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Sep 30, 2022
WesBanco Q3 2022 Earnings Report
Announced third quarter earnings with an increase in net income and diluted earnings per share compared to the same quarter last year.
Key Takeaways
WesBanco reported a strong third quarter in 2022, with net income available to common shareholders of $50.5 million and diluted earnings per share of $0.85. The company saw growth in loans and managed to control discretionary expenses. Credit quality metrics remained favorable, and the net interest margin increased sequentially.
Net income available to common shareholders for the third quarter of 2022 was $50.5 million, with diluted earnings per share of $0.85.
Third quarter net interest margin of 3.33% increased 30 basis points sequentially.
Total loan growth was 6.5% year-over-year, and 0.8% when compared to June 30, 2022, excluding SBA PPP loans.
Non-interest expenses increased just 1.8% year-over-year, excluding restructuring and merger-related expenses, demonstrating strong discretionary cost control.
WesBanco
WesBanco
Forward Guidance
WesBanco did not provide specific forward guidance in this earnings report.