UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-39442

WESBANCO, INC.

(Exact name of Registrant as specified in its charter)

West Virginia	55-0571723
(State of incorporation)	(IRS Employer Identification No.)
1 Bank Plaza, Wheeling, WV	26003
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: 304-234-9000

NOT APPLICABLE

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock $2.0833 Par Value	WSBC	NASDAQ Global Select Market
Depositary Shares (each representing 1/40th interest in a share of 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A)	WSBCP	NASDAQ Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☑	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of July 31, 2025, there were 95,989,823 shares of Wesbanco, Inc. common stock, $2.0833 par value, outstanding.

WESBANCO, INC.

TABLE OF CONTENTS

Item No.	ITEM	Page No.
	PART I - FINANCIAL INFORMATION
1	Financial Statements	2
	Consolidated Balance Sheets at June 30, 2025 (unaudited) and December 31, 2024	2
	Consolidated Statements of Income for the three and six months ended June 30, 2025 and 2024 (unaudited)	3
	Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2025 and 2024 (unaudited)	4
	Consolidated Statements of Changes in Shareholders' Equity for the three and six months ended June 30, 2025 and 2024 (unaudited)	5
	Consolidated Condensed Statements of Cash Flows for the six months ended June 30, 2025 and 2024 (unaudited)	7
	Notes to Consolidated Financial Statements (unaudited)	8
2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	45
3	Quantitative and Qualitative Disclosures About Market Risk	62
4	Controls and Procedures	64
	PART II – OTHER INFORMATION
1	Legal Proceedings	65
2	Unregistered Sales of Equity Securities and Use of Proceeds	65
5	Other Information	65
6	Exhibits	66
	Signatures	67

1

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

WESBANCO, INC. CONSOLIDATED BALANCE SHEETS

	June 30,			December 31,
(unaudited, in thousands, except shares)	2025			2024
ASSETS
Cash and due from banks, including interest bearing amounts of $754,275 and $425,866, respectively	$	1,157,030		$	568,137
Securities:
Equity securities, at fair value		29,538			13,427
Available-for-sale debt securities, at fair value		3,222,819			2,246,072
Held-to-maturity debt securities (fair values of $1,006,110 and $1,006,817, respectively)		1,137,782			1,152,906
Allowance for credit losses, held-to-maturity debt securities		(178	)		(146	)
Net held-to-maturity debt securities		1,137,604			1,152,760
Total securities		4,389,961			3,412,259
Loans held for sale		123,019			18,695
Portfolio loans, net of unearned income		18,828,626			12,656,429
Allowance for credit losses - loans		(223,866	)		(138,766	)
Net portfolio loans		18,604,760			12,517,663
Premises and equipment, net		274,137			219,076
Accrued interest receivable		106,410			78,324
Goodwill and other intangible assets, net		1,745,170			1,124,016
Bank-owned life insurance		552,051			360,738
Other assets		619,038			385,390
Total Assets	$	27,571,576		$	18,684,298
LIABILITIES
Deposits:
Non-interest bearing demand	$	5,328,181		$	3,842,758
Interest bearing demand		4,865,091			3,771,314
Money market		4,825,154			2,429,977
Savings deposits		3,192,943			2,362,736
Certificates of deposit		2,943,187			1,726,932
Total deposits		21,154,556			14,133,717
Federal Home Loan Bank borrowings		1,750,000			1,000,000
Other short-term borrowings		103,666			192,073
Subordinated debt and junior subordinated debt		357,762			279,308
Total borrowings		2,211,428			1,471,381
Accrued interest payable		25,967			14,228
Other liabilities		360,405			274,691
Total Liabilities		23,752,356			15,894,017
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 $150,000,000, issued and outstanding at June 30, 2025 and December 31, 2024, respectively		144,484			144,484
Common stock, $2.0833 par value; 200,000,000 shares authorized; 95,986,023 and 75,354,034 shares issued; 95,986,023 and 66,919,805 shares outstanding at June 30, 2025 and December 31, 2024, respectively		199,967			156,985
Capital surplus		2,485,458			1,809,679
Retained earnings		1,165,058			1,192,091
Treasury stock (0 and 8,434,229 shares - at cost, respectively)		—			(292,244	)
Accumulated other comprehensive loss		(173,644	)		(218,632	)
Deferred benefits for directors		(2,103	)		(2,082	)
Total Shareholders' Equity		3,819,220			2,790,281
Total Liabilities and Shareholders' Equity	$	27,571,576		$	18,684,298

See Notes to Consolidated Financial Statements.

2

WESBANCO, INC. CONSOLIDATED STATEMENTS OF INCOME

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(unaudited, in thousands, except shares and per share amounts)	2025		2024		2025		2024
INTEREST AND DIVIDEND INCOME
Loans, including fees	$	290,104	$	175,361	$	508,512	$	342,335
Interest and dividends on securities:
Taxable		31,066		16,929		53,314		34,334
Tax-exempt		4,616		4,556		9,145		9,142
Total interest and dividends on securities		35,682		21,485		62,459		43,476
Other interest income		10,596		6,147		18,643		12,516
Total interest and dividend income		336,382		202,993		589,614		398,327
INTEREST EXPENSE
Interest bearing demand deposits		30,405		26,925		59,782		52,516
Money market deposits		36,287		18,443		57,422		34,557
Savings deposits		8,670		7,883		16,029		15,549
Certificates of deposit		21,442		11,982		39,999		22,229
Total interest expense on deposits		96,804		65,233		173,232		124,851
Federal Home Loan Bank borrowings		16,683		16,227		29,718		33,227
Other short-term borrowings		816		896		1,938		1,570
Subordinated debt and junior subordinated debt		5,310		4,044		9,438		8,119
Total interest expense		119,613		86,400		214,326		167,767
NET INTEREST INCOME		216,769		116,593		375,288		230,560
Provision for credit losses		3,218		10,541		72,101		14,555
Net interest income after provision for credit losses		213,551		106,052		303,187		216,005
NON-INTEREST INCOME
Trust fees		9,657		7,303		18,355		15,385
Service charges on deposits		10,484		7,111		19,070		13,895
Digital banking income		7,325		5,040		12,730		9,745
Net swap fee and valuation income		746		1,776		1,706		3,339
Net securities brokerage revenue		3,348		2,601		6,049		5,149
Bank-owned life insurance		3,450		2,791		6,878		4,859
Mortgage banking income		2,364		1,069		3,504		1,762
Net securities gains		1,410		135		1,092		672
Net gain on other real estate owned and other assets		111		34		71		188
Other income		5,062		3,495		9,167		6,990
Total non-interest income		43,957		31,355		78,622		61,984
NON-INTEREST EXPENSE
Salaries and wages		60,153		43,991		108,730		86,988
Employee benefits		18,857		10,579		31,827		22,763
Net occupancy		8,119		6,309		15,897		12,932
Equipment and software		17,140		10,457		30,190		20,465
Marketing		1,864		2,371		4,246		4,256
FDIC insurance		5,479		3,523		9,666		6,971
Amortization of intangible assets		9,204		2,072		13,427		4,164
Restructuring and merger-related expense		41,056		3,777		61,066		3,777
Other operating expenses		24,663		19,313		45,451		37,269
Total non-interest expense		186,535		102,392		320,500		199,585
Income before provision for income taxes		70,973		35,015		61,309		78,404
Provision for income taxes		13,558		6,099		12,886		13,795
Net income		57,415		28,916		48,423		64,609
Preferred stock dividends		2,531		2,531		5,063		5,063
Net income available to common shareholders	$	54,884	$	26,385	$	43,360	$	59,546
EARNINGS PER COMMON SHARE
Basic	$	0.57	$	0.44	$	0.50	$	1.00
Diluted	$	0.57	$	0.44	$	0.50	$	1.00
AVERAGE COMMON SHARES OUTSTANDING
Basic		95,744,980		59,521,872		86,339,970		59,452,315
Diluted		95,808,310		59,656,429		86,466,701		59,592,960
DIVIDENDS DECLARED PER COMMON SHARE	$	0.37	$	0.36	$	0.74	$	0.72

See Notes to Consolidated Financial Statements.

3

WESBANCO, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(unaudited, in thousands)	2025			2024			2025			2024
Net income	$	57,415		$	28,916		$	48,423		$	64,609
Debt securities available-for-sale:
Net change in unrealized gains (losses) on debt securities available-for-sale		24,533			(210	)		61,558			(11,113	)
Related income tax effect		(7,103	)		50			(15,992	)		2,835
Net securities (gains) losses reclassified into earnings		(9	)		12			(50	)		12
Related income tax effect		(207	)		(61	)		(253	)		(119	)
Net effect on other comprehensive income (loss) for the period		17,214			(209	)		45,263			(8,385	)
Defined benefit plans:
Amortization of net gain and prior service costs		(194	)		(101	)		(366	)		(202	)
Related income tax effect		46			24			91			72
Net effect on other comprehensive loss for the period		(148	)		(77	)		(275	)		(130	)
Total other comprehensive income (loss)		17,066			(286	)		44,988			(8,515	)
Comprehensive income	$	74,481		$	28,630		$	93,411		$	56,094

See Notes to Consolidated Financial Statements.

4

WESBANCO, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

	For the Three Months Ended June 30, 2025 and 2024
																	Accumulated
	Preferred		Common Stock														Other			Deferred
(unaudited, in thousands, except	Stock		Shares					Capital			Retained			Treasury			Comprehensive			Benefits for
shares and per share amounts)	Amount		Outstanding			Amount		Surplus			Earnings			Stock			Income (Loss)			Directors			Total
March 31, 2025	$	144,484		95,672,204		$	199,313	$	2,485,223		$	1,145,396		$	—		$	(190,710	)	$	(2,127	)	$	3,781,579
Net income		—		—			—		—			57,415			—			—			—			57,415
Other comprehensive loss		—		—			—		—			—			—			17,066			—			17,066
Comprehensive income		—		—			—		—			—			—			—			—			74,481
Common dividends declared ($0.37 per share)		—		—			—		—			(35,221	)		—			—			—			(35,221	)
Preferred dividends declared ($16.875 per share)		—		—			—		—			(2,532	)		—			—			—			(2,532	)
Stock issued for dividend reinvestment		—		—			—		—			—			—			—			—			—
Treasury shares acquired		—		(51,198	)		—		—			—			—			—			—			—
Stock options exercised		—		5,625			6		54			—			—			—			—			60
Restricted stock granted		—		359,392			648		(2,206	)		—			—			—			—			(1,558	)
Stock compensation expense		—		—			—		2,477			—			—			—			—			2,477
Deferred benefits for directors - net		—		—			—		(90	)		—			—			—			24			(66	)
June 30, 2025	$	144,484		95,986,023		$	199,967	$	2,485,458		$	1,165,058		$	—		$	(173,644	)	$	(2,103	)	$	3,819,220
March 31, 2024	$	144,484		59,395,777		$	141,834	$	1,636,964		$	1,154,307		$	(302,264	)	$	(234,922	)	$	(2,041	)	$	2,538,362
Net income		—		—			—		—			28,916			—			—			—			28,916
Other comprehensive loss		—		—			—		—			—			—			(286	)		—			(286	)
Comprehensive income		—		—			—		—			—			—			—			—			28,630
Common dividends declared ($0.36 per share)		—		—			—		—			(21,214	)		—			—			—			(21,214	)
Preferred dividends declared ($16.875 per share)		—		—			—		—			(2,531	)		—			—			—			(2,531	)
Stock issued for dividend reinvestment		—		6,878			—		—			(261	)		261			—			—			—
Treasury shares acquired		—		(46,696	)		—		—			—			(1,355	)		—			—			(1,355	)
Stock options exercised		—		3,375			—		(52	)		—			128			—			—			76
Restricted stock granted		—		219,976			—		(8,412	)		—			8,412			—			—			—
Stock compensation expense		—		—			—		2,320			—			—			—			—			2,320
Deferred benefits for directors - net		—		—			—		10			—			—			—			(19	)		(9	)
June 30, 2024	$	144,484		59,579,310		$	141,834	$	1,630,830		$	1,159,217		$	(294,818	)	$	(235,208	)	$	(2,060	)	$	2,544,279

5

	For the Six Months Ended June 30, 2025 and 2024
																	Accumulated
	Preferred		Common Stock														Other			Deferred
(unaudited, in thousands, except	Stock		Shares					Capital			Retained			Treasury			Comprehensive			Benefits for
shares and per share amounts)	Amount		Outstanding			Amount		Surplus			Earnings			Stock			Income (Loss)			Directors			Total
December 31, 2024	$	144,484		66,919,805		$	156,985	$	1,809,679		$	1,192,091		$	(292,244	)	$	(218,632	)	$	(2,082	)	$	2,790,281
Net Income		—		—			—		—			48,423			—			—			—			48,423
Other comprehensive income		—		—			—		—			—			—			44,988			—			44,988
Comprehensive income		—		—			—		—			—			—			—			—			93,411
Common dividends declared ($0.74 per share)		—		—			—		—			(70,393	)		—			—			—			(70,393	)
Preferred dividends declared ($16.875 per share)		—		—			—		—			(5,063	)		—			—			—			(5,063	)
Stock issued for Premier Financial Corp. ("PFC") acquisition		—		28,738,104			42,326		673,826			—			291,693			—			—			1,007,845
Treasury shares acquired		—		(63,410	)		—		325			—			(2,063	)		—			—			(1,738	)
Stock options exercised		—		32,132			9		(272	)		—			1,055			—			—			792
Restricted Stock Granted		—		359,392			647		(2,206	)		—			1,559			—			—			—
Stock Option Expense									4,184															4,184
Deferred benefits for directors - net		—		—			—		(78	)		—			—			—			(21	)		(99	)
June 30, 2025	$	144,484		95,986,023		$	199,967	$	2,485,458		$	1,165,058		$	—		$	(173,644	)	$	(2,103	)	$	3,819,220
December 31, 2023	$	144,484		59,376,435		$	141,834	$	1,635,859		$	1,142,586		$	(302,995	)	$	(226,693	)	$	(2,013	)	$	2,533,062
Net income		—		—			—		—			64,609			—			—			—			64,609
Other comprehensive loss		—		—			—		—			—			—			(8,515	)		—			(8,515	)
Comprehensive income		—		—			—		—			—			—			—			—			56,094
Common dividends declared ($0.72 per share)		—		—			—		—			(42,392	)		—			—			—			(42,392	)
Preferred dividends declared ($16.875 per share)		—		—			—		—			(5,063	)		—			—			—			(5,063	)
Stock issued for dividend reinvestment		—		14,058			—		—			(523	)		523			—			—			—
Treasury shares acquired		—		(49,729	)		—		—			—			(1,441	)		—			—			(1,441	)
Stock options exercised		—		8,139			—		(126	)		—			302			—			—			176
Restricted stock granted		—		230,407			—		(8,793	)		—			8,793			—			—			—
Stock compensation expense		—		—			—		3,867			—			—			—			—			3,867
Deferred benefits for directors - net		—		—			—		23			—			—			—			(47	)		(24	)
June 30, 2024	$	144,484		59,579,310		$	141,834	$	1,630,830		$	1,159,217		$	(294,818	)	$	(235,208	)	$	(2,060	)	$	2,544,279

See Notes to Consolidated Financial Statements.

6

WESBANCO, INC. CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

	For the Six Months Ended June 30,
(unaudited, in thousands)	2025			2024
NET CASH PROVIDED BY OPERATING ACTIVITIES	$	78,627		$	82,830
INVESTING ACTIVITIES
Net increase in loans held for investment		(251,350	)		(624,818	)
Available-for-sale debt securities:
Proceeds from sales		873,835			—
Proceeds from maturities, prepayments and calls		264,069			129,661
Purchases of securities		(903,886	)		(51,557	)
Held-to-maturity debt securities:
Proceeds from maturities, prepayments and calls		18,538			18,847
Purchases of securities		(4,279	)		—
Purchases of premises and equipment – net		(11,094	)		(1,897	)
Net cash received from PFC acquisition		200,454			—
Sale of portfolio loans - net		73,893			—
Proceeds from bank owned life insurance		2,301			1
Net cash provided by (used in) investing activities		262,481			(529,763	)
FINANCING ACTIVITIES
Increase in deposits		153,941			263,819
Proceeds from Federal Home Loan Bank borrowings		1,175,000			1,175,000
Repayment of Federal Home Loan Bank borrowings		(925,000	)		(1,050,000	)
Decrease in other short-term borrowings		(88,407	)		(136	)
Principal repayments of finance lease obligations		(2,043	)		(1,665	)
Dividends paid to common shareholders		(59,697	)		(42,351	)
Dividends paid to preferred shareholders		(5,063	)		(5,063	)
Issuance of common stock		104			—
Treasury shares purchased - net		(1,050	)		(1,265	)
Net cash provided by financing activities		247,785			338,339
Net increase (decrease) in cash, cash equivalents and restricted cash		588,893			(108,594	)
Cash, cash equivalents and restricted cash at beginning of the period		568,137			595,383
Cash, cash equivalents and restricted cash at end of the period	$	1,157,030		$	486,789
SUPPLEMENTAL DISCLOSURES
Interest paid on deposits and other borrowings	$	210,316		$	163,530
Income taxes paid		21,480			15,985
Transfers of loans to other real estate owned		—			152
Non-cash transactions related to the PFC acquisition		1,007,845			—

See Notes to Consolidated Financial Statements.

7

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation — The accompanying unaudited interim financial statements of Wesbanco, Inc. and its consolidated subsidiaries (“Wesbanco” or the "Company") have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2024.

Wesbanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), as well as with the policy changes indicated below. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly Wesbanco’s financial position and results of operations for each of the interim periods presented. Certain prior period amounts have been reclassified to conform to the current period presentation. Such reclassifications had no impact on Wesbanco’s net income and shareholders’ equity. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year.

Recent accounting pronouncements—The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) as noted below.

ASU 2025-04 Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606)

In May 2025, the FASB issued ASU 2025-04, “Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606).” The amendments in this Update revise the Master Glossary definition of the term performance condition for share-based consideration payable to a customer. The revised definition incorporates conditions (such as vesting conditions) that are based on the volume or monetary amount of a customer’s purchases (or potential purchases) of goods or services from the grantor (including over a specified period of time). Additionally, the amendments in this Update clarify that a grantor should not apply the guidance in Topic 606 on constraining estimates of variable consideration to share-based consideration payable to a customer. The amendments in this Update are effective for all entities for annual reporting periods (including interim reporting periods within annual reporting periods) beginning after December 15, 2026. Early adoption is permitted for all entities. The adoption of this pronouncement is not expected to have a material impact on the Consolidated Financial Statements.

ASU 2025-03 Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity

In May 2025, the FASB issued ASU 2025-03, “Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity.” The amendments in this update require an entity involved in an acquisition transaction effected primarily by exchanging equity interests when the legal acquiree is a variable interest entity ("VIE") that meets the definition of a business to consider the factors in paragraphs 805-10-55-12 through 55-15 to determine which entity is the accounting acquirer. The amendments in this Update differ from current GAAP because, for certain transactions, they replace the requirement that the primary beneficiary always is the acquirer with an assessment that requires an entity to consider the factors to determine which entity is the accounting acquirer. The amendments in this Update enhance the comparability of financial statements across entities engaging in acquisition transactions effected primarily by exchanging equity interests when the legal acquiree meets the definition of a business. For Wesbanco, the amendments in this Update are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The adoption of this pronouncement is not expected to have a material impact on the Consolidated Financial Statements.

ASU 2025-01 & 2024-03 – Income Statement — Reporting Comprehensive Income –Expense Disaggregation Disclosures (Subtopic 220-40)

In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures.” The amendments in this Update improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This information is generally not presented in the financial statements today. For Wesbanco, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The adoption of this pronouncement is not expected to have a material impact on the Consolidated Financial Statements, but is expected to result in additional disclosures and potential changes to the line items on the Consolidated Statement of Income.

In January 2025, the FASB issued ASU 2025-01, “Income Statement — Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40).” The amendment in this Update amends the effective date of ASU 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted.

ASU 2024-04 – Debt—Debt with Conversion and Other Options (Subtopic 470-20)

In November 2024, the FASB issued ASU 2024-04, “Debt – Debt with Conversion and Other Options (Subtopic 470-20).” The amendments in this Update clarify the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. Under the amendments, to account for a settlement of a convertible debt instrument as an induced conversion, an inducement offer is required to provide the debt holder with, at a minimum, the consideration (in form and amount) issuable under the conversion privileges provided in

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the terms of the instrument. For Wesbanco, the amendments in this Update are effective for all entities for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities that have adopted the amendments in Update 2020-06. The amendments in this Update permit an entity to apply the new guidance on either a prospective or a retrospective basis. The adoption of this pronouncement is not expected to have a material impact on the Consolidated Financial Statements.

ASU 2024-01 – Compensation – Stock Compensation (Topic 718)

In March 2024, the FASB issued ASU 2024-01, “Stock Compensation (Topic 718).” The amendments in this Update are designed to improve GAAP by adding an illustrative example that includes four fact patterns to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether a profits interest award should be accounted for in accordance with Topic 718. The illustrative example is intended to reduce (1) complexity in determining whether a profits interest award is subject to the guidance in Topic 718 and (2) existing diversity in practice. For Wesbanco, the amendments are effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. If an entity adopts the amendments in an interim period, it should adopt them as of the beginning of the annual period that includes that interim period. This accounting pronouncement is currently not applicable for Wesbanco.

ASU 2023-09 – Income Taxes (Topic 740): Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740)." The amendments in this Update related to the rate reconciliation and income taxes paid disclosures and are designed to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. For Wesbanco, the amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The adoption of this pronouncement is not expected to have a material impact on the Consolidated Financial Statements, but will result in additional disclosures within the Notes to the Consolidated Financial Statements.

ASU 2023-07—Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

In November 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures (Topic 280).” The amendments in this Update improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this Update do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. For Wesbanco, the amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The adoption of this pronouncement did not have a material impact on the Consolidated Financial Statements, but has resulted in additional disclosures within the Notes to the Consolidated Financial Statements related to segment reporting. Please refer to Footnote 14, "Business Segments" for additional information.

ASU 2023-06 - Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative

In October 2023, the FASB issued ASU 2023-06, "Disclosure Improvements." For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The adoption of this pronouncement is not expected to have a material impact on the Consolidated Financial Statements.

ASU 2023-05 – Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement

In August 2023, the FASB issued ASU 2023-05, "Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement," under which an entity that qualifies as either a joint venture or a corporate joint venture as defined in the FASB Accounting Standards Codification ("ASC") master glossary is required to apply a new basis of accounting upon the formation of the joint venture. Specifically, the ASU provides that a joint venture or a corporate joint venture (collectively, “joint ventures”) must initially measure its assets and liabilities at fair value on the formation date. For Wesbanco, the amendments are effective for all joint ventures within the ASU’s scope that are formed on or after January 1, 2025. Early adoption is permitted in any annual or interim period as of the beginning of the related fiscal year. This accounting pronouncement is currently not applicable for Wesbanco.

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NOTE 2. MERGERS AND ACQUISITIONS

On February 28, 2025, Wesbanco completed its acquisition of Premier Financial Corp. ("PFC"), a bank holding company headquartered in Defiance, OH. On the acquisition date, PFC had approximately $7.9 billion in assets, excluding goodwill and intangible assets, which included approximately $5.9 billion in portfolio loans and $1.2 billion in investment securities. The PFC acquisition was valued at $1.0 billion, based on Wesbanco's closing stock price per share on February 28, 2025 of $35.07, and resulted in all of PFC's outstanding common shares outstanding immediately prior to the effectiveness of the acquisition, as well as certain of PFC's outstanding equity awards, converting into the right to receive 28,738,104 shares of Wesbanco common stock in the aggregate, of which 20,316,670 were newly issued shares and 8,421,434 were treasury shares. Following completion of the acquisition, PFC shareholders represent approximately 30% of the voting interests in Wesbanco. With the acquisition of PFC, Wesbanco acquired 73 branches and increased its market share in Ohio, while expanding into contiguous markets in northwestern Ohio and Michigan. The assets and liabilities of PFC were recorded on Wesbanco's balance sheets at their preliminary estimated fair values as of February 28, 2025, the acquisition date, and PFC's results of operations have been included in Wesbanco's Consolidated Statements of Income since that date. Based on a preliminary purchase price allocation, Wesbanco recorded $476.2 million in goodwill and $151.5 million in core deposit intangibles in its Community Banking segment, and $6.9 million in customer list intangibles in its Trust and Investment Services segment, which reflects the expected synergies and economies of scale resulting from the acquisition. None of the goodwill is deductible for income tax purposes as the acquisition is accounted for as a tax-free exchange for tax purposes. As a result of the integration of the operations of PFC, it is not practicable to determine revenue or net income included in Wesbanco’s operating results relating to PFC since the date of acquisition, as PFC's results cannot be separately identified. For the three and six months ended June 30, 2025, Wesbanco recorded merger-related expenses of $32.5 million and $53.4 million, respectively, associated with the PFC acquisition.

The preliminary purchase price of the PFC acquisition and resulting goodwill is summarized as follows:

(unaudited, in thousands)	February 28, 2025
Purchase price:
Fair value of Wesbanco shares issued	$	1,007,845
Cash consideration for outstanding PFC shares		138
Total purchase price	$	1,007,983
Fair value of:
Tangible assets acquired	$	7,734,236
Core deposit and other intangible assets acquired		158,406
Liabilities assumed		(7,561,426	)
Net cash received in the acquisition		200,592
Fair value of net assets acquired		531,808
Goodwill recognized	$	476,175

The PFC acquisition was accounted for under the acquisition method of accounting. Assets acquired and liabilities assumed in the acquisition were recorded at their respective acquisition date estimated fair values. These estimates were recorded based on initial valuations available at the acquisition date, and these estimates, including initial accounting for deferred taxes, are considered preliminary as of June 30, 2025, and subject to adjustment for up to one year after the acquisition date. In many cases, the determination of fair value required management to make estimates about discount rates, expected future cash flows, market conditions and other future events that are highly subjective in nature and subject to change. While the Company believes that the information available on the acquisition date provided a reasonable basis for estimating fair value, additional information may be obtained during the measurement period that would result in changes to the estimated fair value amounts. The measurement period ends on the earlier of one year after the acquisition date or the date the Company concludes that all necessary information about the facts and circumstances that existed as of the acquisition date have been obtained. Management anticipates that facts obtained during the measurement period could result in adjustments to the valuation amounts presented herein.

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The following table presents the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:

(unaudited, in thousands)	February 28, 2025
Total merger consideration			$	1,007,983
Fair value of assets acquired
Cash and due from banks	$	200,592
Equity securities		14,601
Available-for-sale debt securities		1,149,980
Loans held for sale		170,952
Net portfolio loans		5,888,966
Premises and equipment		59,046
Accrued interest receivable		33,804
Intangible assets		158,406
Bank-owned life insurance		186,736
Deferred taxes		97,814
Other assets		132,337
Total assets acquired	$	8,093,234
Fair value of liabilities assumed
Deposits	$	6,873,447
FHLB borrowings		502,028
Subordinated debt and junior subordinated debt		80,606
Accrued interest payable		3,620
Other liabilities		101,725
Total liabilities assumed	$	7,561,426
Net assets acquired			$	531,808
Goodwill			$	476,175

The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of March 31, 2025:

(unaudited, in thousands)	February 28, 2025
Goodwill recognized as of March 31, 2025	$	483,397
Change in fair value of net assets acquired:
Assets
Investment securities		(6	)
Loans held for sale		(28,019	)
Net portfolio loans		36,843
Intangible assets		6,892
Premises and equipment		(4,345	)
Deferred tax assets		(1,364	)
Accrued income and other assets		(1,875	)
Liabilities
Borrowings		—
Accrued expenses and other liabilities		(904	)
Fair value of net assets acquired	$	7,222
Decrease in goodwill recognized		(7,222	)
Goodwill recognized as of June 30, 2025	$	476,175

The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above.

Cash and due from banks – The carrying amount of these items is a reasonable estimate of their fair value based on the short-term nature of these assets.

Investment securities – The fair value of equity securities are determined by obtaining quoted prices on nationally recognized securities exchanges. The fair value of available-for-sale debt securities are determined by obtaining quoted prices or by using matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. Valuations of positions that are not traded in active markets, which consist of certain specific private placement municipal debt issues, are generated using assumptions not observable in the market or management’s best estimate for which the credit quality and discount rate must be estimated. The actual sales prices of securities were used as the fair value for those securities sold in March 2025, immediately following the acquisition date, rather than the quoted market price as sales prices were determined to be the best indicator of fair value as of the acquisition date.

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Loans held for sale – Commercial loans in the loans held for sale portfolio were recorded at fair value based on estimated bids from third parties. For residential loans held for sale, the use of a valuation model using quoted prices of similar instruments were significant inputs in arriving at the fair value.

Net portfolio loans – A valuation of the portfolio loans was performed by a third party as of the acquisition date to assess the fair value. The portfolio was segmented into three groups, including performing purchased credit deteriorated ("PCD") loans, non-accrual PCD loans and non-PCD loans. The loans were further pooled based on loan type and interest rate terms. The loans were valued at the pool level using a discounted cash flow methodology. The methodology included projecting cash flows based on the contractual terms of the loans and the cash flows were adjusted to reflect credit loss expectations along with prepayments. Discount rates were developed based on the relative risk of the cash flows, taking into consideration the loan type, market rates as of the valuation date, recent originations in the portfolio, credit loss expectations, and liquidity expectations. Lastly, cash flows adjusted for credit loss expectations were discounted to present value and summed to arrive at the fair value of the loans.

Loans acquired in the PFC acquisition were reviewed to identify any that had experienced a more-than-insignificant deterioration in credit quality since origination. Loans that met established criteria indicating such deterioration are classified as purchased credit deteriorated ("PCD") loans. These loans are recorded at the purchase price net of expected allowance for credit losses at the time of acquisition. In addition, a non-credit discount or premium is allocated to the PCD loans based on a valuation by a third-party specialist. Under this method, the acquired PCD loans do not incur a provision for credit losses affecting net income at acquisition. However, changes to the allowance for these PCD loans in subsequent periods would be recognized through the provision for credit losses.

Of the $5.9 billion in loans held for investment acquired from PFC, $5.7 billion were identified as non-PCD and $0.2 billion were identified as PCD. The non-PCD loans have an amortized cost of $6.0 billion and interest and credit marks that total $0.3 billion. The PCD loans are summarized in the following table:

(unaudited, in thousands)
Amortized cost of acquired PCD loans	$	247,641
Allowance on PCD at acquisition (1)		(20,179	)
Non-credit discount on PCD		(19,453	)
Fair value price of PCD loans	$	208,009

(1) The allowance on PCD loans at acquisition date decreased $8.9 million as compared to what was previously reported due to refinements in the allowance calculation.

Premises and equipment - The fair values of premises are based on a market approach by obtaining third-party appraisals and broker opinions of value for land, office and branch space.

Core deposit intangible – The core deposit intangible represents the low cost of funding acquired core deposits provide relative to the Company’s marginal cost of funds. The fair value was estimated based on a cost savings methodology that gave consideration to expected customer attrition rates, net maintenance cost of the deposit base, interest costs associated with customer deposits, and the alternative cost of funds. The estimated fair value was grossed-up for the expected tax amortization benefit. The intangible asset is being amortized over 10 years using an accelerated method, based upon the period over which estimated economic benefits are estimated to be received.

Deposits – The fair values used for demand, savings and money market deposits are equal to the amount payable on demand at the acquisition date. The fair value of time deposits is estimated by discounting the estimated future cash flows using current rates offered for deposits with similar remaining maturities.

FHLB Borrowings – The fair value of Federal Home Loan Bank ("FHLB") advances is estimated by discounting the estimated future cash flows using rates currently available to the Company for debt with similar remaining maturities.

Subordinated debt and junior subordinated debt – The fair value of subordinated debt and junior subordinated debt is estimated by discounting the estimated future cash flows by using comparable corporate bond indices and swap rates from the financial services sector and factoring in the applicable credit spreads and optional early redemption provisions.

The operating results of the Company include the operating results produced by the acquired assets and assumed liabilities in the acquisition for the period March 1, 2025 to June 30, 2025.

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The following table presents unaudited pro forma information as if the acquisition had occurred on January 1, 2024. The pro forma adjustments give effect to any change in interest income due to the accretion of the discount associated with the fair value adjustments to acquired loans, any change in interest expense due to estimated premium amortization/discount accretion associated with the fair value adjustment to acquired interest-bearing deposits, borrowings and long-term debt and the amortization of the core deposit intangible that would have resulted had the deposits been acquired as of January 1, 2024. The pro forma information is not indicative of what would have occurred had the acquisition occurred as of the beginning of the year prior to the acquisition date. The pro forma amounts below do not reflect any adjustments to the provision for credit losses for acquired loans, or the Company's expectations as of the date of the pro forma information of further operating cost savings and other business synergies expected to be achieved, including revenue growth as a result of the acquisition. As a result, actual amounts differed from the unaudited pro forma information presented.

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(unaudited, in thousands)	2025 (1)		2024 (2)		2025 (3)		2024 (4)
Net interest income	$	201,495	$	186,203	$	403,796	$	374,677
Non-interest income		45,324		43,433		90,648		86,558
Net income	$	69,988	$	52,996	$	140,613	$	117,971

(1) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $7.2 million for the three months ended June 30, 2025.

(2) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $10.4 million for the three months ended June 30, 2024.

(3) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $15.0 million for the six months ended June 30, 2025.

(4) Includes the net impact of after-tax purchase accounting accretion adjustments from the PFC acquisition totaling $24.5 million for the six months ended June 30, 2024.

NOTE 3. EARNINGS PER COMMON SHARE

Earnings per common share are calculated as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(unaudited, in thousands, except shares and per share amounts)	2025		2024		2025		2024
Numerator for both basic and diluted earnings per common share:
Net income available to common shareholders	$	54,884	$	26,385	$	43,360	$	59,546
Denominator:
Total average basic common shares outstanding		95,744,980		59,521,872		86,339,970		59,452,315
Effect of dilutive stock options and other stock compensation		63,330		134,557		126,731		140,645
Total diluted average common shares outstanding		95,808,310		59,656,429		86,466,701		59,592,960
Earnings per common share - basic	$	0.57	$	0.44	$	0.50	$	1.00
Earnings per common share - diluted	$	0.57	$	0.44	$	0.50	$	1.00

As of June 30, 2025 and 2024, 426,586 and 634,751 options to purchase shares were not included in the diluted share computation for the three and six months ended June 30, 2025 and 2024, respectively, because the exercise price was greater than the average market price of a common share, and, therefore, the effect would be antidilutive.

As of June 30, 2025, 24,000 shares were estimated to be awarded under the 2025, 2024 and 2023 total shareholder return ("TSR") plans and were included in the diluted calculation as stock performance targets had been met. As of June 30, 2024, no shares were estimated to be awarded under the 2024, 2023 and 2022 TSR plans and were not included in the diluted calculation as stock performance targets had not been met as of such date and therefore the effect would be antidilutive.

In addition, 46,407 shares of performance-based restricted stock was included in the diluted calculation as of June 30, 2025 because the performance criteria was met. Similarly, at June 30, 2024, 104,594 shares were estimated to be awarded and are included in the diluted calculation.

As previously disclosed, in conjunction with the announcement of the acquisition of PFC, on August 1, 2024, Wesbanco issued 7,272,728 shares of common stock to complete a $200 million common equity capital raise. This equity issuance was primarily to support the pro-forma bank's balance sheet and regulatory capital ratios. As well, 28,738,104 shares were needed as merger consideration to complete the PFC acquisition on February 28, 2025. To accomplish this, Wesbanco used 8,421,434 shares of Treasury stock and 20,316,670 newly-issued common shares. These shares are included in the average shares outstanding beginning on those dates mentioned. For additional information relating to the PFC acquisition, refer to Note 2, “Mergers and Acquisitions.”

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NOTE 4. SECURITIES

The following table presents the fair value and amortized cost of available-for-sale and held-to-maturity debt securities:

	June 30, 2025									December 31, 2024
(unaudited, in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury	$	195,488	$	59	$	(35	)	$	195,512	$	146,113	$	63	$	(63	)	$	146,113
U.S. Government sponsored entities and agencies		230,822		26		(23,601	)		207,247		224,944		—		(30,702	)		194,242
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		2,655,694		6,145		(211,457	)		2,450,382		1,850,284		245		(257,088	)		1,593,441
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		155,071		154		(3,374	)		151,851		235,873		51		(4,142	)		231,782
Asset backed securities		72,546		31		(642	)		71,935		—		—		—			—
Obligations of states and political subdivisions		84,806		61		(2,886	)		81,981		71,919		25		(3,324	)		68,620
Corporate debt securities		63,733		349		(171	)		63,911		11,974		—		(100	)		11,874
Total available-for-sale debt securities	$	3,458,160	$	6,825	$	(242,166	)	$	3,222,819	$	2,541,107	$	384	$	(295,419	)	$	2,246,072
Held-to-maturity debt securities
U.S. Government sponsored entities and agencies	$	2,641	$	—	$	(178	)	$	2,463	$	2,988	$	—	$	(260	)	$	2,728
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		29,896		—		(1,969	)		27,927		32,803		—		(2,754	)		30,049
Obligations of states and political subdivisions		1,089,173		281		(129,817	)		959,637		1,098,957		164		(143,130	)		955,991
Corporate debt securities		16,072		43		(32	)		16,083		18,158		—		(109	)		18,049
Total held-to-maturity debt securities (1)	$	1,137,782	$	324	$	(131,996	)	$	1,006,110	$	1,152,906	$	164	$	(146,253	)	$	1,006,817
Total debt securities	$	4,595,942	$	7,149	$	(374,162	)	$	4,228,929	$	3,694,013	$	548	$	(441,672	)	$	3,252,889

(1)Total held-to-maturity debt securities are presented on the balance sheet net of their allowance for credit losses totaling $0.2 million and $0.1 million at June 30, 2025 and December 31, 2024, respectively.

At June 30, 2025 and December 31, 2024, there were no holdings of any one issuer, other than U.S. government sponsored entities and its agencies, in an amount greater than 10% of Wesbanco’s shareholders’ equity. Equity securities, of which $27.0 million and $10.9 million at June 30, 2025 and December 31, 2024, respectively, consist of investments in various mutual funds held in grantor trusts formed in connection with the Company’s deferred compensation plan, are recorded at fair value, and totaled $29.5 million and $13.4 million at June 30, 2025 and December 31, 2024, respectively.

The following table presents the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by contractual maturity date at June 30, 2025. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay debt obligations with or without prepayment penalties. Mortgage-backed securities and collateralized mortgage obligations are classified in the table below based on their contractual maturity date; however, regular principal payments and prepayments of principal are received on a monthly basis.

(unaudited, in thousands)	Amortized Cost		Fair Value
Available-for-sale debt securities
Within one year	$	213,602	$	213,581
After 1 year through 5 years		251,380		247,358
After 5 years through 10 years		195,460		185,130
After 10 years		2,797,718		2,576,750
Total available-for-sale debt securities	$	3,458,160	$	3,222,819
Held-to-maturity debt securities
Within one year	$	34,551	$	34,511
After 1 year through 5 years		144,258		141,703
After 5 years through 10 years		529,219		482,086
After 10 years		429,754		347,810
Total held-to-maturity debt securities	$	1,137,782	$	1,006,110
Total debt securities	$	4,595,942	$	4,228,929

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Securities with an aggregate carrying value of $2.9 billion and $2.2 billion at June 30, 2025 and December 31, 2024, respectively, were pledged as security for public and trust funds, and securities sold under agreements to repurchase. Proceeds from the sale of available-for-sale securities for the six months ended June 30, 2025 totaled $873.8 million. There were no security sales that occurred in the six months ended June 30, 2024. Net unrealized losses on available-for-sale securities included in accumulated other comprehensive income, net of tax, as of June 30, 2025 and December 31, 2024 were $178.5 million and $223.8 million, respectively.

The following table presents the gross realized gains and losses on sales and calls of available-for-sale and held-to-maturity debt securities, as well as gains and losses on equity securities from both sales and market adjustments, for the three and six months ended June 30, 2025 and 2024, respectively. All gains and losses presented in the table below are included in the net securities gains (losses) line item of the consolidated income statement. For those equity securities relating to the key officer and director deferred compensation plan, the corresponding change in the obligation to the participant is recognized in employee benefits expense.

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(unaudited, in thousands)	2025			2024			2025			2024
Debt securities:
Gross realized gains	$	17		$	—		$	218		$	—
Gross realized losses		(7	)		(12	)		(169	)		(12	)
Net gains (losses) on debt securities		10			(12	)		49			(12	)
Equity securities:
Net unrealized gains recognized on securities still held		1,400			147			1,043			684
Net securities gains	$	1,410		$	135		$	1,092		$	672

The corporate and municipal bonds in Wesbanco’s held-to-maturity debt portfolio are analyzed quarterly to determine if an allowance for current expected credit losses is warranted. Wesbanco uses a database of historical financials of all corporate and municipal issuers and actual historic default and recovery rates on rated and non-rated transactions to estimate expected credit losses on an individual security basis. The expected credit losses are adjusted quarterly and are recorded in an allowance for expected credit losses on the balance sheet, which is deducted from the amortized cost basis of the held-to-maturity portfolio as a contra asset. The losses are recorded on the consolidated income statement in the provision for credit losses. Accrued interest receivable on held-to-maturity securities, which was $8.2 million and $8.4 million as of June 30, 2025 and December 31, 2024, respectively, is excluded from the estimate of credit losses. Held-to-maturity investments in U.S. Government sponsored entities and agencies as well as mortgage-backed securities and collateralized mortgage obligations, which are all either issued by a direct governmental entity or a government-sponsored entity, have no historical evidence supporting expected credit losses; therefore, Wesbanco has estimated these losses at zero, and will monitor this assumption in the future for any economic or governmental policies that could affect this assumption.

The following table provides a roll-forward of the allowance for credit losses on held-to-maturity securities for the six months ended June 30, 2025 and 2024:

	Allowance for Credit Losses By Category
	For the Six Months Ended June 30, 2025 and 2024
	Obligations of
	states and			Corporate
	political			debt
(unaudited, in thousands)	subdivisions			Securities			Total
Balance at December 31, 2024	$	124		$	22		$	146
Current period provision (1)		17			15			32
Write-offs		—			—			—
Recoveries		—			—			—
Balance at June 30, 2025	$	141		$	37		$	178
.
Balance at December 31, 2023	$	160		$	32		$	192
Current period provision (1)		(12	)		(17	)		(29	)
Write-offs		—			—			—
Recoveries		—			—			—
Balance at June 30, 2024	$	148		$	15		$	163

(1) The total provision for credit losses on held-to-maturity securities is reported in the consolidated statements of income in the provision for credit losses line item, which also includes the provision for credit losses - loans and loan commitments. For more information on the provision relating to loans and loan commitments, please see Note 5, "Loans and the Allowance for Credit Losses."

15

The following tables provide information on unrealized losses on available-for-sale debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more, for which an allowance for credit losses has not been recorded, as of June 30, 2025 and December 31, 2024, respectively:

	June 30, 2025
	Less than 12 months							12 months or more							Total
(unaudited, dollars in thousands)	Fair Value		Unrealized Losses			# of Securities		Fair Value		Unrealized Losses			# of Securities		Fair Value		Unrealized Losses			# of Securities
U.S. Treasury	$	98,756	$	(35	)		3	$	—	$	—			—	$	98,756	$	(35	)		3
U.S. Government sponsored entities and agencies		—		—			—		193,534		(23,601	)		43		193,534		(23,601	)		43
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		224,629		(1,290	)		54		1,351,335		(210,167	)		440		1,575,964		(211,457	)		494
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		6,750		(7	)		3		125,035		(3,367	)		37		131,785		(3,374	)		40
Asset backed securities		61,449		(642	)		12		—		—			—		61,449		(642	)		12
Obligations of states and political subdivisions		15,961		(281	)		24		40,868		(2,605	)		68		56,829		(2,886	)		92
Corporate debt securities		27,791		(138	)		20		5,447		(33	)		2		33,238		(171	)		22
Total	$	435,336	$	(2,393	)		116	$	1,716,219	$	(239,773	)		590	$	2,151,555	$	(242,166	)		706

	December 31, 2024
	Less than 12 months							12 months or more							Total
(dollars in thousands)	Fair Value		Unrealized Losses			# of Securities		Fair Value		Unrealized Losses			# of Securities		Fair Value		Unrealized Losses			# of Securities
U.S. Treasury	$	48,846	$	(63	)		2	$	—	$	—			—	$	48,846	$	(63	)		2
U.S. Government sponsored entities and agencies		—		—			—		194,242		(30,702	)		43		194,242		(30,702	)		43
Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		149,466		(1,742	)		32		1,408,115		(255,346	)		447		1,557,581		(257,088	)		479
Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies		9,919		(7	)		1		193,085		(4,135	)		50		203,004		(4,142	)		51
Obligations of states and political subdivisions		10,728		(133	)		8		48,038		(3,191	)		84		58,766		(3,324	)		92
Corporate debt securities		4,479		(21	)		4		7,395		(79	)		2		11,874		(100	)		6
Total	$	223,438	$	(1,966	)		47	$	1,850,875	$	(293,453	)		626	$	2,074,313	$	(295,419	)		673

Unrealized losses on debt securities in the table above represent temporary fluctuations resulting from changes in market rates in relation to fixed yields. Unrealized losses in the available-for-sale portfolio are accounted for as an adjustment, net of taxes, to other comprehensive income in shareholders’ equity. Wesbanco does not believe the securities presented above are impaired due to reasons of credit quality, as substantially all debt securities are rated above investment grade and all are paying principal and interest according to their contractual terms. Wesbanco does not intend to sell, nor is it more likely than not that it will be required to sell, loss position securities prior to recovery of their cost; therefore, management believes the unrealized losses detailed above do not require an allowance for credit losses relating to these securities to be recognized. Securities that do not have readily determinable fair values and for which Wesbanco does not exercise significant influence are carried at cost. Cost method investments consist primarily of FHLB stock totaling $82.4 million and $48.2 million at June 30, 2025 and December 31, 2024, respectively, and are included in other assets in the Consolidated Balance Sheets. Cost method investments are evaluated for impairment whenever events or circumstances suggest that their carrying value may not be recoverable.

16

NOTE 5. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES

The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. Net deferred loan costs were $13.6 million and $11.9 million at June 30, 2025 and December 31, 2024, respectively. The unaccreted discount on purchased loans from acquisitions was $328.1 million at June 30, 2025 and $10.5 million at December 31, 2024.

	June 30,		December 31,
(unaudited, in thousands)	2025		2024
Commercial real estate:
Land and construction	$	1,732,088	$	1,352,083
Improved property		8,868,122		5,974,598
Total commercial real estate		10,600,210		7,326,681
Commercial and industrial		2,819,096		1,787,277
Residential real estate		3,939,796		2,520,086
Home equity		1,052,334		821,110
Consumer		417,190		201,275
Total portfolio loans		18,828,626		12,656,429
Loans held for sale		123,019		18,695
Total loans	$	18,951,645	$	12,675,124

Allowance for Credit Losses

The allowance for credit losses under the current expected credit losses methodology is calculated on non-PCD loans utilizing the probability of default ("PD") divided by the loss given default ("LGD"), which is then discounted to net present value. PD is the probability the asset will default within a given time frame and LGD is the percentage of the asset not expected to be collected due to default. The primary macroeconomic drivers of the quantitative model include forecasts of national unemployment and interest rates, as well as modeling adjustments for changes in prepayment speeds, portfolio mix, concentrations and loan growth. At June 30, 2025, the primary driver of the change in the allowance model calculation from December 31, 2024 was the initial allowance on the loans acquired in the PFC transaction. Also impacting the allowance were adjustments in regional macroeconomic factors and loan concentrations, increases to specific reserves on individually-evaluated loans and an increase in net charge-offs. The forecast was based upon a probability weighted approach which is designed to incorporate loss projections from a baseline, upside and downside economy. Due to the nonlinearity of credit losses to the economy, the asymmetry is best captured by evaluating multiple economic scenarios through a probability weighted approach. At quarter-end, national unemployment was projected to be 4.6%, and subsequently increase to an average of 5.2% over the remainder of the forecast period. In addition to the quantitative and qualitative changes noted above, the allowance is reflective of $7.1 million in net charge-offs recorded during the first six months of 2025. Accrued interest receivable for loans was $87.9 million and $62.2 million at June 30, 2025 and December 31, 2024, respectively. Wesbanco made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses because the Company has a policy in place to reverse or write-off accrued interest when loans are placed on non-accrual. However, due to their unique nature, Wesbanco may reserve on the accrued interest related to individually-evaluated loans when applicable — there was no such reserve at June 30, 2025. In addition, Wesbanco also has a $0.1 million reserve on the accrued interest related to loan modifications allowed under the Coronavirus Aid, Relief and Economic Security ("CARES") Act due to the timing and nature of these modifications. Accrued interest related to COVID-19 loan modifications as permitted under the CARES Act was $13.8 million and $13.9 million at June 30, 2025 and December 31, 2024, respectively.

17

The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio:

	Allowance for Credit Losses By Category
	For the Six Months Ended June 30, 2025 and 2024
(unaudited, in thousands)	Commercial Real Estate - Land and Construction			Commercial Real Estate- Improved Property			Commercial & Industrial			Residential Real Estate			Home Equity			Consumer			Deposit Overdrafts (1)			Total
Balance at December 31, 2024
Allowance for credit    losses - loans	$	8,411		$	59,828		$	42,398		$	21,790		$	1,235		$	3,391		$	1,713		$	138,766
Allowance for credit    losses - loan commitments		5,105			—			—			1,015			—			—			—			6,120
Total beginning allowance for credit    losses - loans and loan    commitments		13,516			59,828			42,398			22,805			1,235			3,391			1,713			144,886
Initial allowance for credit    losses on acquired PCD loans		177			5,951			7,160			3,192			604			3,095			—			20,179
Provision for credit losses:
Provision for loan losses		2,317			34,027			16,833			9,745			959			6,476			1,664			72,021
Provision for loan commitments		254			—			—			(206	)		—			—			—			48
Total provision for credit    losses - loans and loan    commitments (2)		2,571			34,027			16,833			9,539			959			6,476			1,664			72,069
Charge-offs		—			(678	)		(3,821	)		(412	)		(817	)		(3,283	)		(1,364	)		(10,375	)
Recoveries		11			116			1,367			199			236			1,038			308			3,275
Net recoveries (charge-offs) (3)		11			(562	)		(2,454	)		(213	)		(581	)		(2,245	)		(1,056	)		(7,100	)
Balance at June 30, 2025
Allowance for credit    losses - loans		10,916			99,244			63,937			34,514			2,217			10,717			2,321			223,866
Allowance for credit    losses - loan commitments		5,359			—			—			809			—			—			—			6,168
Total ending allowance for credit    losses - loans and loan    commitments	$	16,275		$	99,244		$	63,937		$	35,323		$	2,217		$	10,717		$	2,321		$	230,034
Balance at December 31, 2023
Allowance for credit    losses - loans	$	7,123		$	59,351		$	36,644		$	21,218		$	1,017		$	3,956		$	1,366		$	130,675
Allowance for credit    losses - loan commitments		6,894			—			429			1,276			5			—			—			8,604
Total beginning allowance for credit    losses - loans and loan    commitments		14,017			59,351			37,073			22,494			1,022			3,956			1,366			139,279
Provision for credit losses:
Provision for loan losses		1,516			(402	)		9,726			1,342			203			773			833			13,991
Provision for loan commitments		1,046			—			(429	)		(22	)		(5	)		—			—			590
Total provision for credit    losses - loans and loan    commitments (2)		2,562			(402	)		9,297			1,320			198			773			833			14,581
Charge-offs		(813	)		(815	)		(6,072	)		(272	)		(413	)		(1,980	)		(861	)		(11,226	)
Recoveries		—			443			1,107			115			297			894			213			3,069
Net (charge-offs) recoveries		(813	)		(372	)		(4,965	)		(157	)		(116	)		(1,086	)		(648	)		(8,157	)
Balance at June 30, 2024
Allowance for credit    losses - loans		7,826			58,577			41,405			22,403			1,104			3,643			1,551			136,509
Allowance for credit    losses - loan commitments		7,940			—			—			1,254			—			—			—			9,194
Total ending allowance for credit    losses - loans and loan    commitments	$	15,766		$	58,577		$	41,405		$	23,657		$	1,104		$	3,643		$	1,551		$	145,703

(1) Deposit overdrafts of $8.5 million and $4.6 million are included in total portfolio loans for the periods ending June 30, 2025 and June 30, 2024, respectively.

(2) The total provision for credit losses - loans and loan commitments is reported in the consolidated statements of income in the provision for credit losses line item, which also includes the provision for credit losses on held-to-maturity securities. For more information on the provision relating to held-to-maturity securities, please see Note 4, "Securities."

(3) The charge-offs on the acquired PFC loan portfolio prior to the acquisition were $22.7 million.

18

The following tables present the allowance for credit losses and recorded investments in loans by category, as of each period-end:

	Allowance for Credit Losses and Recorded Investment in Loans
(unaudited, in thousands)	Commercial Real Estate- Land and Construction		Commercial Real Estate- Improved Property		Commercial and Industrial		Residential Real Estate		Home Equity		Consumer		Deposit Overdrafts (1)		Total
June 30, 2025
Allowance for credit losses:
Loans individually-evaluated	$	—	$	17,005	$	6,054	$	—	$	—	$	—	$	—	$	23,059
Loans collectively-evaluated		10,916		82,239		57,883		34,514		2,217		10,717		2,321		200,807
Loan commitments (2)		5,359		—		—		809		—		—		—		6,168
Total allowance for credit    losses - loans and commitments	$	16,275	$	99,244	$	63,937	$	35,323	$	2,217	$	10,717	$	2,321	$	230,034
Portfolio loans:
Individually-evaluated for credit    losses	$	—	$	36,819	$	6,965	$	—	$	—	$	—	$	—	$	43,784
Collectively-evaluated for credit    losses		1,732,088		8,831,303		2,812,131		3,939,796		1,052,334		417,190		—		18,784,842
Total portfolio loans	$	1,732,088	$	8,868,122	$	2,819,096	$	3,939,796	$	1,052,334	$	417,190	$	—	$	18,828,626
December 31, 2024
Allowance for credit losses:
Loans individually-evaluated	$	—	$	12,461	$	5,353	$	—	$	—	$	—	$	—	$	17,814
Loans collectively-evaluated		8,411		47,367		37,045		21,790		1,235		3,391		1,713		120,952
Loan commitments (2)		5,105		—		—		1,015		—		—		—		6,120
Total allowance for credit    losses - loans and commitments	$	13,516	$	59,828	$	42,398	$	22,805	$	1,235	$	3,391	$	1,713	$	144,886
Portfolio loans:
Individually-evaluated for credit    losses	$	—	$	45,224	$	7,116	$	—	$	—	$	—	$	—	$	52,340
Collectively-evaluated for credit    losses		1,352,083		5,929,374		1,780,161		2,520,086		821,110		201,275		—		12,604,089
Total portfolio loans	$	1,352,083	$	5,974,598	$	1,787,277	$	2,520,086	$	821,110	$	201,275	$	—	$	12,656,429

(1) Deposit overdrafts of $8.5 million and $13.8 million are included in total portfolio loans for the periods ending June 30, 2025 and December 31, 2024, respectively.

(2) For additional detail relating to loan commitments, see Note 13, "Commitments and Contingent Liabilities."

Commercial Loan Risk Grades

Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at inception and adjusted thereafter at any time to reflect changes in the risk profile throughout the life of each loan. The primary factors used to determine the risk grade are the sufficiency, reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. The rating system more heavily weights the debt service coverage, leverage and loan to value factors to derive the risk grade. Other factors that are considered at a lesser weighting include management, industry or property type risks, payment history, collateral or guarantees.

Commercial real estate – land and construction consists of loans to finance investments in vacant land, land development, construction of residential housing, and construction of commercial buildings. Commercial real estate – improved property consists of loans for the purchase or refinance of all types of improved owner-occupied and investment properties. Factors that are considered in assigning the risk grade vary depending on the type of property financed. The risk grade assigned to construction and development loans is based on the overall viability of the project, the experience and financial capacity of the developer or builder to successfully complete the project, project specific and market absorption rates and comparable property values, and the amount of pre-sales for residential housing construction or pre-leases for commercial investment property. The risk grade assigned to commercial investment property loans is based primarily on the adequacy of the net operating income generated by the property to service the debt (“debt service coverage”), the loan to appraised value, the type, quality, industry and mix of tenants, and the terms of leases. The risk grade assigned to owner-occupied commercial real estate is based primarily on global debt service coverage and the leverage of the business, but may also consider the industry in which the business operates, the business’ specific competitive advantages or disadvantages, collateral margins and the quality and experience of management.

Commercial and industrial (“C&I”) loans consist of revolving lines of credit to finance accounts receivable, inventory and other general business purposes; term loans to finance fixed assets other than real estate, and letters of credit to support trade, insurance or governmental requirements for a variety of businesses. Most C&I borrowers are privately-held companies with annual sales up to $100 million. Primary factors that are considered in risk rating C&I loans include debt service coverage and leverage. Other factors including operating trends, collateral coverage along with management experience are also considered.

19

Pass loans are those that exhibit a history of positive financial results that are at least comparable to the average for their industry or type of real estate. The primary source of repayment is acceptable and these loans are expected to perform satisfactorily during most economic cycles. Pass loans typically have no significant external factors that are expected to adversely affect these borrowers more than others in the same industry or property type. Any minor unfavorable characteristics of these loans are outweighed or mitigated by other positive factors including but not limited to adequate secondary or tertiary sources of repayment, including guarantees.

Criticized loans, considered as compromised, have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the bank's credit position at some future date. Criticized loans are not adversely classified by the banking regulators and do not expose the bank to sufficient risk to warrant adverse classification.

Classified loans, considered as substandard and doubtful, are equivalent to the classifications used by banking regulators. Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. These loans may or may not be reported as non-accrual. Doubtful loans have all the weaknesses inherent in those classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. These loans are reported as non-accrual.

The following tables summarize commercial loans by their assigned risk grade:

	Commercial Loans by Internally Assigned Risk Grade
(unaudited, in thousands)	Commercial Real Estate- Land and Construction		Commercial Real Estate- Improved Property		Commercial & Industrial		Total Commercial Loans
As of June 30, 2025
Pass	$	1,657,871	$	8,413,346	$	2,664,825	$	12,736,042
Criticized - compromised		59,225		351,570		120,620		531,415
Classified - substandard		14,992		103,206		33,651		151,849
Classified - doubtful		—		—		—		—
Total	$	1,732,088	$	8,868,122	$	2,819,096	$	13,419,306
As of December 31, 2024
Pass	$	1,347,374	$	5,690,606	$	1,721,309	$	8,759,289
Criticized - compromised		3,873		189,322		48,805		242,000
Classified - substandard		836		94,670		17,163		112,669
Classified - doubtful		—		—		—		—
Total	$	1,352,083	$	5,974,598	$	1,787,277	$	9,113,958

Residential real estate, home equity and consumer loans are not assigned internal risk grades other than as required by regulatory guidelines that are based primarily on the age of past due loans. Wesbanco primarily evaluates the credit quality of residential real estate, home equity and consumer loans based on repayment performance and historical loss rates. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard in accordance with regulatory guidelines was $47.0 million at June 30, 2025 and $23.3 million at December 31, 2024, of which $9.9 million and $4.5 million were accruing, for each period, respectively. These loans are not included in the tables above. In addition, $34.8 million and $36.1 million of unfunded commercial loan commitments are also not included in the tables above at June 30, 2025 and December 31, 2024, respectively.

20

Past Due and Nonperforming Loans

The following tables summarize the age analysis of all categories of loans:

	Age Analysis of Loans
(unaudited, in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Total Loans		90 Days or More Past Due and Accruing (1)
As of June 30, 2025
Commercial real estate:
Land and construction	$	1,729,085	$	293	$	1,347	$	1,363	$	3,003	$	1,732,088	$	—
Improved property		8,817,806		12,040		4,381		33,895		50,316		8,868,122		9,134
Total commercial real estate		10,546,891		12,333		5,728		35,258		53,319		10,600,210		9,134
Commercial and industrial		2,797,202		4,068		1,313		16,513		21,894		2,819,096		1,864
Residential real estate		3,897,587		689		19,491		22,029		42,209		3,939,796		7,418
Home equity		1,031,465		11,228		3,477		6,164		20,869		1,052,334		1,515
Consumer		403,031		9,098		2,082		2,979		14,159		417,190		959
Total portfolio loans		18,676,176		37,416		32,091		82,943		152,450		18,828,626		20,890
Loans held for sale		123,019		—		—		—		—		123,019		—
Total loans	$	18,799,195	$	37,416	$	32,091	$	82,943	$	152,450	$	18,951,645	$	20,890
Nonperforming loans included above are as follows:
Non-accrual loans	$	18,160	$	1,208	$	2,898	$	62,053	$	66,159	$	84,319
As of December 31, 2024
Commercial real estate:
Land and construction	$	1,351,251	$	832	$	—	$	—	$	832	$	1,352,083	$	—
Improved property		5,935,163		7,646		8,148		23,641		39,435		5,974,598		5,561
Total commercial real estate		7,286,414		8,478		8,148		23,641		40,267		7,326,681		5,561
Commercial and industrial		1,772,832		957		8,872		4,616		14,445		1,787,277		3,498
Residential real estate		2,506,959		1,483		3,523		8,121		13,127		2,520,086		2,489
Home equity		806,025		7,420		3,043		4,622		15,085		821,110		1,150
Consumer		195,082		3,916		1,384		893		6,193		201,275		857
Total portfolio loans		12,567,312		22,254		24,970		41,893		89,117		12,656,429		13,555
Loans held for sale		18,695		—		—		—		—		18,695		—
Total loans	$	12,586,007	$	22,254	$	24,970	$	41,893	$	89,117	$	12,675,124	$	13,555
Nonperforming loans included above are as follows:
Non-accrual loans	$	10,117	$	684	$	613	$	28,338	$	29,635	$	39,752

21

The following tables summarize nonperforming loans:

	Nonperforming Loans
	June 30, 2025						December 31, 2024
	Unpaid						Unpaid
	Principal		Recorded		Related		Principal		Recorded		Related
(unaudited, in thousands)	Balance (1)		Investment		Allowance		Balance (1)		Investment		Allowance
With no related specific allowance recorded:
Commercial real estate:
Land and construction	$	1,373	$	1,363	$	—	$	—	$	—	$	—
Improved property		18,043		15,313		—		17,489		15,918		—
Commercial and industrial		11,534		8,655		—		2,896		1,897		—
Residential real estate		34,357		26,116		—		17,200		12,524		—
Home equity		11,638		8,459		—		8,284		6,208		—
Consumer		4,442		2,579		—		140		87		—
Total nonperforming loans without a specific allowance		81,387		62,485		—		46,009		36,634		—
With a specific allowance recorded:
Commercial real estate:
Land and construction		—		—		—		—		—		—
Improved property		14,898		14,875		7,698		3,118		3,118		516
Commercial and industrial		6,959		6,959		6,054		—		—		—
Residential real estate		—		—		—		—		—		—
Home equity		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total nonperforming loans with a specific allowance		21,857		21,834		13,752		3,118		3,118		516
Total nonperforming loans	$	103,244	$	84,319	$	13,752	$	49,127	$	39,752	$	516

(1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off and fair market value adjustments on acquired nonperforming loans.

	Nonperforming Loans
	For the Three Months Ended								For the Six Months Ended
	June 30, 2025				June 30, 2024				June 30, 2025				June 30, 2024
	Average		Interest		Average		Interest		Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income		Recorded		Income		Recorded		Income
(unaudited, in thousands)	Investment		Recognized		Investment		Recognized		Investment		Recognized		Investment		Recognized
With no related specific allowance recorded:
Commercial real estate:
Land and construction	$	682	$	—	$	197	$	—	$	454	$	—	$	131	$	—
Improved property		19,689		—		15,140		—		18,432		—		13,279		—
Commercial and industrial		9,450		—		2,412		—		6,932		—		2,221		—
Residential real estate		26,059		—		11,342		—		21,547		—		11,089		—
Home equity		8,108		—		5,035		—		7,474		—		4,949		—
Consumer		2,962		—		69		—		2,004		—		63		—
Total nonperforming loans without a specific allowance		66,950		—		34,194		—		56,843		—		31,732		—
With a specific allowance recorded:
Commercial real estate:
Land and construction		—		—		—		—		—		—		—		—
Improved property		9,008		—		—		—		7,045		—		—		—
Commercial and industrial		6,959		—		—		—		4,639		—		—		—
Total nonperforming loans with a specific allowance		15,967		—		—		—		11,684		—		—		—
Total nonperforming loans	$	82,917	$	—	$	34,194	$	—	$	68,527	$	—	$	31,732	$	—

22

The following table presents the recorded investment in non-accrual loans:

	Non-accrual Loans (1)
	June 30,		December 31,
(unaudited, in thousands)	2025		2024
Commercial real estate:
Land and construction	$	1,363	$	—
Improved property		30,188		19,036
Total commercial real estate		31,551		19,036
Commercial and industrial		15,614		1,897
Residential real estate		26,116		12,524
Home equity		8,459		6,208
Consumer		2,579		87
Total	$	84,319	$	39,752

(1) At June 30, 2025, there were thirteen borrowers with a loan balance greater than $1.0 million, which totaled $37.4 million, as compared to six borrowers with a loan balance greater than $1.0 million totaling $13.1 million at December 31, 2024. Loans acquired from PFC that were on non-accrual status as of June 30, 2025 totaled approximately $18.9 million. Total non-accrual loans may include loans that are also restructured for borrowers experiencing financial difficulty. Such loans are also set forth in the following tables.

Modifications for Borrowers Experiencing Financial Difficulty

Tables in the following section exclude the financial effects of modifications for loans that were paid off or are otherwise no longer in the loan portfolio as of period end. The following table displays the details of portfolio loans that were modified during the three and six months ended June 30, 2025 and 2024 presented by loan category:

23

	For the Three Months Ended June 30, 2025
(unaudited, in thousands)	Term Extension		Rate Reduction		Payment Delay		Payment Delay and Term Extension		Total		% of Total by Loan Category
Commercial real estate - land and construction	$	—	$	—	$	—	$	—	$	—		—
Commercial real estate - improved property		—		—		—		—		—		—
Commercial and industrial		1,143		10		—		—		1,153		—
Residential real estate		—		—		2,156		—		2,156		0.1
Home equity		—		—		370		—		370		—
Consumer		—		—		495		—		495		0.1
Total	$	1,143	$	10	$	3,021	$	—	$	4,174		—
	For the Three Months Ended June 30, 2024
(unaudited, in thousands)	Term Extension		Rate Reduction		Payment Delay		Payment Delay and Term Extension		Total		% of Total by Loan Category
Commercial real estate - land and construction	$	5	$	—	$	—	$	—	$	5		—
Commercial real estate - improved property		4,378		—		—		—		4,378		0.1
Commercial and industrial		496		—		9		—		505		—
Residential real estate		—		—		164		—		164		—
Home equity		—		—		109		—		109		—
Consumer		—		—		114		—		114		0.1
Total	$	4,879	$	—	$	396	$	—	$	5,275		—
	For the Six Months Ended June 30, 2025
(unaudited, in thousands)	Term Extension		Rate Reduction		Payment Delay		Term Extension and Rate Reduction		Total		% of Total by Loan Category
Commercial real estate - land and construction	$	24,219	$	—	$	—	$	—	$	24,219		1.4
Commercial real estate - improved property		16,090		—		1,490		247		17,827		0.2
Commercial and industrial		5,997		10		59		—		6,066		0.2
Residential real estate		—		—		2,642		—		2,642		0.1
Home equity		—		—		761		—		761		0.1
Consumer		—		—		549		—		549		0.1
Total	$	46,306	$	10	$	5,501	$	247	$	52,064		0.3
	For the Six Months Ended June 30, 2024
(unaudited, in thousands)	Term Extension		Rate Reduction		Payment Delay		Term Extension and Rate Reduction		Total		% of Total by Loan Category
Commercial real estate - land and construction	$	5	$	—	$	—	$	—	$	5		—
Commercial real estate - improved property		25,288		—		—		—		25,288		0.4
Commercial and industrial		496		—		9		—		505		—
Residential real estate		—		—		739		—		739		—
Home equity		—		—		449		—		449		0.1
Consumer		—		—		223		—		223		0.1
Total	$	25,789	$	—	$	1,420	$	—	$	27,209		0.2

Unfunded loan commitments on modifications for borrowers experiencing financial difficulty ("MBEFDs") totaled $1.7 million for loans modified during the six months ended June 30, 2025 and $1.0 million for loans modified during the six months ended June 30, 2024. These commitments are not included in the tables above.

24

The following table summarizes the financial impacts of loan modifications and payment deferrals made to portfolio loans during the three and six months ended June 30, 2025 and 2024, presented by loan category:

	For the Three Months Ended June 30, 2025		For the Three Months Ended June 30, 2024
(unaudited, in thousands)	Weighted-Average Term Extension (in months)		Weighted-Average Term Extension (in months)
Commercial real estate - land and construction		—		24
Commercial real estate - improved property		—		4
Commercial and industrial		7		33
Residential real estate		—		—
Home equity		—		—
Consumer		—		—
	For the Six Months Ended		For the Six Months Ended
	June 30, 2025		June 30, 2024
(unaudited, in thousands)	Weighted-Average Term Extension (in months)		Weighted-Average Term Extension (in months)
Commercial real estate - land and construction		6		24
Commercial real estate - improved property		9		9
Commercial and industrial		13		33
Residential real estate		—		—
Home equity		—		—
Consumer		—		—

The following table summarizes loans with MBEFDs which defaulted (defined as 90 days past due) within 12 months of the loan being modified during the three and six months ended June 30, 2025 and 2024. Modified loans, including those that have defaulted, are already included in the allowance for credit losses through the various methodologies used to estimate the allowance. As such, no modification to the allowance is recorded specifically due to a modified loan subsequently defaulting.

	For the Three Months Ended June 30, 2025						For the Three Months Ended June 30, 2024
(unaudited, in thousands)	Term Extension		Payment Delay		Total		Term Extension		Payment Delay		Total
Commercial real estate - land and construction	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - improved property		—		—		—		—		—		—
Commercial and industrial		—		—		—		180		—		180
Residential real estate		—		123		123		—		—		—
Home equity		—		109		109		—		—		—
Consumer		—		80		80		—		31		31
Total loans that subsequently defaulted (1)	$	—	$	312	$	312	$	180	$	31	$	211
	For the Six Months Ended						For the Six Months Ended
	June 30, 2025						June 30, 2024
(unaudited, in thousands)	Term Extension		Payment Delay		Total		Term Extension		Payment Delay		Total
Commercial real estate - land and construction	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - improved property		3,468		—		3,468		—		—		—
Commercial and industrial		—		—		—		180		—		180
Residential real estate		—		123		123		—		118		118
Home equity		—		115		115		—		—		—
Consumer		—		80		80		—		48		48
Total loans that subsequently defaulted (1)	$	3,468	$	318	$	3,786	$	180	$	166	$	346

25

The following table presents an aging analysis of portfolio loans by loan category that were modified during the twelve months prior to June 30, 2025 and June 30, 2024.

	June 30, 2025
(unaudited, in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Commercial real estate - land and construction	$	—	$	—	$	832	$	832	$	24,218	$	25,050
Commercial real estate - improved property		—		1,446		3,468		4,914		74,595		79,509
Commercial and industrial		—		489		6,995		7,484		5,578		13,062
Residential real estate		—		1,039		953		1,992		3,359		5,351
Home equity		297		132		343		772		972		1,744
Consumer		31		88		92		211		454		665
Total modified loans (1)	$	328	$	3,194	$	12,683	$	16,205	$	109,176	$	125,381
	June 30, 2024
(unaudited, in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Commercial real estate - land and construction	$	—	$	—	$	—	$	—	$	5	$	5
Commercial real estate - improved property		—		16		—		16		25,585		25,601
Commercial and industrial		91		9		—		100		405		505
Residential real estate		—		36		265		301		1,252		1,553
Home equity		15		—		176		191		750		941
Consumer		21		36		31		88		230		318
Total modified loans (1)	$	127	$	97	$	472	$	696	$	28,227	$	28,923

(1) Represents balance at period end.

26

The following tables summarize amortized cost basis loan balances by year of origination and credit quality indicator:

	Loans As of June 30, 2025
	Amortized Cost Basis by Origination Year
(unaudited, in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate: land and construction
Risk rating:
Pass	$	110,325	$	393,928	$	482,460	$	292,940	$	35,606	$	89,959	$	147,765	$	104,888	$	1,657,871
Criticized - compromised		—		—		—		54,423		—		279		—		4,523		59,225
Classified - substandard		—		—		324		—		—		1,563		—		13,105		14,992
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	110,325	$	393,928	$	482,784	$	347,363	$	35,606	$	91,801	$	147,765	$	122,516	$	1,732,088
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate: improved property
Risk rating:
Pass	$	335,922	$	621,201	$	571,797	$	1,620,681	$	940,405	$	3,260,353	$	265,490	$	797,497	$	8,413,346
Criticized - compromised		—		29,547		8,619		81,875		20,267		60,615		30,414		120,233		351,570
Classified - substandard		247		19,599		6,182		31,353		4,319		35,629		272		5,605		103,206
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	336,169	$	670,347	$	586,598	$	1,733,909	$	964,991	$	3,356,597	$	296,176	$	923,335	$	8,868,122
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	9	$	634	$	—	$	35	$	678
Commercial and industrial
Risk rating:
Pass	$	147,257	$	274,552	$	198,899	$	373,138	$	207,269	$	356,548	$	930,155	$	177,007	$	2,664,825
Criticized - compromised		46		14,014		5,193		9,072		8,863		13,176		60,711		9,545		120,620
Classified - substandard		29		3,593		588		3,461		2,018		7,447		6,170		10,345		33,651
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	147,332	$	292,159	$	204,680	$	385,671	$	218,150	$	377,171	$	997,036	$	196,897	$	2,819,096
Current-period gross charge-offs	$	—	$	477	$	548	$	880	$	479	$	202	$	1,088	$	147	$	3,821
Residential real estate
Loan delinquency:
Current	$	107,301	$	219,631	$	285,658	$	758,553	$	651,602	$	1,068,960	$	—	$	805,882	$	3,897,587
30-59 days past due		—		—		—		—		—		689		—		—		689
60-89 days past due		84		1,101		2,335		3,827		2,806		8,435		—		903		19,491
90 days or more past due		—		727		1,696		3,194		2,218		12,398		—		1,796		22,029
Total	$	107,385	$	221,459	$	289,689	$	765,574	$	656,626	$	1,090,482	$	—	$	808,581	$	3,939,796
Current-period gross charge-offs	$	—	$	—	$	33	$	150	$	—	$	158	$	—	$	71	$	412
Home equity
Loan delinquency:
Current	$	13,475	$	2,428	$	1,850	$	3,032	$	1,460	$	22,967	$	968,539	$	17,714	$	1,031,465
30-59 days past due		102		657		586		1,269		246		2,087		5,553		728		11,228
60-89 days past due		26		586		285		478		243		1,183		76		600		3,477
90 days or more past due		—		289		1,469		744		440		2,548		46		628		6,164
Total	$	13,603	$	3,960	$	4,190	$	5,523	$	2,389	$	28,785	$	974,214	$	19,670	$	1,052,334
Current-period gross charge-offs	$	—	$	2	$	221	$	170	$	98	$	309	$	3	$	14	$	817
Consumer
Loan delinquency:
Current	$	45,026	$	91,217	$	80,713	$	95,631	$	30,827	$	31,865	$	27,621	$	131	$	403,031
30-59 days past due		279		1,922		2,776		2,014		698		893		492		24		9,098
60-89 days past due		54		472		423		672		179		269		—		13		2,082
90 days or more past due		41		318		865		980		401		374		—		—		2,979
Total	$	45,400	$	93,929	$	84,777	$	99,297	$	32,105	$	33,401	$	28,113	$	168	$	417,190
Current-period gross charge-offs	$	22	$	1,113	$	599	$	889	$	392	$	268	$	—	$	—	$	3,283

27

	Loans As of December 31, 2024
	Amortized Cost Basis by Origination Year
(in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate: land and construction
Risk rating:
Pass	$	245,699	$	403,923	$	249,690	$	84,527	$	21,316	$	52,485	$	145,032	$	144,702	$	1,347,374
Criticized - compromised		1,746		—		1,096		—		—		10		376		645		3,873
Classified - substandard		—		—		—		—		—		4		—		832		836
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	247,445	$	403,923	$	250,786	$	84,527	$	21,316	$	52,499	$	145,408	$	146,179	$	1,352,083
Current-period gross charge-offs	$	—	$	813	$	—	$	—	$	—	$	—	$	—	$	—	$	813
Commercial real estate: improved property
Risk rating:
Pass	$	542,333	$	472,746	$	1,038,745	$	543,212	$	512,916	$	1,897,950	$	200,572	$	482,132	$	5,690,606
Criticized - compromised		365		28,204		5,188		13,590		6,733		39,845		825		94,572		189,322
Classified - substandard		19,746		1,836		23,393		1,186		9,952		36,142		623		1,792		94,670
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	562,444	$	502,786	$	1,067,326	$	557,988	$	529,601	$	1,973,937	$	202,020	$	578,496	$	5,974,598
Current-period gross charge-offs	$	—	$	—	$	75	$	7	$	—	$	855	$	—	$	—	$	937
Commercial and industrial
Risk rating:
Pass	$	225,344	$	139,460	$	206,252	$	106,446	$	48,285	$	250,438	$	616,831	$	128,253	$	1,721,309
Criticized - compromised		217		7,335		3,337		921		1,597		7,660		20,464		7,274		48,805
Classified - substandard		1,494		382		1,158		1,225		65		2,639		2,460		7,740		17,163
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	227,055	$	147,177	$	210,747	$	108,592	$	49,947	$	260,737	$	639,755	$	143,267	$	1,787,277
Current-period gross charge-offs	$	48	$	648	$	1,048	$	228	$	162	$	1,029	$	1	$	7,369	$	10,533
Residential real estate
Loan delinquency:
Current	$	201,454	$	195,121	$	323,588	$	397,596	$	168,526	$	471,081	$	—	$	749,593	$	2,506,959
30-59 days past due		—		—		—		—		—		1,483		—		—		1,483
60-89 days past due		—		—		—		319		37		2,763		—		404		3,523
90 days or more past due		—		219		838		128		204		5,237		—		1,495		8,121
Total	$	201,454	$	195,340	$	324,426	$	398,043	$	168,767	$	480,564	$	—	$	751,492	$	2,520,086
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	250	$	—	$	58	$	308
Home equity
Loan delinquency:
Current	$	11,504	$	1,857	$	2,220	$	969	$	2,623	$	22,444	$	763,157	$	1,251	$	806,025
30-59 days past due		—		167		530		65		88		1,226		5,166		178		7,420
60-89 days past due		—		656		1,170		346		—		636		91		144		3,043
90 days or more past due		—		927		795		235		363		2,045		112		145		4,622
Total	$	11,504	$	3,607	$	4,715	$	1,615	$	3,074	$	26,351	$	768,526	$	1,718	$	821,110
Current-period gross charge-offs	$	—	$	355	$	132	$	65	$	35	$	260	$	28	$	119	$	994
Consumer
Loan delinquency:
Current	$	51,073	$	55,821	$	36,994	$	11,744	$	5,640	$	9,270	$	24,540	$	—	$	195,082
30-59 days past due		774		1,225		765		602		205		197		148		—		3,916
60-89 days past due		271		327		517		161		51		57		—		—		1,384
90 days or more past due		320		235		123		116		34		65		—		—		893
Total	$	52,438	$	57,608	$	38,399	$	12,623	$	5,930	$	9,589	$	24,688	$	—	$	201,275
Current-period gross charge-offs	$	382	$	1,578	$	1,466	$	497	$	166	$	313	$	—	$	—	$	4,402

The following table summarizes other real estate owned and repossessed assets included in other assets:

	June 30,		December 31,
(unaudited, in thousands)	2025		2024
Other real estate owned	$	662	$	649
Repossessed assets		296		203
Total other real estate owned and repossessed assets	$	958	$	852

Residential real estate loans included in other real estate totaled $0.7 million at June 30, 2025. There were no residential real estate loans included in other real estate at December 31, 2024. At June 30, 2025 and December 31, 2024, formal foreclosure proceedings were in process on residential real estate loans totaling $11.3 million and $4.0 million, respectively.

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NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS

Wesbanco’s Consolidated Balance Sheets include goodwill of $1.6 billion and $1.1 billion as of June 30, 2025 and December 31, 2024, all of which relates to the Community Banking segment. Wesbanco’s other intangible assets of $172.2 million and $27.3 million at June 30, 2025 and December 31, 2024, respectively, primarily consist of core deposit and other customer list intangibles, which have finite lives and are amortized using straight line and accelerated methods. Other intangible assets are being amortized over estimated useful lives ranging from ten to sixteen years. The increases to goodwill and other intangible assets in 2025 are specific to the PFC acquisition, which contributed $476.2 million in goodwill and $151.5 million in core deposit intangibles in its Community Banking segment, as well as $6.9 million in customer list intangibles in its Trust and Investment Services segment. Amortization of core deposit and customer list intangible assets totaled $9.2 million and $2.1 million for the three months ended June 30, 2025 and 2024, respectively, and $13.4 million and $4.2 million for the six months ended June 30, 2025 and 2024, respectively. Wesbanco completed its annual quantitative goodwill impairment evaluation as of November 30, 2024, and concluded that there were no indications of impairment. In addition, as there were no significant changes in market conditions, consolidated operating results or forecasted future results after November 30, 2024, it was concluded that at both December 31, 2024 and June 30, 2025, there were also no indications of impairment. Additionally, there were no events or changes in circumstances indicating impairment of other intangible assets as of December 31, 2024 and June 30, 2025.

The following table shows Wesbanco’s capitalized other intangible assets and related accumulated amortization:

	June 30,			December 31,
(unaudited, in thousands)	2025			2024
Other intangible assets:
Gross carrying amount	$	256,677		$	98,271
Accumulated amortization		(84,444	)		(71,016	)
Net carrying amount of other intangible assets	$	172,233		$	27,255

The following table shows the amortization on Wesbanco’s other intangible assets for each of the next five years, and in the aggregate thereafter, as of June 30, 2025 (unaudited, in thousands):

Year	Amount
2025	$	18,176
2026		31,609
2027		26,822
2028		22,436
2029		17,495
2030 and thereafter		55,695
Total	$	172,233

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NOTE 7. INVESTMENTS IN LIMITED PARTNERSHIPS

Wesbanco is a limited partner in several tax-advantaged limited partnerships whose purpose is to invest in approved low-income housing investment tax credit projects. These investments are accounted for using the equity method of accounting and are included in other assets in the Consolidated Balance Sheets. The limited partnerships are considered to VIEs as they generally do not have equity investors with voting rights or have equity investors that do not provide sufficient financial resources to support their activities. The VIEs have not been consolidated because Wesbanco is not considered the primary beneficiary. All of Wesbanco’s investments in limited partnerships are privately held, and their market values are not readily available. As of June 30, 2025 and December 31, 2024, Wesbanco had $79.8 million and $38.2 million, respectively, invested in these partnerships. Wesbanco also recognizes the unconditional unfunded equity commitments of $33.2 million and $19.0 million at June 30, 2025 and December 31, 2024, respectively, within other liabilities on the Consolidated Balance Sheets. Wesbanco classifies the amortization of the investment as a component of income tax expense (benefit) and proportionally amortizes the investment over the tax credit period. The amortization for the three months ended June 30, 2025 and 2024 was $3.0 million and $1.2 million, respectively. The amortization for the six months ended June 30, 2025 and 2024 was $4.9 million and $2.3 million, respectively. Tax benefits attributed to these partnerships include low-income housing and historic tax credits, which are projected to total $10.3 million for 2025, and totaled $4.3 million for 2024, which are also included in income tax expense.

Wesbanco is also a limited partner in three other limited partnerships as of June 30, 2025. These provide seed money and capital to startup companies, and financing to low-income housing projects. As of June 30, 2025 and December 31, 2024, Wesbanco had $3.7 million and $2.9 million, respectively, invested in these partnerships, which are recorded in other assets using the equity method. Wesbanco included in operations under the equity method of accounting its share of the partnerships’ net income for the three months ended June 30, 2025 and 2024 of $72 thousand and $12 thousand, respectively, and net income for the six months ended June 30, 2025 and 2024 of $77 thousand and $(11) thousand, respectively.

The following table presents the scheduled equity commitments to be paid to the limited partnerships over the next five years and in the aggregate thereafter as of June 30, 2025 (unaudited, in thousands):

Year (unaudited, in thousands)	Amount
2025	$	7,708
2026		12,153
2027		4,448
2028		3,881
2029		1,444
2030 and thereafter		3,587
Total	$	33,221

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NOTE 8. DERIVATIVES AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

Wesbanco is exposed to certain risks arising from both its business operations and economic conditions. Wesbanco principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. Wesbanco manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Wesbanco’s existing interest rate derivatives result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in Wesbanco’s assets or liabilities. Wesbanco manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. A matched book is when the assets and liabilities of Wesbanco Bank, Inc., Wesbanco's banking subsidiary (the "Bank") are equally distributed but also have similar maturities.

Loan Swaps

Wesbanco executes interest rate swaps and interest rate caps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps and caps are economically hedged by offsetting interest rate swaps and caps that Wesbanco executes with a third party, such that Wesbanco minimizes its net risk exposure resulting from such transactions. As the interest rate swaps and caps associated with this program do not meet the hedge accounting requirements of ASC 815, changes in the fair value of both the customer swaps and caps and the offsetting third-party swaps and caps are recognized directly in earnings. As of June 30, 2025 and December 31, 2024, Wesbanco had 325 and 293 customer interest rate swaps and caps with an aggregate notional amount of $2.1 billion and $1.9 billion, respectively, related to this program. Wesbanco recognized income for the related swap and cap fees of $1.4 million and $1.8 million for the three months ended June 30, 2025 and 2024, respectively, and $3.4 million and $2.5 million for the six months ended June 30, 2025 and 2024, respectively.

Risk participation agreements are entered into as financial guarantees of performance on interest rate swap derivatives. The purchased asset or sold liability allows Wesbanco to participate-in (fee received) or participate-out (fee paid) the risk associated with certain derivative positions executed by the borrower of the lead bank in a loan syndication. As of June 30, 2025 and December 31, 2024, Wesbanco had 29 and 24 risk participation-in agreements with an aggregate notional amount of $279.2 million and $233.8 million, respectively. As of June 30, 2025 and December 31, 2024, Wesbanco had eight risk participation-out agreements with an aggregate notional amount of $67.3 million and $67.7 million, respectively.

Mortgage Loans Held for Sale and Interest Rate Lock Commitments

Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as held for sale and carried at fair value as Wesbanco has elected the fair value option. Fair value is determined based on rates obtained from the secondary market for loans with similar characteristics. Wesbanco sells loans to the secondary market on either a mandatory or best efforts basis. The loans sold on a mandatory basis are not committed to an investor until the loan is closed with the borrower. Wesbanco enters into forward to be announced (“TBA”) contracts to manage the interest rate risk between the lock commitment and the closing of the loan. The total balance of forward TBA contracts entered into was $173.0 million and $29.0 million at June 30, 2025 and December 31, 2024, respectively. The loans sold on a best efforts basis are committed to an investor simultaneous to the interest rate commitment with the borrower, and as a result, the Company does not enter into a separate forward TBA contract to offset the fair value risk as the investor accepts such risk in exchange for paying a lower premium on sale.

Fair Values of Derivative Instruments on the Balance Sheet

All derivatives are carried on the consolidated balance sheet at fair value. Derivative assets are classified in the consolidated balance sheet under other assets, and derivative liabilities are classified in the consolidated balance sheet under other liabilities. Changes in fair value are recognized in earnings. None of Wesbanco’s derivatives are designated in a qualifying hedging relationship under ASC 815.

The table below presents the fair value of Wesbanco’s derivative financial instruments as well as their classification on the Balance Sheet as of June 30, 2025 and December 31, 2024:

	June 30, 2025						December 31, 2024
(unaudited, in thousands)	Notional or Contractual Amount		Asset Derivatives		Liability Derivatives		Notional or Contractual Amount		Asset Derivatives		Liability Derivatives
Derivatives
Loan Swaps:
Interest rate swaps and caps	$	2,108,303	$	64,943	$	66,526	$	1,906,520	$	72,343	$	72,204
Other contracts:
Interest rate lock commitments		52,657		1,528		—		15,476		—		41
Forward TBA contracts		173,000		—		1,637		29,000		115		—
Total derivatives			$	66,471	$	68,163			$	72,458	$	72,245

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Effect of Derivative Instruments on the Income Statement

The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within non-interest income on the consolidated income statement for the three and six months ended June 30, 2025 and 2024, respectively.

		For the Three Months Ended June 30,						For the Six Months Ended June 30,
(unaudited, in thousands)	Location of Gain/(Loss)	2025			2024			2025			2024
Interest rate swaps and caps	Net swap fee and valuation income	$	(677	)	$	9		$	(1,687	)	$	807
Interest rate lock commitments	Mortgage banking income		310			(90	)		1,569			(116	)
Forward TBA contracts	Mortgage banking income		(538	)		47			(1,036	)		95
Total		$	(905	)	$	(34	)	$	(1,154	)	$	786

Credit-risk-related Contingent Features

Wesbanco has agreements with its derivative counterparties that contain a provision, which provides that if Wesbanco defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Wesbanco could also be declared in default on its derivative obligations.

Wesbanco also has agreements with certain of its derivative counterparties that contain a provision where if Wesbanco fails to maintain its status as either a “well” or “adequately-capitalized” institution, then the counterparty could terminate the derivative positions and Wesbanco would be required to settle its obligations under the agreements.

Dependent upon the net present value of the underlying swaps, Wesbanco has minimum collateral posting thresholds with certain of its derivative counterparties. Wesbanco has posted net cash collateral with a market value of $4.8 million as of June 30, 2025, while, as of December 31, 2024, Wesbanco was holding net cash collateral from various derivative counterparties totaling $42.6 million within interest bearing deposit accounts. If Wesbanco had breached any of these provisions at June 30, 2025, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparties.

NOTE 9. BENEFIT PLANS

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)	2025			2024			2025			2024
Service cost – benefits earned during year	$	267		$	330		$	531		$	660
Interest cost on projected benefit obligation		766			1,603			1,524			3,206
Expected return on plan assets		(1,603	)		(2,599	)		(3,188	)		(5,198	)
Amortization of prior service cost		(8	)		(8	)		(17	)		(17	)
Amortization of net (gain) loss		(48	)		21			(96	)		42
Net periodic pension income	$	(626	)	$	(653	)	$	(1,246	)	$	(1,307	)

The service cost of $0.5 million and $0.7 million for the six months ended June 30, 2025 and 2024, respectively, is included in salaries and wages, and periodic pension income of $1.8 million and $2.0 million for the six months ended June 30, 2025 and 2024, is included in employee benefits.

The Plan covers all employees of Wesbanco and its subsidiaries who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date.

A minimum required contribution of $3.3 million is due in 2025, which can be offset in whole or in part by the Plan's $64.7 million available credit balance. Wesbanco currently does not expect to make a voluntary contribution to the Plan in 2025.

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NOTE 10. FAIR VALUE MEASUREMENT

Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments.

Fair value is determined at one point in time and is not representative of future value. These amounts do not reflect the total value of a going concern organization. Management does not have the intention to dispose of a significant portion of its assets and liabilities, and therefore the unrealized gains or losses should not be interpreted as a forecast of future earnings and cash flows.

The following is a discussion of assets and liabilities measured at fair value on a recurring basis and valuation techniques applied:

Investment securities: The fair value of investment securities which are measured on a recurring basis are determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. These securities are classified within level 1 or 2 in the fair value hierarchy. Positions that are not traded in active markets for which valuations are generated using assumptions not observable in the market or management’s best estimate are classified within level 3 of the fair value hierarchy. This includes certain specific municipal debt issues for which the credit quality and discount rate must be estimated.

Loans held for sale: Loans held for sale are carried, in aggregate, at fair value as Wesbanco previously elected the fair value option. The use of a valuation model using quoted prices of similar instruments are significant inputs in arriving at the fair value and therefore loans held for sale are classified within level 2 of the fair value hierarchy.

Derivatives: Wesbanco enters into interest rate swap agreements with qualifying commercial customers to meet their financing, interest rate and other risk management needs. These agreements provide the customer the ability to convert from variable to fixed interest rates. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. Those interest rate swaps are economically hedged by offsetting interest rate swaps that Wesbanco executes with derivative counterparties in order to offset its exposure on the fixed components of the customer interest rate swap agreements. The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period earnings as other income and other expense.

Wesbanco enters into forward TBA contracts to manage the interest rate risk between the loan commitments to the customer and the closing of the loan for loans that will be sold on a mandatory basis to secondary market investors. The forward TBA contract is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period’s earnings as mortgage banking income.

Wesbanco determines the fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. Wesbanco incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements, and therefore both the derivative asset and derivative liability are classified within level 2 of the fair value hierarchy.

We may be required from time to time to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or write-downs of individual assets and liabilities.

Collateral dependent loans: Collateral dependent loans are carried at the amortized cost basis less the specific allowance calculated under the Current Expected Credit Losses Accounting Standard. Collateral dependent loans are calculated using a cost basis approach or collateral value approach, and therefore are classified within level 3 of the fair value hierarchy.

Other real estate owned and repossessed assets: Other real estate owned and repossessed assets are carried at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. The use of independent appraisals and management’s best judgment are significant inputs in arriving at the fair value measure of the underlying collateral, and therefore other real estate owned and repossessed assets are classified within level 3 of the fair value hierarchy.

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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

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			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

Wesbanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between level 1, 2 or 3 for the three and six months ended June 30, 2025 or for the year ended December 31, 2024.

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.

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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		—		—

The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on Wesbanco’s consolidated balance sheets (please refer to Footnote 2, "Mergers and Acquisitions" for the methods and assumptions used specifically for the valuation of PFC's assets and liabilities at the acquisition date):

Cash and due from banks: The carrying amount for cash and due from banks is a reasonable estimate of fair value.

Held-to-maturity debt securities: Fair values for debt securities held-to-maturity are determined in the same manner as investment securities, which are described above. The carrying value is net of the allowance for credit losses on held-to-maturity debt securities.

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Net loans: Fair values for loans are estimated in a valuation model using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans with similar terms, the credit risk associated with the loan and other market factors, including liquidity. Wesbanco believes the discount rates are consistent with transactions occurring in the marketplace for both performing and distressed loan types. The carrying value is net of the allowance for loan losses and other associated premiums and discounts. Due to the significant judgment involved in evaluating credit quality, loans are classified within level 3 of the fair value hierarchy.

Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value.

Deposits: The carrying amount is considered a reasonable estimate of fair value for demand, savings and other variable rate deposit accounts. The fair value of fixed maturity certificates of deposit is estimated by a discounted cash flow method using rates currently offered for deposits of similar remaining maturities.

Federal Home Loan Bank borrowings: The fair value of FHLB borrowings is based on rates currently available to Wesbanco for borrowings with similar terms and remaining maturities.

Other borrowings: The carrying amount of federal funds purchased and overnight sweep accounts generally approximate fair value. Other repurchase agreements are based on quoted market prices if available. If market prices are not available, for certain fixed and adjustable rate repurchase agreements, then quoted market prices of similar instruments are used.

Subordinated debt and junior subordinated debt: The fair value of subordinated debt is determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. These securities are classified within level 2 in the fair value hierarchy. Due to the pooled nature of junior subordinated debt owed to unconsolidated subsidiary trusts, which are not actively traded, estimated fair value is determined by using comparable corporate bond indices and swap rates from the financial services sector and factoring in the applicable credit spreads and optional early redemption provisions.

Accrued interest payable: The carrying amount of accrued interest payable approximates its fair value.

Off-balance sheet financial instruments: Off-balance sheet financial instruments consist of commitments to extend credit, including letters of credit. Fair values for commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counterparties. The estimated fair value of the commitments to extend credit and letters of credit are insignificant and therefore are not presented in the above tables.

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NOTE 11. REVENUE RECOGNITION

Interest income, net securities gains and bank-owned life insurance are not in scope of ASC 606, Revenue from Contracts with Customers. For the revenue streams in scope of ASC 606 - trust fees, service charges on deposits, net securities brokerage revenue, payment processing fees, digital banking income, net swap fee and valuation income, mortgage banking income and net gain on other real estate owned and other assets – there are no significant judgments related to the amount and timing of revenue recognition.

The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and six months ended June 30, 2025 and 2024, respectively:

	Point of Revenue	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(unaudited, in thousands)	Recognition	2025		2024		2025		2024
Revenue Streams
Trust fees
Trust account fees	Over time	$	7,698	$	5,305	$	14,372	$	11,405
WesMark fees	Over time		1,959		1,998		3,983		3,980
Total trust fees			9,657		7,303		18,355		15,385
Service charges on deposits
Commercial banking fees	Over time		2,446		1,297		4,383		2,485
Personal service charges	At a point in time and over time		8,038		5,814		14,687		11,410
Total service charges on deposits			10,484		7,111		19,070		13,895
Net securities brokerage revenue
Annuity commissions	At a point in time		2,610		1,978		4,598		3,950
Equity and debt security trades	At a point in time		84		70		208		150
Managed money	Over time		337		272		664		526
Trail commissions	Over time		317		281		579		523
Total net securities brokerage revenue			3,348		2,601		6,049		5,149
Payment processing fees (1)	At a point in time and over time		804		906		1,696		1,734
Digital banking income	At a point in time		7,325		5,040		12,730		9,745
Net swap fee and valuation income (2)	At a point in time		746		1,776		1,706		3,339
Mortgage banking income	At a point in time		2,364		1,069		3,504		1,762
Net gain on other real estate owned and other assets	At a point in time and over time		111		34		71		188

(1)Included in other non-interest income.

(2)The portion of this line item relating to the change in the fair value of the underlying swaps is not within the scope of ASC 606, and totaled losses of $0.7 million and $0.0 million for the three months ended June 30, 2025 and 2024, respectively. Fair value adjustments were ($1.7) million and $0.8 million for the six months ended June 30, 2025 and 2024, respectively.

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NOTE 12. COMPREHENSIVE INCOME/(LOSS)

The activity in accumulated other comprehensive income/(loss) for the six months ended June 30, 2025 and 2024 is as follows:

	Accumulated Other Comprehensive Income/(Loss) (1)
(unaudited, in thousands)	Defined Benefit Plans			Unrealized Gains (Losses) on Debt Securities Available-for-Sale			Total
Balance at December 31, 2024	$	5,124		$	(223,756	)	$	(218,632	)
Other comprehensive income before reclassifications		—			45,567			45,567
Amounts reclassified from accumulated other comprehensive income		(275	)		(304	)		(579	)
Period change		(275	)		45,263			44,988
Balance at June 30, 2025	$	4,849		$	(178,493	)	$	(173,644	)
Balance at December 31, 2023	$	6,515		$	(233,208	)	$	(226,693	)
Other comprehensive loss before reclassifications		—			(8,278	)		(8,278	)
Amounts reclassified from accumulated other comprehensive income		(130	)		(107	)		(237	)
Period change		(130	)		(8,385	)		(8,515	)
Balance at June 30, 2024	$	6,385		$	(241,593	)	$	(235,208	)

(1)All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and six months ended June 30, 2025 and 2024:

Details about Accumulated Other Comprehensive Income/(Loss) Components	For the Three Months Ended June 30,						For the Six Months Ended June 30,						Affected Line Item in the Statement of Comprehensive Income
(unaudited, in thousands)	2025			2024			2025			2024
Debt securities available-for-sale (1):
Net securities (gains) losses reclassified into earnings	$	(9	)	$	12		$	(50	)	$	12		Net securities gains/(losses) (Non-interest income)
Related income tax effect ⁽²⁾		(207	)		(61	)		(254	)		(119	)	Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		(216	)		(49	)		(304	)		(107	)
Defined benefit plans (3):
Amortization of net gain and prior service costs		(194	)		(101	)		(366	)		(202	)	Employee benefits (Non-interest expense)
Related income tax effect ⁽²⁾		46			24			91			72		Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		(148	)		(77	)		(275	)		(130	)
Total reclassifications for the period	$	(364	)	$	(126	)	$	(579	)	$	(237	)

(1)For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 4, “Securities.”

(2)Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

(3)Included in the computation of net periodic pension cost. See Note 9, “Benefit Plans” for additional detail.

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NOTE 13. COMMITMENTS AND CONTINGENT LIABILITIES

Commitments — In the normal course of business, Wesbanco offers off-balance sheet credit arrangements to enable its customers to meet their financing objectives. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. Wesbanco’s exposure to credit losses in the event of non-performance by the other parties to the financial instruments for commitments to extend credit and standby letters of credit is limited to the contractual amount of those instruments. Wesbanco uses the same credit policies in making commitments and conditional obligations as for all other lending. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The allowance for credit losses associated with commitments was $6.2 million and $6.1 million at June 30, 2025 and December 31, 2024, respectively, and is included in other liabilities on the Consolidated Balance Sheets.

Letters of credit are conditional commitments issued by banks to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including normal business activities, bond financing and similar transactions. Letters of credit are considered guarantees. The liability associated with letters of credit was $0.3 million and $0.2 million as of June 30, 2025 and December 31, 2024, respectively.

Contingent obligations to purchase loans funded by other entities include credit card guarantees, loans sold with recourse as well as obligations to the FHLB. Credit card guarantees are credit card balances not owned by Wesbanco, whereby the Bank guarantees the performance of the cardholder.

The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding:

	June 30,		December 31,
(unaudited, in thousands)	2025		2024
Lines of credit	$	5,059,269	$	3,960,185
Loans approved but not closed		512,141		365,529
Overdraft limits		548,175		387,591
Letters of credit		55,513		47,879
Contingent obligations and other guarantees		33,080		16,574

Contingent Liabilities — Wesbanco is a party to various legal and administrative proceedings and claims. While any litigation contains an element of uncertainty, management does not believe that a material loss related to such proceedings or claims pending or known to be threatened is reasonably possible.

NOTE 14. BUSINESS SEGMENTS

Wesbanco operates two reportable segments: community banking and trust and investment services. Wesbanco’s community banking segment offers a wide range of banking products and services through various delivery channels and business units, including commercial demand, individual demand and time deposit accounts; commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services. For purposes of determining the community banking reportable segment, these lines of business are aggregated, in accordance with the review of the Chief Operating Decision Maker ("CODM"). The trust and investment services segment offers trust services as well as various alternative investment products, including mutual funds, and also serves as investment adviser to a family of mutual funds called the “WesMark Funds.” The fund family is comprised of the WesMark Large Company Fund, the WesMark Balanced Fund, the WesMark Small Company Fund, the WesMark Government Bond Fund, the WesMark West Virginia Municipal Bond Fund, and the WesMark Tactical Opportunity Fund. Corporate support functions, which are generally all attributable to the parent company, do not represent a reportable segment and are presented within Corporate Other for purposes of reconciling to the consolidated financials. All of Wesbanco’s revenue is derived from domestic operations, and Wesbanco has no major customers providing greater than 10% of total segment revenue. Wesbanco’s CODM is its President and Chief Executive Officer. The CODM uses net income as the reported measure of segment profit or loss in making business decisions regarding reinvestment into the Company’s segments, using profits for acquisitions and/or paying dividends to shareholders. In addition, net income is used to monitor budget versus actual results, to perform competitive analysis by benchmarking to peers and as a factor to establish compensation for certain employees. Wesbanco does not have any material intra-entity sales or transfers.

The market value of trust assets totaled approximately $7.2 billion and $5.6 billion at June 30, 2025 and 2024, respectively. These assets are held by Wesbanco in fiduciary or agency capacities and are not included as assets on Wesbanco’s Consolidated Balance Sheets. Therefore, substantially all of Wesbanco’s assets are attributable to the community banking segment.

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The following tables present selected financial information with respect to Wesbanco’s business segments for the three and six months ended June 30, 2025 and 2024 as received and reviewed on a regular basis by the CODM:

(unaudited, in thousands)	Community Banking		Trust and Investment Services			Corporate Other			Totals
For The Three Months Ended June 30, 2025:
Interest and dividend income	$	336,382	$	—		$	—
Less: Interest expense (1)		112,804		1,500			5,309
Net interest income		223,578		(1,500	)		(5,309	)
Less: Provision for credit losses		3,218		—			—
Net interest income after provision for credit losses		220,360		(1,500	)		(5,309	)
Non-interest income:
Trust fees		—		7,698			—
WesMark fees		—		1,959			—
Service charges on deposits		10,484		—			—
Digital banking income		7,325		—			—
Net swap fee and valuation income		746		—			—
Net securities brokerage revenue		3,348		—			—
Net insurance services revenue		1,115		—			—
Bank-owned life insurance		3,450		—			—
Payment processing fees		805		—			—
Net securities gains		1,410		—			—
Net gain on other real estate owned and other assets		111		—			—
Mortgage banking income		2,364		—			—
Other income		2,374		760			8
Total revenues	$	253,892	$	8,917		$	(5,301	)	$	257,508
Less (2):
Salaries and wages		57,983		2,170			—
Employee benefits		18,307		550			—
Net occupancy (3)		8,049		70			—
Equipment and software (4)		17,063		77			—
Miscellaneous taxes		5,059		2			—
Professional services		4,637		166			1,832
Marketing		1,834		30			—
FDIC insurance		5,479		—			—
Supplies		2,037		41			—
Telecommunications		1,541		—			—
General administration		2,247		54			287
Merger-related and restructuring		40,301		—			755
Amortization of intangibles		8,816		388			—
Corporate overhead expenses (5)		—		2,021			—
Other segment items (6)		4,673		50			16
Segment profit (loss) before provision for income taxes		75,866		3,298			(8,191	)
Provision for income taxes		15,705		693			(2,840	)
Segment profit (loss)	$	60,161	$	2,605		$	(5,351	)	$	57,415
Reconciliation of segment profit
Preferred stock dividends										(2,531	)
Net income available to common shareholders									$	54,884

(1) Within Corporate other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco.

(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(3) Includes depreciation and amortization expense of $2.2 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(4) Includes depreciation and amortization expense of $3.2 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(5) Corporate overhead expenses allocated to the trust and investment services segment consist of audit and accounting services, human resources, bank administration and information technology.

(6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.

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(unaudited, in thousands)	Community Banking		Trust and Investment Services			Corporate Other			Totals
For The Three Months Ended June 30, 2024:
Interest and dividend income	$	202,993	$	—		$	—
Less: Interest expense (1)		81,311		1,045			4,044
Net interest income		121,682		(1,045	)		(4,044	)
Less: Provision for credit losses		10,541		—			—
Net interest income after provision for credit losses		111,141		(1,045	)		(4,044	)
Non-interest income:
Trust fees		—		5,305			—
WesMark fees		—		1,998			—
Service charges on deposits		7,111		—			—
Digital banking income		5,040		—			—
Net swap fee and valuation income		1,776		—			—
Net securities brokerage revenue		2,601		—			—
Net insurance services revenue		980		—			—
Bank-owned life insurance		2,791		—			—
Payment processing fees		905		—			—
Net securities gains		135		—			—
Net gain on other real estate owned and other assets		34		—			—
Mortgage banking income		1,069		—			—
Other income		1,610		—			—
Total revenues	$	135,193	$	6,258		$	(4,044	)	$	137,407
Less (2):
Salaries and wages		42,197		1,794			—
Employee benefits		10,118		461			—
Net occupancy (3)		6,257		52			—
Equipment and software (4)		10,449		8			—
Miscellaneous taxes		3,077		—			—
Professional services		2,002		82			2,509
Marketing		2,364		7			—
FDIC insurance		3,523		—			—
Supplies		1,608		26			—
Telecommunications		1,309		—			—
General administration		1,564		40			43
Merger-related and restructuring		3,777		—			—
Amortization of intangibles		2,024		48			—
Corporate overhead expenses (5)		—		1,376			—
Other segment items (6)		5,671		50			(44	)
Segment profit (loss) before provision for income taxes		39,253		2,314			(6,552	)
Provision for income taxes		6,772		486			(1,159	)
Segment profit (loss)	$	32,481	$	1,828		$	(5,393	)	$	28,916
Reconciliation of segment profit (loss)
Preferred stock dividends										(2,531	)
Net income available to common shareholders									$	26,385

(1) Within Corporate other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco.

(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(3) Includes depreciation and amortization expense of $1.7 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(4) Includes depreciation and amortization expense of $2.1 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(5) Corporate overhead expenses allocated to the trust and investment services segment consist of audit and accounting services, human resources, bank administration and information technology.

(6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.

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(unaudited, in thousands)	Community Banking		Trust and Investment Services			Corporate Other			Totals
For the Six Months Ended June 30, 2025:
Interest and dividend income	$	589,614	$	—		$	—
Less: Interest expense (1)		202,453		2,435			9,438
Net interest income		387,161		(2,435	)		(9,438	)
Less: Provision for credit losses		72,101		—			—
Net interest income after provision for credit losses		315,060		(2,435	)		(9,438	)
Non-interest income:
Trust fees		—		14,372			—
WesMark fees		—		3,983			—
Service charges on deposits		19,070		—			—
Digital banking income		12,730		—			—
Net swap fee and valuation income		1,706		—			—
Net securities brokerage revenue		6,049		—			—
Net insurance services revenue		2,070		—			—
Bank-owned life insurance		6,878		—			—
Payment processing fees		1,696		—			—
Net securities gains		1,092		—			—
Net gain on other real estate owned and other assets		71		—			—
Mortgage banking income		3,504		—			—
Other income		4,624		760			17
Total revenues	$	374,550	$	16,680		$	(9,421	)	$	381,809
Less (2):
Salaries and wages		104,598		4,132			—
Employee benefits		30,797		1,030			—
Net occupancy (3)		15,770		127			—
Equipment and software (4)		30,056		134			—
Miscellaneous taxes		9,292		3			—
Professional services		8,407		304			3,542
Marketing		4,196		50			—
FDIC insurance		9,666		—			—
Supplies		3,722		94			—
Telecommunications		2,751		—			—
General administration		3,617		82			417
Merger-related and restructuring		53,992		—			7,074
Amortization of intangibles		12,999		428			—
Corporate overhead expenses (5)		—		3,601			—
Other segment items (6)		9,558		81			(20	)
Segment profit (loss) before provision for income taxes		75,129		6,614			(20,434	)
Provision for income taxes		15,815		1,389			(4,318	)
Segment profit (loss)	$	59,314	$	5,225		$	(16,116	)	$	48,423
Reconciliation of segment (loss) profit
Preferred stock dividends										(5,063	)
Net income available to common shareholders									$	43,360

(1) Within Corporate other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco.

(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(3) Includes depreciation and amortization expense of $4.1 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(4) Includes depreciation and amortization expense of $5.6 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(5) Corporate overhead expenses allocated to the trust and investment services segment consist of audit and accounting services, human resources, bank administration and information technology.

(6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.

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(unaudited, in thousands)	Community Banking		Trust and Investment Services			Corporate Other			Totals
For the Six Months Ended June 30, 2024:
Interest and dividend income	$	398,327	$	—		$	—
Less: Interest expense (1)		157,575		2,073			8,119
Net interest income		240,752		(2,073	)		(8,119	)
Less: Provision for credit losses		14,555		—			—
Net interest income after provision for credit losses		226,197		(2,073	)		(8,119	)
Non-interest income:
Trust fees		—		11,405			—
WesMark fees		—		3,980			—
Service charges on deposits		13,895		—			—
Digital banking income		9,745		—			—
Net swap fee and valuation income		3,339		—			—
Net securities brokerage revenue		5,149		—			—
Net insurance services revenue		1,924		—			—
Bank-owned life insurance		4,859		—			—
Payment processing fees		1,734		—			—
Net securities gains		672		—			—
Net gain on other real estate owned and other assets		188		—			—
Mortgage banking income		1,762		—			—
Other income		3,332		—			—
Total revenues	$	272,796	$	13,312		$	(8,119	)	$	277,989
Less (2):
Salaries and wages		83,342		3,646			—
Employee benefits		21,818		945			—
Net occupancy (3)		12,828		104			—
Equipment and software (4)		20,450		15			—
Miscellaneous taxes		6,236		3			—
Professional services		5,667		158			3,770
Marketing		4,234		22			—
FDIC insurance		6,971		—			—
Supplies		2,904		68			—
Telecommunications		2,572		—			—
General administration		2,924		73			68
Merger-related and restructuring		3,777		—			—
Amortization of intangibles		4,068		96			—
Corporate overhead expenses (5)		—		2,899			—
Other segment items (6)		9,897		110			(80	)
Segment profit (loss) before provision for income taxes		85,108		5,173			(11,877	)
Provision for income taxes		15,196		1,086			(2,487	)
Segment profit (loss)	$	69,912	$	4,087		$	(9,390	)	$	64,609
Reconciliation of segment profit (loss)
Preferred stock dividends										(5,063	)
Net income available to common shareholders									$	59,546

(1) Within Corporate other, this represents interest expense on subordinated and junior subordinated debt issued by the parent company of Wesbanco.

(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(3) Includes depreciation and amortization expense of $3.5 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(4) Includes depreciation and amortization expense of $4.2 million for the community banking segment. Such expenses for the trust and investment services segment are immaterial.

(5) Corporate overhead expenses allocated to the trust and investment services segment consist of audit and accounting services, human resources, bank administration and information technology.

(6) Other segment items included in segment expenses for the community banking segment include ATM and digital banking interchange expenses, correspondent service fee expense, postage expense, corporate insurance expense and other general banking service expenses. Other segment items included in segment expenses for the trust and investment services segment include postage expense, securities safekeeping expense and other miscellaneous operating expenses.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Management’s Discussion and Analysis (“MD&A”) represents an overview of the results of operations and financial condition of Wesbanco for the three and six months ended June 30, 2025. This discussion and analysis should be read in conjunction with the Consolidated Financial Statements and Notes thereto.

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 ending 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 and in Part II, Item 1A of this Form 10-Q. Such statements are subject to important factors that could cause actual results to differ materially from those contemplated by such statements, including, without limitation, that the expected cost savings and any revenue synergies from the merger of Wesbanco and PFC may not be fully realized within the expected timeframes; disruption from the merger of Wesbanco and PFC 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 SEC, the Financial Institution Regulatory Authority, the Municipal Securities Rulemaking Board, the Securities Investors Protection Corporation, the Consumer Financial Protection Bureau 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.

OVERVIEW

Wesbanco is a multi-state bank holding company operating through 251 branches and 270 ATM machines in West Virginia, Ohio, western Pennsylvania, Kentucky, Indiana, Michigan and Maryland, offering retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. Wesbanco’s businesses are significantly impacted by economic factors such as market interest rates, federal monetary and regulatory policies, local and regional economic conditions and the competitive environment’s effect upon Wesbanco’s business volumes. Wesbanco’s deposit levels are affected by numerous factors including personal savings rates, personal income, and competitive rates on alternative investments, as well as competition from other financial institutions within the markets we serve and liquidity needs of Wesbanco. Loan levels are also subject to various factors including construction demand, business financing needs, consumer spending and interest rates, as well as loan terms offered by competing lenders.

ACQUISITION

On February 28, 2025, Wesbanco completed its acquisition of PFC, a bank holding company headquartered in Defiance, OH. For additional information regarding the acquisition, see Note 2, “Mergers and Acquisitions."

APPLICATION OF CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Wesbanco’s critical accounting policies involving the significant judgments and assumptions used in the preparation of the Consolidated Financial Statements as of June 30, 2025 have remained unchanged from the disclosures presented in Wesbanco’s Annual Report on Form 10-K for the year ended December 31, 2024 within the section “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

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RESULTS OF OPERATIONS

EARNINGS SUMMARY

Wesbanco reported net income available to common shareholders for the second quarter of 2025 of $54.9 million or $0.57 per diluted share, compared to net income of $26.4 million or $0.44 per diluted share, for the second quarter of 2024. As noted in the following table, net income available to common shareholders, excluding after-tax restructuring and merger-related expenses for the three months ended June 30, 2025, was $87.3 million or $0.91 per diluted share, as compared to $29.4 million or $0.49 per diluted share in the prior year's second quarter (non-GAAP measures). On a similar basis and also excluding the after-tax day one provision for credit losses on acquired loans, WesBanco reported $138.5 million or $1.60 per diluted share, for the six months ended June 30, 2025, as compared to $62.5 million or $1.05 per diluted share for the six months ended June 30, 2024 (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		0.54		—		—
Add: After-tax restructuring and merger-related expenses		32,434		0.34		2,984		0.05		48,242		0.56		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)Non-GAAP net income excludes after-tax restructuring and merger-related expenses. The above 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.

Net interest income increased $100.2 million or 85.9% in the second quarter of 2025 compared to the same quarter of 2024, reflecting the impact of a larger balance sheet from the PFC acquisition, organic loan growth, higher loan and securities yields and $22.5 million of purchase accounting accretion from acquisitions. The yield on earning assets increased by a total of 45 basis points while the cost of interest bearing liabilities decreased by 43 basis points from the second quarter of 2024 to the second quarter of 2025. Average loan balances increased by 56.8% from the second quarter of 2024, mainly attributable to the PFC acquisition and organic commercial loan growth, while average securities increased by 27.6% over the same time period. Average deposits increased 56.7% over the same time period as a result of the PFC acquisition and deposit gathering and retention efforts by the retail and commercial teams producing organic deposit growth. Accretion from acquisitions benefited the second quarter 2025 net interest margin by approximately 37 basis points as compared to two basis points in the second quarter 2024 net interest margin.

Loan growth and adjustments in regional macroeconomic factors and loan concentrations resulted in a total provision for credit losses of $3.2 million in the second quarter of 2025, as compared to a provision of $10.5 million in the first quarter of 2024. Annualized net loan charge-offs, as a percentage of average portfolio loans, were 0.09% and 0.07% for the second quarters of 2025 and 2024, respectively.

For the second quarter of 2025, non-interest income increased $12.6 million, or 40.2% compared to 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 increased $2.3 million from higher volumes primarily associated with our larger customer base. Mortgage banking income increased $1.3 million due to a 32% increase in residential mortgage originations from the second quarter of 2024 to the second quarter of 2025, related to seasonality and the 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.

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 $8.3 million from the second quarter of 2024 due to higher staffing levels, as well as higher deferred compensation expense of $1.4 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 the larger asset size post acquisition. Restructuring and merger-related expenses of $41.1 million in the second quarter of 2025 are primarily related to costs associated with the systems conversion, severance, and other costs associated with the PFC merger.

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For the first six months of 2025, the effective tax rate was 21.0% as compared to 17.6% for the first six months of 2024, and the provision for income taxes decreased from $13.8 million for the first six months of 2024 to $12.9 million for the first six months of 2025. These changes were the result of increased permanent differences due to non-deductible merger and restructuring costs that occurred during the first half of 2025.

NET INTEREST INCOME

TABLE 1. NET INTEREST INCOME

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(unaudited, dollars in thousands)	2025			2024			2025			2024
Net interest income	$	216,769		$	116,593		$	375,288		$	230,560
Taxable equivalent adjustment to net interest income		1,227			1,211			2,431			2,430
Net interest income, fully taxable equivalent	$	217,996		$	117,804		$	377,719		$	232,990
Net interest spread, non-taxable equivalent		2.85	%		1.96	%		2.71	%		1.96	%
Benefit of net non-interest bearing liabilities		0.72	%		0.96	%		0.75	%		0.94	%
Net interest margin		3.57	%		2.92	%		3.46	%		2.90	%
Taxable equivalent adjustment		0.02	%		0.03	%		0.02	%		0.03	%
Net interest margin, fully taxable equivalent		3.59	%		2.95	%		3.48	%		2.93	%

Net interest income, which is Wesbanco’s largest source of revenue, is the difference between interest income on earning assets, primarily loans and securities, and interest expense on liabilities, primarily deposits and short and long-term borrowings. Net interest income is affected by the general level of, and changes in interest rates, the steepness and shape of the yield curve, changes in the amount and composition of interest earning assets and interest bearing liabilities, as well as the frequency of repricing of existing assets and liabilities. Net interest income increased $100.2 million or 85.9% in the second quarter of 2025 compared to the second quarter of 2024. The increase is due to an increase of average loans of 56.8% in the second quarter of 2025 as compared to the second quarter of 2024, due to the acquisition of PFC, strong new organic loan growth and strategic loan production office and lender hiring initiatives. In addition, total purchase accounting accretion contributed 37 basis points to the second quarter 2025 net interest margin as compared to two basis points of margin contribution in the second quarter of 2024. Total average deposits increased by $7.6 billion or 56.7% in the second quarter of 2025 as compared to the second quarter of 2024. The cost of interest bearing deposits decreased by 28 basis points and the cost of total interest bearing liabilities decreased by 43 basis points from the second quarter of 2024 to the second quarter of 2025. The decrease in the cost is primarily due to rate decreases for interest bearing deposits in response to the general decrease in overall deposit rates in the marketplace as well as purchase accounting accretion on certificates of deposit.

Interest income increased $133.4 million or 65.7% in the second quarter of 2025 compared to the same period of 2024. Average loan balances increased $6.8 billion or 56.8% in the second quarter of 2025 compared to the second quarter of 2024, while loan yields increased by 31 basis points during this same period to 6.16% due to the previously mentioned acquisition of PFC and accompanying loan growth of higher yielding loans. Loans provide the greatest impact on interest income and the yield on earning assets as they have the largest balance and the highest yield within major earning asset categories. In the second quarter of 2025, average loans represented 77.6% of average earning assets, an increase from 75.0% in the second quarter of 2024. Average total securities balances increased $997.2 million or 27.6% from the second quarter of 2024 and represented 18.9% of total earning assets in the second quarter of 2025. Taxable securities yields, which are the highest yields within total securities, increased by 83 basis points in the second quarter of 2025 from the second quarter of 2024. Tax-exempt securities yields increased 12 basis points from the second quarter of 2024.

Interest expense increased $33.2 million in the second quarter of 2025 as compared to the same period in 2024, due primarily to the acquisition of PFC. The cost of interest bearing liabilities decreased by 43 basis points from the second quarter of 2024 to 2.69% in the second quarter of 2025. Average interest bearing deposits increased $6.2 billion or 65.1% from the second quarter of 2024. The rate on interest bearing deposits decreased 28 basis points to 2.46% from the second quarter of 2024. Average non-interest bearing demand deposit balances increased from the second quarter of 2024 to the second quarter of 2025 by $1.4 billion or 36.0%, and were 25.2% of total average deposits at June 30, 2025, compared to 29.1% at June 30, 2024, due to the PFC acquisition and reflecting customers' preferences in the current interest rate environment. For the second quarter of 2025, Wesbanco's average loans to average deposits ratio was 89.4%, reflecting additional capacity to lend. The average balance of FHLB borrowings increased $399.3 million from the second quarter of 2024 to the second quarter of 2025. The average balance of repurchase agreements and subordinated and junior subordinated debt balances increased $89.4 million from the second quarter of 2024 to the second quarter of 2025.

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TABLE 2. AVERAGE BALANCE SHEETS AND NET INTEREST MARGIN ANALYSIS

	For The Three Months Ended June 30,										For the Six Months Ended June 30,
	2025					2024					2025					2024
	Average		Average			Average		Average			Average		Average			Average		Average
(unaudited, dollars in thousands)	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 the allowance for credit losses, net of unearned income and includes non-accrual loans 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, respectively. 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 debt securities are calculated based on amortized cost.

(3)Taxable equivalent basis is calculated on tax-exempt securities using the federal statutory tax 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.

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TABLE 3. RATE/VOLUME ANALYSIS OF CHANGES IN INTEREST INCOME AND INTEREST EXPENSE

	For the Three Months Ended June 30, 2025									For the Six Months Ended June 30, 2025
	Compared to June 30, 2024									Compared to June 30, 2024
(unaudited, in thousands)	Volume			Rate			Net Increase (Decrease)			Volume			Rate			Net Increase (Decrease)
Increase (decrease) in interest income:
Due from banks - interest bearing	$	4,791		$	(810	)	$	3,981		$	7,583		$	(1,889	)	$	5,694
Loans, net of unearned income		104,570			10,173			114,743			147,798			18,379			166,177
Taxable securities		7,090			7,047			14,137			8,932			10,048			18,980
Tax-exempt securities (1)		(166	)		242			76			(373	)		377			4
Other earning assets		612			(144	)		468			582			(149	)		433
Total interest income change (1)		116,897			16,508			133,405			164,522			26,766			191,288
Increase (decrease) in interest expense:
Interest bearing demand deposits		9,074			(5,594	)		3,480			13,932			(6,666	)		7,266
Money market accounts		19,696			(1,852	)		17,844			27,016			(4,151	)		22,865
Savings deposits		1,993			(1,206	)		787			2,381			(1,901	)		480
Certificates of deposit		11,819			(2,359	)		9,460			19,426			(1,656	)		17,770
Federal Home Loan Bank borrowings		4,713			(4,257	)		456			4,105			(7,614	)		(3,509	)
Repurchase agreements		87			(167	)		(80	)		577			(209	)		368
Subordinated debt and junior subordinated debt		1,160			106			1,266			1,494			(175	)		1,319
Total interest expense change		48,542			(15,329	)		33,213			68,931			(22,372	)		46,559
Net interest income change (1)	$	68,355		$	31,837		$	100,192		$	95,591		$	49,138		$	144,729

(1)Taxable equivalent basis is calculated on tax-exempt securities using the federal statutory tax rate of 21%.

PROVISION FOR CREDIT LOSSES – LOANS AND LOAN COMMITMENTS

The provision for credit losses – loans is the amount to be added to the allowance for credit losses – loans after net charge-offs have been deducted to bring the allowance to a level considered appropriate to absorb lifetime expected losses for all portfolio loans. The provision for credit losses – loan commitments is the amount to be added to the allowance for credit losses for loan commitments to bring that allowance to a level considered appropriate to absorb lifetime expected losses on unfunded loan commitments. For the six months ended June 30, 2025, Wesbanco recorded a provision for credit losses of $72.1 million, which was an increase of $57.5 million, compared to the provision for credit losses of $14.6 million recorded for the six months ended June 30, 2024, primarily due to the initial provision expense recorded for the PFC acquired loans. As compared to the same period in the prior year, the increase in provision for credit losses for the six months ended June 30, 2025, outside of the initial provision expense recorded for the PFC non-PCD acquired loans, primarily reflects an increase in the reserve for individually evaluated loans, the impact of continued uncertainty in the economic outlook on certain commercial portfolios, and an increase in the Bank’s percentage of criticized and classified loans.

Non-performing loans were 0.45% of total portfolio loans as of June 30, 2025, increasing from 0.29% of total portfolio loans at June 30, 2024. Criticized and classified loans were 3.63% of total portfolio loans as of June 30, 2025, increasing from 2.15% as of June 30, 2024, due to downgrades within the loan portfolio. Past due loans at June 30, 2025 were 0.46% of total portfolio loans, compared to 0.24% at June 30, 2024. Annualized net loan charge-offs were 0.09% for the six months ended June 30, 2025, compared to 0.14% for the six months ended June 30, 2024. Please see the Allowance for Credit Losses – Loans and Loan Commitments section of this MD&A for additional discussion.

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NON-INTEREST INCOME

TABLE 4. NON-INTEREST INCOME

	For the Three Months Ended June 30,										For the Six Months Ended June 30,
(unaudited, dollars in thousands)	2025		2024		$ Change			% Change			2025		2024		$ Change			% Change
Trust fees	$	9,657	$	7,303	$	2,354			32.2		$	18,355	$	15,385	$	2,970			19.3
Service charges on deposits		10,484		7,111		3,373			47.4			19,070		13,895		5,175			37.2
Digital banking income		7,325		5,040		2,285			45.3			12,730		9,745		2,985			30.6
Net swap fee and valuation income		746		1,776		(1,030	)		(58.0	)		1,706		3,339		(1,633	)		(48.9	)
Net securities brokerage revenue		3,348		2,601		747			28.7			6,049		5,149		900			17.5
Bank-owned life insurance		3,450		2,791		659			23.6			6,878		4,859		2,019			41.6
Net securities gains		1,410		135		1,275			944.4			1,092		672		420			62.5
Mortgage banking income		2,364		1,069		1,295			121.1			3,504		1,762		1,742			98.9
Net insurance services revenue		1,114		980		134			13.7			2,070		1,924		146			7.6
Payment processing fees		804		906		(102	)		(11.3	)		1,696		1,734		(38	)		(2.2	)
Net gain on other real estate owned and other assets		111		34		77			226.5			71		188		(117	)		(62.2	)
Other		3,144		1,609		1,535			95.4			5,401		3,332		2,069			62.1
Total non-interest income	$	43,957	$	31,355	$	12,602			40.2		$	78,622	$	61,984	$	16,638			26.8

Non-interest income is a significant source of revenue and an important part of Wesbanco’s results of operations, as it represents 16.9% of total revenue for the three months ended June 30, 2025. Wesbanco offers its customers a wide range of retail, commercial, investment and digital banking services, which are viewed as a vital component of Wesbanco’s ability to attract and maintain customers, as well as providing additional fee income beyond normal spread-related income to Wesbanco. For the second quarter of 2025, non-interest income increased $12.6 million or 40.2% compared to the second quarter of 2024, primarily due to a $3.4 million increase in service charges on deposits, a $2.4 million increase in trust fees, a $2.3 million increase in digital banking income, a $1.5 million increase in other income, a $1.3 million increase in net securities gains, and a $1.3 million increase in mortgage banking income. This was partially offset by a $1.0 million decrease in net swap fee and valuation income.

Trust fees increased $2.4 million or 32.2% compared to the second quarter of 2024, due to the addition of PFC wealth clients, market value appreciation, and organic growth. Total trust assets were $7.2 billion as of June 30, 2025 as compared to $5.6 billion on June 30, 2024. As of June 30, 2025, trust assets include managed assets of $5.8 billion and non-managed (custodial) assets of $1.4 billion. Assets managed for the WesMark Funds, a proprietary group of mutual funds that is advised by Wesbanco Trust and Investment Services, were $0.9 billion as of both June 30, 2025 and June 30, 2024, and are included in managed assets. Trust fees increased $3.0 million or 19.3% in the first six months of 2025 as compared to the first six months of 2024 for similar reasons as that for the three months ended.

Service charges on deposits increased $3.4 million or 47.4% in the second quarter of 2025 compared to the second quarter of 2024, due to the addition of PFC, fee income from new products and services and increased general consumer spending. Service charges on deposits increased $5.2 million or 37.2% in the first six months of 2025 as compared to the same period in 2024 for similar reasons as that for the three months ended.

Digital banking income increased $2.3 million or 45.3% in the second quarter of 2025 compared to the second quarter of 2024, due to higher volumes primarily associated with our larger customer base. Digital banking income increased $3.0 million or 30.6% in the first six months of 2025 as compared to the same period in 2024 for similar reason as that for the three months ended.

Net swap fee and valuation income, which includes fair value adjustments, decreased $1.0 million or 58.0% in the second quarter of 2025 compared to the second quarter of 2024, due to a decrease in swap fee income as well as negative fair value adjustments on existing swaps. For the three months ended June 30, 2025, new swaps executed of $77.5 million in notional principal resulted in $1.4 million of fee income as compared to new swaps executed of $222.7 million in notional principal, resulting in $1.8 million of fee income for the three months ended June 30, 2024. Fair value adjustments on existing swaps for the three months ended June 30, 2025 were a negative $0.7 million, and were immaterial for the three months ended June 30, 2024. For the first six months of 2025, net swap fee and valuation income decreased by $1.6 million or 48.9% from the first six months of 2024. During this time period, fair value adjustments on existing swaps decreased by $2.5 million, but was partially offset by a $0.9 million increase in new swap fee income.

Net securities gains include both gains and losses on investment security transactions as well as market value adjustments on Wesbanco's deferred compensation plan. For the three months ended June 30, 2025, net securities gains increased $1.3 million compared to the same period in 2024, primarily due to a $1.4 million increase in market adjustments on the deferred compensation plan in the second quarter of 2025 as compared to a $0.2 million increase in market adjustments in the second quarter of 2024. Net securities gains increased $0.4 million or 62.5% in the first six months of 2025 as compared to the same period in 2024 for similar reasons as that for the three months ended.

Mortgage banking income increased $1.3 million or 121.1% in the second quarter of 2025 compared to the second quarter of 2024, due to an approximate 30% year-over-year increase in residential mortgage originations related to seasonality and our larger customer base. For the second quarter of 2025, total mortgage production was $243.5 million, which increased by 31.6% from the second quarter of 2024. For the three months ended June 30, 2025, $134.8 million in mortgages were sold into the secondary market as compared to $92.1 million in the comparable 2024 period. Included

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in mortgage banking income above are a gain of $0.9 million and an immaterial loss from the fair value adjustments on mortgage loan commitments and related derivatives for the three months ended June 30, 2025 and 2024, respectively. Mortgage banking income increased by $1.7 million or 98.9% from the first six months of 2024 to the first six months of 2025 for similar reasons as that for the three months ended.

Other income increased $1.5 million or 95.4% in the second quarter of 2025 compared to the second quarter of 2024, due to an increase in mortgage servicing rights income, which was acquired from PFC, and then subsequently sold at the end of the second quarter. Other income increased $2.1 million or 62.1% in the first six months of 2025 as compared to the same period in 2024 for similar reasons as that for the three months ended.

NON-INTEREST EXPENSE

TABLE 5. NON-INTEREST EXPENSE

	For the Three Months Ended June 30,										For the Six Months Ended June 30,
(unaudited, dollars in thousands)	2025		2024		$ Change			% Change			2025		2024		$ Change			% Change
Salaries and wages	$	60,153	$	43,991	$	16,162			36.7		$	108,730	$	86,988	$	21,742			25.0
Employee benefits		18,857		10,579		8,278			78.2			31,827		22,763		9,064			39.8
Net occupancy		8,119		6,309		1,810			28.7			15,897		12,932		2,965			22.9
Equipment and software		17,140		10,457		6,683			63.9			30,190		20,465		9,725			47.5
Marketing		1,864		2,371		(507	)		(21.4	)		4,246		4,256		(10	)		(0.2	)
FDIC insurance		5,479		3,523		1,956			55.5			9,666		6,971		2,695			38.7
Amortization of intangible assets		9,204		2,072		7,132			344.2			13,427		4,164		9,263			222.5
Restructuring and merger-related expenses		41,056		3,777		37,279			987.0			61,066		3,777		57,289		NM
Professional fees		6,612		4,592		2,020			44.0			12,253		9,595		2,658			27.7
Franchise and other miscellaneous taxes		5,062		3,078		1,984			64.5			9,295		6,239		3,056			49.0
ATM and electronic banking interchange expenses		1,293		1,482		(189	)		(12.8	)		2,385		3,017		(632	)		(20.9	)
Communications		1,541		1,309		232			17.7			2,751		2,572		179			7.0
Other real estate owned and foreclosure expenses		220		43		177			411.6			318		215		103			47.9
Postage, supplies and other		9,935		8,809		1,126			12.8			18,449		15,631		2,818			18.0
Total non-interest expense	$	186,535	$	102,392	$	84,143			82.2		$	320,500	$	199,585	$	120,915			60.6

NM = Not Meaningful

Non-interest expense, excluding restructuring and merger-related expenses, increased in the second quarter of 2025 by $46.9 million or 47.5% as compared to the same quarter in 2024, principally from a $16.2 million increase in salaries and wages, a $8.3 million increase in employee benefits, a $7.1 million increase in amortization of intangible assets, a $6.7 million increase in equipment and software expense, a $2.0 million increase in FDIC insurance, a $2.0 million increase in professional fees, and a $2.0 million increase in franchise and other miscellaneous taxes.

Salaries and wages increased $16.2 million or 36.7% in the second quarter of 2025 as compared to the second quarter of 2024 mostly due to an increase from the addition of approximately 900 PFC employees into Wesbanco. Salaries and wages increased $21.7 million or 25.0% in the first six months of 2025 as compared to the first six months of 2024 due to similar reasons as that for the three months ended.

Employee benefits increased $8.3 million or 78.2% in the second quarter of 2025 as compared to the second quarter of 2024 due to higher staffing levels, as well as higher deferred compensation expense of $1.4 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. Similarly, employee benefits expense increased $9.1 million or 39.8% in the first six months of 2025 as compared to the first six months of 2024.

Equipment and software costs increased $6.7 million or 63.9% in the second quarter of 2025 as compared to the second quarter of 2024, due primarily to the acquisition of PFC and the additional cost of operating two core systems until conversion to one platform in mid-May and the continued improvements made in automating and enhancing processes. Similarly, equipment and software costs increased $9.7 million or 47.5% in the first six months of 2025 as compared to the first six months of 2024.

FDIC insurance increased $2.0 million or 55.5% in the second quarter of 2025 as compared to the second quarter of 2024 due to our larger asset size from the PFC acquisition. Similarly, FDIC insurance increased $2.7 million or 38.7% in the first six months of 2025 as compared to the first six months of 2024.

Amortization of intangible assets increased $7.1 million or 344.2% in the second quarter of 2025 as compared to the second quarter of 2024, due to the core deposit intangible asset that was created from the acquisition of PFC. Similarly, amortization of intangible assets increased $9.3 million or 222.5% in the first six months of 2025 as compared to the first six months of 2024.

Restructuring and merger-related expenses increased $37.3 million in the second quarter of 2025 as compared to the second quarter of 2024, due to costs associated with the systems conversion, severance, and other costs associated with the PFC merger and restructuring. For the six months ended June 30, 2025, restructuring and merger-related expenses increased $57.3 million from the same period in 2024 also due to expenses incurred for the acquisition of PFC.

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Professional fees increased $2.0 million or 44.0% in the second quarter of 2025 as compared to the second quarter of 2024, due to increases in legal fees, other professional fees, and consumer loan, retail loan, and business loan origination fees. Similarly, professional fees increased $2.7 million or 27.7% in the first six months of 2025 as compared to the first six months of 2024.

Franchise and other miscellaneous taxes increased $2.0 million or 64.5% in the second quarter of 2025 as compared to the second quarter of 2024, mostly due to an increase in Ohio franchise tax from the inclusion of PFC Ohio branches. Similarly, franchise and other miscellaneous taxes increased $3.1 million or 49.0% in the first six months of 2025 as compared to the first six months of 2024.

INCOME TAXES

The provision for income taxes was $13.6 million for the three months ended June 30, 2025, as compared to a provision of $6.1 million for the three months ended June 30, 2024. The increase in the provision for income taxes is due to pretax income for the three months ended June 30, 2025 exceeding that for the three months ended June 30, 2024 by $36.0 million. The provision for income taxes for the six months ended June 30, 2025 was $12.9 million, which decreased $0.9 million from the $13.8 million provision for the six months ended June 30, 2024. This decrease was the result of lower pretax income for the six months ended June 30, 2025 due primarily to the increased provision in the first quarter of 2025 as a result of the PFC acquisition.

FINANCIAL CONDITION

Total assets increased 47.6%, while shareholders' equity increased 36.9% at June 30, 2025 as compared to December 31, 2024. Total securities increased $977.7 million or 28.7% from December 31, 2024 to June 30, 2025, as a result of the PFC acquisition. In addition, approximately $775 million of lower coupon or variable rate PFC securities were sold and replaced with approximately $475 million of longer-term, higher coupon fixed rate securities. Total portfolio loans were $18.8 billion, which increased $6.2 billion or 48.8% since December 31, 2024 driven by acquired PFC loans of $5.9 billion and organic growth of $0.3 billion, stemming from the commercial teams. Deposits increased $7.0 billion or 49.7% from December 31, 2024, reflecting the addition of $6.9 billion of PFC deposits, which included $1.3 billion in certificates of deposit. At June 30, 2025, total demand deposits represented 48% of total deposits, with the non-interest bearing component representing 25%. Total FHLB borrowings increased $750.0 million or 75% during the first six months of 2025, due to the addition of borrowings from PFC and normal liquidity needs. Shareholders' equity increased $1.0 billion or 36.9% from December 31, 2024 to June 30, 2025 due to the capital impact of the acquisition of PFC.

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SECURITIES

TABLE 6. COMPOSITION OF SECURITIES (1)

	June 30,			December 31,
(unaudited, dollars in thousands)	2025			2024			Change ($)			Change (%)
Equity securities (at fair value)	$	29,538		$	13,427		$	16,111			120.0
Available-for-sale debt securities (at fair value)
U.S. Treasury		195,512			146,113			49,399			33.8
U.S. Government sponsored entities and agencies		207,247			194,242			13,005			6.7
Residential mortgage-backed securities and    collateralized mortgage obligations of    government sponsored entities and agencies		2,450,382			1,593,441			856,941			53.8
Commercial mortgage-backed securities and    collateralized mortgage obligations of    government sponsored entities and agencies		151,851			231,782			(79,931	)		(34.5	)
Asset backed securities		71,935			—			71,935			100.0
Obligations of states and political subdivisions		81,981			68,620			13,361			19.5
Corporate debt securities		63,911			11,874			52,037			438.2
Total available-for-sale debt securities	$	3,222,819		$	2,246,072		$	976,747			43.5
Held-to-maturity debt securities (at amortized cost)
U.S. Government sponsored entities and agencies	$	2,641		$	2,988		$	(347	)		(11.6	)
Residential mortgage-backed securities and    collateralized mortgage obligations of    government sponsored entities and agencies		29,896			32,803			(2,907	)		(8.9	)
Obligations of states and political subdivisions		1,089,173			1,098,957			(9,784	)		(0.9	)
Corporate debt securities		16,072			18,158			(2,086	)		(11.5	)
Total held-to-maturity debt securities		1,137,782			1,152,906			(15,124	)		(1.3	)
Total securities	$	4,390,139		$	3,412,405		$	977,734			28.7
Available-for-sale and equity securities:
Weighted average yield at the respective period end (2)		3.34	%		2.54	%
As a % of total securities		74.1	%		66.2	%
Weighted average life (in years)		5.7			6.2
Held-to-maturity securities:
Weighted average yield at the respective period end (2)		2.97	%		2.96	%
As a % of total securities		25.9	%		33.8	%
Weighted average life (in years)		7.9			8.4
Total securities:
Weighted average yield at the respective period end (2)		3.25	%		2.67	%
As a % of total securities		100.0	%		100.0	%
Weighted average life (in years)		6.3			6.9

(1)At June 30, 2025 and December 31, 2024, there were no holdings of any one issuer, other than U.S. government sponsored entities and its agencies, in an amount greater than 10% of Wesbanco’s shareholders’ equity.

(2)Weighted average yields have been calculated on a taxable-equivalent basis using the federal statutory tax rate of 21%.

Total investment securities, which are a source of liquidity for Wesbanco as well as a contributor to interest income, increased by $977.7 million or 28.7% from December 31, 2024 to June 30, 2025. Through the first six months of the year, the available-for-sale portfolio increased by $976.7 million or 43.5%, primarily due to $1.2 billion in securities acquired in the PFC acquisition and $903.9 million in purchases, offset by $873.8 million in sales, $178.2 million in paydowns, $85.9 million in maturities and calls and a decrease of $59.7 million in unrealized losses. The held-to-maturity portfolio decreased by $15.1 million or 1.3% due primarily to maturities and calls of municipal securities. The weighted average yield of the portfolio increased 58 basis points from 2.67% at December 31, 2024 to 3.25% at June 30, 2025, primarily due to the acquired PFC securities at higher yields and purchases at current higher market rates.

Total gross unrealized securities losses decreased $67.5 million from $441.7 million at December 31, 2024 to $374.2 million at June 30, 2025. The decrease in unrealized losses from December 31, 2024 was due to a decrease in market rates in 2025 to date, causing market prices to increase. Wesbanco believes that none of the unrealized losses on available-for-sale securities at June 30, 2025 require an allowance for credit losses. Please refer to Note 3, “Securities,” of the Consolidated Financial Statements for additional information. Wesbanco does not have any investments in private mortgage-backed securities or those that are collateralized by sub-prime mortgages, nor does Wesbanco have any exposure to collateralized debt obligations or government-sponsored enterprise preferred stocks.

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Net unrealized losses on available-for-sale securities included in accumulated other comprehensive income, net of tax, as of June 30, 2025 and December 31, 2024 were $178.5 million and $223.8 million, respectively. These net unrealized pre-tax losses represent temporary fluctuations resulting from changes in market rates in relation to fixed yields in the available-for-sale portfolio, and on an after-tax basis are accounted for as an adjustment to other comprehensive income in shareholders’ equity. Net unrealized pre-tax losses in the held-to-maturity portfolio, which are not accounted for in other comprehensive income, were $131.7 million at June 30, 2024, compared to $146.1 million at December 31, 2024. With approximately 26% of the investment portfolio in the held-to-maturity category, the recent volatility in interest rates does not have as much impact on other comprehensive income as if the entire portfolio were included in the available-for-sale category.

Equity securities, of which a portion consists of investments in various mutual funds held in grantor trusts formed in connection with a key officer and director deferred compensation plan, are recorded at fair value. Gains and losses due to fair value fluctuations on equity securities are included in net securities gains or losses. For those equity securities relating to the key officer and director deferred compensation plan, the corresponding change in the obligation to the employee is recognized in employee benefits expense.

The corporate and municipal bonds in Wesbanco’s held-to-maturity debt portfolio are analyzed quarterly to determine if an allowance for current expected credit losses is warranted. Wesbanco uses a database of historical financials of all corporate and municipal issuers and actual historic default and recovery rates on rated and non-rated transactions to estimate expected credit losses on an individual security basis. The expected credit losses are adjusted quarterly and are recorded in an allowance for expected credit losses on the balance sheet, which is deducted from the amortized cost basis of the held-to-maturity portfolio as a contra asset. The losses are recorded on the consolidated income statement in the provision for credit losses. Accrued interest receivable on held-to-maturity securities, which was $8.2 million and $8.4 million as of June 30, 2025 and December 31, 2024, respectively, is excluded from the estimate of credit losses. Held-to-maturity investments in U.S. Government sponsored entities and agencies as well as mortgage-backed securities and collateralized mortgage obligations, which are all either issued by a direct governmental entity or a government-sponsored entity, have no historical evidence supporting expected credit losses; therefore, Wesbanco has estimated these losses at zero, and will monitor this assumption in the future for any economic or governmental policies that could affect this assumption.

Wesbanco uses prices from independent pricing services and, to a lesser extent, indicative (non-binding) quotes from independent brokers, to measure the fair value of its securities. Wesbanco validates prices received from pricing services or brokers using a variety of methods, including, but not limited to, comparison to secondary pricing services, corroboration of pricing by reference to other independent market data such as secondary broker quotes and relevant benchmark indices, review of pricing by personnel familiar with market liquidity and other market-related conditions, review of pricing service methodologies, review of independent auditor reports received from the pricing service regarding its internal controls, and through review of inputs and assumptions used in pricing certain securities thinly traded or with limited observable data points. The procedures in place provide management with a sufficient understanding of the valuation models, assumptions, inputs and pricing to reasonably measure the fair value of Wesbanco’s securities. For additional disclosure relating to fair value measurements, refer to Note 10, “Fair Value Measurement” in the Consolidated Financial Statements.

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LOANS AND CREDIT RISK

Loans represent Wesbanco’s single largest balance sheet asset classification and the largest source of interest income. Business purpose loans consist of CRE loans and other C&I loans that are not secured by real estate. CRE loans are further segmented into land and construction loans, and loans for improved property. Consumer purpose loans consist of residential real estate loans, home equity lines of credit and other consumer loans. Loans held for sale generally consist of residential real estate loans originated for sale in the secondary market, but at times may also include other types of loans. The outstanding balance of each major category of the loan portfolio is summarized in Table 7.

The risk that borrowers will be unable or unwilling to repay their obligations and default on loans is inherent in all lending activities. Credit risk arises from many sources including general economic conditions, external events that impact businesses or industries, isolated events that impact a major employer, individual loss of employment or other personal hardships, as well as changes in interest rates or the value of collateral. Credit risk is also impacted by a concentration of exposure within a geographic market or to one or more borrowers, industries or collateral types. The primary goal in managing credit risk is to minimize the impact of default by an individual borrower or group of borrowers. Credit risk is managed through the initial underwriting process as well as through ongoing monitoring and administration of the portfolio that varies by the type of loan. The Bank’s credit policies establish standard underwriting guidelines for each type of loan and require an appropriate evaluation of the credit characteristics of each borrower. This evaluation includes the borrower’s primary source of repayment capacity; the adequacy of collateral, if any, to secure the loan; the potential value of personal guarantees as secondary sources of repayment; and other factors unique to each loan that may increase or mitigate its risk. Credit bureau scores are also considered when evaluating consumer purpose loans as well as guarantors of business purpose loans. However, the Bank does not periodically update credit bureau scores subsequent to when loans are made to determine changes in credit history.

Credit risk is mitigated for all types of loans by continuously monitoring delinquency levels and pursuing collection efforts at the earliest stage of delinquency. The Bank also monitors general economic conditions, including employment, housing activity and real estate values in its market. The Bank also periodically evaluates and changes its underwriting standards when warranted based on market conditions, the historical performance of a category of the portfolio, or other external factors. Credit risk is also regularly evaluated for the impact of adverse economic and other events that increase the risk of default and the potential loss in the event of default, to understand the impact on the Bank’s earnings and capital.

Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at inception and adjusted thereafter at any time to reflect changes in the risk profile throughout the life of each loan. The primary factors used to determine the risk grade are the sufficiency, reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. The rating system more heavily weights the debt service coverage, leverage and loan-to-value factors to derive the risk grade. Other factors that are considered at a lesser weighting include management, industry or property-type risks, payment history, collateral and personal guarantees.

TABLE 7. COMPOSITION OF LOANS (1)

	June 30, 2025				December 31, 2024
(unaudited, dollars in thousands)	Amount		% of Loans		Amount		% of Loans
Commercial real estate:
Land and construction	$	1,732,088		9.1	$	1,352,083		10.7
Improved property		8,868,122		46.8		5,974,598		47.1
Total commercial real estate		10,600,210		55.9		7,326,681		57.8
Commercial and industrial		2,819,096		14.9		1,787,277		14.1
Residential real estate		3,939,796		20.8		2,520,086		19.9
Home equity		1,052,334		5.6		821,110		6.5
Consumer		417,190		2.2		201,275		1.6
Total portfolio loans		18,828,626		99.4		12,656,429		99.9
Loans held for sale		123,019		0.6		18,695		0.1
Total loans	$	18,951,645		100.0	$	12,675,124		100.0

(1)Loans are presented gross of the allowance for loan credit losses – loans and net of unearned income, credit valuation adjustments, and unamortized net deferred loan fee income and loan origination costs.

Total portfolio loans increased $6.2 billion or 48.8% from December 31, 2024, and have increased $6.6 billion or 53.6% over the past twelve months. While most of the increase is due to the PFC acquisition, with attributable portfolio loans totaling $5.9 billion as of June 30, 2025, organic growth has occurred as well. Excluding PFC loans at acquisition, organic loans increased $0.3 billion or 2.1% since December 31, 2024 and $0.7 billion or 5.5% year-over-year. Originations for loans continue to outpace repayments, leading to organic growth in several loan categories since December 31, 2024, including 17.7% in commercial real estate ("CRE") land and construction loans, 12.9% in home equity lines of credit, 6.7% in CRE improved property and 3.1% in commercial and industrial. Organic residential real estate has decreased slightly at 0.5%, while consumer loans have decreased 26.0%.

Total loan commitments of $6.2 billion, including loans approved but not closed, increased $1.4 billion or 29.7% from December 31, 2024 due primarily to increased lines of credit from the PFC acquisition. The average line utilization percentage for the commercial portfolio was 38.7% for the three months ended June 30, 2025 compared to 35.2% for the three months ended December 31, 2024.

The commercial portfolio is monitored for potential concentrations of credit risk by market, type of lending, CRE property type, C&I and owner-occupied CRE by industry, investment CRE dependence on common tenants and industries or property types that are similarly impacted by external factors. The breakdown for all CRE – improved property is 28% owner-occupied and 72% investor-owned. The Bank has instituted additional monitoring of the office building portfolio, as remote work has put pressure on the need for dedicated office space in certain markets. The office

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portfolio breakdown within CRE – improved property is 35% owner-occupied and 65% investor-owned. Investor-owned office buildings represent 3.1% of the total loan portfolio.

Loans held for sale at both June 30, 2025 and December 31, 2024 include originated residential mortgages that are committed to be sold into the secondary market and also include such non-commercial residential construction loans as of June 30, 2025. Loans held for sale were $123.0 million at June 30, 2025, an increase of $104.3 million from December 31, 2024.

NON-PERFORMING ASSETS AND LOANS PAST DUE 90 DAYS OR MORE

Non-performing assets consist of non-accrual loans, other real estate acquired through or in lieu of foreclosure, bank premises held for sale, and repossessed automobiles acquired to satisfy defaulted consumer loans.

TABLE 8. NON-PERFORMING ASSETS

(unaudited, dollars in thousands)	June 30, 2025			December 31, 2024
Non-performing loans:
Commercial real estate - land and construction	$	1,363		$	—
Commercial real estate - improved property		30,188			19,036
Commercial and industrial		15,614			1,897
Residential real estate		26,116			12,524
Home equity		8,459			6,208
Consumer		2,579			87
Total non-performing loans	$	84,319		$	39,752
Other real estate owned and repossessed assets		958			852
Total non-performing assets	$	85,277		$	40,604
Non-performing loans/total portfolio loans		0.45	%		0.31	%
Non-performing assets/total assets		0.31	%		0.22	%
Non-performing assets/total portfolio loans, other real estate and repossessed assets		0.45	%		0.32	%

Non-performing loans consist only of non-accrual loans. Non-performing loans increased $44.6 million or 112.1% from December 31, 2024. (Please see the Notes to the Consolidated Financial Statements for additional discussion).

The following table presents past due and accruing loans excluding non-accruals:

TABLE 9. PAST DUE AND ACCRUING LOANS EXCLUDING NON-ACCRUALS

(unaudited, dollars in thousands)	June 30, 2025			December 31, 2024
Loans past due 90 days or more:
Commercial real estate - land and construction	$	—		$	—
Commercial real estate - improved property		9,134			5,561
Commercial and industrial		1,864			3,498
Residential real estate		7,418			2,489
Home equity		1,515			1,150
Consumer		959			857
Total loans past due 90 days or more		20,890			13,555
Loans past due 30 to 89 days:
Commercial real estate - land and construction		1,640			832
Commercial real estate - improved property		16,229			15,648
Commercial and industrial		5,234			9,695
Residential real estate		17,854			4,394
Home equity		13,310			10,062
Consumer		11,134			5,296
Total loans past due 30 to 89 days		65,401			45,927
Total loans 30 days or more past due	$	86,291		$	59,482
Loans past due 90 days or more and accruing to total portfolio loans		0.11	%		0.11	%
Loans past due 30-89 days and accruing to total portfolio loans		0.35	%		0.36	%

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Loans past due 30 days or more and accruing interest, excluding non-accruals, increased $26.8 million or 45.1% and represented 0.35% of total portfolio loans, compared to 0.36% of total portfolio loans at December 31, 2024. These loans continue to accrue interest because they are both well-secured and in the process of collection. Loans 90 days or more past due increased $7.3 million and represented 0.11% of total portfolio loans at both June 30, 2025 and December 31, 2024.

ALLOWANCE FOR CREDIT LOSSES - LOANS AND LOAN COMMITMENTS

As of June 30, 2025, the total allowance for credit losses – loans and commitments was $230.0 million, of which $223.8 million related to loans and $6.2 million related to loan commitments. The allowance for credit losses – loans was 1.19% of total portfolio loans as of June 30, 2025, compared to 1.10% as of December 31, 2024. The allowance for credit losses – loans individually-evaluated increased $5.2 million from December 31, 2024 to June 30, 2025. The population of individually-evaluated loans consisted of eight relationships, with a total outstanding loan balance of $43.8 million. The allowance for loans collectively-evaluated increased from December 31, 2024 to June 30, 2025 by $80.0 million, primarily due to the total allowance for credit losses related to the PFC acquisition. As of June 30, 2025, PCD loans from the PFC acquisition accounted for $10.0 million of the allowance for loans collectively-evaluated. The allowance for credit losses- loan commitments was $6.2 million at June 30, 2025 as compared to $6.1 million as of December 31, 2024, and is included in other liabilities on the Consolidated Balance Sheets.

The allowance for credit losses by loan category, presented in Note 5, “Loans and the Allowance for Credit Losses” of the Consolidated Financial Statements, summarizes the impact of changes in various factors that affect the allowance for loan losses in each segment of the portfolio. The allowance for credit losses under the current expected credit losses ("CECL") methodology is calculated utilizing the probability of default (“PD”) divided by the loss given default (“LGD”), which is then discounted to net present value. PD is the probability the asset will default within a given time frame and LGD is the percentage of the asset not expected to be collected due to default. The primary macroeconomic drivers of the quantitative model include forecasts of national unemployment and interest rates, as well as modeling adjustments for changes in prepayment speeds, portfolio mix, concentrations and loan growth. For the calculation as of June 30, 2025, the forecast was based upon a probability weighted approach which is designed to incorporate loss projections from a baseline, upside and downside economy. Due to the nonlinearity of credit losses to the economy, the asymmetry is best captured by evaluating multiple economic scenarios through a probability weighted approach. At quarter-end, national unemployment was projected to be 4.6% and subsequently increase to an average of 5.2% over the remainder of the forecast period. From December 31, 2024 to June 30, 2025, the allowance for credit losses – loans increased by $85.1 million. The increase was primarily driven by the PFC acquisition. Additional factors which contributed to the increase include quarterly changes to the economic drivers of the quantitative model, including changes to the portfolio mix, as well as an increase in the Bank’s qualitative adjustments.

Criticized and classified loans were 3.63% of total portfolio loans, or $683.3 million, at June 30, 2025, increasing from 2.80% of total portfolio loans, or $354.7 million, at December 31, 2024. See Note 5, “Loans and the Allowance for Credit Losses” for more information.

Table 10 summarizes the allocation of the allowance for credit losses to each category of the loan portfolio.

TABLE 10. ALLOCATION OF THE ALLOWANCE FOR CREDIT LOSSES – LOANS AND LOAN COMMITMENTS

(unaudited, dollars in thousands)	June 30, 2025		Percent of Total		December 31, 2024		Percent of Total
Allowance for credit losses - loans:
Commercial real estate - land and construction	$	10,916		4.7	$	8,411		5.8
Commercial real estate - improved property		99,244		43.1		59,828		41.3
Commercial and industrial		63,937		27.8		42,398		29.3
Residential real estate		34,514		15.0		21,790		15.0
Home equity		2,217		1.0		1,235		0.9
Consumer		10,717		4.7		3,391		2.3
Deposit account overdrafts		2,321		1.0		1,713		1.2
Total allowance for credit losses - loans	$	223,866		97.3	$	138,766		95.8
Allowance for credit losses - loan commitments:
Commercial real estate - land and construction	$	5,359		2.3	$	5,105		3.5
Commercial real estate - improved property		—		—		—		—
Commercial and industrial		—		—		—		—
Residential real estate		809		0.4		1,015		0.7
Home equity		—		—		—		—
Consumer		—		—		—		—
Total allowance for credit losses - loan commitments		6,168		2.7		6,120		4.2
Total allowance for credit losses - loans and loan commitments	$	230,034		100.0	$	144,886		100.0

Although the allowance for credit losses is allocated as described in Table 10, the total allowance is available to absorb actual losses in any category of the loan portfolio. However, differences between management’s estimation of probable losses and actual net charge-offs in subsequent periods for any category may necessitate future adjustments to the allowance for credit losses applicable to the category. Management believes the allowance for credit losses is appropriate to absorb expected losses at June 30, 2025.

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DEPOSITS

TABLE 11. DEPOSITS

(unaudited, dollars in thousands)	June 30, 2025		December 31, 2024		$ Change		% Change
Deposits
Non-interest bearing demand	$	5,328,181	$	3,842,758	$	1,485,423		38.7
Interest bearing demand		4,865,091		3,771,314		1,093,777		29.0
Money market		4,825,154		2,429,977		2,395,177		98.6
Savings deposits		3,192,943		2,362,736		830,207		35.1
Certificates of deposit		2,943,187		1,726,932		1,216,255		70.4
Total deposits	$	21,154,556	$	14,133,717	$	7,020,839		49.7

Deposits, which represent Wesbanco’s primary source of funds, are offered in various account forms at various rates through Wesbanco’s 251 financial centers. The FDIC insures deposits up to $250,000 per account owner.

Total deposits increased $7.0 billion or 49.7% during the first six months of 2025. Money market deposit accounts, savings deposits, and demand deposits increased 98.6%, 35.1%, and 33.9%, respectively. The net increase in deposits is attributable to acquired PFC deposits totaling $6.9 billion and reflects the benefit of deposit gathering and retention efforts by both retail and commercial teams. Deposit balances were also impacted by bonus and royalty payments for Marcellus and Utica shale gas payments from energy companies in Wesbanco’s southwestern Pennsylvania, eastern Ohio and northern West Virginia markets. In addition, Wesbanco also participates in the Insured Cash Sweep ("ICS®") deposit program. ICS® reciprocal balances totaled $1.9 billion and $1.3 billion at June 30, 2025 and December 31, 2024, respectively. In addition, ICS® one-way buys totaled $200.5 million and $200.6 million at June 30, 2025 and December 31, 2024, respectively.

Certificates of deposit increased 70.4% from December 31, 2024 to June 30, 2025 due primarily to the PFC acquisition. Wesbanco does not generally solicit brokered or other deposits out-of-market or over the internet but does participate in the Certificate of Deposit Account Registry Services ("CDARS®") program. CDARS® balances totaled $99.7 million in outstanding balances at June 30, 2025, of which $1.1 million represented one-way buys, compared to $49.8 million in total outstanding balances, none of which represented one-way buys, at December 31, 2024. Certificates of deposit greater than $250,000 were approximately $848.3 million at June 30, 2025 compared to $442.8 million at December 31, 2024. Certificates of deposit totaling approximately $2.6 billion at June 30, 2025 with a cost of 3.69% are scheduled to mature within the next 12 months. From time to time, the Bank may offer special promotions or match competitor rates on certain certificates of deposit maturities and savings products based on competition, sales strategies, liquidity needs and wholesale borrowing costs.

BORROWINGS

TABLE 12. BORROWINGS

(unaudited, dollars in thousands)	June 30, 2025		December 31, 2024		$ Change			% Change
Federal Home Loan Bank Borrowings	$	1,750,000	$	1,000,000	$	750,000			75.0
Other short-term borrowings		103,666		192,073		(88,407	)		(46.0	)
Subordinated debt and junior subordinated debt		357,762		279,308		78,454			28.1
Total	$	2,211,428	$	1,471,381	$	740,047			50.3

While borrowings are a significant source of funding for Wesbanco, they are less significant as compared to total deposits. FHLB borrowings increased $750.0 million from December 31, 2024 to June 30, 2025, as $1.2 billion in new advances and $500.0 million in advances from the PFC acquisition were partially offset by $925.0 million in maturities. The average cost of maturing FHLB advances for the first six months of 2025 was 4.68% while the average cost of new borrowings was 4.59%.

Other short-term borrowings, which may consist of federal funds purchased, repurchase agreements and overnight sweep checking accounts were $103.7 million at June 30, 2025, compared to $192.1 million at December 31, 2024. There were no outstanding federal funds purchased at either June 30, 2025 or December 31, 2024.

Subordinated debentures and junior subordinated debt increased $78.5 million to $357.8 million at June 30, 2025, primarily as a result of subordinated debentures totaling $49.1 million and junior subordinated debt totaling $31.7 million from the PFC acquisition.

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CAPITAL RESOURCES

Shareholders' equity increased $1.0 billion or 36.9% from December 31, 2024, to $3.8 billion at June 30, 2025. The increase resulted from $1.0 billion in common stock issued in the PFC acquisition, coupled with $48.4 million net earnings, and $45.0 million other comprehensive gain for the six months ended June 30, 2025, which were partially offset by the declaration of common and preferred shareholder dividends totaling $70.4 million and $5.1 million, respectively, for the six months ended June 30, 2025. Wesbanco also increased its quarterly dividend rate $0.01 per quarter to $0.37 per share in November 2024, representing a 2.8% increase over the prior quarterly rate and a cumulative 164% increase since 2010.

Wesbanco did not purchase any shares of its common stock on the open market during the six-month period ended June 30, 2025 under the current share repurchase authorization. At June 30, 2025, the remaining shares authorized to be purchased under the last approved repurchase plan totaled 918,391 shares.

Regulatory guidelines require bank holding companies and commercial banks to maintain certain minimum capital ratios and define companies as “well capitalized” that sufficiently exceed the minimum ratios. At June 30, 2025, regulatory capital levels for both the Bank and Wesbanco were substantially greater than the minimum amounts needed to be considered “well capitalized” under the regulations. There are various legal limitations under federal and state laws that limit the payment of dividends from the Bank to Wesbanco. As of June 30, 2025, under FDIC regulations, Wesbanco could receive, without prior regulatory approval, a dividend of approximately $340.2 million from the Bank.

On March 26, 2020, regulators issued interim financial rule (“IFR”) “Regulatory Capital Rule: Revised Transition of the Current Expected Losses Methodology for Allowances” in response to the disrupted economic activity from the spread of COVID-19. The IFR provides financial institutions that adopt CECL during 2020 with the option to delay for two years the estimated impact of CECL on regulatory capital, followed by a three-year transition period to phase out the aggregate amount of the capital benefit provided by the initial two-year delay (“five-year transition”). Wesbanco adopted CECL effective January 1, 2020 and elected to implement the five-year transition. The five year transition ended on January 1, 2025.

The following table summarizes risk-based capital amounts and ratios for Wesbanco and the Bank for the periods indicated:

							June 30, 2025							December 31, 2024
	Minimum			Well-								Minimum							Minimum
(unaudited, dollars in thousands)	Value(1)			Capitalized(2)			Amount		Ratio			Amount(1)		Amount		Ratio			Amount(1)
Wesbanco, Inc.
Tier 1 leverage		4.00	%		5.00	%	$	2,233,693		8.66	%	$	1,031,882	$	1,895,856		10.68	%	$	709,848
Common equity Tier 1		4.50	%		6.50	%		2,089,209		9.90	%		948,965		1,751,372		12.07	%		653,162
Tier 1 capital to risk-weighted assets		6.00	%		8.00	%		2,233,693		10.59	%		1,265,286		1,895,856		13.06	%		870,882
Total capital to risk-weighted assets		8.00	%		10.00	%		2,826,149		13.40	%		1,687,049		2,305,465		15.88	%		1,161,176
Wesbanco Bank, Inc.
Tier 1 leverage		4.00	%		5.00	%	$	2,424,314		9.41	%	$	1,030,350	$	1,834,180		10.35	%	$	708,751
Common equity Tier 1		4.50	%		6.50	%		2,424,314		11.55	%		944,149		1,834,180		12.67	%		651,633
Tier 1 capital to risk-weighted assets		6.00	%		8.00	%		2,424,314		11.55	%		1,258,865		1,834,180		12.67	%		868,844
Total capital to risk-weighted assets		8.00	%		10.00	%		2,654,828		12.65	%		1,678,487		1,966,848		13.58	%		1,158,458

(1)Minimum requirements to remain adequately capitalized.

(2)Well-capitalized under prompt corrective action regulations.

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LIQUIDITY RISK

Liquidity is defined as a financial institution’s capacity to meet its cash and collateral obligations at a reasonable cost. Liquidity risk is the risk that an institution’s financial condition or overall safety and soundness is adversely affected by an inability, or perceived inability, to meet its obligations. An institution’s obligations, and the funding sources to meet them, depend significantly on its business mix, balance sheet structure, and the cash flows of its on- and off-balance sheet obligations. Institutions confront various internal and external situations that can give rise to increased liquidity risk including funding mismatches, market constraints on funding sources, contingent liquidity events, changes in economic conditions, and exposure to credit, market, operation, legal and reputation risk. Wesbanco actively manages liquidity risk through its ability to provide adequate funds to meet changes in loan demand, unexpected outflows in deposits and other borrowings as well as to take advantage of market opportunities and meet operating cash needs. This is accomplished by maintaining liquid assets in the form of securities, sufficient borrowing capacity and a stable core deposit base. Liquidity is centrally monitored by Wesbanco’s Asset/Liability Committee (“ALCO”) with direct oversight from the Board of Directors ("BOD").

Wesbanco determines the degree of required liquidity by the relationship of total holdings of liquid assets to potential funding needs to meet unexpected deposit losses and/or loan demands. The ability to quickly convert assets to cash at a minimal loss is a primary function of managing Wesbanco’s investment portfolio. Wesbanco believes its cash flow from the loan portfolio, the investment portfolio, and other sources, adequately meet its liquidity requirements. Wesbanco’s net loans to assets ratio was 67.5% at June 30, 2025 and deposit balances funded 76.7% of assets.

The following table lists the sources of liquidity from assets at June 30, 2025 expected within the next year:

(unaudited, in thousands)
Cash and cash equivalents	$	1,157,030
Securities with a maturity date within the next year and callable securities		646,646
Projected payments and prepayments on mortgage-backed securities and collateralized mortgage obligations (1)		413,393
Loans held for sale		123,019
Accruing loans scheduled to mature		2,645,570
Normal loan repayments		2,262,934
Total sources of liquidity expected within the next year	$	7,248,592

(1)Projected prepayments are based on current prepayment speeds.

Deposit cash flows are another principal factor affecting overall Wesbanco liquidity. Deposits totaled $21.2 billion at June 30, 2025. Deposit cash flows are impacted by current interest rates, products and rates offered by Wesbanco versus various forms of competition, as well as customer behavior. Certificates of deposit scheduled to mature within one year totaled $2.6 billion at June 30, 2025, with a weighted average cost of 3.69%, which includes jumbo regular certificates of deposit totaling $1.6 billion with a weighted-average cost of 3.85%, and jumbo CDARS® certificates of deposit of $85.2 million with a weighted-average cost of 3.94%. Wesbanco had $1.1 million brokered one-way buys at June 30, 2025.

Uninsured deposits, as reported for regulatory purposes, totaled $6.7 billion at June 30, 2025, or 32% of total deposits. Uninsured deposits include $2.4 billion of public funds deposits that are over the FDIC-insured limit. Wesbanco secures these public funds deposits by pledging investment securities with a market value at or above the deposit balance. Excluding these public funds, at June 30, 2025, uninsured deposits were $4.3 billion, or 21% of total deposits.

Wesbanco maintains a line of credit with the FHLB as an additional funding source. Available credit with the FHLB approximated $5.1 billion and $3.7 billion at June 30, 2025 and December 31, 2024, respectively. The FHLB requires securities to be specifically pledged to the FHLB and maintained in a FHLB-approved custodial arrangement if the member wishes to include such securities in the maximum borrowing capacity calculation. Wesbanco has elected not to specifically pledge to the FHLB unpledged securities. Wesbanco can also use this line of credit for pledging collateral to cover public funds deposits, as an alternative to pledging securities from the investment portfolio. At June 30, 2025, the Bank had unpledged available-for-sale securities with an estimated fair value of $704.5 million, or 22.2% of the total available-for-sale portfolio. A portion of these securities could be sold for additional liquidity, or such securities could be pledged to secure additional FHLB borrowings. Approximately 65% of the portfolio is pledged to public deposit customers. Wesbanco monitors exposure to public funds deposits in relation to pledging requirements and provides ICS® deposits via IntraFi® as a solution for a portion of new and existing public fund depositors. In addition, at June 30, 2025, the Bank had unpledged held-to-maturity securities with an estimated fair value of $601.3 million. Approximately 97%, or $584.2 million of these securities are municipal securities, which can only be pledged in limited circumstances. Generally, these securities cannot be sold without tainting the remainder of the held-to-maturity portfolio. If tainting occurs, all remaining securities with the held-to-maturity designation would be required to be reclassified as available-for-sale, and the held-to-maturity designation would not be available to Wesbanco for a period of time.

Wesbanco participates in the Federal Reserve Bank’s Borrower-in-Custody Program (“BIC”) whereby Wesbanco pledges certain consumer loans as collateral for borrowings. Wesbanco did not have any BIC borrowings outstanding at June 30, 2025. Alternative funding sources may include the utilization of existing overnight lines of credit with third party banks totaling $235.0 million, none of which was outstanding at June 30, 2025, along with seeking other lines of credit, borrowings under repurchase agreement lines, increasing deposit rates to attract additional funds, accessing brokered deposits, or selling securities available-for-sale or certain types of loans.

Other short-term borrowings of $103.7 million at June 30, 2025 consisted of repurchase agreements or overnight sweep checking accounts for large commercial customers. Other short-term borrowings may also include federal funds purchased using the Federal Reserve's discount window or lines of credit with third party banks noted above. The overnight sweep checking accounts require U.S. Government securities to be pledged equal to or greater than the average deposit balance in the related customer accounts.

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The principal sources of parent company liquidity are dividends from the Bank and $136.6 million in cash and investments on hand. There are various legal limitations under federal and state laws that limit the payment of dividends from the Bank to the parent company. As of June 30, 2025, under FDIC and State of West Virginia regulations, Wesbanco could receive, without prior regulatory approval, dividends of approximately $340.2 million from the Bank. Management believes these are appropriate levels of cash for the parent company given the current environment. Management continuously monitors the adequacy of parent company cash levels and sources of liquidity through the use of metrics that relate current cash levels to historical and forecasted cash inflows and outflows.

Wesbanco had outstanding commitments to extend credit in the ordinary course of business approximating $6.2 billion and $4.5 billion at June 30, 2025 and December 31, 2024, respectively. On a historical basis, only a portion of these commitments will result in an outflow of funds. Please refer to Note 13, “Commitments and Contingent Liabilities” of the Consolidated Financial Statements and the “Loans and Credit Risk” section of this MD&A for additional information.

Federal financial regulatory agencies have previously issued guidance to provide for sound practices for managing funding and liquidity risk and strengthening liquidity risk management practices. Wesbanco maintains a comprehensive management process for identifying, measuring, monitoring, and controlling liquidity risk, which is fully integrated into its risk management process. Management believes Wesbanco has sufficient current liquidity to meet current obligations to borrowers, depositors and others and that Wesbanco’s current liquidity risk management policies and procedures, as periodically reviewed and adjusted, adequately address this guidance.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The disclosures set forth in this item are qualified by the section captioned “Forward-Looking Statements” included in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this report.

MARKET RISK

The primary objective of Wesbanco’s ALCO with direct oversight from the BOD is to maximize net interest income within established policy parameters. This objective is accomplished through the management of balance sheet composition and duration, market risk exposures arising from changing economic conditions as well as liquidity risk.

Market risk is defined as the risk of loss due to adverse changes in the fair value of financial instruments resulting from fluctuations in interest rates and bond prices. Management considers interest rate risk to be Wesbanco’s most significant market risk. Interest rate risk is the exposure to adverse changes in net interest income due to changes in interest rates. The consistency of Wesbanco’s net interest income is largely dependent on effective management of Wesbanco's interest rate risk profile. As interest rates change in the market, rates earned on interest rate-sensitive assets and rates paid on interest rate-sensitive liabilities do not necessarily move concurrently. Differing rate sensitivities may arise because fixed rate assets and liabilities may not have the same maturities, because variable rate assets and liabilities differ in the timing and/or the magnitude of rate changes, or due to the shape of the yield curve shifting over time.

Wesbanco’s ALCO is an executive management committee with Board representation, responsible for monitoring and managing interest rate risk within approved policy limits, utilizing earnings sensitivity simulation and economic value of equity ("EVE") models. These models are highly dependent on various assumptions, which change regularly as the balance sheet composition and market interest rates change. The key assumptions and strategies employed are analyzed, reviewed and documented at least quarterly by the ALCO as well as provided to the Board.

The earnings sensitivity simulation model projects changes in net interest income resulting from the effects of changes in interest rates. Forecasting changes in net interest income requires management to make certain assumptions regarding loan and security prepayment rates, call dates, changes to deposit product betas and non-maturity deposit decay rates, which may not necessarily reflect the manner in which actual cash flows, yields, and costs respond to changes in market interest rates. Assumptions are based on internally-developed models derived from institution specific data, current market rates and economic forecasts, and are internally back-tested and periodically reviewed by an independent third-party consultant. Key assumptions are reviewed quarterly and updated as deemed appropriate by management. No material assumption changes were made by management this period. The net interest income sensitivity results presented in Table 1, “Net Interest Income Sensitivity,” assumes that the balance sheet composition of interest sensitive assets and liabilities existing at the end of the period remains constant over the period being measured (otherwise known as a "static" balance sheet) and also assumes that a particular change in interest rates is reflected immediately and parallel across all tenors of the yield curve, regardless of the duration of the maturity or re-pricing of specific assets and liabilities. Since the assumptions used in the model relative to changes in interest rates are uncertain, the simulation analysis may not be indicative of actual results, particularly in times of stress. In addition, this analysis does not consider actions that management might employ in the future in response to changes in interest rates, as well as changes in earning asset and costing liability balances.

Interest rate risk policy limits are determined by measuring the anticipated change in net interest income over a twelve-month period, assuming immediate and sustained market interest rate increases and decreases of 100 - 400 basis points across the entire yield curve, as compared to a flat rate environment or base model. Wesbanco’s current policy limits this exposure for the noted interest rate changes to a reduction of between 7.5% - 20%, or less, of net interest income from the stable rate base model over a twelve-month period. The table below indicates Wesbanco’s interest rate sensitivity at June 30, 2025 and December 31, 2024, assuming the above-noted interest rate changes, as compared to a base model.

TABLE 1. NET INTEREST INCOME SENSITIVITY

Immediate Change in	Percentage Change in
Interest Rates	Net Interest Income from Base over One Year		ALCO
(basis points)	June 30, 2025	December 31, 2024	Guidelines
+200	2.2%	4.8%	(10.0%)
+100	1.0%	2.3%	(7.5%)
-100	(1.4%)	(2.2%)	(7.5%)
-200	(3.6%)	(5.1%)	(10.0%)
-300	(6.0%)	(8.4%)	(15.0%)
-400	N/A	(12.7%)	(20.0%)

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Net interest income sensitivity changes are primarily due to the impact of incorporating legacy PFC acquired balance sheet into the interest rate risk framework, in addition to the current rate and yield curve environment on base case net interest income and the related calculation of immediate parallel rate shock changes in rising and falling rate scenarios. Additional differences typically result from changes in the various earning assets and costing liabilities mix and growth rates, as well as periodic updates of various modeling assumptions. Generally, weighted average interest bearing non-maturity deposit betas utilized in modeling are 30% in up shocks and 40% in down shocks as the banking industry continues to remain in a high interest rate environment where funding cost pressures have persisted. Deposit betas, decay rates and loan prepayment speeds are adjusted periodically, but no less than annually in our models for non-maturity deposits and loans. Indicated model asset sensitivity in rising rate scenarios may be less than anticipated due to slower prepayment speeds, rate floors, below forecast loan yields, spread compression between new asset yields and funding costs, customer requests for negotiated rates, mortgage-related extension risk and other factors. In a decreasing rate environment, asset sensitivity may have greater impact on the margin than currently modeled as prepayment speeds increase, customers refinance or request rate reductions on existing loans, estimated deposit betas do not perform as modeled, or for other reasons not listed.

In addition to the aforementioned parallel rate shock earnings sensitivity simulation model, the ALCO also reviews a “dynamic” forecast scenario to project Wesbanco's "most likely" net interest income over a rolling two-year time period. This forecast is updated at least quarterly, incorporating revisions and updated assumptions into the model for estimated loan and deposit growth, expected balance sheet re-mixing strategies, changes in forecasted interest rates for various indices and yield curves, competitive market spreads for various products and other assumptions not listed. Such modeling is directionally consistent with typical parallel rate shock scenarios, and it assists in predicting changes in forecasted outcomes and potential adjustments to management plans to assist in achieving earnings goals.

Wesbanco also periodically measures the EVE, which is defined as the market value of tangible equity in various rate scenarios. Generally, changes in the EVE relate to changes in various assets and liabilities, changes in the yield curve, as well as changes in loan prepayment speeds and deposit decay rates. The following table presents these results and Wesbanco’s policy limits as of June 30, 2025 and December 31, 2024. Changes in EVE sensitivity since year-end 2024 relate to incorporating legacy PFC acquired balance sheet into the interest rate risk framework, in addition to the change in market interest rates and their impact upon the fair values of earning assets and costing liabilities.

Immediate Change in	Percentage Change in
Interest Rates	Economic Value of Equity from Base over One Year		ALCO
(basis points)	June 30, 2025	December 31, 2024	Guidelines
+200	(2.7%)	1.7%	(20.0%)
+100	(2.7%)	0.5%	(10.0%)
-100	(0.2%)	(0.5%)	(10.0%)
-200	(3.4%)	(2.9%)	(20.0%)
-300	(9.7%)	(8.2%)	(30.0%)
-400	N/A	(16.2%)	(40.0%)

The Bank has significant additional borrowing capacity with the FHLB of Pittsburgh, the Federal Reserve Bank of Cleveland and various correspondent banks, and may utilize these funding sources or interest rate swap strategies as necessary to lengthen liabilities, offset mismatches in various asset maturities and manage liquidity. CDARS® and ICS® deposits also may be utilized for similar purposes for certain customers seeking higher-yielding instruments or maintaining deposit levels below FDIC insurance limits. Significant balance sheet strategies to assist in managing the net interest margin in the current interest rate environment include:

• increasing total loans, particularly commercial and home equity loans that have variable or adjustable features;

• adjusting the percentage of sales of longer-term residential mortgage loan production into the secondary market;

• managing rates on interest bearing deposits and growing demand deposit account types to increase the relative portion of these account types to total deposits;

• employing back-to-back loan swaps for certain commercial loan customers desiring a term fixed rate loan equivalent, with the Bank receiving a variable rate;

• adjusting terms for FHLB short-term maturing borrowings to balance asset/liability mismatches; or paying them off with excess liquidity

• using CDARS® and ICS® deposit programs to manage funding needs and overall liability mix; and

• adjusting the size, mix or duration of the investment portfolio as part of liquidity and balance sheet management strategies.

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ITEM 4. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES— Wesbanco’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) have concluded that Wesbanco’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended), based on their evaluation of these controls and procedures as of the end of the period covered by this Form 10-Q, are effective to ensure that information required to be disclosed by Wesbanco in the reports it files under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to Wesbanco’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

LIMITATIONS ON THE EFFECTIVENESS OF CONTROLS— Wesbanco’s management, including the CEO and CFO, does not expect that Wesbanco’s disclosure controls and internal controls will prevent all errors and all fraud. While Wesbanco’s disclosure controls and procedures are designed to provide reasonable assurance of achieving their objective, no control system, no matter how well conceived and operated, can provide absolute assurance that the objectives of the control system are met. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls.

CHANGES IN INTERNAL CONTROLS— There have been no changes in Wesbanco's internal control over financial reporting that occurred during our fiscal quarter ended June 30, 2025 as required to be reported by paragraph (d) of Rules 13a-15 and 15d-15 under the Securities Exchange Act of 1934, that materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

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PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Wesbanco is involved in various lawsuits, claims, investigations and proceedings, which arise in the ordinary course of business. While any litigation contains an element of uncertainty, Wesbanco does not believe that a material loss related to such proceedings or claims pending or known to be threatened is reasonably possible.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

As of June 30, 2025, Wesbanco had one active stock repurchase plan. It was approved by the Board of Directors on February 24, 2022 for 3.2 million shares and provides for shares to be repurchased for general corporate purposes, which may include a subsequent resource for potential acquisitions, shareholder dividend reinvestment and employee benefit plans. The timing, price and quantity of purchases are at the discretion of Wesbanco, and the plan may be discontinued or suspended at any time. The plan has 918,391 shares remaining for repurchase.

Repurchases in the second quarter included those for Wesbanco's 401(k) and dividend reinvestment plans, as well as to facilitate a stock compensation transaction.

The following table presents the monthly share purchase activity during the quarter ended June 30, 2025:

Period	Total Number  of Shares Purchased  (1)		Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans (2)		Maximum Number of Shares that May Yet Be Purchased Under the Plans
Balance at March 31, 2025								969,589
April 1, 2025 to April 30, 2025		36,437	$	31.24		—		969,589
May 1, 2025 to May 31, 2025		4,224		30.75		—		969,589
June 1, 2025 to June 30, 2025		54,241		31.98		51,198		918,391
Total		94,902	$	31.64		51,198		918,391

(1)Total shares purchased consist of open market purchases transacted in the KSOP for employee benefit and dividend reinvestment plans.

(2)Consists of open market purchases and shares purchased from employees for the payment of withholding taxes to facilitate a stock compensation transaction.

ITEM 5. OTHER INFORMATION

Securities Trading Plans of Directors and Executive Officers

During the three months ended June 30, 2025, none of our directors or executive officers adopted, modified or terminated any Rule 10b5-1 trading arrangement or any “non-Rule 10b5-1 trading arrangement, as those terms are defined in Item 408 of Regulation S-K.”
 

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ITEM 6. EXHIBITS

10.1*	Separation Agreement, Release and Waiver of Claims, dated as of April 21, 2025, by and between Brent E. Richmond and Wesbanco Bank, Inc.
31.1	Certification of Chief Executive Officer of Periodic Report Pursuant to Rule 13a-15(e) or Rule 15d-15(e).
31.2	Certification of Chief Financial Officer of Periodic Report Pursuant to Rule 13a-15(e) or Rule 15d-15(e).
32.1	Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH	Inline XBRL Taxonomy Extension Schema with Embedded Linkbase Documents
104	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).
* Indicates management compensatory plan, contract or arrangement.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	WESBANCO, INC.
Date: August 7, 2025	/s/ Jeffrey H. Jackson
	Jeffrey H. Jackson
	President and Chief Executive Officer (Principal Executive Officer)
Date: August 7, 2025	/s/ Daniel K. Weiss, Jr.
	Daniel K. Weiss, Jr.
	Senior Executive Vice President and Chief Financial Officer
	(Principal Financial Officer)

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