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Mergers and Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination [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 |  | $ | 7,735,477 |
Core deposit and other intangible assets acquired |  |  | 152,488 |
Liabilities assumed |  |  | (7,561,996 | )
Net cash received in the acquisition |  |  | 200,592 |
Fair value of net assets acquired |  |  | 526,561 |
Goodwill recognized |  | $ | 481,422 |
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 |  | $ | 200,592 |  |  |
Equity securities |  |  | 14,601 |  |  |
Available-for-sale debt securities |  |  | 1,149,980 |  |  |
Loans held for sale |  |  | 169,607 |  |  |
Net portfolio loans |  |  | 5,890,376 |  |  |
Premises and equipment |  |  | 59,046 |  |  |
Accrued interest receivable |  |  | 35,682 |  |  |
Intangible assets |  |  | 152,488 |  |  |
Bank-owned life insurance |  |  | 186,736 |  |  |
Deferred taxes |  |  | 96,398 |  |  |
Other assets |  |  | 133,051 |  |  |
Total assets acquired |  | $ | 8,088,557 |  |  |
Fair value of liabilities assumed |  |  |  |  |
Deposits |  | $ | 6,873,339 |  |  |
FHLB borrowings |  |  | 502,028 |  |  |
Subordinated debt and junior subordinated debt |  |  | 80,606 |  |  |
Accrued interest payable |  |  | 3,620 |  |  |
Other liabilities |  |  | 102,403 |  |  |
Total liabilities assumed |  | $ | 7,561,996 |  |  |
Net assets acquired |  |  |  | $ | 526,561 |
Goodwill |  |  |  | $ | 481,422 |
Schedule of Changes in Purchase Price of Assets Acquired and The Liabilities Assumed | The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of June 30, 2025:
(unaudited, in thousands) |  | February 28, 2025 |
Goodwill recognized as of June 30, 2025 |  | $ | 476,175 |
Change in fair value of net assets acquired: |  |  |
Assets |  |  |
Loans held for sale |  |  | (1,345 | )
Net portfolio loans |  |  | 1,410 |
Intangible assets |  |  | (5,918 | )
Deferred tax assets |  |  | (1,416 | )
Accrued income and other assets |  |  | 2,592 |
Liabilities |  |  |
Deposits |  |  | 108 |
Accrued expenses and other liabilities |  |  | (678 | )
Total change in fair value of net assets acquired |  | $ | (5,247 | )
Increase in goodwill recognized |  |  | 5,247 |
Goodwill recognized as of September 30, 2025 |  | $ | 481,422 |
The fair value estimates for loans, deferred taxes, other assets and other liabilities have continued to fluctuate as the final valuations and reclassifications are completed. The Company expects to finalize the fair values and corresponding goodwill balance within one year of the date of the acquisition.
Summary of Purchased Credit Deteriorated Loans | The PCD loans are summarized in the following table:
(unaudited, in thousands) |  |  |
Amortized cost of acquired PCD loans |  | $ | 247,641 |
Allowance on PCD at acquisition (1) |  |  | (22,226 | )
Non-credit discount on PCD |  |  | (19,453 | )
Fair value price of PCD loans |  | $ | 205,962 |
(1) The allowance on PCD loans at acquisition date increased $2.0 million as compared to what was previously reported due to the refinements of certain individually-evaluated credits in the allowance calculation.
Summary of Unaudited Pro Forma Information | As a result, actual amounts differed from the unaudited pro forma information presented.
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
(unaudited, in thousands) |  | 2025 (1) |  |  | 2024 (2) |  |  | 2025 (3) |  |  | 2024 (4) |
Net interest income |  | $ | 201,276 |  |  | $ | 190,033 |  |  | $ | 606,049 |  |  | $ | 565,565 |
Non-interest income |  |  | 45,324 |  |  |  | 42,186 |  |  |  | 135,972 |  |  |  | 128,744 |
Net income |  | $ | 70,110 |  |  | $ | 60,745 |  |  | $ | 212,085 |  |  | $ | 179,847 |
(1) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $7.3 million for the three months ended September 30, 2025. (2) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $9.3 million for the three months ended September 30, 2024. (3) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $23.7 million for the nine months ended September 30, 2025. (4) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $34.9 million for the nine months ended September 30, 2024.

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