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Mar 31, 2020
WesBanco Q1 2020 Earnings Report
WesBanco's financial performance declined due to macroeconomic deterioration and merger-related expenses.
Key Takeaways
WesBanco reported a decrease in net income and diluted earnings per share for the first quarter of 2020, compared to the same period in 2019. The results were impacted by merger-related expenses and a significant deterioration in the macroeconomic forecast due to the COVID-19 pandemic.
Net income was $23.4 million, or $0.35 per diluted share, compared to $40.3 million, or $0.74 per diluted share, in Q1 2019.
Net income excluding after-tax merger-related expenses was $27.5 million, or $0.41 per diluted share, compared to $42.8 million, or $0.78 per diluted share, in Q1 2019.
Successfully completed signage and systems conversion of Old Line Bancshares in February.
Portfolio loans increased 35.0% year-over-year due to the OLBK acquisition.
Revenue by Segment
Forward Guidance
WesBanco did not provide specific forward guidance in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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