Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 29

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 29
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 the qualitative factor adjustments, and the determination of the qualitative factor adjustments for distressed industries and the level of criticized and classified loans within the commercial loan segments.To test the qualitative factor adjustments for distressed industries and the level of criticized and classified loans within the commercial loan segments, we evaluated the appropriateness of management’s methodology and assessed the basis for the adjustments and whether all relevant risks were reflected in the ACL. With the assistance of EY specialists, we evaluated the methodology and appropriateness of the qualitative factor adjustments for distressed industries and level of criticized and classified loans within the commercial loan segments. We tested the completeness, accuracy, and relevance of the underlying data used to estimate the qualitative factors. We evaluated whether the qualitative factor adjustments were reasonable based on the changes in economic conditions and the loan portfolio in the period. Further, we performed an independent search for the existence of new or contrary information relating to risks impacting the distressed industries and the level of criticized and classified loans within the commercial loan segments qualitative factors to validate that management’s considerations are appropriate. Additionally, we evaluated whether the overall ACL appropriately reflects expected losses in the loan portfolio by comparing it the Company’s historical loss data and to peer bank data. We also performed analytical procedures on the ACL, including coverage ratios and comparison to prior periods as well as prior economic cycles. 

/s/ Ernst & Young LLP

We have served as the Company’s auditor since 1996.

Pittsburgh, Pennsylvania 

March 3, 2025

70

WESBANCO, INC. CONSOLIDATED BALANCE SHEETS

    December 31,

    (in thousands, except shares)
     
    2024

    2023

    ASSETS

    Cash and due from banks, including interest bearing amounts of $142,271 and      $158,504, respectively
     
    $
    568,137

    $
    595,383

    Securities:

    Equity securities, at fair value

    13,427

    12,320

    Available-for-sale debt securities, at fair value

    2,246,072

    2,194,329

    Held-to-maturity debt securities (fair values of $1,006,817 and $1,069,159, respectively)

    1,152,906

    1,199,527

    Allowance for credit losses, held-to-maturity debt securities

    (146
    )

    (192
    )