Business Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segments

NOTE 10. 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 $3.9 billion and $3.8 billion at March 31, 2015 and 2014, 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 March 31, 2015:
Interest income	$	60,379	$	—	$	60,379
Interest expense		5,424		—		5,424
Net interest income		54,955		—		54,955
Provision for credit losses		1,289		—		1,289
Net interest income after provision for credit losses		53,666		—		53,666
Non-interest income		12,137		6,053		18,190
Non-interest expense		50,278		3,163		53,441
Income before provision for income taxes		15,525		2,890		18,415
Provision for income taxes		3,372		1,156		4,528
Net income	$	12,153	$	1,734	$	13,887
For the Three Months ended March 31, 2014:
Interest income	$	53,457	$	—	$	53,457
Interest expense		6,132		—		6,132
Net interest income		47,325		—		47,325
Provision for credit losses		2,199		—		2,199
Net interest income after provision for credit losses		45,126		—		45,126
Non-interest income		11,401		5,648		17,049
Non-interest expense		36,827		3,268		40,095
Income before provision for income taxes		19,700		2,380		22,080
Provision for income taxes		4,707		952		5,659
Net income	$	14,993	$	1,428	$	16,421

Total non-fiduciary assets of the trust and investment services segment were $3.7 million and $4.0 million at March 31, 2015 and 2014, respectively. All other assets, including goodwill and other intangible assets, were allocated to the community banking segment.