WesBanco's Q4 2024 Earnings: A Tale of Loan and Deposit Growth

As an investor, I've always been drawn to banks that demonstrate strong, consistent growth. WesBanco, Inc. (WSBC) has certainly caught my attention with its impressive Q4 2024 earnings results. Let's dive into the key takeaways and explore what this means for the company's future.

WesBanco reported net income available to common shareholders of $47.1 million for the fourth quarter of 2024, with earnings per share (EPS) of $0.70. This represents a significant increase from the same period last year, with net income up by $14.7 million and EPS up by $0.15. The company's full-year net income was $141.4 million, with EPS of $2.26. These results highlight WesBanco's strong financial performance and growth potential.



One of the most notable aspects of WesBanco's Q4 2024 earnings is the company's impressive loan and deposit growth. Total loan growth was 8.7% year-over-year and 6.6% over the sequential quarter, annualized. This growth is particularly impressive, as it represents a $1 billion increase compared to the prior year, driven primarily by commercial loan growth. Deposits also grew by 7.3% year-over-year and 8.6% over the sequential quarter, annualized, reaching $14.1 billion. This growth is a testament to WesBanco's ability to attract and retain deposits, which is crucial for funding its loan portfolio.

WesBanco's commercial loan portfolio grew by 10.7% year-over-year and 8.5% quarter-over-quarter, annualized. This growth reflects the success of the bank's strategies and lower commercial real estate payoffs. The company's average loans to average deposits ratio was 89.2%, providing continued capacity to fund loan growth. This strong performance in the commercial lending sector is a positive sign for WesBanco's future growth prospects.

Another notable aspect of WesBanco's Q4 2024 earnings is the company's fee income growth. Fee income increased by $6.3 million, or 21%, year-over-year, reflecting growth in net swap fee and valuation income, trust fees, and service charges on deposits. This growth is attributed to new products and services and treasury management fees. By expanding its fee income, WesBanco can generate additional revenue streams and improve its overall financial performance.

WesBanco's acquisition of Premier Financial Corp. is another strategic move that aligns with the company's long-term growth strategy. The pending acquisition is expected to strengthen WesBanco's balance sheet and net interest margin, as well as deepen its client relationships and drive positive operating leverage. This merger is a testament to WesBanco's commitment to growth and expansion, and it has the potential to create synergies and strengthen the company's position in the market.

In conclusion, WesBanco's Q4 2024 earnings results demonstrate the company's strong financial performance and growth potential. With impressive loan and deposit growth, expanding fee income, and a strategic acquisition on the horizon, WesBanco is well-positioned to continue delivering value for its customers and stakeholders. As an investor, I'm excited to see what the future holds for this dynamic bank.