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Wesbanco Bank Community Development Corporation (Tables) - WBCDC [Member]
12 Months Ended
Dec. 31, 2022
Schedule of Condensed Balance Sheet

(in thousands)

 

December 31, 2022

 

Assets

 

 

 

Cash and due from banks

 

$

79,979

 

Loans, net of allowance for credit losses of $0.8 million

 

 

61,214

 

Other assets

 

 

3,494

 

Total Assets

 

$

144,687

 

Liabilities

 

$

1,117

 

Shareholder Equity

 

 

143,570

 

Total Liabilities and Shareholder Equity

 

$

144,687

 

Schedule of Condensed Income Statement

(in thousands)

 

For the Year Ended December 31, 2022

 

Interest income

 

 

 

Loans

 

$

1,360

 

Total interest income

 

 

1,360

 

Provision for credit losses

 

 

(43

)

Net interest income after provision for credit losses

 

 

1,403

 

Loss on investments

 

 

(1,044

)

Non-interest expense

 

 

298

 

Income before provision for income taxes

 

 

61

 

Provision for income taxes

 

 

(47

)

Net income

 

$

108

 

Schedule of Condensed Cash Flow Statement

(in thousands)

 

For the Year Ended December 31, 2022

 

Operating Activities

 

 

 

Net income

 

$

108

 

Provision for credit losses

 

 

(43

)

Loss on investments

 

 

1,044

 

Net change in other assets

 

 

(1,687

)

Net change in other liabilities

 

 

197

 

Net cash used in operating activities

 

 

(381

)

Investing Activities

 

 

 

Increase in loans

 

 

(4,654

)

Proceeds from sale of investments

 

 

4,373

 

Net cash used in investing activities

 

 

(281

)

Financing Activities

 

 

 

Qualified equity investment by parent company

 

 

12,500

 

Net cash provided by financing activities

 

 

12,500

 

Net increase in cash and cash equivalents

 

 

11,838

 

Cash and cash equivalents at beginning of year

 

 

68,141

 

Cash and cash equivalents at end of year

 

$

79,979