carrying amount of other intangible assets
         
        $
        27,255

        $
        35,506

       The following table shows the amortization on Wesbanco’s other intangible assets for each of the next five years, and in the aggregate thereafter, as of December 31, 2024 (in thousands): 

        Year
         
        Amount

        2025
         
        $
        7,475

        2026

        6,737

        2027

        6,214

        2028

        4,501

        2029

        2,182

        2030 and thereafter

        146

        Total
         
        $
        27,255

105

NOTE 8. INVESTMENTS IN LIMITED PARTNERSHIPSWesbanco is a limited partner in several tax-advantaged