Business Segments

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Business Segments

NOTE 23. BUSINESS SEGMENTS

WesBanco operates two reportable segments: (i) Community Banking and (ii) 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 of the trust and investment services segment was approximately $3.7 billion, $3.6 billion and $3.8 billion at December 31, 2016, 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:

(in thousands)	Community Banking		Trust and Investment Services		Consolidated
For the year ended December 31, 2016:
Interest and dividend income	$	286,097	$	—	$	286,097
Interest expense		32,767		—		32,767
Net interest income		253,330		—		253,330
Provision for credit losses		8,478		—		8,478
Net interest income after provision for credit losses		244,852		—		244,852
Non-interest income		59,869		21,630		81,499
Non-interest expense		196,784		11,896		208,680
Income before provision for income taxes		107,937		9,734		117,671
Provision for income taxes		27,142		3,894		31,036
Net income	$	80,795	$	5,840	$	86,635
For the year ended December 31, 2015:
Interest and dividend income	$	261,712	$	—	$	261,712
Interest expense		24,725		—		24,725
Net interest income		236,987		—		236,987
Provision for credit losses		8,353		—		8,353
Net interest income after provision for credit losses		228,634		—		228,634
Non-interest income		52,566		21,900		74,466
Non-interest expense		181,821		12,102		193,923
Income before provision for income taxes		99,379		9,798		109,177
Provision for income taxes		24,496		3,919		28,415
Net income	$	74,883	$	5,879	$	80,762
For the year ended December 31, 2014:
Interest and dividend income	$	215,991	$	—	$	215,991
Interest expense		22,763		—		22,763
Net interest income		193,228		—		193,228
Provision for credit losses		6,405		—		6,405
Net interest income after provision for credit losses		186,823		—		186,823
Non-interest income		47,435		21,069		68,504
Non-interest expense		149,429		12,204		161,633
Income before provision for income taxes		84,829		8,865		93,694
Provision for income taxes		20,174		3,546		23,720
Net income	$	64,655	$	5,319	$	69,974

Total non-fiduciary assets of the trust and investment services segment were $4.3 million, $3.3 million, and $4.0 million at December 31, 2016, 2015, and 2014, respectively. All other assets, including goodwill and other intangible assets, were allocated to the Community Banking segment.