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Sep 30, 2024
WesBanco Q3 2024 Earnings Report
Reported net income of $34.7 million and EPS of $0.54, driven by strategic actions to strengthen the balance sheet, including robust deposit and loan growth.
Key Takeaways
WesBanco reported a positive third quarter with strong deposit and loan growth. Net income available to common shareholders for the third quarter of 2024 was $34.7 million, with earnings per share of $0.54.
Total loan growth was 10.0% year-over-year and 6.3% over the sequential quarter, annualized.
Deposits of $13.8 billion increased 5.7% year-over-year and 12.1% over the sequential quarter, annualized.
Trust fees and net securities brokerage revenue increased $1.1 million combined year-over-year.
Key credit quality metrics continued to remain at low levels and favorable to peer bank averages.
WesBanco
WesBanco
Forward Guidance
WesBanco expects to accelerate its positive momentum with the pending acquisition of Premier Financial, building on their legacy of community engagement and support, and together bringing the resources of a larger and stronger financial services organization to all of our communities.