Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Q2 2022 Earnings Presentation
17 slides from Wesbanco's earnings presentation, Jul 26, 2022
Slide 1: Second Quarter 2022 Earnings Call Presentation
26 July 2022 Second 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: Q2 2022 Financial and Operational Highlights
Q2 2022 Financial and Operational Highlights Note: financial and operational highlights during the quarter ended June 30, 2022 (1) Non-GAAP measure – please see reconciliation in appendix; excludes restructuring and merger-related expenses Solid pre-tax, pre-provision income and net income (excludin
Slide 4: Key Metrics
Q2 2022 Key Metrics Note: PTPP = pre-tax, pre-provision Non-GAAP measure – please see reconciliation in appendix Excludes restructuring and merger-related expenses
Slide 5: Total Portfolio Loans ($MM)
Q2 2022 Total Portfolio Loans ($MM) Total loan growth (excluding SBA PPP) was broad-based across all loan categories and markets +5.4 (or +21.8% annualized) quarter-over-quarter and +3.8% year-over-year Strong sequential quarter loan growth demonstrates the successful execution of our expansion into
Slide 6: Net Interest Margin (NIM)
Q2 2022 Net Interest Margin (NIM) Q2 2022 net interest margin of 3.03% increased 8 basis points sequentially, which reflects the 125 basis point increase in the federal fund rate during the last 3 months, as well as our successful deployment of excess cash through loan and securities growth When exc
Slide 7: Non-Interest Income
Q2 2022 Non-Interest Income Trust fees decreased primarily due to the decline in equity markets Net securities brokerage revenue increased due to organic growth Service charges on deposits and electronic banking fees were higher due to increased general consumer spending While originations remained
Slide 8: Non-Interest Expense
Q2 2022 Non-Interest Expense Salaries and wages increased due to higher salary expense related to normal merit increases and the hourly wage increase that we implemented last year, lower deferred loan origination costs, and higher bonus and stock option accruals FDIC insurance increased year-over-ye
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: Q2 2022 Current Expected Credit Loss (CECL)
The slight decrease in the allowance was primarily driven by improvements in the pandemic-related qualitative adjustments more than offsetting the increase from the macroeconomic forecasts utilized Allowance coverage ratio of 1.15% Excludes fair market value adjustments on previously acquired loans
Slide 11: Strong Capital Position
Strong regulatory capital ratios significantly above both regulatory requirements and well-capitalized levels, with tangible equity levels above peers Purchased ~1.1 million shares of WesBanco common stock on the open market during Q2 2022, and ~1.8 million shares remained for repurchase (as of 6/30
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