Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 68

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 68
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 discounts on purchased loans. Net deferred loan costs were $11.9 million at December 31, 2024 and $11.5 million at December 31, 2023.  The un-accreted discount on purchased loans from acquisitions was $10.5 million at December 31, 2024 and $13.5 million at December 31, 2023. 

        December 31,

        December 31,

        (in thousands)
         
        2024

        2023

        Commercial real estate:

        Land and construction
         
        $
        1,352,083

        $
        1,055,865

        Improved property

        5,974,598

        5,509,583

        Total commercial real estate

        7,326,681

        6,565,448

        Commercial and industrial

        1,787,277

        1,670,659

        Residential real estate

        2,520,086

        2,438,574

        Home equity

        821,110

        734,219

        Consumer

        201,275

        229,561

        Total portfolio loans

        12,656,429

        11,638,461

        Loans held for sale

        18,695

        16,354

        Total loans
         
        $
        12,675,124

        $
        11,654,815

       Allowance for Credit LossesThe allowance for credit losses under CECL is calculated utilizing the probability of default ("PD")/ loss given default ("LGD"), which is then discounted to net present value. PD is the probability the asset will default within a given time frame and LGD is the percentage of the asset not expected to be collected due to default. The primary macroeconomic drivers of the quantitative model include forecasts of national unemployment and interest rates, as well as modeling adjustments for changes in prepayment speeds, portfolio mix and loan growth. At December 31, 2024, the primary drivers of the allowance were loan growth, macroeconomic variables and prepayment speeds, as well as changes in qualitative factors for distressed industries, the current interest rate environment and changes in the level of criticized and classified loans within the commercial loan categories.  The forecast was based upon a probability weighted approach which is designed to incorporate loss projections from a baseline, upside and