XML 33 R26.htm IDEA: XBRL DOCUMENT v3.25.1

Mergers and Acquisitions (Tables)

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Summary of Preliminary Purchase Price of PFC Acquisition and Goodwill

The preliminary purchase price of the PFC acquisition and resulting goodwill is summarized as follows:

(unaudited, in thousands)		February 28, 2025
Purchase price:
Fair value of Wesbanco shares issued		$	1,007,845
Cash consideration for outstanding PFC shares			138
Total purchase price		$	1,007,983
Fair value of:
Tangible assets acquired		$	7,733,099
Core deposit and other intangible assets acquired			151,514
Liabilities assumed			(7,560,522	)
Net cash received in the acquisition			200,495
Fair value of net assets acquired			524,586
Goodwill recognized		$	483,397

Summary of Amounts Recognized for Major Class of Assets Acquired and Liabilities Assumed

The following table presents the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:

(unaudited, in thousands)		February 28, 2025
Total merger consideration					$	1,007,983
Fair value of assets acquired
Cash and due from banks		$	200,495
Equity securities			14,601
Available-for-sale debt securities			1,149,986
Loans held for sale			198,971
Net portfolio loans			5,852,123
Premises and equipment			63,391
Accrued interest receivable			33,822
Intangible assets			151,514
Bank-owned life insurance			186,736
Deferred taxes			99,178
Other assets			134,291
Total assets acquired		$	8,085,108
Fair value of liabilities assumed
Deposits		$	6,873,447
FHLB borrowings			502,028
Subordinated debt and junior subordinated debt			80,606
Accrued interest payable			3,620
Other liabilities			100,821
Total liabilities assumed		$	7,560,522
Net assets acquired					$	524,586
Goodwill					$	483,397

Summary of Purchased Credit Deteriorated Loans

The PCD loans are summarized in the following table:

(unaudited, in thousands)
Amortized cost of acquired PCD loans		$	220,218
Allowance on PCD at acquisition			(29,069	)
Non-credit discount on PCD			(14,092	)
Fair value price of PCD loans		$	177,057

Summary of Unaudited Pro Forma Information

As a result, actual amounts differed from the unaudited pro forma information presented.

		For the Three Months Ended March 31,
(unaudited, in thousands)		2025 (1)				2024 (2)
Net interest income		$	202,271			$	188,473
Non interest income			45,324				43,125
Net income		$	70,734			$	58,560

(1) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $7.9 million for the three months ended March 31, 2025.

(2) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $14.2 million for the three months ended March 31, 2024.

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of purchased credit deteriorated loans.

+ References

No definition available.

+ Details

Name:	wsbc_ScheduleOfPurchasedCreditDeterioratedLoansTableTextBlock
Namespace Prefix:	wsbc_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration