10-Q 1 wsbc-20220331.htm 10-Q 10-Q
0000203596falseQ1--12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000203596us-gaap:RetainedEarningsMember2022-03-310000203596us-gaap:AccountingStandardsUpdate201613Member2022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596wsbc:PersonalServiceChargesMember2021-01-012021-03-310000203596wsbc:AccruingTdrsMemberwsbc:CommercialAndIndustrialMember2021-12-310000203596us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-03-310000203596us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000203596us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310000203596us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Member2021-03-310000203596us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CorporateDebtSecuritiesMember2022-01-012022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000203596wsbc:TdrsMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596wsbc:DepositOverdraftMember2020-12-310000203596wsbc:NonAccrualLoansMember2022-03-310000203596us-gaap:InterestRateSwapMemberus-gaap:OtherIncomeMember2022-01-012022-03-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000203596us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:PreferredStockMember2020-12-310000203596us-gaap:CriticizedMemberwsbc:CommercialAndIndustrialMember2022-03-310000203596us-gaap:FairValueInputsLevel2Member2021-12-310000203596us-gaap:FairValueInputsLevel3Member2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2022-03-3100002035962021-01-012021-12-310000203596us-gaap:PassMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:NonperformingFinancingReceivableMember2021-12-310000203596us-gaap:FinancialAssetPastDueMember2021-12-310000203596wsbc:PaymentProcessingFeesMember2022-01-012022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:CommercialBankingFeesMember2021-01-012021-03-310000203596us-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596us-gaap:CommonStockMember2021-03-310000203596wsbc:TrustAndInvestmentServicesMember2021-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberwsbc:TdrsMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596wsbc:CommercialAndIndustrialExcludingPaycheckProtectionProgramMember2022-03-310000203596us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:ForwardTBAContractsMemberwsbc:MortgageBankingIncomeMember2022-01-012022-03-310000203596us-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-03-310000203596us-gaap:DeferredCompensationShareBasedPaymentsMember2021-01-012021-03-310000203596us-gaap:DepositsMember2022-01-012022-03-310000203596us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-03-310000203596us-gaap:FinancialAssetPastDueMemberwsbc:TdrsMember2022-03-310000203596us-gaap:PreferredStockMember2021-12-310000203596us-gaap:HomeEquityMember2022-01-012022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2022-03-310000203596wsbc:CommercialAndIndustrialMember2022-03-310000203596us-gaap:FinancialAssetNotPastDueMember2022-03-310000203596wsbc:AccruingTdrsMemberus-gaap:HomeEquityMember2021-12-310000203596us-gaap:CriticizedMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596wsbc:DepositarySharesMember2022-01-012022-03-310000203596us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596wsbc:TrustAndInvestmentServicesMember2022-01-012022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-3100002035962022-01-012022-03-310000203596us-gaap:CommonStockMember2020-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:SubstandardMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:FiduciaryAndTrustMember2022-01-012022-03-310000203596us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596us-gaap:AdditionalPaidInCapitalMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596us-gaap:InterestRateSwapMemberwsbc:LoanSwapsMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMember2020-12-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000203596us-gaap:OtherContractMemberwsbc:ForwardTBAContractsMember2022-03-310000203596us-gaap:CriticizedMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:AccruingTdrsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:DepositsMember2021-01-012021-03-310000203596us-gaap:USStatesAndPoliticalSubdivisionsMember2022-03-310000203596us-gaap:RetainedEarningsMember2021-03-310000203596us-gaap:ResidentialPortfolioSegmentMemberwsbc:FinancingReceivablesCurrentPastDueMember2021-12-310000203596wsbc:AccruingTdrsMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:TrailCommissionsMember2022-01-012022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberwsbc:TdrsMember2022-03-310000203596wsbc:CommercialAndIndustrialMember2020-12-310000203596wsbc:CorporateDebtAndOtherSecuritiesMember2021-12-3100002035962021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596wsbc:FinancingReceivablesCurrentPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:SubstandardMember2021-12-310000203596wsbc:InterestRateLoanCommitmentsMemberwsbc:MortgageBankingIncomeMember2021-01-012021-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-03-310000203596us-gaap:ConsumerPortfolioSegmentMember2021-03-310000203596wsbc:CorporateDebtAndOtherSecuritiesMember2022-03-310000203596wsbc:ManagedMoneyMember2021-01-012021-03-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CorporateDebtSecuritiesMember2021-12-310000203596us-gaap:FiduciaryAndTrustMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-03-310000203596wsbc:RiskParticipationInAgreementsMember2022-03-310000203596us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000203596us-gaap:PassMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Member2020-12-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:HomeEquityMember2021-12-310000203596us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-03-310000203596us-gaap:ResidentialPortfolioSegmentMemberwsbc:FinancingReceivablesCurrentPastDueMember2022-03-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596wsbc:CommunityBankingMember2021-01-012021-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:HomeEquityMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberwsbc:CommercialAndIndustrialMember2022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:HomeEquityMember2022-01-012022-03-310000203596us-gaap:CriticizedMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000203596us-gaap:CriticizedMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:HomeEquityMember2021-12-310000203596us-gaap:NonperformingFinancingReceivableMember2022-01-012022-03-310000203596wsbc:PersonalServiceChargesMember2022-01-012022-03-310000203596us-gaap:RestrictedStockMember2021-01-012021-03-310000203596wsbc:RiskParticipationOutAgreementMember2022-03-310000203596us-gaap:TreasuryStockMember2021-01-012021-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMember2022-03-310000203596us-gaap:InterestRateSwapMemberwsbc:LoanSwapsMember2021-12-310000203596wsbc:TrustAccountFeesMember2022-01-012022-03-310000203596us-gaap:CommonStockMember2022-01-012022-03-310000203596srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-03-310000203596us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2022-03-310000203596us-gaap:OtherContractMemberwsbc:InterestRateLoanCommitmentsMember2022-03-310000203596us-gaap:CriticizedMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:FinancialAssetPastDueMemberus-gaap:HomeEquityMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000203596us-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000203596us-gaap:FairValueInputsLevel1Member2021-12-310000203596us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-03-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-01-012021-03-310000203596wsbc:CommercialAndIndustrialPaycheckProtectionProgramMember2022-03-310000203596us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-03-310000203596wsbc:CommercialAndIndustrialPaycheckProtectionProgramMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-03-310000203596wsbc:ManagedMoneyMember2022-01-012022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596wsbc:RiskParticipationInAgreementsMember2021-12-310000203596us-gaap:HeldtomaturitySecuritiesMember2021-12-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596wsbc:NonAccrualTdrsMember2021-12-310000203596wsbc:TdrsMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-03-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-03-310000203596us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000203596us-gaap:ProductAndServiceOtherMember2022-01-012022-03-310000203596us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000203596us-gaap:NonperformingFinancingReceivableMember2021-01-012021-03-310000203596us-gaap:InterestRateSwapMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:NonperformingFinancingReceivableMember2021-01-012021-03-310000203596us-gaap:DeferredCompensationShareBasedPaymentsMember2020-12-310000203596wsbc:CommercialAndIndustrialMember2022-01-012022-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:ResidentialPortfolioSegmentMember2022-03-310000203596us-gaap:FinancialAssetPastDueMember2022-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:HomeEquityMember2022-03-310000203596us-gaap:NonperformingFinancingReceivableMember2022-03-310000203596wsbc:TrustAndInvestmentServicesMember2021-01-012021-03-310000203596us-gaap:AccountingStandardsUpdate201613Member2021-01-012021-03-310000203596us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310000203596us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596wsbc:SBAPayrollProtectionProgramMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:NonperformingFinancingReceivableMember2022-03-3100002035962021-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:HomeEquityMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-03-310000203596wsbc:AccruingTdrsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596wsbc:DepositOverdraftMember2022-01-012022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-03-310000203596us-gaap:ResidentialPortfolioSegmentMember2021-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596us-gaap:HomeEquityMember2022-03-310000203596wsbc:AccruingTdrsMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberwsbc:NonAccrualLoansMember2022-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:HomeEquityMember2021-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310000203596wsbc:AccruingTdrsMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMember2022-01-012022-03-310000203596wsbc:TrustAndInvestmentServicesMemberus-gaap:CustomerRelatedIntangibleAssetsMember2021-03-310000203596wsbc:NonAccrualTdrsMember2022-03-310000203596wsbc:AccruingTdrsMemberwsbc:CommercialAndIndustrialMember2022-03-310000203596wsbc:EquityAndDebtSecurityTradesMember2022-01-012022-03-310000203596us-gaap:AccountingStandardsUpdate201613Member2022-01-012022-03-310000203596wsbc:SBAPayrollProtectionProgramMember2021-12-310000203596wsbc:EquityAndDebtSecurityTradesMember2021-01-012021-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000203596us-gaap:ResidentialPortfolioSegmentMember2022-01-012022-03-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMember2021-01-012021-03-310000203596us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-3100002035962022-03-310000203596us-gaap:PreferredStockMember2021-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2022-03-3100002035962021-01-012021-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:RetainedEarningsMember2021-12-310000203596us-gaap:HomeEquityMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-01-012021-03-310000203596wsbc:AccruingTdrsMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberwsbc:TdrsMember2022-03-310000203596us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-310000203596us-gaap:HeldtomaturitySecuritiesMember2022-03-310000203596us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:AnnuityCommissionsMember2022-01-012022-03-310000203596us-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:EmployeeStockOptionMember2021-01-012021-03-310000203596us-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:CriticizedMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596wsbc:AccruingTdrsMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000203596us-gaap:PassMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:NonperformingFinancingReceivableMember2022-01-012022-03-310000203596wsbc:AccruingTdrsMemberus-gaap:HomeEquityMember2022-03-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596wsbc:CommercialBankingFeesMember2022-01-012022-03-310000203596us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310000203596us-gaap:AdditionalPaidInCapitalMember2020-12-310000203596us-gaap:RetainedEarningsMember2022-01-012022-03-310000203596wsbc:AccruingTdrsMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596us-gaap:TreasuryStockMember2021-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:HomeEquityMember2021-12-310000203596us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596us-gaap:PassMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596us-gaap:CriticizedMemberwsbc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:EmployeeStockOptionMember2022-01-012022-03-310000203596wsbc:FinancingReceivablesCurrentPastDueMemberus-gaap:HomeEquityMember2021-12-310000203596us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:DepositOverdraftMember2021-03-310000203596wsbc:DebitCardSponsorshipIncomeMember2022-01-012022-03-310000203596us-gaap:FairValueMeasurementsNonrecurringMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310000203596us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:CriticizedMemberwsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMember2021-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberwsbc:TdrsMember2022-03-310000203596us-gaap:CommonStockMember2021-01-012021-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000203596us-gaap:CriticizedMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596wsbc:DepositOverdraftMember2022-03-310000203596us-gaap:OtherContractMemberwsbc:ForwardTBAContractsMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CorporateDebtSecuritiesMember2022-03-310000203596us-gaap:ResidentialPortfolioSegmentMember2021-12-310000203596wsbc:TrustAndInvestmentServicesMember2022-03-310000203596us-gaap:CommonStockMember2022-01-012022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596wsbc:AccruingTdrsMemberus-gaap:ResidentialPortfolioSegmentMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-03-310000203596us-gaap:CriticizedMemberwsbc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-01-012022-03-310000203596us-gaap:FairValueInputsLevel1Member2022-03-310000203596us-gaap:CriticizedMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:NonAccrualTdrsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-01-012022-03-310000203596us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityMember2022-03-310000203596us-gaap:PassMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:HomeEquityMember2022-03-310000203596wsbc:InterestRateLoanCommitmentsMemberwsbc:MortgageBankingIncomeMember2022-01-012022-03-310000203596wsbc:NonAccrualLoansMember2021-12-310000203596us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-03-310000203596us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:HomeEquityMember2020-12-310000203596us-gaap:HomeEquityMember2021-12-310000203596us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-03-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2022-03-310000203596us-gaap:RetainedEarningsMember2021-01-012021-03-310000203596wsbc:TrailCommissionsMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel3Member2022-03-310000203596wsbc:TdrsMember2021-12-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-03-310000203596us-gaap:PreferredStockMember2022-03-3100002035962020-12-310000203596wsbc:ForwardTBAContractsMemberwsbc:MortgageBankingIncomeMember2021-01-012021-03-310000203596wsbc:AnnuityCommissionsMember2021-01-012021-03-310000203596us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596wsbc:DepositOverdraftMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel2Member2022-03-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMember2021-12-3100002035962022-04-270000203596us-gaap:HomeEquityMember2021-03-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596wsbc:UsGovernmentSecuritiesAndMortgageBackedAndCollateralizedSecuritiesIssuedByDirectGovernmentalEntityOrGovernmentSponsoredEntityMember2022-01-012022-03-310000203596us-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityMember2021-12-310000203596wsbc:WesMarkFeesMember2022-01-012022-03-310000203596us-gaap:CommercialPortfolioSegmentMember2022-03-310000203596us-gaap:OtherContractMemberwsbc:InterestRateLoanCommitmentsMember2021-12-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2021-12-310000203596us-gaap:FinancialAssetPastDueMemberus-gaap:HomeEquityMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000203596us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000203596wsbc:CommercialAndIndustrialMember2021-03-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596wsbc:WesMarkFeesMember2021-01-012021-03-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596us-gaap:ResidentialPortfolioSegmentMember2022-03-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMember2022-03-310000203596us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000203596us-gaap:CorporateDebtSecuritiesMember2022-03-310000203596us-gaap:CorporateDebtSecuritiesMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2021-01-012021-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2022-03-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMember2022-03-310000203596us-gaap:FinancialAssetNotPastDueMember2021-12-310000203596wsbc:TdrsMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596wsbc:TrustAndInvestmentServicesMemberus-gaap:CustomerRelatedIntangibleAssetsMember2022-03-310000203596srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-03-310000203596us-gaap:InterestRateSwapMemberus-gaap:OtherIncomeMember2021-01-012021-03-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2022-03-310000203596wsbc:ElectronicBankingFeesMember2022-01-012022-03-310000203596us-gaap:ResidentialPortfolioSegmentMember2021-01-012021-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000203596us-gaap:CriticizedMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596wsbc:PaymentProcessingFeesMember2021-01-012021-03-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CorporateDebtSecuritiesMember2021-03-310000203596us-gaap:AccountingStandardsUpdate201613Member2021-12-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596wsbc:TrustAccountFeesMember2021-01-012021-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000203596us-gaap:CommercialMortgageBackedSecuritiesMember2022-03-310000203596us-gaap:TreasuryStockMember2022-01-012022-03-310000203596wsbc:CommercialAndIndustrialMember2021-12-310000203596us-gaap:InterestRateSwapMember2022-01-012022-03-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:HomeEquityMember2022-03-310000203596us-gaap:CommonStockMember2022-03-310000203596wsbc:CommercialAndIndustrialExcludingPaycheckProtectionProgramMember2021-12-310000203596us-gaap:InterestRateSwapMember2021-01-012021-03-310000203596us-gaap:PassMemberus-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596wsbc:RiskParticipationOutAgreementMember2021-12-310000203596us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596us-gaap:DeferredCompensationShareBasedPaymentsMember2021-12-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310000203596us-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-12-310000203596us-gaap:RestrictedStockMember2022-01-012022-03-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CorporateDebtSecuritiesMember2020-12-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:HomeEquityMember2022-03-310000203596us-gaap:DeferredCompensationShareBasedPaymentsMember2022-01-012022-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2022-03-310000203596us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2021-12-310000203596us-gaap:AdditionalPaidInCapitalMember2021-03-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2022-03-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2022-01-012022-03-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:HomeEquityMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:PassMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:CorporateDebtSecuritiesMember2021-01-012021-03-310000203596us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-03-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-12-310000203596us-gaap:AccountingStandardsUpdate201613Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-03-310000203596us-gaap:DeferredCompensationShareBasedPaymentsMember2021-03-310000203596wsbc:AccruingTdrsMember2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:ConsumerPortfolioSegmentMember2020-12-310000203596wsbc:GrantorTrustsMember2022-03-310000203596wsbc:TdrsMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberwsbc:NonAccrualLoansMember2021-12-310000203596wsbc:CommercialAndIndustrialMember2021-01-012021-03-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000203596us-gaap:AdditionalPaidInCapitalMember2022-03-310000203596wsbc:DepositOverdraftMember2021-12-310000203596us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310000203596us-gaap:RetainedEarningsMember2020-12-310000203596us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596us-gaap:FairValueMeasurementsRecurringMember2022-03-310000203596us-gaap:InterestRateSwapMember2021-12-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-03-310000203596wsbc:CommercialAndIndustrialMembersrt:MaximumMember2022-01-012022-03-310000203596wsbc:NonAccrualTdrsMemberus-gaap:ResidentialPortfolioSegmentMember2021-12-310000203596us-gaap:CommercialMortgageBackedSecuritiesMember2021-12-310000203596us-gaap:TreasuryStockMember2021-12-310000203596us-gaap:FinancingReceivables30To59DaysPastDueMemberwsbc:TdrsMember2021-12-310000203596us-gaap:CommonStockMember2021-12-310000203596wsbc:FinancingReceivablesCurrentPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberwsbc:TdrsMember2021-12-310000203596us-gaap:NonperformingFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:PassMember2022-03-310000203596us-gaap:CommercialRealEstatePortfolioSegmentMember2022-03-310000203596us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:TreasuryStockMember2022-03-310000203596us-gaap:DeferredCompensationShareBasedPaymentsMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-03-310000203596wsbc:FinancingReceivablesCurrentPastDueMemberus-gaap:HomeEquityMember2022-03-310000203596wsbc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2022-03-310000203596wsbc:MortgageMember2022-01-012022-03-310000203596us-gaap:CriticizedMemberwsbc:CommercialAndIndustrialMember2021-12-310000203596wsbc:AccumulatedUnrealizedGainsLossesOnSecuritiesAvailableForSaleMember2020-12-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000203596us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000203596wsbc:CommercialRealEstateLandAndConstructionMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2022-03-310000203596us-gaap:RealEstateLoanMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000203596wsbc:AccruingTdrsMember2022-03-310000203596wsbc:NonAccrualLoansMemberus-gaap:FinancialAssetPastDueMember2021-12-310000203596us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000203596wsbc:CommunityBankingMember2022-01-012022-03-310000203596us-gaap:TreasuryStockMember2020-12-31wsbc:Loaniso4217:USDxbrli:sharesxbrli:purewsbc:Segmentwsbc:Holdingwsbc:Borrowerxbrli:shareswsbc:Contractwsbc:Securityiso4217:USDwsbc:Derivative

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

☒

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2022

 

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from to

Commission File Number 001-39442

 

WESBANCO, INC.

(Exact name of Registrant as specified in its charter)

 

West Virginia

 

55-0571723

(State of incorporation)

 

(IRS Employer Identification No.)

 

 

 

1 Bank Plaza, Wheeling, WV

 

26003

(Address of principal executive offices)

 

(Zip Code)

 

Registrant's telephone number, including area code: 304-234-9000

 

NOT APPLICABLE

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock $2.0833 Par Value

WSBC

NASDAQ Global Select Market

Depositary Shares (each representing 1/40th interest in a share of 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A)

WSBCP

 

NASDAQ Global Select Market

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

☑

 

Accelerated filer

☐

Non-accelerated filer

☐

 

Smaller reporting company

☐

 

 

 

Emerging growth company

☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of April 27, 2022, there were 60,274,414 shares of Wesbanco, Inc. common stock, $2.0833 par value, outstanding.

 

 

 

WESBANCO, INC.

TABLE OF CONTENTS

 

Item

No.

ITEM

Page

No.

 

 

 

 

PART I - FINANCIAL INFORMATION

 

1

Financial Statements

2

 

Consolidated Balance Sheets at March 31, 2022 (unaudited) and December 31, 2021

2

 

Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2022 and 2021 (unaudited)

3

 

Consolidated Statements of Changes in Shareholders' Equity for the three months ended March 31, 2022 and 2021 (unaudited)

4

 

Consolidated Condensed Statements of Cash Flows for the three months ended March 31, 2022 and 2021 (unaudited)

5

 

Notes to Consolidated Financial Statements (unaudited)

6

 

 

 

2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

31

 

 

 

3

Quantitative and Qualitative Disclosures About Market Risk

50

 

 

 

4

Controls and Procedures

52

 

 

 

 

PART II – OTHER INFORMATION

 

1

Legal Proceedings

53

 

 

 

2

Unregistered Sales of Equity Securities and Use of Proceeds

53

 

 

 

6

Exhibits

54

 

 

 

 

Signatures

55

 

1

 

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

WESBANCO, INC. CONSOLIDATED BALANCE SHEETS

 

 

 

March 31,

 

 

December 31,

 

(unaudited, in thousands, except shares)

 

2022

 

 

2021

 

ASSETS

 

 

 

 

 

 

Cash and due from banks, including interest bearing amounts of $1,168,985 and $1,094,312, respectively

 

$

1,369,498

 

 

$

1,251,358

 

Securities:

 

 

 

 

 

 

Equity securities, at fair value

 

 

12,757

 

 

 

13,466

 

Available-for-sale debt securities, at fair value

 

 

2,911,373

 

 

 

3,013,462

 

Held-to-maturity debt securities (fair values of $1,092,993 and $1,028,452, respectively)

 

 

1,157,202

 

 

 

1,004,823

 

Allowance for credit losses, held-to-maturity debt securities

 

 

(285

)

 

 

(268

)

       Net held-to-maturity debt securities

 

 

1,156,917

 

 

 

1,004,555

 

Total securities

 

 

4,081,047

 

 

 

4,031,483

 

Loans held for sale

 

 

15,959

 

 

 

25,277

 

Portfolio loans, net of unearned income

 

 

9,733,272

 

 

 

9,733,478

 

Allowance for credit losses - loans

 

 

(117,865

)

 

 

(121,622

)

Net portfolio loans

 

 

9,615,407

 

 

 

9,611,856

 

Premises and equipment, net

 

 

219,907

 

 

 

229,016

 

Accrued interest receivable

 

 

60,370

 

 

 

60,844

 

Goodwill and other intangible assets, net

 

 

1,149,035

 

 

 

1,151,634

 

Bank-owned life insurance

 

 

348,179

 

 

 

350,359

 

Other assets

 

 

244,613

 

 

 

215,298

 

Total Assets

 

$

17,104,015

 

 

$

16,927,125

 

LIABILITIES

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

Non-interest bearing demand

 

$

4,670,520

 

 

$

4,590,895

 

Interest bearing demand

 

 

3,405,610

 

 

 

3,380,056

 

Money market

 

 

1,831,683

 

 

 

1,739,750

 

Savings deposits

 

 

2,679,053

 

 

 

2,562,510

 

Certificates of deposit

 

 

1,211,008

 

 

 

1,292,652

 

Total deposits

 

 

13,797,874

 

 

 

13,565,863

 

Federal Home Loan Bank borrowings

 

 

123,898

 

 

 

183,920

 

Other short-term borrowings

 

 

158,538

 

 

 

141,893

 

Subordinated debt and junior subordinated debt

 

 

280,743

 

 

 

132,860

 

Total borrowings

 

 

563,179

 

 

 

458,673

 

Accrued interest payable

 

 

1,786

 

 

 

1,901

 

Other liabilities

 

 

193,860

 

 

 

207,522

 

Total Liabilities

 

 

14,556,699

 

 

 

14,233,959

 

SHAREHOLDERS' EQUITY

 

 

 

 

 

 

Preferred stock, no par value, 1,000,000 shares authorized; 150,000 shares 6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference $150,000,000, issued and outstanding at March 31, 2022 and December 31, 2021, respectively

 

 

144,484

 

 

 

144,484

 

Common stock, $2.0833 par value; 100,000,000 shares authorized; 68,081,306 shares issued; 60,613,414 and 62,307,245 shares outstanding at March 31, 2022 and December 31, 2021, respectively

 

 

141,834

 

 

 

141,834

 

Capital surplus

 

 

1,636,705

 

 

 

1,635,642

 

Retained earnings

 

 

998,315

 

 

 

977,765

 

Treasury stock (7,467,892 and 5,774,061 shares - at cost, respectively)

 

 

(261,012

)

 

 

(199,759

)

Accumulated other comprehensive loss

 

 

(111,312

)

 

 

(5,120

)

Deferred benefits for directors

 

 

(1,698

)

 

 

(1,680

)

Total Shareholders' Equity

 

 

2,547,316

 

 

 

2,693,166

 

Total Liabilities and Shareholders' Equity

 

$

17,104,015

 

 

$

16,927,125

 

 

See Notes to Consolidated Financial Statements.

2

 

WESBANCO, INC. CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

 

 

 

For the Three Months
Ended March 31,

 

(unaudited, in thousands, except shares and per share amounts)

 

2022

 

 

2021

 

INTEREST AND DIVIDEND INCOME

 

 

 

 

 

 

Loans, including fees

 

$

93,121

 

 

$

109,358

 

Interest and dividends on securities:

 

 

 

 

 

 

Taxable

 

 

14,112

 

 

 

11,127

 

Tax-exempt

 

 

4,344

 

 

 

3,910

 

Total interest and dividends on securities

 

 

18,456

 

 

 

15,037

 

Other interest income

 

 

597

 

 

 

659

 

Total interest and dividend income

 

 

112,174

 

 

 

125,054

 

INTEREST EXPENSE

 

 

 

 

 

 

Interest bearing demand deposits

 

 

811

 

 

 

1,043

 

Money market deposits

 

 

321

 

 

 

578

 

Savings deposits

 

 

264

 

 

 

264

 

Certificates of deposit

 

 

1,273

 

 

 

2,370

 

Total interest expense on deposits

 

 

2,669

 

 

 

4,255

 

Federal Home Loan Bank borrowings

 

 

575

 

 

 

2,414

 

Other short-term borrowings

 

 

48

 

 

 

118

 

Subordinated debt and junior subordinated debt

 

 

1,171

 

 

 

1,789

 

Total interest expense

 

 

4,463

 

 

 

8,576

 

NET INTEREST INCOME

 

 

107,711

 

 

 

116,478

 

Provision for credit losses

 

 

(3,438

)

 

 

(27,958

)

Net interest income after provision for credit losses

 

 

111,149

 

 

 

144,436

 

NON-INTEREST INCOME

 

 

 

 

 

 

Trust fees

 

 

7,835

 

 

 

7,631

 

Service charges on deposits

 

 

6,090

 

 

 

4,894

 

Electronic banking fees

 

 

5,345

 

 

 

4,365

 

Net securities brokerage revenue

 

 

2,220

 

 

 

1,524

 

Bank-owned life insurance

 

 

3,881

 

 

 

1,709

 

Mortgage banking income

 

 

1,923

 

 

 

4,264

 

Net securities (losses) gains

 

 

(650

)

 

 

279

 

Net (loss) gain on other real estate owned and other assets

 

 

(806

)

 

 

175

 

Other income

 

 

4,544

 

 

 

8,367

 

Total non-interest income

 

 

30,382

 

 

 

33,208

 

NON-INTEREST EXPENSE

 

 

 

 

 

 

Salaries and wages

 

 

38,937

 

 

 

36,890

 

Employee benefits

 

 

9,158

 

 

 

10,266

 

Net occupancy

 

 

7,234

 

 

 

7,177

 

Equipment and software

 

 

8,011

 

 

 

6,765

 

Marketing

 

 

2,421

 

 

 

2,384

 

FDIC insurance

 

 

1,522

 

 

 

1,282

 

Amortization of intangible assets

 

 

2,598

 

 

 

2,896

 

Restructuring and merger-related expense

 

 

1,593

 

 

 

851

 

Other operating expenses

 

 

16,074

 

 

 

17,816

 

Total non-interest expense

 

 

87,548

 

 

 

86,327

 

Income before provision for income taxes

 

 

53,983

 

 

 

91,317

 

Provision for income taxes

 

 

9,859

 

 

 

18,202

 

Net income

 

 

44,124

 

 

 

73,115

 

Preferred stock dividends

 

 

2,531

 

 

 

2,531

 

Net income available to common shareholders

 

$

41,593

 

 

$

70,584

 

EARNINGS PER COMMON SHARE

 

 

 

 

 

 

Basic

 

$

0.68

 

 

$

1.05

 

Diluted

 

$

0.68

 

 

$

1.05

 

AVERAGE COMMON SHARES OUTSTANDING

 

 

 

 

 

 

Basic

 

 

61,445,399

 

 

 

67,263,714

 

Diluted

 

 

61,593,365

 

 

 

67,355,418

 

DIVIDENDS DECLARED PER COMMON SHARE

 

$

0.34

 

 

$

0.33

 

 

 

 

 

 

 

 

COMPREHENSIVE (LOSS) INCOME

 

$

(62,068

)

 

$

51,559

 

 

See Notes to Consolidated Financial Statements.

3

 

WESBANCO, INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

 

 

 

For the Three Months Ended March 31, 2022 and 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

Preferred

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

Deferred

 

 

 

 

(unaudited, in thousands, except

 

Stock

 

 

Shares

 

 

 

 

 

Capital

 

 

Retained

 

 

Treasury

 

 

Comprehensive

 

 

Benefits for

 

 

 

 

   shares and per share amounts)

 

Amount

 

 

Outstanding

 

 

Amount

 

 

Surplus

 

 

Earnings

 

 

Stock

 

 

Income (Loss)

 

 

Directors

 

 

Total

 

December 31, 2021

 

$

144,484

 

 

 

62,307,245

 

 

$

141,834

 

 

$

1,635,642

 

 

$

977,765

 

 

$

(199,759

)

 

$

(5,120

)

 

$

(1,680

)

 

$

2,693,166

 

Net income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

44,124

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

44,124

 

Other comprehensive loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(106,192

)

 

 

—

 

 

 

(106,192

)

Comprehensive loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(62,068

)

Common dividends declared ($0.34 per share)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(20,538

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(20,538

)

Preferred dividends declared ($16.875 per share)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,531

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,531

)

Stock issued for dividend reinvestment

 

 

—

 

 

 

14,531

 

 

 

—

 

 

 

—

 

 

 

(505

)

 

 

505

 

 

 

—

 

 

 

—

 

 

 

—

 

Treasury shares acquired

 

 

—

 

 

 

(1,724,571

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(62,323

)

 

 

—

 

 

 

—

 

 

 

(62,323

)

Stock options exercised

 

 

—

 

 

 

16,209

 

 

 

—

 

 

 

(192

)

 

 

—

 

 

 

565

 

 

 

—

 

 

 

—

 

 

 

373

 

Stock compensation expense

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,241

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,241

 

Deferred benefits for directors- net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(18

)