Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Q1 2022 Earnings Presentation
17 slides from Wesbanco's earnings presentation, Apr 26, 2022
Slide 1: First Quarter 2022 Earnings Call Presentation
26 April 2022 First Quarter 2022 Earnings Call Presentation
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures 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 A
Slide 3: Q1 2022 Financial and Operational Highlights
Q1 2022 Financial and Operational Highlights Note: financial and operational highlights during the quarter ended March 31, 2022 (1) Non-GAAP measure – please see reconciliation in appendix Solid pre-tax, pre-provision income and net income (excluding restructuring & merger-related expenses) Sequenti
Slide 4: Q1 2022 Key Metrics
Note: PTPP = pre-tax, pre-provision Non-GAAP measure – please see reconciliation in appendix Excludes restructuring and merger-related expenses Q1 2022 Key Metrics
Slide 5: Q1 2022 Total Portfolio Loans ($MM)
Q1 2022 Total Portfolio Loans ($MM) Total loan growth (excluding SBA PPP) was 0.9% sequentially, or 3.6% annualized Sequential quarter total commercial loan growth of 2.9% (annualized) driven by both commercial real estate and C&I (excluding SBA PPP) Residential mortgage growth of 7.5% year-over-yea
Slide 6: Q1 2022 Net Interest Margin (NIM)
Q1 2022 Net Interest Margin (NIM) NIM negatively impacted by the lower interest rate environment, and a shift to a higher level of securities as a percentage of total assets As a result of higher cash balances from our customers’ higher personal savings, investment securities as of 3/31/2022 represe
Slide 7: Q1 2022 Non-Interest Income
Q1 2022 Non-Interest Income Trust fees and net securities brokerage revenue increased primarily from net organic growth Service charges on deposits and electronic banking fees were higher due to increased general consumer spending Bank-owned life insurance reflects higher death benefits of $1.9 mill
Slide 8: Q1 2022 Non-Interest Expense
Q1 2022 Non-Interest Expense Salaries and wages year-over-year increased due to lower deferred loan origination costs and the impact of normal merit increases and the hourly wage increase implemented last year Salaries and wages were down sequentially due to the lower day count during Q1 2022 Employ
Slide 9: Strong Legacy of Credit Quality
Non-Performing Assets as % of Total Assets Net Charge-Offs as % of Average Loans (Annualized) Allowance for Credit Losses as % of Total Loans Criticized & Classified Loans as % of Total Loans Favorable asset quality measures compared to all U.S. banks with total assets from $10B to $25B Strong Legac
Slide 10: Q1 2022 Current Expected Credit Loss (CECL)
The decrease in the allowance was primarily driven by improvements in the macroeconomic forecasts utilized These improvements resulted in a negative provision for credit losses of $3.4 million Allowance coverage ratio of 1.21%, or, excluding SBA PPP loans, 1.22% Excludes fair market value adjustment
Slide 11: Strong Capital Position
Strong regulatory capital ratios significantly above both regulatory requirements and well-capitalized levels, with tangible equity levels above peers Ratios reflect issuance through a public offering, $150 million of fixed-to-floating subordinated debt, which qualifies as Tier 2 capital Purchased ~
Slide 12: Appendix
w W WesBanco By all accounts, better. Appendix
Slide 13: Reconciliation: Pre-Tax, Pre-Provision Income (PTPP) and Ratios
Reconciliation: Pre-Tax, Pre-Provision Income (PTPP) and Ratios
Slide 14: Reconciliation: Net Income, EPS (Diluted), Tangible Book Value per Share
Reconciliation: Net Income, EPS (Diluted), Tangible Book Value per Share
Slide 15: Reconciliation: Efficiency Ratio
Reconciliation: Efficiency Ratio Note: “efficiency ratio” is non-interest expense excluding restructuring and merger-related expense divided by total income; FTE represents fully taxable equivalent
Slide 16: Reconciliation: Return on Average Assets and Tangible Equity to Tangible Assets
Reconciliation: Return on Average Assets and Tangible Equity to Tangible Assets (1) three-, six-, and nine-month (as applicable) figures are annualized Note: Old Line Bancshares merger closed November 2019; Farmers Capital Bank Corporation merger closed August 2018; First Sentry Bancshares merger cl
Slide 17: Reconciliation: Return on Average Tangible Equity
Reconciliation: Return on Average Tangible Equity (1) three-, six-, and nine-month (as applicable) figures are annualized