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Mar 31, 2023
WesBanco Q1 2023 Earnings Report
Reported a decrease in net income available to common shareholders, but experienced solid loan growth and maintained strong credit quality metrics.
Key Takeaways
WesBanco's first quarter 2023 results showed a slight decrease in net income available to common shareholders compared to the previous year, but the company demonstrated solid loan growth, strong credit quality, and a well-capitalized position.
Generated solid growth in pre-tax, pre-provision income (excluding restructuring and merger-related expenses) of 13.2% year-over-year (non-GAAP).
Total loan growth was 11.9% year-over-year and 7.0% annualized when compared to December 31, 2022, reflecting the strength of our markets and lending teams.
Key credit quality metrics such as non-performing assets, total past due loans, and net loan charge-offs, as percentages of total portfolio loans, have remained at low levels and favorable to peer bank averages, those with total assets between $10 billion and $25 billion (based upon the prior four quarters).
WesBanco remains well-capitalized with solid liquidity and a strong balance sheet with capacity to fund loan growth
Forward Guidance
Forward-looking statements involve risks and uncertainties, including economic conditions, interest rates, credit losses, regulatory actions, and cyber-security breaches, which could materially impact WesBanco's operational and financial performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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