Business Segments

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Business Segments

NOTE 10. BUSINESS SEGMENTS

WesBanco operates two reportable segments: community banking and trust and investment services. WesBanco’s community banking segment offers services traditionally offered by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services. The trust and investment services segment offers trust services as well as various alternative investment products including mutual funds. The market value of assets managed or held in custody by the trust and investment services segment was approximately $3.4 billion and $3.1 billion at June 30, 2013 and 2012, respectively. These assets are held by WesBanco in fiduciary or agency capacities for their customers and therefore are not included as assets on WesBanco’s Consolidated Balance Sheets.

Condensed financial information by business segment is presented below:

(unaudited, in thousands)	Community Banking		Trust and Investment Services		Consolidated
For the Three Months ended June 30, 2013:
Interest income	$	54,424	$	—	$	54,424
Interest expense		8,435		—		8,435
Net interest income		45,989		—		45,989
Provision for credit losses		1,021		—		1,021
Net interest income after provision for credit losses		44,968		—		44,968
Non-interest income		12,901		4,823		17,724
Non-interest expense		36,620		2,879		39,499
Income before provision for income taxes		21,249		1,944		23,193
Provision for income taxes		5,399		777		6,176
Net income	$	15,850	$	1,167	$	17,017
For the Three Months ended June 30, 2012:
Interest income	$	52,545	$	—	$	52,545
Interest expense		11,005		—		11,005
Net interest income		41,540		—		41,540
Provision for credit losses		5,903		—		5,903
Net interest income after provision for credit losses		35,637		—		35,637
Non-interest income		11,636		4,258		15,894
Non-interest expense		33,446		2,638		36,084
Income before provision for income taxes		13,827		1,620		15,447
Provision for income taxes		2,802		647		3,449
Net income	$	11,025	$	973	$	11,998
For the Six Months ended June 30, 2013:
Interest income	$	109,317	$	—	$	109,317
Interest expense		17,199		—		17,199
Net interest income		92,118		—		92,118
Provision for credit losses		3,123		—		3,123
Net interest income after provision for credit losses		88,995		—		88,995
Non-interest income		25,380		9,840		35,220
Non-interest expense		74,372		5,874		80,246
Income before provision for income taxes		40,003		3,966		43,969
Provision for income taxes		9,346		1,586		10,932
Net income	$	30,657	$	2,380	$	33,037
For the Six Months ended June 30, 2012:
Interest income	$	106,226	$	—	$	106,226
Interest expense		22,855		—		22,855
Net interest income		83,371		—		83,371
Provision for credit losses		12,105		—		12,105
Net interest income after provision for credit losses		71,266		—		71,266
Non-interest income		22,204		9,011		31,215
Non-interest expense		66,254		5,495		71,749
Income before provision for income taxes		27,216		3,516		30,732
Provision for income taxes		5,338		1,406		6,744
Net income	$	21,878	$	2,110	$	23,988

Total non-fiduciary assets of the trust and investment services segment were $3.1 million and $2.9 million at June 30, 2013 and 2012, respectively. All goodwill and other intangible assets were allocated to the community banking segment.