WesBanco, Inc.

WesBanco reported GAAP net income available to common shareholders of $88 million, or $0.91 per share, and adjusted net income of $89 million, or $0.92 per diluted share, in Q2 2026. Year-to-date EPS increased 14% to $1.83, and year-to-date pre-tax pre-provision earnings rose 24% to $242 million. Second-quarter NIM was 3.63%, up 4 bps YoY and 6 bps sequentially; efficiency ratio was 51%; ROA was 1.3%; tangible common equity return was 17.3%; CET1 was 10.7%. Total assets were $27.8 billion, loans were $19.5 billion, deposits were $21.6 billion, and allowance for credit losses was 1.12% of total loans, or $218 million. Non-interest income was $54 million, up $9.7 million or 22% YoY, and non-interest expense excluding restructuring/merger costs was $148 million, up 1.8% YoY and 3.6% sequentially. Management reiterated 2026 loan growth expectations of mid-single digits, expects Q3 payoffs at roughly two-thirds of Q2’s level, sees NIM staying around 3.60% for the rest of the year, gross commercial swap fees of $8 million-$10 million, quarterly fee income growth of 3%-5% YoY, and a Q3/Q4 expense run rate around $153 million. Full-year effective tax rate is expected to be approximately 21%.

Jeff Jackson framed the quarter as one of broad-based momentum across the franchise, emphasizing relationship banking, organic growth, and disciplined execution. He highlighted record production and pipeline growth, strong traction in South Florida and healthcare, and said the Florida franchise could become a $2 billion bank within a couple of years. His tone was confident and expansion-oriented, but still focused on execution and returns rather than aggressive M&A.

Dan Weiss focused on the earnings engine and the balance-sheet math behind the outlook. He pointed to core earnings growth, record fee income, a record-low 51% efficiency ratio, CET1 at 10.7%, and the ability to repurchase about 300,000 shares while still funding growth. He said deposit costs likely hit a floor, margin should stay near 3.60%, payoffs should taper in 2H26, and the company can fund loan growth with a mix of deposits and some wholesale funding if needed.

Analysts pressed on deposit growth, payoffs, margin durability, expenses, buybacks, and how far the Florida build-out can go. Management said deposits should improve in the back half of the year, with historical seasonal growth and new retail/commercial programs helping, while payoffs should taper and remain manageable given the record pipeline. They also said buybacks will likely be muted near term because capital is being used to fund loan growth, and that they are not pursuing M&A right now.