WesBanco reports Q3 EPS 58c, consensus 59c

Reports Q3 provision for credit losses $6.3M vs. a release of provision of $0.5M last year. Tangible book value was $19.82 from $18.84 at previous quarter end. “For Q3, WesBanco returned deposit balances to year-end 2022 levels and delivered another quarter of year-over-year loan growth at 10%, while maintaining strong credit quality metrics. Our solid financial results for the quarter reflect the strength of our franchise and the competitiveness of our growth strategies and teams in the current environment,” said Jeff Jackson, CEO. “The strong adoption of our new WesBanco One account by new and existing customers, meaningful pipeline contributions from our latest loan production office in Chattanooga, and forthcoming treasury management offerings to support commercial customers are all proof points of our commitment to innovation and investments that serve customers better and drive sustainable growth. We remain focused on disciplined expense management and generating positive operating leverage. And, I believe in the long-term growth prospects we are building for our customers, communities, employees and shareholders.”