Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 190

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 190
---

    (971
    )

    (14.0
    )

    Net securities brokerage revenue

    10,238

    10,055

    183

    1.8

    Bank-owned life insurance

    9,544

    11,002

    (1,458
    )

    (13.3
    )

    Mortgage banking income

    4,270

    2,652

    1,618

    61.0

    Net securities gains (losses)

    1,408

    900

    508

    56.4

    Net gains on other real estate owned and other assets

    142

    1,520

    (1,378
    )

    (90.7
    )

    Net insurance services revenue

    3,651

    3,555

    96

    2.7

    Payment processing fees

    3,504

    3,652

    (148
    )

    (4.1
    )

    Other

    8,677

    6,494

    2,183

    33.6

    Total non-interest income
     
    $
    127,983

    $
    120,447

    $
    7,536

    6.3

Non-interest income is a significant source of revenue and an important part of Wesbanco’s results of operations, as it represented 21.1% and 20.0% of total revenue for 2024 and 2023, respectively. Wesbanco offers its customers a wide range of retail, commercial, investment and electronic banking services, which are viewed as a vital component of Wesbanco’s ability to attract and maintain customers, as well as providing additional fee income beyond normal spread-related income to Wesbanco. Non-interest income increased $7.5 million or 6.3% in 2024 compared to 2023, primarily due to increases in trust fees, service charges on deposits, mortgage banking income, and other income. The increases were slightly offset by decreases in net swap fee and valuation income, bank-owned life insurance and net gains on other real estate owned and other assets.

Trust fees increased $2.5 million or 9.0% in 2024 compared to 2023. Trust assets of $6.0 billion at