WesBanco Announces Increased Earnings

                    WesBanco Announces Increased Earnings

PR Newswire

WHEELING, W.Va., Jan. 29, 2013

WHEELING, W.Va., Jan. 29, 2013 /PRNewswire/ -- Paul M. Limbert, President and
Chief Executive Officer of WesBanco, Inc. (NASDAQ Global Market: WSBC), a
Wheeling, West Virginia based multi-state bank holding company, today
announced increased earnings for the three and twelve months ended December
31, 2012.

For the twelve months ended December 31, 2012, net income was $49.5 million as
compared to $43.8 million for 2011, representing an increase of 13.1%, while
diluted earnings per share were $1.84, as compared to $1.65 per share for
2011. Net income, excluding restructuring and merger-related expenses, was
$52.1 million compared to $43.8 million for 2011, representing an increase of
18.9%, while diluted earnings per share, excluding restructuring and
merger-related expenses, were $1.94 (non-GAAP measure), compared to $1.65 per
share for 2011.

During the year, WesBanco had many accomplishments, including the acquisition
of Fidelity Bancorp, Inc. ("Fidelity"), a reduction in non-performing loans,
elimination of certain unprofitable branches, growth in non-interest income,
and increased loan originations and outstanding loan balances, while
maintaining strong capital ratios. As of November 30, 2012, WesBanco
completed the acquisition of Fidelity, a Pittsburgh-based bank. Fidelity had
assets of $0.6 billion and operates 13 branches throughout the Pittsburgh
metropolitan area. Fidelity's assets and liabilities are included in our
financial statements at fair value, and income and expense are included
subsequent to the merger date.

Mr. Limbert commented, "2012 was a successful year in many ways. We are very
pleased with the completion of the acquisition of Fidelity. We are very
excited to work with the experienced Fidelity team in expanding our presence
in Pittsburgh and offering our expanded array of products to their customers.
Another major accomplishment this year was the continued improvement in credit
quality resulting in our ability to reduce the provision for credit losses in
each of the last five quarters. We were also able to grow loans outstanding
through our loan origination efforts which provided net loan growth in 2012 of
over 4.0%. Our accomplishments during 2012 have resulted in the significant
improvement in our operating results and growth in net income."

Financial Condition

Total assets at December 31, 2012 increased 9.8% or $542.7 million from the
prior year-end due to the acquisition of Fidelity and organic growth.
Portfolio loans increased $448.4 million or 13.8% with $313.4 million from the
acquisition and the remaining $135.0 million as WesBanco's originations
outpaced paydowns. Separate from the Fidelity acquisition, WesBanco grew
outstanding loans 4.2% from the previous year as a result of a 29.7% growth in
loan originations from the prior year. The organic loan growth and declines in
higher cost borrowings of $110.9 million over the last twelve months were
funded by organic deposit growth and the use of other liquid assets. Deposits
increased $550.4 million or 12.5% in 2012, with $455.0 million from the
acquisition and $95.4 million from organic growth. Goodwill and core deposit
intangibles created by the merger totaled approximately $43.5 million.

WesBanco has continued to maintain strong regulatory capital ratios even after
the completion of the Fidelity acquisition. At December 31, 2012, tier I
leverage was 8.67%, tier I risk-based capital was 12.82%, and total risk-based
capital was 14.07%, all of which were relatively unchanged from the prior year
end. Both consolidated and bank-level regulatory capital ratios are well
above the applicable "well-capitalized" standards promulgated by bank
regulators. Total tangible equity to tangible assets (non-GAAP measure) was
6.77% at December 31, 2012, a nine basis point increase from a year ago.
Strong earnings and improved capital have enabled WesBanco to increase its
dividend four times over the last two years totaling 29% to the current $0.18
per share, an approximate 3.2% dividend yield.

Credit Quality

WesBanco has continued to improve credit quality over the last two years.
Total non-performing loans were $63.7 million or 1.73% of total loans at
December 31, 2012, which represents a 26.7% decrease from $86.9 million or
2.68% at December 31 of the prior year. The 2012 ending balance includes
accruing and non-accrual troubled debt restructurings ("TDR's") totaling $9.4
million related to the implementation during the quarter of a regulatory
requirement for primarily mortgage, home equity and consumer loans discharged
in bankruptcy, which the borrower has continued to repay after the discharge.
Classified and criticized loans decreased $85.4 million or 33.1% from December
31, 2011. Sales of commercial loans during 2012 decreased non-performing
loans by $9.4 million and classified and criticized loans by $10.3 million
compared to December 31, 2011. Additionally, $11.3 million of non-performing
commercial loans acquired in the Fidelity acquisition, with afair value of
$6.9 million,were sold concurrent with the merger in the fourth quarter.

Net charge-offs for 2012 were $22.1 million, or 0.67% of average portfolio
loans, compared to $42.5 million or 1.30% for 2011. As a result of the
improvement in all measures of credit quality, the provision for credit losses
was $19.9 million for 2012 compared to $35.3 million for 2011. The allowance
for loan losses represented 1.43% of total portfolio loans at year end;
however, if the credit mark on the Fidelity loans were to be included, the
allowance would approximate 1.62% of loans. After an independent review of
the merger date loan portfolio, the gross loan mark of $12.6 million was
similar to the amount disclosed upon announcement of the merger.

Net Interest Income, Non-Interest Income and Non-Interest Expense

Net interest income decreased $1.0 million or 0.6% for 2012 compared to 2011
as a result of the low interest rate environment. While the average
outstanding loan balances increased during 2012, these increases were not
sufficient to offset the decline in average interest rates. Non-interest
income increased $4.9 million or 8.2% in 2012 compared to 2011. Trust fees
increased $0.9 million as assets under management continued to increase from
customer initiatives of trust and investment development activities that began
in the first half of 2012. Electronic banking fees increased 12.4% in 2012
due to increased transaction volumes. Net gains on sales of mortgage loans
increased $0.9 million due to increased volume and higher margins on sold
loans. The net loss on other real estate owned improved $1.0 million and net
security gains were $2.5 million in 2012. Service charges on deposits
decreased $1.5 million primarily from decreases in customer usage of overdraft
lines.

Non-interest expense increased 7.0% for the year compared to 2011 partially
due to restructuring and merger-related expenses of $3.9 million. Merger
expenses in 2012 related to the Fidelity merger were $3.2 million, while
restructuring costs associated with the closure of six branch offices were
$0.7 million. Total non-interest expense would have increased 4.2% for the
year without these charges. Salaries and wages increased $2.2 million in 2012
due to routine annual adjustments to compensation, increases in incentive
compensation expense, and an increase in full-time equivalent employees
("FTE") of 139 primarily due to the acquisition of Fidelity. Employee
benefits expense increased $4.1 million year-to-date primarily from increased
pension and employee health insurance costs. Partially offsetting these
increases were reduced marketing expense of $0.9 million and reduced FDIC
insurance of $0.9 million.

Fourth Quarter of 2012 compared to Fourth Quarter of 2011

For the fourth quarter of 2012, net income was $12.7 million compared to $10.6
million for the fourth quarter of 2011, representing an increase of 18.9%,
while diluted earnings per share were $0.46 as compared to $0.40 per share for
the fourth quarter of 2011. Net income for the fourth quarter of 2012,
excluding restructuring and merger-related expenses, was $14.2 million
compared to $10.6 million for 2011, representing an increase of 34.0%, while
diluted earnings per share excluding restructuring and merger-related expenses
were $0.52, compared to $0.40 per share for 2011.

Net income increased for the quarter primarily due to a $6.4 million decrease
in the provision for credit losses as a result of improved credit quality, and
a $1.3 million increase in net interest income from increased average assets
due to organic loan growth in 2012 and the acquisition of Fidelity.
Non-interest income increased $1.8 million due to a 10.9% increase in trust
fees from growth in assets under management, higher electronic banking fees,
increased gains on sale of mortgage loans, and near break-even charges on
disposition of other real estate owned in the 2012 quarter. Increases in
non-interest expense were due to the restructuring and merger-related
expenses, increased FTEs and normal increases at WesBanco for compensation
increases, while increased employee benefits were due to higher pension and
employee health insurance costs.

WesBanco is a multi-state bank holding company with total assets of
approximately $6.1 billion, operating through 118 branch locations and 107
ATMs in West Virginia, Ohio, and Pennsylvania. WesBanco's banking subsidiary
is WesBanco Bank, Inc., headquartered in Wheeling, West Virginia. WesBanco
also operates an insurance brokerage company, WesBanco Insurance Services,
Inc., and a full service broker/dealer, WesBanco Securities, Inc.

Forward-looking Statements:

Forward-looking statements in this report relating to WesBanco's plans,
strategies, objectives, expectations, intentions and adequacy of resources,
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The information contained in this report
should be read in conjunction with WesBanco's Form 10-K for the year ended
December 31, 2011 and documents subsequently filed by WesBanco with the
Securities and Exchange Commission ("SEC"), including WesBanco's Form 10-Q for
the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012
respectively, which are available at the SEC's website, www.sec.gov or at
WesBanco's website, www.wesbanco.com. Investors are cautioned that
forward-looking statements, which are not historical fact, involve risks and
uncertainties, including those detailed in WesBanco's most recent Annual
Report on Form 10-K filed with the SEC under "Risk Factors" in Part I, Item
1A. Such statements are subject to important factors that could cause actual
results to differ materially from those contemplated by such statements,
including, without limitation, that the businesses of WesBanco and Fidelity
may not be integrated successfully or such integration may take longer to
accomplish than expected; the expected cost savings and any revenue synergies
from the merger of WesBanco and Fidelity may not be fully realized within the
expected timeframes; disruption from the merger of WesBanco and Fidelity may
make it more difficult to maintain relationships with clients, associates, or
suppliers; the effects of changing regional and national economic conditions;
changes in interest rates, spreads on earning assets and interest-bearing
liabilities, and associated interest rate sensitivity; sources of liquidity
available to WesBanco and its related subsidiary operations; potential future
credit losses and the credit risk of commercial, real estate, and consumer
loan customers and their borrowing activities; actions of the Federal Reserve
Board, the Federal Deposit Insurance Corporation, the SEC, the Financial
Institution Regulatory Authority, the Municipal Securities Rulemaking Board,
the Securities Investors Protection Corporation, and other regulatory bodies;
potential legislative and federal and state regulatory actions and reform,
including, without limitation, the impact of the implementation of the
Dodd-Frank Act; adverse decisions of federal and state courts; fraud, scams
and schemes of third parties; internet hacking; competitive conditions in the
financial services industry; rapidly changing technology affecting financial
services; marketability of debt instruments and corresponding impact on fair
value adjustments; and/or other external developments materially impacting
WesBanco's operational and financial performance. WesBanco does not assume
any duty to update forward-looking statements.



WESBANCO, INC.
Consolidated
Selected                                                                  Page 4
Financial
Highlights
(unaudited,
dollars in
thousands,
except shares
and per share
amounts)
                For the Three Months Ended        For the Year Ended
STATEMENT OF    December 31,                      December 31,
INCOME
Interest and    2012        2011        % Change  2012        2011        % Change
dividend income
 Loans,         $       $       (1.07%)   $        $       (5.21%)
 including fees   42,311   42,767              166,656     175,818
 Interest and
 dividends on
 securities:
  Taxable      7,677       8,862       (13.37%)  32,461      36,034      (9.92%)
  Tax-exempt    3,129       3,059       2.29%     12,399      12,109      2.39%
   Total
   interest and 10,806      11,921      (9.35%)   44,860      48,143      (6.82%)
   dividends on
   securities
 Other interest 55          52          5.77%     170         206         (17.48%)
 income
 Total
interest and    53,172      54,740      (2.86%)   211,686     224,167     (5.57%)
dividend income
Interest
expense
 Interest
 bearing demand 395         487         (18.89%)  1,526       2,160       (29.35%)
 deposits
 Money market   397         1,108       (64.17%)  2,183       4,802       (54.54%)
 deposits
 Savings        168         337         (50.15%)  864         1,505       (42.59%)
 deposits
 Certificates   6,321       7,347       (13.96%)  26,371      31,054      (15.08%)
 of deposit
   Total
   interest     7,281       9,279       (21.53%)  30,944      39,521      (21.70%)
   expense on
   deposits
 Federal Home
 Loan Bank      789         1,456       (45.81%)  4,473       7,199       (37.87%)
 borrowings
 Other
 short-term     976         1,232       (20.78%)  4,480       4,823       (7.11%)
 borrowings
 Junior
 subordinated
 debt owed to   840         839         0.12%     3,438       3,259       5.49%
 unconsolidated
 subsidiary
 trusts
   Total
   interest     9,886       12,806      (22.80%)  43,335      54,802      (20.92%)
   expense
Net interest    43,286      41,934      3.22%     168,351     169,365     (0.60%)
income
 Provision for  3,272       9,631       (66.03%)  19,874      35,311      (43.72%)
 credit losses
Net interest
income after    40,014      32,303      23.87%    148,477     134,054     10.76%
provision for
credit losses
Non-interest
income
 Trust fees     4,655       4,198       10.89%    18,044      17,173      5.07%
 Service
 charges on     4,565       4,638       (1.57%)   17,138      18,629      (8.00%)
 deposits
 Electronic     2,807       2,603       7.84%     11,336      10,088      12.37%
 banking fees
 Net securities
 brokerage      1,284       1,048       22.52%    4,604       4,413       4.33%
 revenue
 Bank-owned     870         864         0.69%     3,516       3,566       (1.40%)
 life insurance
 Net gains on
 sales of       1,015       679         49.48%    2,876       1,977       45.47%
 mortgage loans
 Net securities 752         865         (13.06%)  2,463       963         155.76%
 gains
 Net loss on
 other real
 estate owned   (7)         (312)       97.76%    (305)       (1,290)     76.36%
 and other
 assets
 Other income   1,656       1,185       39.75%    5,103       4,369       16.80%
   Total
   non-interest 17,597      15,768      11.60%    64,775      59,888      8.16%
   income
Non-interest
expense
 Salaries and   15,885      14,633      8.56%     58,913      56,673      3.95%
 wages
 Employee       5,924       4,456       32.94%    21,462      17,321      23.91%
 benefits
 Net occupancy  2,771       2,805       (1.21%)   10,905      11,255      (3.11%)
 Equipment     2,604       2,193       18.74%    9,221       8,745       5.44%
 Marketing      953         1,281       (25.60%)  4,235       5,142       (17.64%)
 FDIC           937         1,008       (7.04%)   3,899       4,768       (18.23%)
 insurance
 Amortization
 of intangible  570         588         (3.06%)   2,150       2,410       (10.79%)
 assets
 Restructuring
 and            2,370       -           100.00%   3,888       -           100.00%
 merger-related
 expense
 Other
 operating      9,567       8,530       12.16%    35,447      33,981      4.31%
 expenses
   Total
   non-interest 41,581      35,494      17.15%    150,120     140,295     7.00%
   expense
Income before
provision for   16,030      12,577      27.45%    63,132      53,647      17.68%
income taxes
 Provision for  3,380       1,940       74.23%    13,588      9,838       38.12%
 income taxes
Net Income      $       $       18.92%    $       $       13.09%
                  12,650   10,637              49,544       43,809
Taxable         $       $                 $        $   
equivalent net   44,971   43,581     3.19%     175,027     175,885    (0.49%)
interest income
Per common
share data
Net income per  $       $                 $       $    
common share -             0.40  15.00%      1.84      1.65  11.52%
basic           0.46
Net income per  $       $                 $       $    
common share -             0.40  15.00%      1.84      1.65  11.52%
diluted         0.46
Dividends       $       $                 $       $    
declared                   0.16  12.50%      0.70      0.62  12.90%
                0.18
Book value                                        $       $       2.73%
(period end)                                       24.45      23.80
Tangible book                                     $       $    
value (period                                      13.34      13.17   1.29%
end) (1)
Average common
shares          27,523,958  26,629,360  3.36%     26,867,227  26,614,697  0.95%
outstanding -
basic
Average common
shares          27,549,655  26,629,688  3.45%     26,888,847  26,615,281  1.03%
outstanding -
diluted
Period end
common shares   29,214,660  26,629,360  9.71%     29,214,660  26,629,360  9.71%
outstanding
(1) See non-GAAP financial measures
for additional information relating to
the calculation of this item.





WESBANCO, INC.
Consolidated                                                                            Page
Selected Financial                                                                      5
Highlights
(unaudited, dollars
in thousands)
Selected
ratios
                       For the Year Ended
                       December 31,
                       2012        2011         % Change
Return on average      0.88      % 0.81       % 8.64       %
assets
Return on average      7.54        7.01         7.56
equity
Return on average      13.68       13.32        2.70
tangible equity (1)
Yield on earning       4.40        4.80         (8.33)
assets (2)
Cost of interest       1.04        1.32         (21.21)
bearing liabilities
Net interest           3.36        3.48         (3.45)
spread (2)
Net interest           3.53        3.66         (3.55)
margin (2)
Efficiency (1)         60.98       59.50        2.49
(2)
Average loans to       74.15       76.32        (2.84)
average deposits
Annualized net loan
charge-offs/average    0.66        1.30         (49.23)
loans
Effective income       21.52       18.34        17.34
tax rate
                       For the Quarter Ended
                       Dec. 31,    Sept. 30,    June 30,     Mar. 31,     Dec. 31,
                       2012        2012         2012         2012         2011
Return on average      0.87      % 0.92       % 0.87       % 0.87       % 0.77       %
assets
Return on average      7.36        7.83         7.45         7.54         6.61
equity
Return on average      13.16       14.09        13.57        13.93        12.31
tangible equity (1)
Yield on earning       4.27        4.37         4.43         4.54         4.61
assets (2)
Cost of interest       0.93        1.03         1.07         1.14         1.22
bearing liabilities
Net interest           3.34        3.34         3.36         3.40         3.39
spread (2)
Net interest           3.50        3.51         3.53         3.57         3.56
margin (2)
Efficiency (1)         62.67       59.45        61.06        60.64        59.81
(2)
Average loans to       74.40       74.95        73.35        73.88        74.31
average deposits
Annualized net loan
charge-offs/average    0.47        0.54         0.84         0.82         1.22
loans
Effective income       21.09       21.16        22.33        21.56        15.42
tax rate
Trust assets,          $         $         $         $         $   
market value at        3,238,556   3,236,618   3,133,741   3,164,235   2,973,352
period end
(1) See non-GAAP financial measures for
additional information relating to the
calculation of this item.
(2) The yield on earning assets, net interest margin, net
interest spread and efficiency ratios are presented on a
fully
 taxable-equivalent (FTE) and annualized basis. The FTE
basis adjusts for the tax benefit of income on certain
tax-exempt
 loans and investments. WesBanco believes this measure
to be the preferred industry measurement of net interest
income and
 provides a relevant
comparison between taxable and
non-taxable amounts.





WESBANCO, INC.
Consolidated Selected                                                 Page 6
Financial Highlights
(unaudited, dollars in
thousands, except                                                     % Change
shares)
Balance sheets            December 31,                      September September
                                                            30,       30, 2012
                                                                      to
Assets                    2012        2011       % Change   2012      December
                                                                      31, 2012
                          $       $                  $    
Cash and due from banks   91,716     129,396   (29.12)  %        (6.16)    %
                                                            97,736
Due from banks -          33,889      10,929     210.08     18,675    81.47
interest bearing
Securities:
     Available-for-sale,  1,021,244   1,016,340  0.48       993,754   2.77
     at fair value
     Held-to-maturity
     (fair values of
     $639,273; $621,472   602,509     592,925    1.62       559,156   7.75
     and $598,854,
     respectively)
      Total           1,623,753   1,609,265  0.90       1,552,910 4.56
     securities
Loans held for sale       21,903      6,084      260.01     14,225    53.98
Portfolio loans:
     Commercial real      1,858,345   1,685,565  10.25      1,717,241 8.22
     estate
     Commercial and       478,025     426,315    12.13      447,767   6.76
     industrial
     Residential real     793,702     621,383    27.73      684,016   16.04
     estate
     Home equity          277,226     251,785    10.10      255,787   8.38
     Consumer            280,464     254,320    10.28      248,155   13.02
Total portfolio loans,    3,687,762   3,239,368  13.84      3,352,966 9.99
net of unearned income
Allowance for loan        (52,699)    (54,810)   3.85       (53,476)  1.45
losses
      Net portfolio   3,635,063   3,184,558  14.15      3,299,490 10.17
     loans
Premises and equipment,   88,866      82,204     8.10       80,176    10.84
net
Accrued interest          19,354      19,268     0.45       19,171    0.95
receivable
Goodwill and other        324,465     283,150    14.59      281,570   15.23
intangible assets, net
Bank-owned life           119,671     110,074    8.72       112,720   6.17
insurance
Other assets              120,037     101,102    18.73      100,286   19.69
                          $         $                   $    
Total Assets              6,078,717  5,536,030  9.80     %          9.00      %
                                                            5,576,959
Liabilities
Deposits:
     Non-interest         $       $                  $    
     bearing demand       874,923     705,415   24.03    %         15.07     %
                                                            760,308
     Interest bearing     831,368     698,113    19.09      784,748   5.94
     demand
     Money market         847,805     789,037    7.45       778,121   8.96
     Savings deposits     740,568     596,549    24.14      649,959   13.94
     Certificates of      1,649,620   1,604,752  2.80       1,515,076 8.88
     deposit
      Total deposits  4,944,284   4,393,866  12.53      4,488,212 10.16
Federal Home Loan Bank    111,187     168,186    (33.89)    91,617    21.36
borrowings
Other short-term          142,971     196,887    (27.38)    186,886   (23.50)
borrowings
Junior subordinated debt
owed to unconsolidated    113,832     106,066    7.32       106,091   7.30
subsidiary trusts
      Total           367,990     471,139    (21.89)    384,594   (4.32)
     borrowings
Accrued interest payable  3,856       4,975      (22.49)    4,628     (16.68)
Other liabilities         48,403      32,260     50.04      40,203    20.40
Total Liabilities         5,364,533   4,902,240  9.43       4,917,637 9.09
Shareholders' Equity
Preferred stock, no par
value; 1,000,000 shares
authorized;
     none outstanding     -           -          -          -         -
Common stock, $2.0833
par value; 50,000,000
shares authorized;
     29,214,660 shares;
     26,633,848 shares
     and 26,667,739
     shares issued,
     respectively;
     29,214,660 shares;
     26,629,360 shares
     and 26,665,519       60,863      55,487     9.69       55,558    9.55
     shares outstanding,
     respectively
Capital surplus           241,672     191,679    26.08      192,159   25.77
Retained earnings         419,246     388,818    7.83       411,853   1.80
Treasury stock ( 0;
4,488 and 2,220 shares -  -           (96)       (100.00)   (44)      (100.00)
at cost, respectively)
Accumulated other
comprehensive income      (6,365)     (902)      (605.65)   1,019     (724.63)
(loss)
Deferred benefits for     (1,232)     (1,196)    (3.01)     (1,223)   (0.74)
directors
Total Shareholders'       714,184     633,790    12.68      659,322   8.32
Equity
Total Liabilities and     $          $         9.80     % $     9.00      %
Shareholders' Equity      6,078,717  5,536,030             5,576,959





WESBANCO, INC.
Consolidated
Selected                                                                             Page 7
Financial
Highlights
(unaudited,
dollars in
thousands)
Average
balance sheet
and
net interest
margin            Three Months Ended December 31,       For the Year Ended December 31,
analysis
                  2012               2011               2012               2011
                  Average  Average  Average  Average  Average  Average  Average  Average
Assets            Balance   Rate     Balance   Rate     Balance   Rate     Balance   Rate
Due from banks    $              $              $              $    
- interest         22,277 0.36%     53,005 0.25%     26,865 0.25%     48,723 0.21%
bearing
Loans, net of
unearned income   3,463,911 4.86%    3,237,808 5.24%    3,323,078 5.02%    3,256,887 5.40%
(1)
Securities:
(2)
 Taxable       1,275,530 2.41%    1,246,971 2.84%    1,270,446 2.56%    1,179,458 3.06%

Tax-exempt        340,788   5.65%    305,129   6.17%    323,885   5.89%    299,357   6.22%
(3)
 Total     1,616,318 3.09%    1,552,100 3.50%    1,594,331 3.23%    1,478,815 3.70%
securities
Other earning     17,158    0.82%    22,899    0.33%    19,621    0.52%    25,030    0.42%
assets
 Total
earning assets    5,119,664 4.27%    4,865,812 4.61%    4,963,895 4.40%    4,809,455 4.80%
(3)
Other assets      641,331            647,999            642,491            630,788
Total Assets      $               $               $               $   
                  5,760,995          5,513,811          5,606,386          5,440,243
Liabilities and
Shareholders'
Equity
Interest          $              $              $              $    
bearing demand    814,894  0.19%    577,644  0.33%    755,908  0.20%    628,037  0.34%
deposits
Money market      800,059   0.20%    900,494   0.49%    781,400   0.28%    792,565   0.61%
accounts
Savings           679,646   0.10%    588,799   0.23%    645,310   0.13%    570,093   0.26%
deposits
Certificates      1,558,594 1.61%    1,609,711 1.81%    1,547,379 1.70%    1,636,753 1.90%
of deposit
 Total
interest          3,853,193 0.75%    3,676,648 1.00%    3,729,997 0.83%    3,627,448 1.09%
bearing
deposits
Federal Home
Loan Bank         92,264    3.40%    172,609   3.35%    130,048   3.44%    210,506   3.42%
borrowings
Other             178,809   2.17%    204,311   2.39%    191,534   2.34%    194,768   2.48%
borrowings
Junior
subordinated      108,673   3.08%    106,062   3.14%    106,727   3.22%    106,050   3.07%
debt
 Total
interest          4,232,939 0.93%    4,159,630 1.22%    4,158,306 1.04%    4,138,772 1.32%
bearing
liabilities
Non-interest
bearing demand    802,385            680,637            751,345            639,837
deposits
Other             41,977             34,888             40,051             36,573
liabilities
Shareholders'     683,694            638,656            656,684            625,061
equity
Total
Liabilities and   $                $               $               $   
Shareholders'     5,760,995          5,513,811          5,606,386          5,440,243
Equity
Taxable
equivalent net              3.34%              3.39%              3.36%              3.48%
interest spread
Taxable
equivalent net              3.50%              3.56%              3.53%              3.66%
interest
margin
(1) Gross of allowance for loan losses and net of
unearned income. Includes non-accrual and loans held
for sale.
 Loan fees included in interest income on loans are $1.0 million and
$0.9 million for the three months ended December 31, 2012 and 2011,
 and $4.0 million and $4.3 million for the
year ended December 31, 2012 and 2011,
respectively.
(2) Average yields on available-for sale
securities are calculated based on amortized
cost.
(3) Taxable equivalent basis is calculated on
tax-exempt securities using a rate of 35% for each
period presented.





WESBANCO, INC.
Consolidated
Selected Financial                                                  Page 8
Highlights
(unaudited, dollars
in thousands,
except shares and
per share amounts)
                    Quarter Ended
Statement of Income Dec. 31,    Sept. 30,   June 30,    Mar. 31,   Dec. 31,
Interest income     2012        2012        2012        2012        2011
 Loans,         $       $       $       $       $    
including fees      42,311                                  
                                41,423     40,957     41,964     42,767
 Interest and
dividends on
securities:
 Taxable  7,677       7,722       8,471       8,590       8,862
           3,129       3,113       3,079       3,079       3,059
Tax-exempt

Total interest and  10,806      10,835      11,550      11,669      11,921
dividends on
securities
Other interest      55          30          38          47          52
income
Total
interest and        53,172      52,288      52,545      53,680      54,740
dividend income
Interest expense
 Interest
bearing demand      395         397         393         405         487
deposits
 Money market   397         487         493         742         1,108
deposits
 Savings        168         202         200         295         337
deposits
 Certificates   6,321       6,450       6,621       6,979       7,347
of deposit

Total interest      7,281       7,536       7,707       8,421       9,279
expense on deposits
 Federal Home
Loan Bank           789         1,020       1,288       1,377       1,456
borrowings
 Other
short-term          976         1,169       1,156       1,178       1,232
borrowings
 Junior
subordinated debt
owed to             840         869         854         874         839
unconsolidated
subsidiary trusts
 
Total interest      9,886       10,594      11,005      11,850      12,806
expense
Net interest        43,286      41,694      41,540      41,830      41,934
income
 Provision for  3,272       4,497       5,903       6,202       9,631
credit losses
Net interest income
after provision for 40,014      37,197      35,637      35,628      32,303
credit losses
Non-interest income
 Trust fees     4,655       4,379       4,258       4,753       4,198
 Service        4,565       4,362       4,218       3,993       4,638
charges on deposits
 Electronic     2,807       2,846       2,920       2,763       2,603
banking fees
 Net securities 1,284       1,131       1,114       1,075       1,048
brokerage revenue
 Bank-owned     870         891         874         880         864
life insurance
 Net gains on
sales of mortgage   1,015       993         599         268         679
loans
 Net securities 752         316         1,294       100         865
gains
 Net loss on
other real estate   (7)         (48)        (282)       32          (312)
owned and other
assets
 Other income   1,656       1,092       899         1,458       1,185
 Total 17,597      15,962      15,894      15,322      15,768
non-interest income
Non-interest
expense
 Salaries and   15,885      14,758      13,955      14,315      14,633
wages
 Employee       5,924       5,000       4,920       5,618       4,456
benefits
 Net occupancy  2,771       2,654       2,703       2,776       2,805
 Equipment     2,604       2,300       2,144       2,174       2,193
 Marketing      953         795         1,716       771         1,281
 FDIC           937         951         965         1,045       1,008
insurance
 Amortization
of intangible       570         519         524         537         588
assets
 Restructuring
and merger-related  2,370       1,518       -           -           -
expense
 Other
operating           9,567       8,295       9,157       8,429       8,530
expenses
Total
non-interest        41,581      36,790      36,084      35,665      35,494
expense
Income before
provision for       16,030      16,369      15,447      15,285      12,577
income taxes
 Provision for  3,380       3,463       3,449       3,295       1,940
income taxes
                    $       $       $       $       $    
Net Income                                              
                     12,650   12,906     11,998     11,990     10,637
Taxable equivalent  $       $       $       $       $    
net interest income                   43,197             43,581
                     44,971    43,370                  43,488
Per common share
data
Net income per      $       $       $       $       $    
common share -                                      
basic                        0.48       0.45       0.45       0.40
                    0.46
Net income per      $       $       $       $       $    
common share -                                      
diluted                      0.48       0.45       0.45       0.40
                    0.46
                    $       $       $       $       $    
Dividends declared                                  
                             0.18       0.17       0.17       0.16
                    0.18
Book value (period  $       $       $       $       $    
end)                                                  
                      24.45  24.73      24.34      24.11      23.80
Tangible book value $       $       $       $       $    
(period end) (1)                                      
                      13.34  14.17      13.76      13.50      13.17
Average common
shares outstanding  27,523,958  26,664,882  26,647,050  26,628,025  26,629,360
- basic
Average common
shares outstanding  27,549,655  26,672,849  26,650,325  26,631,187  26,629,688
- diluted
Period end common   29,214,660  26,665,519  26,664,644  26,627,689  26,629,360
shares outstanding
Full time
equivalent          1,507       1,366       1,404       1,371       1,368
employees
(1) See non-GAAP financial measures for
additional information relating to the
calculation of this item.





WESBANCO, INC.
Consolidated Selected                                                Page
Financial Highlights                                                 9
(unaudited, dollars in
thousands)
                          Quarter Ended
                          Dec. 31,   Sept.      June 30,   Mar.      Dec.
                                     30,                   31,       31,
Asset quality data        2012       2012       2012       2012      2011
Non-performing assets:
   Troubled debt          $       $       $       $      $   
   restructurings -        24,281    24,858    28,165            
   accruing                                                27,900    29,411
   Non-accrual loans:
       Troubled debt      15,001     9,449      11,159     16,935    17,287
       restructurings
       Other non-accrual  24,371     24,841     28,793     36,139    40,205
       loans
        Total          39,372     34,290     39,952     53,074    57,492
       non-accrual loans
        Total
       non-performing     63,653     59,148     68,117     80,974    86,903
       loans
   Other real estate and  5,988      3,951      3,918      3,178     3,029
   repossessed assets
       Total              $       $       $       $      $   
       non-performing      69,641    63,099    72,035            
       assets                                              84,152    89,932
Past due loans (1):
   Loans past due 30-89   $       $       $       $      $   
   days                    20,843    17,332    15,117            
                                                           15,034    19,888
   Loans past due 90      5,294      3,560      3,639      3,146     5,135
   days or more
       Total past due     $       $       $       $      $   
       loans               26,137    20,892    18,756            
                                                           18,180    25,023
Criticized and
classified loans (2):
   Criticized loans       $       $       $       $      $   
                           86,777   102,792    122,854    129,312   141,195
   Classified loans       85,960     94,613     100,436    107,757   116,973
       Total criticized   $       $       $       $      $   
       and classified     172,737    197,405    223,290    237,069   258,168
       loans
Loans past due 30-89 days 0.57     % 0.52     % 0.46     % 0.47    % 0.61    %
/ total portfolio loans
Loans past due 90 days or
more / total portfolio    0.14       0.11       0.11       0.10      0.16
loans
Non-performing loans /    1.73       1.76       2.08       2.51      2.68
total portfolio loans
Non-performing
assets/total portfolio
loans, other
   real estate and        1.89       1.88       2.20       2.61      2.77
   repossessed assets
Criticized and classified
loans / total portfolio   4.68       5.89       6.82       7.35      7.97
loans
Allowance for loan
losses
Allowance for loan        $       $       $       $      $   
losses                     52,699    53,476    53,610            
                                                           54,395    54,810
Provision for credit      3,272      4,497      5,903      6,202     9,631
losses
Net loan and deposit
account overdraft         4,124      4,566      6,805      6,617     9,921
charge-offs
Annualized net loan
charge-offs /average      0.47     % 0.54     % 0.84     % 0.82    % 1.22    %
loans
Allowance for loan
losses/total portfolio    1.43     % 1.59     % 1.64     % 1.69    % 1.69    %
loans
Allowance for loan
losses/non-performing     0.83     x 0.90     x 0.79     x 0.67    x 0.63    x
loans
Allowance for loan
losses/non-performing
loans and
   loans past due        0.59     x 0.67     x 0.62     x 0.55    x 0.49    x
                          Quarter Ended
                          Dec. 31,   Sept.      June 30,   Mar.      Dec.
                                     30,                   31,       31,
                          2012       2012       2012       2012      2011
Capital ratios
Tier I leverage capital   8.67     % 9.11     % 8.94     % 8.81    % 8.71    %
Tier I risk-based         12.82      13.20      13.11      12.89     12.68
capital
Total risk-based capital  14.07      14.45      14.36      14.14     13.93
Average shareholders'     11.87      11.80      11.66      11.52     11.58
equity to average assets
Tangible equity to        6.77       7.13       7.00       6.76      6.68
tangible assets (3)
(1) Excludes
non-performing loans.
(2) Criticized and classified loans may include loans
that are also reported as non-performing or past due.
(3) See non-GAAP financial measures for additional
information relating to the calculation of this ratio.





NON-GAAP
FINANCIAL                                                         Page 10
MEASURES
The following non-GAAP financial measures used by WesBanco provide information useful to
investors in understanding WesBanco's operating performance and trends, and facilitate
comparisons with the performance of WesBanco's peers. The following tables summarize the non-GAAP
financial measures derived from amounts reported in WesBanco's financial statements.
                  Three Months Ended                                          Year to Date
                  Dec. 31,    Sept. 30,   June 30,    Mar. 31,    Dec. 31,   Dec. 31,
(unaudited,
dollars in        2012        2012        2012        2012        2011        2012      2011
thousands)
Return on average
tangible equity:
   Net income     $        $        $        $        $        $      $   
   (annualized)   50,325     51,345      48,255      48,223      42,201      49,544    43,809
   Plus:
   amortization
   of intangibles 1,473       1,342       1,370       1,405       1,516       1,398     1,566
   (annualized)
   (1)
   Net income
   before
   amortization   51,798      52,687      49,625      49,628      43,717      50,942    45,375
   of intangibles
   (annualized)
   Average total
   shareholders'  683,694     655,666     648,014     639,180     638,656     656,684   625,061
   equity
   Less: average
   goodwill and   (290,054)   (281,820)   (282,339)   (282,849)   (283,406)   (284,270) (284,304)
   other
   intangibles
   Average
   tangible       393,640     373,846     365,676     356,331     355,250     372,414   340,757
   equity
Return on
average tangible  13.16%      14.09%      13.57%      13.93%      12.31%      13.68%    13.32%
equity
                  Period End
                  Dec. 31,    Sept. 30,   June 30,    Mar. 31,    Dec. 31,
                  2012        2012        2012        2012        2011
Tangible book
value:
   Total          $         $         $         $         $  
   shareholders'  714,184    659,322     649,112     642,001     633,790
   equity
   Less:
   goodwill and
   other          (324,465)   (281,570)   (282,088)   (282,612)   (283,150)
   intangible
   assets
   Tangible       389,719     377,752     367,024     359,389     350,640
   equity
   Common shares  29,214,660  26,665,519  26,664,644  26,627,689  26,629,360
   outstanding
Tangible book     $       $       $       $       $    
value             13.34      14.17       13.76       13.50       13.17
Tangible equity
to tangible
assets:
   Total          $         $         $         $         $  
   shareholders'  714,184    659,322     649,112     642,001     633,790
   equity
   Less:
   goodwill and
   other          (324,465)   (281,570)   (282,088)   (282,612)   (283,150)
   intangible
   assets
   Tangible       389,719     377,752     367,024     359,389     350,640
   equity
   Total          6,078,717   5,576,959   5,525,405   5,600,643   5,536,030
   assets
   Less:
   goodwill and
   other          (324,465)   (281,570)   (282,088)   (282,612)   (283,150)
   intangible
   assets
   Tangible       5,754,252   5,295,389   5,243,317   5,318,031   5,252,880
   assets
Tangible equity
to tangible       6.77%       7.13%       7.00%       6.76%       6.68%
assets
Efficiency
ratio:
Efficiency ratio is calculated by dividing non-interest expense less restructuring and merger
related expenses by the sum of net interest income on a fully taxable equivalent basis plus
non-interest income.
Diluted earnings per share excluding
restructuring and merger-related
expense:
Calculated by subtracting tax effected restructuring and
merger-related expense from net income and dividing by diluted
average shares outstanding.
(1) Tax effected
at 35%.

SOURCE WesBanco, Inc.

Website: http://www.wesbanco.com
Contact: Paul M. Limbert, President and Chief Executive Officer, or Robert H.
Young, Executive Vice President and Chief Financial Officer, +1-304-234-9000