Wesbanco, Inc. · NASDAQ:WSBC

Wesbanco — Q2 2025 Earnings Presentation

22 slides from Wesbanco's earnings presentation, Jul 30, 2025

  1. Slide 1: Second Quarter 2025 Earnings Call Presentation

    Second Quarter 2025 Earnings Call Presentation 29 July 2025

  2. 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

  3. Slide 3: 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 Net Income Available to Common data systems for the bank and trust Shareholders and Diluted EPS(1) department of PFC $87.3 million; $0.91/share • Net

  4. Slide 4: Key metrics

    Q2 2025 Financial and Operational Highlights Key metrics Quarter Ending H / (L) H / (L) Year-to-Date H / (L) 6/30/2025 6/30/2024 3/31/2025 6/30/2025 6/30/2024 Return on Average Assets (1)(2) 1.28% 62bp 32bp 1.14% 43bp PTPP Return on Average Assets (1)(2) 1.69% 58bp 21bp 1.60% 51bp Return on Average

  5. Slide 5: Total loan growth of 3.3% annualized quarter-over-quarter

    Q2 2025 Total Portfolio Loans Total loan growth of 3.3% annualized quarter-over-quarter ($MM) $1,478 $28 • Reflecting $5.9 billion of loans from PFC $5,902 ($837) and organic growth, total loans increased 53.6% YoY to $18.8 billion Comm'l Avg Comm'l Avg • Total organic loan growth was +5.5% YoY Payo

  6. Slide 6: Year-over-year organic deposit growth fully funded loan growth

    Q2 2025 Total Deposits Year-over-year organic deposit growth fully funded loan growth • Reflecting $6.9 billion of deposits from ($MM) PFC and organic growth, total deposits $1,641 $74 $3,231 $(125) $(86) increased 57.5% YoY to $21.2 billion $2,988 memo: PFC memo: $1,345 • Year-over-year organic dep

  7. Slide 7: Securities represent 16% of total assets

    Q2 2025 Total Securities Securities represent 16% of total assets ($MM) Equities • Tangible common equity to tangible assets 1% Held-to- ratio of 7.60%, which reflects the impact of Maturity 26% 96% States & Political Subdivisions the successful closing of the PFC acquisition 4% Other • Weighted ave

  8. Slide 8: NIM benefiting from loan growth and management of funding costs

    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 0.05% 0.18% 0.02% 0.01% (0.00%) points QoQ and 64 basis points YoY, (0.01%) through a combination of higher loan and se

  9. Slide 9: Fee income increased $12.6 million, or 40%, year-over-year

    Q2 2025 Non-Interest Income Fee income increased $12.6 million, or 40%, year-over-year • Non-interest income increased year-over- Quarter Ending % H / (L) % H / (L) year due primarily to the acquisition of PFC which drove higher service charges ($000s) 6/30/2025 6/30/2024 3/31/2025 on deposits, trus

  10. Slide 10: Majority of PFC cost savings achieved by 6/30/2025

    Q2 2025 Non-Interest Expense Majority of PFC cost savings achieved by 6/30/2025 • Non-interest expense, excluding merger Quarter Ending % H / (L) % H / (L) and restructuring charges, increased 48% YoY due to the addition of the PFC ($000s) 6/30/2025 6/30/2024 3/31/2025 expense base associated with S

  11. Slide 11: 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 0.40% 0.39% 3.52% 3.52% 3.60% 0.37% 3.29% 0.30% 2.15% 2.36% 2.80% 3.32% 3.63% 0.20% 0.17% 0.22% 0.30% 0.31% 6/30/2

  12. Slide 12: Allowance coverage ratio of 1.19%

    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 adjustme

  13. Slide 13: 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 • ~0.9 million shares continue to remain

  14. Slide 14: Appendix

    Appendix ©2025 WesBanco Inc. | All rights reserved

  15. Slide 15: Pre-Tax, Pre-Provision Income (PTPP) and Ratios

    Reconciliation Pre-Tax, Pre-Provision Income (PTPP) and Ratios Quarter Ending Year-to-Date ($000s) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Income/(Loss) before (Benefit)/Provision for Income Taxes $70,973 ($9,665) $35,015 $61,309 $78,404 Provision for Credit Losses 3,218 68,883 10,541 72,1

  16. Slide 16: 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) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net Income/(Loss) Available to Common Shareholders $54,884 ($11,523) $26,385 $43,360 $59,546 Day 1 Provision for Credit Loss

  17. Slide 17: Tangible Book Value per Share

    Reconciliation Tangible Book Value per Share Quarter Ending Year-to-Date ($000s, except shares and per share data) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Total Shareholders' Equity $3,819,220 $3,781,579 $2,544,279 $3,819,220 $2,544,279 Goodwill & Other Intangible Assets (net of deferred t

  18. Slide 18: Efficiency Ratio

    Reconciliation Efficiency Ratio Quarter Ending Year-to-Date ($000s) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Non-Interest Expense $186,535 $133,966 $102,392 $320,500 $199,585 Restructuring & Merger-Related Expense (41,056) (20,010) (3,777) (61,066) (3,777) Non-Interest Expense (excluding re

  19. Slide 19: Return on Average Assets

    Reconciliation Return on Average Assets Quarter Ending Year-to-Date ($000s) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net Income/(Loss) Available to Common Shareholders $54,884 ($11,523) $26,385 $43,360 $59,546 Day 1 Provision for Credit Losses on Acquired Loans (net of tax) $0 $46,926 $0 $4

  20. Slide 20: Return on Average Tangible Equity

    Reconciliation Return on Average Tangible Equity Quarter Ending Year-to-Date ($000s) 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net Income/(Loss) Available to Common Shareholders $54,884 ($11,523) $26,385 $43,360 $59,546 Amortization of Intangibles (tax effected at 21%) 7,271 3,336 1,637 10,6

  21. Slide 21: Tangible Equity to Tangible Assets

    Reconciliation Tangible Equity to Tangible Assets Period Ending ($000s) 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 Total Shareholders' Equity $1,122,132 $1,341,408 $1,395,321 $1,978,827 $2,593,921 $2,756,737 $2,693,166 $2,4

  22. Slide 22: Tangible Common Equity to Tangible Assets

    Reconciliation Tangible Common Equity to Tangible Assets Period Ending ($000s) 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 Total Shareholders' Equity $1,122,132 $1,341,408 $1,395,321 $1,978,827 $2,593,921 $2,756,737 $2,693,1

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