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Mar 31, 2024
WesBanco Q1 2024 Earnings Report
WesBanco's first quarter performance in 2024 reflected growth in loans and deposits, along with effective management of borrowings and costs, and diversification of revenue streams.
Key Takeaways
WesBanco reported a net income available to common shareholders of $33.2 million, with diluted earnings per share of $0.56 for the first quarter of 2024. Total deposits increased 4.8% year-over-year and 2.5% quarter-over-quarter, while total loan growth was 9.0% year-over-year and 2.0% quarter-over-quarter. Non-interest income increased 10.8% year-over-year.
Deposits of $13.5 billion increased 4.8% year-over-year and 2.5% quarter-over-quarter.
Total loan growth was 9.0% year-over-year and 2.0% quarter-over-quarter, representing an increase of $1.0 billion compared to the prior year period.
Non-interest income increased 10.8% year-over-year, driven by new commercial loan swap and wealth management fees.
Non-interest expense declined sequentially due to management of staffing levels and marketing costs.
WesBanco
WesBanco
WesBanco Revenue by Segment
Revenue by Segment
Trust Fees Revenue
CapyFin.comService Charges on Deposits Revenue
CapyFin.comDigital Banking Income Revenue
CapyFin.comNet Securities Brokerage Revenue
CapyFin.comBank-Owned Life Insurance Revenue
CapyFin.comMortgage Banking Income Revenue
CapyFin.comNet Securities Gains Revenue
CapyFin.comNet Gains on OREO & Other Assets Revenue
CapyFin.comOther Income Revenue
CapyFin.comNet Swap Fee & Valuation Income Revenue
CapyFin.com Forward Guidance
This document does not contain forward guidance.