WesBanco reports Q2 adjusted EPS 91c, consensus 85c

Net interest margin of 3.59% increased 24 basis points sequentially, as PFC benefited the margin by approximately 37 basis points through interest mark accretion, the first quarter’s securities restructuring, and lower funding costs. “Our second quarter results demonstrate the success of our acquisition of Premier and strong operational performance. Our larger organization delivered solid sequential quarter loan growth while driving positive operating leverage. We also meaningfully improved both our net interest margin and efficiency ratio, further demonstrating our focus on operational excellence for our shareholders,” said Jeff Jackson, President and Chief Executive Officer, WesBanco (WSBC). “We marked another significant milestone this quarter as we successfully transitioned approximately 400,000 consumer and 50,000 business relationships, along with the branding and operations of approximately 70 financial centers from Premier to WesBanco. We are excited by the customer reception and retention and are focused on building even stronger relationships with our new customers, businesses, and communities.”