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Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2024
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 June 30,

 

 

For the Six Months
Ended June 30,

 

(unaudited, in thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service cost – benefits earned during year

 

$

330

 

 

$

354

 

 

$

660

 

 

$

704

 

Interest cost on projected benefit obligation

 

 

1,603

 

 

 

1,572

 

 

 

3,206

 

 

 

3,126

 

Expected return on plan assets

 

 

(2,599

)

 

 

(2,781

)

 

 

(5,198

)

 

 

(5,531

)

Amortization of prior service cost

 

 

(8

)

 

 

(9

)

 

 

(17

)

 

 

(18

)

Amortization of net loss

 

 

21

 

 

 

225

 

 

 

42

 

 

 

448

 

Net periodic pension income

 

$

(653

)

 

$

(639

)

 

$

(1,307

)

 

$

(1,271

)