Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis

The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of June 30, 2014 and December 31, 2013:

			June 30, 2014
			Fair Value Measurements Using:
(unaudited, in thousands)	June 30, 2014		Quoted Prices in Active  Markets for Identical Assets (level 1)		Significant  Other Observable Inputs (level 2)		Significant Unobservable Inputs (level 3)
Recurring fair value measurements
Securities - available-for-sale
Obligations of government agencies	$	78,902	$	—	$	78,902	$	—
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies		767,482		—		767,482		—
Obligations of state and political subdivisions		110,239		—		110,239		—
Corporate debt securities		36,892		—		36,892		—
Equity securities		12,564		10,558		2,006		—
Total securities - available-for-sale	$	1,006,079	$	10,558	$	995,521	$	—
Total recurring fair value measurements	$	1,006,079	$	10,558	$	995,521	$	—
Nonrecurring fair value measurements
Impaired loans	$	1,618	$	—	$	—	$	1,618
Other real estate owned and repossessed assets		5,106		—		—		5,106
Loans held for sale		10,641		—		10,641		—
Total nonrecurring fair value measurements	$	17,365	$	—	$	10,641	$	6,724

			December 31, 2013
			Fair Value Measurements Using:
(unaudited, in thousands)	December 31, 2013		Quoted Prices in Active  Markets for Identical Assets (level 1)		Significant  Other Observable Inputs (level 2)		Significant Unobservable Inputs (level 3)
Recurring fair value measurements
Securities - available-for-sale
Obligations of government agencies	$	73,232	$	—	$	73,232	$	—
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies		694,267		—		694,267		—
Obligations of state and political subdivisions		116,346		—		116,346		—
Corporate debt securities		38,481		—		38,481		—
Equity securities		12,060		9,962		2,098		—
Total securities - available-for-sale	$	934,386	$	9,962	$	924,424	$	—
Total recurring fair value measurements	$	934,386	$	9,962	$	924,424	$	—
Nonrecurring fair value measurements
Impaired loans	$	1,543	$	—	$	—	$	1,543
Other real estate owned and repossessed assets		4,860		—		—		4,860
Loans held for sale		5,855		—		5,855		—
Total nonrecurring fair value measurements	$	12,258	$	—	$	5,855	$	6,403

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value:

	Quantitative Information about Level 3 Fair Value Measurements
(unaudited, in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range / Weighted Average
June 30, 2014
Impaired loans	$	1,618	Appraisal of collateral (1)	Appraisal adjustments (2)	0% to (36.1%) / (22.7%)
				Liquidation expenses (2)	(1.0%) to (8.0%) / (3.7%)
Other real estate owned and repossessed assets		5,106	Appraisal of collateral (1), (3)
December 31, 2013:
Impaired loans	$	1,543	Appraisal of collateral (1)	Appraisal adjustments (2)	0% to (29.1%) / (15.6%)
				Liquidation expenses (2)	(3.5%) to (8.0%) / (4.7%)
Other real estate owned and repossessed assets		4,860	Appraisal of collateral (1), (3)

⁽¹⁾ Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

⁽²⁾  Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal.

⁽³⁾  Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable.

Estimates Fair Value of Financial Instruments

The estimated fair values of WesBanco’s financial instruments are summarized below:

					Fair Value Measurements
(unaudited in thousands)	Carrying Amount		Fair Value Estimate		Quoted Prices in Active  Markets for Identical Assets (level 1)		Significant  Other Observable Inputs (level 2)		Significant Unobservable Inputs (level 3)
June 30, 2014
Financial Assets
Cash and due from banks	$	94,488	$	94,488	$	94,488	$	—	$	—
Securities available-for-sale		1,006,079		1,006,079		10,558		995,521		—
Securities held-to-maturity		607,695		628,540		—		627,805		735
Net loans		3,900,377		3,784,772		—		—		3,784,772
Loans held for sale		10,641		10,641		—		10,641		—
Accrued interest receivable		19,087		19,087		19,087		—		—
Bank-owned life insurance		121,878		121,878		121,878		—		—
Financial Liabilities
Deposits		5,117,403		5,127,522		3,691,573		1,435,949		—
Federal Home Loan Bank borrowings		138,596		141,126		—		141,126		—
Other borrowings		94,745		96,661		68,475		28,186		—
Junior subordinated debt		106,156		77,075		—		77,075		—
Accrued interest payable		2,306		2,306		2,306		—		—
December 31, 2013:
Financial Assets
Cash and due from banks	$	95,551	$	95,551	$	95,551	$	—	$	—
Securities available-for-sale		934,386		934,386		9,962		924,424		—
Securities held-to-maturity		598,520		596,308		—		595,581		727
Net loans		3,847,549		3,754,465		—		—		3,754,465
Loans held for sale		5,855		5,855		—		5,855		—
Accrued interest receivable		18,960		18,960		18,960		—		—
Bank-owned life insurance		121,390		121,390		121,390		—		—
Financial Liabilities
Deposits		5,062,530		5,076,207		3,551,052		1,525,155		—
Federal Home Loan Bank borrowings		39,508		42,314		—		42,314		—
Other borrowings		150,536		153,015		104,196		48,819		—
Junior subordinated debt		106,137		74,038		—		74,038		—
Accrued interest payable		2,354		2,354		2,354		—		—