WesBanco Announces Fourth Quarter 2025 Financial Results

Solid loan growth fully funded by deposit growth; net interest margin of 3.61% improved 58 basis points year-over-year

WHEELING, W.Va., Jan. 27, 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 months ended December 31, 2025. Net income available to common shareholders for the fourth quarter of 2025 was $78.2 million, with diluted earnings per share of $0.81, compared to $47.1 million and $0.70 per diluted share, respectively, for the fourth quarter of 2024. The fourth quarter of 2025 included dividends and redemption premium totaling $8.0 million, or $0.08 per share, related to the Series A preferred stock, which was redeemed on November 15, 2025. For the twelve months ended December 31, 2025, net income was $202.6 million, or $2.23 per diluted share, which reflected the impact of a day one provision for credit losses and other expenses related to the closing of the Premier Financial Corp. ("PFC") acquisition on February 28, 2025, compared to $141.4 million, or $2.26 per diluted share, for the 2024 period.

As noted below, WesBanco reported $0.84 of earnings per diluted share, in the fourth quarter, as compared to $0.71 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 $3.40 per diluted share, for the twelve month period, which was a 45.3% increase compared to $2.34 per diluted share last year (non-GAAP measures).

For the Three Months Ended December 31,

For the Twelve Months Ended December 31,

2025

2024

2025

2024

(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)

$ 78,162

$ 0.81

$ 47,098

$ 0.70

$ 202,564

$ 2.23

$ 141,385

$ 2.26

Add: After-tax restructuring and merger-related expenses

2,752

0.03

510

0.01

59,987

0.66

5,056

0.08

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

46,926

0.51

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

$ 80,914

$ 0.84

$ 47,608

$ 0.71

$ 309,477

$ 3.40

$ 146,441

$ 2.34

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

Financial and operational highlights during the quarter ended December 31, 2025:

"2025 was another year of disciplined growth and strong execution for WesBanco as we continued our transformation into a regional financial services partner through our successful acquisition and integration of Premier Financial and its customers," said Jeff Jackson, President and Chief Executive Officer. "We delivered strong total and organic loan growth fully funded by deposits, strengthened our balance sheet, and improved our net interest margin. We achieved record levels of fee income and wealth management assets, while our focus on cost control drove our efficiency ratio into the low 50 percent range. Together, these underscore the strength of our organic growth-oriented business model and position us well to continue delivering value for our customers and stakeholders."

Balance Sheet

WesBanco's balance sheet, as of December 31, 2025, reflects both the PFC acquisition and organic growth. Total assets increased 48.2% year-over-year to $27.7 billion, including total portfolio loans of $19.2 billion and total securities of $4.5 billion. Total portfolio loans increased 51.9% year-over-year due to acquired PFC loans of $5.9 billion and organic growth of $657 million, driven by the commercial teams. CRE payoffs have continued to increase and totaled approximately $415 million during the fourth quarter of 2025 and $905 million for the year, more than 2.5 times the prior year-to-date period.

Deposits of $21.7 billion increased 53.3% year-over-year due to acquired PFC deposits of $6.9 billion and organic growth of $662 million, which fully funded year-over-year organic loan growth. On a sequential quarter basis, total deposits increased $385 million, also fully funding quarter-over-quarter loan growth, due to the efforts of our consumer and business teams more than offsetting the intentional runoff of $55 million of higher cost certificates of deposit. Reflecting the addition of PFC deposits, which included $1.3 billion of certificates of deposit, total demand deposits represented 49% of total deposits, with the non-interest bearing component representing 25%.

Credit Quality

As of December 31, 2025, criticized and classified loans, non-performing loans, and non-performing assets as percentages of the loan portfolio and total assets have remained low, from a historical perspective, and within a consistent range through the last five years. As expected, criticized and classified loans as a percent of total portfolio loans decreased 7 basis points from the sequential quarter to 3.15%. Net charge-offs for the fourth quarter were 0.06% of total loans.

The allowance for credit losses to total portfolio loans at December 31, 2025 was 1.14% of total loans, or $218.7 million. Excluded from the allowance for credit losses and related coverage ratio are fair market value adjustments on previously acquired loans representing 1.57% of total portfolio loans.

Net Interest Margin and Income

The fourth quarter margin of 3.61% improved 58 basis points year-over-year through a combination of higher loan and securities yields and lower funding costs, and improved 8 basis points sequentially. Deposit funding costs of 245 basis points for the fourth quarter of 2025 decreased 26 basis points from the prior year period. When including non-interest bearing deposits, deposit funding costs for the fourth quarter were 184 basis points.

Net interest income for the fourth quarter of 2025 was $222.3 million, an increase of $95.8 million, or 75.7% year-over-year, reflecting the impact of the benefits from the PFC acquisition, loan growth, higher loan and securities yields, and lower deposit and FHLB borrowing costs. For the twelve months ended December 31, 2025, net interest income of $814.3 million increased $336.1 million, or 70.3%, primarily due to the reasons discussed for the three-month period comparison.

Non-Interest Income

For the fourth quarter of 2025, non-interest income of $43.3 million increased $6.9 million, or 18.9%, from the fourth quarter of 2024 due primarily to the acquisition of PFC. Service charges on deposits increased $3.0 million year-over-year, reflecting the addition of PFC, fee income from new products and services and treasury management, and increased general consumer spending. Digital banking fees increased $1.3 million from higher volumes primarily associated with our larger customer base. Reflecting record asset levels, trust fees and net securities brokerage revenue increased $2.0 million and $0.4 million, respectively, due to the addition of PFC wealth clients, market value appreciation, and organic growth. Bank-owned life insurance increased $1.9 million year-over-year due to the addition of PFC. Other income decreased $2.0 million due to a $2.3 million gain in the prior year from the transfer of certain liabilities for future pension payments to a third-party insurance company. Gross swap fees were $3.4 million in the fourth quarter, compared to $1.3 million in the prior year period, while fair value adjustments were $0.5 million as compared to $1.9 million, respectively.

Primarily reflecting the items discussed above, as well as mortgage banking income, non-interest income, for the twelve months ended December 31, 2025, increased $38.8 million, or 30.3%, year-over-year to $166.8 million. Mortgage Banking income increased due to an approximate 43% year-over-year increase in residential mortgage originations primarily related to our larger customer base.

Non-Interest Expense

Non-interest expense, excluding restructuring and merger-related costs, for the three months ended December 31, 2025 was $144.4 million, a $43.9 million, or 43.7%, increase year-over-year primarily due to the addition of the PFC expense base associated with approximately 900 employees and 70 financial centers, but were down slightly as compared to the third quarter, reflecting expense management. Salaries and wages of $61.7 million and employee benefits expense of $17.1 million increased due to higher staffing levels and higher health insurance costs. Amortization of intangible assets of $7.2 million increased $5.2 million year-over-year due to the core deposit intangible asset that was created from the acquisition of PFC. Restructuring and merger-related expenses of $3.5 million are primarily related to costs associated with the financial center optimization.

Excluding restructuring and merger-related expenses, non-interest expense during the first twelve months of 2025 of $548.6 million increased $153.2 million, or 38.7%, compared to the prior year period, due primarily to the expenses described above. Equipment and software expense of $62.6 million reflects the addition of PFC and the additional cost of operating two core systems until the conversion to one platform in mid-May. FDIC insurance expense of $20.9 million increased due to our larger asset size.

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 December 31, 2025, Tier I leverage was 9.42%, Tier I risk-based capital ratio was 11.38%, common equity Tier 1 capital ratio ("CET 1") was 10.34%, and total risk-based capital was 13.88%. In addition, the tangible common equity to tangible assets ratio was 8.13%.

Fourth quarter 2025 preferred stock dividends totaled $12.9 million, reflecting the $2.5 million dividend and $5.5 million redemption premium on the Series A preferred stock, which was redeemed on November 15 th, and a $4.9 million dividend on the new Series B preferred stock.

Conference Call and Webcast

WesBanco will host a conference call to discuss the Company's financial results for the fourth quarter of 2025 at 9:00 a.m. ET on Wednesday, January 28, 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 6442178. The replay will begin at approximately 11:00 a.m. ET on January 28, 2026, and end at 12 a.m. ET on February 11, 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, 2024 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, June 30 and September 30, 2025, 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, the expected cost savings and any revenue synergies from the merger of WesBanco and Premier may not be fully realized within the expected timeframes; disruption from the merger of WesBanco and Premier may make it more difficult to maintain relationships with clients, associates, or suppliers; the effects of changing regional and national economic conditions, 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.

Statements in this presentation with respect to the benefits of the merger between WesBanco and Premier, the parties' plans, obligations, expectations, and intentions, and the statements with respect to accretion, earn back of tangible book value, tangible book value dilution and internal rate of return, constitute forward-looking statements as defined by federal securities laws. Such statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: the expected cost savings and any revenue synergies from the merger may not be fully realized within the expected time frames; disruption from the merger may make it more difficult to maintain relationships with clients, associates, or suppliers; changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of other business strategies; the nature, extent, and timing of governmental actions and reforms; extended disruption of vital infrastructure; and other factors described in WesBanco's 2024 Annual Report on Form 10-K and documents subsequently filed by WesBanco with the Securities and Exchange Commission.

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 nine-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 $27.7 billion in total assets, with our Trust and Investment Services holding $7.9 billion of assets under management and securities account values (including annuities) of $2.5 billion through our broker/dealer, as of December 31, 2025. Learn more at www.wesbanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram.

WESBANCO, INC.

Consolidated Selected Financial Highlights

Page 5

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

For the Three Months Ended

For the Twelve Months Ended

Statement of Income

December 31,

Interest and dividend income

2025

2024

% Change

2025

2024

% Change

Loans, including fees

$ 293,208

$ 183,251

60.0

$ 1,097,203

$ 709,802

54.6

Interest and dividends on securities:

Taxable

31,546

18,575

69.8

116,342

70,559

64.9

Tax-exempt

4,865

4,449

9.4

18,702

18,089

3.4

Total interest and dividends on securities

36,411

23,024

58.1

135,044

88,648

52.3

Other interest income

9,821

7,310

34.4

39,693

27,191

46.0

Total interest and dividend income

339,440

213,585

58.9

1,271,940

825,641

54.1

Interest expense

Interest bearing demand deposits

29,821

27,044

10.3

120,953

107,700

12.3

Money market deposits

36,166

18,734

93.1

131,839

72,899

80.9

Savings deposits

9,570

7,271

31.6

35,176

31,066

13.2

Certificates of deposit

24,235

16,723

44.9

87,788

53,236

64.9

Total interest expense on deposits

99,792

69,772

43.0

375,756

264,901

41.8

Federal Home Loan Bank borrowings

11,378

12,114

(6.1)

58,434

62,489

(6.5)

Other short-term borrowings

730

1,291

(43.5)

3,433

3,953

(13.2)

Subordinated debt and junior subordinated debt

5,243

3,902

34.4

20,017

16,090

24.4

Total interest expense

117,143

87,079

34.5

457,640

347,433

31.7

Net interest income

222,297

126,506

75.7

814,300

478,208

70.3

Provision for credit losses

3,059

(147)

77,242

19,206

302.2

Net interest income after provision for credit losses

219,238

126,653

73.1

737,058

459,002

60.6

Non-interest income

Trust fees

9,745

7,775

25.3

37,087

30,676

20.9

Service charges on deposits

11,159

8,138

37.1

41,392

29,979

38.1

Digital banking income

6,422

5,125

25.3

26,475

19,953

32.7

Net swap fee and valuation income

3,959

3,230

22.6

8,896

5,941

49.7

Net securities brokerage revenue

2,836

2,430

16.7

11,846

10,238

15.7

Bank-owned life insurance

4,458

2,512

77.5

15,101

9,544

58.2

Mortgage banking income

791

1,229

(35.6)

6,194

4,270

45.1

Net securities gains

1,077

3,379

1,408

140.0

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

(824)

193

(526.9)

(424)

142

(398.6)

Other income

3,647

5,695

(36.0)

16,809

15,832

6.2

Total non-interest income

43,270

36,388

18.9

166,755

127,983

30.3

Non-interest expense

Salaries and wages

61,664

45,638

35.1

230,977

177,516

30.1

Employee benefits

17,148

11,856

44.6

67,015

46,141

45.2

Net occupancy

8,522

5,999

42.1

33,237

25,157

32.1

Equipment and software

16,110

10,681

50.8

62,612

41,303

51.6

Marketing

2,636

2,531

4.1

9,861

9,764

1.0

FDIC insurance

5,411

3,640

48.7

20,897

14,215

47.0

Amortization of intangible assets

7,217

2,034

254.8

29,070

8,251

252.3

Restructuring and merger-related expense

3,483

646

439.2

75,933

6,400

Other operating expenses

25,697

18,079

42.1

94,973

73,124

29.9

Total non-interest expense

147,888

101,104

46.3

624,575

401,871

55.4

Income before provision for income taxes

114,620

61,937

85.1

279,238

185,114

50.8

Provision for income taxes

23,510

12,308

91.0

56,133

33,604

67.0

Net Income

91,110

49,629

83.6

223,105

151,510

47.3

Preferred stock dividends

12,948

2,531

411.6

20,541

10,125

102.9

Net income available to common shareholders

$ 78,162

$ 47,098

66.0

$ 202,564

$ 141,385

43.3

Taxable equivalent net interest income

$ 223,590

$ 127,689

75.1

$ 819,271

$ 483,016

69.6

Per common share data

Net income per common share - basic

$ 0.81

$ 0.70

15.7

$ 2.23

$ 2.26

(1.3)

Net income per common share - diluted

0.81

0.70

15.7

2.23

2.26

(1.3)

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

0.84

0.71

18.3

3.40

2.34

45.3

Dividends declared

0.38

0.37

2.7

1.49

1.45

2.8

Book value (period end)

39.64

39.54

0.3

39.64

39.54

0.3

Tangible book value (period end) (1)

22.01

22.83

(3.6)

22.01

22.83

(3.6)

Average common shares outstanding - basic

96,053,336

66,895,834

43.6

90,896,991

62,589,406

45.2

Average common shares outstanding - diluted

96,226,845

66,992,009

43.6

91,034,094

62,653,557

45.3

Period end common shares outstanding

96,067,559

66,919,805

43.6

96,067,559

66,919,805

43.6

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

Page 6

(unaudited, dollars in thousands, unless otherwise noted)

Selected ratios

For the Twelve Months Ended

December 31,

2025

2024

% Change

Return on average assets

0.78

Return on average assets, excluding certain items (1)

1.19

0.81

46.91

Return on average equity

5.41

5.33

1.50

Return on average equity, excluding certain items (1)

8.27

5.52

49.82

Return on average tangible equity (1)

10.45

9.66

8.18

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

15.40

9.99

54.15

Return on average tangible common equity (1)

11.46

10.66

7.50

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

16.89

11.03

53.13

Yield on earning assets (2)

5.50

5.10

7.84

Cost of interest bearing liabilities

2.72

3.07

(11.40)

Net interest spread (2)

2.78

2.03

36.95

Net interest margin (2)

3.53

2.96

19.26

Efficiency (1) (2)

52.87

63.52

(16.77)

Average loans to average deposits

89.24

89.48

(0.27)

Annualized net loan charge-offs/average loans

0.10

0.11

(9.09)

Effective income tax rate

20.10

18.15

10.74

For the Three Months Ended

Dec. 31,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

2025

2024

Return on average assets

1.13

1.17

0.81

(0.22)

1.01

Return on average assets, excluding certain items (1)

1.17

1.30

1.28

0.96

1.02

Return on average equity

7.58

8.25

5.76

(1.45)

6.68

Return on average equity, excluding certain items (1)

7.85

9.16

9.17

6.45

6.75

Return on average tangible equity (1)

13.93

15.86

11.27

(1.74)

11.49

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

14.39

17.48

17.16

11.61

Return on average tangible common equity (1)

15.87

17.26

12.06

(1.89)

12.56

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

16.39

19.03

18.36

12.56

12.69

Yield on earning assets (2)

5.51

5.58

5.56

5.33

5.10

Cost of interest bearing liabilities

2.62

2.79

2.69

2.78

2.96

Net interest spread (2)

2.88

2.79

2.87

2.55

2.14

Net interest margin (2)

3.61

3.53

3.59

3.35

3.03

Efficiency (1) (2)

51.62

52.13

52.30

56.36

60.01

Average loans to average deposits

88.78

89.41

89.47

89.32

89.24

Annualized net loan charge-offs and recoveries /average loans

0.06

0.19

0.09

0.08

0.13

Effective income tax rate

20.51

19.10

(6.96)

19.87

Trust and Investment Services assets under management (3)

$ 7,886

$ 7,688

$ 7,205

$ 6,951

$ 5,968

Broker-dealer securities account values (including annuities) (3)

$ 2,481

$ 2,588

$ 2,554

$ 2,359

$ 1,852

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

(2) 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.

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

WESBANCO, INC.

Consolidated Selected Financial Highlights

Page 7

(unaudited, dollars in thousands, except shares)

% Change

Balance sheet

December 31,

September 30,

September 30, 2025

Assets

2025

2024

% Change

2025

to Dec. 31, 2025

Cash and due from banks

$ 204,860

$ 142,271

44.0

$ 231,814

(11.6)

Due from banks - interest bearing

751,249

425,866

76.4

776,423

(3.2)

Securities:

Equity securities, at fair value

30,809

13,427

129.5

30,374

1.4

Available-for-sale debt securities, at fair value

3,288,332

2,246,072

46.4

3,268,016

0.6

Held-to-maturity debt securities (fair values of $1,035,957, $1,006,817

and $1,042,503, respectively)

1,132,114

1,152,906

(1.8)

1,150,520

(1.6)

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

(168)

(146)

(15.1)

(181)

7.2

Net held-to-maturity debt securities

1,131,946

1,152,760

(1.8)

1,150,339

(1.6)

Total securities

4,451,087

3,412,259

30.4

4,448,729

0.1

Loans held for sale

87,454

18,695

367.8

125,971

(30.6)

Portfolio loans:

Commercial real estate

10,938,834

7,326,681

49.3

10,755,370

1.7

Commercial and industrial

2,863,893

1,787,277

60.2

2,771,906

3.3

Residential real estate

3,938,585

2,520,086

56.3

3,928,469

0.3

Home equity

1,129,394

821,110

37.5

1,091,636

3.5

Consumer

355,726

201,275

76.7

384,693

(7.5)

Total portfolio loans, net of unearned income

19,226,432

12,656,429

51.9

18,932,074

1.6

Allowance for credit losses - loans

(218,749)

(138,766)

(57.6)

(217,666)

(0.5)

Net portfolio loans

19,007,683

12,517,663

51.8

18,714,408

1.6

Premises and equipment, net

263,240

219,076

20.2

267,521

(1.6)

Accrued interest receivable

106,651

78,324

36.2

108,865

(2.0)

Goodwill and other intangible assets, net

1,723,385

1,124,016

53.3

1,736,073

(0.7)

Bank-owned life insurance

557,512

360,738

54.5

555,104

0.4

Other assets

543,212

385,390

41.0

553,134

(1.8)

Total Assets

$ 27,696,333

$ 18,684,298

48.2

$ 27,518,042

0.6

Liabilities

Deposits:

Non-interest bearing demand

$ 5,376,767

$ 3,842,758

39.9

$ 5,285,740

1.7

Interest bearing demand

5,186,880

3,771,314

37.5

5,025,216

3.2

Money market

5,072,039

2,429,977

108.7

4,901,863

3.5

Savings deposits

3,157,782

2,362,736

33.6

3,141,075

0.5

Certificates of deposit

2,875,372

1,726,932

66.5

2,930,368

(1.9)

Total deposits

21,668,840

14,133,717

53.3

21,284,262

1.8

Federal Home Loan Bank borrowings

1,200,000

1,000,000

20.0

1,275,000

(5.9)

Other short-term borrowings

110,679

192,073

(42.4)

113,501

(2.5)

Subordinated debt and junior subordinated debt

308,529

279,308

10.5

358,373

(13.9)

Total borrowings

1,619,208

1,471,381

10.0

1,746,874

(7.3)

Accrued interest payable

19,150

14,228

34.6

25,472

(24.8)

Other liabilities

357,222

274,691

30.0

344,907

3.6

Total Liabilities

23,664,420

15,894,017

48.9

23,401,515

1.1

Shareholders' Equity

Preferred stock, no par value; 1,000,000 shares authorized; 0, 150,000 and 150,000

shares of 6.75% non-cumulative perpetual preferred stock, Series A, liquidation

preference $150.0 million, issued and outstanding, respectively

144,484

(100.0)

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

224,383

(0.1)

Common stock, $2.0833 par value; 200,000,000, 200,000,000 and 200,000,000

shares authorized; 96,067,559, 75,354,034 and 96,044,222 shares issued;

96,067,559, 66,919,805 and 96,044,222 shares outstanding, respectively

200,137

156,985

27.5

200,088

0.0

Capital surplus

2,490,440

1,809,679

37.6

2,487,564

0.1

Retained earnings

1,252,765

1,192,091

5.1

1,210,823

3.5

Treasury stock (0, 8,434,229 and 0 shares - at cost, respectively)

(292,244)

(100.0)

Accumulated other comprehensive loss

(133,320)

(218,632)

39.0

(148,669)

10.3

Deferred benefits for directors

(2,296)

(2,082)

(10.3)

(2,146)

(7.0)

Total Shareholders' Equity

4,031,913

2,790,281

44.5

4,116,527

(2.1)

Total Liabilities and Shareholders' Equity

$ 27,696,333

$ 18,684,298

48.2

$ 27,518,042

0.6

WESBANCO, INC.

Consolidated Selected Financial Highlights

Page 8

(unaudited, dollars in thousands)

Average balance sheet and

net interest margin analysis

For the Three Months Ended December 31,

For the Twelve Months Ended December 31,

2025

2024

2025

2024

Average

Assets

Balance

Rate

Balance

Rate

Balance

Rate

Balance

Rate

Due from banks - interest bearing

$ 762,245

4.26

$ 474,933

5.05

$ 719,247

4.66

$ 409,900

5.48

Loans, net of unearned income (1)

19,100,442

6.09

12,565,244

5.80

17,943,698

6.11

12,185,386

5.83

Securities: (2)

Taxable

3,875,915

3.23

2,924,539

2.53

3,729,244

3.12

2,894,993

2.44

Tax-exempt (3)

749,388

3.26

734,929

3.05

736,998

3.21

748,304

3.06

Total securities

4,625,303

3.23

3,659,468

2.63

4,466,242

3.13

3,643,297

2.57

Other earning assets

57,695

11.28

51,208

9.99

70,891

8.70

57,845

8.20

Total earning assets (3)

24,545,685

5.51

16,750,853

5.10

23,200,078

5.50

16,296,428

5.10

Other assets

2,936,278

1,842,412

2,767,592

1,826,197

Total Assets

$ 27,481,963

$ 18,593,265

$ 25,967,670

$ 18,122,625

Liabilities and Shareholders' Equity

Interest bearing demand deposits

$ 5,082,842

2.33

$ 3,763,465

2.86

$ 4,779,261

2.53

$ 3,604,463

2.99

Money market accounts

5,052,312

2.84

2,427,005

3.07

4,506,303

2.93

2,259,882

3.23

Savings deposits

3,144,470

1.21

2,365,805

1.22

3,008,218

1.17

2,422,859

1.28

Certificates of deposit

2,907,019

3.31

1,704,878

3.90

2,748,131

3.19

1,467,738

3.63

Total interest bearing deposits

16,186,643

2.45

10,261,153

2.71

15,041,913

2.50

9,754,942

2.72

Federal Home Loan Bank borrowings

1,047,826

4.31

972,283

4.96

1,325,871

4.41

1,164,344

5.37

Repurchase agreements

115,255

2.51

179,052

2.87

126,726

2.71

125,534

3.15

Subordinated debt and junior subordinated debt

357,353

5.82

279,277

5.56

344,691

5.81

279,189

5.76

Total interest bearing liabilities (4)

17,707,077

2.62

11,691,765

2.96

16,839,201

2.72

11,324,009

3.07

Non-interest bearing demand deposits

5,328,423

3,819,593

5,064,560

3,863,366

Other liabilities

358,007

275,828

321,844

282,076

Shareholders' equity

4,088,456

2,806,079

3,742,065

2,653,174

Total Liabilities and Shareholders' Equity

$ 27,481,963

$ 18,593,265

$ 25,967,670

$ 18,122,625

Taxable equivalent net interest spread

2.88

2.14

2.78

2.03

Taxable equivalent net interest margin

3.61

3.03

3.53

2.96

(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 $1.5 million and $1.1 million for the three months ended December 31, 2025 and 2024, respectively, and were $7.0 million and $2.9 million for the twelve months ended December 31, 2025 and 2024, respectively. Additionally, loan accretion included in interest income on loans acquired from prior acquisitions was $16.0 million and $0.8 million for the three months ended December 31, 2025 and 2024, respectively, and $55.3 million and $3.1 million for the twelve months ended December 31, 2025 and 2024, 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 $0.8 million for the three months ended December 31, 2025, and $10.3 million and $0.2 million for the twelve months ended December 31, 2025 and 2024, respectively. There was no accretion on interest bearing liabilities recorded for the three months ended December 31, 2024.

WESBANCO, INC.

Consolidated Selected Financial Highlights

Page 9

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

Quarter Ended

Statement of Income

Dec. 31,

Sept. 30,

June 30,

March 31,

Dec. 31,

Interest and dividend income

2025

2024

Loans, including fees

$ 293,208

$ 295,482

$ 290,104

$ 218,409

$ 183,251

Interest and dividends on securities:

Taxable

31,546

31,483

31,066

22,247

18,575

Tax-exempt

4,865

4,692

4,616

4,529

4,449

Total interest and dividends on securities

36,411

36,175

35,682

26,776

23,024

Other interest income

9,821

11,229

10,596

8,047

7,310

Total interest and dividend income

339,440

342,886

336,382

253,232

213,585

Interest expense

Interest bearing demand deposits

29,821

31,351

30,405

29,377

27,044

Money market deposits

36,166

38,249

36,287

21,134

18,734

Savings deposits

9,570

9,577

8,670

7,359

7,271

Certificates of deposit

24,235

23,554

21,442

18,558

16,723

Total interest expense on deposits

99,792

102,731

96,804

76,428

69,772

Federal Home Loan Bank borrowings

11,378

17,337

16,683

13,034

12,114

Other short-term borrowings

730

766

816

1,122

1,291

Subordinated debt and junior subordinated debt

5,243

5,336

5,310

4,129

3,902

Total interest expense

117,143

126,170

119,613

94,713

87,079

Net interest income

222,297

216,716

216,769

158,519

126,506

Provision for credit losses

3,059

2,082

3,218

68,883

(147)

Net interest income after provision for credit losses

219,238

214,634

213,551

89,636

126,653

Non-interest income

Trust fees

9,745

8,987

9,657

8,697

7,775

Service charges on deposits

11,159

11,163

10,484

8,587

8,138

Digital banking income

6,422

7,324

7,325

5,404

5,125

Net swap fee and valuation income

3,959

3,231

746

961

3,230

Net securities brokerage revenue

2,836

2,961

3,348

2,701

2,430

Bank-owned life insurance

4,458

3,765

3,450

3,428

2,512

Mortgage banking income

791

1,898

2,364

1,140

1,229

Net securities gains / (losses)

1,077

1,210

1,410

(318)

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

(824)

329

111

(40)

193

Other income

3,647

3,996

5,062

4,105

5,695

Total non-interest income

43,270

44,864

43,957

34,665

36,388

Non-interest expense

Salaries and wages

61,664

60,583

60,153

48,577

45,638

Employee benefits

17,148

18,040

18,857

12,970

11,856

Net occupancy

8,522

8,819

8,119

7,778

5,999

Equipment and software

16,110

16,310

17,140

13,050

10,681

Marketing

2,636

2,979

1,864

2,382

2,531

FDIC insurance

5,411

5,820

5,479

4,187

3,640

Amortization of intangible assets

7,217

8,425

9,204

4,223

2,034

Restructuring and merger-related expense

3,483

11,383

41,056

20,010

646

Other operating expenses

25,697

23,829

24,663

20,789

18,079

Total non-interest expense

147,888

156,188

186,535

133,966

101,104

Income / (loss) before provision for income taxes

114,620

103,310

70,973

(9,665)

61,937

Provision / (benefit) provision for income taxes

23,510

19,737

13,558

(673)

12,308

Net Income /(loss)

91,110

83,573

57,415

(8,992)

49,629

Preferred stock dividends

12,948

2,531

Net income / (loss) available to common shareholders

$ 78,162

$ 81,042

$ 54,884

$ (11,523)

$ 47,098

Taxable equivalent net interest income

$ 223,590

$ 217,963

$ 217,996

$ 159,723

$ 127,689

Per common share data

Net income / (loss) per common share - basic

$ 0.81

$ 0.84

$ 0.57

$ (0.15)

$ 0.70

Net income / (loss) per common share - diluted

0.81

0.84

0.57

(0.15)

0.70

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

0.84

0.94

0.91

0.66

0.71

Dividends declared

0.38

0.37

Book value (period end)

39.64

39.02

38.28

38.02

39.54

Tangible book value (period end) (1)

22.01

21.29

20.48

20.06

22.83

Average common shares outstanding - basic

96,053,336

95,995,174

95,744,980

76,830,460

66,895,834

Average common shares outstanding - diluted

96,226,845

96,116,617

95,808,310

77,020,592

66,992,009

Period end common shares outstanding

96,067,559

96,044,222

95,986,023

95,672,204

66,919,805

Period end preferred shares outstanding

230,000

380,000

150,000

Full time equivalent employees

3,030

3,064

3,253

3,205

2,262

(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

Page 10

(unaudited, dollars in thousands)

Quarter Ended

Dec. 31,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

Asset quality data

2025

2024

Non-performing assets:

Total non-performing loans

$ 91,584

$ 94,463

$ 84,319

$ 81,489

$ 39,752

Other real estate and repossessed assets

907

997

958

1,854

852

Total non-performing assets

$ 92,491

$ 95,460

$ 85,277

$ 83,343

$ 40,604

Past due loans (1):

Loans past due 30-89 days

$ 91,199

$ 80,333

$ 65,401

$ 69,755

$ 45,926

Loans past due 90 days or more

37,783

19,430

20,890

10,734

13,553

Total past due loans

$ 128,982

$ 99,763

$ 86,291

$ 80,489

$ 59,479

Criticized and classified loans (2):

Criticized loans

$ 413,068

$ 433,320

$ 531,415

$ 470,619

$ 242,000

Classified loans

191,860

175,648

151,849

149,452

112,669

Total criticized and classified loans

$ 604,928

$ 608,968

$ 683,264

$ 620,071

$ 354,669

Loans past due 30-89 days / total portfolio loans

0.47

0.42

0.35

0.37

0.36

Loans past due 90 days or more / total portfolio loans

0.20

0.10

0.11

0.06

0.11

Non-performing loans / total portfolio loans

0.48

0.50

0.45

0.44

0.31

Non-performing assets / total portfolio loans, other

real estate and repossessed assets

0.48

0.50

0.45

0.32

Non-performing assets / total assets

0.33

0.35

0.31

0.30

0.22

Criticized and classified loans / total portfolio loans

3.15

3.22

3.63

3.32

2.80

Allowance for credit losses

Allowance for credit losses - loans

$ 218,749

$ 217,666

$ 223,866

$ 233,617

$ 138,766

Allowance for credit losses - loan commitments

6,950

7,628

6,168

6,459

6,120

Provision for credit losses

3,059

2,082

3,218

68,883

(147)

Net loan and deposit account overdraft charge-offs and recoveries

2,666

8,867

4,329

2,771

4,066

Annualized net loan charge-offs and recoveries / average loans

0.06

0.19

0.09

0.08

0.13

Allowance for credit losses - loans / total portfolio loans

1.14

1.15

1.19

1.25

1.10

Allowance for credit losses - loans / non-performing loans

2.39

2.30

2.65

2.87

3.49

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

loans past due

0.99

1.12

1.31

1.44

1.40

Dec. 31,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

2025

2024

Capital ratios

Tier I leverage capital

9.42

9.72

8.66

11.01

10.68

Tier I risk-based capital

11.38

11.83

10.59

10.69

13.06

Total risk-based capital

13.88

14.58

13.40

13.59

15.88

Common equity tier 1 capital ratio (CET 1)

10.34

10.10

9.90

9.99

12.07

Average shareholders' equity to average assets

14.88

14.22

13.99

14.86

15.09

Tangible equity to tangible assets (3)

8.99

9.35

8.16

8.03

9.52

Tangible common equity to tangible assets (3)

8.13

7.92

7.60

7.47

8.70

(1) Excludes non-performing loans.

(2) Criticized and classified commercial loans may include loans that are also reported as non-performing or past due.

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

WESBANCO, INC.

Non-GAAP Financial Measures

Page 11

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

Dec. 31,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

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

2025

2024

2025

2024

Return on average assets, excluding certain items:

Net income / (loss) available to common shareholders

$ 78,162

$ 81,042

$ 54,884

$ (11,523)

$ 47,098

$ 202,564

$ 141,385

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

2,752

8,993

32,434

15,808

510

59,987

5,056

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

46,926

Net income available to common shareholders, excluding certain items

80,914

90,035

87,318

51,211

47,608

309,477

146,441

Average total assets

$ 27,481,963

$ 27,419,726

$ 27,304,700

$ 21,658,352

$ 18,593,265

$ 25,967,670

$ 18,122,625

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

1.17 %

1.30 %

1.28 %

0.96 %

1.02 %

1.19 %

0.81 %

Return on average equity, excluding certain items:

Net income / (loss) available to common shareholders

$ 78,162

$ 81,042

$ 54,884

$ (11,523)

$ 47,098

$ 202,564

$ 141,385

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

2,752

8,993

32,434

15,808

510

59,987

5,056

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

46,926

Net income available to common shareholders excluding certain items

80,914

90,035

87,318

51,211

47,608

309,477

146,441

Average total shareholders' equity

$ 4,088,456

$ 3,898,142

$ 3,819,513

$ 3,218,639

$ 2,806,079

$ 3,742,065

$ 2,653,174

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

7.85 %

9.16 %

9.17 %

6.45 %

6.75 %

8.27 %

5.52 %

Return on average tangible equity:

Net income / (loss) available to common shareholders

$ 78,162

$ 81,042

$ 54,884

$ (11,523)

$ 47,098

$ 202,564

$ 141,385

Plus: amortization of intangibles (1)

5,701

6,656

7,271

3,336

1,607

22,965

6,518

Net income / (loss) available to common shareholders before amortization of intangibles

83,863

87,698

62,155

(8,187)

48,705

225,529

147,903

Average total shareholders' equity

4,088,456

3,898,142

3,819,513

3,218,639

2,806,079

3,742,065

2,653,174

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

(1,700,188)

(1,704,105)

(1,608,358)

(1,312,855)

(1,119,060)

(1,583,033)

(1,121,472)

Average tangible equity

$ 2,388,268

$ 2,194,037

$ 2,211,155

$ 1,905,784

$ 1,687,019

$ 2,159,032

$ 1,531,702

Return on average tangible equity (annualized) (2)

13.93 %

15.86 %

11.27 %

-1.74 %

11.49 %

10.45 %

9.66 %

Average tangible common equity

$ 2,096,528

$ 2,015,329

$ 2,066,671

$ 1,761,300

$ 1,542,535

$ 1,968,805

$ 1,387,218

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

15.87 %

17.26 %

12.06 %

-1.89 %

12.56 %

11.46 %

10.66 %

Return on average tangible equity, excluding certain items:

Net income / (loss) available to common shareholders

$ 78,162

$ 81,042

$ 54,884

$ (11,523)

$ 47,098

$ 202,564

$ 141,385

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

2,752

8,993

32,434

15,808

510

59,987

5,056

Plus: amortization of intangibles (1)

5,701

6,656

7,271

3,336

1,607

22,965

6,518

Plus: 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

86,615

96,691

94,589

54,547

49,215

332,442

152,959

Average total shareholders' equity

4,088,456

3,898,142

3,819,513

3,218,639

2,806,079

3,742,065

2,653,174

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

(1,700,188)

(1,704,105)

(1,608,358)

(1,312,855)

(1,119,060)

(1,583,033)

(1,121,472)

Average tangible equity

$ 2,388,268

$ 2,194,037

$ 2,211,155

$ 1,905,784

$ 1,687,019

$ 2,159,032

$ 1,531,702

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

14.39 %

17.48 %

17.16 %

11.61 %

15.40 %

9.99 %

Average tangible common equity

$ 2,096,528

$ 2,015,329

$ 2,066,671

$ 1,761,300

$ 1,542,535

$ 1,968,805

$ 1,387,218

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

16.39 %

19.03 %

18.36 %

12.56 %

12.69 %

16.89 %

11.03 %

Efficiency ratio:

Non-interest expense

$ 147,888

$ 156,188

$ 186,535

$ 133,966

$ 101,104

$ 624,575

$ 401,871

Less: amortization of intangibles

(7,217)

(8,425)

(9,204)

(4,223)

(2,034)

(29,070)

(8,251)

Less: restructuring and merger-related expense

(3,483)

(11,383)

(41,056)

(20,010)

(646)

(75,933)

(6,400)

Non-interest expense excluding restructuring and merger-related expense

137,188

136,380

136,275

109,733

98,424

519,572

387,220

Net interest income on a fully taxable equivalent basis

223,590

217,963

217,996

159,723

127,689

819,271

483,016

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

42,193

43,654

42,547

34,983

36,327

163,376

126,575

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

$ 265,783

$ 261,617

$ 260,543

$ 194,706

$ 164,016

$ 982,647

$ 609,591

Efficiency ratio

51.62 %

52.13 %

52.30 %

56.36 %

60.01 %

52.87 %

63.52 %

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

Net income / (loss) available to common shareholders

$ 78,162

$ 81,042

$ 54,884

$ (11,523)

$ 47,098

$ 202,564

$ 141,385

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

2,752

8,993

32,434

15,808

510

59,987

5,056

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:

$ 80,914

$ 90,035

$ 87,318

$ 51,211

$ 47,608

$ 309,477

$ 146,441

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

Net income / (loss) per common share - diluted

$ 0.81

$ 0.84

$ 0.57

$ (0.15)

$ 0.70

$ 2.23

$ 2.26

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

0.03

0.10

0.34

0.21

0.01

0.66

0.08

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

0.60

0.51

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

$ 0.84

$ 0.94

$ 0.91

$ 0.66

$ 0.71

$ 3.40

$ 2.34

Period End

Dec. 31,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

2025

2024

Tangible book value per share:

Total shareholders' equity

$ 4,031,913

$ 4,116,527

$ 3,819,220

$ 3,781,579

$ 2,790,281

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

(1,693,755)

(1,702,916)

(1,709,001)

(1,718,048)

(1,118,293)

Less: preferred shareholder's equity

(224,187)

(368,867)

(144,484)

Tangible common equity

2,113,971

2,044,744

1,965,735

1,919,047

1,527,504

Common shares outstanding

96,067,559

96,044,222

95,986,023

95,672,204

66,919,805

Tangible book value per share

$ 22.01

$ 21.29

$ 20.48

$ 20.06

$ 22.83

Tangible common equity to tangible assets:

Total shareholders' equity

$ 4,031,913

$ 4,116,527

$ 3,819,220

$ 3,781,579

$ 2,790,281

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

(1,693,755)

(1,702,916)

(1,709,001)

(1,718,048)

(1,118,293)

Tangible equity

2,338,158

2,413,611

2,110,219

2,063,531

1,671,988

Less: preferred shareholder's equity

(224,187)

(368,867)

(144,484)

Tangible common equity

2,113,971

2,044,744

1,965,735

1,919,047

1,527,504

Total assets

27,696,333

27,518,042

27,571,576

27,412,383

18,684,298

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

(1,693,755)

(1,702,916)

(1,709,001)

(1,718,048)

(1,118,293)

Tangible assets

$ 26,002,578

$ 25,815,126

$ 25,862,575

$ 25,694,335

$ 17,566,005

Tangible equity to tangible assets

8.99 %

9.35 %

8.16 %

8.03 %

9.52 %

Tangible common equity to tangible assets

8.13 %

7.92 %

7.60 %

7.47 %

8.70 %

(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.

Additional Non-GAAP Financial Measures

Page 12

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

Dec. 31,

Sept. 30,

June 30,

Mar. 31,

Dec. 31,

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

2025

2024

2025

2024

Pre-tax, pre-provision income:

Income / (loss) before provision / (benefit) for income taxes

$ 114,620

$ 103,310

$ 70,973

$ (9,665)

$ 61,937

$ 279,238

$ 185,114

Add: provision for credit losses

3,059

2,082

3,218

68,883

(147)

77,242

19,206

Pre-tax, pre-provision income

$ 117,679

$ 105,392

$ 74,191

$ 59,218

$ 61,790

$ 356,480

$ 204,320

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

Income / (loss) before provision / (benefit) for income taxes

$ 114,620

$ 103,310

$ 70,973

$ (9,665)

$ 61,937

$ 279,238

$ 185,114

Add: provision for credit losses

3,059

2,082

3,218

68,883

(147)

77,242

19,206

Add: restructuring and merger-related expenses

3,483

11,383

41,056

20,010

646

75,933

6,400

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

$ 121,162

$ 116,775

$ 115,247

$ 79,228

$ 62,436

$ 432,413

$ 210,720

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

Income / (loss) before provision / (benefit) for income taxes

$ 114,620

$ 103,310

$ 70,973

$ (9,665)

$ 61,937

$ 279,238

$ 185,114

Add: provision for credit losses

3,059

2,082

3,218

68,883

(147)

77,242

19,206

Add: restructuring and merger-related expenses

3,483

11,383

41,056

20,010

646

75,933

6,400

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

121,162

116,775

115,247

79,228

62,436

432,413

210,720

Average total assets

$ 27,481,963

$ 27,419,726

$ 27,304,700

$ 21,658,352

$ 18,593,265

$ 25,967,670

$ 18,122,625

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

1.75 %

1.69 %

1.48 %

1.34 %

1.67 %

1.16 %

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

Income / (loss) before provision / (benefit) for income taxes

$ 114,620

$ 103,310

$ 70,973

$ (9,665)

$ 61,937

$ 279,238

$ 185,114

Add: provision for credit losses

3,059

2,082

3,218

68,883

(147)

77,242

19,206

Add: restructuring and merger-related expenses

3,483

11,383

41,056

20,010

646

75,933

6,400

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

121,162

116,775

115,247

79,228

62,436

432,413

210,720

Average total shareholders' equity

$ 4,088,456

$ 3,898,142

$ 3,819,513

$ 3,218,639

$ 2,806,079

$ 3,742,065

$ 2,653,174

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

11.76 %

11.88 %

12.10 %

9.98 %

8.85 %

11.56 %

7.94 %

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

Income / (loss) before provision / (benefit) for income taxes

$ 114,620

$ 103,310

$ 70,973

$ (9,665)

$ 61,937

$ 279,238

$ 185,114

Add: provision for credit losses

3,059

2,082

3,218

68,883

(147)

77,242

19,206

Add: amortization of intangibles

7,217

8,425

9,204

4,223

2,034

29,070

8,251

Add: restructuring and merger-related expenses

3,483

11,383

41,056

20,010

646

75,933

6,400

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

128,379

125,200

124,451

83,451

64,470

461,483

218,971

Average total shareholders' equity

4,088,456

3,898,142

3,819,513

3,218,639

2,806,079

3,742,065

2,653,174

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

(1,700,188)

(1,704,105)

(1,608,358)

(1,312,855)

(1,119,060)

(1,583,033)

(1,121,472)

Average tangible equity

$ 2,388,268

$ 2,194,037

$ 2,211,155

$ 1,905,784

$ 1,687,019

$ 2,159,032

$ 1,531,702

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

21.33 %

22.64 %

22.58 %

17.76 %

15.20 %

21.37 %

14.30 %

Average tangible common equity

$ 2,096,528

$ 2,015,329

$ 2,066,671

$ 1,761,300

$ 1,542,535

$ 1,968,805

$ 1,387,218

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

24.29 %

24.65 %

24.15 %

19.22 %

16.63 %

23.44 %

15.78 %

(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.

SOURCE WesBanco, Inc.