Wesbanco files mixed securities shelf

Wesbanco files mixed securities shelf

Wesbanco Completes $230 Million Preferred Stock Offering Under Shelf Registration

On September 10, 2025, Wesbanco, Inc. (NASDAQ: WSBC) announced the pricing of a $230 million underwritten public offering of depositary shares, each representing a 1/40th interest in its newly issued 7.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”). The offering includes 9.2 million depositary shares, with a liquidation preference of $25 per depositary share ($1,000 per whole share). Dividends will accrue quarterly, initially at 7.375% annually until October 1, 2030, after which the rate will reset to the five-year U.S. Treasury rate plus 3.795%. Wesbanco may redeem the shares on or after October 1, 2030, at par plus accrued dividends.

The company plans to use approximately $150 million of the net proceeds to redeem its outstanding 6.75% Series A Preferred Stock and related depositary shares, while $50 million will retire its 4.0% Fixed-To-Floating Rate Subordinated Notes due 2030, acquired through its merger with Premier Financial Corporation. Remaining proceeds will fund general corporate purposes, including debt refinancing, capital expenditures, and potential acquisitions.

The offering, managed by Keefe, Bruyette & Woods, RBC Capital Markets, Raymond James, and D.A. Davidson & Co., closed on or about September 17, 2025, under an effective shelf registration statement on Form S-3 (File No. 333-270051) filed with the SEC. The depositary shares are expected to list on the Nasdaq Global Select Market under the symbol “WSBCPB.”

Wesbanco’s SEC filings and investor disclosures highlight the transaction’s alignment with its capital management strategy, though risks related to interest rate fluctuations, regulatory changes, and integration of acquired entities remain. The offering underscores the company’s focus on optimizing its capital structure while supporting long-term operational goals.

Wesbanco Announces Pricing of $230 Million Offering of Depositary Shares Representing Interests in Preferred Stock, September 10, 2025: Wesbanco Announces Pricing of $230 Million Offering of Depositary Shares Representing Interests in Preferred Stock, September 10, 2025.