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Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Pension Plan

The following table presents the net periodic pension income for Wesbanco’s Defined Benefit Pension Plan (the “Plan”) and the related components:

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

(unaudited, in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Service cost – benefits earned during year

 

$

546

 

 

$

623

 

 

$

1,086

 

 

$

1,239

 

Interest cost on projected benefit obligation

 

 

1,026

 

 

 

852

 

 

 

2,039

 

 

 

1,694

 

Expected return on plan assets

 

 

(2,885

)

 

 

(2,794

)

 

 

(5,738

)

 

 

(5,557

)

Amortization of prior service cost

 

 

(9

)

 

 

(9

)

 

 

(17

)

 

 

(17

)

Amortization of net loss

 

 

126

 

 

 

682

 

 

 

251

 

 

 

1,357

 

Net periodic pension income

 

$

(1,196

)

 

$

(646

)

 

$

(2,379

)

 

$

(1,284

)