Form 8-K

8-K — WESBANCO INC

Accession: 0001193125-26-310361

Filed: 2026-07-21

Period: 2026-07-21

CIK: 0000203596

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — wsbc-20260721.htm (Primary)

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8-K

8-K (Primary)

Filename: wsbc-20260721.htm · Sequence: 1

8-K

0000203596false0000203596us-gaap:SeriesBPreferredStockMember2026-07-212026-07-2100002035962026-07-212026-07-210000203596us-gaap:CommonStockMember2026-07-212026-07-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2026

WESBANCO, INC.

(Exact name of Registrant as Specified in Its Charter)

West Virginia

001-39442

55-0571723

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

1 Bank Plaza

Wheeling, West Virginia

26003

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 304 234-9000

Former Name or Former Address, if Changed Since Last Report: Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock $2.0833 Par Value

WSBC

Nasdaq Global Select Market

Depositary Shares (each representing 1/40th interest in a share of 7.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B)

WSBCO

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Wesbanco, Inc. issued a press release and earnings call presentation today announcing earnings for the three and six months ended June 30, 2026. The press release is attached as Exhibit 99.1 and the earnings call presentation is attached as Exhibit 99.2 to this report.

Wesbanco, Inc. will host a conference call to discuss the Company's financial results for the second quarter of 2026 on Wednesday, July 22, 2026 at 9:00 a.m. ET.

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 2665203. The replay will begin at approximately 11:00 a.m. ET on July 22, 2026, and end at 12 a.m. ET on August 6, 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).

The press release is attached as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

99.1 - Press release dated July 21, 2026 announcing the earnings for the three and six months ended June 30, 2026.

99.2 - Second quarter 2026 earnings conference call presentation.

104 – Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Wesbanco, Inc.

(registrant)

Date:

July 21, 2026

/s/ Daniel K. Weiss, Jr.

Daniel K. Weiss, Jr.

Senior Executive Vice President and

Chief Financial Officer

EX-99.1

Filename: wsbc-ex99_1.htm · Sequence: 2

EX-99.1

WesBanco Announces Second Quarter 2026 Financial Results

Marked by strong annualized loan growth, top-tier efficiency ratio, and accelerating growth in targeted expansion markets

Wheeling, WVa. (July 21, 2026) – 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 months ended June 30, 2026. Net income available to common shareholders for the second quarter of 2026 was $88.4 million, with diluted earnings per share of $0.91, compared to $54.9 million and $0.57 per diluted share, respectively, for the second quarter of 2025. For the six months ended June 30, 2026, net income was $172.8 million, or $1.79 per diluted share, compared to $43.4 million, or $0.50 per diluted share, for the 2025 period.

As noted below, WesBanco reported $0.92 of earnings per diluted share, in the second quarter, as compared to $0.91 in the prior year period, when excluding after-tax restructuring and merger-related expenses (non-GAAP measures). On a similar basis and excluding the after-tax day one provision for credit losses on acquired loans, WesBanco reported $1.83 per diluted share, for the six month period, as compared to $1.60 per diluted share last year (non-GAAP measures).

For the Three Months Ended June 30,

For the Six Months Ended June 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)

88,437

0.91

54,884

0.57

172,832

1.79

43,360

0.50

Add: After-tax restructuring and merger-related expenses

792

0.01

32,434

0.34

3,726

0.04

48,242

0.56

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

46,926

0.54

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

89,229

0.92

87,318

0.91

176,558

1.83

138,528

1.60

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

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

•

Generated annualized loan growth of 8.3% over the sequential quarter and 3.5% year-over-year as organic growth across all markets more than offset higher commercial real estate (“CRE”) payoffs of approximately $345 million, which impacted year-over-year loan growth by 1.0%

•

Grew commercial loan pipeline to a record $2.3 billion as of June 30, 2026, reflecting strong business development activity and growing opportunities across all markets, with an average loan to deposit ratio of 88.9% that provides substantial capacity to fund loan growth

•

Increased net interest margin 4 basis points year-over-year to 3.63%, primarily driven by lower funding costs and asset repricing

•

Achieved record fee income levels across securities brokerage, digital banking, and service charges on deposits, as well as record levels of trust assets under management and securities account values

•

Improved efficiency ratio more than 1 percentage point both year-over-year and quarter-over-quarter to a record low of 51.2%, primarily due to a focus on driving positive operating leverage

•

Advanced our organic growth strategy and commercial momentum in targeted expansion markets, including Northern Virginia, Tennessee, and South Florida; and, positioning the Florida franchise for continued growth through planned financial center openings during the first half of 2027

•

Recently recognized as one of America’s High Growth Companies by Business Insider and one of America’s Best Companies by Time

“Our strong second quarter performance reflects the continued success of our relationship-focused banking model and disciplined growth strategy,” said Jeff Jackson, President and Chief Executive Officer, WesBanco. “We generated annualized loan growth of more than 8%, expanded our commercial loan pipeline to a record $2.3 billion, and generated positive operating leverage, demonstrating our ability to drive profitable growth across the franchise. With a solid funding position and strong momentum across our markets – particularly our Premier and expansion markets in Northern Virginia, Tennessee, and Florida – we are well-positioned for continued growth.”

Balance Sheet

WesBanco’s balance sheet, as of June 30, 2026, reflects organic growth and the impact of elevated CRE payoffs. Total assets increased 0.8% year-over-year to $27.8 billion, including total portfolio loans of $19.5 billion and total securities of $4.4 billion. Total portfolio loans increased 3.5% year-over-year due to organic growth of $650 million partially offset by higher CRE payoffs. As anticipated, CRE payoffs continued to remain elevated and totaled approximately $345 million during the second quarter of 2026, consistent with the elevated quarterly levels incurred during the prior nine months. The commercial loan pipeline has grown 90% since year-end to a record $2.3 billion, as of June 30, 2026.

Deposits of $21.6 billion increased 2.1% year-over-year due to organic growth that more than offset the decline in higher cost certificates of deposit (CDs). Despite the closure of 37 financial centers this year, deposits were down only $75 million, or 0.4%, on a sequential quarter basis reflecting the remaining $50 million of brokered deposits that paid off on April 1st and the decline in higher cost CDs. Total deposits excluding CDs increased 4.3% year-over-year and 1.3% annualized sequentially. Total demand deposits represented 49% of total deposits, with the non-interest bearing component representing 24%.

Credit Quality

As of June 30, 2026, credit quality measures have remained in consistent range, from a historical perspective. Non-performing loans remained flat to the first quarter as the three credits added last quarter continue to be addressed. Net charge-offs for the second quarter were 0.02% of total average loans. The allowance for credit losses to total portfolio loans at June 30, 2026 was 1.12% of total loans, or $217.8 million. The second quarter net provision for credit losses of $9.2 million was primarily due to higher loan balances. Excluded from the allowance for credit losses and the related coverage ratio is a remaining unaccreted discount on purchased loans from acquisitions representing 1.41% of total portfolio loans.

Net Interest Margin and Income

The second quarter margin of 3.63% improved 4 basis points year-over-year primarily due to lower funding costs and 6 basis points sequentially due to higher loan yields and lower funding costs. Deposit funding costs of 235 basis points for the second quarter of 2026 decreased 11 basis points from the prior year period and were flat to the first quarter. When including non-interest bearing deposits, deposit funding costs for the second quarter were 178 basis points.

Net interest income for the second quarter of 2026 was $222.2 million, an increase of $5.4 million, or 2.5% year-over-year, reflecting lower FHLB borrowing and deposit costs and higher securities yields. For the six months ended June 30, 2026, net interest income of $437.6 million increased $62.3 million, or 16.6%, primarily due to the reasons discussed for the three-month period comparison and higher loan balances.

Non-Interest Income

For the second quarter of 2026, non-interest income of $53.6 million increased $9.7 million, or 22.0%, from the second quarter of 2025 due primarily to higher net swap and valuation income, service charges on deposits, and other income. Gross swap fees were $2.8 million in the second quarter, compared to $1.4 million in the prior year period, while the fair value adjustment was $0.3 million, compared to a loss of $0.7 million in the prior year period. Service charges on deposits increased $1.1 million year-over-year due to increased general spending and higher transaction volumes from our larger customer base, as well as an increase in monthly fees that took effect during June. Other income for the second quarter of 2026 included a non-recurring $4.8 million gain related to the freezing of future service for actively employed participants in the pension plan. Mortgage banking income decreased $1.3 million from the prior year period primarily due to more mortgage volume going into portfolio loans.

Primarily reflecting the items discussed above, as well as trust fees and net securities brokerage revenue, non-interest income, for the six months ended June 30, 2026, increased $16.8 million, or 21.4%, year-over-year to $95.5 million. Reflecting record asset levels, trust fees and net securities brokerage revenue increased $1.9 million and $1.1 million, respectively, due to the addition of PFC wealth clients, market value appreciation, and organic growth.

Non-Interest Expense

Non-interest expense, excluding restructuring and merger-related costs, for the three months ended June 30, 2026 was $148.1 million, a $2.6 million, or 1.8%, increase year-over-year primarily due to higher salaries and wages offset by discretionary expense management. Salaries and wages of $66.4 million increased due to recent hiring efforts, primarily in Florida, and bonus accrual adjustments. FDIC insurance expense of $4.2 million decreased due to a lower assessment rate associated with our improved financial ratios. Equipment and software of $2.3 million, which was consistent with the last several quarters, decreased $1.5 million year-over-year due to the cost of operating two core systems in the prior year related to the PFC acquisition until the conversion to one platform in mid-May 2025. Amortization of intangible assets of $7.1 million, which was consistent with the last couple quarters, decreased $2.1 million year-over-year due to the core deposit intangible asset that was created from the acquisition of PFC in the prior year. Restructuring and merger-related expenses decreased $40.1 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 half of 2026 of $291.1 million increased $31.6 million, or 12.2%, compared to the prior year period, due primarily to the expenses described above.

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 June 30, 2026, Tier I leverage was 9.83%, Tier I risk-based capital ratio was 11.72%, common equity Tier 1 capital ratio (“CET 1”) was 10.70%, and total risk-based capital was 14.18%. In addition, the tangible common equity to tangible assets ratio was 8.44%.

During the second quarter, WesBanco repurchased 0.3 million shares of its outstanding common stock on the open market at a total cost of $9.7 million, or $33.55 per share. As of June 30, 2026, approximately 4.5 million shares remained for repurchase under the combination of the 4.0 million share repurchase authorization approved by WesBanco’s Board of Directors on May 20, 2026 and the remainder of the February 24, 2022 authorization.

Conference Call and Webcast

WesBanco will host a conference call to discuss the Company's financial results for the second quarter of 2026 at 9:00 a.m. ET on Wednesday, July 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 4494073. The replay will begin at approximately 11:00 a.m. ET on July 22, 2026, and end at 12 a.m. ET on August 6, 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 quarter ended March 31, 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 filed with the SEC under “Risk Factors” in Part I, Item 1A. 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, such as pre-tax pre-provision income, tangible common equity/tangible assets; net income excluding after-tax restructuring and

merger-related expenses and excluding after-tax day one provision for credit losses on acquired loans; efficiency ratio; return on average assets; and return on average tangible equity. 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.

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 $27.8 billion in total assets, with our Trust and Investment Services holding $8.2 billion of assets under management and securities account values (including annuities) of $2.7 billion through our broker/dealer, as of June 30, 2026. Learn more at www.wesbanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram.

SOURCE: WesBanco, Inc.

WesBanco Company Contact:

John H. Iannone

Senior Vice President, Investor Relations

304-905-7021

###

WESBANCO, INC.

Consolidated Selected Financial Highlights

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

For the Three Months Ended

For the Six Months Ended

STATEMENT OF INCOME

June 30,

2026

2025

% Change

2026

2025

% Change

Interest and dividend income

Loans, including fees

287,916

290,104

(0.8

)

568,904

508,512

11.9

Interest and dividends on securities:

Taxable

32,083

31,066

3.3

63,526

53,314

19.2

Tax-exempt

4,833

4,616

4.7

9,657

9,145

5.6

Total interest and dividends on securities

36,916

35,682

3.5

73,183

62,459

17.2

Other interest income

8,219

10,596

(22.4

)

16,587

18,643

(11.0

)

Total interest and dividend income

333,051

336,382

(1.0

)

658,674

589,614

11.7

Interest expense

Interest bearing demand deposits

30,567

30,405

0.5

59,935

59,782

0.3

Money market deposits

33,650

36,287

(7.3

)

65,804

57,422

14.6

Savings deposits

11,029

8,670

27.2

21,147

16,029

31.9

Certificates of deposit

20,590

21,442

(4.0

)

43,181

39,999

8.0

Total interest expense on deposits

95,836

96,804

(1.0

)

190,067

173,232

9.7

Federal Home Loan Bank borrowings

10,390

16,683

(37.7

)

21,705

29,718

(27.0

)

Other short-term borrowings

565

816

(30.8

)

1,163

1,938

(40.0

)

Subordinated debt and junior subordinated debt

4,098

5,310

(22.8

)

8,177

9,438

(13.4

)

Total interest expense

110,889

119,613

(7.3

)

221,112

214,326

3.2

Net interest income

222,162

216,769

2.5

437,562

375,288

16.6

Provision for credit losses

9,185

3,218

185.4

8,288

72,101

(88.5

)

Net interest income after provision for credit losses

212,977

213,551

(0.3

)

429,274

303,187

41.6

Non-interest income

Trust fees

9,830

9,657

1.8

20,272

18,355

10.4

Service charges on deposits

11,546

10,484

10.1

22,507

19,070

18.0

Digital banking income

7,410

7,325

1.2

14,008

12,730

10.0

Net swap fee and valuation income

3,135

746

320.2

4,197

1,706

146.0

Net securities brokerage revenue

3,670

3,348

9.6

7,142

6,049

18.1

Bank-owned life insurance

4,317

3,450

25.1

8,127

6,878

18.2

Mortgage banking income

1,055

2,364

(55.4

)

1,974

3,504

(43.7

)

Net securities gains

1,644

1,410

16.6

1,631

1,092

49.4

Net gains on other real estate owned and other assets

2,036

111

2,583

Other income

8,989

5,062

77.6

13,021

9,167

42.0

Total non-interest income

53,632

43,957

22.0

95,462

78,622

21.4

Non-interest expense

Salaries and wages

66,402

60,153

10.4

130,366

108,730

19.9

Employee benefits

19,148

18,857

1.5

36,759

31,827

15.5

Net occupancy

7,863

8,119

(3.2

)

16,393

15,897

3.1

Equipment and software

15,640

17,140

(8.8

)

31,317

30,190

3.7

Marketing

2,271

1,864

21.8

3,798

4,246

(10.6

)

FDIC insurance

4,168

5,479

(23.9

)

8,951

9,666

(7.4

)

Amortization of intangible assets

7,141

9,204

(22.4

)

14,301

13,427

6.5

Restructuring and merger-related expense

1,003

41,056

(97.6

)

4,716

61,066

(92.3

)

Other operating expenses

25,450

24,663

3.2

49,187

45,451

8.2

Total non-interest expense

149,086

186,535

(20.1

)

295,788

320,500

(7.7

)

Income before provision for income taxes

117,523

70,973

65.6

228,948

61,309

273.4

Provision for income taxes

24,846

13,558

83.3

47,635

12,886

269.7

Net Income

92,677

57,415

61.4

181,313

48,423

274.4

Preferred stock dividends

4,240

2,531

67.5

8,481

5,063

67.5

Net income available to common shareholders

88,437

54,884

61.1

172,832

43,360

298.6

Taxable equivalent net interest income

223,447

217,996

2.5

440,129

377,719

16.5

Per common share data

Net income per common share - basic

0.92

0.57

61.4

1.80

0.50

260.0

Net income per common share - diluted

0.91

0.57

59.6

1.79

0.50

258.0

Adjusted net income per common share - diluted, excluding certain items (1) (2)

0.92

0.91

1.1

1.83

1.60

14.4

Dividends declared

0.38

0.37

2.7

0.76

0.74

2.7

Book value (period end)

40.53

38.28

5.9

40.53

38.28

5.9

Tangible book value (period end) (1)

22.98

20.48

12.2

22.98

20.48

12.2

Average common shares outstanding - basic

96,028,958

95,744,980

0.3

96,066,022

86,339,970

11.3

Average common shares outstanding - diluted

96,703,880

95,808,310

0.9

96,506,410

86,466,701

11.6

Period end common shares outstanding

95,869,209

95,986,023

(0.1

)

95,869,209

95,986,023

(0.1

)

Period end preferred shares outstanding

230,000

150,000

53.3

230,000

150,000

53.3

(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.

NM - Not Meaningful

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands, unless otherwise noted)

Selected ratios

For the Six Months Ended

June 30,

2026

2025

% Change

Return on average assets

1.27

0.36

252.78

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

1.29

1.14

13.16

Return on average equity

8.50

2.51

238.65

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

8.69

8.01

8.49

Return on average tangible equity (1)

15.40

5.38

186.25

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

15.71

14.85

5.79

Return on average tangible common equity (1)

16.98

5.79

193.26

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

17.33

15.99

8.38

Yield on earning assets (3)

5.41

5.46

(0.92

)

Cost of interest bearing liabilities

2.50

2.73

(8.42

)

Net interest spread (3)

2.91

2.73

6.59

Net interest margin (3)

3.60

3.48

3.45

Efficiency (1) (3)

51.83

53.91

(3.86

)

Average loans to average deposits

88.97

89.42

(0.50

)

Annualized net loan charge-offs/average loans

0.09

Effective income tax rate

20.81

21.02

(1.00

)

For the Three Months Ended

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

2026

2025

Return on average assets

1.29

1.24

1.13

1.17

0.81

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

1.30

1.29

1.17

1.30

1.28

Return on average equity

8.63

8.38

7.58

8.25

5.76

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

8.71

8.67

7.85

9.16

9.17

Return on average tangible equity (1)

15.56

15.25

13.93

15.86

11.27

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

15.69

15.74

14.39

17.48

17.16

Return on average tangible common equity (1)

17.14

16.82

15.87

17.26

12.06

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

17.28

17.37

16.39

19.03

18.36

Yield on earning assets (3)

5.44

5.38

5.51

5.58

5.56

Cost of interest bearing liabilities

2.50

2.62

2.79

2.69

Net interest spread (3)

2.94

2.88

2.79

2.87

Net interest margin (3)

3.63

3.57

3.61

3.53

3.59

Efficiency (1) (3)

51.17

52.54

51.62

52.13

52.30

Average loans to average deposits

88.89

89.05

88.78

89.41

89.47

Annualized net loan charge-offs and recoveries /average loans

0.02

0.16

0.06

0.19

0.09

Effective income tax rate

21.14

20.45

20.51

19.10

Trust and Investment Services assets under management (4)

8,227

7,810

7,886

7,688

7,205

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

2,704

2,574

2,481

2,588

2,554

(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, except shares)

% Change

June 30,

December 31,

June 30, 2026

Balance sheets

2026

2025

% Change

2025

to Dec. 31, 2025

Assets

Cash and due from banks

226,961

402,755

(43.6

)

204,860

10.8

Due from banks - interest bearing

644,813

754,275

(14.5

)

751,249

(14.2

)

Securities:

Equity securities, at fair value

19,060

29,538

(35.5

)

30,809

(38.1

)

Available-for-sale debt securities, at fair value

3,312,972

3,222,819

2.8

3,288,332

0.7

Held-to-maturity debt securities (fair values of $1,005,725, $1,006,110 and $1,035,957 respectively)

1,107,751

1,137,782

(2.6

)

1,132,114

(2.2

)

Allowance for credit losses - held-to-maturity debt securities

(165

)

(178

)

7.3

(168

)

1.8

Net held-to-maturity debt securities

1,107,586

1,137,604

(2.6

)

1,131,946

(2.2

)

Total securities

4,439,618

4,389,961

1.1

4,451,087

(0.3

)

Loans held for sale

57,318

123,019

(53.4

)

87,454

(34.5

)

Portfolio loans:

Commercial real estate

11,093,370

10,600,210

4.7

10,938,834

1.4

Commercial and industrial

2,949,863

2,819,096

4.6

2,863,893

3.0

Residential real estate

3,939,813

3,939,796

0.0

3,938,585

0.0

Home equity

1,191,809

1,052,334

13.3

1,129,394

5.5

Consumer

304,111

417,190

(27.1

)

355,726

(14.5

)

Total portfolio loans, net of unearned income

19,478,966

18,828,626

3.5

19,226,432

1.3

Allowance for credit losses - loans

(217,775

)

(223,866

)

2.7

(218,749

)

0.4

Net portfolio loans

19,261,191

18,604,760

3.5

19,007,683

1.3

Premises and equipment, net

248,200

274,137

(9.5

)

263,240

(5.7

)

Accrued interest receivable

102,342

106,410

(3.8

)

106,651

(4.0

)

Goodwill and other intangible assets, net

1,709,084

1,745,170

(2.1

)

1,723,385

(0.8

)

Bank-owned life insurance

562,297

552,051

1.9

557,512

0.9

Other assets

545,093

619,038

(11.9

)

543,212

0.3

Total Assets

27,796,917

27,571,576

0.8

27,696,333

0.4

Liabilities

Deposits:

Non-interest bearing demand

5,287,995

5,328,181

(0.8

)

5,376,767

(1.7

)

Interest bearing demand

5,364,937

4,865,091

10.3

5,186,880

3.4

Money market

5,012,414

4,825,154

3.9

5,072,039

(1.2

)

Savings deposits

3,335,823

3,192,943

4.5

3,157,782

5.6

Certificates of deposit

2,591,047

2,943,187

(12.0

)

2,875,372

(9.9

)

Total deposits

21,592,216

21,154,556

2.1

21,668,840

(0.4

)

Federal Home Loan Bank borrowings

1,350,000

1,750,000

(22.9

)

1,200,000

12.5

Other short-term borrowings

88,419

103,666

(14.7

)

110,679

(20.1

)

Subordinated debt and junior subordinated debt

308,837

357,762

(13.7

)

308,529

0.1

Total borrowings

1,747,256

2,211,428

(21.0

)

1,619,208

7.9

Accrued interest payable

17,567

25,967

(32.3

)

19,150

(8.3

)

Other liabilities

330,193

360,405

(8.4

)

357,222

(7.6

)

Total Liabilities

23,687,232

23,752,356

(0.3

)

23,664,420

0.1

Shareholders' Equity

Preferred stock, no par value; 1,000,000 shares authorized; 0, 150,000 and 0 shares 6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference $150.0 million, issued and outstanding, respectively

144,484

(100.0

)

Preferred stock, no par value; 1,000,000 shares authorized; 230,000, 0 and 230,000 shares of 7.375% non-cumulative perpetual preferred stock, Series B, liquidation preference $230.0 million, issued and outstanding, respectively

224,187

100.0

224,187

Common stock, $2.0833 par value; 200,000,000 shares authorized; 96,191,910, 95,986,023 and 96,067,559 shares issued; 95,869,209, 95,986,023 and 96,067,559 shares outstanding, respectively

200,396

199,967

0.2

200,137

0.1

Capital surplus

2,498,629

2,485,458

0.5

2,490,440

0.3

Retained earnings

1,352,870

1,165,058

16.1

1,252,765

8.0

Treasury stock (322,701, 0 and 0 shares - at cost, respectively)

(10,924

)

100.0

Accumulated other comprehensive loss

(153,157

)

(173,644

)

11.8

(133,320

)

(14.9

)

Deferred benefits for directors

(2,316

)

(2,103

)

(10.1

)

(2,296

)

(0.9

)

Total Shareholders' Equity

4,109,685

3,819,220

7.6

4,031,913

1.9

Total Liabilities and Shareholders' Equity

27,796,917

27,571,576

0.8

27,696,333

0.4

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands, except shares)

June 30,

March 31,

Balance sheets

2026

% Change

Assets

Cash and due from banks

226,961

214,453

5.8

Due from banks - interest bearing

644,813

745,957

(13.6

)

Securities:

Equity securities, at fair value

19,060

30,256

(37.0

)

Available-for-sale debt securities, at fair value

3,312,972

3,298,237

0.4

Held-to-maturity (fair values of $1,005,725 and $1,011,303 respectively)

1,107,751

1,120,597

(1.1

)

Allowance for credit losses - held-to-maturity debt securities

(165

)

(151

)

(9.3

)

Net held-to-maturity debt securities

1,107,586

1,120,446

(1.1

)

Total securities

4,439,618

4,448,939

(0.2

)

Loans held for sale

57,318

59,281

(3.3

)

Portfolio loans:

Commercial real estate

11,093,370

10,902,275

1.8

Commercial and industrial

2,949,863

2,785,440

5.9

Residential real estate

3,939,813

3,920,209

0.5

Home equity

1,191,809

1,149,878

3.6

Consumer

304,111

324,879

(6.4

)

Total portfolio loans, net of unearned income

19,478,966

19,082,681

2.1

Allowance for credit losses - loans

(217,775

)

(210,023

)

(3.7

)

Net portfolio loans

19,261,191

18,872,658

2.1

Premises and equipment, net

248,200

251,325

(1.2

)

Accrued interest receivable

102,342

105,288

(2.8

)

Goodwill and other intangible assets, net

1,709,084

1,716,225

(0.4

)

Bank-owned life insurance

562,297

560,773

0.3

Other assets

545,093

507,556

7.4

Total Assets

27,796,917

27,482,455

1.1

Liabilities

Deposits:

Non-interest bearing demand

5,287,995

5,223,034

1.2

Interest bearing demand

5,364,937

5,505,382

(2.6

)

Money market

5,012,414

4,904,510

2.2

Savings deposits

3,335,823

3,306,044

0.9

Certificates of deposit

2,591,047

2,729,304

(5.1

)

Total deposits

21,592,216

21,668,274

(0.4

)

Federal Home Loan Bank borrowings

1,350,000

975,000

38.5

Other short-term borrowings

88,419

114,068

(22.5

)

Subordinated debt and junior subordinated debt

308,837

308,683

0.0

Total borrowings

1,747,256

1,397,751

25.0

Accrued interest payable

17,567

19,917

(11.8

)

Other liabilities

330,193

325,905

1.3

Total Liabilities

23,687,232

23,411,847

1.2

Shareholders' Equity

Preferred stock, no par value; 1,000,000 shares authorized; 230,000 shares 7.375% non-cumulative perpetual preferred stock, Series B, liquidation preference $230.0 million, issued and outstanding, respectively

224,187

Common stock, $2.0833 par value; 200,000,000 shares authorized; 96,191,910 and 96,134,158 shares issued; 95,869,209 and 96,134,158 shares outstanding, respectively

200,396

200,276

0.1

Capital surplus

2,498,629

2,495,091

0.1

Retained earnings

1,352,870

1,300,628

4.0

Treasury stock (322,701 and 0 shares - at cost, respectively)

(10,924

)

100.0

Accumulated other comprehensive loss

(153,157

)

(147,195

)

(4.1

)

Deferred benefits for directors

(2,316

)

(2,379

)

2.6

Total Shareholders' Equity

4,109,685

4,070,608

1.0

Total Liabilities and Shareholders' Equity

27,796,917

27,482,455

1.1

WESBANCO, INC.

Consolidated Selected Financial Highlights

(unaudited, dollars in thousands)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

Average balance sheet and

Average

net interest margin analysis

Balance

Rate

Balance

Rate

Balance

Rate

Balance

Rate

Assets

Due from banks - interest bearing

716,620

3.89

746,583

4.79

731,085

3.90

675,962

4.76

Loans, net of unearned income (1)

19,240,187

6.00

18,903,459

6.16

19,214,689

5.97

16,823,658

6.10

Securities: (2)

Taxable

3,921,258

3.28

3,881,680

3.21

3,912,760

3.27

3,567,118

3.01

Tax-exempt (3)

733,614

3.34

731,866

3.20

736,525

3.35

732,482

3.19

Total securities

4,654,872

3.29

4,613,546

3.21

4,649,285

3.29

4,299,600

3.04

Other earning assets

57,148

8.86

87,138

7.75

59,697

8.26

74,336

7.31

Total earning assets (3)

24,668,827

5.44

24,350,726

5.56

24,654,756

5.41

21,873,556

5.46

Other assets

2,845,563

2,953,974

2,867,704

2,586,357

Total Assets

27,514,390

27,304,700

27,522,460

24,459,913

Liabilities and Shareholders' Equity

Interest bearing demand deposits

5,432,483

2.26

4,885,687

2.50

5,380,121

2.25

4,531,324

2.66

Money market accounts

4,936,974

2.73

4,830,592

3.01

4,919,115

2.70

4,025,925

2.88

Savings deposits

3,318,841

1.33

3,122,815

1.11

3,278,372

1.30

2,865,410

1.13

Certificates of deposit

2,662,394

3.10

2,960,970

2.90

2,744,568

3.17

2,575,458

3.13

Total interest bearing deposits

16,350,692

2.35

15,800,064

2.46

16,322,176

2.35

13,998,117

2.50

Federal Home Loan Bank borrowings

1,040,934

4.00

1,585,821

4.22

1,097,790

3.99

1,378,552

4.35

Repurchase agreements

101,809

2.23

118,988

2.75

104,581

2.24

140,829

2.78

Subordinated debt and junior subordinated debt

308,740

5.32

357,379

5.96

308,663

5.34

331,488

5.74

Total interest bearing liabilities (4)

17,802,175

2.50

17,862,252

2.69

17,833,210

2.50

15,848,986

2.73

Non-interest bearing demand deposits

5,294,900

5,328,576

5,275,299

4,816,070

Other liabilities

306,434

294,359

315,135

308,189

Shareholders' equity

4,110,881

3,819,513

4,098,816

3,486,668

Total Liabilities and Shareholders' Equity

27,514,390

27,304,700

27,522,460

24,459,913

Taxable equivalent net interest spread

2.94

2.87

2.91

2.73

Taxable equivalent net interest margin

3.63

3.59

3.60

3.48

(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 $2.1 million and $2.5 million for the three months ended June 30, 2026 and 2025, respectively, and were $3.9 million and $4.1 million for the six months ended June 30, 2026 and 2025, respectively. Additionally, loan accretion included in interest income on loans acquired from prior acquisitions was $14.7 million and $16.5 million for the three months ended June 30, 2026 and 2025, respectively, and was $28.0 million and $23.3 million for the six months ended June 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 $5.6 million for the three months ended June 30, 2026 and 2025, respectively, and was $0.4 million and $7.8 million for the six months ended June 30, 2026 and 2025, respectively.

WESBANCO, INC.

Consolidated Selected Financial Highlights

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

Quarter Ended

June 30,

March 31,

Dec. 31,

Sept. 30,

June 30,

Statement of Income

2026

2025

Interest and dividend income

Loans, including fees

287,916

280,989

293,208

295,482

290,104

Interest and dividends on securities:

Taxable

32,083

31,443

31,546

31,483

31,066

Tax-exempt

4,833

4,824

4,865

4,692

4,616

Total interest and dividends on securities

36,916

36,267

36,411

36,175

35,682

Other interest income

8,219

8,368

9,821

11,229

10,596

Total interest and dividend income

333,051

325,624

339,440

342,886

336,382

Interest expense

Interest bearing demand deposits

30,567

29,368

29,821

31,351

30,405

Money market deposits

33,650

32,151

36,166

38,249

36,287

Savings deposits

11,029

10,119

9,570

9,577

8,670

Certificates of deposit

20,590

22,591

24,235

23,554

21,442

Total interest expense on deposits

95,836

94,229

99,792

102,731

96,804

Federal Home Loan Bank borrowings

10,390

11,316

11,378

17,337

16,683

Other short-term borrowings

565

598

730

766

816

Subordinated debt and junior subordinated debt

4,098

4,080

5,243

5,336

5,310

Total interest expense

110,889

110,223

117,143

126,170

119,613

Net interest income

222,162

215,401

222,297

216,716

216,769

Provision for credit losses

9,185

(897

)

3,059

2,082

3,218

Net interest income after provision for credit losses

212,977

216,298

219,238

214,634

213,551

Non-interest income

Trust fees

9,830

10,442

9,745

8,987

9,657

Service charges on deposits

11,546

10,961

11,159

11,163

10,484

Digital banking income

7,410

6,599

6,422

7,324

7,325

Net swap fee and valuation income

3,135

1,062

3,959

3,231

746

Net securities brokerage revenue

3,670

3,472

2,836

2,961

3,348

Bank-owned life insurance

4,317

3,811

4,458

3,765

3,450

Mortgage banking income

1,055

919

791

1,898

2,364

Net securities gains / (losses)

1,644

(13

)

1,077

1,210

1,410

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

2,036

546

(824

)

329

111

Other income

8,989

4,032

3,647

3,996

5,062

Total non-interest income

53,632

41,831

43,270

44,864

43,957

Non-interest expense

Salaries and wages

66,402

63,964

61,664

60,583

60,153

Employee benefits

19,148

17,611

17,148

18,040

18,857

Net occupancy

7,863

8,529

8,522

8,819

8,119

Equipment and software

15,640

15,678

16,110

16,310

17,140

Marketing

2,271

1,526

2,636

2,979

1,864

FDIC insurance

4,168

4,784

5,411

5,820

5,479

Amortization of intangible assets

7,141

7,160

7,217

8,425

9,204

Restructuring and merger-related expense

1,003

3,713

3,483

11,383

41,056

Other operating expenses

25,450

23,740

25,697

23,829

24,663

Total non-interest expense

149,086

146,705

147,888

156,188

186,535

Income before provision for income taxes

117,523

111,424

114,620

103,310

70,973

Provision for income taxes

24,846

22,789

23,510

19,737

13,558

Net Income

92,677

88,635

91,110

83,573

57,415

Preferred stock dividends

4,240

12,948

2,531

Net income available to common shareholders

88,437

84,395

78,162

81,042

54,884

Taxable equivalent net interest income

223,447

216,683

223,590

217,963

217,996

Per common share data

Net income per common share - basic

0.92

0.88

0.81

0.84

0.57

Net income per common share - diluted

0.91

0.88

0.81

0.84

0.57

Adjusted net income per common share - diluted, excluding certain items (1) (2)

0.92

0.91

0.84

0.94

0.91

Dividends declared

0.38

0.37

Book value (period end)

40.53

40.01

39.64

39.02

38.28

Tangible book value (period end) (1)

22.98

22.45

22.01

21.29

20.48

Average common shares outstanding - basic

96,028,958

96,103,497

96,053,336

95,995,174

95,744,980

Average common shares outstanding - diluted

96,703,880

96,309,352

96,226,845

96,116,617

95,808,310

Period end common shares outstanding

95,869,209

96,134,158

96,067,559

96,044,222

95,986,023

Period end preferred shares outstanding

230,000

380,000

150,000

Full time equivalent employees

2,996

2,973

3,030

3,064

3,253

(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

June 30,

March 31,

Dec. 31,

Sept. 30,

June 30,

Asset quality data

2026

2025

Non-performing assets:

Total non-performing loans

146,058

145,008

91,584

94,463

84,319

Other real estate and repossessed assets

1,391

1,323

907

997

958

Total non-performing assets

147,449

146,331

92,491

95,460

85,277

Past due loans (1):

Loans past due 30-89 days

67,388

89,877

91,199

80,333

65,401

Loans past due 90 days or more

21,783

16,210

37,783

19,430

20,890

Total past due loans

89,171

106,087

128,982

99,763

86,291

Loans past due 30-89 days / total portfolio loans

0.35

0.47

0.42

0.35

Loans past due 90 days or more / total portfolio loans

0.11

0.08

0.20

0.10

0.11

Non-performing loans / total portfolio loans

0.75

0.76

0.48

0.50

0.45

Non-performing assets/total portfolio loans, other

real estate and repossessed assets

0.76

0.77

0.48

0.50

0.45

Non-performing assets / total assets

0.53

0.33

0.35

0.31

Allowance for credit losses

Allowance for credit losses - loans

217,775

210,023

218,749

217,666

223,866

Allowance for credit losses - loan commitments

7,740

7,212

6,950

7,628

6,168

Provision for credit losses

9,185

(897

)

3,059

2,082

3,218

Net loan and deposit account overdraft charge-offs and recoveries

892

7,584

2,666

8,867

4,329

Annualized net loan charge-offs and recoveries / average loans

0.02

0.16

0.06

0.19

0.09

Allowance for credit losses - loans / total portfolio loans

1.12

1.10

1.14

1.15

1.19

Allowance for credit losses - loans / non-performing loans

1.49

1.45

2.39

2.30

2.65

Allowance for credit losses - loans / non-performing loans

and loans past due

0.93

0.84

0.99

1.12

1.31

Quarter Ended

June 30,

March 31,

Dec. 31,

Sept. 30,

June 30,

2026

2025

Capital ratios

Tier I leverage capital

9.83

9.63

9.42

9.72

8.66

Tier I risk-based capital

11.72

11.42

11.83

10.59

Total risk-based capital

14.18

14.19

13.92

14.58

13.40

Common equity tier 1 capital ratio (CET 1)

10.70

10.67

10.37

10.10

9.90

Average shareholders' equity to average assets

14.94

14.84

14.88

14.22

13.99

Tangible equity to tangible assets (2)

9.29

9.24

8.99

9.35

8.16

Tangible common equity to tangible assets (2)

8.44

8.37

8.13

7.92

7.60

(1) Excludes non-performing loans.

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

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

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

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

2026

2025

2026

2025

Return on average assets, excluding certain items:

Net income available to common shareholders

88,437

84,395

78,162

81,042

54,884

172,832

43,360

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

792

2,933

2,752

8,993

32,434

3,726

48,242

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

46,926

Net income available to common shareholders, excluding certain items

89,229

87,328

80,914

90,035

87,318

176,558

138,528

Average total assets

27,514,390

27,530,620

27,481,963

27,419,726

27,304,700

27,522,460

24,459,913

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

1.30

1.29

1.17

1.30

1.28

1.29

1.14

Return on average equity, excluding certain items:

Net income available to common shareholders

88,437

84,395

78,162

81,042

54,884

172,832

43,360

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

792

2,933

2,752

8,993

32,434

3,726

48,242

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

46,926

Net income available to common shareholders excluding certain items

89,229

87,328

80,914

90,035

87,318

176,558

138,528

Average total shareholders' equity

4,110,881

4,086,617

4,088,456

3,898,142

3,819,513

4,098,816

3,486,668

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

8.71

8.67

7.85

9.16

9.17

8.69

8.01

Return on average tangible equity:

Net income available to common shareholders

88,437

84,395

78,162

81,042

54,884

172,832

43,360

Add: amortization of intangibles (1)

5,641

5,656

5,701

6,656

7,271

11,298

10,607

Net income available to common shareholders before amortization of intangibles

94,078

90,051

83,863

87,698

62,155

184,130

53,967

Average total shareholders' equity

4,110,881

4,086,617

4,088,456

3,898,142

3,819,513

4,098,816

3,486,668

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

(1,685,204

)

(1,691,156

)

(1,700,188

)

(1,704,105

)

(1,608,358

)

(1,688,164

)

(1,461,946

)

Average tangible equity

2,425,677

2,395,461

2,388,268

2,194,037

2,211,155

2,410,652

2,024,722

Return on average tangible equity (annualized) (2)

15.56

15.25

13.93

15.86

11.27

15.40

5.38

Average tangible common equity

2,201,490

2,171,274

2,096,528

2,015,329

2,066,671

2,186,465

1,880,238

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

17.14

16.82

15.87

17.26

12.06

16.98

5.79

Return on average tangible equity, excluding certain items:

Net income available to common shareholders

88,437

84,395

78,162

81,042

54,884

172,832

43,360

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

792

2,933

2,752

8,993

32,434

3,726

48,242

Add: amortization of intangibles (1)

5,641

5,656

5,701

6,656

7,271

11,298

10,607

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

94,870

92,984

86,615

96,691

94,589

187,856

149,135

Average total shareholders' equity

4,110,881

4,086,617

4,088,456

3,898,142

3,819,513

4,098,816

3,486,668

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

(1,685,204

)

(1,691,156

)

(1,700,188

)

(1,704,105

)

(1,608,358

)

(1,688,164

)

(1,461,946

)

Average tangible equity

2,425,677

2,395,461

2,388,268

2,194,037

2,211,155

2,410,652

2,024,722

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

15.69

15.74

14.39

17.48

17.16

15.71

14.85

Average tangible common equity

2,201,490

2,171,274

2,096,528

2,015,329

2,066,671

2,186,465

1,880,238

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

17.28

17.37

16.39

19.03

18.36

17.33

15.99

Three Months Ended

Year to Date

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

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

2026

2025

2026

2025

Efficiency ratio:

Non-interest expense

149,086

146,705

147,888

156,188

186,535

295,788

320,500

Less: amortization of intangibles

(7,141

)

(7,160

)

(7,217

)

(8,245

)

(9,204

)

(14,301

)

(13,427

)

Less: restructuring and merger-related expense

(1,003

)

(3,713

)

(3,483

)

(11,383

)

(41,056

)

(4,716

)

(61,066

)

Non-interest expense excluding restructuring and merger-related expense

140,942

135,832

137,188

136,380

136,275

276,771

246,007

Net interest income on a fully taxable equivalent basis

223,447

216,683

223,590

217,963

217,996

440,129

377,719

Non-interest income, excluding net securities gains (losses)

51,988

41,844

42,193

43,654

42,547

93,831

78,622

Net interest income on a fully taxable equivalent basis plus non-interest income

275,435

258,527

265,783

261,617

260,543

533,960

456,341

Efficiency ratio

51.17

52.54

51.62

52.13

52.30

51.83

53.91

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

Net income available to common shareholders

88,437

84,395

78,162

81,042

54,884

172,832

43,360

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

792

2,933

2,752

8,993

32,434

3,726

48,242

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:

89,229

87,328

80,914

90,035

87,318

176,558

138,528

Adjusted net income per common share - diluted, excluding certain items:

Net income per common share - diluted

0.91

0.88

0.81

0.84

0.57

1.79

0.50

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

0.01

0.03

0.10

0.34

0.04

0.56

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

0.54

Adjusted net income per common share - diluted, excluding certain items:

0.92

0.91

0.84

0.94

0.91

1.83

1.60

Period End

June 30,

March 31,

Dec. 31,

Sept. 30,

June 30,

2026

2025

Tangible book value per share:

Total shareholders' equity

4,109,685

4,070,608

4,031,913

4,116,527

3,819,220

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

(1,682,457

)

(1,688,098

)

(1,693,755

)

(1,702,916

)

(1,709,001

)

Less: preferred shareholder's equity

(224,187

)

(224,187

)

(224,187

)

(368,867

)

(144,484

)

Tangible common equity

2,203,041

2,158,323

2,113,971

2,044,744

1,965,735

Common shares outstanding

95,869,209

96,134,158

96,067,559

96,044,222

95,986,023

Tangible book value per share

22.98

22.45

22.01

21.29

20.48

Tangible common equity to tangible assets:

Total shareholders' equity

4,109,685

4,070,608

4,031,913

4,116,527

3,819,220

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

(1,682,457

)

(1,688,098

)

(1,693,755

)

(1,702,916

)

(1,709,001

)

Tangible equity

2,427,228

2,382,510

2,338,158

2,413,611

2,110,219

Less: preferred shareholders' equity

(224,187

)

(224,187

)

(224,187

)

(368,867

)

(144,484

)

Tangible common equity

2,203,041

2,158,323

2,113,971

2,044,744

1,965,735

Total assets

27,796,917

27,482,455

27,696,333

27,518,042

27,571,576

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

(1,682,457

)

(1,688,098

)

(1,693,755

)

(1,702,916

)

(1,709,001

)

Tangible assets

26,114,460

25,794,357

26,002,578

25,815,126

25,862,575

Tangible equity to tangible assets

9.29

9.24

8.99

9.35

8.16

Tangible common equity to tangible assets

8.44

8.37

8.13

7.92

7.60

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

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

ADDITIONAL NON-GAAP FINANCIAL MEASURES

Three Months Ended

Year to Date

June 30,

Mar. 31,

Dec. 31,

Sept. 30,

June 30,

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

2026

2025

2026

2025

Pre-tax, pre-provision income:

Income before provision for income taxes

117,523

111,424

114,620

103,310

70,973

228,948

61,309

Add: provision for credit losses

9,185

(897

)

3,059

2,082

3,218

8,288

72,101

Pre-tax, pre-provision income

126,708

110,527

117,679

105,392

74,191

237,236

133,410

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

Income before provision for income taxes

117,523

111,424

114,620

103,310

70,973

228,948

61,309

Add: provision for credit losses

9,185

(897

)

3,059

2,082

3,218

8,288

72,101

Add: restructuring and merger-related expenses

1,003

3,713

3,483

11,383

41,056

4,716

61,066

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

127,711

114,240

121,162

116,775

115,247

241,952

194,476

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

Income before provision for income taxes

117,523

111,424

114,620

103,310

70,973

228,948

61,309

Add: provision for credit losses

9,185

(897

)

3,059

2,082

3,218

8,288

72,101

Add: restructuring and merger-related expenses

1,003

3,713

3,483

11,383

41,056

4,716

61,066

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

127,711

114,240

121,162

116,775

115,247

241,952

194,476

Average total assets

27,514,390

27,530,620

27,481,963

27,419,726

27,304,700

27,522,460

24,459,913

Pre-tax, pre-provision return on average assets, excluding restructuring and merger-related expenses (annualized) (2)

1.86

1.68

1.75

1.69

1.77

1.60

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

Income before provision for income taxes

117,523

111,424

114,620

103,310

70,973

228,948

61,309

Add: provision for credit losses

9,185

(897

)

3,059

2,082

3,218

8,288

72,101

Add: restructuring and merger-related expenses

1,003

3,713

3,483

11,383

41,056

4,716

61,066

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

127,711

114,240

121,162

116,775

115,247

241,952

194,476

Average total shareholders' equity

4,110,881

4,086,617

4,088,456

3,898,142

3,819,513

4,098,816

3,486,668

Pre-tax, pre-provision return on average equity, excluding restructuring and merger-related expenses (annualized) (2)

12.46

11.34

11.76

11.88

12.10

11.90

11.25

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

Income before provision for income taxes

117,523

111,424

114,620

103,310

70,973

228,948

61,309

Add: provision for credit losses

9,185

(897

)

3,059

2,082

3,218

8,288

72,101

Add: amortization of intangibles

7,141

7,160

7,217

8,425

9,204

14,301

13,427

Add: restructuring and merger-related expenses

1,003

3,713

3,483

11,383

41,056

4,716

61,066

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

134,852

121,400

128,379

125,200

124,451

256,253

207,903

Average total shareholders' equity

4,110,881

4,086,617

4,088,456

3,898,142

3,819,513

4,098,816

3,486,668

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

(1,685,204

)

(1,691,156

)

(1,700,188

)

(1,704,105

)

(1,608,358

)

(1,688,164

)

(1,461,946

)

Average tangible equity

2,425,677

2,395,461

2,388,268

2,194,037

2,211,155

2,410,652

2,024,722

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

22.30

20.55

21.33

22.64

22.58

21.44

20.71

Average tangible common equity

2,201,490

2,171,274

2,096,528

2,015,329

2,066,671

2,186,465

1,880,238

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

24.57

22.68

24.29

24.65

24.15

23.63

22.30

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

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

EX-99.2

Filename: wsbc-ex99_2.htm · Sequence: 3

Second Quarter 2026 Earnings Call Presentation July 21, 2026

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 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 quarter ended March 31, 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 filed with the SEC under “Risk Factors” in Part I, Item 1A. 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. 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, such as pre-tax pre-provision income, tangible common equity/tangible assets; net income excluding after-tax restructuring and merger-related expenses and excluding after-tax day one provision for credit losses on acquired loans; efficiency ratio; return on average assets; and return on average tangible equity. 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.

Generated annualized loan growth of 8.3% over the sequential quarter and 3.5% year-over-year as organic growth across all markets more than offset higher CRE payoffs of approximately $345 million, which impacted year-over-year loan growth by 1.0% Grew commercial loan pipeline to a record $2.3 billion as of June 30, 2026, reflecting strong business development activity and growing opportunities across all markets Average loan to deposit ratio of 88.9% that provides substantial capacity to fund loan growth Increased net interest margin 4 basis points year-over-year to 3.63%, driven by lower funding costs and asset repricing Achieved record fee income levels across securities brokerage, digital banking, and service charges on deposits, as well as record levels of trust assets under management and securities account values Improved efficiency ratio more than 1 percentage point both year-over-year and quarter-over-quarter to a record low of 51.2%, primarily due to a focus on driving positive operating leverage Advanced our organic growth strategy and commercial momentum in targeted expansion markets, including Northern Virginia, Tennessee, and South Florida Positioning the Florida franchise for continued growth through planned financial center openings by the first quarter of 2027 Recently recognized as one of America’s High Growth Companies by Business Insider and one of America’s Best Companies by Time Strong Annualized Loan Growth, Top-Tier Efficiency Ratio Net Income Available to Common Shareholders and Diluted EPS(1) $89.2 million; $0.92/share Net Interest Margin +4bp YoY; +6bp QoQ Total Loan Growth +8.3% QoQ annualized +3.5% YoY or +4.5%, excluding CRE payoff headwind Total Deposit Growth +2.1% YoY Return on Average Tangible Common Equity(1) 17.3% CET1 Capital Ratio 10.7% Note: financial and operational highlights for the quarter ended June 30, 2026; EPS = earnings per share; CRE = commercial real estate; YoY = year-over-year; QoQ = quarter-over-quarter; bp = basis points; CET1 = common equity tier 1; PFC = Premier Financial Corp. (acquisition closed on 2/28/2025) (1) Non-GAAP measure – excludes certain items – please see reconciliation in appendix Q2 2026 Financial and Operational Highlights

Note: PTPP = pre-tax, pre-provision (1) Non-GAAP measure – excludes certain items – please see reconciliation in appendix (2) Excludes restructuring and merger-related expenses and/or day 1 provision for credit losses on acquired loans Key Metrics Q2 2026 Financial and Operational Highlights

Strong Annualized Loan Growth that Outpaced CRE Payoffs Note: commercial payoffs and new originations and associated yields (in charts above); C&I = Commercial & Industrial Q2 2026 Total Portfolio Loans Total loans of $19.5 billion increased $650 million, or 3.5%, YoY and $396 million, or 8.3% annualized, QoQ, driven by commercial and home equity lending CRE loan payoffs remained elevated and totaled approximately $345 million for the second quarter of 2026, consistent with the elevated quarterly levels incurred during the prior nine months, which negatively impacted YoY loan growth by approximately 1% Commercial loan pipeline a record $2.3 billion, as of 6/30/2026 45% of pipeline from loan production offices and PFC markets Florida pipeline contributed approximately $250 million C&I line utilization was approximately 38% for Q2 2026

Deposit Growth Remained Solid Note: “uninsured deposits” are approximated; “collateralized municipal deposits” are collateralized by securities Q2 2026 Total Deposits Total deposits increased $438 million, or 2.1%, YoY to $21.6 billion, driven by demand deposits, money market, and savings account growth which more than offset the intentional run-off of $352 million of higher cost certificates of deposit Despite the closure of 37 financial centers this year, deposits were down only $75 million, or 0.4%, on a sequential quarter basis reflecting the remaining $50 million of brokered deposits that paid off on April 1st and the decline in higher cost CDs Total demand deposits continued to represent 49% of total deposits Distribution: consumer 51%, business 33%, and public funds, which are separately collateralized, 16% Average loans to average deposits were 88.9%, providing continued capacity to fund loan growth

Tangible common equity to tangible assets ratio(1) = 8.44% Weighted average yield = 3.29% [vs. 3.21% last year] Weighted average duration = 4.3 Total unrealized securities losses (after-tax): Available for Sale (“AFS”) = $161MM Held to Maturity (“HTM”)(2) = $78MM Securities Represent 16% of Total Assets Note: securities chart excludes allowance for credit losses for HTM securities; weighted average yields have been calculated on a taxable-equivalent basis using the federal statutory rate of 21%; after-tax unrealized losses have been calculated using the Other Comprehensive Income (“OCI”) tax rate of ~23% (1) Non-GAAP measure – please see reconciliation in appendix (2) HTM losses not recognized in accumulated other comprehensive income Q2 2026 Total Securities

Q2 2026 NIM of 3.63% improved 4 bp YoY, primarily due to lower funding costs NIM increased 6 bp on a sequential quarter basis mainly due to asset repricing and 3 bp of accelerated mark accretion from acquired loan payoffs Deposit funding costs, including non-interest bearing deposits, were 178 bp and decreased 6 bp YoY and increased just 1 bp QoQ Period end FHLB borrowings of $1.4 billion decreased $400 million YoY but increased $375 million QoQ as loan growth outpaced deposit growth, reflecting accelerating growth in targeted expansion markets As of 6/30/2026, 89% have 2026 maturities, with an average rate of 3.90% NIM Benefited from Management of Funding Costs Q2 2026 Net Interest Margin (NIM)

Note: OREO = other real estate owned; AUM = assets under management; securities account values include annuities Record Fee Income Levels Across Multiple Categories Q2 2026 Non-Interest Income Non-interest income increased 22.0% YoY due primarily to higher net swap and valuation income, service charges on deposits, and other income Achieved record fee income levels across securities brokerage, digital banking, and service charges on deposits Gross swap fees were $2.8 million, compared to $1.4 million last year Swap fair market valuation adjustment was $0.3 million, compared to a loss of $0.7 million, in the prior year period Service charges on deposits reflect increased general spending and higher transaction volumes from our larger customer base, as well as an increase in monthly fees that took effect during June Other income included a non-recurring $4.8 million gain related to the freezing of future service for actively employed participants in the pension plan Mortgage banking income decreased YoY primarily due to more mortgage volume going into portfolio loans

Expenses Reflect Expansion Markets and Discretionary Cost Control Q2 2026 Non-Interest Expense Non-interest expense, excluding merger and restructuring charges, increased 1.8% YoY primarily due to higher salaries and wages from a full quarter of expansion market hiring offset by discretionary expense management Salaries and wages and employee benefits expense increased due to recent hiring efforts, primarily in Florida, and bonus accrual adjustments FDIC insurance expense decreased due to a lower assessment rate associated with our improved financial ratios Equipment and software, which was consistent with the last several quarters, decreased YoY due to the cost of operating two core systems in the prior year related to the PFC acquisition Amortization of intangible assets, which was consistent with the last couple quarters, decreased YoY due to the core deposit intangible asset that was created from the acquisition of PFC in the prior year Restructuring and merger-related expenses decreased from the prior year period, which included costs associated with the closing of the PFC acquisition

Strong and Consistent Asset Quality Measures 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 7/1/2026) and represent simple averages except criticized & classified loans as % of total loans and allowance for credit losses as % of total loans which are weighted averages Strong Legacy of Credit Quality Criticized & Classified Loans as % of Total Loans Non-Performing Assets as % of Total Assets Net Charge-Offs as % of Average Loans (Annualized) Allowance for Credit Losses as % of Total Loans

The allowance for credit losses on loans was $217.8 million at 6/30/2026, which provided a coverage ratio of 1.12% Excluded from the allowance for credit losses and the related coverage ratio is a remaining unaccreted discount on purchased loans from acquisitions representing 1.41% of total portfolio loans The second quarter net provision for credit losses of $9.2 million is primarily due to higher loan balances Non-Depository Financial Institution (NDFI) exposure <$55 million No direct exposure to technology and software firms or data centers and related infrastructure projects Allowance Coverage Ratio of 1.12% Q2 2026 Current Expected Credit Loss (CECL) Note: ACL at 6/30/2026 excludes off-balance sheet credit exposures of $7.7 million

Strong regulatory capital ratios significantly above both regulatory requirements and well-capitalized levels, with favorable tangible equity levels compared to peers CET1 ratio within WesBanco’s targeted range of 10.5-11.0% 0.3 million shares repurchased on the open market during Q2 2026, at an average price of $33.55 per share ~4.5 million shares available for repurchase (as of 6/30/2026)(1) Capital Ratios Above Both Regulatory and Well-Capitalized Levels Strong Capital Position Note: financial data as of quarter ending 12/31; current year data as of 6/30/2026; WSBC adopted Current Expected Credit Losses (“CECL”) accounting standard on 1/1/2020; in conjunction with the PFC acquisition, WSBC raised $200MM of common equity on 8/1/2024 to support future growth and issued $1B of common equity on the 2/28/2025 closing; on 9/10/2025, raised $230MM of Series B preferred stock to primarily redeem the Series A preferred stock and $50MM of acquired PFC sub-debt (1) Under the 4MM share repurchase authorization that was approved by WesBanco’s Board of Directors on May 20, 2026 and the remainder of the authorization approved on February 24, 2022 Common Equity Tier 1 Capital Ratio (CET 1) Tier 1 Risk-Based Capital Ratio Well-Capitalized 8.0% Required 6.0%

Appendix

Pre-Tax, Pre-Provision Income (PTPP) and Ratios Reconciliation

Net Income and Diluted Earnings per Share (EPS) Reconciliation

Tangible Book Value per Share Reconciliation

Efficiency Ratio Reconciliation

Return on Average Assets Reconciliation

Return on Average Tangible Common Equity Reconciliation

Tangible Common Equity to Tangible Assets Reconciliation

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