WesBanco, Inc. reported net income available to common shareholders of $47.1 million, or $0.70 per share, for the fourth quarter of 2024. Adjusted net income, excluding restructuring and merger-related expenses, was $47.6 million, or $0.71 per share, exceeding Wall Street expectations.
For the full year 2024, adjusted net income available to common shareholders was $146.4 million, or $2.34 per share. The company achieved strong loan growth of $1.0 billion, or 8.7% year-over-year, fully funded by a $1.0 billion increase in deposits, which grew 7.3% year-over-year.
The net interest margin improved to 3.03% in Q4 2024, an 8 basis point increase sequentially, driven by higher loan and securities yields and lower funding costs. Non-interest income also saw a significant rise of 21.0% year-over-year to $36.4 million, partly due to a $2.3 million gain from a pension liability transfer. WesBanco maintained strong regulatory capital ratios, with Tier I leverage at 10.68% and tangible common equity to tangible assets at 8.70%.
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