Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Q1 2025 Earnings Presentation
21 slides from Wesbanco's earnings presentation, Apr 29, 2025
Slide 1: First Quarter 2025 Earnings Call Presentation
First Quarter 2025 Earnings Call Presentation 29 April 2025 Note: update footnote copyright year annually
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 2025 Financial and Operational Highlights
Successfully closed the acquisition of Premier Financial (“PFC”) on 2/28/2025 Significant economies of scale and strong pro forma profitability metrics Total organic loan growth was 7.8% YoY and 4.4% QoQ (annualized), and fully funded through deposit growth Total organic deposit growth was 6.8% YoY
Slide 4: Key metrics
Key metrics Note: PTPP = pre-tax, pre-provision Non-GAAP measure – please see reconciliation in appendix Excludes restructuring and merger-related expenses and/or day 1 provision for credit losses on acquired loans Q1 2025 Financial and Operational Highlights
Slide 5: Allowance coverage ratio of 1.25%
Allowance coverage ratio of 1.25% Note: ACL at 3/31/2025 excludes off-balance sheet credit exposures of $6.5 million; CECL allowance for losses on acquired loans of $87.1 million in the chart excludes $1.4 million which reflects the reserve on commitments and charge-offs on the acquired portfolio fo
Slide 6: Total loans increased 57.3% YoY to $18.7 billion
Reflecting $5.9 billion of loans from PFC and organic growth, total loans increased 57.3% YoY to $18.7 billion Total organic loan growth was +7.8% YoY and +1.1% (or +4.4% annualized) QoQ, which was driven by commercial loan growth of +9.8% YoY and +6.6% QoQ annualized PFC and loan production offices
Slide 7: Strong organic deposit growth fully funded strong loan growth
Strong organic deposit growth fully funded strong loan growth Note: “uninsured deposits” are approximated; “collateralized municipal deposits” are collateralized by securities Reflecting $6.9 billion of deposits from PFC and organic growth, total deposits increased 57.8% YoY to $21.3 billion Strong
Slide 8: Restructuring of PFC securities portfolio improves average yield
Tangible common equity to tangible assets ratio of 7.47%, which reflects the impact of the successful closing of the PFC acquisition Sold $775 million of acquired PFC securities and replaced with purchases of $475 million Sold securities were either low coupon or variable rate while purchases were h
Slide 9: NIM benefiting from loan growth and management of funding costs
NIM benefiting from loan growth and management of funding costs Q1 2025 NIM of 3.35% improved 32 basis points from the fourth quarter and 43 basis point from the prior year period, through a combination of higher loan and securities yields, lower funding costs, and purchase accounting accretion Inte
Slide 10: Q1 2025 Non-Interest Income
Non-interest income increased year-over-year due primarily to the acquisition of PFC which drove higher service charges on deposits, bank-owned life insurance (“BOLI”), digital banking income, and trust fees Service charges on deposits reflect the addition of PFC, fee income from new products and se
Slide 11: Q1 2025 Non-Interest Expense
Focused on efficiency gains to support positive operating leverage Q1 2025 Non-Interest Expense Non-interest expense, excluding merger and restructuring charges, increased 17% YoY primarily due to the addition of the PFC expense base associated with approximately 900 employees and 70 financial cente
Slide 12: Favorable asset quality measures compared to peer bank group
Favorable asset quality measures compared to peer bank group Note: financial data as of quarter ending for dates specified; peer bank group includes all U.S. banks with total assets of $20B to $50B (excluding FINN) from S&P Capital IQ (as of 4/18/2025) and represent simple averages except criticized
Slide 13: Capital ratios above both regulatory and well-capitalized levels
Capital ratios above both regulatory and well-capitalized levels Note: financial data as of quarter ending 12/31; current year data as of 3/31/2025 and reflects successful acquisition of PFC; WSBC adopted Current Expected Credit Losses (“CECL”) accounting standard on 1/1/2020; in conjunction with th
Slide 14: WesBanco Appendix
Ww ; WesBanco Appendix ©2025 WesBanco Inc. | All rights reserved
Slide 15: Pre-Tax, Pre-Provision Income (PTPP) and Ratios Reconciliation
Pre-Tax, Pre-Provision Income (PTPP) and Ratios Reconciliation
Slide 16: Net Income and Diluted Earnings per Share (EPS) Reconciliation
Net Income and Diluted Earnings per Share (EPS) Reconciliation
Slide 17: Tangible Book Value per Share Reconciliation
Tangible Book Value per Share Reconciliation
Slide 18: Efficiency Ratio Reconciliation
Efficiency Ratio Reconciliation
Slide 19: Return on Average Assets Reconciliation
Return on Average Assets (1) three-, six-, and nine-month (as applicable) figures are annualized Reconciliation
Slide 20: Return on Average Tangible Equity Reconciliation
Return on Average Tangible Equity (1) three-, six-, and nine-month (as applicable) figures are annualized Reconciliation
Slide 21: Tangible Equity and Tangible Common Equity to Tangible Assets
Tangible Equity and Tangible Common Equity to Tangible Assets Note: Premier Financial Corporation merger closed February 2025; Old Line Bancshares merger closed November 2019; Farmers Capital Bank Corporation merger closed August 2018; First Sentry Bancshares merger closed April 2018; Your Community