WesBanco Q1 2021 Earnings Report

WesBanco's financial performance improved significantly, driven by strong net income growth and effective expense management.

Key Takeaways

WesBanco reported a strong first quarter with net income available to common shareholders of $70.6 million, or $1.05 per diluted share. Excluding after-tax restructuring and merger-related expenses, net income was $71.3 million, or $1.06 per diluted share. The company saw growth in pre-tax, pre-provision income and continued expense management, with an efficiency ratio of 56.71%.

Net income available to common shareholders increased to $70.6 million, or $1.05 per diluted share.

Pre-tax, pre-provision income, excluding restructuring and merger-related expenses, rose by 3.6% year-over-year to $64.2 million.

Efficiency ratio improved to 56.71% due to continued expense management.

Total loan growth was 3.4% year-over-year, driven by participation in the SBA PPP.