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Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis

The fair value amounts presented in the table below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The following tables set forth Wesbanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2025 and December 31, 2024:


			September 30, 2025
			Fair Value Measurements Using:
	September 30,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(unaudited, in thousands)	2025		(level 1)		(level 2)		(level 3)
Recurring fair value measurements
Equity securities	$	30,374	$	30,374	$	—	$	—
Available-for-sale debt securities
U.S. Treasury		195,916		195,916				—
U.S. Government sponsored entities and agencies		220,290		—		220,290		—
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		2,500,825		—		2,500,825		—
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		142,837		—		142,837		—
Asset backed securities		70,760		—		70,760		—
Obligations of states and political subdivisions		77,228		—		74,508		2,720
Corporate debt securities		60,160		—		60,160		—
Total available-for-sale debt securities	$	3,268,016	$	195,916	$	3,069,380	$	2,720
Loans held for sale		125,971		—		125,971		—
Other assets - interest rate swaps		65,321		—		65,321		—
Total assets recurring fair value measurements	$	3,489,682	$	226,290	$	3,260,672	$	2,720
Other liabilities - interest rate swaps	$	66,886	$	—	$	66,886	$	—
Total liabilities recurring fair value measurements	$	66,886	$	—	$	66,886	$	—
Nonrecurring fair value measurements
Collateral dependent loans	$	30,141	$	—	$	—	$	30,141
Other real estate owned and repossessed assets		997		—		—		997
Total nonrecurring fair value measurements	$	31,138	$	—	$	—	$	31,138


			December 31, 2024
			Fair Value Measurements Using:
	December 31,		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	2024		(level 1)		(level 2)		(level 3)
Recurring fair value measurements
Equity securities	$	13,427	$	13,427	$	—	$	—
Available-for-sale debt securities
U.S. Treasury		146,113		146,113		—		—
U.S. Government sponsored entities and agencies		194,242		—		194,242		—
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		1,593,441		—		1,593,441		—
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		231,782		—		231,782		—
Obligations of states and political subdivisions		68,620		—		67,536		1,084
Corporate debt securities		11,874		—		11,874		—
Total available-for-sale debt securities	$	2,246,072	$	146,113	$	2,098,875	$	1,084
Loans held for sale		18,695		—		18,695		—
Other assets - interest rate swaps		72,343		—		72,343		—
Total assets recurring fair value measurements	$	2,350,537	$	159,540	$	2,189,913	$	1,084
Other liabilities - interest rate swaps	$	72,204	$	—	$	72,204	$	—
Total liabilities recurring fair value measurements	$	72,204	$	—	$	72,204	$	—
Nonrecurring fair value measurements
Collateral dependent loans	$	17,525	$	—	$	—	$	17,525
Other real estate owned and repossessed assets		852		—		—		852
Total nonrecurring fair value measurements	$	18,377	$	—	$	—	$	18,377

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Wesbanco has utilized level 3 inputs to determine fair value:


	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable	Range (Weighted
(unaudited, in thousands)	Estimate		Techniques	Input	Average)
September 30, 2025
Collateral dependent loans	$	30,141	Appraisal of collateral (1)	Appraisal adjustments (2)	0.0%-(20.8%) / (5.6%)
				Liquidation expenses (2)	(6.3%)-(8.0%) / (7.5%)
Other real estate owned and repossessed assets	$	997	Appraisal of collateral (1), (3)
December 31, 2024
Collateral dependent loans	$	17,525	Appraisal of collateral (1)	Appraisal adjustments (2)	(0.0%)/(0.0%)
				Liquidation expenses (2)	(8.0%)/(8.0%)
Other real estate owned and repossessed assets	$	852	Appraisal of collateral (1), (3)

(1)

Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs, which are not identifiable.

(2)

Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expense are presented as a percent of the appraisal.

(3)

Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management, which are not identifiable.

Estimates Fair Values of Financial Instruments

The estimated fair values of Wesbanco’s financial instruments are summarized below:


					Fair Value Measurements at
					September 30, 2025
	Carrying		Fair Value		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(unaudited, in thousands)	Amount		Estimate		(level 1)		(level 2)		(level 3)
Financial Assets
Cash and due from banks	$	1,008,237	$	1,008,237	$	1,008,237	$	—	$	—
Equity securities		30,374		30,374		30,374		—		—
Available-for-sale debt securities		3,268,016		3,268,016		—		3,265,464		2,552
Net held-to-maturity debt securities		1,150,339		1,042,503		—		1,042,334		169
Net loans		18,714,408		18,296,204		—		—		18,296,204
Loans held for sale		125,971		125,971		—		125,971		—
Other assets - interest rate derivatives		65,321		65,321		—		65,321		—
Accrued interest receivable		108,865		108,865		108,865		—		—

Financial Liabilities
Deposits		21,284,262		21,270,683		18,353,894		2,916,789		—
Federal Home Loan Bank borrowings		1,275,000		1,275,984		—		1,275,984		—
Other borrowings		113,501		109,214		109,214		—		—
Subordinated debt and junior subordinated debt		358,373		352,051		—		352,051		—
Other liabilities - interest rate derivatives		66,886		66,886		—		66,886		—
Accrued interest payable		25,472		25,472		25,472		—		—


					Fair Value Measurements at
					December 31, 2024
	Carrying		Fair Value		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Amount		Estimate		(level 1)		(level 2)		(level 3)
Financial Assets
Cash and due from banks	$	568,137	$	568,137	$	568,137	$	—	$	—
Equity securities		13,427		13,427		13,427		—		—
Available-for-sale debt securities		2,246,072		2,246,072		—		2,244,988		1,084
Net held-to-maturity debt securities		1,152,760		1,006,817		—		1,006,617		200
Net loans		12,517,663		12,042,064		—		—		12,042,064
Loans held for sale		18,695		18,695		—		18,695		—
Other assets - interest rate derivatives		72,343		72,343		—		72,343		—
Accrued interest receivable		78,324		78,324		78,324		—		—

Financial Liabilities
Deposits		14,133,717		14,121,315		12,406,785		1,714,530		—
Federal Home Loan Bank borrowings		1,000,000		1,000,371		—		1,000,371		—
Other borrowings		192,073		180,372		180,372		—		—
Subordinated debt and junior subordinated debt		279,308		262,101		—		262,101		—
Other liabilities - interest rate derivatives		72,204		72,204		—		72,204		—
Accrued interest payable		14,228		14,228		14,228		—		—