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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Non-interest Expense
Table 36: Non-Interest Expense
| For the Three Months Ended September 30, | For the Nine MonthsEnded September 30, | |||||||
|---|---|---|---|---|---|---|---|---|
| (unaudited, dollars in thousands) | 2026 | 2025 | $ Change | % Change | 2026 | 2025 | $ Change | % Change |
| Salaries and wages | $69,079 | $60,583 | $8,496 | 14.0 | $199,444 | $169,314 | $30,130 | 17.8 |
| Employee benefits | 14,853 | 18,040 | (3,187) | (17.7) | 51,613 | 49,867 | 1,746 | 3.5 |
| Net occupancy | 7,927 | 8,819 | (892) | (10.1) | 24,320 | 24,716 | (396) | (1.6) |
| Equipment and software | 15,613 | 16,310 | (697) | (4.3) | 46,930 | 46,500 | 430 | 0.9 |
| Marketing | 4,965 | 2,979 | 1,986 | 66.7 | 8,763 | 7,225 | 1,538 | 21.3 |
| FDIC insurance | 4,631 | 5,820 | (1,189) | (20.4) | 13,582 | 15,487 | (1,905) | (12.3) |
| Amortization of intangible assets | 7,122 | 8,425 | (1,303) | (15.5) | 21,423 | 21,853 | (430) | (2.0) |
| Restructuring and merger-related expenses | 730 | 11,383 | (10,653) | (93.6) | 5,446 | 72,449 | (67,003) | (92.5) |
| Professional fees | 7,355 | 6,802 | 553 | 8.1 | 21,307 | 19,055 | 2,252 | 11.8 |
| Franchise and other miscellaneous taxes | 4,999 | 4,934 | 65 | 1.3 | 14,568 | 14,229 | 339 | 2.4 |
| ATM and electronic banking interchange expenses | 1,942 | 1,524 | 418 | 27.4 | 5,589 | 3,909 | 1,680 | 43.0 |
| Communications | 1,046 | 1,533 | (487) | (31.8) | 3,353 | 4,284 | (931) | (21.7) |
| Other real estate owned and foreclosure expenses | 300 | 28 | 272 | NM | 939 | 345 | 594 | NM |
| Postage, supplies and other | 10,305 | 9,008 | 1,297 | 14.4 | 29,379 | 27,456 | 1,923 | 7.0 |
| Total non-interest expense | $150,867 | $156,188 | $(5,321) | (3.4) | $446,656 | $476,689 | $(30,033) | (6.3) |
*NM = Not Meaningful
Non-interest expense in the third quarter of 2026 decreased $5.3 million, or 3.4%, compared to the same quarter in 2025, primarily driven by decreases in restructuring and merger-related expenses, employee benefits, amortization of intangible assets, and FDIC insurance, partially offset by an increase in salaries and wages, marketing, and postage, supplies and other.
Salaries and wages increased $8.5 million, or 14.0%, in the third quarter of 2026 compared to the third quarter of 2025, and $30.1 million, or 17.8%, in the first nine months of 2026 compared to the same period in 2025. In both comparisons, the increase was primarily due to hiring efforts in Florida and Nashville, and mid-year merit increases.
Employee benefits decreased $3.2 million, or 17.7%, in the third quarter of 2026 compared to the third quarter of 2025, reflecting a reduction in deferred compensation expense and a year-to-date catch-up refund from our employee healthcare prescription plan. Employee benefits increased $1.7 million, or 3.5%, in the first nine months of 2026 compared to the same period in 2025 due primarily to the timing of employer payroll tax contributions.
Marketing increased $2.0 million in the third quarter of 2026 compared to the third quarter of 2025, primarily due to an increase in advertising in support of our new expansion markets and timing of other marketing campaigns. Marketing increased $1.5 million in the first nine months of 2026 compared to the same period in 2025 due primarily to the same reasons as noted above for the quarter.
FDIC insurance decreased $1.2 million, or 20.4%, in the third quarter of 2026 compared to the third quarter of 2025, due to a lower assessment rate associated with our improved financial ratios. Similarly, FDIC insurance decreased $1.9 million, or 12.3%, in the first nine months of 2026 compared to the first nine months of 2025.
Amortization of intangible assets decreased $1.3 million, or 15.5%, in the third quarter of 2026 compared to the third quarter of 2025 due to the core deposit intangible asset that was created from the acquisition of PFC in the prior year. Similarly, amortization of intangible assets decreased $0.4 million, or 2.0%, in the first nine months of 2026 compared to the same period in 2025.
Restructuring and merger-related expenses decreased $10.7 million in the third quarter of 2026 compared to the third quarter of 2025, primarily due to expenses incurred in the third quarter of 2025 for financial center optimization and to a lesser extent, additional expenses incurred for the acquisition of PFC. For the nine months ended September 30, 2026, restructuring and merger-related expenses decreased $67.0 million from the same period in 2025 due to the expenses incurred from the acquisition of PFC.
FINANCIAL CONDITION
Total assets increased 2.8% at September 30, 2026 compared to December 31, 2025 primarily due to commercial loan growth. Total liabilities increased 3.0% from December 31, 2025 reflecting higher interest bearing demand and savings deposit balances and an increase in FHLB borrowings, partially offset by a decrease in certificates of deposit. Total shareholders' equity increased 1.3% compared to December 31, 2025 primarily due to net income available to common shareholders, partially offset by common and preferred dividends paid and accumulated other comprehensive loss.
SECURITIES
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