Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Values of Derivative Instruments on Balance Sheets

The table below presents the fair value of Wesbanco’s derivative financial instruments as well as their classification on the Balance Sheet as of September 30, 2023 and December 31, 2022:

	September 30, 2023						December 31, 2022
(unaudited, in thousands)	Notional or Contractual Amount		Asset Derivatives		Liability Derivatives		Notional or Contractual Amount		Asset Derivatives		Liability Derivatives
Derivatives
Loan Swaps:
Interest rate swaps and caps	$	1,371,993	$	97,215	$	95,567	$	936,834	$	75,840	$	74,683
Other contracts:
Interest rate lock commitments		21,505		—		77		10,071		—		43
Forward TBA contracts		29,500		209		—		14,500		53		—
Total derivatives			$	97,424	$	95,644			$	75,893	$	74,726

Summary of Effect of Derivative Instruments on Income Statement

The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within non-interest income on the consolidated income statement for the three and nine months ended September 30, 2023 and 2022, respectively.

		For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(unaudited, in thousands)	Location of Gain/(Loss)	2023		2022			2023			2022
Interest rate swaps and caps	Net swap fee and valuation income	$	1,352	$	786		$	489		$	3,389
Interest rate lock commitments	Mortgage banking income		94		(491	)		(34	)		(447	)
Forward TBA contracts	Mortgage banking income		422		1,147			870			3,195
Total		$	1,868	$	1,442		$	1,325		$	6,137