WesBanco, Inc. announced its first-quarter 2025 financial results, reporting a GAAP net loss available to common shareholders of $11.5 million, or $(0.15) per share. This loss primarily reflects a day one provision for credit losses of $59.4 million and other expenses related to the Premier Financial Corp. acquisition.
Excluding these non-recurring acquisition-related impacts, adjusted net income available to common shareholders was $51.2 million, or $0.66 per share, compared to $33.2 million, or $0.56 per share, in the prior year period. The acquisition significantly expanded WesBanco's balance sheet, with total assets increasing 54.2% year-over-year to $27.4 billion.
Total portfolio loans grew 57.3% year-over-year to $18.7 billion, including $5.9 billion from Premier and $0.9 billion in organic growth. Total deposits increased 57.8% year-over-year to $21.3 billion, with $6.9 billion from Premier and strong organic growth. The net interest margin improved by 32 basis points sequentially to 3.35%, benefiting from purchase accounting accretion and securities restructuring related to the acquisition.
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