Business Segments

6 Months Ended

Jun. 30, 2012

Business Segments [Abstract]

BUSINESS SEGMENTS

NOTE 9. BUSINESS SEGMENTS

WesBanco operates two reportable segments: community banking and trust and investment services. WesBanco’s community banking segment offers services traditionally offered by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services. The trust and investment services segment offers trust services as well as various alternative investment products including mutual funds. The market value of assets managed or held in custody by the trust and investment services segment was approximately $3.1 billion and $3.0 billion at June 30, 2012 and 2011, respectively. These assets are held by WesBanco in fiduciary or agency capacities for their customers and therefore are not included as assets on WesBanco’s Consolidated Balance Sheets.

Condensed financial information by business segment is presented below:

(unaudited, in thousands)	Community Banking		Trust and Investment Services		Consolidated
For the Three Months ended June 30, 2012:
Interest income	$	52,545	$	—	$	52,545
Interest expense		11,005		—		11,005
Net interest income		41,540		—		41,540
Provision for credit losses		5,903		—		5,903
Net interest income after provision for credit losses		35,637		—		35,637
Non-interest income		11,636		4,258		15,894
Non-interest expense		33,446		2,638		36,084
Income before provision for income taxes		13,827		1,620		15,447
Provision for income taxes		2,802		647		3,449
Net income	$	11,025	$	973	$	11,998
For the Three Months ended June 30, 2011:
Interest income	$	57,042	$	—	$	57,042
Interest expense		13,989		—		13,989
Net interest income		43,053		—		43,053
Provision for credit losses		6,802		—		6,802
Net interest income after provision for credit losses		36,251		—		36,251
Non-interest income		10,744		4,272		15,016
Non-interest expense		33,208		2,495		35,703
Income before provision for income taxes		13,787		1,777		15,564
Provision for income taxes		2,935		711		3,646
Net income	$	10,852	$	1,066	$	11,918
For the Six Months ended June 30, 2012:
Interest income	$	106,226	$	—	$	106,226
Interest expense		22,855		—		22,855
Net interest income		83,371		—		83,371
Provision for credit losses		12,105		—		12,105
Net interest income after provision for credit losses		71,266		—		71,266
Non-interest income		22,204		9,011		31,215
Non-interest expense		66,254		5,495		71,749
Income before provision for income taxes		27,216		3,516		30,732
Provision for income taxes		5,338		1,406		6,744
Net income	$	21,878	$	2,110	$	23,988
For the Six Months ended June 30, 2011:
Interest income	$	113,139	$	—	$	113,139
Interest expense		28,610		—		28,610
Net interest income		84,529		—		84,529
Provision for credit losses		14,843		—		14,843
Net interest income after provision for credit losses		69,686		—		69,686
Non-interest income		20,487		9,034		29,521
Non-interest expense		66,122		5,072		71,194
Income before provision for income taxes		24,051		3,962		28,013
Provision for income taxes		4,269		1,585		5,854
Net income	$	19,782	$	2,377	$	22,159

Total non-fiduciary assets of the trust and investment services segment were $2.9 million and $2.6 million at June 30, 2012 and 2011, respectively. All goodwill and other intangible assets were allocated to the community banking segment.