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Mar 31, 2021
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.
WesBanco
WesBanco
Forward Guidance
WesBanco did not provide specific forward guidance in its earnings report.