Wesbanco, Inc. · NASDAQ:WSBC
Wesbanco — Investor Presentation (May 2025)
37 slides from Wesbanco's investor presentation, May 15, 2025
Slide 1: Q2 2025 Investor Presentation
Q2 2025 Investor Presentation (WSBC financials as of the three months ended March 31, 2025) John Iannone Senior Vice President, Investor Relations 304-905-7021
Slide 2: Forward-looking statements
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 Act of 1995. The information contained in this report should
Slide 3: Strong and diversified market presence across economically diverse geographies
Strong and diversified market presence across economically diverse geographies that supports disciplined organic growth Top 100 U.S. bank, based on total assets Granular core deposit funding base supports robust commercial and consumer business model Differentiated and competitive deposit profile Di
Slide 4: Investment Rationale: Broad and Diversified with Unique Long-Term Advantages
Broad and diversified loan and deposit distribution across contiguous eight state footprint, with complementary loan production office strategy Full suite of commercial and consumer banking capabilities, complemented by a wealth management business with a 100+ year track-record of success managing a
Slide 5: Strategies for Long-Term Success
Strategies for Long-Term Success
Slide 6: Long-Term Growth Strategies
Organic growth-oriented business model Long-Term Growth Strategies Focus on Delivering Positive Operating Leverage Strong Legacy of Credit, Capital, and Risk Management Diversified Loan Portfolio Built upon a Relationship Focused Model Distinct Revenue Capabilities, Led by 100+ Year Wealth Managemen
Slide 7: Diversified loan portfolio built on strong credit quality
Focus on strategic diversification and growth built upon strong credit quality Balance disciplined loan origination with prudent underwriting standards Focus on relationship lending Key offerings include loan swaps, treasury management, foreign exchange, cyber security, and lockbox services Strong r
Slide 8: Wealth management: securities brokerage and trust services
Securities Brokerage $2.4B in account value 11,650+ accounts Securities investment sales Investment advisory services Licensed banker and regional player/coach programs Expansion opportunities in KY, IN, and Mid-Atlantic markets, as well as external business development opportunities Trust & Investm
Slide 9: Treasury Management: new capabilities with growth opportunities
New capabilities with long-term growth opportunities Treasury Management Focus on building comprehensive business customer relationships by providing individualized services to improve cash flow management, increase earning power, and strengthen fraud protection for clients Key Treasury Management s
Slide 10: Digital banking utilization and acquisition
Digital banking utilization ~75% of retail customers utilize online digital banking services ~4.6 million web and mobile logins per month ~340,000 mobile wallet transactions, ~57,000 Zelle® payments, and ~31,000 mobile deposits per month Digital acquisition 40+% of residential mortgage applications
Slide 11: Differentiated and competitive deposit profile
Differentiated and competitive deposit profile Note: quarterly financial data; organic CAGR excludes acquisitions during the last 5 years (please see slide 12); peer bank group includes all U.S. banks with total assets of $20B to $50B from S&P Capital IQ (as of 5/9/2025) and represent simple average
Slide 12: Franchise-Enhancing Expansion
Targeted acquisitions in existing markets and new higher-growth metro areas, as well as a complementary loan production office (“LPO”) strategy Long-term focus on appropriate capital management to enhance shareholder value Strong capital and liquidity, along with strong regulatory compliance process
Slide 13: Delivering Positive Operating Leverage
(1) Track-record of expense control with on-going enhancement efforts Note: financial data as of 12/31; current year data as of 3/31/2025 year-to-date; balance sheet data as of period ends (1) Non-GAAP measure – please see reconciliation in appendix; non-interest expense does not exclude restructuri
Slide 14: Strong legacy of credit and risk management and regulatory compliance
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 enterprise risk management program headed by Chief Risk Officer addressing key risks in a
Slide 15: Commitment to Sustainability
Ensuring a strong financial institution for all of our stakeholders Note: data as of 12/31/2024 except Board diversity (as of 4/16/2025) and financial center reduction (as of 1/31/2025) and compared to 12/31/2019); “CRA” is Community Reinvestment Act; “key senior executive leadership” defined as the
Slide 16: Awards and recognition
WesBanco was one of just 300 public companies being named to Forbes’ inaugural list of the Most Trusted Companies in America Newsweek again named WesBanco Bank one of America’s Best Regional Banks, based on soundness, profitability, and positively impacting their communities Newsweek named WesBanco
Slide 17: WesBanco Financial Overview
Ww . . . WesBanco Financial Overview ©2025 WesBanco, Inc. | All rights reservec d
Slide 18: Q1 2025 highlights: Premier Financial acquisition closed
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 19: 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 20: Q1 2025 Total Portfolio Loans
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 21: Q1 2025 Total Deposits
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 22: 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 23: 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 24: 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 25: Comparable operating measures to peer bank group
Comparable operating measures to peer bank group Note: historical data as of 12/31 YTD; current data as of 3/31/2025 YTD; peer bank group includes all U.S. banks with total assets of $20B to $50B from S&P Capital IQ (as of 5/9/2025 and represent simple averages; NIM (fully taxable-equivalent (FTE) a
Slide 26: 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 from S&P Capital IQ (as of 5/9/2025) and represent simple averages except criticized & classified loan
Slide 27: Returning value to shareholders
Returning value to shareholders Note: dividend through November 2024 declaration announcement; WSBC dividend yield based upon 5/8/2025 closing stock price of $31.08; peer bank group includes all U.S. banks with total assets of $20B to $50B (as of most recent period) from S&P Capital IQ (as of 5/9/20
Slide 28: WesBanco Appendix
Ww ; WesBanco Appendix ©2025 WesBanco, Inc. | All rights reservec d
Slide 29: Q1 2025 Financial and Operational Highlights: 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 30: 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 31: Non-Interest Expense to Total Assets and Efficiency Ratio Reconciliation
Non-Interest Expense to Total Assets and Efficiency Ratio Reconciliation Note: “non-interest expense to total assets” are annualized by utilizing the actual numbers of days in the quarter versus the year; “efficiency ratio” is non-interest expense excluding restructuring and merger-related expense d
Slide 32: Pre-Tax, Pre-Provision Income (PTPP) and Ratios Reconciliation
Pre-Tax, Pre-Provision Income (PTPP) and Ratios Reconciliation
Slide 33: Net Income and Diluted Earnings per Share (EPS) Reconciliation
Net Income and Diluted Earnings per Share (EPS) Reconciliation
Slide 34: Tangible Book Value per Share Reconciliation
Tangible Book Value per Share Reconciliation
Slide 35: Return on Average Assets Reconciliation
Return on Average Assets (1) Ratios are annualized by utilizing the actual numbers of days in the quarter versus the year Note: Current Expected Credit Losses (“CECL”) accounting standard adopted January 1, 2020 by WSBC; Old Line Bancshares merger closed November 2019 Reconciliation
Slide 36: Return on Average Tangible Equity Reconciliation
Return on Average Tangible Equity Reconciliation (1) Amortization of intangibles tax effected at 21% for all prior periods (2) Ratios are annualized by utilizing the actual numbers of days in the quarter versus the year Note: Current Expected Credit Losses (“CECL”) accounting standard adopted Januar
Slide 37: Return on Average Tangible Common Equity Reconciliation
Return on Average Tangible Common Equity Reconciliation (1) Amortization of intangibles tax effected at 21% for all prior periods (2) Ratios are annualized by utilizing the actual numbers of days in the quarter versus the year Note: Current Expected Credit Losses (“CECL”) accounting standard adopted