📄 What This Document Is 📰

This filing is an 8-K, which is a required form that tells investors about major, unscheduled corporate events. In this case, WesBanco is using it to announce its financial results for the first quarter (Q1) of 2026. Think of this as the company's official "report card" for the first three months of the year.

👉 Why it matters: It gives a snapshot of whether the company's revenue and profitability are improving compared to the previous year, and it guides investors on the current financial health and strategic direction of the bank.

🏦 What The Company Does 🗺️

WesBanco, Inc. is a diversified, multi-state bank holding company that has a long history of service in the region. They are not just a single bank; they are a comprehensive financial services partner.

👉 In simple terms: They provide a full suite of services—from basic checking accounts and commercial loans to advanced investments and wealth management—to customers across a ten-state footprint.

• Scale: As of March 31, 2026, the company reports $27.5 billion in total assets.
• Key Divisions: The Trust and Investment Services division holds $7.8 billion in assets under management, and their broker/dealer handles $2.6 billion in securities accounts (including annuities).
• Core Philosophy: They emphasize "large bank capabilities and local focus" to help businesses and people thrive in the communities they serve.

📈 Top-Line Financial Health: Net Income and EPS ✨

This section covers the most important metrics: net income and earnings per share (EPS). It's crucial to compare the GAAP (Generally Accepted Accounting Principles) numbers with the non-GAAP numbers, as the bank uses adjustments to show core operating performance.

👉 Headline finding: The bank significantly improved its net income in Q1 2026 compared to the loss it reported in Q1 2025.

• GAAP Net Income: Net income available to common shareholders was $84.4 million for Q1 2026, versus a loss of $(11.5 million) in Q1 2025. This swing from a loss to a profit is a massive turnaround.
• Diluted EPS (GAAP): Diluted earnings per share rose to $0.88 in Q1 2026, a major improvement from a loss of $(0.15) per share in Q1 2025.
• Adjusted Performance (Non-GAAP): When adjusting for large, one-time items (like restructuring or day one provisions), the adjusted net income available to common shareholders stood at $87.3 million for Q1 2026, generating $0.91 per share. This non-GAAP measure is often preferred by analysts for showing "normal" operating performance.

💰 Revenue Growth: Interest and Non-Interest Income 💸

The revenue section shows where the bank’s money is coming from. WesBanco reports two main buckets: interest income (like interest on loans) and non-interest income (fees and services).

👉 Key takeaway: Both the total interest and total non-interest income saw healthy year-over-year growth.

Interest and Dividend Income

• Total Interest and Dividend Income: This increased to $325.6 million in Q1 2026, up 28.6% from $253.2 million in Q1 2025.
  • Loans, including fees: This was a major contributor, reaching $280.9 million, up 28.7% compared to $218.4 million previously. This suggests growth in the amount and profitability of the loans the bank issues.
  • Total interest and dividends on securities: This also grew robustly to $36.3 million, or 35.4% higher than the prior year, showing increased returns on the investments WesBanco holds.

Non-Interest Income

• Total Non-Interest Income: This grew to $41.8 million in Q1 2026, up 20.7% compared to $34.7 million the previous year. This revenue comes from services and fees, which are often more stable than lending income.
• Service Charge Growth: Several service lines contributed to this growth:
  • Digital banking income: Increased to $6.6 million, or 22.1% higher, suggesting customers are using the bank's digital platforms more.
  • Trust fees: Rose to $10.4 million, showing increasing reliance on WesBanco's wealth management services.

📊 Expense Management: Costs of Doing Business 📉

The expense section reveals how much it costs the bank to operate. Analysts look closely at how quickly expenses are growing compared to revenue.

👉 Focus area: The bank demonstrated a strong improvement in its Net Interest Margin (NIM), which helps manage the costs associated with deposits versus the revenue generated from loans.

Interest Expense

• Total Interest Expense: This was $110.2 million in Q1 2026, an increase of 16.4% from $94.7 million the prior year.
• Deposit Costs: Interest paid on deposits (like money market and savings deposits) rose across the board (e.g., Money market deposits increased to $32.2 million).
• Federal Home Loan Bank borrowings: This expense decreased significantly to $11.3 million, down 13.2% from $13.0 million, indicating changes in how the bank is funding its operations.

Non-Interest Expense

• Total Non-Interest Expense: This rose to $146.7 million, or 9.5% higher than the previous year.
• Expense Increases: The largest increases were seen in:
  • Salaries and wages: Increased to $64.0 million, or 31.7% higher, signaling investments in the workforce.
  • Equipment and software: Increased to $15.7 million, or 20.1% higher.
• Expense Decreases: Management was able to reduce certain costs, notably:
  • Restructuring and merger-related expense: This expense dropped dramatically to $3.7 million, compared to $20.0 million the prior year. This suggests that major one-time cleanup costs related to past acquisitions are winding down.

🌟 The Core Profitability Story 💡

After balancing revenue and expenses, we get the bottom line. This section highlights the improvement in the bank's ability to generate profit.

• Net Interest Income: This metric saw robust growth, rising to $215.4 million in Q1 2026, up 35.9% from $158.5 million.
• Provision for Credit Losses: This provision (money set aside for potential loan defaults) decreased to ($897) in Q1 2026, significantly lower than the previous year's provision of $68.9 million. This suggests management anticipates a lower risk of loan defaults.
• Adjusted Net Income: The most powerful signal is the jump in adjusted net income, which reached $87.3 million. This dramatic increase signals that core business operations are much stronger than the GAAP numbers alone suggest.

🗺️ Strategic Moves & Growth Focus 🚀

While the financial statements are numerical, the announcement itself highlights a key strategic direction for the bank.

• Market Expansion: The company explicitly noted its "advanced organic growth with expansion into South Florida."
• Operational Focus: WesBanco uses its status as a "multi-state bank holding company" to its advantage, allowing it to grow geographically while maintaining a regional, community-focused identity.

🏢 Company Resources and Contacts 📞

This section provides all the necessary links for investors and analysts to follow up on the announcement.

• Website: The primary source for investor materials is the Investor Relations section of the company's website: www.wesbanco.com.
• Investor Contact: For questions, you can reach John H. Iannone, Senior Vice President, Investor Relations, at 304-905-7021.
• Next Steps: An upcoming conference call is scheduled for April 22, 2026, and the replay will be available through May 6, 2026.

🧠 The Analogy

Think of WesBanco like a local hardware store that has just finished a major, complicated remodeling job. In the previous year, the store had huge, one-time costs—like paying for specialized cleanup crews and installing brand-new, expensive display systems (these are the "day one provisions" and "restructuring expenses"). Those costs made the quarterly profit look terrible. But in Q1 2026, the major cleanup is done, the new systems are running smoothly, and the actual daily business—selling tools, services, and investments—is showing strong, organic growth, proving the store's underlying health is excellent.

🧩 Final Takeaway

WesBanco demonstrated a major financial turnaround in Q1 2026, driven by strong, sustained revenue growth and significantly lower one-time costs from previous acquisitions. The shift from a net loss to a substantial profit signals that the bank’s core, day-to-day operations are healthy and accelerating.