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WesBanco Announces Fourth Quarter 2021 Financial Results
WHEELING, W.Va., Jan. 25, 2022 /PRNewswire/ -- WesBanco, Inc. ("WesBanco") (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced
About this update from Wesbanco, Inc.
[{"type":"text","content":"WHEELING, W.Va., Jan. 25, 2022 /PRNewswire/ -- WesBanco, Inc. (\"WesBanco\") (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three and twelve months ended December 31, 2021. Net income available to common shareholders for the fourth quarter of 2021 was $51.6 million, with diluted earnings per share of $0.82, compared to $50.2 million and $0.75 per diluted share, respectively, for the fourth quarter of 2020. For the twelve months ended December 31, 2021, net income was $232.1 million, or $3.53 per diluted share, compared to $119.4 million, or $1.77 per diluted share, for the 2020 period. Net income available to common shareholders, excluding after-tax restructuring and merger-related expenses, for the three months ended December 31, 2021, was $51.8 million, or $0.82 per diluted share, as compared to $50.6 million and $0.76 per diluted share, respectively, in the prior year quarter (non-GAAP measures). On the same basis, net income for the twelve months ended December 31, 2021 was $237.4 million, or $3.62 per diluted share, as compared to $127.1 million, or $1.88 per diluted share, in the prior year period (non-GAAP measures).\n\n \n \n \n \n \n \n\n \nFor the Three Months Ended December 31,\nFor the Twelve Months Ended December 31,\n2021\n2020\n2021\n2020\n(unaudited, dollars in thousands, except per share amounts)\nNet Income\nDiluted \nEarnings \nPer Share\nNet Income\nDiluted Earnings \nPer Share\nNet Income\nDiluted Earnings Per Share\nNet Income\nDiluted Earnings Per Share\nNet income available to common \nshareholders (Non-GAAP)(1)\n$ 51,757\n$ 0.82\n$ 50,593\n$ 0.76\n$ 237,441\n$ 3.62\n$ 127,083\n$ 1.88\nLess: After-tax restructuring and merger-\nrelated expenses\n(140)\n-\n(383)\n(0.01)\n(5,306)\n(0.09)\n(7,683)\n(0.11)\nNet income available to common \nshareholders (GAAP)\n$ 51,617\n$ 0.82\n$ 50,210\n$ 0.75\n$ 232,135\n$ 3.53\n$ 119,400\n$ 1.77\n(1)See non-GAAP financial measures for additional information relating to the calculation of these items.\nFinancial and operational highlights during the quarter ended December 31, 2021:\nContinued expense management demonstrated by a year-to-date efficiency ratio of 58.22% (non-GAAP measure) Trust assets reached a record level of $5.6 billion, reflecting both market appreciation and organic growt...