WesBanco reports Q4 EPS 55c, consensus 56c

Reports Q4 NII $119M, consensus $116.77M. Reports Q4 loan loss provision of $4.8M vs. $3.12M a year ago. Tangible book value per share was $21.28 from $19.82 at previous quarter end. “Record interest rate escalation by the Federal Reserve had a significant impact on all banks, including WesBanco. Despite that headwind, WesBanco performed well during 2023 through our continued focus on customer service and sustainable growth strategies. We achieved sustained loan, deposit, and fee income growth, while maintaining strong capital levels and credit quality,” said Jeff Jackson, CEO. “Our focus on further diversifying our revenue streams with new fee-based services is driving positive non-interest income trends. As we begin 2024, we remain well-capitalized with solid liquidity and a strong balance sheet to fund loan growth, positioning us well to continue generating value for our stakeholders.”