WESBANCO INC
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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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.
Sep 30, 2026 · Filed Oct 29, 2026
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Fair Value of Other Financial Instruments
Table 26: Fair Value of Other Financial Instruments
| Fair Value Measurements at | |||||
|---|---|---|---|---|---|
| Carrying | Fair Value | Quoted Prices inActive Marketsfor IdenticalAssets | SignificantOtherObservableInputs | SignificantUnobservableInputs | |
| (unaudited, in thousands) | Amount | Estimate | (level 1) | (level 2) | (level 3) |
| Financial Assets | |||||
| Cash and due from banks | $978,860 | $978,860 | $978,860 | $— | $— |
| Net held-to-maturity debt securities | 1,093,970 | 924,203 | — | 924,101 | 102 |
| Net loans | 19,685,993 | 19,332,186 | — | — | 19,332,186 |
| Loans held for sale (1) | 19,162 | 20,440 | — | — | 20,440 |
| Accrued interest receivable | 106,182 | 106,182 | 106,182 | — | — |
| Financial Liabilities | |||||
| Deposits | 21,612,503 | 21,593,040 | 19,105,584 | 2,487,456 | — |
| Federal Home Loan Bank borrowings | 1,950,000 | 1,942,923 | — | 1,942,923 | — |
| Other borrowings | 113,800 | 104,171 | 104,171 | — | — |
| Subordinated debt and junior subordinated debt | 308,991 | 301,104 | — | 301,104 | — |
| Accrued interest payable | 21,363 | 21,363 | 21,363 | — | — |
(1) This line represents one commercial loan HFS on the balance sheet at its amortized cost of $19.2 million. This loan is not included in the $37.5 million of loans HFS detailed in Table 24.
| Fair Value Measurements at | |||||
|---|---|---|---|---|---|
| Carrying | Fair Value | Quoted Prices inActive Marketsfor IdenticalAssets | SignificantOtherObservableInputs | SignificantUnobservableInputs | |
| (in thousands) | Amount | Estimate | (level 1) | (level 2) | (level 3) |
| Financial Assets | |||||
| Cash and due from banks | $956,109 | $956,109 | $956,109 | $— | $— |
| Net held-to-maturity debt securities | 1,131,946 | 1,035,957 | — | 1,035,821 | 136 |
| Net loans | 19,007,683 | 18,563,341 | — | — | 18,563,341 |
| Accrued interest receivable | 106,651 | 106,651 | 106,651 | — | — |
| Financial Liabilities | |||||
| Deposits | 21,668,840 | 21,657,121 | 18,793,468 | 2,863,653 | — |
| Federal Home Loan Bank borrowings | 1,200,000 | 1,200,761 | — | 1,200,761 | — |
| Other borrowings | 110,679 | 105,240 | 105,240 | — | — |
| Subordinated debt and junior subordinated debt | 308,529 | 298,974 | — | 298,974 | — |
| Accrued interest payable | 19,150 | 19,150 | 19,150 | — | — |
The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on Wesbanco’s Consolidated Balance Sheet:
Cash and due from banks: The carrying amount for cash and due from banks is a reasonable estimate of fair value.
Held-to-maturity debt securities: Fair values for debt securities HTM are determined in the same manner as investment securities, which are described above. The carrying value is net of the ACL on HTM debt securities.
Net loans: Fair values for loans are estimated in a valuation model using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans with similar terms, the credit risk associated with the loan and other market factors, including liquidity. Wesbanco believes the discount rates are consistent with transactions occurring in the marketplace for both performing and distressed loan types. The carrying value is net of the ACL and other associated premiums and discounts. Due to the significant judgment involved in evaluating credit quality, loans are classified within level 3 of the fair value hierarchy.
Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value.
Deposits: The carrying amount is considered a reasonable estimate of fair value for demand, savings and other variable rate deposit accounts. The fair value of fixed maturity certificates of deposit is estimated by a discounted cash flow method using rates currently offered for deposits of similar remaining maturities.
Federal Home Loan Bank borrowings: The fair value of FHLB borrowings is based on rates currently available to Wesbanco for borrowings with similar terms and remaining maturities.
Other borrowings: The carrying amount of federal funds purchased and overnight sweep accounts generally approximate fair value. Other repurchase agreements are based on quoted market prices if available. If market prices are not available, for certain fixed and adjustable rate repurchase agreements, then quoted market prices of similar instruments are used.
Subordinated debt and junior subordinated debt: The fair value of subordinated debt is determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. These securities are classified within level 2 in the fair value hierarchy. Due to the pooled nature of junior subordinated debt owed to unconsolidated subsidiary trusts, which are not actively traded, estimated fair value is determined by using comparable corporate bond indices and swap rates from the financial services sector and factoring in the applicable credit spreads and optional early redemption provisions.
Accrued interest payable: The carrying amount of accrued interest payable approximates its fair value.
Off-balance sheet financial instruments: Off-balance sheet financial instruments consist of commitments to extend credit, including letters of credit. Fair values for commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counterparties. The estimated fair value of the commitments to extend credit and letters of credit are insignificant and therefore are not presented in the above tables.
NOTE 9. REVENUE RECOGNITION
Interest income, net securities gains and bank-owned life insurance are not in scope of ASC 606, "Revenue from Contracts with Customers." For the revenue streams in scope of ASC 606 - trust fees, service charges on deposits, net securities brokerage revenue, payment processing fees, digital banking income, net swap fee and valuation income, mortgage banking income and net gain on OREO and other assets – there are no significant judgments related to the amount and timing of revenue recognition.
The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for thethree and nine months ended September 30, 2026 and 2025, respectively:
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