WESBANCO INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
WSBC$38.59-0.2%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets at March 31, 2024 (unaudited) and December 31, 2023
WESBANCO, INC. CONSO LIDATED BALANCE SHEETS
| March 31, | December 31, | |
|---|---|---|
| (unaudited, in thousands, except shares) | 2024 | 2023 |
| ASSETS | ||
| Cash and due from banks, including interest bearing amounts of $370,729 and $436,879, respectively | $509,669 | $595,383 |
| Securities: | ||
| Equity securities, at fair value | 13,074 | 12,320 |
| Available-for-sale debt securities, at fair value | 2,119,272 | 2,194,329 |
| Held-to-maturity debt securities (fair values of $1,052,444 and $1,069,159, respectively) | 1,190,010 | 1,199,527 |
| Allowance for credit losses, held-to-maturity debt securities | (183) | (192) |
| Net held-to-maturity debt securities | 1,189,827 | 1,199,335 |
| Total securities | 3,322,173 | 3,405,984 |
| Loans held for sale | 12,472 | 16,354 |
| Portfolio loans, net of unearned income | 11,873,167 | 11,638,461 |
| Allowance for credit losses - loans | (129,190) | (130,675) |
| Net portfolio loans | 11,743,977 | 11,507,786 |
| Premises and equipment, net | 232,630 | 233,571 |
| Accrued interest receivable | 78,564 | 77,435 |
| Goodwill and other intangible assets, net | 1,130,175 | 1,132,267 |
| Bank-owned life insurance | 357,099 | 355,033 |
| Other assets | 385,976 | 388,561 |
| Total Assets | $17,772,735 | $17,712,374 |
| LIABILITIES | ||
| Deposits: | ||
| Non-interest bearing demand | $3,938,610 | $3,962,592 |
| Interest bearing demand | 3,529,691 | 3,463,443 |
| Money market | 2,189,769 | 2,017,713 |
| Savings deposits | 2,499,466 | 2,493,254 |
| Certificates of deposit | 1,339,237 | 1,231,702 |
| Total deposits | 13,496,773 | 13,168,704 |
| Federal Home Loan Bank borrowings | 1,100,000 | 1,350,000 |
| Other short-term borrowings | 72,935 | 105,893 |
| Subordinated debt and junior subordinated debt | 279,136 | 279,078 |
| Total borrowings | 1,452,071 | 1,734,971 |
| Accrued interest payable | 15,929 | 11,121 |
| Other liabilities | 269,600 | 264,516 |
| Total Liabilities | 15,234,373 | 15,179,312 |
| SHAREHOLDERS' EQUITY | ||
| Preferred stock, no par value, 1,000,000 shares authorized; 150,000 shares 6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference $150,000,000, issued and outstanding at March 31, 2024 and December 31, 2023, respectively | 144,484 | 144,484 |
| Common stock, $2.0833 par value; 100,000,000 shares authorized; 68,081,306 shares issued; 59,395,777 and 59,376,435 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 141,834 | 141,834 |
| Capital surplus | 1,636,964 | 1,635,859 |
| Retained earnings | 1,154,307 | 1,142,586 |
| Treasury stock (8,685,529 and 8,704,871 shares - at cost, respectively) | (302,264) | (302,995) |
| Accumulated other comprehensive loss | (234,922) | (226,693) |
| Deferred benefits for directors | (2,041) | (2,013) |
| Total Shareholders' Equity | 2,538,362 | 2,533,062 |
| Total Liabilities and Shareholders' Equity | $17,772,735 | $17,712,374 |
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