Slide 1: Fourth Quarter 2024 Earnings Call Presentation
Fourth Quarter 2024 Earnings Call Presentation 22 January 2025
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: Additional Information About the Merger and Where to Find It
Additional Information About the Merger and Where to Find It In connection with the proposed Merger, the Company filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 which includes a joint proxy statement of Premier Financial and the Company and a prospe
Slide 4: Financial and Operational Highlights
Q4 2024 Financial and Operational Highlights Loan growth of $1 billion matched by deposit growth of $1 billion • Continued strong loan growth both year- Net Income Available to Common over-year and quarter-over-quarter, Shareholders and Diluted EPS(1) driven by commercial lending $47.6 million; $0.7
Slide 5: Financial and Operational Highlights: Key metrics
Q4 2024 Financial and Operational Highlights Key metrics Quarter Ending H / (L) H / (L) Year-to-Date H / (L) 12/31/24 12/31/23 09/30/24 12/31/24 12/31/23 Return on Average Assets (1)(2) 1.02% 28bp 23bp 0.81% (7bp) PTPP Return on Average Assets (1)(2) 1.34% 24bp 22bp 1.16% (9bp) Return on Average Equ
Slide 6: Total loans up $1.0 billion year-over-year
Q4 2024 Total Portfolio Loans Total loans up $1.0 billion year-over-year ($MM) • +8.7% year-over-year and +1.6% (or +6.6% annualized) quarter-over-quarter ▪ Commercial loan growth was +10.7% year- over-year and +8.5% quarter-over-quarter annualized Comm'l Avg Comm'l Avg Payoff Yield New Yield 7.46%
Slide 7: Strong deposit growth fully funded strong loan growth
Q4 2024 Total Deposits Strong deposit growth fully funded strong loan growth • Deposits of $14.1 billion were up 7.3% ($MM) year-over-year and 8.6% annualized quarter-over-quarter, reflecting the success of our summer deposit gathering and retention campaign ▪ When excluding CDs, total deposits incr
Slide 8: Securities 18.3% of assets, down 97 basis points year-over-year
Q4 2024 Total Securities Securities 18.3% of assets, down 97 basis points year-over-year Equities • Tangible common equity to tangible assets ($MM) 0% ratio improved 108 basis points year-over- Held-to- 95% States & Political Subdivisions year to 8.70% Maturity 34% 5% Other • Weighted average yield
Slide 9: NIM benefiting from loan growth and the paydown of borrowings
Q4 2024 Net Interest Margin (NIM) NIM benefiting from loan growth and the paydown of borrowings • Q4 2024 NIM of 3.03 improved 8 basis points from the third quarter and 1 basis point from the prior year period, through a combination of higher loan and securities yields and lower funding costs • Loan
Slide 10: Fee income increased $6.3 million, or 21%, year-over-year
Q4 2024 Non-Interest Income Fee income increased $6.3 million, or 21%, year-over-year • Non-interest income increased year-over- Quarter Ending % H / (L) % H / (L) year reflecting growth in net swap fee and ($000s) 12/31/24 12/31/23 09/30/24 valuation income, trust fees, and service charges on depos
Slide 11: Focused on efficiency gains to support positive operating leverage
Q4 2024 Non-Interest Expense Focused on efficiency gains to support positive operating leverage • Non-interest expense, excluding merger Quarter Ending % H / (L) % H / (L) and restructuring charges, increased just ($000s) 12/31/24 12/31/23 09/30/24 1% year-over-year, reflecting company- wide efficie
Slide 12: Favorable asset quality measures compared to peer bank group
Strong Legacy of Credit Quality Favorable asset quality measures compared to peer bank group Criticized & Classified Loans as % of Total Loans Non-Performing Assets as % of Total Assets 3.61% 0.44% 3.40% 3.21% 3.02% 0.36% 0.38% 0.33% 2.22% 2.30% 2.15% 2.36% 2.80% 0.16% 0.19% 0.20% 0.17% 0.22% 12/31/
Slide 13: Allowance coverage ratio of 1.10%
Q4 2024 Current Expected Credit Loss (CECL) Allowance coverage ratio of 1.10% • The allowance for credit losses was $138.8 million at December 31, 2024, which provided a coverage ratio of 1.10% • Excluded from the allowance for credit losses and related coverage ratio are fair market value adjustmen
Slide 14: Capital ratios above both regulatory and well-capitalized levels
Strong Capital Position Capital ratios above both regulatory and well-capitalized levels • Strong regulatory capital ratios significantly above both regulatory requirements and well- capitalized levels, with favorable tangible equity levels compared to peers • ~1.0 million shares continue to remain
Slide 15: Appendix
Appendix ©2025 WesBanco Inc. | All rights reserved
Slide 16: Pre-Tax, Pre-Provision Income (PTPP) and Ratios
Reconciliation Pre-Tax, Pre-Provision Income (PTPP) and Ratios Quarter Ending Year-to-Date ($000s) 12/31/24 09/30/24 12/31/23 12/31/24 12/31/23 Income before Provision for Income Taxes $61,937 $44,773 $43,526 $185,114 $194,049 Provision for Credit Losses (147) 4,798 4,803 19,206 17,734 Pre-Tax, Pre-
Slide 17: Net Income and Diluted Earnings per Share (EPS)
Reconciliation Net Income and Diluted Earnings per Share (EPS) Quarter Ending Year-to-Date ($000s, except earnings per share) 12/31/24 09/30/24 12/31/23 12/31/24 12/31/23 Net Income Available to Common Shareholders $47,098 $34,741 $32,437 $141,385 $148,907 Restructuring and Merger-Related Expense (n
Slide 18: Tangible Book Value per Share
Reconciliation Tangible Book Value per Share Quarter Ending Year-to-Date ($000s, except shares and per share data) 12/31/24 09/30/24 12/31/23 12/31/24 12/31/23 Total Shareholders' Equity $2,790,281 $2,801,585 $2,533,062 $2,790,281 $2,533,062 Goodwill & Other Intangible Assets (net of deferred tax li
Slide 19: Efficiency Ratio
Reconciliation Efficiency Ratio Quarter Ending Year-to-Date ($000s) 12/31/24 09/30/24 12/31/23 12/31/24 12/31/23 Non-Interest Expense $101,104 $101,183 $99,503 $401,871 $390,002 Restructuring & Merger-Related Expense (646) (1,977) 0 (6,400) (3,830) Non-Interest Expense (excluding restructuring and m
Slide 20: Return on Average Assets
Reconciliation Return on Average Assets Quarter Ending Year-to-Date ($000s) 12/31/24 09/30/24 12/31/23 12/31/24 12/31/23 Net Income Available to Common Shareholders $47,098 $34,741 $32,437 $141,385 $148,907 Restructuring and Merger-Related Expenses (net of tax) 510 1,562 0 5,056 3,026 Net Income Ava
Slide 21: Return on Average Tangible Equity
Reconciliation Return on Average Tangible Equity Quarter Ending Year-to-Date ($000s) 12/31/24 09/30/24 12/31/23 12/31/24 12/31/23 Net Income Available to Common Shareholders $47,098 $34,741 $32,437 $141,385 $148,907 Amortization of Intangibles (tax effected at 21%) 1,607 1,622 1,772 6,518 7,180 Net
Slide 22: Tangible Equity to Tangible Assets
Reconciliation Tangible Equity to Tangible Assets Period Ending ($000s) 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 Total Shareholders' Equity $580,319 $659,371 $588,716 $606,863 $63