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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS Wesbanco’s Consolidated Balance Sheets include goodwill of $1.6 billion and $1.1 billion as of March 31, 2025 and December 31, 2024, all of which relates to the Community Banking segment. Wesbanco’s other intangible assets of $174.5 million and $27.3 million at March 31, 2025 and December 31, 2024, respectively, primarily consist of core deposit and other customer list intangibles, which have finite lives and are amortized using straight line and accelerated methods. Other intangible assets are being amortized over estimated useful lives ranging from ten to sixteen years. The increases to goodwill and other intangible assets in the first quarter of 2025 are specific to the PFC acquisition, which contributed $483.4 million in goodwill and $151.5 million in other intangible assets. Amortization of core deposit and customer list intangible assets totaled $4.2 million and $2.1 million for the three months ended March 31, 2025 and 2024, respectively. Wesbanco completed its annual quantitative goodwill impairment evaluation as of November 30, 2024, and concluded that there were no indications of impairment. In addition, as there were no significant changes in market conditions, consolidated operating results or forecasted future results after November 30, 2024, it was concluded that at both December 31, 2024 and March 31, 2025, there were also no indications of impairment. Additionally, there were no events or changes in circumstances indicating impairment of other intangible assets as of December 31, 2024 and March 31, 2025. The following table shows Wesbanco’s capitalized other intangible assets and related accumulated amortization:
|  | March 31, |  |  | December 31, |
(unaudited, in thousands) |  | 2025 |  |  | 2024 |
Other intangible assets: |  |  |  |  |  |
Gross carrying amount |  | $ | 249,785 |  |  | $ | 98,271 |
Accumulated amortization |  |  | (75,240 | ) |  |  | (71,016 | )
Net carrying amount of other intangible assets |  | $ | 174,545 |  |  | $ | 27,255 |
The following table shows the amortization on Wesbanco’s other intangible assets for each of the next five years, and in the aggregate thereafter, as of March 31, 2025 (unaudited, in thousands):
Year |  | Amount |
2025 |  | $ | 26,508 |
2026 |  |  | 30,556 |
2027 |  |  | 25,912 |
2028 |  |  | 21,676 |
2029 |  |  | 16,859 |
2030 and thereafter |  |  | 53,034 |
Total |  | $ | 174,545 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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