WesBanco Announces Third Quarter 2026 Financial Results

WesBanco Announces Third Quarter 2026 Financial Results Marked by strong annualized loan growth, solid efficiency ratio, and accelerating growth in targeted expansion markets

WHEELING, W.Va., Oct. 21, 2026 /PRNewswire/ -- WesBanco, Inc. ("WesBanco" or "Company") (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three and nine months ended September 30, 2026. Net income available to common shareholders for the third quarter of 2026 was $85.3 million, or diluted earnings per share of $0.88, compared to $81.0 million, or diluted earnings per share of $0.84, respectively, for the third quarter of 2025. For the nine months ended September 30, 2026, net income was $258.1 million, or diluted earnings per share of $2.67, compared to $124.4 million, or diluted earnings per share of $1.39, for the comparable 2025 period.

As noted below, WesBanco reported adjusted diluted earnings per share of $0.89, in the third quarter, as compared to adjusted diluted earnings per share of $0.94 in the prior year period, when excluding after-tax restructuring and merger-related expenses (non-GAAP). On a similar basis and excluding the after-tax day one provision for credit losses on acquired loans, WesBanco reported adjusted diluted earnings per share of $2.72, for the nine-month period, as compared to adjusted diluted earnings per share of $2.55 for the comparable 2025 period (non-GAAP).

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2026

2025

2026

2025

(unaudited, dollars in thousands,

except per share amounts)

Net

Income

Diluted

Earnings

Per Share

Net

Income

Diluted

Earnings

Per Share

Net

Income

Diluted

Earnings

Per Share

Net

Income

Diluted

Earnings

Per Share

Net income available to common shareholders (GAAP)

85,265

0.88

81,042

0.84

258,096

2.67

124,401

1.39

Add: After-tax restructuring and merger-related expenses

577

0.01

8,993

0.10

4,302

0.05

57,235

0.63

Add: After-tax day one provision for credit losses on acquired loans

46,926

0.53

Adjusted net income available to common shareholders (non-GAAP) (1)

85,842

0.89

90,035

0.94

262,398

2.72

228,562

2.55

(1) See non-GAAP financial measures for additional information relating to the calculation of these items.

Financial and operational highlights for the quarter ended September 30, 2026:

"Our third quarter results reflect the continued strength of WesBanco's disciplined growth strategy and relationship-focused banking model," said Jeff Jackson, President and Chief Executive Officer. "Year-to-date adjusted diluted earnings per share increased nearly 7%, while we maintained solid positive operating leverage and generated strong organic loan growth that more than offset elevated commercial real estate payoffs. With strong momentum across our franchise and a robust commercial pipeline, we believe we are well positioned to build on that performance in the quarters ahead."

Balance Sheet

WesBanco's balance sheet, as of September 30, 2026, reflects organic growth and the impact of elevated CRE payoffs. Total assets increased 3.4% year-over-year to $28.5 billion, including total portfolio loans of $19.9 billion and total securities of $4.5 billion. Total portfolio loans increased 5.1% year-over-year due to organic growth of nearly $1 billion partially offset by higher CRE payoffs. CRE payoffs continued to remain at high levels, as expected, and totaled approximately $370 million during the third quarter of 2026, and nearly $1.5 billion through the last twelve months. The commercial loan pipeline has grown more than 50% since year-end to $1.8 billion, as of September 30, 2026.

Deposits of $21.6 billion increased 1.5% year-over-year due to organic growth that more than offset the decline in higher cost certificates of deposit (CDs). Excluding CDs, total deposits increased $752 million, or 4.1%, year-over-year and 2.2% annualized sequentially. Total demand deposits represented 50% of total deposits, with the non-interest bearing component representing 24% of total deposits.

Credit Quality

The third quarter net provision for credit losses of $8.7 million was primarily due to higher loan balances and the charge-off of one commercial credit that was previously fully reserved. Excluded from the allowance for credit losses and the related coverage ratio is the remaining unaccreted discount on purchased loans from acquisitions representing 1.31% of total portfolio loans. Criticized and classified loans, which include non-performing portfolio loans, decreased $93 million, or 55 basis points, from the sequential quarter to 3.19% of total portfolio loans. Non-performing assets, which included a $19.2 million loan held for sale, represented 0.62% of total assets, an increase of 9 basis points sequentially due to two commercial credits in different industries and markets and residential 1-4 family mortgages being moved to non-accrual. The allowance for credit losses to total portfolio loans at September 30, 2026 was 1.08% of total loans, or $214.6 million.

Net Interest Income and Margin

Net interest income for the third quarter of 2026 was $226.9 million, an increase of $10.2 million, or 4.7% year-over-year, driven by loan growth, upward loan repricing, and higher securities yields. For the nine months ended September 30, 2026, net interest income of $664.4 million increased $72.4 million, or 12.2%, primarily due to the reasons discussed for the three-month period comparison.

The third quarter net interest margin of 3.60% improved 7 basis points year-over-year primarily due to lower funding costs and was flat to the second quarter, when excluding the additional 3 basis points of accelerated accretion from an early payoff during the second quarter. Deposit funding costs of 239 basis points for the third quarter of 2026 decreased 17 basis points from the prior year period and were up 4 basis points from the second quarter. When including non-interest bearing deposits, deposit funding costs for the third quarter were 180 basis points.

Non-Interest Income

For the third quarter of 2026, non-interest income of $45.9 million increased $1.0 million, or 2.2%, from the third quarter of 2025 due primarily to higher net swap and valuation income, service charges on deposits, and trust fees. Gross swap fees were $2.8 million in the third quarter, compared to $3.2 million in the prior year period, while the fair value adjustment was $2.1 million, compared to a negligible gain in the prior year period. Service charges on deposits increased $1.1 million year-over-year due to an increase in monthly fees that took effect during June 2026, as well as increased general spending and higher transaction volumes. Trust fees of $9.7 million, increased $0.7 million year-over-year, due to higher assets under management. Mortgage banking income decreased $1.8 million from the prior year period due to more mortgage volume retained in the loan portfolio.

Primarily reflecting the items discussed above, as well as net securities brokerage revenue and other income, non-interest income, for the nine months ended September 30, 2026, increased $17.8 million, or 14.4%, year-over-year to $141.3 million. Reflecting strong asset levels, net securities brokerage revenue increased $1.4 million, due to the addition of PFC wealth clients, market value appreciation, and organic growth. Other income included a non-recurring $4.8 million retirement plan gain.

Non-Interest Expense

Non-interest expense, excluding restructuring and merger-related costs, for the three months ended September 30, 2026 was $150.1 million, a $5.3 million, or 3.7%, increase year-over-year primarily due to higher salaries and wages offset by discretionary expense management. Salaries and wages of $69.1 million increased due to hiring efforts in Florida and Nashville during the second quarter, and mid-year merit increases. Marketing expense increased $2.0 million in support of our new expansion markets. FDIC insurance expense of $4.6 million decreased due to a lower assessment rate associated with our improved financial ratios. Amortization of intangible assets of $7.1 million, which was consistent with the last two quarters, decreased $1.3 million year-over-year due to the core deposit intangible asset that was created from the acquisition of PFC in the prior year. Employee benefits decreased $3.2 million year-over-year to $14.9 million due primarily to lower healthcare claims and lower deferred compensation expense. Restructuring and merger-related expenses decreased $10.7 million from the prior year period, which included costs associated with the closing of the PFC acquisition.

Excluding restructuring and merger-related expenses, non-interest expense during the first nine months of 2026 of $441.2 million increased $37.0 million, or 9.1%, compared to the comparable prior year period, due primarily to the expenses described above, as well as our acquisition of Premier Financial only being in the prior year period beginning March 1, 2025.

Capital

WesBanco continues to maintain what we believe are strong regulatory capital ratios, as both consolidated and bank-level regulatory capital ratios are well above the applicable "well-capitalized" standards promulgated by bank regulators and the BASEL III capital standards. At September 30, 2026, Tier I leverage was 9.87%, Tier I risk-based capital ratio was 11.60%, common equity Tier 1 capital ratio ("CET 1") was 10.61%, and total risk-based capital was 13.97%. In addition, the tangible common equity to tangible assets ratio was 8.15%.

Conference Call and Webcast

WesBanco will host a conference call to discuss the Company's financial results for the third quarter of 2026 at 3:00 p.m. ET on Thursday, October 22, 2026. Interested parties can access the live webcast of the conference call through the Investor Relations section of the Company's website, www.wesbanco.com. Participants can also listen to the conference call by dialing 888-347-6607, or 1-412-902-4290 for international callers, and asking to be joined into the WesBanco call. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection.

A replay of the conference call will be available by dialing 855-669-9658, or 1-412-317-0088 for international callers, and providing the access code of 9592854. Access to the replay will begin at approximately 5:00 p.m. ET on October 22, 2026, and end at 12 a.m. ET on November 5, 2026. An archive of the webcast will be available for one year on the Investor Relations section of the Company's website ( www.wesbanco.com).

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 be read in conjunction with WesBanco's Form 10-K for the year ended December 31, 2025 and documents subsequently filed by WesBanco with the Securities and Exchange Commission ("SEC") including WesBanco's Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026, which are available at the SEC's website, www.sec.gov or at WesBanco's website, www.WesBanco.com. Investors are cautioned that forward-looking statements, which are not historical fact, involve risks and uncertainties, including those detailed in WesBanco's most recent Annual Report on Form 10-K under "Risk Factors" in Part I, Item 1A and in our other reports filed with the SEC. Such statements are subject to important factors that could cause actual results to differ materially from those contemplated by such statements, including, without limitation, changes in interest rates, spreads on earning assets and interest-bearing liabilities, and associated interest rate sensitivity; sources of liquidity available to WesBanco and its related subsidiary operations; potential future credit losses and the credit risk of commercial, real estate, and consumer loan customers and their borrowing activities; actions of the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, the SEC, the Financial Institution Regulatory Authority, the Municipal Securities Rulemaking Board, the Securities Investors Protection Corporation, and other regulatory bodies; potential legislative and federal and state regulatory actions and reform, including, without limitation, the impact of the implementation of the Dodd-Frank Act; adverse decisions of federal and state courts; fraud, scams and schemes of third parties; cyber-security breaches; competitive conditions in the financial services industry; rapidly changing technology affecting financial services; marketability of debt instruments and corresponding impact on fair value adjustments; and/or other external developments materially impacting WesBanco's operational and financial performance. WesBanco does not assume any duty to update forward-looking statements.

While forward-looking statements reflect our good-faith beliefs, they are not guarantees of future performance. All forward-looking statements are necessarily only estimates of future results. Accordingly, actual results may differ materially from those expressed in or contemplated by the particular forward-looking statement, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

Non-GAAP Financial Measures

In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), WesBanco's management uses, and this presentation contains or references, certain non-GAAP financial measures. WesBanco believes these financial measures provide information useful to investors in understanding our operational performance and business and performance trends which facilitate comparisons with the performance of others in the financial services industry. Although WesBanco believes that these non-GAAP financial measures enhance investors' understanding of WesBanco's business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. The non-GAAP financial measures contained therein should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the Quarterly Reports on Forms 10-Q for WesBanco and its subsidiaries, as well as other filings that the company has made with the SEC. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables at the end of this release.

About WesBanco, Inc.

With over 150 years as a community-focused, regional financial services partner, WesBanco Inc. (Nasdaq: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our ten-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in Wheeling, West Virginia, WesBanco has $28.5 billion in total assets, with our Trust and Investment Services holding $8.1 billion of assets under management and securities account values (including annuities) of $2.5 billion through our broker/dealer, as of September 30, 2026. Learn more at www.wesbanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram.

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands, except shares and per share amounts)

For the Three Months Ended

For the Nine Months Ended

Statement of Income

September 30,

2026

2025

% Change

2026

2025

% Change

Interest and dividend income

Loans, including fees

$ 298,089

$ 295,482

0.9

$ 866,993

$ 803,994

7.8

Taxable securities

33,223

31,483

5.5

96,749

84,797

14.1

Tax-exempt securities

4,841

4,692

3.2

14,498

13,837

4.8

Other interest income

8,395

11,229

(25.2)

24,982

29,872

(16.4)

Total interest and dividend income

344,548

342,886

0.5

1,003,222

932,500

7.6

Interest expense

Interest bearing demand deposits

31,134

31,351

(0.7)

91,070

91,132

(0.1)

Money market deposits

35,873

38,249

(6.2)

101,676

95,672

6.3

Savings deposits

11,350

9,577

18.5

32,497

25,606

26.9

Certificates of deposit

19,683

23,554

(16.4)

62,863

63,553

(1.1)

Total interest expense on deposits

98,040

102,731

(4.6)

288,106

275,963

4.4

Federal Home Loan Bank borrowings

15,103

17,337

(12.9)

36,808

47,056

(21.8)

Other short-term borrowings

555

766

(27.5)

1,719

2,703

(36.4)

Subordinated debt and junior subordinated debt

3,973

5,336

(25.5)

12,150

14,774

(17.8)

Total interest expense

117,671

126,170

(6.7)

338,783

340,496

(0.5)

Net interest income

226,877

216,716

4.7

664,439

592,004

12.2

Provision for credit losses

8,661

2,082

316.0

16,949

74,183

(77.2)

Net interest income after provision for credit losses

218,216

214,634

1.7

647,490

517,821

25.0

Non-interest income

Trust fees

9,666

8,987

7.6

29,938

27,342

9.5

Service charges on deposits

12,263

11,163

9.9

34,769

30,233

15.0

Digital banking income

7,476

7,324

2.1

21,485

20,053

7.1

Net swap fee and valuation income

4,857

3,231

50.3

9,054

4,937

83.4

Net securities brokerage revenue

3,267

2,961

10.3

10,408

9,010

15.5

Bank-owned life insurance

4,311

3,765

14.5

12,439

10,643

16.9

Mortgage banking income

123

1,898

(93.5)

2,096

5,402

(61.2)

Net securities gains / (losses)

(151)

1,210

(112.5)

1,480

2,302

(35.7)

Net gains on other real estate owned and other assets

194

329

(41.0)

2,776

400

594.0

Other income

3,860

3,996

(3.4)

16,883

13,164

28.3

Total non-interest income

45,866

44,864

2.2

141,328

123,486

14.4

Non-interest expense

Salaries and wages

69,079

60,583

14.0

199,444

169,314

17.8

Employee benefits

14,853

18,040

(17.7)

51,613

49,867

3.5

Net occupancy

7,927

8,819

(10.1)

24,320

24,716

(1.6)

Equipment and software

15,613

16,310

(4.3)

46,930

46,500

0.9

Marketing

4,965

2,979

66.7

8,763

7,225

21.3

FDIC insurance

4,631

5,820

(20.4)

13,582

15,487

(12.3)

Amortization of intangible assets

7,122

8,425

(15.5)

21,423

21,853

(2.0)

Restructuring and merger-related expense

730

11,383

(93.6)

5,446

72,449

(92.5)

Other operating expenses

25,947

23,829

8.9

75,135

69,278

8.5

Total non-interest expense

150,867

156,188

(3.4)

446,656

476,689

(6.3)

Income before provision for income taxes

113,215

103,310

9.6

342,162

164,618

107.9

Provision for income taxes

23,710

19,737

20.1

71,345

32,623

118.7

Net Income

89,505

83,573

7.1

270,817

131,995

105.2

Preferred stock dividends

4,240

2,531

67.5

12,721

7,594

67.5

Net income available to common shareholders

$ 85,265

$ 81,042

5.2

$ 258,096

$ 124,401

107.5

Taxable equivalent net interest income (1)

$ 228,164

$ 217,963

4.7

$ 668,293

$ 595,682

12.2

Per common share data

Earnings per common share - basic

$ 0.89

$ 0.84

6.0

$ 2.69

$ 1.39

93.5

Earnings per common share - diluted

0.88

0.84

4.8

2.67

1.39

92.1

Earnings per common share - diluted, adjusted (1) (2)

0.89

0.94

(5.3)

2.72

2.55

6.7

Dividends declared

0.38

0.37

2.7

1.14

1.11

2.7

Book value (period end)

40.20

39.02

3.0

40.20

39.02

3.0

Tangible book value (period end) (1)

22.73

21.29

6.8

22.73

21.29

6.8

Tangible book value, excluding AOCI (period end) (1)

25.19

22.84

10.3

25.19

22.84

10.3

Average common shares outstanding - basic

95,950,360

95,995,174

(0.0)

96,027,044

89,593,739

7.2

Average common shares outstanding - diluted

96,632,946

96,116,617

0.5

96,548,165

89,718,706

7.6

Period end common shares outstanding

95,984,127

96,044,222

(0.1)

95,984,127

96,044,222

(0.1)

Period end preferred shares outstanding

230,000

380,000

(39.5)

230,000

380,000

(39.5)

(1) See non-GAAP financial measures for additional information relating to the calculation of this item.

(2) Certain items excluded from the calculation consist of after-tax restructuring and merger-related expenses and the after-tax day one provision for credit losses on acquired loans.

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands, unless otherwise noted)

Selected ratios

For the Nine Months Ended

September 30,

2026

2025

% Change

Return on average assets

1.25

0.65

92.31

Return on average assets, excluding certain items (1) (2)

1.27

1.20

5.83

Return on average equity

8.39

4.59

82.79

Return on average equity, excluding certain items (1) (2)

8.53

8.43

1.19

Return on average tangible equity (1)

15.13

9.10

66.26

Return on average tangible equity, excluding certain items (1) (2)

15.37

15.79

(2.66)

Return on average tangible common equity (1)

16.67

9.84

69.41

Return on average tangible common equity, excluding certain items (1) (2)

16.93

17.07

(0.82)

Yield on earning assets (3)

5.42

5.50

(1.45)

Cost of interest bearing liabilities

2.52

2.75

(8.36)

Net interest spread (3)

2.90

2.75

5.45

Net interest margin (3)

3.60

3.50

2.86

Efficiency (1) (2) (3)

51.94

53.34

(2.62)

Average loans to average deposits

89.58

89.42

0.18

Annualized net loan charge-offs/average loans

0.13

0.12

8.33

Effective income tax rate

20.85

19.82

5.20

For the Three Months Ended

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

2026

2025

Return on average assets

1.21

1.29

1.24

1.13

1.17

Return on average assets, excluding certain items (1) (2)

1.22

1.30

1.29

1.17

1.30

Return on average equity

8.16

8.63

8.38

7.58

8.25

Return on average equity, excluding certain items (1) (2)

8.21

8.71

8.67

7.85

9.16

Return on average tangible equity (1)

14.62

15.56

15.25

13.93

15.86

Return on average tangible equity, excluding certain items (1) (2)

14.71

15.69

15.74

14.39

17.48

Return on average tangible common equity (1)

16.08

17.14

16.82

15.87

17.26

Return on average tangible common equity, excluding certain items (1) (2)

16.18

17.28

17.37

16.39

19.03

Yield on earning assets (3)

5.45

5.44

5.38

5.51

5.58

Cost of interest bearing liabilities

2.57

2.50

2.62

2.79

Net interest spread (3)

2.88

2.94

2.88

2.79

Net interest margin (3)

3.60

3.63

3.57

3.61

3.53

Efficiency (1) (2) (3)

52.16

51.17

52.54

51.62

52.20

Average loans to average deposits

90.80

88.89

89.05

88.78

89.41

Annualized net loan charge-offs and recoveries /average loans

0.21

0.02

0.16

0.06

0.19

Effective income tax rate

20.94

21.14

20.45

20.51

19.10

Trust and Investment Services assets under management (4)

$ 8,077

$ 8,227

$ 7,810

$ 7,886

$ 7,688

Broker-dealer securities account values (including annuities) (4)

$ 2,461

$ 2,704

$ 2,574

$ 2,481

$ 2,588

(1) See non-GAAP financial measures for additional information relating to the calculation of this item.

(2) Certain items excluded from the calculation can consist of after-tax restructuring and merger-related expenses and the after-tax day one provision for credit losses on acquired loans.

(3) The yield on earning assets, net interest margin, net interest spread and efficiency ratios are presented on a fully taxable-equivalent (FTE) and annualized basis. The FTE basis adjusts for the tax benefit of income on certain tax-exempt loans and investments. WesBanco believes this measure to be the preferred industry measurement of net interest income and provides a relevant comparison between taxable and non-taxable amounts.

(4) Represents market value at period end, in millions.

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands)

% Change

Balance sheet

September 30,

December 31,

Sept. 30, 2026

Assets

2026

2025

% Change

2025

to Dec. 31, 2025

Cash and due from banks

$ 212,469

$ 231,814

(8.3)

$ 204,860

3.7

Due from banks - interest bearing

766,391

776,423

(1.3)

751,249

2.0

Securities:

Equity securities

18,303

30,374

(39.7)

30,809

(40.6)

Available-for-sale debt securities

3,353,692

3,268,016

2.6

3,288,332

2.0

Held-to-maturity debt securities

1,093,970

1,150,339

(4.9)

1,131,946

(3.4)

Total securities

4,465,965

4,448,729

0.4

4,451,087

0.3

Loans held for sale (1)

56,707

125,971

(55.0)

87,454

(35.2)

Portfolio loans:

Commercial real estate

11,319,515

10,755,370

5.2

10,938,834

3.5

Commercial and industrial

3,067,867

2,771,906

10.7

2,863,893

7.1

Residential real estate

3,998,944

3,928,469

1.8

3,938,585

1.5

Home equity

1,240,811

1,091,636

13.7

1,129,394

9.9

Consumer

273,414

384,693

(28.9)

355,726

(23.1)

Total portfolio loans, net of unearned income

19,900,551

18,932,074

5.1

19,226,432

3.5

Allowance for credit losses - loans

(214,558)

(217,666)

1.4

(218,749)

1.9

Net portfolio loans

19,685,993

18,714,408

5.2

19,007,683

3.6

Premises and equipment, net

257,389

267,521

(3.8)

263,240

(2.2)

Accrued interest receivable

106,182

108,865

(2.5)

106,651

(0.4)

Goodwill and other intangible assets, net

1,701,962

1,736,073

(2.0)

1,723,385

(1.2)

Bank-owned life insurance

565,096

555,104

1.8

557,512

1.4

Other assets

647,905

553,134

17.1

543,212

19.3

Total Assets

$ 28,466,059

$ 27,518,042

3.4

$ 27,696,333

2.8

Liabilities

Deposits:

Non-interest bearing demand

$ 5,235,283

$ 5,285,740

(1.0)

$ 5,376,767

(2.6)

Interest bearing demand

5,463,872

5,025,216

8.7

5,186,880

5.3

Money market

5,143,236

4,901,863

4.9

5,072,039

1.4

Savings deposits

3,263,193

3,141,075

3.9

3,157,782

3.3

Certificates of deposit

2,506,919

2,930,368

(14.5)

2,875,372

(12.8)

Total deposits

21,612,503

21,284,262

1.5

21,668,840

(0.3)

Federal Home Loan Bank borrowings

1,950,000

1,275,000

52.9

1,200,000

62.5

Other short-term borrowings

113,800

113,501

0.3

110,679

2.8

Subordinated debt and junior subordinated debt

308,991

358,373

(13.8)

308,529

0.1

Total borrowings

2,372,791

1,746,874

35.8

1,619,208

46.5

Accrued interest payable

21,363

25,472

(16.1)

19,150

11.6

Other liabilities

376,278

344,907

9.1

357,222

5.3

Total Liabilities

24,382,935

23,401,515

4.2

23,664,420

3.0

Shareholders' Equity

Preferred stock

224,187

368,867

(39.2)

224,187

Common stock

200,396

200,088

0.2

200,137

0.1

Capital surplus

2,502,142

2,487,564

0.6

2,490,440

0.5

Retained earnings

1,401,585

1,210,823

15.8

1,252,765

11.9

Treasury stock

(7,119)

(100.0)

Accumulated other comprehensive loss

(235,699)

(148,669)

(58.5)

(133,320)

(76.8)

Deferred benefits for directors

(2,368)

(2,146)

(10.3)

(2,296)

(3.1)

Total Shareholders' Equity

4,083,124

$ 4,116,527

(0.8)

4,031,913

1.3

Total Liabilities and Shareholders' Equity

$ 28,466,059

$ 27,518,042

3.4

$ 27,696,333

2.8

(1) Includes $37,544, $87,454 and $125,971 measured at fair value as of September 30, 2026, December 2025, and September 30, 2025, respectively

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands)

Balance sheet

September 30,

June 30,

Assets

2026

% Change

Cash and due from banks

$ 212,469

$ 226,961

(6.4)

Due from banks - interest bearing

766,391

644,813

18.9

Securities:

Equity securities

18,303

19,060

(4.0)

Available-for-sale debt securities

3,353,692

3,312,972

1.2

Held-to-maturity debt securities

1,093,970

1,107,586

(1.2)

Total securities

4,465,965

4,439,618

0.6

Loans held for sale (1)

56,707

57,318

(1.1)

Portfolio loans:

Commercial real estate

11,319,515

11,093,370

2.0

Commercial and industrial

3,067,867

2,949,863

4.0

Residential real estate

3,998,944

3,939,813

1.5

Home equity

1,240,811

1,191,809

4.1

Consumer

273,414

304,111

(10.1)

Total portfolio loans, net of unearned income

19,900,551

19,478,966

2.2

Allowance for credit losses - loans

(214,558)

(217,775)

1.5

Net portfolio loans

19,685,993

19,261,191

2.2

Premises and equipment, net

257,389

248,200

3.7

Accrued interest receivable

106,182

102,342

3.8

Goodwill and other intangible assets, net

1,701,962

1,709,084

(0.4)

Bank-owned life insurance

565,096

562,297

0.5

Other assets

647,905

545,093

18.9

Total Assets

$ 28,466,059

$ 27,796,917

2.4

Liabilities

Deposits:

Non-interest bearing demand

$ 5,235,283

$ 5,287,995

(1.0)

Interest bearing demand

5,463,872

5,364,937

1.8

Money market

5,143,236

5,012,414

2.6

Savings deposits

3,263,193

3,335,823

(2.2)

Certificates of deposit

2,506,919

2,591,047

(3.2)

Total deposits

21,612,503

21,592,216

0.1

Federal Home Loan Bank borrowings

1,950,000

1,350,000

44.4

Other short-term borrowings

113,800

88,419

28.7

Subordinated debt and junior subordinated debt

308,991

308,837

0.0

Total borrowings

2,372,791

1,747,256

35.8

Accrued interest payable

21,363

17,567

21.6

Other liabilities

376,278

330,193

14.0

Total Liabilities

24,382,935

23,687,232

2.9

Shareholders' Equity

Preferred stock

224,187

Common stock

200,396

Capital surplus

2,502,142

2,498,629

0.1

Retained earnings

1,401,585

1,352,870

3.6

Treasury stock

(7,119)

(10,924)

34.8

Accumulated other comprehensive loss

(235,699)

(153,157)

(53.9)

Deferred benefits for directors

(2,368)

(2,316)

(2.2)

Total Shareholders' Equity

4,083,124

4,109,685

(0.6)

Total Liabilities and Shareholders' Equity

$ 28,466,059

$ 27,796,917

2.4

(1) Includes $37,544 and $57,318 measured at fair value as of September 30, 2026 and June 30, 2026, respectively.

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands)

Average balance sheet and net interest margin analysis

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2026

2025

2026

2025

Average

Assets

Balance

Rate

Balance

Rate

Balance

Rate

Balance

Rate

Due from banks - interest bearing

$ 728,418

3.88

$ 761,410

4.90

$ 730,187

3.89

$ 704,757

4.81

Loans, net of unearned income (1)

19,660,778

6.02

18,990,507

6.17

19,365,019

5.99

17,553,879

6.12

Securities: (2)

Taxable

3,966,151

3.32

3,901,533

3.20

3,930,752

3.29

3,679,815

3.08

Tax-exempt (3)

728,816

3.34

733,493

3.21

733,927

3.34

732,823

3.20

Total securities

4,694,967

3.33

4,635,026

3.20

4,664,679

3.30

4,412,638

3.10

Other earning assets

76,405

6.61

77,308

9.40

65,328

7.61

75,338

8.04

Total earning assets (3)

25,160,568

5.45

24,464,251

5.58

24,825,213

5.42

22,746,612

5.50

Other assets

2,859,632

2,955,475

2,864,984

2,710,747

Total Assets

$ 28,020,200

$ 27,419,726

$ 27,690,197

$ 25,457,359

Liabilities and Shareholders' Equity

Interest bearing demand deposits

$ 5,392,171

2.29

$ 4,963,468

2.51

$ 5,384,182

2.26

$ 4,676,955

2.61

Money market accounts

5,064,659

2.81

4,905,387

3.09

4,968,163

2.74

4,322,300

2.96

Savings deposits

3,300,368

1.36

3,152,927

1.21

3,285,784

1.32

2,962,302

1.16

Certificates of deposit

2,549,878

3.06

2,928,961

3.19

2,678,958

3.14

2,694,587

3.15

Total interest bearing deposits

16,307,076

2.39

15,950,743

2.56

16,317,087

2.36

14,656,144

2.52

Federal Home Loan Bank borrowings

1,482,609

4.04

1,500,272

4.58

1,227,473

4.01

1,419,571

4.43

Repurchase agreements

99,661

2.21

110,452

2.75

102,923

2.23

130,592

2.77

Subordinated debt and junior subordinated debt

308,892

5.10

358,007

5.91

308,740

5.26

340,425

5.80

Total interest bearing liabilities (4)

18,198,238

2.57

17,919,474

2.79

17,956,223

2.52

16,546,732

2.75

Non-interest bearing demand deposits

5,346,922

5,289,568

5,299,436

4,975,638

Other liabilities

328,731

312,542

319,717

309,656

Shareholders' equity

4,146,309

3,898,142

4,114,821

3,625,333

Total Liabilities and Shareholders' Equity

$ 28,020,200

$ 27,419,726

$ 27,690,197

$ 25,457,359

Taxable equivalent net interest spread

2.88

2.79

2.90

2.75

Taxable equivalent net interest margin

3.60

3.53

3.60

3.50

(1) Gross of allowance for credit losses, net of unearned income and includes non-accrual loans and loans held for sale. Loan fees included in interest income on loans were $1.9 million and $1.4 million for the three months ended September 30, 2026 and 2025, respectively, and were $5.8 million and $5.5 million for the nine months ended September 30, 2026 and 2025, respectively. Additionally, loan accretion included in interest income on loans acquired from prior acquisitions was $13.4 million and $16.0 million for the three months ended September 30, 2026 and 2025, respectively, and was $41.4 million and $39.3 million for the nine months ended September 30, 2026 and 2025, respectively.

(2) Average yields on available-for-sale securities are calculated based on amortized cost.

(3) Taxable equivalent basis is calculated on tax-exempt securities using a rate of 21% for each period presented.

(4) Accretion on interest bearing liabilities acquired from prior acquisitions was $0.1 million and $1.7 million for the three months ended September 30, 2026 and 2025, respectively, and was $0.5 million and $9.6 million for the nine months ended September 30, 2026 and 2025, respectively.

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands, except shares and per share amounts)

Quarter Ended

Statement of Income

Sept. 30,

June 30,

March 31,

Dec. 31,

Sept. 30,

2026

2025

Interest and dividend income

Loans, including fees

$ 298,089

$ 287,916

$ 280,989

$ 293,208

$ 295,482

Taxable securities

33,223

32,083

31,443

31,546

31,483

Tax-exempt securities

4,841

4,833

4,824

4,865

4,692

Other interest income

8,395

8,219

8,368

9,821

11,229

Total interest and dividend income

344,548

333,051

325,624

339,440

342,886

Interest expense

Interest bearing demand deposits

31,134

30,567

29,368

29,821

31,351

Money market deposits

35,873

33,650

32,151

36,166

38,249

Savings deposits

11,350

11,029

10,119

9,570

9,577

Certificates of deposit

19,683

20,590

22,591

24,235

23,554

Total interest expense on deposits

98,040

95,836

94,229

99,792

102,731

Federal Home Loan Bank borrowings

15,103

10,390

11,316

11,378

17,337

Other short-term borrowings

555

565

598

730

766

Subordinated debt and junior subordinated debt

3,973

4,098

4,080

5,243

5,336

Total interest expense

117,671

110,889

110,223

117,143

126,170

Net interest income

226,877

222,162

215,401

222,297

216,716

Provision for credit losses

8,661

9,185

(897)

3,059

2,082

Net interest income after provision for credit losses

218,216

212,977

216,298

219,238

214,634

Non-interest income

Trust fees

9,666

9,830

10,442

9,745

8,987

Service charges on deposits

12,263

11,546

10,961

11,159

11,163

Digital banking income

7,476

7,410

6,599

6,422

7,324

Net swap fee and valuation income

4,857

3,135

1,062

3,959

3,231

Net securities brokerage revenue

3,267

3,670

3,472

2,836

2,961

Bank-owned life insurance

4,311

4,317

3,811

4,458

3,765

Mortgage banking income

123

1,055

919

791

1,898

Net securities gains / (losses)

(151)

1,644

(13)

1,077

1,210

Net gains / (losses) on other real estate owned and other assets

194

2,036

546

(824)

329

Other income

3,860

8,989

4,032

3,647

3,996

Total non-interest income

45,866

53,632

41,831

43,270

44,864

Non-interest expense

Salaries and wages

69,079

66,402

63,964

61,664

60,583

Employee benefits

14,853

19,148

17,611

17,148

18,040

Net occupancy

7,927

7,863

8,529

8,522

8,819

Equipment and software

15,613

15,640

15,678

16,110

16,310

Marketing

4,965

2,271

1,526

2,636

2,979

FDIC insurance

4,631

4,168

4,784

5,411

5,820

Amortization of intangible assets

7,122

7,141

7,160

7,217

8,425

Restructuring and merger-related expense

730

1,003

3,713

3,483

11,383

Other operating expenses

25,947

25,450

23,740

25,697

23,829

Total non-interest expense

150,867

149,086

146,705

147,888

156,188

Income before provision for income taxes

113,215

117,523

111,424

114,620

103,310

Provision for income taxes

23,710

24,846

22,789

23,510

19,737

Net Income

89,505

92,677

88,635

91,110

83,573

Preferred stock dividends

4,240

12,948

2,531

Net income available to common shareholders

$ 85,265

$ 88,437

$ 84,395

$ 78,162

$ 81,042

Taxable equivalent net interest income

$ 228,164

$ 223,447

$ 216,683

$ 223,590

$ 217,963

Per common share data

Earnings per common share - basic

$ 0.89

$ 0.92

$ 0.88

$ 0.81

$ 0.84

Earnings per common share - diluted

0.88

0.91

0.88

0.81

0.84

Earnings per common share - diluted, adjusted (1) (2)

0.89

0.92

0.91

0.84

0.94

Dividends declared

0.38

0.37

Book value (period end)

40.20

40.53

40.01

39.64

39.02

Tangible book value (period end) (1)

22.73

22.98

22.45

22.01

21.29

Tangible book value, excluding AOCI (period end) (1)

25.19

24.58

23.98

23.39

22.84

Average common shares outstanding - basic

95,950,360

96,028,958

96,103,497

96,053,336

95,995,174

Average common shares outstanding - diluted

96,632,946

96,703,880

96,309,352

96,226,845

96,116,617

Period end common shares outstanding

95,984,127

95,869,209

96,134,158

96,067,559

96,044,222

Period end preferred shares outstanding

230,000

380,000

Full time equivalent employees

2,998

2,996

2,973

3,030

3,064

(1) See non-GAAP financial measures for additional information relating to the calculation of this item.

(2) Certain items excluded from the calculation consist of after-tax restructuring and merger-related expenses and the after-tax day one provision for credit losses on acquired loans.

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands)

Quarter Ended

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

Asset quality data

2026

2025

Non-performing assets:

Total non-performing portfolio loans

$ 154,970

$ 146,058

$ 145,008

$ 91,584

$ 94,463

Total non-performing loans held for sale

19,162

Other real estate and repossessed assets

1,784

1,391

1,323

907

997

Total non-performing assets

$ 175,916

$ 147,449

$ 146,331

$ 92,491

$ 95,460

Past due loans (1):

Loans past due 30-89 days

$ 88,590

$ 67,388

$ 89,877

$ 91,199

$ 80,333

Loans past due 90 days or more

23,719

21,783

16,210

37,783

19,430

Total past due loans

$ 112,309

$ 89,171

$ 106,087

$ 128,982

$ 99,763

Loans past due 30-89 days / total portfolio loans

0.45

0.35

0.47

0.42

Loans past due 90 days or more / total portfolio loans

0.12

0.11

0.08

0.20

0.10

Non-performing portfolio loans / total portfolio loans

0.78

0.75

0.76

0.48

0.50

Non-performing assets / total portfolio loans, total loans held for sale, other real estate and

repossessed assets

0.88

0.75

0.76

0.48

0.50

Non-performing assets / total assets

0.62

0.53

0.33

0.35

Allowance for credit losses

Allowance for credit losses - loans

$ 214,558

$ 217,775

$ 210,023

$ 218,749

$ 217,666

Allowance for credit losses - loan commitments

9,234

7,740

7,212

6,950

7,628

Provision for credit losses

8,661

9,185

(897)

3,059

2,082

Net loan and deposit account overdraft charge-offs and recoveries

10,382

892

7,584

2,666

8,867

Annualized net loan charge-offs and recoveries / average loans

0.21

0.02

0.16

0.06

0.19

Allowance for credit losses - loans / total portfolio loans

1.08

1.12

1.10

1.14

1.15

Allowance for credit losses - loans / non-performing portfolio loans

1.38

1.49

1.45

2.39

2.30

Allowance for credit losses - loans / non-performing portfolio loans and

loans past due

0.80

0.93

0.84

0.99

1.12

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

2026

2025

Capital ratios

Tier I leverage capital

9.87

9.83

9.63

9.42

9.72

Tier I risk-based capital

11.60

11.72

11.42

11.83

Total risk-based capital

13.97

14.18

14.19

13.92

14.58

Common equity tier 1 capital ratio (CET 1)

10.61

10.70

10.67

10.37

10.10

Average shareholders' equity to average assets

14.80

14.94

14.84

14.88

14.22

Total shareholders' equity to total assets

14.34

14.78

14.81

14.56

14.96

Tangible equity to tangible assets (2)

8.98

9.29

9.24

8.99

9.35

Tangible common equity to tangible assets (2)

8.15

8.44

8.37

8.13

7.92

(1) Excludes non-performing loans.

(2) See non-GAAP financial measures for additional information relating to the calculation of this ratio.

WESBANCO, INC.

Non-GAAP Financial Measures

The following non-GAAP financial measures used by WesBanco provide information useful to investors in understanding WesBanco's operating performance and trends, and facilitate comparisons with the performance of WesBanco's peers. The following tables summarize the non-GAAP financial measures derived from amounts reported in WesBanco's financial statements.

Three Months Ended

Year to Date

(unaudited, dollars in thousands,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

except shares and per share amounts)

2026

2025

2026

2025

Return on average assets, excluding certain items:

Net income available to common shareholders

$ 85,265

$ 88,437

$ 84,395

$ 78,162

$ 81,042

$ 258,096

$ 124,401

Add: after-tax restructuring and merger-related expenses (1)

577

792

2,933

2,752

8,993

4,302

57,235

Add: after-tax day one provision for credit losses on acquired loans (1)

46,926

Net income available to common shareholders, excluding certain items

85,842

89,229

87,328

80,914

90,035

262,398

228,562

Average total assets

$ 28,020,200

$ 27,514,390

$ 27,530,620

$ 27,481,963

$ 27,419,726

$ 27,690,197

$ 25,457,359

Return on average assets, excluding certain items (annualized) (2)

1.22 %

1.30 %

1.29 %

1.17 %

1.30 %

1.27 %

1.20 %

Return on average equity, excluding certain items:

Net income available to common shareholders

$ 85,265

$ 88,437

$ 84,395

$ 78,162

$ 81,042

$ 258,096

$ 124,401

Add: after-tax restructuring and merger-related expenses (1)

577

792

2,933

2,752

8,993

4,302

57,235

Add: after-tax day one provision for credit losses on acquired loans (1)

46,926

Net income available to common shareholders excluding certain items

85,842

89,229

87,328

80,914

90,035

262,398

228,562

Average total shareholders' equity

$ 4,146,309

$ 4,110,881

$ 4,086,617

$ 4,088,456

$ 3,898,142

$ 4,114,821

$ 3,625,333

Return on average equity, excluding certain items (annualized) (2)

8.21 %

8.71 %

8.67 %

7.85 %

9.16 %

8.53 %

8.43 %

Return on average tangible equity:

Net income available to common shareholders

$ 85,265

$ 88,437

$ 84,395

$ 78,162

$ 81,042

$ 258,096

$ 124,401

Add: amortization of intangibles (1)

5,626

5,641

5,656

5,701

6,656

16,924

17,264

Net income available to common shareholders before amortization of intangibles

90,891

94,078

90,051

83,863

87,698

275,020

141,665

Average total shareholders' equity

4,146,309

4,110,881

4,086,617

4,088,456

3,898,142

4,114,821

3,625,333

Less: average goodwill and other intangibles, net of def. tax liability

(1,679,643)

(1,685,204)

(1,691,156)

(1,700,188)

(1,704,105)

(1,685,292)

(1,543,552)

Average tangible equity

$ 2,466,666

$ 2,425,677

$ 2,395,461

$ 2,388,268

$ 2,194,037

$ 2,429,529

$ 2,081,781

Return on average tangible equity (annualized) (2)

14.62 %

15.56 %

15.25 %

13.93 %

15.86 %

15.13 %

9.10 %

Average tangible common equity

$ 2,242,479

$ 2,201,490

$ 2,171,274

$ 2,096,528

$ 2,015,329

$ 2,205,342

$ 1,925,764

Return on average tangible common equity (annualized) (2)

16.08 %

17.14 %

16.82 %

15.87 %

17.26 %

16.67 %

9.84 %

WESBANCO, INC.

Non-GAAP Financial Measures (continued)

Three Months Ended

Year to Date

(unaudited, dollars in thousands,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

except shares and per share amounts)

2026

2025

2026

2025

Return on average tangible equity, excluding certain items:

Net income available to common shareholders

$ 85,265

$ 88,437

$ 84,395

$ 78,162

$ 81,042

$ 258,096

$ 124,401

Add: after-tax restructuring and merger-related expenses (1)

577

792

2,933

2,752

8,993

4,302

57,235

Add: amortization of intangibles (1)

5,626

5,641

5,656

5,701

6,656

16,924

17,264

Add: after-tax day one provision for credit losses on acquired loans (1)

46,926

Net income available to common shareholders before amortization of intangibles and excluding certain items

91,468

94,870

92,984

86,615

96,691

279,322

245,826

Average total shareholders' equity

4,146,309

4,110,881

4,086,617

4,088,456

3,898,142

4,114,821

3,625,333

Less: average goodwill and other intangibles, net of def. tax liability

(1,679,643)

(1,685,204)

(1,691,156)

(1,700,188)

(1,704,105)

(1,685,292)

(1,543,552)

Average tangible equity

$ 2,466,666

$ 2,425,677

$ 2,395,461

$ 2,388,268

$ 2,194,037

$ 2,429,529

$ 2,081,781

Return on average tangible equity, excluding certain items (annualized) (2)

14.71 %

15.69 %

15.74 %

14.39 %

17.48 %

15.37 %

15.79 %

Average tangible common equity

$ 2,242,479

$ 2,201,490

$ 2,171,274

$ 2,096,528

$ 2,015,329

$ 2,205,342

$ 1,925,764

Return on average tangible common equity, excluding certain items (annualized) (2)

16.18 %

17.28 %

17.37 %

16.39 %

19.03 %

16.93 %

17.07 %

Taxable equivalent net interest income:

Net interest income

$ 226,877

$ 222,162

$ 215,401

$ 222,297

$ 216,716

$ 664,439

$ 592,004

Taxable-equivalent adjustments to net interest income (1)

1,287

1,285

1,282

1,293

1,247

3,854

3,678

Taxable equivalent net interest income

$ 228,164

$ 223,447

$ 216,683

$ 223,590

$ 217,963

$ 668,293

$ 595,682

Efficiency ratio:

Non-interest expense

$ 150,867

$ 149,086

$ 146,705

$ 147,888

$ 156,188

$ 446,656

$ 476,689

Less: amortization of intangibles

(7,122)

(7,141)

(7,160)

(7,217)

(8,245)

(21,423)

(21,853)

Less: restructuring and merger-related expense

(730)

(1,003)

(3,713)

(3,483)

(11,383)

(5,446)

(72,449)

Non-interest expense excluding restructuring and merger-related expense

143,015

140,942

135,832

137,188

136,560

419,787

382,387

Taxable equivalent net interest income

228,164

223,447

216,683

223,590

217,963

668,293

595,682

Non-interest income, excluding net securities gains

46,017

51,988

41,844

42,193

43,654

139,848

121,184

Taxable equivalent net interest income plus non-interest income

$ 274,181

$ 275,435

$ 258,527

$ 265,783

$ 261,617

$ 808,141

$ 716,866

Efficiency ratio

52.16 %

51.17 %

52.54 %

51.62 %

52.20 %

51.94 %

53.34 %

Adjusted net income available to common shareholders, excluding certain items:

Net income available to common shareholders

$ 85,265

$ 88,437

$ 84,395

$ 78,162

$ 81,042

$ 258,096

$ 124,401

Add: after-tax restructuring and merger-related expenses (1)

577

792

2,933

2,752

8,993

4,302

57,235

Add: after-tax day one provision for credit losses on acquired loans (1)

46,926

Adjusted net income available to common shareholders, excluding certain items:

$ 85,842

$ 89,229

$ 87,328

$ 80,914

$ 90,035

$ 262,398

$ 228,562

Earnings per common share - diluted, adjusted:

Net income per common share - diluted

$ 0.88

$ 0.91

$ 0.88

$ 0.81

$ 0.84

$ 2.67

$ 1.39

Add: after-tax restructuring and merger-related expenses per common share - diluted (1)

0.01

0.03

0.10

0.05

0.63

Add: after-tax day one provision for credit losses on acquired loans (1)

0.53

Earnings per common share - diluted, adjusted

$ 0.89

$ 0.92

$ 0.91

$ 0.84

$ 0.94

$ 2.72

$ 2.55

WESBANCO, INC.

Non-GAAP Financial Measures (continued)

Period End

Sept. 30,

June 30,

March 31,

Dec. 31,

Sept. 30,

2026

2025

Tangible book value per share:

Total shareholders' equity

$ 4,083,124

$ 4,109,685

$ 4,070,608

$ 4,031,913

$ 4,116,527

Less: goodwill and other intangible assets, net of def. tax liability

(1,676,830)

(1,682,457)

(1,688,098)

(1,693,755)

(1,702,916)

Less: preferred shareholder's equity

(224,187)

(368,867)

Tangible common equity

2,182,107

2,203,041

2,158,323

2,113,971

2,044,744

Common shares outstanding

95,984,127

95,869,209

96,134,158

96,067,559

96,044,222

Tangible book value per share

$ 22.73

$ 22.98

$ 22.45

$ 22.01

$ 21.29

Tangible book value per share, excluding AOCI:

Tangible common equity

$ 2,182,107

$ 2,203,041

$ 2,158,323

$ 2,113,971

$ 2,044,744

Less: Accumulated other comprehensive loss

(235,699)

(153,157)

(147,195)

(133,320)

(148,669)

Tangible common equity, excluding accumulated other comprehensive loss

2,417,806

2,356,198

2,305,518

2,247,291

2,193,413

Common shares outstanding

95,984,127

95,869,209

96,134,158

96,067,559

96,044,222

Tangible book value per share, excluding AOCI:

$ 25.19

$ 24.58

$ 23.98

$ 23.39

$ 22.84

Tangible common equity to tangible assets:

Total shareholders' equity

$ 4,083,124

$ 4,109,685

$ 4,070,608

$ 4,031,913

$ 4,116,527

Less: goodwill and other intangible assets, net of def. tax liability

(1,676,830)

(1,682,457)

(1,688,098)

(1,693,755)

(1,702,916)

Tangible equity

2,406,294

2,427,228

2,382,510

2,338,158

2,413,611

Less: preferred shareholder's equity

(224,187)

(368,867)

Tangible common equity

2,182,107

2,203,041

2,158,323

2,113,971

2,044,744

Total assets

28,466,059

27,796,917

27,482,455

27,696,333

27,518,042

Less: goodwill and other intangible assets, net of def. tax liability

(1,676,830)

(1,682,457)

(1,688,098)

(1,693,755)

(1,702,916)

Tangible assets

$ 26,789,229

$ 26,114,460

$ 25,794,357

$ 26,002,578

$ 25,815,126

Tangible equity to tangible assets

8.98 %

9.29 %

9.24 %

8.99 %

9.35 %

Tangible common equity to tangible assets

8.15 %

8.44 %

8.37 %

8.13 %

7.92 %

(1) Tax effected at 21% for all periods presented.

(2) The ratios are annualized by utilizing actual numbers of days in the quarter versus the year.

WESBANCO, INC.

Non-GAAP Financial Measures (continued)

Three Months Ended

Year to Date

(unaudited, dollars in thousands,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

except shares and per share amounts)

2026

2025

2026

2025

Pre-tax, pre-provision income:

Income before provision for income taxes

$ 113,215

$ 117,523

$ 111,424

$ 114,620

$ 103,310

$ 342,162

$ 164,618

Add: provision for credit losses

8,661

9,185

(897)

3,059

2,082

16,949

74,183

Pre-tax, pre-provision income

$ 121,876

$ 126,708

$ 110,527

$ 117,679

$ 105,392

$ 359,111

$ 238,801

Pre-tax, pre-provision income, excluding restructuring and merger-related expenses:

Income before provision for income taxes

$ 113,215

$ 117,523

$ 111,424

$ 114,620

$ 103,310

$ 342,162

$ 164,618

Add: provision for credit losses

8,661

9,185

(897)

3,059

2,082

16,949

74,183

Add: restructuring and merger-related expenses

730

1,003

3,713

3,483

11,383

5,446

72,449

Pre-tax, pre-provision income, excluding restructuring and merger-related expenses

$ 122,606

$ 127,711

$ 114,240

$ 121,162

$ 116,775

$ 364,557

$ 311,250

Pre-tax, pre-provision return on average assets, excluding restructuring and merger-related expenses:

Pre-tax, pre-provision income, excluding restructuring and merger-related expenses

$ 122,606

$ 127,711

$ 114,240

$ 121,162

$ 116,775

$ 364,557

$ 311,250

Average total assets

$ 28,020,200

$ 27,514,390

$ 27,530,620

$ 27,481,963

$ 27,419,726

$ 27,690,197

$ 25,457,359

Pre-tax, pre-provision return on average assets, excluding restructuring and merger-related expenses (annualized) (1)

1.74 %

1.86 %

1.68 %

1.75 %

1.69 %

1.76 %

1.63 %

Pre-tax, pre-provision return on average equity, excluding restructuring and merger-related expenses:

Pre-tax, pre-provision income, excluding restructuring and merger-related expenses

$ 122,606

$ 127,711

$ 114,240

$ 121,162

$ 116,775

$ 364,557

$ 311,250

Average total shareholders' equity

$ 4,146,309

$ 4,110,881

$ 4,086,617

$ 4,088,456

$ 3,898,142

$ 4,114,821

$ 3,625,333

Pre-tax, pre-provision return on average equity, excluding restructuring and merger-related expenses (annualized) (1)

11.73 %

12.46 %

11.34 %

11.76 %

11.88 %

11.85 %

11.48 %

Pre-tax, pre-provision return on average tangible equity, excluding certain items (2):

Income before provision for income taxes

$ 113,215

$ 117,523

$ 111,424

$ 114,620

$ 103,310

$ 342,162

$ 164,618

Add: provision for credit losses

8,661

9,185

(897)

3,059

2,082

16,949

74,183

Add: amortization of intangibles

7,122

7,141

7,160

7,217

8,425

21,423

21,853

Add: restructuring and merger-related expenses

730

1,003

3,713

3,483

11,383

5,446

72,449

Pre-tax, pre-provision income before restructuring and merger-related expenses and amortization of intangibles

$ 129,728

$ 134,852

$ 121,400

$ 128,379

$ 125,200

$ 385,980

$ 333,103

Average total shareholders' equity

$ 4,146,309

$ 4,110,881

$ 4,086,617

$ 4,088,456

$ 3,898,142

$ 4,114,821

$ 3,625,333

Less: average goodwill and other intangibles, net of def. tax liability

(1,679,643)

(1,685,204)

(1,691,156)

(1,700,188)

(1,704,105)

(1,685,292)

(1,543,552)

Average tangible equity

$ 2,466,666

$ 2,425,677

$ 2,395,461

$ 2,388,268

$ 2,194,037

$ 2,429,529

$ 2,081,781

Pre-tax, pre-provision return on average tangible equity, excluding certain items (annualized) (1) (2)

20.87 %

22.30 %

20.55 %

21.33 %

22.64 %

21.24 %

21.39 %

Pre-tax, pre-provision return on average tangible common equity, excluding certain items (2):

Pre-tax, pre-provision income before restructuring and merger-related expenses and amortization of intangibles

$ 129,728

$ 134,852

$ 121,400

$ 128,379

$ 125,200

$ 385,980

$ 333,103

Average tangible common equity

$ 2,242,479

$ 2,201,490

$ 2,171,274

$ 2,096,528

$ 2,015,329

$ 2,205,342

$ 1,925,764

Pre-tax, pre-provision return on average tangible common equity, excluding certain items (annualized) (1) (2)

22.95 %

24.57 %

22.68 %

24.29 %

24.65 %

23.40 %

23.13 %

(1) The ratios are annualized by utilizing actual numbers of days in the quarter versus the year.

(2) Certain items excluded from the calculations consist of credit provisions, tax provisions and restructuring and merger-related expenses.

SOURCE WesBanco, Inc.