Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 224

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 224
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11,638,461

    Non-performing loans as a percentage of total portfolio   loans

    0.31
     
    %
     
    0.23
     
    %

    Non-accrual loans as a percentage of total portfolio loans

    0.31

    0.23

    Non-performing assets as a percentage of total assets

    0.22

    0.16

    Non-performing assets as a percentage of total portfolio   loans, real estate owned and repossessed assets

    0.32

    0.24

Non-accrual loans increased $12.9 million or 48.3% from December 31, 2023 to December 31, 2024. 

OREO and repossessed assets totaled $0.9 million at December 31, 2024 as compared to $1.5 million at December 31, 2023. Wesbanco seeks to minimize the period for which it holds OREO and repossessed assets while also attempting to obtain a fair value from their disposition. Therefore, the sales price of these assets is dependent on current market conditions that affect the value of real estate, used automobiles, and other collateral. Repossessed assets are generally sold at auction within 60 days after repossession. Expenses associated with owning OREO and repossessed assets charged to other expenses were $0.3 million for both 2024 and 2023. Net gains on the disposition of OREO and repossessed assets are credited or charged to non-interest income and were $0.1 million in 2024 and immaterial in 2023.

Criticized and Classified Loans —Please refer to Note 5, “Loans and the Allowance for Credit Losses,” of the Consolidated Financial Statements for a description of internally-assigned risk grades for commercial loans and a summary of loans by grade. Wesbanco’s criticized loans are currently protected, but have weaknesses, which if not corrected, may be inadequately protected at some future date. Classified loan grades are equivalent to the classifications used by banking regulators to identify those loans that have significant adverse characteristics. A classified loan grade is assigned to all non-accrual commercial loans. Criticized and classified loans totaled $354.7 million or 3.9% of total commercial loans at December 31, 2024, compared to $258