WesBanco reported a net income of $51.6 million for Q4 2021, a slight increase from $50.2 million in Q4 2020. Diluted earnings per share were $0.82, compared to $0.75 in the prior year quarter. The company's performance was driven by continued expense management, record trust assets, and strong residential mortgage originations.
Expense management with a year-to-date efficiency ratio of 58.22%.
Trust assets reached a record $5.6 billion due to market appreciation and organic growth.
Residential mortgage originations increased 9% year-over-year, totaling $1.4 billion for 2021.
Macro-economic improvements favorably impacted the provision for credit losses.
WesBanco did not provide specific forward guidance in the Q4 2021 earnings report.
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