WESBANCO INC

Table 43: Borrowed Funds

While borrowings are a significant source of funding for Wesbanco, they are less significant as compared to total deposits. FHLB borrowings increased $0.8 billion from December 31, 2025, to September 30, 2026, as $1.9 billion in new advances were partially offset by $1.1 billion in maturities. The average cost of new borrowings was approximately 4.03% while the cost of maturing borrowings was approximately 3.91% during the first nine months of 2026.

Other short-term borrowings, which may consist of federal funds purchased, repurchase agreements and overnight sweep checking accounts were $113.8 million at September 30, 2026, compared to $110.7 million at December 31, 2025. There were no outstanding federal funds purchased at either September 30, 2026, or December 31, 2025.

CAPITAL RESOURCES

Shareholders' equity increased $51.2 million or 1.3% from December 31, 2025, to $4.1 billion at September 30, 2026. The increase resulted from $270.8 million in net earnings for the nine months ended September 30, 2026, which was partially offset by the declaration of common and preferred shareholder dividends totaling $109.3 million and $12.7 million, respectively, and a $102.4 million other comprehensive loss for the nine months ended September 30, 2026. Wesbanco also increased its quarterly dividend rate $0.01 per quarter to $0.38 per share in November 2025, representing a 2.7% increase over the prior quarterly rate and a cumulative 171% increase since 2010.

As of September 30, 2026, Wesbanco had two active stock repurchase plans. They were approved by the Board of Directors on February 24, 2022 for 3.2 million shares and May 20, 2026 for 4.0 million shares and provide for shares to be repurchased for general corporate purposes, which may include potential acquisitions, shareholder dividend reinvestment and employee benefit plans. The timing, price and quantity of purchases are at the discretion of Wesbanco, and the plan may be discontinued or suspended at any time. Wesbanco purchased 290,135 shares under open market transactions during the first nine months of 2026 under the plans. As of September 30, 2026, the plans have 4,539,107 shares remaining for repurchase.

Regulatory guidelines require bank holding companies and commercial banks to maintain certain minimum capital ratios and define companies as “well capitalized” that sufficiently exceed the minimum ratios. At September 30, 2026, regulatory capital levels for both the Bank and Wesbanco were substantially greater than the minimum amounts needed to be considered “well capitalized” under the regulations. There are various legal limitations under federal and state laws that limit the payment of dividends from the Bank to Wesbanco. As of September 30, 2026, under FDIC regulations, Wesbanco could receive, without prior regulatory approval, a dividend of approximately $447.6 million from the Bank.

The following table summarizes risk-based capital amounts and ratios for Wesbanco and the Bank for the periods indicated: