Q4 2024 WesBanco Inc Earnings Call Transcript
Key Points
- Wesbanco Inc (WSBC) reported strong loan growth of $1 billion, fully funded by deposit growth.
- The company achieved a compound annual loan growth rate of 9% over the past three years.
- Net interest margin improved and is expected to continue improving through 2025.
- The pending acquisition of Premier Financial Corp is on track, with regulatory approvals anticipated soon.
- Wesbanco Inc (WSBC) received national accolades for stability, trustworthiness, and workplace excellence.
- The company experienced an increase in non-performing loans and criticized and classified assets.
- There is a potential risk of increased commercial real estate payoffs, which could impact future loan growth.
- The provision for credit losses is subject to changes in macroeconomic forecasts and credit quality metrics.
- The company anticipates modest increases in marketing and FDIC expenses to support growth.
- The merger with Premier Financial Corp could lead to integration challenges and potential cost overruns.
Good afternoon and welcome to the WesBanco fourth quarter 2024 earnings conference call. (Operator Instructions). Please note this event is being recorded. I would now like to turn the conference over to John Iannone, Senior Vice President, Investor Relations. Please go ahead.
Thank you. Good afternoon and welcome to WesBanco Inc's fourth quarter 2024 earnings conference call. Leading the call today are Jeff Jackson, President and Chief Executive Officer and Dan Weiss, Senior Executive Vice President and Chief Financial Officer.
Today's call, an archive of which will be available on our website for one year contains forward-looking information. Cautionary statements about this information and reconciliations of non-GAAP measures are included in our earnings related materials issued yesterday afternoon, as well as our other SEC filings and investor materials. These materials are available on the investor relations section of our website westbank.com.
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