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Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Pension Plan

The following table presents the net periodic pension income for Wesbanco’s Defined Benefit Pension Plan (the “Plan”) and the related components:

 

 

 

For the Three Months
Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

(unaudited, in thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Service cost – benefits earned during year

 

$

357

 

 

$

552

 

 

$

1,061

 

 

$

1,638

 

Interest cost on projected benefit obligation

 

 

1,589

 

 

 

1,037

 

 

 

4,715

 

 

 

3,076

 

Expected return on plan assets

 

 

(2,811

)

 

 

(2,917

)

 

 

(8,342

)

 

 

(8,655

)

Amortization of prior service cost

 

 

(9

)

 

 

(9

)

 

 

(27

)

 

 

(26

)

Amortization of net loss

 

 

227

 

 

 

128

 

 

 

675

 

 

 

379

 

Net periodic pension income

 

$

(647

)

 

$

(1,209

)

 

$

(1,918

)

 

$

(3,588

)