Improved net interest margin 22 basis points year-over-year; advanced organic growth with expansion into South Florida

WHEELING, W.Va., April 21, 2026 /PRNewswire/ -- WesBanco, Inc. ("WesBanco" or "Company") (NASDAQ:WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three months ended March 31, 2026. Net income available to common shareholders for the first quarter of 2026 was $84.4 million, with diluted earnings per share of $0.88, compared to a loss of $11.5 million and $(0.15) per diluted share, respectively, for the first quarter of 2025. The first quarter of 2025 includes 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.

As noted below, WesBanco reported $0.91 of earnings per diluted share, in the first quarter, as compared to $0.66 in the prior year period, when excluding after-tax restructuring and merger-related expenses and after-tax day one provision for credit losses on acquired loans (non-GAAP measures).

	*For the Three Months Ended March 31,*
	2026		2025
(unaudited, dollars in thousands, except per share amounts)	*Net Income*	Diluted Earnings Per Share	*Net Income*	Diluted Earnings Per Share
Net income (loss) available to common shareholders (GAAP)	$ 84,395	$ 0.88	$ (11,523)	$ (0.15)
Add: After-tax restructuring and merger-related expenses	2,933	0.03	15,808	0.21
Add: After-tax day one provision for credit losses on acquired loans	-	-	46,926	0.60
Adjusted net income available to common shareholders (Non-GAAP) ⁽¹⁾	$ 87,328	$ 0.91	$ 51,211	$ 0.66
⁽¹⁾ See non-GAAP financial measures for additional information relating to the calculation of these items.

Financial and operational highlights for the quarter ended March 31, 2026:

Achieved or exceeded year one financial targets outlined in the PFC acquisition model, including a 1.3% return on average assets, 10.7% CET1 ratio, and tangible book value per share of $22.45 (non-GAAP measures)
Advanced organic growth model with commercial banking expansion into high-growth South Florida markets
Increased net interest margin 22 basis points year-over-year to 3.57%, driven by lower funding costs and higher earning asset yields
Improved efficiency ratio nearly 4 percentage points year-over-year to 52.5%, primarily due to expense synergies from the PFC acquisition and the focus on positive operating leverage
Executed next phase of financial center optimization with planned closure of 10 financial centers in May 2026
Built record commercial loan pipeline totaling $1.6 billion as of March 31, 2026
Increased total deposits 1.8% year-over-year on an organic basis to $21.7 billion; flat compared to the fourth quarter
Increased total loans 2.2% year-over-year as organic growth more than offset higher commercial real estate ("CRE") payoffs of $340 million
- CRE payoffs impacted year-over-year loan growth by 1.4%

"Our first quarter results demonstrate sound fundamentals and the benefits of our disciplined approach to growth and expense management," said Jeff Jackson, President and Chief Executive Officer, WesBanco. "We continued to drive organic loan and deposit growth, improved our net interest margin and efficiency ratio year-over-year, and exceeded our year one financial targets for the Premier acquisition – underscoring the strength of our operating model and our ability to deliver on strategic commitments. During the quarter, we took additional steps to position the Company for long-term success – expanding our commercial banking presence to high-growth South Florida markets and further optimizing our financial center network to align with customer behavior and drive operating efficiency. We remain focused on disciplined investment and execution to deliver consistent, sustainable value for our shareholders."

Balance Sheet

WesBanco's balance sheet, as of March 31, 2026, reflects organic growth and the impact of elevated CRE payoffs. Total assets increased 0.3% year-over-year to $27.5 billion, including total portfolio loans of $19.1 billion and total securities of $4.4 billion. Total portfolio loans increased 2.2% year-over-year due to organic growth of $667 million offset by higher CRE payoffs of $258 million. As anticipated, CRE payoffs continued to remain elevated and totaled approximately $340 million during the first quarter of 2026, consistent with the elevated quarterly levels incurred during the second half of 2025. The commercial loan pipeline has grown 35% since year-end to a record $1.6 billion, as of March 31, 2026, and does not yet include the benefit of the South Florida expansion.

Deposits of $21.7 billion increased 1.8% year-over-year due to organic growth that more than offset the decline in higher cost certificates of deposit. On a sequential quarter basis, total deposits were essentially flat. Total demand deposits represented 50% of total deposits, with the non-interest bearing component representing 24%.

Credit Quality

As of March 31, 2026, credit quality measures have remained low, from a historical perspective, and favorable to all banks with assets between $20 and $50 billion for at least the last 5 quarters. Criticized and classified loans as a percent of total portfolio loans decreased $49 million, or 24 basis points, from the sequential quarter to 2.91%. Non-performing loans increased $53 million sequentially primarily due to three CRE loans across different markets and property types, none of which were office. Net charge-offs for the first quarter were 0.16% of total loans.

The allowance for credit losses to total portfolio loans at March 31, 2026 was 1.10% of total loans, or $210.0 million. The first quarter provision for credit losses was negative primarily due to lower loan balances and higher prepayment speeds. Excluded from the allowance for credit losses and the related coverage ratio is a remaining unaccreted discount on purchased loans from acquisitions representing 1.51% of total portfolio loans.

Net Interest Margin and Income

The first quarter margin of 3.57% improved 22 basis points year-over-year through a combination of lower funding costs and higher securities yields but declined 4 basis points sequentially. This decrease resulted from lower net loan growth, as well as modestly higher seasonal deposit contraction in the first two months of the quarter which fully recovered by March 31, 2026. Deposit funding costs of 235 basis points for the first quarter of 2026 decreased 20 basis points from the prior year period. When including non-interest bearing deposits, deposit funding costs for the first quarter were 177 basis points.

Net interest income for the first quarter of 2026 was $215.4 million, an increase of $56.9 million, or 35.9% year-over-year, reflecting the impact of the benefits from the PFC acquisition, loan growth, higher securities yields, and lower deposit and FHLB borrowing costs.

Non-Interest Income

For the first quarter of 2026, non-interest income of $41.8 million increased $7.2 million, or 20.7%, from the first quarter of 2025 due primarily to the acquisition of PFC on February 28 of last year. Service charges on deposits increased $2.4 million and digital banking fees increased $1.2 million year-over-year due to increased general spending and higher transaction volumes from our larger customer base, as well as organic growth from our treasury management products and services. Reflecting record asset levels, trust fees and net securities brokerage revenue increased $1.7 million and $0.8 million, respectively, due to the addition of PFC wealth clients, market value appreciation, and organic growth. Gross swap fees were $1.2 million in the first quarter, compared to $2.0 million in the prior year period, while fair value adjustments were losses of $0.1 million and $1.0 million, respectively.

Non-Interest Expense

Non-interest expense, excluding restructuring and merger-related costs, for the three months ended March 31, 2026 was $143.0 million, a $29.0 million, or 25.5%, increase year-over-year primarily due to the addition of the PFC expense base, which was only in the WesBanco expense base for one month in the prior year period, but were down as compared to the fourth quarter, reflecting expense management. Salaries and wages of $64.0 million and employee benefits expense of $17.6 million increased due to a full quarter of salaries as compared to the prior year. Amortization of intangible assets of $7.2 million increased $2.9 million year-over-year due to the core deposit intangible asset that was created from the acquisition of PFC. Equipment and software of $15.7 million, consistent with the last several quarters, increased $2.6 million due to the acquisition of PFC. Restructuring and merger-related expenses of $3.7 million are primarily related to costs associated with the 10 financial centers that are planned to close during May.

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 March 31, 2026, Tier I leverage was 9.63%, Tier I risk-based capital ratio was 11.72%, common equity Tier 1 capital ratio ("CET 1") was 10.67%, and total risk-based capital was 14.19%. In addition, the tangible common equity to tangible assets ratio was 8.37%.

Conference Call and Webcast

WesBanco will host a conference call to discuss the Company's financial results for the first quarter of 2026 at 9:00 a.m. ET on Wednesday, April 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 April 22, 2026, and end at 12 a.m. ET on May 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"), 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.

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: 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 2025 Annual Report on Form 10-K and documents subsequently filed by WesBanco with the SEC.

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 $27.5 billion in total assets, with our Trust and Investment Services holding $7.8 billion of assets under management and securities account values (including annuities) of $2.6 billion through our broker/dealer, as of March 31, 2026. 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*
Statement of Income		*March 31,*
Interest and dividend income		2026	2025	*% Change*
	Loans, including fees	$ 280,989	$ 218,409	28.7
	Interest and dividends on securities:
	Taxable	31,443	22,247	41.3
	Tax-exempt	4,824	4,529	6.5
	Total interest and dividends on securities	36,267	26,776	35.4
	Other interest income	8,368	8,047	4.0
Total interest and dividend income		325,624	253,232	28.6
Interest expense
	Interest bearing demand deposits	29,368	29,377	(0.0)
	Money market deposits	32,151	21,134	52.1
	Savings deposits	10,119	7,359	37.5
	Certificates of deposit	22,591	18,558	21.7
	Total interest expense on deposits	94,229	76,428	23.3
	Federal Home Loan Bank borrowings	11,316	13,034	(13.2)
	Other short-term borrowings	598	1,122	(46.7)
	Subordinated debt and junior subordinated debt	4,080	4,129	(1.2)
	Total interest expense	110,223	94,713	16.4
Net interest income		215,401	158,519	35.9
	Provision for credit losses	(897)	68,883	(101.3)
Net interest income after provision for credit losses		216,298	89,636	141.3
Non-interest income
	Trust fees	10,442	8,697	20.1
	Service charges on deposits	10,961	8,587	27.6
	Digital banking income	6,599	5,404	22.1
	Net swap fee and valuation income	1,062	961	10.5
	Net securities brokerage revenue	3,472	2,701	28.5
	Bank-owned life insurance	3,811	3,428	11.2
	Mortgage banking income	919	1,140	(19.4)
	Net securities losses	(13)	(318)	95.9
	Net gains/(losses) on other real estate owned and other assets	546	(40)	NM
	Other income	4,032	4,105	(1.8)
	Total non-interest income	41,831	34,665	20.7
Non-interest expense
	Salaries and wages	63,964	48,577	31.7
	Employee benefits	17,611	12,970	35.8
	Net occupancy	8,529	7,778	9.7
	Equipment and software	15,678	13,050	20.1
	Marketing	1,526	2,382	(35.9)
	FDIC insurance	4,784	4,187	14.3
	Amortization of intangible assets	7,160	4,223	69.5
	Restructuring and merger-related expense	3,713	20,010	(81.4)
	Other operating expenses	23,740	20,789	14.2
	Total non-interest expense	146,705	133,966	9.5
Income / (loss) before provision for income taxes		111,424	(9,665)	NM
	Provision / (benefit) for income taxes	22,789	(673)	NM
Net Income / (loss)		88,635	(8,992)	NM
Preferred stock dividends		4,240	2,531	67.5
Net income /(loss) available to common shareholders		$ 84,395	$ (11,523)	832.4


Taxable equivalent net interest income		$ 216,683	$ 159,723	35.7

Per common share data
Net income /(loss) per common share - basic		$ 0.88	$ (0.15)	686.7
Net income /(loss) per common share - diluted		0.88	(0.15)	686.7
Adjusted net income per common share - diluted, excluding certain items (1)(2)		0.91	0.66	37.9
Dividends declared		0.38	0.37	2.7
Book value (period end)		40.01	38.02	5.2
Tangible book value (period end) (1)		22.45	20.06	11.9
Average common shares outstanding - basic		96,103,497	76,830,460	25.1
Average common shares outstanding - diluted		96,309,352	77,020,592	25.0
Period end common shares outstanding		96,134,158	95,672,204	0.5
Period end preferred shares outstanding		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 Three Months Ended*
	*March 31,*
	2026		2025		*% Change*

Return on average assets	1.24	%	(0.22)	%	663.64	%
Return on average assets, excluding certain items (1)	1.29		0.96		34.38
Return on average equity	8.38		(1.45)		677.93
Return on average equity, excluding certain items (1)	8.67		6.45		34.42
Return on average tangible equity (1)	15.25		(1.74)		976.44
Return on average tangible equity, excluding certain items (1)	15.74		11.61		35.57
Return on average tangible common equity (1)	16.82		(1.89)		989.95
Return on average tangible common equity, excluding certain items (1)	17.37		12.56		38.30
Yield on earning assets (2)	5.38		5.33		0.94
Cost of interest bearing liabilities	2.50		2.78		(10.07)
Net interest spread (2)	2.88		2.55		12.94
Net interest margin (2)	3.57		3.35		6.57
Efficiency (1) (2)	52.54		56.36		(6.78)
Average loans to average deposits	89.05		89.32		(0.30)
Annualized net loan charge-offs/average loans	0.16		0.08		100.00
Effective income tax rate	20.45		(6.96)		393.82




	*For the Three Months Ended*
	*Mar. 31,*		*Dec. 31,*		*Sept. 30,*		*June 30,*		*Mar. 31,*
	2026		2025		2025		2025		2025

Return on average assets	1.24	%	1.13	%	1.17	%	0.81	%	(0.22)	%
Return on average assets, excluding certain items (1)	1.29		1.17		1.30		1.28		0.96
Return on average equity	8.38		7.58		8.25		5.76		(1.45)
Return on average equity, excluding certain items (1)	8.67		7.85		9.16		9.17		6.45
Return on average tangible equity (1)	15.25		13.93		15.86		11.27		(1.74)
Return on average tangible equity, excluding certain items (1)	15.74		14.39		17.48		17.16		11.61
Return on average tangible common equity (1)	16.82		15.87		17.26		12.06		(1.89)
Return on average tangible common equity, excluding certain items (1)	17.37		16.39		19.03		18.36		12.56
Yield on earning assets (2)	5.38		5.51		5.58		5.56		5.33
Cost of interest bearing liabilities	2.50		2.62		2.79		2.69		2.78
Net interest spread (2)	2.88		2.88		2.79		2.87		2.55
Net interest margin (2)	3.57		3.61		3.53		3.59		3.35
Efficiency (1) (2)	52.54		51.62		52.13		52.30		56.36
Average loans to average deposits	89.05		88.78		89.41		89.47		89.32
Annualized net loan charge-offs and recoveries /average loans	0.16		0.06		0.19		0.09		0.08
Effective income tax rate	20.45		20.51		19.10		19.10		(6.96)
Trust and Investment Services assets under management (3)	$ 7,810		$ 7,886		$ 7,688		$ 7,205		$ 6,951
Broker-dealer securities account values (including annuities) (3)	$ 2,574		$ 2,481		$ 2,588		$ 2,554		$ 2,359

(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		*March 31,*			*December 31,*	*March 31, 2026*
Assets		2026	2025	*% Change*	2025	*to Dec. 31, 2025*
Cash and due from banks		$ 214,453	$ 245,897	(12.8)	$ 204,860	4.7
Due from banks - interest bearing		745,957	845,818	(11.8)	751,249	(0.7)
Securities:
	Equity securities, at fair value	30,256	28,217	7.2	30,809	(1.8)
	Available-for-sale debt securities, at fair value	3,298,237	3,149,043	4.7	3,288,332	0.3
	Held-to-maturity debt securities (fair values of $1,011,303, $1,002,796
	and $1,035,957, respectively)	1,120,597	1,143,376	(2.0)	1,132,114	(1.0)
	Allowance for credit losses, held-to-maturity debt securities	(151)	(137)	(10.2)	(168)	10.1
	Net held-to-maturity debt securities	1,120,446	1,143,239	(2.0)	1,131,946	(1.0)
	Total securities	4,448,939	4,320,499	3.0	4,451,087	(0.0)
Loans held for sale		59,281	243,281	(75.6)	87,454	(32.2)
Portfolio loans:
	Commercial real estate	10,902,275	10,501,846	3.8	10,938,834	(0.3)
	Commercial and industrial	2,785,440	2,781,728	0.1	2,863,893	(2.7)
	Residential real estate	3,920,209	3,930,667	(0.3)	3,938,585	(0.5)
	Home equity	1,149,878	1,020,929	12.6	1,129,394	1.8
	Consumer	324,879	438,578	(25.9)	355,726	(8.7)
Total portfolio loans, net of unearned income		19,082,681	18,673,748	2.2	19,226,432	(0.7)
Allowance for credit losses - loans		(210,023)	(233,617)	10.1	(218,749)	4.0
	Net portfolio loans	18,872,658	18,440,131	2.3	19,007,683	(0.7)
Premises and equipment, net		251,325	281,493	(10.7)	263,240	(4.5)
Accrued interest receivable		105,288	108,778	(3.2)	106,651	(1.3)
Goodwill and other intangible assets, net		1,716,225	1,754,703	(2.2)	1,723,385	(0.4)
Bank-owned life insurance		560,773	548,601	2.2	557,512	0.6
Other assets		507,556	623,182	(18.6)	543,212	(6.6)
Total Assets		$ 27,482,455	$ 27,412,383	0.3	$ 27,696,333	(0.8)

Liabilities
Deposits:
	Non-interest bearing demand	$ 5,223,034	$ 5,318,619	(1.8)	$ 5,376,767	(2.9)
	Interest bearing demand	5,505,382	5,000,881	10.1	5,186,880	6.1
	Money market	4,904,510	4,875,384	0.6	5,072,039	(3.3)
	Savings deposits	3,306,044	3,068,618	7.7	3,157,782	4.7
	Certificates of deposit	2,729,304	3,028,893	(9.9)	2,875,372	(5.1)
	Total deposits	21,668,274	21,292,395	1.8	21,668,840	(0.0)
Federal Home Loan Bank borrowings		975,000	1,476,511	(34.0)	1,200,000	(18.8)
Other short-term borrowings		114,068	147,804	(22.8)	110,679	3.1
Subordinated debt and junior subordinated debt		308,683	360,156	(14.3)	308,529	0.0
	Total borrowings	1,397,751	1,984,471	(29.6)	1,619,208	(13.7)
Accrued interest payable		19,917	26,570	(25.0)	19,150	4.0
Other liabilities		325,905	327,368	(0.4)	357,222	(8.8)
Total Liabilities		23,411,847	23,630,804	(0.9)	23,664,420	(1.1)

Shareholders' Equity
Preferred stock, no par value; 1,000,000 shares authorized; 0, 150,000 and 0
	shares of 6.75% non-cumulative perpetual preferred stock, Series A, liquidation
	preference $150.0 million, issued and outstanding, respectively	-	144,484	(100.0)	-	(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, 200,000,000 and 200,000,000
	shares authorized; 96,134,158, 95,672,204 and 96,067,559 shares issued;
	96,134,158, 95,672,204 and 96,067,559 shares outstanding, respectively	200,276	199,313	0.5	200,137	0.1
Capital surplus		2,495,091	2,485,223	0.4	2,490,440	0.2
Retained earnings		1,300,628	1,145,396	13.6	1,252,765	3.8
Accumulated other comprehensive loss		(147,195)	(190,710)	22.8	(133,320)	(10.4)
Deferred benefits for directors		(2,379)	(2,127)	(11.8)	(2,296)	(3.6)
Total Shareholders' Equity		4,070,608	3,781,579	7.6	4,031,913	1.0
Total Liabilities and Shareholders' Equity		$ 27,482,455	$ 27,412,383	0.3	$ 27,696,333	(0.8)

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 March 31,

2026

2025

Average

Assets

Balance

Rate

Balance

Rate

Due from banks - interest bearing

$ 745,711

3.91

$ 602,708

4.73

Loans, net of unearned income (1)

19,188,906

5.94

14,720,749

6.02

Securities: (2)

Taxable

3,904,167

3.27

3,237,372

2.79

Tax-exempt (3)

739,469

3.35

733,105

3.17

Total securities

4,643,636

3.28

3,970,477

2.86

Other earning assets

62,274

7.69

61,393

6.69

Total earning assets (3)

24,640,527

5.38

19,355,327

5.33

Other assets

2,890,093

2,303,025

Total Assets

$ 27,530,620

$ 21,658,352

Liabilities and Shareholders' Equity

Interest bearing demand deposits

$ 5,327,178

2.24

$ 4,166,005

2.86

Money market accounts

4,901,058

2.66

3,219,335

2.66

Savings deposits

3,237,453

1.27

2,605,145

1.15

Certificates of deposit

2,827,655

3.24

2,185,662

3.44

Total interest bearing deposits

16,293,344

2.35

12,176,147

2.55

Federal Home Loan Bank borrowings

1,155,278

3.97

1,168,981

4.52

Repurchase agreements

107,383

2.26

162,912

2.79

Subordinated debt and junior subordinated debt

308,585

5.36

305,309

5.48

Total interest bearing liabilities (4)

17,864,590

2.50

13,813,349

2.78

Non-interest bearing demand deposits

5,255,480

4,303,915

Other liabilities

323,933

322,449

Shareholders' equity

4,086,617

3,218,639

Total Liabilities and Shareholders' Equity

$ 27,530,620

$ 21,658,352

Taxable equivalent net interest spread

2.88

2.55

Taxable equivalent net interest margin

3.57

3.35

(1) Gross of allowance for credit losses, net of unearned income and includes non-accrual and loans held for sale. Loan fees included in interest income on loans were $1.8

million and $1.6 million for the three months ended March 31, 2026 and 2025, respectively. Additionally, loan accretion included in interest income on loans acquired from

prior acquisitions was $13.3 million and $6.9 million for the three months ended March 31, 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 $0.3 million and $2.3 million for the three months ended March 31, 2026 and 2025, respectively.

WESBANCO, INC.
Consolidated Selected Financial Highlights								Page 9
(unaudited, dollars in thousands, except shares and per share amounts)
				*Quarter Ended*
Statement of Income				*Mar. 31,*	*Dec. 31,*	*Sept. 30,*	*June 30,*	*Mar. 31,*
Interest and dividend income				2026	2025	2025	2025	2025
	Loans, including fees			$ 280,989	$ 293,208	$ 295,482	$ 290,104	$ 218,409
	Interest and dividends on securities:
		Taxable		31,443	31,546	31,483	31,066	22,247
		Tax-exempt		4,824	4,865	4,692	4,616	4,529
			Total interest and dividends on securities	36,267	36,411	36,175	35,682	26,776
	Other interest income			8,368	9,821	11,229	10,596	8,047
Total interest and dividend income				325,624	339,440	342,886	336,382	253,232
Interest expense
	Interest bearing demand deposits			29,368	29,821	31,351	30,405	29,377
	Money market deposits			32,151	36,166	38,249	36,287	21,134
	Savings deposits			10,119	9,570	9,577	8,670	7,359
	Certificates of deposit			22,591	24,235	23,554	21,442	18,558
			Total interest expense on deposits	94,229	99,792	102,731	96,804	76,428
	Federal Home Loan Bank borrowings			11,316	11,378	17,337	16,683	13,034
	Other short-term borrowings			598	730	766	816	1,122
	Subordinated debt and junior subordinated debt			4,080	5,243	5,336	5,310	4,129
			Total interest expense	110,223	117,143	126,170	119,613	94,713
Net interest income				215,401	222,297	216,716	216,769	158,519
	Provision for credit losses			(897)	3,059	2,082	3,218	68,883
Net interest income after provision for credit losses				216,298	219,238	214,634	213,551	89,636
Non-interest income
	Trust fees			10,442	9,745	8,987	9,657	8,697
	Service charges on deposits			10,961	11,159	11,163	10,484	8,587
	Digital banking income			6,599	6,422	7,324	7,325	5,404
	Net swap fee and valuation income			1,062	3,959	3,231	746	961
	Net securities brokerage revenue			3,472	2,836	2,961	3,348	2,701
	Bank-owned life insurance			3,811	4,458	3,765	3,450	3,428
	Mortgage banking income			919	791	1,898	2,364	1,140
	Net securities (losses) / gains			(13)	1,077	1,210	1,410	(318)
	Net gains / (losses) on other real estate owned and other assets			546	(824)	329	111	(40)
	Other income			4,032	3,647	3,996	5,062	4,105
			Total non-interest income	41,831	43,270	44,864	43,957	34,665
Non-interest expense
	Salaries and wages			63,964	61,664	60,583	60,153	48,577
	Employee benefits			17,611	17,148	18,040	18,857	12,970
	Net occupancy			8,529	8,522	8,819	8,119	7,778
	Equipment and software			15,678	16,110	16,310	17,140	13,050
	Marketing			1,526	2,636	2,979	1,864	2,382
	FDIC insurance			4,784	5,411	5,820	5,479	4,187
	Amortization of intangible assets			7,160	7,217	8,425	9,204	4,223
	Restructuring and merger-related expense			3,713	3,483	11,383	41,056	20,010
	Other operating expenses			23,740	25,697	23,829	24,663	20,789
			Total non-interest expense	146,705	147,888	156,188	186,535	133,966
Income / (loss) before provision for income taxes				111,424	114,620	103,310	70,973	(9,665)
	Provision / (benefit) provision for income taxes			22,789	23,510	19,737	13,558	(673)
Net Income /(loss)				88,635	91,110	83,573	57,415	(8,992)
Preferred stock dividends				4,240	12,948	2,531	2,531	2,531
Net income / (loss) available to common shareholders				$ 84,395	$ 78,162	$ 81,042	$ 54,884	$ (11,523)

Taxable equivalent net interest income				$ 216,683	$ 223,590	$ 217,963	$ 217,996	$ 159,723

Per common share data
Net income / (loss) per common share - basic				$ 0.88	$ 0.81	$ 0.84	$ 0.57	$ (0.15)
Net income / (loss) per common share - diluted				0.88	0.81	0.84	0.57	(0.15)
Adjusted net income per common share - diluted, excluding certain items (1)(2)				0.91	0.84	0.94	0.91	0.66
Dividends declared				0.38	0.38	0.37	0.37	0.37
Book value (period end)				40.01	39.64	39.02	38.28	38.02
Tangible book value (period end) (1)				22.45	22.01	21.29	20.48	20.06
Average common shares outstanding - basic				96,103,497	96,053,336	95,995,174	95,744,980	76,830,460
Average common shares outstanding - diluted				96,309,352	96,226,845	96,116,617	95,808,310	77,020,592
Period end common shares outstanding				96,134,158	96,067,559	96,044,222	95,986,023	95,672,204
Period end preferred shares outstanding				230,000	230,000	380,000	150,000	150,000
Full time equivalent employees				2,973	3,030	3,064	3,253	3,205

(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*
		*Mar. 31,*		*Dec. 31,*		*Sept. 30,*		*June 30,*		*Mar. 31,*
Asset quality data		2026		2025		2025		2025		2025
Non-performing assets:
	Total non-performing loans	$ 145,008		$ 91,584		$ 94,463		$ 84,319		$ 81,489
	Other real estate and repossessed assets	1,323		907		997		958		1,854
	Total non-performing assets	$ 146,331		$ 92,491		$ 95,460		$ 85,277		$ 83,343

Past due loans (1):
	Loans past due 30-89 days	$ 89,877		$ 91,199		$ 80,333		$ 65,401		$ 69,755
	Loans past due 90 days or more	16,210		37,783		19,430		20,890		10,734
	Total past due loans	$ 106,087		$ 128,982		$ 99,763		$ 86,291		$ 80,489

Criticized and classified loans (2):
	Criticized loans	$ 326,853		$ 413,068		$ 433,320		$ 531,415		$ 470,619
	Classified loans	228,606		191,860		175,648		151,849		149,452
	Total criticized and classified loans	$ 555,459		$ 604,928		$ 608,968		$ 683,264		$ 620,071

Loans past due 30-89 days / total portfolio loans		0.47	%	0.47	%	0.42	%	0.35	%	0.37	%
Loans past due 90 days or more / total portfolio loans		0.08		0.20		0.10		0.11		0.06
Non-performing loans / total portfolio loans		0.76		0.48		0.50		0.45		0.44
Non-performing assets / total portfolio loans, other
	real estate and repossessed assets	0.77		0.48		0.50		0.45		0.45
Non-performing assets / total assets		0.53		0.33		0.35		0.31		0.30
Criticized and classified loans / total portfolio loans		2.91		3.15		3.22		3.63		3.32

Allowance for credit losses
Allowance for credit losses - loans		$ 210,023		$ 218,749		$ 217,666		$ 223,866		$ 233,617
Allowance for credit losses - loan commitments		7,212		6,950		7,628		6,168		6,459
Provision for credit losses		(897)		3,059		2,082		3,218		68,883
Net loan and deposit account overdraft charge-offs and recoveries		7,584		2,666		8,867		4,329		2,771

Annualized net loan charge-offs and recoveries / average loans		0.16	%	0.06	%	0.19	%	0.09	%	0.08	%
Allowance for credit losses - loans / total portfolio loans		1.10	%	1.14	%	1.15	%	1.19	%	1.25	%
Allowance for credit losses - loans / non-performing loans		1.45	x	2.39	x	2.30	x	2.65	x	2.87	x
Allowance for credit losses - loans / non-performing loans and
	loans past due	0.84	x	0.99	x	1.12	x	1.31	x	1.44	x



		*Mar. 31,*		Dec. 31,		Sept. 30,		June 30,		Mar. 31,
		2026		2025		2025		2025		2025
Capital ratios
Tier I leverage capital		9.63	%	9.42	%	9.72	%	8.66	%	11.01	%
Tier I risk-based capital		11.72		11.42		11.83		10.59		10.69
Total risk-based capital		14.19		13.92		14.58		13.40		13.59
Common equity tier 1 capital ratio (CET 1)		10.67		10.37		10.10		9.90		9.99
Average shareholders' equity to average assets		14.84		14.88		14.22		13.99		14.86
Tangible equity to tangible assets (3)		9.24		8.99		9.35		8.16		8.03
Tangible common equity to tangible assets (3)		8.37		8.13		7.92		7.60		7.47


(1) Excludes non-performing loans.
(2) Criticized and classified commercial loans 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*
		*Mar. 31,*	*Dec. 31,*	*Sept. 30,*	*June 30,*	*Mar. 31,*
(unaudited, dollars in thousands, except shares and per share amounts)		2026	2025	2025	2025	2025
Return on average assets, excluding certain items:
	Net income / (loss) available to common shareholders	$ 84,395	$ 78,162	$ 81,042	$ 54,884	$ (11,523)
	Plus: after-tax restructuring and merger-related expenses (1)	2,933	2,752	8,993	32,434	15,808
	Plus: after-tax day one provision for credit losses on acquired loans (1)	-	-	-	-	46,926
	Net income available to common shareholders, excluding certain items	87,328	80,914	90,035	87,318	51,211

	Average total assets	$ 27,530,620	$ 27,481,963	$ 27,419,726	$ 27,304,700	$ 21,658,352

Return on average assets, excluding certain items (annualized) (2)		1.29 %	1.17 %	1.30 %	1.28 %	0.96 %

Return on average equity, excluding certain items:
	Net income / (loss) available to common shareholders	$ 84,395	$ 78,162	$ 81,042	$ 54,884	$ (11,523)
	Plus: after-tax restructuring and merger-related expenses (1)	2,933	2,752	8,993	32,434	15,808
	Plus: after-tax day one provision for credit losses on acquired loans (1)	-	-	-	-	46,926
	Net income available to common shareholders excluding certain items	87,328	80,914	90,035	87,318	51,211

	Average total shareholders' equity	$ 4,086,617	$ 4,088,456	$ 3,898,142	$ 3,819,513	$ 3,218,639

Return on average equity, excluding certain items (annualized) (2)		8.67 %	7.85 %	9.16 %	9.17 %	6.45 %

Return on average tangible equity:
	Net income / (loss) available to common shareholders	$ 84,395	$ 78,162	$ 81,042	$ 54,884	$ (11,523)
	Plus: amortization of intangibles (1)	5,656	5,701	6,656	7,271	3,336
	Net income / (loss) available to common shareholders before amortization of intangibles	90,051	83,863	87,698	62,155	(8,187)

	Average total shareholders' equity	4,086,617	4,088,456	3,898,142	3,819,513	3,218,639
	Less: average goodwill and other intangibles, net of def. tax liability	(1,691,156)	(1,700,188)	(1,704,105)	(1,608,358)	(1,312,855)
	Average tangible equity	$ 2,395,461	$ 2,388,268	$ 2,194,037	$ 2,211,155	$ 1,905,784

Return on average tangible equity (annualized) (2)		15.25 %	13.93 %	15.86 %	11.27 %	-1.74 %

	Average tangible common equity	$ 2,171,274	$ 2,096,528	$ 2,015,329	$ 2,066,671	$ 1,761,300
Return on average tangible common equity (annualized) (2)		16.82 %	15.87 %	17.26 %	12.06 %	-1.89 %

Return on average tangible equity, excluding certain items:
	Net income / (loss) available to common shareholders	$ 84,395	$ 78,162	$ 81,042	$ 54,884	$ (11,523)
	Plus: after-tax restructuring and merger-related expenses (1)	2,933	2,752	8,993	32,434	15,808
	Plus: amortization of intangibles (1)	5,656	5,701	6,656	7,271	3,336
	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	92,984	86,615	96,691	94,589	54,547

	Average total shareholders' equity	4,086,617	4,088,456	3,898,142	3,819,513	3,218,639
	Less: average goodwill and other intangibles, net of def. tax liability	(1,691,156)	(1,700,188)	(1,704,105)	(1,608,358)	(1,312,855)
	Average tangible equity	$ 2,395,461	$ 2,388,268	$ 2,194,037	$ 2,211,155	$ 1,905,784

Return on average tangible equity, excluding certain items (annualized) (2)		15.74 %	14.39 %	17.48 %	17.16 %	11.61 %

	Average tangible common equity	$ 2,171,274	$ 2,096,528	$ 2,015,329	$ 2,066,671	$ 1,761,300
Return on average tangible common equity, excluding certain items (annualized) (2)		17.37 %	16.39 %	19.03 %	18.36 %	12.56 %

Efficiency ratio:
	Non-interest expense	$ 146,705	$ 147,888	$ 156,188	$ 186,535	$ 133,966
	Less: amortization of intangibles	(7,160)	(7,217)	(8,245)	(9,204)	(4,223)
	Less: restructuring and merger-related expense	(3,713)	(3,483)	(11,383)	(41,056)	(20,010)
	Non-interest expense excluding restructuring and merger-related expense	135,832	137,188	136,380	136,275	109,733

	Net interest income on a fully taxable equivalent basis	216,683	223,590	217,963	217,996	159,723
	Non-interest income, excluding net securities gains (losses)	41,844	42,193	43,654	42,547	34,983
	Net interest income on a fully taxable equivalent basis plus non-interest income	$ 258,527	$ 265,783	$ 261,617	$ 260,543	$ 194,706
	Efficiency ratio	52.54 %	51.62 %	52.13 %	52.30 %	56.36 %


Adjusted net income available to common shareholders, excluding certain items:
	Net income / (loss) available to common shareholders	$ 84,395	$ 78,162	$ 81,042	$ 54,884	$ (11,523)
	Add: after-tax restructuring and merger-related expenses (1)	2,933	2,752	8,993	32,434	15,808
	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:		$ 87,328	$ 80,914	$ 90,035	$ 87,318	$ 51,211

Adjusted net income per common share - diluted, excluding certain items:
	Net income / (loss) per common share - diluted	$ 0.88	$ 0.81	$ 0.84	$ 0.57	$ (0.15)
	Add: after-tax restructuring and merger-related expenses per common share - diluted (1)	0.03	0.03	0.10	0.34	0.21
	Add: after-tax day one provision for credit losses on acquired loans (1)	-	-	-	-	0.60
Adjusted net income per common share - diluted, excluding certain items:		$ 0.91	$ 0.84	$ 0.94	$ 0.91	$ 0.66


		*Period End*
		*Mar. 31,*	*Dec. 31,*	*Sept. 30,*	*June 30,*	*Mar. 31,*
		2026	2025	2025	2025	2025
Tangible book value per share:
	Total shareholders' equity	$ 4,070,608	$ 4,031,913	$ 4,116,527	$ 3,819,220	$ 3,781,579
	Less: goodwill and other intangible assets, net of def. tax liability	(1,688,098)	(1,693,755)	(1,702,916)	(1,709,001)	(1,718,048)
	Less: preferred shareholder's equity	(224,187)	(224,187)	(368,867)	(144,484)	(144,484)
	Tangible common equity	2,158,323	2,113,971	2,044,744	1,965,735	1,919,047

	Common shares outstanding	96,134,158	96,067,559	96,044,222	95,986,023	95,672,204

Tangible book value per share		$ 22.45	$ 22.01	$ 21.29	$ 20.48	$ 20.06

Tangible common equity to tangible assets:
	Total shareholders' equity	$ 4,070,608	$ 4,031,913	$ 4,116,527	$ 3,819,220	$ 3,781,579
	Less: goodwill and other intangible assets, net of def. tax liability	(1,688,098)	(1,693,755)	(1,702,916)	(1,709,001)	(1,718,048)
	Tangible equity	2,382,510	2,338,158	2,413,611	2,110,219	2,063,531
	Less: preferred shareholder's equity	(224,187)	(224,187)	(368,867)	(144,484)	(144,484)
	Tangible common equity	2,158,323	2,113,971	2,044,744	1,965,735	1,919,047

	Total assets	27,482,455	27,696,333	27,518,042	27,571,576	27,412,383
	Less: goodwill and other intangible assets, net of def. tax liability	(1,688,098)	(1,693,755)	(1,702,916)	(1,709,001)	(1,718,048)
	Tangible assets	$ 25,794,357	$ 26,002,578	$ 25,815,126	$ 25,862,575	$ 25,694,335

Tangible equity to tangible assets		9.24 %	8.99 %	9.35 %	8.16 %	8.03 %

Tangible common equity to tangible assets		8.37 %	8.13 %	7.92 %	7.

WesBanco Announces First Quarter 2026 Financial Results