Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Investor Presentation (September 2025)
34 slides from Wesbanco's investor presentation, Sep 10, 2025
Slide 1: WesBanco Investor Presentation September 2025
WesBanco Investor Presentation September 2025
Slide 2: Forward-looking statements and non-GAAP financial measures
Forward-looking statements and non-GAAP financial measures Forward the safe-harbor lookingprovisions statements ofin the this Private reportSecurities relating toLitigation WesBanco’s Reform plans, Actstrategies, of 1995. The objectives, information expectations, contained intentions in this report
Slide 3: Differentiated Regional Financial Services Institution
Differentiated Regional Financial Services Institution Franchise overview Balance Sheet $28B $21B $19B Assets Deposits Loans Q2 2025 Profitability 1.28% 18.4% 3.59% ROAA excl. ROATCE excl. (1) (1) NIM items items Capital 7.6% 9.9% 13.4% TCE / TA CET1 TRBC Asset Quality 0.45% 0.09% 1.19% NPAs / Loans
Slide 4: Deep Talent: Experienced management team
Deep Talent Experienced management team Jeffrey H. Jackson – President & CEO Mr. Jackson served as SEVP and COO of the Company and President and COO of the Bank from August 15, 2022 until August 1, 2023. He held multiple executive roles at First Horizon Bank. Mr. Jackson is a graduate from Auburn Un
Slide 5: Franchise-Enhancing Expansion
Franchise se -Enhancing -E hancing Expansion Expa sion Loan production office strategy and targeted acquisitions Contiguous Markets Expansion Targeted acquisitions in existing markets and higher-growth metro areas, as well as a complementary LPO strategy Long-term focus on appropriate capital manage
Slide 6: Historical Balance Sheet Growth
Historical Balance Sheet Growth Disciplined organic growth story augmented by M&A Total Assets ($B) Total Loans ($B) $27.4 $27.6 $18.7 $16.9 $16.9 $17.7 CAGR 15% 2021 2022 2023 2024 Q1 2025 Q2 2025 $18.7 $18.8 CAGR $12.7 $11.6 21% $10.7 $9.7 2021 2022 2023 2024 Q1 2025 Q2 2025 Total Deposits ($B) $2
Slide 7: Stronghold in Attractive Markets
n Stronghold in Attractive Markets Continued market share in strong markets Top 10 Markets in 2020 Top 10 Markets Today Deposits in Deposits in Number of Market Market Market Number of Market Market Market Market (MSA) Branches ($000) Rank Share Market (MSA) Branches ($000) Rank Share Wheeling, WV-O
Slide 8: Core Deposit Funding and Pricing Advantages
Core Deposit Funding and Pricing Advantages Differentiated and competitive deposit profile • Granular core deposit funding base supports diversified commercial and retail strategy and provides a rate-resilient funding base Q2 2025 Deposit Composition demonstrated by low beta in last cycle Competitiv
Slide 9: Wealth Management
Wealth Management Strong capabilities built upon a century of success Trust & Investment Services Securities Brokerage $7.2B of trust and mutual fund $2.6B in account value assets under management 11,700+ accounts* 7,900+ relationships Private Client Securities investment sales Legacy market private
Slide 10: Delivering Positive Operating Leverage
Delivering Positive Operating Leverage Track-record of expense control with on-going enhancement efforts • Track-record of disciplined growth, balanced by a fundamental focus on expense management and supported by franchise-enhancing acquisitions, in order to deliver positive operating leverage and
Slide 11: Strong Risk Management
Strong Risk Management Capital ratios above both regulatory and well-capitalized levels • Strong legacy of credit and risk management and regulatory compliance Based upon conservative underwriting standards and approval processes supported by centralized back-office and loan funding functions Mature
Slide 12: Competitive Advantages
Competitive Advantages Investment highlights Leading regional bank with a diversified, relationship-based lending model Experienced executive management team with proven track records High quality franchise with significant presence in attractive urban markets Disciplined organic growth model suppor
Slide 13: Q2 2025 Financial and Operational Highlights
Q2 2025 Financial and Operational Highlights Net interest margin of 3.59% and successful PFC systems conversion • Successfully converted the customer data systems Net Income Available to for the bank and trust department of PFC Common Shareholders and Diluted EPS(1) $87.3 million; $0.91/share • Net
Slide 14: Q2 2025 Total Portfolio Loans
Q2 2025 Total Portfolio Loans Total loan growth of 3.3% annualized quarter-over-quarter (Dollars in millions) Reflecting $5.9 billion of loans from PFC and organic growth, total loans increased 53.6% YoY to $18.8 billion Total organic loan growth was +5.5% YoY and Comm’l Avg Comm’l Avg +0.8% (or +3.
Slide 15: Evolution of the Loan Portfolio
Evolution of the Loan Portfolio Loan portfolio composition Loan Portfolio Composition Q2 2025 Commercial Loan Risk Grades Q4 2024 (Before PFC) Q2 2025 (With PFC) No “Classified – Doubtful” loans Yield on Loans: 5.80% Yield on Loans: 6.16% Commercial and Industrial Commercial and Industrial Pass 14%
Slide 16: Commercial Portfolio
Commercial Portfolio Geography & industry breakdown Commercial Real Estate Portfolio (1) Commercial & Industrial Portfolio Geography Breakdown Morgantown Ft. Wayne Louisville Akron 4.9% 4.8% Lexington 6.6% 5.7% Pittsburgh 4.6% Cleveland 5.2% Findlay Cincinnati 5.7% 4.3% 6.8% Morgantown Cleveland Akr
Slide 17: Non-Owner Occupied Commercial Real Estate Portfolio
Non-Owner Occupied Commercial Real Estate Portfolio Maturity schedule (Dollars in millions) $5,072 $1,239 $1,030 $832 2025 2026 2027 2028 & Later 2025 WesBanco, Inc. | All rights reserved 17 Note: Data as of 6/30/2025.
Slide 18: Strong Legacy of Credit Quality
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 0.41% 3.55% 3.63% 0.38% 3.07% 0.35% 0.32% 2.35% 2.73% 0.28% 3.75% 2.34% 2.22% 2.80% 3.63% 0.23% 0.25% 0.16% 0.22%
Slide 19: Securities
Securities Highly liquid securities portfolio Q4 2024 (Before PFC) Q2 2025 (With PFC) 2025 Q2 Portfolio Composition HTM—Obligations of state HTM—Obligations of state 32% 25% AFS—Asset Other (1) AFS and Equity Securities Other(1) backed 3% 2% AFS—1% (2) AFS—U.S. Treasury Obligations AFS—U.S. Weighted
Slide 20: Q2 2025 Total Deposits
Q2 2025 Total Deposits Year-over-year organic deposit growth fully funded loan growth • Reflecting $6.9 billion of deposits from PFC and (Dollars in millions) organic growth, total deposits increased 57.5% YoY to $21.2 billion memo: PFC Year-over-year organic deposit growth of $850 memo: $1,345 mill
Slide 21: Q2 2025 Net Interest Margin (NIM)
Q2 2025 Net Interest Margin (NIM) NIM benefiting from loan growth and management of funding costs Net Interest Margin QoQ Change (weighted) • Q2 2025 NIM of 3.59% improved 24 basis points QoQ and 64 basis points YoY, through a combination of higher loan and securities yields, lower funding costs, an
Slide 22: Q2 2025 Non-Interest Income
Q2 2025 Non-Interest Income Fee income increased $12.6 million, or 40%, year-over-year • Non-interest income increased year-over-year Quarter Ending % H / (L) % H / (L) due primarily to the acquisition of PFC which drove higher service charges on deposits, trust ($000s) 6/30/2025 6/30/2024 3/31/2025
Slide 23: Strong Risk Management and Capital Position
Strong Risk Management and Capital Position Capital ratios above both regulatory and well-capitalized levels TCE / TA(1) Tier 1 Leverage Capital Ratio Well-Capitalized 5.0% 9.43% 7.58% 7.35% 7.52% 7.60% 10.4% 9.5% 9.8% 9.7% 8.7% Q2 2021 Q2 2022 Q2 2023 Q2 2024 Q2 2025 Q2 2021 Q2 2022 Q2 2023 Q2 2024
Slide 24: Disciplined Execution upon Growth Strategies
Disciplined Execution upon Growth Strategies Comparable operating measures to peer bank group Return on Average Tangible Common Equity(1) Return on Average Assets(1) 16.7% 15.8% 15.9% 15.5% 16.0% 1.40% 1.22% 13.2% 12.0% 1.30% 1.09% 1.14% 12.4% 0.99% 11.0% 11.0% 0.90% 1.03% 0.81% 0.88% 5.8% 16.4% 15.
Slide 25: Appendix
Appendix ©2025 WesBanco, Inc. | All rights reserved
Slide 26: Historical Coverage and Holding Company Debt Downstream Analysis
Historical Coverage and Holding Company Debt Downstream Analysis Double leverage and interest coverage Fiscal Year Ended, Quarter Ended, ($ in millions) 2021 2022 2023 2024 Q2 2025 Double Leverage Bank-Level Equity $2,636 $2,408 $2,541 $2,729 $4,010 Consolidated Equity 2,693 2,427 2,533 2,790 3,819
Slide 27: Positioning the Company For A More Neutral Balance Sheet
Positioning the Company For A More Neutral Balance Sheet NII and EVE shock analysis NII Shock Analysis ALCO (20.0%) (15.0%) (10.0%) (7.5%) (7.5%) (10.0%) Guidelines 4.8% 2.3% 1.0% 2.2% NA (2.2%)(1.4%) (3.6%) (6.0%) (5.1%) (8.4%) Immediate (12.7%) Change In Interest - 400—300—200—100 + 100 + 200 Rate
Slide 28: Q2 2025 Current Expected Credit Loss (CECL)
Q2 2025 Current Expected Credit Loss (CECL) Allowance coverage ratio of 1.19% The allowance for credit losses on loans was $223.9 million at 6/30/2025, which provided a coverage ratio of 1.19% Excluded from the allowance for credit losses and related coverage ratio are fair market value adjustments
Slide 29: Reconciliation: Tangible common equity to tangible assets
Reconciliation Tangible common equity to tangible assets Period Ending ($000s) 6/30/2021 12/31/2021 6/30/2022 12/31/2022 6/30/2023 12/31/2023 6/30/2024 12/31/2024 3/31/2025 6/30/2025 Total Shareholders’ Equity $2,780,836 $2,693,166 $2,467,951 $2,426,662 $2,464,998 $2,533,062 $2,544,279 $2,790,281 $3
Slide 30: Reconciliation: Return on average assets
Reconciliation Return on average assets Three Months Ending Six Months Ending Twelve Months Ending ($000s) 6/30/2024 6/30/2025 6/30/2024 6/30/2025 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 Net Income/(Loss) Available to Common Shareholders $26,385 $54,884 $59,546 $43,360 $119,400 $232,1
Slide 31: Reconciliation: Return on average tangible common equity
Reconciliation Return on average tangible common equity Three Months Ending Six Months Ending Twelve Months Ending ($000s) 6/30/2024 6/30/2025 6/30/2024 6/30/2025 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 Net Income/(Loss) Available to Common Shareholders $26,385 $54,884 $59,546 $43,360
Slide 32: Reconciliation: Non-interest expense and efficiency ratio
Reconciliation Non-interest expense to total assets and efficiency ratio Three Months Ending Six Months Ending Twelve Months Ending ($000s) 6/30/2024 3/31/2025 6/30/2025 6/30/2024 6/30/2025 12/31/2009 12/31/2010 12/31/2011 12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018
Slide 33: Reconciliation: Net income and diluted EPS
Reconciliation Net income and diluted earnings per share (EPS) Three Months Ending Six Months Ending ($000s, except earnings per share) 6/30/2024 3/31/2025 6/30/2025 6/30/2024 6/30/2025 Net Income/(Loss) Available to Common Shareholders $26,385 ($11,523) $54,884 $59,546 $43,360 Restructuring and Mer
Slide 34: Reconciliation: Pre-tax income excl. restructuring and merger related expenses
Reconciliation Pre-tax income excl. restructuring and merger related expenses Three Months Ending Twelve Months Ending ($000s) 3/31/2025 6/30/2025 12/31/2021 12/31/2022 12/31/2023 12/31/2024 Income before Provision for Income Taxes ($9,665) $70,973 $301,849 $236,401 $194,049 $185,114 Restructuring a