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Benefit Plans (Tables)
9 Months Ended
Sep. 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 September 30,

 

 

For the Nine Months
Ended September 30,

 

(unaudited, in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Service cost – benefits earned during year

 

$

552

 

 

$

630

 

 

$

1,638

 

 

$

1,869

 

Interest cost on projected benefit obligation

 

 

1,037

 

 

 

861

 

 

 

3,076

 

 

 

2,555

 

Expected return on plan assets

 

 

(2,917

)

 

 

(2,825

)

 

 

(8,655

)

 

 

(8,382

)

Amortization of prior service cost

 

 

(9

)

 

 

(9

)

 

 

(26

)

 

 

(26

)

Amortization of net loss

 

 

128

 

 

 

690

 

 

 

379

 

 

 

2,047

 

Net periodic pension income

 

$

(1,209

)

 

$

(653

)

 

$

(3,588

)

 

$

(1,937

)