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Complete financial analysis of WesBanco, Inc. (WSBCP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of WesBanco, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.
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WesBanco, Inc. (WSBCP)
About WesBanco, Inc.
WesBanco, Inc. operates as the bank holding company for WesBanco Bank, Inc. that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit. It also provides commercial real estate loans; commercial and industrial loans; residential real estate loans, including loans to purchase, construct, or refinance borrower's home; home equity lines of credit; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and commercial, mortgage, and individual installment loans. In addition, the company offers trust and investment services, as well as various investment products comprising mutual funds and annuities; and securities brokerage services. Further, WesBanco, Inc., through its non-banking subsidiaries, acts as an agency that specializes in property, casualty, life, and title insurance, as well as benefit plan sales and administration to personal and commercial clients; provides broker dealer and discount brokerage services; holds investment securities and loans; and holds and leases commercial real estate properties, as well as acts as an investment adviser to a family of mutual funds. As of December 31, 2021, it operated 206 branches and 203 ATMs in West Virginia, Ohio, western Pennsylvania, Kentucky, southern Indiana, and Maryland, as well as seven loan production offices in West Virginia, Ohio, western Pennsylvania, Maryland, and northern Virginia. WesBanco, Inc. was founded in 1870 and is headquartered in Wheeling, West Virginia.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 594.69M | 591.70M | 590.72M | 607.67M | 516.62M | 447.51M | 379.14M | 334.83M | 311.45M | 261.73M | 254.77M | 233.13M | 229.25M | 225.69M | 222.96M | 217.88M | 172.25M | 163.24M | 171.44M | 144.77M | 136.23M | 131.45M | 112.17M | 106.90M | 111.20M | 114.50M | 83.50M | 77.00M | 67.10M | 67.20M | 51.10M | 48.20M | 39.20M | 32.80M | 31.40M | 0.00 | 0.00 |
| Cost of Revenue | 67.81M | 64.32M | 70.06M | 70.75M | 62.66M | 50.72M | 45.33M | 41.00M | 38.89M | 37.20M | 37.34M | 35.45M | 33.98M | 33.97M | 35.46M | 35.65M | 30.42M | 28.90M | 32.89M | 27.22M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 526.88M | 527.39M | 520.66M | 536.92M | 453.96M | 396.79M | 333.81M | 293.83M | 272.57M | 224.54M | 217.44M | 197.68M | 195.27M | 191.72M | 187.50M | 182.24M | 141.83M | 134.34M | 138.56M | 117.55M | 136.23M | 131.45M | 112.17M | 106.90M | 111.20M | 114.50M | 83.50M | 77.00M | 67.10M | 67.20M | 51.10M | 48.20M | 39.20M | 32.80M | 31.40M | 0.00 | 0.00 |
| Gross Profit Ratio | 88.60% | 89.13% | 88.14% | 88.36% | 87.87% | 88.67% | 88.04% | 87.75% | 87.51% | 85.79% | 85.34% | 84.79% | 85.18% | 84.95% | 84.10% | 83.64% | 82.34% | 82.29% | 80.82% | 81.20% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 236.09M | 212.70M | 199.43M | 202.62M | 173.75M | 147.92M | 130.80M | 116.22M | 108.34M | 92.30M | 92.41M | 84.27M | 78.76M | 79.45M | 83.17M | 72.12M | 57.40M | 53.68M | 56.29M | 47.39M | 32.95M | 39.22M | 33.84M | 33.31M | 35.30M | 35.40M | 25.80M | 23.60M | 21.60M | 21.70M | 15.20M | 14.60M | 12.40M | 10.80M | 10.20M | 0.00 | 0.00 |
| Selling & Marketing | 11.18M | 9.34M | 8.63M | 5.96M | 6.06M | 5.37M | 5.72M | 5.39M | 5.65M | 5.24M | 5.17M | 4.24M | 5.14M | 4.19M | 5.09M | 5.67M | 4.48M | 5.14M | 4.54M | 3.05M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 247.27M | 222.04M | 208.06M | 208.58M | 179.82M | 153.29M | 136.52M | 121.61M | 113.99M | 97.54M | 97.59M | 88.51M | 83.90M | 83.64M | 88.27M | 77.79M | 61.88M | 58.83M | 60.83M | 50.44M | 32.95M | 39.22M | 33.84M | 33.31M | 35.30M | 35.40M | 25.80M | 23.60M | 21.60M | 21.70M | 15.20M | 14.60M | 12.40M | 10.80M | 10.20M | 0.00 | 0.00 |
| Other Expenses | 0.00 | -157.72M | -496.93M | -671.17M | -503.22M | -362.73M | -51.07M | -47.15M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -52.47M | -60.62M | -61.86M | -52.67M | -28.38M | -21.47M | -38.10M | -34.20M | -23.00M | -22.90M | -21.40M | -31.80M | -15.10M | -7.70M | 1.20M | 5.80M | 4.10M | 7.60M | 6.10M |
| Operating Expenses | 297.02M | 64.32M | -288.87M | -462.59M | -323.41M | -199.55M | 5.72M | 5.39M | 5.65M | 5.24M | 5.17M | 4.24M | 5.14M | 4.19M | 5.09M | 5.67M | 4.48M | 5.14M | 8.35M | -10.18M | -28.91M | -13.45M | 5.47M | 11.84M | -2.80M | 1.20M | 2.80M | 700.00K | 200.00K | -10.10M | 100.00K | 6.90M | 13.60M | 16.60M | 14.30M | 7.60M | 6.10M |
| Cost & Expenses | 297.02M | 64.32M | -288.87M | -462.59M | -323.41M | -199.55M | 51.05M | 46.39M | 44.53M | 42.44M | 42.51M | 39.68M | 39.12M | 38.16M | 40.56M | 41.32M | 34.90M | 34.05M | 32.89M | 27.22M | -28.91M | -13.45M | 5.47M | 11.84M | -2.80M | 1.20M | 2.80M | 700.00K | 200.00K | -10.10M | 100.00K | 6.90M | 13.60M | 16.60M | 14.30M | 7.60M | 6.10M |
| Interest Income | 711.52M | 513.66M | 484.97M | 541.28M | 484.25M | 414.96M | 332.42M | 286.10M | 261.71M | 215.99M | 217.89M | 211.69M | 224.17M | 236.53M | 257.36M | 281.77M | 236.39M | 227.27M | 224.75M | 169.44M | 165.52M | 176.16M | 163.94M | 163.08M | 155.90M | 162.70M | 124.60M | 112.90M | 97.90M | 92.00M | 74.00M | 77.80M | 71.00M | 63.80M | 59.40M | 0.00 | 0.00 |
| Interest Expense | 230.18M | 39.34M | 27.03M | 61.80M | 84.35M | 67.72M | 42.13M | 32.77M | 24.73M | 22.76M | 32.40M | 43.34M | 54.80M | 70.44M | 98.99M | 121.23M | 117.08M | 104.44M | 92.43M | 60.21M | 62.51M | 72.56M | 76.35M | 79.55M | 69.30M | 73.90M | 55.80M | 48.20M | 41.90M | 35.60M | 31.60M | 38.10M | 39.40M | 37.80M | 34.40M | 0.00 | 0.00 |
| Depreciation & Amortization | 14.44M | 23.32M | 24.84M | 27.54M | 21.91M | 17.43M | 15.38M | 12.84M | 3.14M | 1.92M | 2.29M | 2.15M | 2.41M | 13.72M | 10.33M | 7.44M | 4.71M | 4.24M | 5.89M | 8.84M | 10.81M | 5.28M | 4.45M | 5.60M | 6.90M | 5.40M | 5.20M | 5.50M | 5.40M | 7.10M | 1.30M | 4.50M | 1.20M | 1.00M | 1.10M | 0.00 | 0.00 |
| EBITDA | 0.00 | 440.00M | 406.27M | 464.57M | 415.54M | 358.87M | 281.37M | 239.71M | 120.44M | 103.00M | 93.95M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 55.99M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7.60M | 6.10M |
| EBITDA Ratio | 0.00% | 48.34% | 53.04% | 26.08% | 39.40% | 56.47% | 52.98% | 47.69% | 45.60% | 47.32% | 48.70% | 48.27% | 53.15% | 54.99% | 59.32% | 78.61% | 101.30% | 96.16% | 89.12% | 80.27% | 86.71% | 93.78% | 108.84% | 116.32% | 103.69% | 105.76% | 109.58% | 108.05% | 108.35% | 95.54% | 102.74% | 123.65% | 137.76% | 153.66% | 149.04% | 0.00% | 0.00% |
| Operating Income | 287.03M | 275.74M | 301.85M | 145.08M | 193.21M | 242.25M | 281.37M | 239.71M | 217.18M | 173.55M | 175.38M | 172.00M | 185.04M | 198.37M | 216.81M | 240.45M | 201.49M | 193.22M | 146.91M | 107.37M | 107.32M | 118.00M | 117.64M | 118.75M | 108.40M | 115.70M | 86.30M | 77.70M | 67.30M | 57.10M | 51.20M | 55.10M | 52.80M | 49.40M | 45.70M | 7.60M | 6.10M |
| Operating Income Ratio | 48.27% | 46.60% | 51.10% | 23.87% | 37.40% | 54.13% | 74.21% | 71.59% | 69.73% | 66.31% | 68.84% | 73.78% | 80.72% | 87.89% | 97.24% | 110.36% | 116.98% | 118.37% | 85.69% | 74.17% | 78.78% | 89.77% | 104.87% | 111.08% | 97.48% | 101.05% | 103.35% | 100.91% | 100.30% | 84.97% | 100.20% | 114.32% | 134.69% | 150.61% | 145.54% | 0.00% | 0.00% |
| Total Other Income/Expenses | -92.98M | -84.22M | -92.39M | -101.62M | -91.35M | -78.80M | -54.72M | -61.85M | -57.21M | -79.86M | -44.66M | -9.94M | 0.00 | -175.00K | -1.82M | -3.95M | 365.00K | -5.94M | -1.53M | -57.09M | -62.51M | -72.56M | -76.35M | -79.55M | -69.30M | -73.90M | -55.80M | -48.20M | -41.90M | -35.60M | -31.60M | -37.50M | -39.40M | -37.80M | -34.40M | 0.00 | 0.00 |
| Income Before Tax | 194.05M | 236.40M | 301.85M | 145.08M | 193.21M | 174.52M | 148.29M | 117.67M | 109.18M | 93.69M | 84.69M | 63.13M | 53.65M | 39.96M | 22.94M | 42.61M | 52.69M | 48.30M | 54.48M | 47.16M | 44.81M | 45.45M | 41.28M | 39.20M | 39.10M | 41.80M | 30.50M | 29.50M | 25.40M | 21.50M | 19.60M | 17.60M | 13.40M | 11.60M | 11.30M | 0.00 | 0.00 |
| Income Before Tax Ratio | 32.63% | 39.95% | 51.10% | 23.87% | 37.40% | 39.00% | 39.11% | 35.14% | 35.05% | 35.80% | 33.24% | 27.08% | 23.40% | 17.71% | 10.29% | 19.56% | 30.59% | 29.59% | 31.78% | 32.58% | 32.89% | 34.57% | 36.80% | 36.66% | 35.16% | 36.51% | 36.53% | 38.31% | 37.85% | 31.99% | 38.36% | 36.51% | 34.18% | 35.37% | 35.99% | 0.00% | 0.00% |
| Income Tax Expense | 35.02M | 44.29M | 59.59M | 23.04M | 34.34M | 31.41M | 53.81M | 31.04M | 28.42M | 23.72M | 20.76M | 13.59M | 9.84M | 4.35M | -992.00K | 4.49M | 8.02M | 9.26M | 11.72M | 8.98M | 8.68M | 10.62M | 12.28M | 12.27M | 11.50M | 13.50M | 8.20M | 8.30M | 7.20M | 5.80M | 4.90M | 4.70M | 3.50M | 2.70M | 2.80M | -7.60M | -6.10M |
| Net Income | 159.03M | 192.11M | 242.26M | 122.04M | 158.87M | 143.11M | 94.48M | 86.64M | 80.76M | 69.97M | 63.93M | 49.54M | 43.81M | 35.61M | 23.93M | 38.12M | 44.67M | 39.04M | 42.76M | 38.18M | 36.13M | 34.83M | 29.00M | 26.92M | 27.60M | 28.30M | 22.30M | 21.20M | 18.20M | 15.70M | 14.70M | 12.30M | 9.90M | 8.90M | 8.50M | 7.60M | 6.10M |
| Net Income Ratio | 26.74% | 32.47% | 41.01% | 20.08% | 30.75% | 31.98% | 24.92% | 25.87% | 25.93% | 26.73% | 25.09% | 21.25% | 19.11% | 15.78% | 10.73% | 17.49% | 25.93% | 23.91% | 24.94% | 26.38% | 26.52% | 26.49% | 25.85% | 25.19% | 24.82% | 24.72% | 26.71% | 27.53% | 27.12% | 23.36% | 28.77% | 25.52% | 25.26% | 27.13% | 27.07% | 0.00% | 0.00% |
| EPS | 2.51 | 3.03 | 3.54 | 1.78 | 2.83 | 2.93 | 2.15 | 2.16 | 2.15 | 2.39 | 2.18 | 1.84 | 1.65 | 1.34 | 0.90 | 1.44 | 2.09 | 1.79 | 1.90 | 1.91 | 1.80 | 1.70 | 1.60 | 1.41 | 1.36 | 1.36 | 1.09 | 1.39 | 1.43 | 1.22 | 1.25 | 1.25 | 1.22 | 1.24 | 1.19 | 1.05 | 0.84 |
| EPS Diluted | 2.51 | 3.02 | 3.53 | 1.77 | 2.83 | 2.92 | 2.14 | 2.16 | 2.15 | 2.39 | 2.18 | 1.84 | 1.65 | 1.34 | 0.90 | 1.43 | 2.09 | 1.79 | 1.90 | 1.90 | 1.80 | 1.70 | 1.60 | 1.41 | 1.35 | 1.36 | 1.09 | 1.39 | 1.43 | 1.21 | 1.25 | 1.25 | 1.22 | 1.24 | 1.19 | 1.05 | 0.84 |
| Weighted Avg Shares Out | 59.30M | 60.05M | 65.52M | 67.26M | 56.11M | 48.89M | 44.00M | 40.10M | 37.49M | 29.25M | 29.27M | 26.87M | 26.61M | 26.58M | 26.57M | 26.55M | 21.36M | 21.76M | 22.47M | 20.03M | 20.06M | 20.46M | 18.12M | 19.09M | 20.23M | 20.87M | 20.49M | 15.25M | 12.71M | 12.89M | 11.76M | 9.84M | 8.11M | 7.18M | 7.14M | 7.24M | 7.26M |
| Weighted Avg Shares Out (Dil) | 59.43M | 60.22M | 65.67M | 67.31M | 56.21M | 49.02M | 44.08M | 40.13M | 37.55M | 29.33M | 29.34M | 26.89M | 26.62M | 26.58M | 26.57M | 26.56M | 21.39M | 21.82M | 22.53M | 20.08M | 20.06M | 20.46M | 18.12M | 19.09M | 20.39M | 20.87M | 20.49M | 15.25M | 12.75M | 12.99M | 11.76M | 9.84M | 8.11M | 7.18M | 7.14M | 7.24M | 7.26M |
Source: https://incomestatements.info
Category: Stock Reports
How did WesBanco’s non-interest income change in 2023 compared to 2022?
For the fourth quarter of 2023, non-interest income of $30.1 million increased $2.3 million, or 8.3%, from the fourth quarter of 2022.
How did WesBanco’s loan and deposit growth impact its financial results?
For the twelve months ended December 31, 2023, net interest income of $481.3 million increased $7.0 million, or 1.5%, primarily due to loan growth and the benefit of rising rates on earning assets outpacing funding costs.
What were the key factors affecting WesBanco’s net interest margin in 2023?
The net interest margin of 3.02% for the fourth quarter of 2023 decreased just 1 basis point sequentially but 47 basis points year-over-year primarily due to higher funding costs from increasing deposit costs and continued remix from non-interest bearing deposits into higher tier money market and certificate of deposit …