Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 and December 31, 2023:

	March 31, 2024						December 31, 2023
(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	$	1,611,918	$	78,211	$	78,312	$	1,573,152	$	72,183	$	73,083
Other contracts:
Interest rate lock commitments		23,009		58		—		16,524		84		—
Forward TBA contracts		26,500		—		3		27,000		—		205
Total derivatives			$	78,269	$	78,315			$	72,267	$	73,288

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 months ended March 31, 2024 and 2023, respectively.

		For the Three Months Ended March 31,
(unaudited, in thousands)	Location of Gain/(Loss)	2024			2023
Interest rate swaps and caps	Net swap fee and valuation income	$	798		$	(1,039	)
Interest rate lock commitments	Mortgage banking income		(26	)		187
Forward TBA contracts	Mortgage banking income		48			(189	)
Total		$	820		$	(1,041	)