WesBanco, Inc. ("WesBanco" or "the Company") (Nasdaq ticker: WSBC) today announced its net profits for the three months and nine months ending September 30, 2026, as well as related earnings per share. In the third quarter of 2026, the net profit attributable to common shareholders was $85.3 million, with earnings per share after dilution at $0.88; in the same period last year, these figures were $81 million and $0.84 respectively.

For the nine months ending September 30, 2026, the net profit was 258.1 million US dollars, with a diluted earnings per share of 2.67 US dollars; for the same period in 2025, these figures were 124.4 million US dollars and 139 US dollars respectively.

The company stated that, calculated in accordance with non-GAAP (non-GAAP) accounting standards, the adjusted diluted earnings per share for the third quarter were $0.89, compared to $0.94 in the same period of the previous year, after excluding after-tax restructuring and merger-related expenses. Using the same basis and after accounting for the after-tax impact of the credit loss provisions on the first day of the acquisition loan, the adjusted diluted earnings per share for the nine-month period were $2.72, which is an increase from $2.55 in the same period of 2025.

Financial and operational highlights for the quarter ending September 30, 2026:

• Year-on-year, loan growth increased by 8.7%, and quarter-on-quarter it rose by 5.1%; organic growth offset the early repayment of approximately $370 million in commercial real estate ( CRE ), which had a negative impact on loan growth of about 1%.
• Continued growth momentum in target expansion markets such as Tennessee and South Florida, with organic loans in Nashville and South Florida both exceeding 400 million dollars.
• The average loan-to-deposit ratio is 90.8%, indicating that there is still room for further lending in an expanding market, as loan growth outpaces deposit growth.
• Net interest margin rose by 7 basis points year-on-year to 3.60%, mainly driven by a decrease in financing costs.
• Recorded fees were generated in deposit service charges, digital banking, and fund management, resulting in an additional $2.8 million in commercial swap income.
• Thanks to the company-wide promotion of positive operational leverage, efficiency has been maintained at a stable level of 52% ( non-GAAP )
• The company's prudent growth strategy has led to an adjusted and diluted earnings per share of $2.72 as of the beginning of this year, representing a year-on-year increase of 6.7% ( non-GAAP )
• WesBanco Bank has consecutively received the “Outstanding” community reinvestment bill rating awarded by FDIC for the ninth time, with a cumulative duration of 25 years.
• The company was also recently rated as one of the world's best-performing banks by Forbes.

WesBanco, President and CEO, Jeff Jackson stated: "Our third-quarter performance reflects the continued strength of WesBanco's cautious growth strategy and relationship-oriented banking model. Adjusted and diluted earnings per share have grown by nearly 7% since the beginning of the year, and at the same time, we have maintained a solid positive operating leverage and achieved strong organic loan growth, which is sufficient to offset the higher early repayments of commercial real estate. With strong momentum in our franchise business and ample commercial pipelines, we believe the company is well-prepared to continue improving its performance in the coming quarters."

Balance Sheet

As of September 30, 2026, the WesBanco balance sheet reflects organic growth as well as the impact of higher CRE prepayments. Total assets increased by 3.4% year-over-year to $28.5 billion, of which the total loan portfolio amounted to $19.9 billion and total securities were $4.5 billion. Due to nearly $1 billion in organic growth, this was partially offset by higher CRE prepayments, resulting in a 5.1% year-over-year increase in the loan portfolio. The company stated that CRE prepayments remained at a high level as expected, with a total of approximately $370 million in the third quarter of 2026 and nearly $1.5 billion in the past 12 months. As of September 30, 2026, the commercial loan pipeline had grown by more than 50% from the beginning of the year, reaching $1.8 billion.

Deposits amounted to 21.6 billion US dollars, representing a year-on-year increase of 1.5%, mainly due to organic growth exceeding the decline in high-cost time deposits ( CDs ). Excluding time deposits, total deposits increased by 752 million US dollars year-on-year, with a growth rate of 4.1%, and a month-on-month annualized growth of 2.2%. Demand deposits accounted for 50% of total deposits, of which interest-free deposits made up 24% of total deposits.

Credit Quality

In the third quarter, net provisions for credit losses amounted to $8.7 million, mainly due to an increase in loan balances and the write-off of a commercial credit item for which full provisions had previously been made. The loan loss provisions and related coverage ratios do not include the undiscounted portion of acquired loans, which constitutes 1.31% of the total loan portfolio. Substandard and classified loans (including the non-performing loan portfolio) decreased by $93 million, or 55 basis points, to account for 3.19% of the total loan portfolio. Non-performing assets accounted for 0.62% of total assets, including a $19.2 million loan that is pending sale; this ratio increased by 9 basis points from the previous quarter, as two commercial credits from different industries and markets, as well as residential mortgages for 1 to 4 households, were reclassified as non-accrued. As of September 30, 2026, loan loss provisions accounted for 1.08% of the total loan portfolio, equivalent to $214.6 million.

Net interest income and net interest margin

In the third quarter of 2026, net interest income amounted to $226.9 million, an increase of $10.2 million or 4.7% year-over-year, mainly driven by loan growth, upward repricing of loans, and higher yields on securities. For the nine months ending September 30, 2026, net interest income was $664.4 million, an increase of $72.4 million or 12.2% year-over-year, with the same main reasons as during the three-month period.

The net interest margin in the third quarter was 3.60%, an improvement of 7 basis points year-on-year, mainly driven by a decrease in financing costs; if the additional 3 basis points from the early repayment in the second quarter, which led to accelerated amortization, are excluded, it would be the same as that in the second quarter. In the third quarter of 2026, the deposit financing cost was 239 basis points, down 17 basis points from the same period last year and up 4 basis points from the second quarter. If interest-free deposits are included, the deposit financing cost in the third quarter was 180 basis points.

Non-interest income

In the third quarter of 2026, non-interest income amounted to $45.9 million, an increase of $1 million compared to the third quarter of 2025, representing a growth of 2.2%. This increase was mainly due to higher net swap and valuation income, as well as increased deposit service fees and trust fees. The total swap fees for the third quarter were $2.8 million, which is a decrease from $3.2 million in the same period last year; fair value adjustments amounted to $2.1 million, whereas there was virtually no income in the same period last year. Deposit service fees increased by $1.1 million year-over-year, due to the hike in monthly fees that took effect in June 2026, as well as increased general consumption and transaction volume. Trust fees were $9.7 million, up $700,000 from the same period last year, due to an increase in managed assets. Income from mortgage banking business decreased by $1.8 million compared to the same period last year, as more mortgage transactions were retained within the loan portfolio.

Primarily affected by the aforementioned projects, as well as net securities brokerage income and other revenues, non-interest income for the nine months ending September 30, 2026, increased by $17.8 million year-over-year, representing a growth of 14.4% to $141.3 million. Supported by a strong asset base, net securities brokerage income increased by $1.4 million, due to the addition of new PFC wealthy clients, appreciation in market value, and organic growth. Other revenues included a one-time gain of $4.8 million from retirement plans.

Non-interest expenses

For the three months ending September 30, 2026, non-interest expenses, after excluding costs related to restructuring and mergers and acquisitions, amounted to $150.1 million, an increase of $5.3 million or 3.7% year-over-year. This increase was mainly due to rising salaries and wages, but it was partially offset by better management of discretionary expenses. Salaries and wages totaled $69.1 million, with the increase stemming from recruitment activities in Florida and Nashville during the second quarter, as well as mid-year performance-based salary adjustments. Marketing expenses increased by $2 million to support new expansion markets. Insurance expenses were $4.6 million, down from previous levels, due to lower assessment rates, which is related to the company's improved financial ratios. Amortization of intangible assets was $7.1 million, consistent with the previous two quarters, but $1.3 million lower than the same period last year, due to the acquisition of intangible assets related to core deposits in the previous year. Employee benefits decreased by $3.2 million to $14.9 million year-over-year, mainly due to reductions in medical claims and deferred compensation expenses. Costs related to restructuring and mergers and acquisitions were $10.7 million lower than the same period last year, as the previous year included costs associated with the completion of the acquisition of PFC.

Excluding reorganization and merger-related expenses, non-interest expenses for the first nine months of 2026 amounted to $441.2 million, an increase of $37 million or 9.1% year-over-year. This increase was mainly due to the aforementioned expenses, as well as the acquisition of Premier Financial which was only consolidated from March 1, 2025, in the same period of the previous year.

Capital

WesBanco indicates that the company continues to maintain what it considers to be a sound regulatory capital ratio. Both the consolidated and bank-level regulatory capital ratios are significantly higher than the 'capital adequacy' standards prescribed by banking regulators, as well as the Basel III capital standards. As of September 30, 2026, the Tier 1 leverage ratio was 9.87%, the Tier 1 risk capital ratio was 11.60%, the common equity Tier 1 capital ratio (CET1) was 10.61%, and the total risk capital ratio was 13.97%. In addition, the ratio of tangible common equity to tangible assets was 8.15%.

Teleconference and online live broadcast

WesBanco will hold a teleconference on Thursday, October 22, 2026, at 3:00 PM Eastern Time to discuss the company's financial results for the third quarter of 2026. Investors can listen to the live broadcast of the teleconference through the Investor Relations page on the company's website at www.wesbanco.com. Participants can also call 888-347-6607, and international users can call 1-412-902-4290 and request to be connected to the WesBanco teleconference. Please log in or dial in at least 10 minutes before the start to ensure a successful connection.

For the phone conference replay, you can call 855-669-9658; international users can call 1-412-317-0088 and enter the access code 9592854. The replay will begin around 5:00 PM Eastern Time on October 22, 2026, and end at midnight Eastern Time on November 5, 2026. The live webcast archive will be available on the company's website under the Investor Relations page for one year.

Forward-looking Statements

Forward-looking statements regarding the WesBanco plan, strategy, objectives, expectations, intentions, and resource adequacy contained in this report are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The information in this document should be read in conjunction with WesBanco's annual 10-K form for the year ending December 31, 2025, as well as subsequent filings submitted by the company to the U.S. Securities and Exchange Commission (SEC), including the 10-Q forms for the quarters ending March 31, 2026, and June 30, 2026. These documents are available on the SEC website www.sec.gov or the WesBanco website www.WesBanco.com. Investors should note that forward-looking statements are not historical facts and involve risks and uncertainties, including those described in item 1A of the 'Risk Factors' section in the most recent annual 10-K report for the year WesBanco and in other reports submitted by the company to SEC.Such statements are subject to a number of important factors that may lead to significant differences between the actual results and those anticipated in the statements. These factors include, but are not limited to: changes in interest rates, the interest rate spread between interest-bearing assets and liabilities and related interest rate sensitivity; the sources of liquidity available to WesBanco and its related subsidiaries; potential future credit losses and the credit risks of commercial, real estate, and consumer loan customers and their borrowing activities; actions by the Federal Reserve, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Agency, the Securities and Exchange Commission, the Financial Institutions Regulatory Authority, the Municipal Securities Rules Board, the Securities Investor Protection Corporation, and other regulatory agencies; potential legislative and federal and state regulatory actions and reforms, including the impact of the implementation of the Dodd-Frank Act; adverse rulings by federal and state courts; third-party fraud, scams, and deception; cybersecurity vulnerabilities; the competitive landscape in the financial services industry; the impact of rapidly changing technology on financial services; the tradability of debt instruments and its corresponding impact on fair value adjustments; and other external developments that may have a significant impact on the operations and financial performance of WesBanco. WesBanco assumes no obligation to update forward-looking statements.

Although forward-looking statements reflect the company's good-faith judgment, they do not guarantee future performance. All forward-looking statements are essentially merely estimates of future results. Therefore, actual results may differ significantly from those expressed or implied in such forward-looking statements, and investors should not rely excessively on them. Furthermore, any forward-looking statement is only valid as of the date it is made, and the company has no obligation to update such statements to reflect events or circumstances that occur after the date of issuance, nor to account for the occurrence of unforeseen events or circumstances, unless required by applicable law.

Non-GAAP Financial Indicators

In addition to presenting financial results in accordance with generally accepted accounting principles ( GAAP ), the management of WesBanco has also used certain non- GAAP financial indicators, which are included or referenced in this disclosure. WesBanco believes that these financial indicators help investors understand the company's operational performance, business, and performance trends, and facilitate comparison with the performance of other companies in the financial services industry. Although WesBanco considers these non- GAAP financial indicators to be helpful for investors to better understand its business and performance, they should not be regarded as substitutes for the GAAP financial indicators. The non- GAAP financial indicators contained herein should be read in conjunction with the audited financial statements and analyses in the company's 10-K annual report, as well as the unaudited financial statements and analyses in the 10-Q quarterly reports of WesBanco and its subsidiaries, and other documents submitted by the company to SEC. A comparison table of the non- GAAP financial indicators with the most directly comparable GAAP financial indicators is provided at the end of this press release.

Regarding WesBanco, Inc.

WesBanco boasts over 150 years of experience in community-oriented regional financial services collaboration. WesBanco Inc (Nasdaq ticker: WSBC) and its subsidiaries help clients achieve success throughout their financial journeys, thereby creating lasting prosperity. With operations in 10 states, the company provides comprehensive and personalized retail and commercial banking solutions, as well as trust, brokerage, wealth management, and insurance services, all aimed at helping clients achieve their financial goals. Leveraging the strength of its team and combining the capabilities of large banks with local focus, the company strives to make each community it serves a better place for people and businesses to thrive. WesBanco is headquartered in Wheeling, West Virginia. As of September 30, 2026, its total assets amounted to $28.5 billion; its trust and investment services business managed assets worth $8.1 billion, and the value of securities accounts (including annuities) under its brokerage/trader business was $2.5 billion. For more information, please visit www.wesbanco.com, and follow @WesBanco on Facebook, LinkedIn, and Instagram.