Business Segments

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Business Segments

NOTE 9. BUSINESS SEGMENTS

WesBanco operates two reportable segments: community banking as well as 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 mutual funds. The market value of assets managed or held in custody by the trust and investment services segment was approximately $3.8 billion and $3.4 billion at June 30, 2014 and 2013, 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, 2014:
Interest income	$	54,044	$	—	$	54,044
Interest expense		5,737		—		5,737
Net interest income		48,307		—		48,307
Provision for credit losses		849		—		849
Net interest income after provision for credit losses		47,458		—		47,458
Non-interest income		13,031		5,210		18,241
Non-interest expense		37,367		2,937		40,304
Income before provision for income taxes		23,122		2,273		25,395
Provision for income taxes		5,611		909		6,520
Net income	$	17,511	$	1,364	$	18,875
For the Three Months ended June 30, 2013:
Interest income	$	54,424	$	—	$	54,424
Interest expense		8,435		—		8,435
Net interest income		45,989		—		45,989
Provision for credit losses		1,021		—		1,021
Net interest income after provision for credit losses		44,968		—		44,968
Non-interest income		12,901		4,823		17,724
Non-interest expense		36,620		2,879		39,499
Income before provision for income taxes		21,249		1,944		23,193
Provision for income taxes		5,399		777		6,176
Net income	$	15,850	$	1,167	$	17,017
For the Six Months ended June 30, 2014:
Interest income	$	107,501	$	—	$	107,501
Interest expense		11,870		—		11,870
Net interest income		95,631		—		95,631
Provision for credit losses		3,048		—		3,048
Net interest income after provision for credit losses		92,583		—		92,583
Non-interest income		24,432		10,858		35,290
Non-interest expense		74,193		6,205		80,398
Income before provision for income taxes		42,822		4,653		47,475
Provision for income taxes		10,318		1,861		12,179
Net income	$	32,504	$	2,792	$	35,296
For the Six Months ended June 30, 2013:
Interest income	$	109,317	$	—	$	109,317
Interest expense		17,199		—		17,199
Net interest income		92,118		—		92,118
Provision for credit losses		3,123		—		3,123
Net interest income after provision for credit losses		88,995		—		88,995
Non-interest income		25,380		9,840		35,220
Non-interest expense		74,372		5,874		80,246
Income before provision for income taxes		40,003		3,966		43,969
Provision for income taxes		9,346		1,586		10,932
Net income	$	30,657	$	2,380	$	33,037

Total non-fiduciary assets of the trust and investment services segment were $3.9 million and $3.1 million at June 30, 2014 and 2013, respectively. All goodwill and other intangible assets were allocated to the community banking segment.