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Fair Value Measurement (Tables)

6 Months Ended

Jun. 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 June 30, 2025 and December 31, 2024:


			June 30, 2025
			Fair Value Measurements Using:
	June 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	$	29,538	$	29,538	$	—	$	—
Available-for-sale debt securities
U.S. Treasury		195,512		195,512		—		—
U.S. Government sponsored entities and agencies		207,247		—		207,247		—
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		2,450,382		—		2,450,382		—
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		151,851		—		151,851		—
Asset backed securities		71,935		—		71,935		—
Obligations of states and political subdivisions		81,981		—		80,028		1,953
Corporate debt securities		63,911		—		63,911		—
Total available-for-sale debt securities	$	3,222,819	$	195,512	$	3,025,354	$	1,953
Loans held for sale		123,019		—		123,019		—
Other assets - interest rate swaps		64,943		—		64,943		—
Total assets recurring fair value measurements	$	3,440,319	$	225,050	$	3,213,316	$	1,953
Other liabilities - interest rate swaps	$	66,526	$	—	$	66,526	$	—
Total liabilities recurring fair value measurements	$	66,526	$	—	$	66,526	$	—
Nonrecurring fair value measurements
Collateral dependent loans	$	18,997	$	—	$	—	$	18,997
Other real estate owned and repossessed assets		958		—		—		958
Total nonrecurring fair value measurements	$	19,955	$	—	$	—	$	19,955


			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)
June 30, 2025
Collateral dependent loans	$	18,997	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-(20.8%)/(7.9%)
				Liquidation expenses (2)	(6.3%)-(8.0%)/(7.4%)
Other real estate owned and repossessed assets	$	958	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
					June 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	$	1,157,030	$	1,157,030	$	1,157,030	$	—	$	—
Equity securities		29,538		29,538		29,538		—		—
Available-for-sale debt securities		3,222,819		3,222,819		—		3,220,866		1,953
Net held-to-maturity debt securities		1,137,604		1,006,110		—		1,005,941		169
Net loans		18,604,760		18,111,962		—		—		18,111,962
Loans held for sale		123,019		123,019		—		123,019		—
Other assets - interest rate derivatives		64,943		64,943		—		64,943		—
Accrued interest receivable		106,410		106,410		106,410		—		—

Financial Liabilities
Deposits		21,154,556		21,136,303		18,211,369		2,924,934		—
Federal Home Loan Bank borrowings		1,750,000		1,750,833		—		1,750,833		—
Other borrowings		103,666		99,771		99,771		—		—
Subordinated debt and junior subordinated debt		357,762		339,114		—		339,114		—
Other liabilities - interest rate derivatives		66,526		66,526		—		66,526		—
Accrued interest payable		25,967		25,967		25,967		—		—


					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		—		—