WesBanco reports Q1 adjusted EPS 66c, consensus 57c

Net interest margin of 3.35% increased 32 basis points sequentially, as PFC benefited the margin by approximately 25 basis points through interest mark accretion and securities restructuring. “Our first quarter results demonstrate continued solid operational performance, as we again delivered strong organic loan and deposit growth while driving positive operating leverage. We also continued to strengthen our balance sheet and net interest margin by funding loan growth with deposits and reducing higher-cost borrowings,” said Jeff Jackson, President and Chief Executive Officer, WesBanco (WSBC). “This quarter also marked a significant milestone for WesBanco as we successfully completed our acquisition of Premier Financial Corp., a merger that expands and strengthens our market position and accelerates our long-term growth strategy. We are pleased to welcome Premier’s talented team, loyal customers and strong community partners to WesBanco. As we move forward together, our teams are focused on executing a seamless integration and delivering on the full potential of the combined organization for all our stakeholders.”