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Goodwill and Other Intangible Assets
9 Months Ended
Sep. 30, 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 September 30, 2025 and December 31, 2024, respectively, all of which relates to the Community Banking segment. Wesbanco’s other intangible assets of $157.9 million and $27.3 million at September 30, 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 2025 are specific to the PFC acquisition, which contributed $481.4 million in goodwill and $145.6 million in core deposit intangibles in its Community Banking segment, as well as $6.9 million in customer list intangibles in its Trust and Investment Services segment. Amortization of core deposit and customer list intangible assets totaled $8.4 million and $2.1 million for the three months ended September 30, 2025 and 2024, respectively, and $21.9 million and $6.2 million for the nine months ended September 30, 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 September 30, 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 September 30, 2025.

The following table shows Wesbanco’s capitalized other intangible assets and related accumulated amortization:

 

 

 

September 30,

 

 

December 31,

 

(unaudited, in thousands)

 

2025

 

 

2024

 

Other intangible assets:

 

 

 

 

 

 

Gross carrying amount

 

$

250,759

 

 

$

98,271

 

Accumulated amortization

 

 

(92,869

)

 

 

(71,016

)

Net carrying amount of other intangible assets

 

$

157,890

 

 

$

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 September 30, 2025 (unaudited, in thousands):

 

Year

 

Amount

 

2025

 

$

8,790

 

2026

 

 

30,116

 

2027

 

 

25,933

 

2028

 

 

21,745

 

2029

 

 

16,956

 

2030 and thereafter

 

 

54,350

 

Total

 

$

157,890