WesBanco Announces Second Quarter 2025 Financial Results

Highlighted by a net interest margin of 3.59% and successful customer data systems conversion of Premier Financial

Wheeling, WVa. (July 29, 2025) – WesBanco, Inc. (“WesBanco” or “Company”) (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three months ended June 30, 2025. Net income available to common shareholders for the second quarter of 2025 was $54.9 million, with diluted earnings per share of $0.57, compared to $26.4 million and $0.44 per diluted share, respectively, for the second quarter of 2024. For the six months ended June 30, 2025, net income was $43.4 million, or $0.50 per diluted share, which reflected the impact of a day one provision for credit losses and other expenses related to the closing of the Premier Financial Corp. (“PFC”) acquisition on February 28th, compared to $59.5 million, or $1.00 per diluted share, for the 2024 period.

As noted below, WesBanco reported $0.91 of earnings per diluted share, in the second quarter, as compared to $0.49 in the prior year period, when excluding after-tax restructuring and merger-related expenses (non-GAAP measures). On a similar basis and excluding the after-tax day one provision for credit losses on acquired loans, WesBanco reported $1.60 per diluted share, for the six month period, as compared to $1.05 per diluted share last year (non-GAAP measures).

	For the Three Months Ended June 30.								For the Six Months Ended June 30,
	2025				2024				2025				2024
(unaudited, dollars in thousands, except per share amounts)	Net Income		Diluted Earnings Per Share		Net Income		Diluted Earnings Per Share		Net Income		Diluted Earnings Per Share		Net Income		Diluted Earnings Per Share
Net income available to common shareholders (GAAP)	$	54,884	$	0.57	$	26,385	$	0.44	$	43,360	$	0.50	$	59,546	$	1.00
Add: After-tax day one provision for credit losses on acquired loans		-		-		-		-		46,926		0.56		-		-
Add: After-tax restructuring and merger-related expenses		32,434		0.34		2,984		0.05		48,242		0.54		2,984		0.05
Adjusted net income available to common shareholders (Non-GAAP)(1)	$	87,318	$	0.91	$	29,369	$	0.49	$	138,528	$	1.60	$	62,530	$	1.05
(1) See non-GAAP financial measures for additional information relating to the calculation of these items.

Financial and operational highlights during the quarter ended June 30, 2025:

•Successfully converted the customer data systems for the bank and trust department of PFC

•Total loan growth was 3.3% annualized over the sequential quarter reflecting the strength of WesBanco’s new and legacy markets

oReflecting $5.9 billion of loans from PFC and organic growth of 5.5%, total loans increased 53.6% year-over-year to $18.8 billion

•Reflecting $6.9 billion of deposits from PFC and organic growth of 6.3%, total deposits increased 57.5% year-over-year to $21.2 billion

oAverage loans to average deposits were 89.5%, providing continued capacity to fund loan growth

•Net interest margin of 3.59% increased 24 basis points sequentially, as PFC benefited the margin by approximately 37 basis points through interest mark accretion, the first quarter’s securities restructuring, and lower funding costs

•Reflecting the PFC acquisition, market appreciation, and organic growth, WesBanco Trust and Investment Services assets under management increased to a record $7.2 billion and broker-dealer securities account values (including annuities) increased to a record $2.6 billion

•Efficiency ratio of 55.5% improved more than 10 percentage points year-over-year and 3 percentage points sequentially due to the benefits of the PFC acquisition, as well as a continued focus on expense management and driving positive operating leverage

•Key credit quality metrics continued to remain at low levels and favorable to peer bank averages (based upon the prior four quarters for banks with total assets between $20 billion and $50 billion)

“Our second quarter results demonstrate the success of our acquisition of Premier and strong operational performance. Our larger organization delivered solid sequential quarter loan growth while driving positive operating leverage. We also meaningfully improved both our net interest margin and efficiency ratio, further demonstrating our focus on operational excellence for our shareholders,” said Jeff Jackson, President and Chief Executive Officer, WesBanco. “We marked another significant milestone this quarter as we successfully transitioned approximately 400,000 consumer and 50,000 business relationships, along with the branding and operations of approximately 70 financial centers from Premier to WesBanco. We

are excited by the customer reception and retention and are focused on building even stronger relationships with our new customers, businesses, and communities.”

Balance Sheet

WesBanco’s balance sheet, as of June 30, 2025, reflects both the PFC acquisition and organic growth. Total assets increased 52.1% year-over-year to $27.6 billion, including total portfolio loans of $18.8 billion and total securities of $4.4 billion. Total portfolio loans increased 53.6% year-over-year due to acquired PFC loans of $5.9 billion and organic growth of $0.7 billion, with $0.6 billion from the commercial teams. Commercial real estate payoffs totaled approximately $170 million during the second quarter of 2025 and $255 million year-to-date.

Deposits of $21.2 billion increased 57.5% year-over-year due to acquired PFC deposits of $6.9 billion and organic growth of $0.8 billion, which fully funded year-over-year organic loan growth. On a sequential quarter basis, total deposits declined $138 million due to normal seasonality and the intentional runoff of higher cost certificates of deposit and less reliance on public funds from PFC. Reflecting the addition of PFC deposits, which included $1.3 billion of certificates of deposit, total demand deposits represented 48% of total deposits, with the non-interest bearing component representing 25%.

Credit Quality

As of June 30, 2025, total loans past due, criticized and classified loans, non-performing loans, and non-performing assets as percentages of the loan portfolio and total assets have remained low, from a historical perspective, and within a consistent range through the last five years. Criticized and classified loans as a percent of total portfolio loans increased 31 points quarter-over-quarter to 3.63% but remain below long-term historical levels.

The allowance for credit losses to total portfolio loans at June 30, 2025 was 1.19% of total loans, or $223.9 million. The decrease of $9.8 million from March 31, 2025 was driven by a reduction in PCD loan reserves from a couple of large payoffs and portfolio mix changes, which more than offset increases associated with slightly higher unemployment assumptions, loan growth, and other loan portfolio adjustments. Excluded from the allowance for credit losses and related coverage ratio are fair market value adjustments on previously acquired loans representing 1.74% of total portfolio loans.

Net Interest Margin and Income

The second quarter margin of 3.59% improved 24 basis points compared to the first quarter and 64 basis points on a year-over-year basis, through a combination of higher loan and securities yields, lower funding costs, and purchase accounting accretion. Deposit funding costs of 246 basis points for the second quarter of 2025 decreased 9 basis points from the first quarter and 28 basis points from the prior year period. When including non-interest bearing deposits, deposit funding costs for the second quarter were 184 basis points. Further, FHLB borrowing costs of 4.22% decreased 30 basis points quarter-over-quarter and 128 basis points year-over-year, as these short-term borrowings repriced downward upon maturity. Purchase accounting accretion benefited the second quarter net interest margin by approximately 37 basis points.

Net interest income for the second quarter of 2025 was $216.8 million, an increase of $100.2 million, or 85.9% year-over-year, reflecting the impact of a larger balance sheet from the PFC acquisition, loan growth, higher loan and securities yields, lower FHLB borrowing costs, and $22.5 million of purchase accounting accretion from acquisitions.For the six months ended June 30, 2025, net interest income of $375.3 million increased $144.7 million, or 62.8%, primarily due to the reasons discussed for the three-month period comparison.

Non-Interest Income

For the second quarter of 2025, non-interest income of $44.0 million increased $12.6 million, or 40.2%, from the second quarter of 2024 due primarily to the acquisition of PFC. Service charges on deposits increased $3.4 million year-over-year, reflecting the addition of PFC, fee income from new products and services and treasury management, and increased general consumer spending. Reflecting record asset levels, trust fees and net securities brokerage revenue increased $2.4 million and $0.7 million, respectively, due to the addition of PFC wealth clients, market value appreciation, and organic growth. Digital banking fees increased $2.3 million from higher volumes primarily associated with our larger customer base. Mortgage Banking income increased $1.3 million due to an approximate 30% year-over-year increase in residential mortgage originations related to seasonality and our larger customer base. Net securities gains increased $1.3 million primarily due to market fluctuations of equity securities in the deferred compensation plan. Gross swap fees were $1.4 million in the second quarter, compared to $1.8 million in the prior year period, while fair value adjustments were a loss of $0.7 million compared to a negligible gain, respectively.

Primarily reflecting the items discussed above, as well as bank-owned life insurance (“BOLI”), non-interest income, for the six months ended June 30, 2025, increased $16.6 million, or 26.8%, year-over-year to $78.6 million. BOLI increased $2.0 million year-over-year due to the addition of PFC and a $0.9 million death benefit received during the first quarter.

Non-Interest Expense

Non-interest expense, excluding restructuring and merger-related costs, for the three months ended June 30, 2025 was $145.5 million, a $46.9 million, or 47.5%, increase year-over-year primarily due to the addition of the PFC expense base associated with approximately 900 employees and 70 financial centers. Employee benefits expense of $18.9 million increased $5.9 million linked quarter due to higher staffing levels, as well as higher deferred compensation expense of $1.5 million, with the offsetting gain located in net securities gains, and higher health insurance costs due to higher staffing levels from PFC, of which approximately $1.0 million is due to the timing of healthcare services and employee behaviors relative to deductibles. Equipment and software expense of $17.1 million, includes the additional cost of operating two core systems until the conversion to one platform in mid-May. Amortization of intangible assets of $9.2 million increased $7.1 million year-over-year due to the core deposit intangible asset that was created from the acquisition of PFC. FDIC insurance expense increased $2.0 million due to our larger asset size. Restructuring and merger-related expenses of $41.1 million are primarily related to costs associated with the systems conversion, severance, and other costs associated with the PFC merger.

Excluding restructuring and merger-related expenses, non-interest expense during the first half of 2025 of $259.4 million increased $63.6 million, or 32.5%, compared to the prior year period, due primarily to the expenses described above.

Capital

WesBanco continues to maintain what we believe are strong regulatory capital ratios, as both consolidated and bank-level regulatory capital ratios are well above the applicable “well-capitalized” standards promulgated by bank regulators and the BASEL III capital standards. In conjunction with the February 28th closing of the PFC acquisition, WesBanco issued 28.7 million shares of common stock to acquire the outstanding shares of PFC, which increased total capital by $1.0 billion and, as anticipated, modestly impacted capital ratios. Reflecting the full quarter average of PFC’s balance sheet, at June 30, 2025, Tier I leverage was 8.66%, Tier I risk-based capital ratio was 10.59%, common equity Tier 1 capital ratio (“CET 1”) was 9.91%, and total risk-based capital was 13.40%. In addition, the tangible common equity to tangible assets ratio was 7.60%.

Conference Call and Webcast

WesBanco will host a conference call to discuss the Company's financial results for the second quarter of 2025 at 9:00 a.m. ET on Wednesday, July 30, 2025. Interested parties can access the live webcast of the conference call through the Investor Relations section of the Company's website, www.wesbanco.com. Participants can also listen to the conference call by dialing 888-347-6607, 855-669-9657 for Canadian callers, or 1-412-902-4290 for international callers, and asking to be joined into the WesBanco call. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection.

A replay of the conference call will be available by dialing 877-344-7529, 855-669-9658 for Canadian callers, or 1-412-317-0088 for international callers, and providing the access code of 5130124. The replay will begin at approximately 11:00 a.m. ET on July 30, 2025 and end at 12 a.m. ET on August 13, 2025. An archive of the webcast will be available for one year on the Investor Relations section of the Company’s website (www.wesbanco.com).

Forward-Looking Statements

Forward-looking statements in this report relating to WesBanco’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The information contained in this report should be read in conjunction with WesBanco’s Form 10-K for the year ended December 31, 2024 and documents subsequently filed by WesBanco with the Securities and Exchange Commission (“SEC”) including WesBanco’s Form 10-Q for the quarter ended March 31, 2025, which are available at the SEC’s website, www.sec.gov or at WesBanco’s website, www.WesBanco.com. Investors are cautioned that forward-looking statements, which are not historical fact, involve risks and uncertainties, including those detailed in WesBanco’s most recent Annual Report on Form 10-K filed with the SEC under “Risk Factors” in Part I, Item 1A. Such statements are subject to important factors that could cause actual results to differ materially from those contemplated by such statements, including, without limitation, the expected cost savings and any revenue synergies from the merger of WesBanco and Premier may not be fully realized within the expected timeframes; disruption from the merger of WesBanco and Premier may make it more difficult to maintain relationships with clients, associates, or suppliers; the effects of changing regional and national economic conditions, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and associated interest rate sensitivity; sources of liquidity available to WesBanco and its related subsidiary operations; potential future credit losses and the credit risk of commercial, real estate, and consumer loan customers and their borrowing activities; actions of the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, the SEC, the Financial Institution Regulatory Authority, the Municipal Securities Rulemaking Board, the Securities Investors Protection Corporation, and other regulatory bodies; potential legislative and federal and state regulatory actions and reform, including, without limitation, the impact of the implementation of the Dodd-Frank Act; adverse decisions of federal and state courts; fraud, scams and schemes of third parties; cyber-security breaches; competitive conditions in the financial services industry; rapidly changing technology affecting financial services; marketability of debt instruments and corresponding impact on fair value adjustments; and/or other external developments materially impacting WesBanco’s operational and financial performance. WesBanco does not assume any duty to update forward-looking statements.

While forward-looking statements reflect our good-faith beliefs, they are not guarantees of future performance. All forward-looking statements are necessarily only estimates of future results. Accordingly, actual results may differ materially from those expressed in or contemplated by the particular forward-looking statement, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

Statements in this presentation with respect to the benefits of the merger between WesBanco and Premier, the parties’ plans, obligations, expectations, and intentions, and the statements with respect to accretion, earn back of tangible book value, tangible book value dilution and internal rate of return, constitute forward-looking statements as defined by federal securities laws. Such statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: the expected cost savings and any revenue synergies from the merger may not be fully realized within the expected time frames; disruption from the merger may make it more difficult to maintain relationships with clients, associates, or suppliers; changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of other business strategies; the nature, extent, and timing of governmental actions and reforms; extended disruption of vital infrastructure; and other factors described in WesBanco’s 2024 Annual Report on Form 10-K and documents subsequently filed by WesBanco with the Securities and Exchange Commission.

Non-GAAP Financial Measures

In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), WesBanco's management uses, and this presentation contains or references, certain non-GAAP financial measures, such as pre-tax pre-provision income, tangible common equity/tangible assets; net income excluding after-tax restructuring and merger-related expenses and excluding after-tax day one provision for credit losses on acquired loans; efficiency ratio; return on average assets; and return on average tangible equity. WesBanco believes these financial measures provide information useful to investors in understanding our operational performance and business and performance trends which facilitate comparisons with the performance of others in the financial services industry. Although WesBanco believes that these non-GAAP financial measures enhance investors' understanding of WesBanco's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. The non-GAAP financial measures contained therein should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the Quarterly Reports on Forms 10-Q for WesBanco and its subsidiaries, as well as other filings that the company has made with the SEC.

About WesBanco, Inc.

With over 150 years as a community-focused, regional financial services partner, WesBanco Inc. (NASDAQ: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our eight-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in Wheeling, West Virginia, WesBanco has $27.6 billion in total assets, with our Trust and Investment Services holding $7.2 billion of assets under management and securities account values (including annuities) of $2.6 billion through our broker/dealer, as of June 30, 2025. Learn more at www.wesbanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram.

SOURCE: WesBanco, Inc.

WesBanco Company Contact:

John H. Iannone

Senior Vice President, Investor Relations

304-905-7021

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands, except shares and per share amounts)
		For the Three Months Ended							For the Six Months Ended
	STATEMENT OF INCOME	June 30,							June 30,
		2025		2024		% Change			2025		2024		% Change
	Interest and dividend income
	Loans, including fees	$	290,104	$	175,361		65.4		$	508,512	$	342,335		48.5
	Interest and dividends on securities:
	Taxable		31,066		16,929		83.5			53,314		34,334		55.3
	Tax-exempt		4,616		4,556		1.3			9,145		9,142		0.0
	Total interest and dividends on securities		35,682		21,485		66.1			62,459		43,476		43.7
	Other interest income		10,596		6,147		72.4			18,643		12,516		49.0
	Total interest and dividend income		336,382		202,993		65.7			589,614		398,327		48.0
	Interest expense
	Interest bearing demand deposits		30,405		26,925		12.9			59,782		52,516		13.8
	Money market deposits		36,287		18,443		96.8			57,422		34,557		66.2
	Savings deposits		8,670		7,883		10.0			16,029		15,549		3.1
	Certificates of deposit		21,442		11,982		79.0			39,999		22,229		79.9
	Total interest expense on deposits		96,804		65,233		48.4			173,232		124,851		38.8
	Federal Home Loan Bank borrowings		16,683		16,227		2.8			29,718		33,227		(10.6	)
	Other short-term borrowings		816		896		(8.9	)		1,938		1,570		23.4
	Subordinated debt and junior subordinated debt		5,310		4,044		31.3			9,438		8,119		16.2
	Total interest expense		119,613		86,400		38.4			214,326		167,767		27.8
	Net interest income		216,769		116,593		85.9			375,288		230,560		62.8
	Provision for credit losses		3,218		10,541		(69.5	)		72,101		14,555		395.4
	Net interest income after provision for credit losses		213,551		106,052		101.4			303,187		216,005		40.4
	Non-interest income
	Trust fees		9,657		7,303		32.2			18,355		15,385		19.3
	Service charges on deposits		10,484		7,111		47.4			19,070		13,895		37.2
	Digital banking income		7,325		5,040		45.3			12,730		9,745		30.6
	Net swap fee and valuation income		746		1,776		(58.0	)		1,706		3,339		(48.9	)
	Net securities brokerage revenue		3,348		2,601		28.7			6,049		5,149		17.5
	Bank-owned life insurance		3,450		2,791		23.6			6,878		4,859		41.6
	Mortgage banking income		2,364		1,069		121.1			3,504		1,762		98.9
	Net securities gains		1,410		135		944.4			1,092		672		62.5
	Net gains on other real estate owned and other assets		111		34		226.5			71		188		(62.2	)
	Other income		5,062		3,495		44.8			9,167		6,990		31.1
	Total non-interest income		43,957		31,355		40.2			78,622		61,984		26.8
	Non-interest expense
	Salaries and wages		60,153		43,991		36.7			108,730		86,988		25.0
	Employee benefits		18,857		10,579		78.2			31,827		22,763		39.8
	Net occupancy		8,119		6,309		28.7			15,897		12,932		22.9
	Equipment and software		17,140		10,457		63.9			30,190		20,465		47.5
	Marketing		1,864		2,371		(21.4	)		4,246		4,256		(0.2	)
	FDIC insurance		5,479		3,523		55.5			9,666		6,971		38.7
	Amortization of intangible assets		9,204		2,072		344.2			13,427		4,164		222.5
	Restructuring and merger-related expense		41,056		3,777		987.0			61,066		3,777	NM
	Other operating expenses		24,663		19,313		27.7			45,451		37,269		22.0
	Total non-interest expense		186,535		102,392		82.2			320,500		199,585		60.6
	Income before provision for income taxes		70,973		35,015		102.7			61,309		78,404		(21.8	)
	Provision for income taxes		13,558		6,099		122.3			12,886		13,795		(6.6	)
	Net Income		57,415		28,916		98.6			48,423		64,609		(25.1	)
	Preferred stock dividends		2,531		2,531		-			5,063		5,063		-
	Net income available to common shareholders	$	54,884	$	26,385		108.0		$	43,360	$	59,546		(27.2	)
	Taxable equivalent net interest income	$	217,996	$	117,804		85.0		$	377,719	$	232,990		62.1
	Per common share data
	Net income per common share - basic	$	0.57	$	0.44		29.5		$	0.50	$	1.00		(50.0	)
	Net income per common share - diluted		0.57		0.44		29.5			0.50		1.00		(50.0	)
	Adjusted net income per common share - diluted, excluding certain items (1)(2)		0.91		0.49		85.7			1.60		1.05		52.4
	Dividends declared		0.37		0.36		2.8			0.74		0.72		2.8
	Book value (period end)		38.28		40.28		(5.0	)		38.28		40.28		(5.0	)
	Tangible book value (period end) (1)		20.48		21.45		(4.5	)		20.48		21.45		(4.5	)
	Average common shares outstanding - basic		95,744,980		59,521,872		60.9			86,339,970		59,452,315		45.2
	Average common shares outstanding - diluted		95,808,310		59,656,429		60.6			86,466,701		59,592,960		45.1
	Period end common shares outstanding		95,986,023		59,579,310		61.1			95,986,023		59,579,310		61.1
	Period end preferred shares outstanding		150,000		150,000		-			150,000		150,000		-
	(1) See non-GAAP financial measures for additional information relating to the calculation of this item.
	(2) Certain items excluded from the calculation consist of after-tax restructuring and merger-related expenses and the after-tax day one provision for credit losses on acquired loans.
	NM - Not Meaningful

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands, unless otherwise noted)
	Selected ratios
		For the Six Months Ended
		June 30,
		2025			2024			% Change
	Return on average assets		0.36	%		0.67	%		(46.27	)	%
	Return on average assets, excluding certain items (1)		1.14			0.71			60.56
	Return on average equity		2.51			4.71			(46.71	)
	Return on average equity, excluding certain items (1)		8.01			4.94			62.15
	Return on average tangible equity (1)		5.38			8.89			(39.48	)
	Return on average tangible equity, excluding certain items (1)		14.85			9.31			59.51
	Return on average tangible common equity (1)		5.79			9.90			(41.52	)
	Return on average tangible common equity, excluding certain items (1)		15.99			10.37			54.19
	Yield on earning assets (2)		5.46			5.04			8.33
	Cost of interest bearing liabilities		2.73			3.05			(10.49	)
	Net interest spread (2)		2.73			1.99			37.19
	Net interest margin (2)		3.48			2.93			18.77
	Efficiency (1) (2)		56.85			66.38			(14.36	)
	Average loans to average deposits		89.42			89.04			0.43
	Annualized net loan charge-offs/average loans		0.09			0.14			(35.71	)
	Effective income tax rate		21.02			17.59			19.50

	For the Three Months Ended
	June 30,			Mar. 31,				Dec. 31,			Sept. 30,			June 30,
	2025			2025				2024			2024			2024
Return on average assets		0.81	%		(0.22	)	%		1.01	%		0.76	%		0.59	%
Return on average assets, excluding certain items (1)		1.28			0.96				1.02			0.79			0.66
Return on average equity		5.76			(1.45	)			6.68			5.09			4.17
Return on average equity, excluding certain items (1)		9.17			6.45				6.75			5.32			4.65
Return on average tangible equity (1)		11.27			(1.74	)			11.49			9.07			7.93
Return on average tangible equity, excluding certain items (1)		17.16			11.61				11.61			9.46			8.78
Return on average tangible common equity (1)		12.06			(1.89	)			12.56			9.97			8.83
Return on average tangible common equity, excluding certain items (1)		18.36			12.56				12.69			10.40			9.77
Yield on earning assets (2)		5.56			5.33				5.10			5.19			5.11
Cost of interest bearing liabilities		2.69			2.78				2.96			3.21			3.12
Net interest spread (2)		2.87			2.55				2.14			1.98			1.99
Net interest margin (2)		3.59			3.35				3.03			2.95			2.95
Efficiency (1) (2)		55.54			58.62				61.23			65.29			66.11
Average loans to average deposits		89.47			89.32				89.24			90.58			89.40
Annualized net loan charge-offs and recoveries /average loans		0.09			0.08				0.13			0.05			0.07
Effective income tax rate		19.10			(6.96	)			19.87			16.75			17.42
Trust and Investment Services assets under management (3)	$	7,205		$	6,951			$	5,968		$	6,061		$	5,633
Broker-dealer securities account values (including annuities) (3)	$	2,554		$	2,359			$	1,852		$	1,853		$	1,780
(1) Certain items excluded from the calculation can consist of after-tax restructuring and merger-related expenses and the after-tax day one provision for credit losses on acquired loans. See non-GAAP financial measures for additional information relating to the calculation of this item.
(2) The yield on earning assets, net interest margin, net interest spread and efficiency ratios are presented on a fully taxable-equivalent (FTE) and annualized basis. The FTE basis adjusts for the tax benefit of income on certain tax-exempt loans and investments. WesBanco believes this measure to be the preferred industry measurement of net interest income and provides a relevant comparison between taxable and non-taxable amounts.
(3) Represents market value at period end, in millions.

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands, except shares)
														% Change
		June 30,									December 31,			December 31, 2024
	Balance sheets	2025			2024			% Change			2024			to June 30, 2025
	Assets
	Cash and due from banks	$	402,755		$	173,816			131.7		$	142,271			183.1
	Due from banks - interest bearing		754,275			312,973			141.0			425,866			77.1
	Securities:
	Equity securities, at fair value		29,538			13,091			125.6			13,427			120.0
	Available-for-sale debt securities, at fair value		3,222,819			2,102,123			53.3			2,246,072			43.5
	Held-to-maturity debt securities (fair values of $1,006,110, $1,028,432 and $1,006,817 respectively)		1,137,782			1,179,684			(3.6	)		1,152,906			(1.3	)
	Allowance for credit losses - held-to-maturity debt securities		(178	)		(163	)		(9.2	)		(146	)		(21.9	)
	Net held-to-maturity debt securities		1,137,604			1,179,521			(3.6	)		1,152,760			(1.3	)
	Total securities		4,389,961			3,294,735			33.2			3,412,259			28.7
	Loans held for sale		123,019			25,433			383.7			18,695			558.0
	Portfolio loans:
	Commercial real estate		10,600,210			6,998,888			51.5			7,326,681			44.7
	Commercial and industrial		2,819,096			1,760,479			60.1			1,787,277			57.7
	Residential real estate		3,939,796			2,506,957			57.2			2,520,086			56.3
	Home equity		1,052,334			770,599			36.6			821,110			28.2
	Consumer		417,190			220,588			89.1			201,275			107.3
	Total portfolio loans, net of unearned income		18,828,626			12,257,511			53.6			12,656,429			48.8
	Allowance for credit losses - loans		(223,866	)		(136,509	)		(64.0	)		(138,766	)		(61.3	)
	Net portfolio loans		18,604,760			12,121,002			53.5			12,517,663			48.6
	Premises and equipment, net		274,137			222,266			23.3			219,076			25.1
	Accrued interest receivable		106,410			79,759			33.4			78,324			35.9
	Goodwill and other intangible assets, net		1,745,170			1,128,103			54.7			1,124,016			55.3
	Bank-owned life insurance		552,051			358,682			53.9			360,738			53.0
	Other assets		619,038			411,606			50.4			385,390			60.6
	Total Assets	$	27,571,576		$	18,128,375			52.1		$	18,684,298			47.6
	Liabilities
	Deposits:
	Non-interest bearing demand	$	5,328,181		$	3,826,249			39.3		$	3,842,758			38.7
	Interest bearing demand		4,865,091			3,505,651			38.8			3,771,314			29.0
	Money market		4,825,154			2,283,294			111.3			2,429,977			98.6
	Savings deposits		3,192,943			2,429,241			31.4			2,362,736			35.1
	Certificates of deposit		2,943,187			1,387,938			112.1			1,726,932			70.4
	Total deposits		21,154,556			13,432,373			57.5			14,133,717			49.7
	Federal Home Loan Bank borrowings		1,750,000			1,475,000			18.6			1,000,000			75.0
	Other short-term borrowings		103,666			105,757			(2.0	)		192,073			(46.0	)
	Subordinated debt and junior subordinated debt		357,762			279,193			28.1			279,308			28.1
	Total borrowings		2,211,428			1,859,950			18.9			1,471,381			50.3
	Accrued interest payable		25,967			15,393			68.7			14,228			82.5
	Other liabilities		360,405			276,380			30.4			274,691			31.2
	Total Liabilities		23,752,356			15,584,096			52.4			15,894,017			49.4
	Shareholders' Equity
	Preferred stock, no par value; 1,000,000 shares authorized; 150,000 shares 6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference $150.0 million, issued and outstanding, respectively		144,484			144,484			-			144,484			-
	Common stock, $2.0833 par value; 200,000,000, 100,000,000, and 200,000,000 shares authorized; 95,986,023, 68,081,306 and 75,354,034 shares issued; 95,986,023, 59,579,310 and 66,919,805 shares outstanding, respectively		199,967			141,834			41.0			156,985			27.4
	Capital surplus		2,485,458			1,630,830			52.4			1,809,679			37.3
	Retained earnings		1,165,058			1,159,217			0.5			1,192,091			(2.3	)
	Treasury stock (0, 8,501,996 and 8,434,229 shares - at cost, respectively)		-			(294,818	)		(100.0	)		(292,244	)		(100.0	)
	Accumulated other comprehensive loss		(173,644	)		(235,208	)		26.2			(218,632	)		20.6
	Deferred benefits for directors		(2,103	)		(2,060	)		(2.1	)		(2,082	)		(1.0	)
	Total Shareholders' Equity		3,819,220			2,544,279			50.1			2,790,281			36.9
	Total Liabilities and Shareholders' Equity	$	27,571,576		$	18,128,375			52.1		$	18,684,298			47.6

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands, except shares)
		June 30,			March 31,
	Balance sheets	2025			2025			% Change
	Assets
	Cash and due from banks	$	402,755		$	245,897			63.8
	Due from banks - interest bearing		754,275			845,818			(10.8	)
	Securities:
	Equity securities, at fair value		29,538			28,217			4.7
	Available-for-sale debt securities, at fair value		3,222,819			3,149,043			2.3
	Held-to-maturity (fair values of $1,006,110; and $1,002,796 respectively)		1,137,782			1,143,376			(0.5	)
	Allowance for credit losses - held-to-maturity debt securities		(178	)		(137	)		(29.9	)
	Net held-to-maturity debt securities		1,137,604			1,143,239			(0.5	)
	Total securities		4,389,961			4,320,499			1.6
	Loans held for sale		123,019			243,281			(49.4	)
	Portfolio loans:
	Commercial real estate		10,600,210			10,501,846			0.9
	Commercial and industrial		2,819,096			2,781,728			1.3
	Residential real estate		3,939,796			3,930,667			0.2
	Home equity		1,052,334			1,020,929			3.1
	Consumer		417,190			438,578			(4.9	)
	Total portfolio loans, net of unearned income		18,828,626			18,673,748			0.8
	Allowance for credit losses - loans		(223,866	)		(233,617	)		4.2
	Net portfolio loans		18,604,760			18,440,131			0.9
	Premises and equipment, net		274,137			281,493			(2.6	)
	Accrued interest receivable		106,410			108,778			(2.2	)
	Goodwill and other intangible assets, net		1,745,170			1,754,703			(0.5	)
	Bank-owned life insurance		552,051			548,601			0.6
	Other assets		619,038			623,182			(0.7	)
	Total Assets	$	27,571,576		$	27,412,383			0.6
	Liabilities
	Deposits:
	Non-interest bearing demand	$	5,328,181		$	5,318,619			0.2
	Interest bearing demand		4,865,091			5,000,881			(2.7	)
	Money market		4,825,154			4,875,384			(1.0	)
	Savings deposits		3,192,943			3,068,618			4.1
	Certificates of deposit		2,943,187			3,028,893			(2.8	)
	Total deposits		21,154,556			21,292,395			(0.6	)
	Federal Home Loan Bank borrowings		1,750,000			1,476,511			18.5
	Other short-term borrowings		103,666			147,804			(29.9	)
	Subordinated debt and junior subordinated debt		357,762			360,156			(0.7	)
	Total borrowings		2,211,428			1,984,471			11.4
	Accrued interest payable		25,967			26,570			(2.3	)
	Other liabilities		360,405			327,368			10.1
	Total Liabilities		23,752,356			23,630,804			0.5
	Shareholders' Equity
	Preferred stock, no par value; 1,000,000 shares authorized; 150,000 shares 6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference $150.0 million, issued and outstanding, respectively		144,484			144,484			-
	Common stock, $2.0833 par value; 200,000,000 shares authorized; 95,986,023 and 95,672,204 shares issued; 95,986,023 and 95,672,204 shares outstanding, respectively		199,967			199,313			0.3
	Capital surplus		2,485,458			2,485,223			0.0
	Retained earnings		1,165,058			1,145,396			1.7
	Treasury stock (0 and 0 shares - at cost, respectively)		-			-			-
	Accumulated other comprehensive loss		(173,644	)		(190,710	)		8.9
	Deferred benefits for directors		(2,103	)		(2,127	)		1.1
	Total Shareholders' Equity		3,819,220			3,781,579			1.0
	Total Liabilities and Shareholders' Equity	$	27,571,576		$	27,412,383			0.6

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands)
		For the Three Months Ended June 30,										For the Six Months Ended June 30,
		2025					2024					2025					2024
	Average balance sheet and net interest margin analysis	Average		Average			Average		Average			Average		Average			Average		Average
		Balance		Rate			Balance		Rate			Balance		Rate			Balance		Rate
	Assets
	Due from banks - interest bearing	$	746,583		4.79	%	$	352,986		5.62	%	$	675,962		4.76	%	$	364,127		5.66	%
	Loans, net of unearned income (1)		18,903,459		6.16			12,057,831		5.85			16,823,658		6.10			11,907,353		5.78
	Securities: (2)
	Taxable		3,881,680		3.21			2,863,213		2.38			3,567,118		3.01			2,896,040		2.38
	Tax-exempt (3)		731,866		3.20			753,151		3.08			732,482		3.19			756,474		3.08
	Total securities		4,613,546		3.21			3,616,364		2.52			4,299,600		3.04			3,652,514		2.53
	Other earning assets		87,138		7.75			56,077		8.71	%		74,336		7.31			58,499		7.78
	Total earning assets (3)		24,350,726		5.56	%		16,083,258		5.11	%		21,873,556		5.46	%		15,982,493		5.04	%
	Other assets		2,953,974					1,807,056					2,586,357					1,814,796
	Total Assets	$	27,304,700				$	17,890,314				$	24,459,913				$	17,797,289
	Liabilities and Shareholders' Equity
	Interest bearing demand deposits	$	4,885,687		2.50	%	$	3,527,316		3.07	%	$	4,531,324		2.66	%	$	3,514,182		3.01	%
	Money market accounts		4,830,592		3.01			2,228,070		3.33			4,025,925		2.88			2,157,553		3.22
	Savings deposits		3,122,815		1.11			2,441,949		1.30			2,865,410		1.13			2,461,330		1.27
	Certificates of deposit		2,960,970		2.90			1,371,179		3.51			2,575,458		3.13			1,331,145		3.36
	Total interest bearing deposits		15,800,064		2.46			9,568,514		2.74			13,998,117		2.50			9,464,210		2.65
	Federal Home Loan Bank borrowings		1,585,821		4.22			1,186,538		5.50			1,378,552		4.35			1,214,973		5.50
	Repurchase agreements		118,988		2.75			107,811		3.34			140,829		2.78			100,188		3.15
	Subordinated debt and junior subordinated debt		357,379		5.96			279,159		5.83			331,488		5.74			279,131		5.85
	Total interest bearing liabilities (4)		17,862,252		2.69	%		11,142,022		3.12	%		15,848,986		2.73	%		11,058,502		3.05	%
	Non-interest bearing demand deposits		5,328,576					3,918,685					4,816,070					3,908,837
	Other liabilities		294,359					286,659					308,189					285,556
	Shareholders' equity		3,819,513					2,542,948					3,486,668					2,544,394
	Total Liabilities and Shareholders' Equity	$	27,304,700				$	17,890,314				$	24,459,913				$	17,797,289
	Taxable equivalent net interest spread				2.87	%				1.99	%				2.73	%				1.99	%
	Taxable equivalent net interest margin				3.59	%				2.95	%				3.48	%				2.93	%
	(1) Gross of allowance for credit losses, net of unearned income and includes non-accrual and loans held for sale. Loan fees included in interest income on loans were $2.5 million and $0.9 million for the three months ended June 30, 2025 and 2024, respectively, and were $4.1 million and $1.2 million for the six months ended June 30, 2025 and 2024. Additionally, loan accretion included in interest income on loans acquired from prior acquisitions was $16.5 million and $0.8 million for the three months ended June 30, 2025 and 2024, respectively, and was $23.3 million and $1.5 million for the six months ended June 30, 2025 and 2024, respectively.
	(2) Average yields on available-for-sale securities are calculated based on amortized cost.
	(3) Taxable equivalent basis is calculated on tax-exempt securities using a rate of 21% for each period presented.
	(4) Accretion on interest bearing liabilities acquired from prior acquisitions was $5.6 million and $0.1 million for the three months ended June 30, 2025 and 2024, respectively, and was $7.8 million and $0.2 million for the six months ended June 30, 2025 and 2024 respectively.

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands, except shares and per share amounts)
		Quarter Ended
		June 30,		Mar. 31,			Dec. 31,			Sept. 30,			June 30,
	Statement of Income	2025		2025			2024			2024			2024
	Interest and dividend income
	Loans, including fees	$	290,104	$	218,409		$	183,251		$	184,215		$	175,361
	Interest and dividends on securities:
	Taxable		31,066		22,247			18,575			17,651			16,929
	Tax-exempt		4,616		4,529			4,449			4,498			4,556
	Total interest and dividends on securities		35,682		26,776			23,024			22,149			21,485
	Other interest income		10,596		8,047			7,310			7,365			6,147
	Total interest and dividend income		336,382		253,232			213,585			213,729			202,993
	Interest expense
	Interest bearing demand deposits		30,405		29,377			27,044			28,139			26,925
	Money market deposits		36,287		21,134			18,734			19,609			18,443
	Savings deposits		8,670		7,359			7,271			8,246			7,883
	Certificates of deposit		21,442		18,558			16,723			14,284			11,982
	Total interest expense on deposits		96,804		76,428			69,772			70,278			65,233
	Federal Home Loan Bank borrowings		16,683		13,034			12,114			17,147			16,227
	Other short-term borrowings		816		1,122			1,291			1,092			896
	Subordinated debt and junior subordinated debt		5,310		4,129			3,902			4,070			4,044
	Total interest expense		119,613		94,713			87,079			92,587			86,400
	Net interest income		216,769		158,519			126,506			121,142			116,593
	Provision for credit losses		3,218		68,883			(147	)		4,798			10,541
	Net interest income after provision for credit losses		213,551		89,636			126,653			116,344			106,052
	Non-interest income
	Trust fees		9,657		8,697			7,775			7,517			7,303
	Service charges on deposits		10,484		8,587			8,138			7,945			7,111
	Digital banking income		7,325		5,404			5,125			5,084			5,040
	Net swap fee and valuation income/ (loss)		746		961			3,230			(627	)		1,776
	Net securities brokerage revenue		3,348		2,701			2,430			2,659			2,601
	Bank-owned life insurance		3,450		3,428			2,512			2,173			2,791
	Mortgage banking income		2,364		1,140			1,229			1,280			1,069
	Net securities gains / (losses)		1,410		(318	)		61			675			135
	Net gains / (losses) on other real estate owned and other assets		111		(40	)		193			(239	)		34
	Other income		5,062		4,105			5,695			3,145			3,495
	Total non-interest income		43,957		34,665			36,388			29,612			31,355
	Non-interest expense
	Salaries and wages		60,153		48,577			45,638			44,890			43,991
	Employee benefits		18,857		12,970			11,856			11,522			10,579
	Net occupancy		8,119		7,778			5,999			6,226			6,309
	Equipment and software		17,140		13,050			10,681			10,157			10,457
	Marketing		1,864		2,382			2,531			2,977			2,371
	FDIC insurance		5,479		4,187			3,640			3,604			3,523
	Amortization of intangible assets		9,204		4,223			2,034			2,053			2,072
	Restructuring and merger-related expense		41,056		20,010			646			1,977			3,777
	Other operating expenses		24,663		20,789			18,079			17,777			19,313
	Total non-interest expense		186,535		133,966			101,104			101,183			102,392
	Income / (Loss) before provision for income taxes		70,973		(9,665	)		61,937			44,773			35,015
	Provision / (benefit) provision for income taxes		13,558		(673	)		12,308			7,501			6,099
	Net Income /(loss)		57,415		(8,992	)		49,629			37,272			28,916
	Preferred stock dividends		2,531		2,531			2,531			2,531			2,531
	Net income / (loss) available to common shareholders	$	54,884	$	(11,523	)	$	47,098		$	34,741		$	26,385
	Taxable equivalent net interest income	$	217,996	$	159,723		$	127,689		$	122,338		$	117,804
	Per common share data
	Net income / (loss) per common share - basic	$	0.57	$	(0.15	)	$	0.70		$	0.54		$	0.44
	Net income / (loss) per common share - diluted		0.57		(0.15	)		0.70			0.54			0.44
	Adjusted net income per common share - diluted, excluding certain items (1)(2)		0.91		0.66			0.71			0.56			0.49
	Dividends declared		0.37		0.37			0.37			0.36			0.36
	Book value (period end)		38.28		38.02			39.54			39.73			40.28
	Tangible book value (period end) (1)		20.48		20.06			22.83			22.99			21.45
	Average common shares outstanding - basic		95,744,980		76,830,460			66,895,834			64,488,962			59,521,872
	Average common shares outstanding - diluted		95,808,310		77,020,592			66,992,009			64,634,208			59,656,429
	Period end common shares outstanding		95,986,023		95,672,204			66,919,805			66,871,479			59,579,310
	Period end preferred shares outstanding		150,000		150,000			150,000			150,000			150,000
	Full time equivalent employees		3,253		3,205			2,262			2,277			2,370
	(1) See non-GAAP financial measures for additional information relating to the calculation of this item.
	(2) Certain items excluded from the calculation consist of after-tax restructuring and merger-related expenses and the after-tax day one provision for credit losses on acquired loans.

WESBANCO, INC.
Consolidated Selected Financial Highlights
(unaudited, dollars in thousands)
		Quarter Ended
		June 30,			Mar. 31,			Dec. 31,				Sept. 30,			June 30,
	Asset quality data	2025			2025			2024				2024			2024
	Non-performing assets:
	Total non-performing loans	$	84,319		$	81,489		$	39,752			$	30,421		$	35,468
	Other real estate and repossessed assets		958			1,854			852				906			1,328
	Total non-performing assets	$	85,277		$	83,343		$	40,604			$	31,327		$	36,796
	Past due loans (1):
	Loans past due 30-89 days	$	65,401		$	69,755		$	45,926			$	33,762		$	20,237
	Loans past due 90 days or more		20,890			10,734			13,553				20,427			9,171
	Total past due loans	$	86,291		$	80,489		$	59,479			$	54,189		$	29,408
	Criticized and classified loans (2):
	Criticized loans	$	531,415		$	470,619		$	242,000			$	200,540		$	179,621
	Classified loans		151,849			149,452			112,669				93,185			83,744
	Total criticized and classified loans	$	683,264		$	620,071		$	354,669			$	293,725		$	263,365
	Loans past due 30-89 days / total portfolio loans		0.35	%		0.37	%		0.36		%		0.27	%		0.17	%
	Loans past due 90 days or more / total portfolio loans		0.11			0.06			0.11				0.16			0.07
	Non-performing loans / total portfolio loans		0.45			0.44			0.31				0.24			0.29
	Non-performing assets/total portfolio loans, other    real estate and repossessed assets		0.45			0.45			0.32				0.25			0.30
	Non-performing assets / total assets		0.31			0.30			0.22				0.17			0.20
	Criticized and classified loans / total portfolio loans		3.63			3.32			2.80				2.36			2.15
	Allowance for credit losses
	Allowance for credit losses - loans	$	223,866		$	233,617		$	138,766			$	140,872		$	136,509
	Allowance for credit losses - loan commitments		6,168			6,459			6,120				8,225			9,194
	Provision for credit losses		3,218			68,883			(147	)			4,798			10,541
	Net loan and deposit account overdraft charge-offs and recoveries		4,329			2,771			4,066				1,420			2,221
	Annualized net loan charge-offs and recoveries / average loans		0.09	%		0.08	%		0.13		%		0.05	%		0.07	%
	Allowance for credit losses - loans / total portfolio loans		1.19	%		1.25	%		1.10		%		1.13	%		1.11	%
	Allowance for credit losses - loans / non-performing loans		2.65	x		2.87	x		3.49		x		4.63	x		3.85	x
	Allowance for credit losses - loans / non-performing loans    and loans past due		1.31	x		1.44	x		1.40		x		1.66	x		2.10	x
		Quarter Ended
		June 30,			Mar. 31,			Dec. 31,				Sept. 30,			June 30,
		2025			2025			2024				2024			2024
	Capital ratios
	Tier I leverage capital		8.66	%		11.01	%		10.68		%		10.69	%		9.72	%
	Tier I risk-based capital		10.59			10.69			13.06				12.89			11.58
	Total risk-based capital		13.40			13.59			15.88				15.74			14.45
	Common equity tier 1 capital ratio (CET 1)		9.91			9.99			12.07				11.89			10.58
	Average shareholders' equity to average assets		13.99			14.86			15.09				14.84			14.21
	Tangible equity to tangible assets (3)		8.16			8.03			9.52				9.67			8.37
	Tangible common equity to tangible assets (3)		7.60			7.47			8.70				8.84			7.52
	(1) Excludes non-performing loans.
	(2) Criticized and classified commercial loans may include loans that are also reported as non-performing or past due.
	(3) See non-GAAP financial measures for additional information relating to the calculation of this ratio.

NON-GAAP FINANCIAL MEASURES
The following non-GAAP financial measures used by WesBanco provide information useful to investors in understanding WesBanco’s operating performance and trends, and facilitate comparisons with the performance of WesBanco’s peers. The following tables summarize the non-GAAP financial measures derived from amounts reported in WesBanco’s financial statements.
		Three Months Ended															Year to Date
		June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,			June 30,
	(unaudited, dollars in thousands, except shares and per share amounts)	2025			2025			2024			2024			2024			2025			2024
	Return on average assets, excluding certain items:
	Net income / (loss) available to common shareholders	$	54,884		$	(11,523	)	$	47,098		$	34,741		$	26,385		$	43,360		$	59,546
	Plus: after-tax restructuring and merger-related expenses (1)		32,434			15,808			510			1,562			2,984			48,242			2,984
	Plus: after-tax day one provision for credit losses on acquired loans (1)		-			46,926			-			-			-			46,926			-
	Net income available to common shareholders, excluding certain items		87,318			51,211			47,608			36,303			29,369			138,528			62,530
	Average total assets	$	27,304,700		$	21,658,352		$	18,593,265		$	18,295,583		$	17,890,314		$	24,459,913		$	17,797,289
	Return on average assets, excluding certain items (annualized) (2)		1.28	%		0.96	%		1.02	%		0.79	%		0.66	%		1.14	%		0.71	%
	Return on average equity, excluding certain items:
	Net income / (loss) available to common shareholders	$	54,884		$	(11,523	)	$	47,098		$	34,741		$	26,385		$	43,360		$	59,546
	Plus: after-tax restructuring and merger-related expenses (1)		32,434			15,808			510			1,562			2,984			48,242			2,984
	Plus: after-tax day one provision for credit losses on acquired loans (1)		-			46,926			-			-			-			46,926			-
	Net income available to common shareholders excluding certain items		87,318			51,211			47,608			36,303			29,369			138,528			62,530
	Average total shareholders' equity		3,819,513			3,218,639			2,806,079			2,715,461			2,542,948			3,486,668			2,544,394
	Return on average equity, excluding certain items (annualized) (2)		9.17	%		6.45	%		6.75	%		5.32	%		4.65	%		8.01	%		4.94	%
	Return on average tangible equity:
	Net income / (loss) available to common shareholders	$	54,884		$	(11,523	)	$	47,098		$	34,741		$	26,385		$	43,360		$	59,546
	Plus: amortization of intangibles (1)		7,271			3,336			1,607			1,622			1,637			10,607			3,290
	Net income / (loss) available to common shareholders before amortization of intangibles		62,155			(8,187	)		48,705			36,363			28,022			53,967			62,836
	Average total shareholders' equity		3,819,513			3,218,639			2,806,079			2,715,461			2,542,948			3,486,668			2,544,394
	Less: average goodwill and other intangibles, net of def. tax liability		(1,608,358	)		(1,312,855	)		(1,119,060	)		(1,120,662	)		(1,122,264	)		(1,461,946	)		(1,123,101	)
	Average tangible equity	$	2,211,155		$	1,905,784		$	1,687,019		$	1,594,799		$	1,420,684		$	2,024,722		$	1,421,293
	Return on average tangible equity (annualized) (2)		11.27	%		-1.74	%		11.49	%		9.07	%		7.93	%		5.37	%		8.89	%
	Average tangible common equity	$	2,066,671		$	1,761,300		$	1,542,535		$	1,450,315		$	1,276,200		$	1,880,238		$	1,276,809
	Return on average tangible common equity (annualized) (2)		12.06	%		-1.89	%		12.56	%		9.97	%		8.83	%		5.79	%		9.90	%
	Return on average tangible equity, excluding certain items:
	Net income / (loss) available to common shareholders	$	54,884		$	(11,523	)	$	47,098		$	34,741		$	26,385		$	43,360		$	59,546
	Plus: after-tax restructuring and merger-related expenses (1)		32,434			15,808			510			1,562			2,984			48,242			2,984
	Plus: amortization of intangibles (1)		7,271			3,336			1,607			1,622			1,637			10,607			3,290
	Plus: after-tax day one provision for credit losses on acquired loans (1)		-			46,926			-			-			-			46,926			-
	Net income available to common shareholders before amortization of intangibles and excluding other items		94,589			54,547			49,215			37,925			31,006			149,135			65,820
	Average total shareholders' equity		3,819,513			3,218,639			2,806,079			2,715,461			2,542,948			3,486,668			2,544,394
	Less: average goodwill and other intangibles, net of def. tax liability		(1,608,358	)		(1,312,855	)		(1,119,060	)		(1,120,662	)		(1,122,264	)		(1,461,946	)		(1,123,101	)
	Average tangible equity	$	2,211,155		$	1,905,784		$	1,687,019		$	1,594,799		$	1,420,684		$	2,024,722		$	1,421,293
	Return on average tangible equity, excluding certain items (annualized) (2)		17.16	%		11.61	%		11.61	%		9.46	%		8.78	%		14.85	%		9.31	%
	Average tangible common equity	$	2,066,671		$	1,761,300		$	1,542,535		$	1,450,315		$	1,276,200		$	1,880,238		$	1,276,809
	Return on average tangible common equity, excluding certain items (annualized) (2)		18.36	%		12.56	%		12.69	%		10.40	%		9.77	%		15.99	%		10.37	%

	Three Months Ended															Year to Date
	June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,			June 30,
(unaudited, dollars in thousands, except shares and per share amounts)	2025			2025			2024			2024			2024			2025			2024
Efficiency ratio:
Non-interest expense	$	186,535		$	133,966		$	101,104		$	101,183		$	102,392		$	320,500		$	199,585
Less: restructuring and merger-related expense		(41,056	)		(20,010	)		(646	)		(1,977	)		(3,777	)		(61,066	)		(3,777	)
Non-interest expense excluding restructuring and merger-related expense		145,479			113,956			100,458			99,206			98,615			259,434			195,808
Net interest income on a fully taxable equivalent basis		217,996			159,723			127,689			122,338			117,804			377,719			232,990
Non-interest income		43,957			34,665			36,388			29,612			31,355			78,622			61,984
Net interest income on a fully taxable equivalent basis plus non-interest income	$	261,953		$	194,388		$	164,077		$	151,950		$	149,159		$	456,341		$	294,974
Efficiency ratio		55.54	%		58.62	%		61.23	%		65.29	%		66.11	%		56.85	%		66.38	%
Adjusted net income available to common shareholders, excluding certain items:
Net income / (loss) available to common shareholders	$	54,884		$	(11,523	)	$	47,098		$	34,741		$	26,385		$	43,360		$	59,546
Add: After-tax restructuring and merger-related expenses (1)		32,434			15,808			510			1,562			2,984			48,242			2,984
Add: after-tax day one provision for credit losses on acquired loans (1)		-			46,926			-			-			-			46,926			-
Adjusted net income available to common shareholders, excluding certain items:	$	87,318		$	51,211		$	47,608		$	36,303		$	29,369		$	138,528		$	62,530
Adjusted net income per common share - diluted, excluding certain items:
Net income / (loss) per common share - diluted	$	0.57		$	(0.15	)	$	0.70		$	0.54		$	0.44		$	0.50		$	1.00
Add: After-tax restructuring and merger-related expenses per common share - diluted (1)		0.34			0.21			0.01			0.02			0.05			0.56			0.05
Add: after-tax day one provision for credit losses on acquired loans (1)		-			0.60			-			-			-			0.54			-
Adjusted net income per common share - diluted, excluding certain items:	$	0.91		$	0.66		$	0.71		$	0.56		$	0.49		$	1.60		$	1.05
	Period End
	June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,
	2025			2025			2024			2024			2024
Tangible book value per share:
Total shareholders' equity	$	3,819,220		$	3,781,579		$	2,790,281		$	2,801,585		$	2,544,279
Less: goodwill and other intangible assets, net of def. tax liability		(1,709,001	)		(1,718,048	)		(1,118,293	)		(1,119,899	)		(1,121,521	)
Less: preferred shareholders' equity		(144,484	)		(144,484	)		(144,484	)		(144,484	)		(144,484	)
Tangible common equity		1,965,735			1,919,047			1,527,504			1,537,202			1,278,274
Common shares outstanding		95,986,023			95,672,204			66,919,805			66,871,479			59,579,310
Tangible book value per share	$	20.48		$	20.06		$	22.83		$	22.99		$	21.45
Tangible common equity to tangible assets:
Total shareholders' equity	$	3,819,220		$	3,781,579		$	2,790,281		$	2,801,585		$	2,544,279
Less: goodwill and other intangible assets, net of def. tax liability		(1,709,001	)		(1,718,048	)		(1,118,293	)		(1,119,899	)		(1,121,521	)
Tangible equity		2,110,219			2,063,531			1,671,988			1,681,686			1,422,758
Less: preferred shareholders' equity		(144,484	)		(144,484	)		(144,484	)		(144,484	)		(144,484	)
Tangible common equity		1,965,735			1,919,047			1,527,504			1,537,202			1,278,274
Total assets		27,571,576			27,412,383			18,684,298			18,514,169			18,128,375
Less: goodwill and other intangible assets, net of def. tax liability		(1,709,001	)		(1,718,048	)		(1,118,293	)		(1,119,899	)		(1,121,521	)
Tangible assets	$	25,862,575		$	25,694,335		$	17,566,005		$	17,394,270		$	17,006,854
Tangible equity to tangible assets		8.16	%		8.03	%		9.52	%		9.67	%		8.37	%
Tangible common equity to tangible assets		7.60	%		7.47	%		8.70	%		8.84	%		7.52	%
(1) Tax effected at 21% for all periods presented.
(2) The ratios are annualized by utilizing actual number of days in the quarter versus the year.

ADDITIONAL NON-GAAP FINANCIAL MEASURES
The following non-GAAP financial measures used by WesBanco provide information useful to investors in understanding WesBanco’s operating performance and trends, and facilitate comparisons with the performance of WesBanco’s peers. The following tables summarize the non-GAAP financial measures derived from amounts reported in WesBanco’s financial statements.
		Three Months Ended															Year to Date
		June 30,			Mar. 31,			Dec. 31,			Sept. 30,			June 30,			June 30,
	(unaudited, dollars in thousands, except shares and per share amounts)	2025			2025			2024			2024			2024			2025			2024
	Pre-tax, pre-provision income:
	Income / (Loss) before Provision / (benefit) for income taxes	$	70,973		$	(9,665	)	$	61,937		$	44,773		$	35,015		$	61,309		$	78,404
	Add: provision for credit losses		3,218			68,883			(147	)		4,798			10,541			72,101			14,555
	Pre-tax, pre-provision income	$	74,191		$	59,218		$	61,790		$	49,571		$	45,556		$	133,410		$	92,959
	Pre-tax, pre-provision income, excluding restructuring and merger-related expenses:
	Income / (Loss) before Provision / (benefit) for income taxes	$	70,973		$	(9,665	)	$	61,937		$	44,773		$	35,015		$	61,309		$	78,404
	Add: provision for credit losses		3,218			68,883			(147	)		4,798			10,541			72,101			14,555
	Add: restructuring and merger-related expenses		41,056			20,010			646			1,977			3,777			61,066			3,777
	Pre-tax, pre-provision income, excluding restructuring and merger-related expenses	$	115,247		$	79,228		$	62,436		$	51,548		$	49,333		$	194,476		$	96,736
	Pre-tax, pre-provision return on average assets, excluding restructuring and merger-related expenses:
	Income / (Loss) before Provision / (benefit) for income taxes	$	70,973		$	(9,665	)	$	61,937		$	44,773		$	35,015		$	61,309		$	78,404
	Add: provision for credit losses		3,218			68,883			(147	)		4,798			10,541			72,101			14,555
	Add: restructuring and merger-related expenses		41,056			20,010			646			1,977			3,777			61,066			3,777
	Pre-tax, pre-provision income, excluding restructuring and merger-related expenses		115,247			79,228			62,436			51,548			49,333			194,476			96,736
	Average total assets	$	27,304,700		$	21,658,352		$	18,593,265		$	18,295,583		$	17,890,314		$	24,459,913		$	17,797,289
	Pre-tax, pre-provision return on average assets, excluding restructuring and merger-related expenses (annualized) (2)		1.69	%		1.48	%		1.34	%		1.12	%		1.11	%		1.60	%		1.09	%
	Pre-tax, pre-provision return on average equity, excluding restructuring and merger-related expenses:
	Income / (Loss) before Provision / (benefit) for income taxes	$	70,973		$	(9,665	)	$	61,937		$	44,773		$	35,015		$	61,309		$	78,404
	Add: provision for credit losses		3,218			68,883			(147	)		4,798			10,541			72,101			14,555
	Add: restructuring and merger-related expenses		41,056			20,010			646			1,977			3,777			61,066			3,777
	Pre-tax, pre-provision income, excluding restructuring and merger-related expenses		115,247			79,228			62,436			51,548			49,333			194,476			96,736
	Average total shareholders' equity	$	3,819,513		$	3,218,639		$	2,806,079		$	2,715,461		$	2,542,948		$	3,486,668		$	2,544,394
	Pre-tax, pre-provision return on average equity, excluding restructuring and merger-related expenses (annualized) (2)		12.10	%		9.98	%		8.85	%		7.55	%		7.80	%		11.25	%		7.65	%
	Pre-tax, pre-provision return on average tangible equity, excluding certain items (1):
	Income / (Loss) before Provision / (benefit) for income taxes	$	70,973		$	(9,665	)	$	61,937		$	44,773		$	35,015		$	61,309		$	78,404
	Add: provision for credit losses		3,218			68,883			(147	)		4,798			10,541			72,101			14,555
	Add: amortization of intangibles		9,204			4,223			2,034			2,053			2,072			13,427			4,164
	Add: restructuring and merger-related expenses		41,056			20,010			646			1,977			3,777			61,066			3,777
	Pre-tax, pre-provision income before restructuring and merger-related expenses and amortization of intangibles		124,451			83,451			64,470			53,601			51,405			207,903			100,900
	Average total shareholders' equity		3,819,513			3,218,639			2,806,079			2,715,461			2,542,948			3,486,668			2,544,394
	Less: average goodwill and other intangibles, net of def. tax liability		(1,608,358	)		(1,312,855	)		(1,119,060	)		(1,120,662	)		(1,122,264	)		(1,461,946	)		(1,123,101	)
	Average tangible equity	$	2,211,155		$	1,905,784		$	1,687,019		$	1,594,799		$	1,420,684		$	2,024,722		$	1,421,293
	Pre-tax, pre-provision return on average tangible equity, excluding certain items (annualized) (1) (2)		22.58	%		17.76	%		15.20	%		13.37	%		14.55	%		20.71	%		14.28	%
	Average tangible common equity	$	2,066,671		$	1,761,300		$	1,542,535		$	1,450,315		$	1,276,200		$	1,880,238		$	1,276,809
	Pre-tax, pre-provision return on average tangible common equity, excluding certain items (annualized) (1) (2)		24.15	%		19.22	%		16.63	%		14.70	%		16.20	%		22.30	%		15.89	%
	(1) Certain items excluded from the calculations consist of credit provisions, tax provisions and restructuring and merger-related expenses.
	(2) The ratios are annualized by utilizing actual numbers of days in the quarter versus the year.