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Business Segments | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Business Segments | NOTE 14. BUSINESS SEGMENTS Wesbanco operates two reportable segments: community banking and trust and investment services. Wesbanco’s community banking segment offers a wide range of banking products and services through various delivery channels and business units, including commercial demand, individual demand and time deposit accounts; commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services. For purposes of determining the community banking reportable segment, these lines of business are aggregated, in accordance with the review of the CODM. The trust and investment services segment offers trust services as well as various alternative investment products, including mutual funds, and also serves as investment adviser to a family of mutual funds called the “WesMark Funds.” The fund family is comprised of the WesMark Large Company Fund, the WesMark Balanced Fund, the WesMark Small Company Fund, the WesMark Government Bond Fund, the WesMark West Virginia Municipal Bond Fund, and the WesMark Tactical Opportunity Fund. Corporate support functions, which are generally all attributable to the parent company, do not represent a reportable segment and are presented within Corporate Other for purposes of reconciling to the consolidated financials. All of Wesbanco’s revenue is derived from domestic operations, and Wesbanco has no major customers providing greater than 10% of total segment revenue. Wesbanco’s CODM is its President and Chief Executive Officer. The CODM uses net income as the reported measure of segment profit or loss in making business decisions regarding reinvestment into the Company’s segments, using profits for acquisitions and/or paying dividends to shareholders. In addition, net income is used to monitor budget versus actual results, to perform competitive analysis by benchmarking to peers and as a factor to establish compensation for certain employees. Wesbanco does not have any material intra-entity sales or transfers. The market value of trust assets totaled approximately $7.0 billion and $5.6 billion at March 31, 2025 and 2024, respectively. These assets are held by Wesbanco in fiduciary or agency capacities and are not included as assets on Wesbanco’s Consolidated Balance Sheets. Therefore, substantially all of Wesbanco’s assets are attributable to the community banking segment. The following tables present selected financial information with respect to Wesbanco’s business segments for the three months ended March 31, 2025 and 2024 as received and reviewed on a regular basis by the CODM:
(in thousands) |  | Community Banking |  |  | Trust and Investment Services |  |  | Corporate Other |  |  | Totals |
For The Three Months Ended March 31, 2025: |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 253,232 |  |  | $ | — |  |  | $ | — |  |  |  |
Less: Interest expense (1) |  |  | 89,649 |  |  |  | 935 |  |  |  | 4,129 |  |  |  |
Net interest income |  |  | 163,583 |  |  |  | (935 | ) |  |  | (4,129 | ) |  |  |
Less: Provision for credit losses |  |  | 68,883 |  |  |  | — |  |  |  | — |  |  |  |
Net interest income after provision for credit losses |  |  | 94,700 |  |  |  | (935 | ) |  |  | (4,129 | ) |  |  |
Non-interest income: |  |  |  |  |  |  |  |  |  |  |  |
Trust fees |  |  | — |  |  |  | 6,673 |  |  |  | — |  |  |  |
WesMark fees |  |  | — |  |  |  | 2,024 |  |  |  | — |  |  |  |
Service charges on deposits |  |  | 8,587 |  |  |  | — |  |  |  | — |  |  |  |
Digital banking income |  |  | 5,404 |  |  |  | — |  |  |  | — |  |  |  |
Net swap fee and valuation income |  |  | 961 |  |  |  | — |  |  |  | — |  |  |  |
Net securities brokerage revenue |  |  | 2,701 |  |  |  | — |  |  |  | — |  |  |  |
Net insurance services revenue |  |  | 955 |  |  |  | — |  |  |  | — |  |  |  |
Bank-owned life insurance |  |  | 3,428 |  |  |  | — |  |  |  | — |  |  |  |
Payment processing fees |  |  | 891 |  |  |  | — |  |  |  | — |  |  |  |
Net securities losses |  |  | (318 | ) |  |  | — |  |  |  | — |  |  |  |
Net loss on other real estate owned and other assets |  |  | (40 | ) |  |  | — |  |  |  | — |  |  |  |
Mortgage banking income |  |  | 1,140 |  |  |  | — |  |  |  | — |  |  |  |
Other income |  |  | 2,250 |  |  |  | — |  |  |  | 9 |  |  |  |
Total revenues |  | $ | 120,659 |  |  | $ | 7,762 |  |  | $ | (4,120 | ) |  | $ | 124,301 |
Less (2): |  |  |  |  |  |  |  |  |  |  |  |
Salaries and wages |  |  | 46,615 |  |  |  | 1,962 |  |  |  | — |  |  |  |
Employee benefits |  |  | 12,490 |  |  |  | 480 |  |  |  | — |  |  |  |
Net occupancy (3) |  |  | 7,721 |  |  |  | 57 |  |  |  | — |  |  |  |
Equipment and software (4) |  |  | 12,993 |  |  |  | 57 |  |  |  | — |  |  |  |
Miscellaneous taxes |  |  | 4,233 |  |  |  | 1 |  |  |  | — |  |  |  |
Professional services |  |  | 3,655 |  |  |  | 138 |  |  |  | 1,825 |  |  |  |
Marketing |  |  | 2,362 |  |  |  | 20 |  |  |  | — |  |  |  |
FDIC insurance |  |  | 4,187 |  |  |  | — |  |  |  | — |  |  |  |
Supplies |  |  | 1,685 |  |  |  | 53 |  |  |  | — |  |  |  |
Telecommunications |  |  | 1,210 |  |  |  | — |  |  |  | — |  |  |  |
General administration |  |  | 1,370 |  |  |  | 28 |  |  |  | 130 |  |  |  |
Merger-related and restructuring |  |  | 13,691 |  |  |  | — |  |  |  | 6,319 |  |  |  |
Amortization of intangibles |  |  | 4,183 |  |  |  | 40 |  |  |  | — |  |  |  |
Corporate overhead expenses (5) |  |  | — |  |  |  | 1,580 |  |  |  | — |  |  |  |
Other segment items (6) |  |  | 4,886 |  |  |  | 31 |  |  |  | (36 | ) |  |  |
Segment (loss) profit before provision for income taxes |  |  | (622 | ) |  |  | 3,315 |  |  |  | (12,358 | ) |  |  |
Provision for income taxes |  |  | 109 |  |  |  | 696 |  |  |  | (1,478 | ) |  |  |
Segment (loss) profit |  | $ | (731 | ) |  | $ | 2,619 |  |  | $ | (10,880 | ) |  | $ | (8,992 | )
Reconciliation of segment (loss) profit |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  |  |  |  |  |  |  |  |  |  | (2,531 | )
Net loss available to common shareholders |  |  |  |  |  |  |  |  |  |  | $ | (11,523 | )
(1) Within Corporate other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (3) Includes depreciation and amortization expense of $1.9 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial. (4) Includes depreciation and amortization expense of $2.4 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial. (5) Corporate overhead expenses allocated to the trust and investment services segment consist of audit and accounting services, human resources, bank administration and information technology. (6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.
(in thousands) |  | Community Banking |  |  | Trust and Investment Services |  |  | Corporate Other |  |  | Totals |
For The Three Months Ended March 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 195,333 |  |  | $ | — |  |  | $ | — |  |  |  |
Less: Interest expense (1) |  |  | 76,264 |  |  |  | 1,028 |  |  |  | 4,075 |  |  |  |
Net interest income |  |  | 119,069 |  |  |  | (1,028 | ) |  |  | (4,075 | ) |  |  |
Less: Provision for credit losses |  |  | 4,014 |  |  |  | — |  |  |  | — |  |  |  |
Net interest income after provision for credit losses |  |  | 115,055 |  |  |  | (1,028 | ) |  |  | (4,075 | ) |  |  |
Non-interest income: |  |  |  |  |  |  |  |  |  |  |  |
Trust fees |  |  | — |  |  |  | 6,099 |  |  |  | — |  |  |  |
WesMark fees |  |  | — |  |  |  | 1,983 |  |  |  | — |  |  |  |
Service charges on deposits |  |  | 6,784 |  |  |  | — |  |  |  | — |  |  |  |
Digital banking income |  |  | 4,704 |  |  |  | — |  |  |  | — |  |  |  |
Net swap fee and valuation income |  |  | 1,563 |  |  |  | — |  |  |  | — |  |  |  |
Net securities brokerage revenue |  |  | 2,548 |  |  |  | — |  |  |  | — |  |  |  |
Net insurance services revenue |  |  | 944 |  |  |  | — |  |  |  | — |  |  |  |
Bank-owned life insurance |  |  | 2,067 |  |  |  | — |  |  |  | — |  |  |  |
Payment processing fees |  |  | 829 |  |  |  | — |  |  |  | — |  |  |  |
Net securities gains |  |  | 537 |  |  |  | — |  |  |  | — |  |  |  |
Net gain on other real estate owned and other assets |  |  | 154 |  |  |  | — |  |  |  | — |  |  |  |
Mortgage banking income |  |  | 693 |  |  |  | — |  |  |  | — |  |  |  |
Other income |  |  | 1,724 |  |  |  | — |  |  |  | — |  |  |  |
Total revenues |  | $ | 137,602 |  |  | $ | 7,054 |  |  | $ | (4,075 | ) |  | $ | 140,581 |
Less (2): |  |  |  |  |  |  |  |  |  |  |  |
Salaries and wages |  |  | 41,145 |  |  |  | 1,852 |  |  |  | — |  |  |  |
Employee benefits |  |  | 11,700 |  |  |  | 484 |  |  |  | — |  |  |  |
Net occupancy (3) |  |  | 6,571 |  |  |  | 52 |  |  |  | — |  |  |  |
Equipment and software (4) |  |  | 10,001 |  |  |  | 7 |  |  |  | — |  |  |  |
Miscellaneous taxes |  |  | 3,159 |  |  |  | 3 |  |  |  | — |  |  |  |
Professional services |  |  | 3,004 |  |  |  | 76 |  |  |  | 1,922 |  |  |  |
Marketing |  |  | 1,870 |  |  |  | 15 |  |  |  | — |  |  |  |
FDIC insurance |  |  | 3,448 |  |  |  | — |  |  |  | — |  |  |  |
Supplies |  |  | 1,296 |  |  |  | 42 |  |  |  | — |  |  |  |
Telecommunications |  |  | 1,263 |  |  |  | — |  |  |  | — |  |  |  |
General administration |  |  | 1,360 |  |  |  | 33 |  |  |  | 25 |  |  |  |
Merger-related and restructuring |  |  | — |  |  |  | — |  |  |  | — |  |  |  |
Amortization of intangibles |  |  | 2,044 |  |  |  | 48 |  |  |  | — |  |  |  |
Corporate overhead expenses (5) |  |  | — |  |  |  | 1,523 |  |  |  | — |  |  |  |
Other segment items (6) |  |  | 4,224 |  |  |  | 60 |  |  |  | (36 | ) |  |  |
Segment profit (loss) before provision for income taxes |  |  | 46,517 |  |  |  | 2,859 |  |  |  | (5,986 | ) |  |  |
Provision for income taxes |  |  | 8,425 |  |  |  | 600 |  |  |  | (1,328 | ) |  |  |
Segment profit (loss) |  | $ | 38,092 |  |  | $ | 2,259 |  |  | $ | (4,658 | ) |  | $ | 35,693 |
Reconciliation of segment profit (loss) |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  |  |  |  |  |  |  |  |  |  | (2,531 | )
Net income available to common shareholders |  |  |  |  |  |  |  |  |  |  | $ | 33,162 |
(1) Within Corporate other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (3) Includes depreciation and amortization expense of $1.7 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial. (4) Includes depreciation and amortization expense of $2.1 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial. (5) Corporate overhead expenses allocated to the trust and investment services segment consist of audit and accounting services, human resources, bank administration and information technology. (6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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