Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 26, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | WESBANCO, INC. | |
Entity Central Index Key | 0000203596 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding | 59,155,772 | |
Entity Shell Company | false | |
Entity File Number | 001-39442 | |
Entity Incorporation, State or Country Code | WV | |
Entity Tax Identification Number | 55-0571723 | |
Entity Address, Address Line One | 1 Bank Plaza | |
Entity Address, City or Town | Wheeling | |
Entity Address, State or Province | WV | |
Entity Address, Postal Zip Code | 26003 | |
City Area Code | 304 | |
Local Phone Number | 234-9000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Stock | ||
Document Information [Line Items] | ||
Trading Symbol | WSBC | |
Title of 12(b) Security | Common Stock $2.0833 Par Value | |
Security Exchange Name | NASDAQ | |
Depositary Shares | ||
Document Information [Line Items] | ||
Trading Symbol | WSBCP | |
Title of 12(b) Security | Depositary Shares (each representing 1/40th interest in a share of 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A) | |
Security Exchange Name | NASDAQ |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks, including interest bearing amounts of $166,215 and $1,094,312, respectively | $ 378,556 | $ 1,251,358 |
Securities: | ||
Equity securities, at fair value | 11,964 | 13,466 |
Available-for-sale debt securities, at fair value | 2,645,748 | 3,013,462 |
Held-to-maturity debt securities (fair values of $1,065,833 and $1,028,452 respectively) | 1,262,467 | 1,004,823 |
Allowance for credit losses, held-to-maturity debt securities | (225) | (268) |
Net held-to-maturity debt securities | 1,262,242 | 1,004,555 |
Total securities | 3,919,954 | 4,031,483 |
Loans held for sale | 12,887 | 25,277 |
Portfolio loans, net of unearned income | 10,277,662 | 9,733,478 |
Allowance for credit losses - loans | (114,584) | (121,622) |
Net portfolio loans | 10,163,078 | 9,611,856 |
Premises and equipment, net | 221,355 | 229,016 |
Accrued interest receivable | 63,375 | 60,844 |
Goodwill and other intangible assets, net | 1,143,896 | 1,151,634 |
Bank-owned life insurance | 350,806 | 350,359 |
Other assets | 350,840 | 215,298 |
Total Assets | 16,604,747 | 16,927,125 |
Deposits: | ||
Non-interest bearing demand | 4,736,722 | 4,590,895 |
Interest bearing demand | 3,201,714 | 3,380,056 |
Money market | 1,772,481 | 1,739,750 |
Savings deposits | 2,741,937 | 2,562,510 |
Certificates of deposit | 991,512 | 1,292,652 |
Total deposits | 13,444,366 | 13,565,863 |
Federal Home Loan Bank borrowings | 56,998 | 183,920 |
Other short-term borrowings | 127,983 | 141,893 |
Subordinated debt and junior subordinated debt | 281,179 | 132,860 |
Total borrowings | 466,160 | 458,673 |
Accrued interest payable | 4,358 | 1,901 |
Other liabilities | 294,211 | 207,522 |
Total Liabilities | 14,209,095 | 14,233,959 |
SHAREHOLDERS' EQUITY | ||
Preferred stock, no par value, 1,000,000 shares authorized; 150,000 shares 6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference $150,000,000, issued and outstanding at September 30, 2022 and December 31, 2021, respectively | 144,484 | 144,484 |
Common stock, $2.0833 par value; 100,000,000 shares authorized; 68,081,306 shares issued; 59,304,505 and 62,307,245 shares outstanding at September 30, 2022 and December 31, 2021, respectively | 141,834 | 141,834 |
Capital surplus | 1,634,280 | 1,635,642 |
Retained earnings | 1,048,532 | 977,765 |
Treasury stock (8,776,801 and 5,774,061 shares - at cost, respectively) | (305,033) | (199,759) |
Accumulated other comprehensive loss | (266,640) | (5,120) |
Deferred benefits for directors | (1,805) | (1,680) |
Total Shareholders' Equity | 2,395,652 | 2,693,166 |
Total Liabilities and Shareholders' Equity | $ 16,604,747 | $ 16,927,125 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Interest bearing deposits, banks | $ 166,215,000 | $ 1,094,312,000 |
Held-to-maturity securities, fair values | $ 1,065,833,000 | $ 1,028,452,000 |
Preferred stock, no par value | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 150,000 | 150,000 |
Preferred stock, shares outstanding | 150,000 | 150,000 |
6.75% non-cumulative perpetual preferred stock, Series A, liquidation preference | $ 150,000,000 | $ 150,000,000 |
Common stock, par value | $ 2.0833 | $ 2.0833 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 68,081,306 | 68,081,306 |
Common stock, shares outstanding | 59,304,505 | 62,307,245 |
Treasury stock, shares | 8,776,801 | 5,774,061 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 109,562 | $ 103,206 | $ 299,094 | $ 318,532 |
Interest and dividends on securities: | ||||
Taxable | 17,531 | 13,481 | 47,468 | 37,467 |
Tax-exempt | 4,916 | 4,063 | 13,965 | 11,925 |
Total interest and dividends on securities | 22,447 | 17,544 | 61,433 | 49,392 |
Other interest income | 2,108 | 628 | 4,211 | 1,836 |
Total interest and dividend income | 134,117 | 121,378 | 364,738 | 369,760 |
INTEREST EXPENSE | ||||
Interest bearing demand deposits | 2,953 | 815 | 4,917 | 2,859 |
Money market deposits | 968 | 350 | 1,672 | 1,488 |
Savings deposits | 1,067 | 244 | 1,662 | 769 |
Certificates of deposit | 958 | 1,726 | 3,347 | 6,122 |
Total interest expense on deposits | 5,946 | 3,135 | 11,598 | 11,238 |
Federal Home Loan Bank borrowings | 348 | 1,192 | 1,334 | 5,387 |
Other short-term borrowings | 147 | 33 | 244 | 192 |
Subordinated debt and junior subordinated debt | 3,175 | 1,743 | 7,123 | 5,336 |
Total interest expense | 9,616 | 6,103 | 20,299 | 22,153 |
NET INTEREST INCOME | 124,501 | 115,275 | 344,439 | 347,607 |
Provision for credit losses | (535) | (1,730) | (4,785) | (50,714) |
Net interest income after provision for credit losses | 125,036 | 117,005 | 349,224 | 398,321 |
NON-INTEREST INCOME | ||||
Trust fees | 6,517 | 7,289 | 20,879 | 22,069 |
Service charges on deposits | 6,942 | 6,050 | 19,520 | 15,820 |
Electronic banking fees | 4,808 | 5,427 | 15,307 | 14,853 |
Net securities brokerage revenue | 2,491 | 1,965 | 6,969 | 5,318 |
Bank-owned life insurance | 1,999 | 2,656 | 8,263 | 6,072 |
Mortgage banking income | 1,257 | 4,563 | 4,508 | 16,656 |
Net securities gains (losses) | 656 | (15) | (1,176) | 740 |
Net gain (loss) on other real estate owned and other assets | 2,040 | 785 | (68) | 4,974 |
Other income | 5,546 | 4,035 | 15,420 | 15,574 |
Total non-interest income | 32,256 | 32,755 | 89,622 | 102,076 |
NON-INTEREST EXPENSE | ||||
Salaries and wages | 44,271 | 39,497 | 124,421 | 113,822 |
Employee benefits | 10,693 | 10,658 | 28,574 | 30,191 |
Net occupancy | 6,489 | 6,825 | 19,843 | 20,430 |
Equipment and software | 8,083 | 7,609 | 23,795 | 21,654 |
Marketing | 2,377 | 1,848 | 7,546 | 6,033 |
FDIC insurance | 2,391 | 1,227 | 5,850 | 2,690 |
Amortization of intangible assets | 2,560 | 2,854 | 7,738 | 8,622 |
Restructuring and merger-related expense | 66 | 4,467 | 1,712 | 6,540 |
Other operating expenses | 15,011 | 19,716 | 47,032 | 54,858 |
Total non-interest expense | 91,941 | 94,701 | 266,511 | 264,840 |
Income before provision for income taxes | 65,351 | 55,059 | 172,335 | 235,557 |
Provision for income taxes | 12,318 | 10,651 | 32,432 | 47,445 |
Net income | 53,033 | 44,408 | 139,903 | 188,112 |
Preferred stock dividends | 2,531 | 2,531 | 7,594 | 7,594 |
Net income available to common shareholders | $ 50,502 | $ 41,877 | $ 132,309 | $ 180,518 |
EARNINGS PER COMMON SHARE | ||||
Basic | $ 0.85 | $ 0.64 | $ 2.19 | $ 2.72 |
Diluted | $ 0.85 | $ 0.64 | $ 2.19 | $ 2.71 |
AVERAGE COMMON SHARES OUTSTANDING | ||||
Basic | 59,549,244 | 64,931,764 | 60,336,637 | 66,354,750 |
Diluted | 59,697,676 | 65,065,848 | 60,489,248 | 66,510,357 |
DIVIDENDS DECLARED PER COMMON SHARE | $ 0.34 | $ 0.33 | $ 1.02 | $ 0.99 |
COMPREHENSIVE (LOSS) INCOME | $ (37,546) | $ 36,285 | $ (121,617) | $ 161,216 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock | Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Deferred Benefits for Directors [Member] |
Beginning Balance at Dec. 31, 2020 | $ 2,756,737 | $ 144,484 | $ 141,834 | $ 1,634,815 | $ 831,688 | $ (25,949) | $ 31,359 | $ (1,494) |
Beginning Balance, shares at Dec. 31, 2020 | 67,254,706 | |||||||
Net income | 188,112 | 188,112 | ||||||
Other comprehensive income (loss) | (26,896) | (26,896) | ||||||
Comprehensive income (loss) | 161,216 | |||||||
Common dividends declared | (65,069) | (65,069) | ||||||
Preferred dividends declared | (7,594) | |||||||
Stock issued for dividend reinvestment | (391) | 391 | ||||||
Stock issued for dividend reinvestment, shares | 11,720 | |||||||
Treasury shares acquired | (128,006) | 191 | (128,197) | |||||
Treasury shares acquired, shares | (3,649,091) | |||||||
Stock options exercised | 2,300 | (867) | 3,167 | |||||
Stock options exercised, shares | 92,393 | |||||||
Restricted stock granted | (4,486) | 4,486 | ||||||
Restricted stock granted, shares | 128,821 | |||||||
Stock compensation expense | 4,415 | 4,415 | ||||||
Deferred benefits for directors- net | (16) | 18 | (34) | |||||
Ending Balance at Sep. 30, 2021 | 2,723,983 | 144,484 | $ 141,834 | 1,634,086 | 946,746 | (146,102) | 4,463 | (1,528) |
Ending Balance, shares at Sep. 30, 2021 | 63,838,549 | |||||||
Beginning Balance at Jun. 30, 2021 | 2,780,836 | 144,484 | $ 141,834 | 1,632,460 | 925,977 | (74,996) | 12,586 | (1,509) |
Beginning Balance, shares at Jun. 30, 2021 | 65,970,149 | |||||||
Net income | 44,408 | 44,408 | ||||||
Other comprehensive income (loss) | (8,123) | (8,123) | ||||||
Comprehensive income (loss) | 36,285 | |||||||
Common dividends declared | (21,108) | (21,108) | ||||||
Preferred dividends declared | (2,531) | (2,531) | ||||||
Treasury shares acquired | (71,346) | (71,346) | ||||||
Treasury shares acquired, shares | (2,138,515) | |||||||
Stock options exercised | 16 | (10) | 26 | |||||
Stock options exercised, shares | 750 | |||||||
Restricted stock granted | (214) | 214 | ||||||
Restricted stock granted, shares | 6,165 | |||||||
Stock compensation expense | 1,836 | 1,836 | ||||||
Deferred benefits for directors- net | (5) | 14 | (19) | |||||
Ending Balance at Sep. 30, 2021 | 2,723,983 | 144,484 | $ 141,834 | 1,634,086 | 946,746 | (146,102) | 4,463 | (1,528) |
Ending Balance, shares at Sep. 30, 2021 | 63,838,549 | |||||||
Beginning Balance at Dec. 31, 2021 | 2,693,166 | 144,484 | $ 141,834 | 1,635,642 | 977,765 | (199,759) | (5,120) | (1,680) |
Beginning Balance, shares at Dec. 31, 2021 | 62,307,245 | |||||||
Net income | 139,903 | 139,903 | ||||||
Other comprehensive income (loss) | (261,520) | (261,520) | ||||||
Comprehensive income (loss) | (121,617) | |||||||
Common dividends declared | (60,750) | (60,750) | ||||||
Preferred dividends declared | (7,594) | (7,594) | ||||||
Stock issued for dividend reinvestment | (792) | 792 | ||||||
Stock issued for dividend reinvestment, shares | 23,478 | |||||||
Treasury shares acquired | (113,600) | (113,600) | ||||||
Treasury shares acquired, shares | (3,250,383) | |||||||
Stock options exercised | 1,629 | (384) | 2,013 | |||||
Stock options exercised, shares | 59,959 | |||||||
Restricted stock granted | (5,521) | 5,521 | ||||||
Restricted stock granted, shares | 164,206 | |||||||
Stock compensation expense | 4,519 | 4,519 | ||||||
Deferred benefits for directors- net | (101) | 24 | (125) | |||||
Ending Balance at Sep. 30, 2022 | 2,395,652 | 144,484 | $ 141,834 | 1,634,280 | 1,048,532 | (305,033) | (266,640) | (1,805) |
Ending Balance, shares at Sep. 30, 2022 | 59,304,505 | |||||||
Beginning Balance at Jun. 30, 2022 | 2,467,951 | 144,484 | $ 141,834 | 1,632,617 | 1,018,209 | (291,337) | (176,061) | (1,795) |
Beginning Balance, shares at Jun. 30, 2022 | 59,698,788 | |||||||
Net income | 53,033 | 53,033 | ||||||
Other comprehensive income (loss) | (90,579) | (90,579) | ||||||
Comprehensive income (loss) | (37,546) | |||||||
Common dividends declared | (20,024) | (20,024) | ||||||
Preferred dividends declared | (2,531) | (2,531) | ||||||
Stock issued for dividend reinvestment | (155) | 155 | ||||||
Stock issued for dividend reinvestment, shares | 4,832 | |||||||
Treasury shares acquired | (14,180) | (14,180) | ||||||
Treasury shares acquired, shares | (409,340) | |||||||
Stock options exercised | 251 | (78) | 329 | |||||
Stock options exercised, shares | 10,225 | |||||||
Stock compensation expense | 1,727 | 1,727 | ||||||
Deferred benefits for directors- net | 4 | 14 | (10) | |||||
Ending Balance at Sep. 30, 2022 | $ 2,395,652 | $ 144,484 | $ 141,834 | $ 1,634,280 | $ 1,048,532 | $ (305,033) | $ (266,640) | $ (1,805) |
Ending Balance, shares at Sep. 30, 2022 | 59,304,505 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common dividends declared, per share | $ 0.34 | $ 0.33 | $ 1.02 | $ 0.99 |
Preferred dividends declared, per share | $ 16.875 | $ 16.875 | $ 16.875 | $ 16.875 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
OPERATING ACTIVITIES | ||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 196,674 | $ 276,138 |
INVESTING ACTIVITIES | ||
Net (increase) decrease in loans held for investment | (533,917) | 919,999 |
Available-for-sale debt securities: | ||
Proceeds from maturities, prepayments and calls | 484,434 | 636,120 |
Purchases of securities | (468,399) | (1,691,731) |
Held-to-maturity debt securities: | ||
Proceeds from maturities, prepayments and calls | 75,247 | 77,806 |
Purchases of securities | (335,042) | (302,710) |
Purchases of bank owned life insurance | (40,000) | |
Proceeds from bank owned life insurance | 7,816 | 2,375 |
Purchases of premises and equipment – net | (5,281) | (5,856) |
Net cash used in investing activities | (775,142) | (403,997) |
FINANCING ACTIVITIES | ||
(Decrease) increase in deposits | (119,900) | 997,027 |
Repayment of Federal Home Loan Bank borrowings | (126,980) | (340,153) |
Decrease in other short-term borrowings | (13,910) | (89,404) |
Principal repayments of finance lease obligations | (389) | (331) |
Issuance of subordinated debt, net of issuance costs | 147,702 | |
Repayment of subordinated and junior subordinated debt | (25,000) | |
Dividends paid to common shareholders | (61,292) | (65,311) |
Dividends paid to preferred shareholders | (7,594) | (7,594) |
Treasury shares purchased - net | (111,971) | (125,706) |
Net cash (used in) provided by financing activities | (294,334) | 343,528 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (872,802) | 215,669 |
Cash, cash equivalents and restricted cash at beginning of the period | 1,251,358 | 905,447 |
Cash, cash equivalents and restricted cash at end of the period | 378,556 | 1,121,116 |
SUPPLEMENTAL DISCLOSURES | ||
Interest paid on deposits and other borrowings | 18,763 | 26,547 |
Income taxes paid | 21,820 | 34,595 |
Transfers of loans to other real estate owned | $ 1,554 | $ 526 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation — The accompanying unaudited interim financial statements of Wesbanco, Inc. and its consolidated subsidiaries (“Wesbanco”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2021. Wesbanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly Wesbanco’s financial position and results of operations for each of the interim periods presented. Certain prior period amounts have been reclassified to conform to the current period presentation. Such reclassifications had no impact on Wesbanco’s net income and shareholders’ equity. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year. Recent accounting pronouncements— The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) as noted below. ASU 2022-04 Liabilities – Supplier Finance Programs (Sub-topic 405-50) In September 2022, the FASB issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50).” The amendments in this ASU require that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. To achieve that objective, the buyer should disclose qualitative and quantitative information about its supplier finance programs. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Wesbanco is currently assessing the impact of ASU 2022-04 on its Consolidated Financial Statements. ASU 2022-03 Fair Value Measurement (Topic 820) In June 2022, the FASB issued ASU 2022-03, "Fair Value Measurement (Topic 820).” The amendments in this ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security, and therefore, is not considered in measuring fair value. Furthermore, the amendments to this ASU clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The update to this ASU requires the following disclosures for equity securities: (1) The fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet; (2) The nature and remaining duration of the restriction(s) and; (3) The circumstances that could cause a lapse in the restriction(s). The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Wesbanco is currently assessing the impact of ASU 2022-03 on its Consolidated Financial Statements. ASU 2022-02 Financial Instruments - Credit Losses (Topic 326) In March 2022, the FASB issued ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326)". The amendments in this ASU eliminate the accounting guidance for Troubled Debt Restructurings ("TDRs") by creditors in Subtopic 310-40, "Receivables - Troubled Debt Restructurings by Creditors," while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. In addition, for public business entities, the amendments in this Update require that an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, "Financial Instruments - Credit Losses - Measured at Amortized Cost." The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Wesbanco is currently assessing the impact of ASU 2022-02 on its Consolidated Financial Statements. ASU 2022-01 Derivatives and Hedging (Topic 815) In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815)". The amendments in this ASU address several topics within ASU 2017-12, which was issued in August 2017 to improve the hedge accounting model. ASU 2022-01 expands the current last-of-layer method to allow multiple hedged layers of a single closed portfolio and renames the last-of-layer method as the portfolio layer method. Among other things, the ASU expands the scope of the portfolio layer method to include nonprepayable financial assets, provides additional guidance on the accounting for and disclosure of hedge basis adjustments that are applicable to the portfolio layer method whether a single hedged layer or multiple hedge layers are designated and specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The adoption of this pronouncement is not expected to have a material impact on Wesbanco's Consolidated Financial Statements. ASU 2021-08 Business Combinations (Topic 805) In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805)." The amendments in this Update require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, "Revenue Recognition." The amendments also apply to contract assets and contract liabilities from other contracts to which the provisions of Topic 606 apply, such as contract liabilities from the sale of nonfinancial assets within the scope of Subtopic 610-20, "Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets." For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this pronouncement is not expected to have a material impact on Wesbanco's Consolidated Financial Statements. ASU 2020-04 and ASU 2021-01 Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848)”. This ASU provided temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the transition away from the London Interbank Offered Rate ("LIBOR") or other reference rate expected to be discontinued on financial reporting. The ASU also provides optional expedients for contract modifications that replace a reference rate affected by reference rate reform. The guidance is effective as of March 12, 2020 through December 31, 2022, and can be adopted at any time during this period. In January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform (Topic 848): Scope”. This ASU refines the scope of Topic 848 and addresses questions about whether Topic 848 can be applied to derivative instruments that do not reference a rate that is expected to be discontinued, but that use an interest rate for margining, discounting or contract price alignment that is expected to be modified as a result of reference rate reform. ASU 2021-01 is effective upon issuance through December 31, 2024, and can be adopted at any time during this period. Wesbanco has not offered LIBOR for any new contracts after December 31, 2021. Wesbanco has chosen the One Month Term Secured Overnight Financing Rate ("1M Term SOFR") as its alternative replacement rate for LIBOR on both back-to-back swaps and on one-month variable loans. A transition plan was implemented in 2021 to identify and modify Wesbanco's loans and other financial instruments with attributes that are either directly or indirectly influenced by LIBOR, and Wesbanco continues to assess the impact of adopting the new guidance on the consolidated financial statements on an ongoing basis, with no material impacts expected at this time. |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 2. EARNINGS PER COMMON SHARE Earnings per common share are calculated as follows: For the Three Months For the Nine Months (unaudited, in thousands, except shares and per share amounts) 2022 2021 2022 2021 Numerator for both basic and diluted earnings per common share: Net income available to common shareholders $ 50,502 $ 41,877 $ 132,309 $ 180,518 Denominator: Total average basic common shares outstanding 59,549,244 64,931,764 60,336,637 66,354,750 Effect of dilutive stock options and other stock compensation 148,432 134,084 152,611 155,607 Total diluted average common shares outstanding 59,697,676 65,065,848 60,489,248 66,510,357 Earnings per common share - basic $ 0.85 $ 0.64 $ 2.19 $ 2.72 Earnings per common share - diluted $ 0.85 $ 0.64 $ 2.19 $ 2.71 As of September 30, 2022 and 2021 , 522,711 and 534,961 options to purchase shares were not included in the diluted share computation for the three and nine months ended September 30, 2022 and 2021, respectively, because the exercise price was greater than the average market price of a common share, and, therefore, the effect would be antidilutive. As of September 30, 2022 , an aggregate of 36,000 contingently issuable shares were estimated to be awarded under the 2022 and 2021 total shareholder return ("TSR") plans, as stock performance targets had been met as of such date and therefore those shares were included in the diluted calculation. As of September 30, 2022 , no shares related to the 2020 TSR plan were included in the calculation because the effect would be antidilutive. As of September 30, 2021 , no shares related to the 2021, 2020 and 2019 TSR plans were included in the calculation because the effect would be antidilutive. In addition, performance-based restricted stock ("PBRS") compensation totaling 55,230 and 61,267 shares were estimated to be awarded as of September 30, 2022 and September 30, 2021 , respectively, and are included in the diluted calculation for both the three and nine months then ended. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 3. SECURITIES The following table presents the fair value and amortized cost of available-for-sale and held-to-maturity debt securities: September 30, 2022 December 31, 2021 (unaudited, in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale debt securities U.S. Government sponsored entities and agencies $ 263,336 $ 1 $ ( 34,491 ) $ 228,846 $ 236,096 $ 3,922 $ ( 3,040 ) $ 236,978 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 2,210,727 20 ( 301,086 ) 1,909,661 2,301,170 16,489 ( 32,446 ) 2,285,213 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 407,299 3 ( 9,004 ) 398,298 364,486 4,252 ( 1,245 ) 367,493 Obligations of states and political subdivisions 99,643 69 ( 5,886 ) 93,826 101,003 5,372 ( 35 ) 106,340 Corporate debt securities 15,448 1 ( 332 ) 15,117 16,940 507 ( 9 ) 17,438 Total available-for-sale debt securities $ 2,996,453 $ 94 $ ( 350,799 ) $ 2,645,748 $ 3,019,695 $ 30,542 $ ( 36,775 ) $ 3,013,462 Held-to-maturity debt securities U.S. Government sponsored entities and agencies $ 4,871 $ — $ ( 474 ) $ 4,397 $ 5,944 $ 72 $ ( 8 ) $ 6,008 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 47,973 — ( 4,213 ) 43,760 58,147 1,409 ( 16 ) 59,540 Obligations of states and political subdivisions 1,189,219 204 ( 191,468 ) 997,955 907,649 23,854 ( 3,500 ) 928,003 Corporate debt securities 20,404 — ( 683 ) 19,721 33,083 1,818 — 34,901 Total held-to-maturity debt securities (1) $ 1,262,467 $ 204 $ ( 196,838 ) $ 1,065,833 $ 1,004,823 $ 27,153 $ ( 3,524 ) $ 1,028,452 Total debt securities $ 4,258,920 $ 298 $ ( 547,637 ) $ 3,711,581 $ 4,024,518 $ 57,695 $ ( 40,299 ) $ 4,041,914 (1) Total held-to-maturity debt securities are presented on the balance sheet net of their allowance for credit losses totaling $ 0.2 million at September 30, 2022 and $ 0.3 million at December 31, 2021 . At September 30, 2022 and December 31, 2021 , there were no holdings of any one issuer, other than U.S. government sponsored entities and its agencies, in an amount greater than 10 % of Wesbanco’s shareholders’ equity. Equity securities, of which $ 9.4 million consist of investments in various mutual funds held in grantor trusts formed in connection with the Company’s deferred compensation plan, are recorded at fair value, and totaled $ 12.0 million and $ 13.5 million at September 30, 2022 and December 31, 2021, respectively. The following table presents the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by contractual maturity date at September 30, 2022. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay debt obligations with or without prepayment penalties. Mortgage-backed securities and collateralized mortgage obligations are classified in the table below based on their contractual maturity date; however, regular principal payments and prepayments of principal are received on a monthly basis. (unaudited, in thousands) Amortized Cost Fair Value Available-for-sale debt securities Within one year $ 31,190 $ 30,874 After 1 year through 5 years 153,759 149,576 After 5 years through 10 years 474,806 452,056 After 10 years 2,336,698 2,013,242 Total available-for-sale debt securities $ 2,996,453 $ 2,645,748 Held-to-maturity debt securities Within one year $ 26,906 $ 26,820 After 1 year through 5 years 99,676 97,773 After 5 years through 10 years 350,392 321,926 After 10 years 785,493 619,314 Total held-to-maturity debt securities $ 1,262,467 $ 1,065,833 Total debt securities $ 4,258,920 $ 3,711,581 Securities with an aggregate fair value of $ 2.0 billion and $ 2.1 billion at September 30, 2022 and December 31, 2021 , respectively, were pledged as security for public and trust funds, and securities sold under agreements to repurchase. There were no sales of available-for-sale securities during the nine months ended September 30, 2022 and 2021. Net unrealized losses on available-for-sale securities included in accumulated other comprehensive income, net of tax, as of September 30, 2022 and December 31, 2021 were $ 266.4 million and $ 4.7 million, respectively. The following table presents the gross realized gains and losses on sales and calls of available-for-sale and held-to-maturity debt securities, as well as gains and losses on equity securities from both sales and market adjustments, for the three and nine months ended September 30, 2022 and 2021, respectively. All gains and losses presented in the table below are included in the net securities gains (losses) line item of the income statement. For those equity securities relating to the key officer and director deferred compensation plan, the corresponding change in the obligation to the participant is recognized in employee benefits expense. For the Three Months For the Nine Months (unaudited, in thousands) 2022 2021 2022 2021 Debt securities: Gross realized gains $ 30 $ 22 $ 168 $ 222 Gross realized losses ( 1 ) ( 2 ) ( 12 ) ( 41 ) Net gains on debt securities 29 20 156 181 Equity securities: Net unrealized gains (losses) recognized on securities still held 627 ( 35 ) ( 1,332 ) 559 Net securities gains (losses) $ 656 $ ( 15 ) $ ( 1,176 ) $ 740 The corporate and municipal bonds in Wesbanco’s held-to-maturity debt portfolio are analyzed quarterly to determine if an allowance for current expected credit losses is warranted. Wesbanco uses a database of historical financials of all corporate and municipal issuers and actual historic default and recovery rates on rated and non-rated transactions to estimate expected credit losses on an individual security basis. The expected credit losses are adjusted quarterly and are recorded in an allowance for expected credit losses on the balance sheet, which is deducted from the amortized cost basis of the held-to-maturity portfolio as a contra asset. The losses are recorded on the income statement in the provision for credit losses. Accrued interest receivable on held-to-maturity securities, which was $ 9.5 million and $ 7.0 million as of September 30, 2022 and December 31, 2021 , respectively, is excluded from the estimate of credit losses. Held-to-maturity investments in U.S. Government sponsored entities and agencies as well as mortgage-backed securities and collateralized mortgage obligations, which are all either issued by a direct governmental entity or a government-sponsored entity, have no historical evidence supporting expected credit losses; therefore, Wesbanco has estimated these losses at zero , and will monitor this assumption in the future for any economic or governmental policies that could affect this assumption. The following table provides a roll-forward of the allowance for credit losses on held-to-maturity securities for the nine months ended September 30, 2022 and 2021: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2022 and 2021 Residential mortgage -backed securities and collateralized mortgage obligations Obligations of U.S. Government of government state and Corporate sponsored sponsored entities political debt (unaudited, in thousands) entities and agencies and agencies subdivisions Securities Total Balance at December 31, 2021 $ — $ — $ 174 $ 94 $ 268 Current period provision — — ( 2 ) ( 41 ) ( 43 ) Write-offs — — — — — Recoveries — — — — — Balance at September 30, 2022 $ — $ — $ 172 $ 53 $ 225 . Balance at December 31, 2020 $ — $ — $ 130 $ 196 $ 326 Current period provision — — 35 ( 104 ) ( 69 ) Write-offs — — — — — Recoveries — — — — — Balance at September 30, 2021 $ — $ — $ 165 $ 92 $ 257 The following tables provide information on unrealized losses on available-for-sale debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more, for which an allowance for credit losses has not been recorded, as of September 30, 2022 and December 31, 2021, respectively: September 30, 2022 Less than 12 months 12 months or more Total (unaudited, dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 110,981 $ ( 9,122 ) 36 $ 117,687 $ ( 25,369 ) 12 $ 228,668 $ ( 34,491 ) 48 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 802,738 ( 79,719 ) 374 1,104,411 ( 221,367 ) 128 1,907,149 ( 301,086 ) 502 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 254,304 ( 5,485 ) 50 143,797 ( 3,519 ) 26 398,101 ( 9,004 ) 76 Obligations of state and political subdivisions 79,251 ( 4,725 ) 149 3,171 ( 1,161 ) 2 82,422 ( 5,886 ) 151 Corporate debt and other securities 14,129 ( 319 ) 6 487 ( 13 ) 1 14,616 ( 332 ) 7 Total $ 1,261,403 $ ( 99,370 ) 615 $ 1,369,553 $ ( 251,429 ) 169 $ 2,630,956 $ ( 350,799 ) 784 December 31, 2021 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 114,486 $ ( 1,865 ) 12 $ 32,688 $ ( 1,175 ) 4 $ 147,174 $ ( 3,040 ) 16 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,568,138 ( 29,060 ) 143 141,681 ( 3,386 ) 23 1,709,819 ( 32,446 ) 166 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 131,970 ( 579 ) 25 78,356 ( 666 ) 8 210,326 ( 1,245 ) 33 Obligations of states and political subdivisions 4,307 ( 35 ) 2 — — — 4,307 ( 35 ) 2 Corporate debt securities 6,990 ( 9 ) 5 — — — 6,990 ( 9 ) 5 Total $ 1,825,891 $ ( 31,548 ) 187 $ 252,725 $ ( 5,227 ) 35 $ 2,078,616 $ ( 36,775 ) 222 Unrealized losses on debt securities in the table above represent temporary fluctuations resulting from changes in market rates in relation to fixed yields. Unrealized losses in the available-for-sale portfolio are accounted for as an adjustment, net of taxes, to other comprehensive income in shareholders’ equity. Wesbanco does not believe the securities presented above are impaired due to reasons of credit quality, as substantially all debt securities are rated above investment grade and all are paying principal and interest according to their contractual terms. Wesbanco does not intend to sell, nor is it more likely than not that it will be required to sell, loss position securities prior to recovery of their cost; therefore, management believes the unrealized losses detailed above do not require an allowance for credit losses relating to these securities to be recognized. Securities that do not have readily determinable fair values and for which Wesbanco does not exercise significant influence are carried at cost. Cost method investments consist primarily of Federal Home Loan Bank (“FHLB”) of Pittsburgh stock totaling $ 11.4 million and $ 15.9 million at September 30, 2022 and December 31, 2021, respectively, and are included in other assets in the Consolidated Balance Sheets. Cost method investments are evaluated for impairment whenever events or circumstances suggest that their carrying value may not be recoverable. |
Loans and the Allowance for Cre
Loans and the Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Loans and the Allowance for Credit Losses | NOTE 4. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. Net deferred loan costs were $ 9.9 million and $ 3.3 million at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022 and December 31, 2021 , respectively, the balance also included $ 0.5 million and $ 6.1 million of net deferred fee income from SBA Payroll Protection Program (“PPP”) loans. The un-accreted discount on purchased loans from acquisitions was $ 19.7 million at September 30, 2022 and $ 25.9 million at December 31, 2021. September 30, December 31, (unaudited, in thousands) 2022 2021 Commercial real estate: Land and construction $ 955,644 $ 833,880 Improved property 4,875,740 4,705,088 Total commercial real estate 5,831,384 5,538,968 Commercial and industrial 1,503,848 1,427,645 Commercial and industrial - PPP 13,008 162,675 Residential real estate 2,010,344 1,721,378 Home equity 609,765 605,682 Consumer 309,313 277,130 Total portfolio loans 10,277,662 9,733,478 Loans held for sale 12,887 25,277 Total loans $ 10,290,549 $ 9,758,755 The allowance for credit losses under the current expected credit losses methodology (“CECL”) is calculated utilizing the probability of default (“PD”) / loss given default (“LGD”), which is then discounted to net present value. PD is the probability the asset will default within a given time frame and LGD is the percentage of the asset not expected to be collected due to default. The primary macroeconomic drivers of the quantitative model include forecasts of national unemployment and interest rates, as well as modeling adjustments for changes in prepayment speeds, loan risk grades, portfolio mix, concentrations and loan growth. For the calculation as of September 30, 2022, the one-year forecast was based upon a blended rate from three nationally-recognized published economic forecasts through September 30, 2022 , and is primarily driven by the national unemployment and interest rate spread forecasts. Wesbanco’s blended forecast of national unemployment, at quarter end, was projected at 4.2 % in the first quarter of the one-year forecast period, with subsequent increases to an average of 4.7 % over the remainder of the forecast period. The calculation utilized an immediate reversion back to the Company’s historical loss rate by loan classification. Included in the qualitative factors were COVID-19 pandemic factors related to the transient credit risk not covered by the traditional allowance process, adjusted to Wesbanco’s regional footprint, deferred interest on modified loans, and hospitality industry concentration. As of September 30, 2022 , accrued interest receivable for loans was $ 46.5 million. Wesbanco made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses because the Company has a robust policy in place to reverse or write-off accrued interest when loans are placed on non-accrual. However, Wesbanco does have a $ 0.2 million reserve on the accrued interest related to loan modifications allowed under the CARES Act due to the timing and nature of these modifications. As of September 30, 2022 , accrued interest related to COVID-19 loan modifications as permitted under the CARES Act was $ 18.8 million. The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2022 and 2021 (unaudited, in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at December 31, 2021 Allowance for credit $ 7,310 $ 65,355 $ 26,875 $ 15,401 $ 724 $ 3,737 $ 2,220 $ 121,622 Allowance for credit 4,180 201 1,497 1,576 49 272 — 7,775 Total beginning allowance for credit 11,490 65,556 28,372 16,977 773 4,009 2,220 129,397 Provision for credit losses: Provision for loan losses 1,369 ( 12,082 ) 2,160 1,133 37 1,216 260 ( 5,907 ) Provision for loan commitments 1,618 ( 201 ) ( 1,214 ) 788 7 165 — 1,163 Total provision for credit 2,987 ( 12,283 ) 946 1,921 44 1,381 260 ( 4,744 ) Charge-offs ( 73 ) ( 642 ) ( 983 ) ( 282 ) ( 266 ) ( 2,511 ) ( 1,215 ) ( 5,972 ) Recoveries 25 899 871 483 293 1,992 278 4,841 Net (charge-offs) recoveries ( 48 ) 257 ( 112 ) 201 27 ( 519 ) ( 937 ) ( 1,131 ) Balance at September 30, 2022 Allowance for credit 8,631 53,530 28,923 16,735 788 4,434 1,543 114,584 Allowance for credit 5,798 — 283 2,364 56 437 — 8,938 Total ending allowance for credit $ 14,429 $ 53,530 $ 29,206 $ 19,099 $ 844 $ 4,871 $ 1,543 $ 123,522 Balance at December 31, 2020 Allowance for credit $ 10,841 $ 110,652 $ 37,850 $ 17,851 $ 1,487 $ 6,507 $ 639 $ 185,827 Allowance for credit 6,508 712 1,275 955 45 19 — 9,514 Total beginning allowance for credit 17,349 111,364 39,125 18,806 1,532 6,526 639 195,341 Provision for credit losses: Provision for loan losses ( 3,665 ) ( 29,171 ) ( 10,669 ) ( 3,481 ) ( 877 ) ( 2,268 ) 1,709 ( 48,422 ) Provision for loan commitments ( 2,829 ) ( 394 ) 451 254 7 287 — ( 2,224 ) Total provision for credit ( 6,494 ) ( 29,565 ) ( 10,218 ) ( 3,227 ) ( 870 ) ( 1,981 ) 1,709 ( 50,646 ) Charge-offs ( 22 ) ( 933 ) ( 1,717 ) ( 842 ) ( 382 ) ( 2,210 ) ( 932 ) ( 7,038 ) Recoveries 110 1,053 1,737 885 471 1,718 264 6,238 Net (charge-offs) recoveries 88 120 20 43 89 ( 492 ) ( 668 ) ( 800 ) Balance at September 30, 2021 Allowance for credit 7,264 81,601 27,201 14,413 699 3,747 1,680 136,605 Allowance for credit 3,679 318 1,726 1,209 52 306 — 7,290 Total ending allowance for credit $ 10,943 $ 81,919 $ 28,927 $ 15,622 $ 751 $ 4,053 $ 1,680 $ 143,895 The following tables present the allowance for credit losses and recorded investments in loans by category, as of each period-end: Allowance for Credit Losses and Recorded Investment in Loans (unaudited, in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total September 30, 2022 Allowance for credit losses: Loans individually-evaluated $ 297 $ 3,940 $ 184 $ — $ — $ — $ — $ 4,421 Loans collectively-evaluated 8,334 49,590 28,739 16,735 788 4,434 1,543 110,163 Loan commitments 5,798 — 283 2,364 56 437 — 8,938 Total allowance for credit $ 14,429 $ 53,530 $ 29,206 $ 19,099 $ 844 $ 4,871 $ 1,543 $ 123,522 Portfolio loans: Individually-evaluated for credit $ 1,115 $ 30,732 $ 437 $ — $ — $ — $ — $ 32,284 Collectively-evaluated for credit 954,529 4,845,008 1,516,419 2,010,344 609,765 309,313 — 10,245,378 Total portfolio loans $ 955,644 $ 4,875,740 $ 1,516,856 $ 2,010,344 $ 609,765 $ 309,313 $ — $ 10,277,662 December 31, 2021 Allowance for credit losses: Loans individually-evaluated $ 381 $ 8,560 $ 333 $ — $ — $ — $ — $ 9,274 Loans collectively-evaluated 6,929 56,795 26,542 15,401 724 3,737 2,220 112,348 Loan commitments 4,180 201 1,497 1,576 49 272 — 7,775 Total allowance for credit $ 11,490 $ 65,556 $ 28,372 $ 16,977 $ 773 $ 4,009 $ 2,220 $ 129,397 Portfolio loans: Individually-evaluated for credit $ 1,248 $ 66,635 $ 576 $ — $ — $ — $ — $ 68,459 Collectively-evaluated for credit 832,632 4,638,453 1,589,744 1,721,378 605,682 277,130 — 9,665,019 Total portfolio loans $ 833,880 $ 4,705,088 $ 1,590,320 $ 1,721,378 $ 605,682 $ 277,130 $ — $ 9,733,478 Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at inception and adjusted thereafter at any time to reflect changes in the risk profile throughout the life of each loan. The primary factors used to determine the risk grade are the sufficiency, reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. The rating system more heavily weights the debt service coverage, leverage and loan to value factors to derive the risk grade. Other factors that are considered at a lesser weighting include management, industry or property type risks, payment history, collateral or guarantees. Commercial real estate – land and construction consists of loans to finance investments in vacant land, land development, construction of residential housing, and construction of commercial buildings. Commercial real estate – improved property consists of loans for the purchase or refinance of all types of improved owner-occupied and investment properties. Factors that are considered in assigning the risk grade vary depending on the type of property financed. The risk grade assigned to construction and development loans is based on the overall viability of the project, the experience and financial capacity of the developer or builder to successfully complete the project, project specific and market absorption rates and comparable property values, and the amount of pre-sales for residential housing construction or pre-leases for commercial investment property. The risk grade assigned to commercial investment property loans is based primarily on the adequacy of the net operating income generated by the property to service the debt (“debt service coverage”), the loan to appraised value, the type, quality, industry and mix of tenants, and the terms of leases. The risk grade assigned to owner-occupied commercial real estate is based primarily on global debt service coverage and the leverage of the business, but may also consider the industry in which the business operates, the business’ specific competitive advantages or disadvantages, collateral margins and the quality and experience of management. Commercial and industrial (“C&I”) loans consist of revolving lines of credit to finance accounts receivable, inventory and other general business purposes; term loans to finance fixed assets other than real estate, and letters of credit to support trade, insurance or governmental requirements for a variety of businesses. Most C&I borrowers are privately-held companies with annual sales up to $ 100 million. Primary factors that are considered in risk rating C&I loans include debt service coverage and leverage. Other factors including operating trends, collateral coverage along with management experience are also considered. Pass loans are those that exhibit a history of positive financial results that are at least comparable to the average for their industry or type of real estate. The primary source of repayment is acceptable and these loans are expected to perform satisfactorily during most economic cycles. Pass loans typically have no significant external factors that are expected to adversely affect these borrowers more than others in the same industry or property type. Any minor unfavorable characteristics of these loans are outweighed or mitigated by other positive factors including but not limited to adequate secondary or tertiary sources of repayment, including guarantees. Criticized loans, considered as compromised, have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the bank's credit position at some future date. Criticized loans are not adversely classified by the banking regulators and do not expose the bank to sufficient risk to warrant adverse classification. Classified loans, considered as substandard and doubtful, are equivalent to the classifications used by banking regulators. Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. These loans may or may not be reported as non-accrual. Doubtful loans have all the weaknesses inherent in those classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. These loans are reported as non-accrual. The following tables summarize commercial loans by their assigned risk grade: Commercial Loans by Internally Assigned Risk Grade (unaudited, in thousands) Commercial Commercial Commercial Total As of September 30, 2022 Pass $ 923,333 $ 4,698,327 $ 1,476,543 $ 7,098,203 Criticized - compromised 25,180 113,584 24,412 163,176 Classified - substandard 7,131 63,829 15,901 86,861 Classified - doubtful — — — — Total $ 955,644 $ 4,875,740 $ 1,516,856 $ 7,348,240 As of December 31, 2021 Pass $ 823,316 $ 4,400,872 $ 1,540,569 $ 6,764,757 Criticized - compromised 7,955 222,830 17,733 248,518 Classified - substandard 2,609 81,386 32,018 116,013 Classified - doubtful — — — — Total $ 833,880 $ 4,705,088 $ 1,590,320 $ 7,129,288 Residential real estate, home equity and consumer loans are not assigned internal risk grades other than as required by regulatory guidelines that are based primarily on the age of past due loans. Wesbanco primarily evaluates the credit quality of residential real estate, home equity and consumer loans based on repayment performance and historical loss rates. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard in accordance with regulatory guidelines was $ 26.5 million at September 30, 2022 and $ 30.2 million at December 31, 2021 , of which $ 7.0 million and $ 7.4 million were accruing, for each period, respectively. These loans are not included in the tables above. In addition, $ 27.3 million and $ 21.7 million of unfunded commercial loan commitments are also not included in the tables above at September 30, 2022 and December 31, 2021, respectively. The following tables summarize the age analysis of all categories of loans: Age Analysis of Loans (unaudited, in thousands) Current 30-59 60-89 90 Days Total Total 90 Days Due and As of September 30, 2022 Commercial real estate: Land and construction $ 955,075 $ 134 $ 140 $ 295 $ 569 $ 955,644 $ 295 Improved property 4,852,702 2,473 2,143 18,422 23,038 4,875,740 13,913 Total commercial real estate 5,807,777 2,607 2,283 18,717 23,607 5,831,384 14,208 Commercial and industrial 1,500,637 4,717 3,486 8,016 16,219 1,516,856 6,082 Residential real estate 1,998,214 1,079 2,758 8,293 12,130 2,010,344 2,456 Home equity 603,115 2,571 782 3,297 6,650 609,765 1,006 Consumer 305,452 2,288 895 678 3,861 309,313 559 Total portfolio loans 10,215,195 13,262 10,204 39,001 62,467 10,277,662 24,311 Loans held for sale 12,887 — — — — 12,887 — Total loans $ 10,228,082 $ 13,262 $ 10,204 $ 39,001 $ 62,467 $ 10,290,549 $ 24,311 Nonperforming loans included above are as follows: Non-accrual loans $ 12,189 $ 721 $ 882 $ 14,392 $ 15,995 $ 28,184 TDRs accruing interest 4,258 27 - 298 325 4,583 Total nonperforming loans $ 16,447 $ 748 $ 882 $ 14,690 $ 16,320 $ 32,767 As of December 31, 2021 Commercial real estate: Land and construction $ 833,755 $ — $ — $ 125 $ 125 $ 833,880 $ 51 Improved property 4,681,028 6,377 7,728 9,955 24,060 4,705,088 3,042 Total commercial real estate 5,514,783 6,377 7,728 10,080 24,185 5,538,968 3,093 Commercial and industrial 1,583,347 2,275 1,213 3,485 6,973 1,590,320 559 Residential real estate 1,702,587 2,331 3,254 13,206 18,791 1,721,378 2,840 Home equity 599,189 2,240 602 3,651 6,493 605,682 685 Consumer 273,577 1,532 1,208 813 3,553 277,130 627 Total portfolio loans 9,673,483 14,755 14,005 31,235 59,995 9,733,478 7,804 Loans held for sale 25,277 — — — — 25,277 — Total loans $ 9,698,760 $ 14,755 $ 14,005 $ 31,235 $ 59,995 $ 9,758,755 $ 7,804 Nonperforming loans included above are as follows: Non-accrual loans $ 11,174 $ 914 $ 564 $ 23,090 $ 24,568 $ 35,742 TDRs accruing interest 3,275 3 127 341 471 3,746 Total nonperforming loans $ 14,449 $ 917 $ 691 $ 23,431 $ 25,039 $ 39,488 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. The following tables summarize nonperforming loans: Nonperforming Loans September 30, 2022 December 31, 2021 Unpaid Unpaid Principal Recorded Related Principal Recorded Related (unaudited, in thousands) Balance (1) Investment Allowance Balance (1) Investment Allowance With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ — $ — $ 74 $ 73 $ — Improved property 8,424 6,767 — 9,846 8,089 — Commercial and industrial 4,489 3,562 — 6,528 5,256 — Residential real estate 22,264 17,125 — 25,492 20,065 — Home equity 6,486 4,928 — 6,985 5,440 — Consumer 698 385 — 869 565 — Total nonperforming loans without a specific allowance 42,361 32,767 — 49,794 39,488 — Total nonperforming loans with a specific allowance — — — — — — Total nonperforming loans $ 42,361 $ 32,767 $ — $ 49,794 $ 39,488 $ — (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off and fair market value adjustments on acquired nonperforming loans. Nonperforming Loans For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Average Interest Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Recorded Income (unaudited, in thousands) Investment Recognized Investment Recognized Investment Recognized Investment Recognized With no related specific allowance recorded: Commercial real estate: Land and construction $ 27 $ ( 2 ) $ 110 $ — $ 70 $ — $ 202 $ — Improved property 7,086 57 6,271 6 7,505 71 6,987 23 Commercial and industrial 4,010 5 5,021 ( 2 ) 4,514 8 3,783 1 Residential real estate 17,467 24 21,549 ( 15 ) 18,327 96 21,198 125 Home equity 5,046 14 5,544 — 5,279 20 5,591 9 Consumer 396 1 411 1 468 3 384 2 Total nonperforming loans without a specific allowance 34,030 99 38,906 ( 10 ) 36,163 198 38,145 160 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — — — Improved property — — 2,084 — — — 2,087 — Total nonperforming loans with a specific allowance — — 2,084 — — — 2,087 — Total nonperforming loans $ 34,030 $ 99 $ 40,990 $ ( 10 ) $ 36,163 $ 198 $ 40,232 $ 160 The following tables present the recorded investment in non-accrual loans and TDRs: Non-accrual Loans (1) September 30, December 31, (unaudited, in thousands) 2022 2021 Commercial real estate: Land and construction $ — $ 73 Improved property 5,339 7,715 Total commercial real estate 5,339 7,788 Commercial and industrial 3,388 5,064 Residential real estate 14,470 17,190 Home equity 4,642 5,163 Consumer 345 537 Total $ 28,184 $ 35,742 (1) At September 30, 2022 , there was one borrower with a loan balance greater than $ 1.0 million, which totaled $ 1.1 million, as compared to three borrowers with a loan balance greater than $ 1.0 million totaling $ 4.1 million at December 31, 2021. Total non-accrual loans include loans that are also TDRs. Such loans are also set forth in the following table as non-accrual TDRs. TDRs September 30, 2022 December 31, 2021 (unaudited, in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ — $ — $ — $ — $ — Improved property 1,428 29 1,457 374 133 507 Total commercial real estate 1,428 29 1,457 374 133 507 Commercial and industrial 174 — 174 192 — 192 Residential real estate 2,655 1,503 4,158 2,875 1,156 4,031 Home equity 286 224 510 277 258 535 Consumer 40 — 40 28 — 28 Total $ 4,583 $ 1,756 $ 6,339 $ 3,746 $ 1,547 $ 5,293 As of September 30, 2022 , there was one TDR greater than $ 1.0 million, which totaled $ 1.1 million; there were no such TDRs as of December 31, 2021 . The concessions granted in the majority of loans reported as accruing and non-accrual TDRs are extensions of the maturity date or the amortization period, reductions in the interest rate below the prevailing market rate for loans with comparable characteristics, and/or permitting interest-only payments for longer than six months . Wesbanco had unfunded commitments to debtors whose loans were classified as nonperforming of $ 0.1 million as of both September 30, 2022 and December 31, 2021. The following table presents details related to loans identified as TDRs during the three and nine months ended September 30, 2022 and 2021, respectively: New TDRs (1) For the Three Months Ended September 30, 2022 September 30, 2021 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded (unaudited, dollars in thousands) Modifications Investment Investment Modifications Investment Investment Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved property 1 1,097 1,075 — — — Total commercial real estate 1 1,097 1,075 — — — Commercial and industrial — — — — — — Residential real estate — — — 1 102 101 Home equity — — — — — — Consumer — — — — — — Total 1 $ 1,097 $ 1,075 1 $ 102 $ 101 New TDRs (1) For the Nine Months Ended September 30, 2022 September 30, 2021 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded (unaudited, dollars in thousands) Modifications Investment Investment Modifications Investment Investment Commercial real estate: Land and construction 1 $ 84 $ — — $ — $ — Improved property 2 1,286 1,075 — — — Total commercial real estate 3 1,370 1,075 — — — Commercial and industrial — — — — — — Residential real estate — — — 1 103 101 Home equity — — — 1 57 55 Consumer — — — — — — Total 3 $ 1,370 $ 1,075 2 $ 160 $ 156 (1) Excludes loans that were either paid off or charged-off by period end. The pre-modification balance represents the balance outstanding at the beginning of the period. The post-modification balance represents the outstanding balance at period end. The following table summarizes TDRs which defaulted (defined as past due 90 days) during the nine months ended September 30, 2022 and 2021, respectively, that were restructured within the last twelve months prior to September 30, 2022 and 2021, respectively. Defaulted TDRs (1) For the Nine Months Ended September 30, 2022 September 30, 2021 Number of Recorded Number of Recorded (unaudited, dollars in thousands) Defaults Investment Defaults Investment Commercial real estate: Land and construction — $ — — $ — Improved property — — — — Total commercial real estate — — — — Commercial and industrial — — — — Residential real estate — — 1 234 Home equity — — — — Consumer — — — — Total — $ — 1 $ 234 (1) Excludes loans that were either charged-off or cured by period end. The recorded investment is as of September 30, 2022 and 2021 , respectively. TDRs that default are placed on non-accrual status unless they are both well-secured and in the process of collection. The loans in the table above were not accruing interest. Section 4013 of the CARES Act allows financial institutions the option to temporarily suspend certain requirements under GAAP related to TDRs for a limited period of time during the COVID-19 pandemic. These customers must meet certain criteria, such as they were in good standing and not more than 30 days past due either as of December 31, 2019, or as of the implementation of the modification program under the Interagency Statement, as well as other requirements noted in the regulatory agencies’ revised statement. Based on this guidance, Wesbanco does not classify the COVID-19 loan modifications as TDRs, nor are the customers considered past due with regard to their delayed payments. Upon exiting the loan modification deferral program, the measurement of loan delinquency will resume where it left off upon entry into the program. Under the CARES Act, Wesbanco has modified approximately 3,553 loans totaling $ 2.2 billion, of which $ 32.6 million rem ain in their deferral period as of September 30, 2022 . Wesbanco originally offered three to six months of deferred payments to commercial and retail customers impacted by the COVID-19 pandemic depending on the type of loan and the industry for commercial loans. In the fourth quarter of 2020, Wesbanco offered up to an additional twelve months of deferred payments to certain commercial loan customers, predominantly in the hospitality industry, based on specific criteria related to the borrower, the underlying property and the potential for guarantors or co-borrowers. On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (“Economic Aid Act”) was signed into law and among other things, extended the relief granted by the CARES Act for TDRs, initially slated to end on December 31, 2020, by one year to December 31, 2021. The following tables summarize amortized cost basis loan balances by year of origination and credit quality indicator: Loans As of September 30, 2022 Amortized Cost Basis by Origination Year (unaudited, in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: land and construction Risk rating: Pass $ 129,030 $ 155,816 $ 164,359 $ 182,096 $ 92,973 $ 54,518 $ 93,043 $ 51,498 $ 923,333 Criticized - compromised — 393 — — 24,448 339 — — 25,180 Classified - substandard — — 6,001 — — 1,130 — — 7,131 Classified - doubtful — — — — — — — — — Total $ 129,030 $ 156,209 $ 170,360 $ 182,096 $ 117,421 $ 55,987 $ 93,043 $ 51,498 $ 955,644 Commercial real estate: improved property Risk rating: Pass $ 799,090 $ 617,653 $ 619,263 $ 539,169 $ 359,321 $ 1,654,366 $ 82,767 $ 26,698 $ 4,698,327 Criticized - compromised 134 989 2,602 6,153 13,343 89,320 1,043 — 113,584 Classified - substandard — — 402 16,951 9,911 36,531 34 — 63,829 Classified - doubtful — — — — — — — — — Total $ 799,224 $ 618,642 $ 622,267 $ 562,273 $ 382,575 $ 1,780,217 $ 83,844 $ 26,698 $ 4,875,740 Commercial and industrial Risk rating: Pass $ 193,429 $ 203,882 $ 124,640 $ 79,989 $ 109,885 $ 260,849 $ 492,838 $ 11,031 $ 1,476,543 Criticized - compromised 297 728 298 8,695 199 2,359 7,592 4,244 24,412 Classified - substandard — 3,383 1,001 2,388 405 2,585 558 5,581 15,901 Classified - doubtful — — — — — — — — — Total $ 193,726 $ 207,993 $ 125,939 $ 91,072 $ 110,489 $ 265,793 $ 500,988 $ 20,856 $ 1,516,856 Residential real estate Loan delinquency: Current $ 393,074 $ 640,158 $ 238,285 $ 99,970 $ 61,470 $ 500,020 $ — $ 65,237 $ 1,998,214 30-59 days past due — — — — — 1,079 — — 1,079 60-89 days past due — 365 — 282 101 2,010 — — 2,758 90 days or more past due — — — 287 120 7,840 — 46 8,293 Total $ 393,074 $ 640,523 $ 238,285 $ 100,539 $ 61,691 $ 510,949 $ — $ 65,283 $ 2,010,344 Home equity Loan delinquency: Current $ 14,454 $ 874 $ 575 $ 1,146 $ 888 $ 17,428 $ 567,035 $ 715 $ 603,115 30-59 days past due 39 — — 93 77 908 1,454 — 2,571 60-89 days past due 175 — 376 26 115 90 — — 782 90 days or more past due — 66 117 85 199 2,091 — 739 3,297 Total $ 14,668 $ 940 $ 1,068 $ 1,350 $ 1,279 $ 20,517 $ 568,489 $ 1,454 $ 609,765 Consumer Loan delinquency: Current $ 68,756 $ 40,850 $ 29,033 $ 30,726 $ 10,761 $ 28,804 $ 96,352 $ 170 $ 305,452 30-59 days past due 661 653 346 71 75 330 152 — 2,288 60-89 days past due 267 280 118 37 47 146 — — 895 90 days or more past due 118 178 95 40 16 214 17 — 678 Total $ 69,802 $ 41,961 $ 29,592 $ 30,874 $ 10,899 $ 29,494 $ 96,521 $ 170 $ 309,313 Loans As of December 31, 2021 Amortized Cost Basis by Origination Year (unaudited, in thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: land and construction Risk rating: Pass $ 135,179 $ 217,389 $ 198,974 $ 117,157 $ 27,186 $ 29,696 $ 35,059 $ 62,676 $ 823,316 Criticized - compromised 85 6,236 — 33 — 219 856 526 7,955 Classified - substandard — 73 — — — 1,280 — 1,256 2,609 Classified - doubtful — — — — — — — — — Total $ 135,264 $ 223,698 $ 198,974 $ 117,190 $ 27,186 $ 31,195 $ 35,915 $ 64,458 $ 833,880 Commercial real estate: improved property Risk rating: Pass $ 713,697 $ 660,856 $ 589,674 $ 405,689 $ 404,241 $ 1,539,275 $ 58,933 $ 28,507 $ 4,400,872 Criticized - compromised 7,755 15,195 52,859 17,697 14,490 99,687 1,414 13,733 222,830 Classified - substandard 9,355 2,686 4,855 3,730 11,010 49,667 34 49 81,386 Classified - doubtful — — — — — — — — — Total $ 730,807 $ 678,737 $ 647,388 $ 427,116 $ 429,741 $ 1,688,629 $ 60,381 $ 42,289 $ 4,705,088 Commercial and industrial Risk rating: Pass $ 406,495 $ 159,878 $ 99,472 $ 136,146 $ 89,049 $ 223,514 $ 409,789 $ 16,226 $ 1,540,569 Criticized - compromised 590 551 693 2,558 1,645 1,278 5,389 5,029 17,733 Classified - substandard 134 236 18,465 766 2,139 1,419 3,723 5,136 32,018 Classified - doubtful — — — — — — — — — Total $ 407,219 $ 160,665 $ 118,630 $ 139,470 $ 92,833 $ 226,211 $ 418,901 $ 26,391 $ 1,590,320 Residential real estate Loan delinquency: Current $ 599,244 $ 292,653 $ 116,147 $ 71,253 $ 56,917 $ 536,444 $ — $ 29,929 $ 1,702,587 30-59 days past due 1,127 — — 69 105 1,030 — — 2,331 60-89 days past due 563 91 — 271 43 2,286 — — 3,254 90 days or more past due 1,933 673 895 88 762 8,802 — 53 13,206 Total $ 602,867 $ 293,417 $ 117,042 $ 71,681 $ 57,827 $ 548,562 $ — $ 29,982 $ 1,721,378 Home equity Loan delinquency: Current $ 10,076 $ 835 $ 649 $ 379 $ 566 $ 18,064 $ 567,478 $ 1,142 $ 599,189 30-59 days past due — 84 45 128 50 628 1,247 58 2,240 60-89 days past due — — 132 15 188 267 — — 602 90 days or more past due 187 88 119 112 234 2,550 — 361 3,651 Total $ 10,263 $ 1,007 $ 945 $ 634 $ 1,038 $ 21,509 $ 568,725 $ 1,561 $ 605,682 Consumer Loan delinquency: Current $ 60,907 $ 43,871 $ 50,317 $ 19,289 $ 11,084 $ 32,343 $ 55,739 $ 27 $ 273,577 30-59 days past due 435 370 214 136 85 241 51 — 1,532 60-89 days past due 413 375 82 19 33 286 — — 1,208 90 days or more past due 115 141 222 65 1 265 4 — 813 Total $ 61,870 $ 44,757 $ 50,835 $ 19,509 $ 11,203 $ 33,135 $ 55,794 $ 27 $ 277,130 The following table summarizes other real estate owned and repossessed assets included in other assets: September 30, December 31, (unaudited, in thousands) 2022 2021 Other real estate owned $ 1,467 $ — Repossessed assets 128 — Total other real estate owned and repossessed assets $ 1,595 $ — Residential real estate included in other real estate owned was $ 0.1 million and $ 0 at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022 and December 31, 2021 , formal foreclosure proceedings were in process on residential real estate loans totaling $ 3.7 million and $ 4.0 million, respectively. Previously, as a result of provisions of the CARES Act, certain residential real estate loans were temporarily suspended from entering foreclosure proceedings, which included $ 0.8 million of loans as of December 31, 2021. Since this moratorium had substantially ended during the first quarter of 2022, there are currently no loans suspended from entering foreclosure proceedings. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | NOTE 5. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives Wesbanco is exposed to certain risks arising from both its business operations and economic conditions. Wesbanco principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. Wesbanco manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Wesbanco’s existing interest rate derivatives result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in Wesbanco’s assets or liabilities. Wesbanco manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. A matched book is when the Bank's assets and liabilities are equally distributed but also have similar maturities. Loan Swaps Wesbanco executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that Wesbanco executes with a third party, such that Wesbanco minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the hedge accounting requirements of ASC 815, changes in the fair value of both the customer swaps and the offsetting third-party swaps are recognized directly in earnings. As of September 30, 2022 and December 31, 2021 , Wesbanco had 147 and 135 customer interest rate swaps with an aggregate notional amount of $ 816.2 million and $ 730.6 million, respectively, related to this program. Wesbanco recognized income for the related swap fees of $ 1.6 million and $ 0.4 million for the three months ended September 30, 2022 and 2021 , respectively, and $ 2.7 million and $ 3.3 million for the nine months ended September 30, 2022 and 2021, respectively. Risk participation agreements are entered into as financial guarantees of performance on interest rate swap derivatives. The purchased asset or sold liability allows Wesbanco to participate-in (fee received) or participate-out (fee paid) the risk associated with certain derivative positions executed by the borrower of the lead bank in a loan syndication. As of September 30, 2022 and December 31, 2021 , Wesbanco had 14 and 13 risk participation-in agreements with an aggregate notional amount of $ 152.3 million and $ 128.2 million, respectively. As of September 30, 2022 and December 31, 2021 , Wesbanco had one risk participation-out agreement with an aggregate notional amount of $ 9.6 million and $ 9.8 million, respectively. Mortgage Loans Held for Sale and Loan Commitments Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as held for sale and carried at fair value as Wesbanco has elected the fair value option. Fair value is determined based on rates obtained from the secondary market for loans with similar characteristics. Wesbanco sells loans to the secondary market on either a mandatory or best efforts basis. The loans sold on a mandatory basis are not committed to an investor until the loan is closed with the borrower. Wesbanco enters into forward to be announced (“TBA”) contracts to manage the interest rate risk between the loan commitment and the closing of the loan. The total balance of forward TBA contracts entered into was $ 32.0 million and $ 48.5 million at September 30, 2022 and December 31, 2021, respectively. The loans sold on a best efforts basis are committed to an investor simultaneous to the interest rate commitment with the borrower, and as a result, the Company does not enter into a separate forward TBA contract to offset the fair value risk as the investor accepts such risk in exchange for paying a lower premium on sale. Fair Values of Derivative Instruments on the Balance Sheet All derivatives are carried on the consolidated balance sheet at fair value. Derivative assets are classified in the consolidated balance sheet under other assets, and derivative liabilities are classified in the consolidated balance sheet under other liabilities. Changes in fair value are recognized in earnings. None of Wesbanco’s derivatives are designated in a qualifying hedging relationship under ASC 815. The table below presents the fair value of Wesbanco’s derivative financial instruments as well as their classification on the Balance Sheet as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (unaudited, in thousands) Notional or Asset Liability Notional or Asset Liability Derivatives Loan Swaps: Interest rate swaps $ 816,188 $ 76,381 $ 74,514 $ 730,552 $ 24,867 $ 26,388 Other contracts: Interest rate loan commitments 16,936 — 438 28,994 9 — Forward TBA contracts 32,000 1,074 — 48,500 — 21 Total derivatives $ 77,455 $ 74,952 $ 24,876 $ 26,409 Effect of Derivative Instruments on the Income Statement The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within non-interest income on the consolidated income statement for the three and nine months ended September 30, 2022 and 2021, respectively. For the Three Months For the Nine Months (unaudited, in thousands) Location of Gain/(Loss) 2022 2021 2022 2021 Interest rate swaps Other income $ 786 $ 378 $ 3,389 $ 2,106 Interest rate loan commitments Mortgage banking income ( 491 ) ( 226 ) ( 447 ) ( 678 ) Forward TBA contracts Mortgage banking income 1,147 ( 278 ) 3,195 2,621 Total $ 1,442 $ ( 126 ) $ 6,137 $ 4,049 Credit-risk-related Contingent Features Wesbanco has agreements with its derivative counterparties that contain a provision, which provides that if Wesbanco defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Wesbanco could also be declared in default on its derivative obligations. Wesbanco also has agreements with certain of its derivative counterparties that contain a provision where if Wesbanco fails to maintain its status as either a “well” or “adequately-capitalized” institution, then the counterparty could terminate the derivative positions and Wesbanco would be required to settle its obligations under the agreements. Dependent upon the net present value of the underlying swaps, Wesbanco has minimum collateral posting thresholds with certain of its derivative counterparties. If Wesbanco had breached any of these provisions at September 30, 2022, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparties. In certain market situations, Wesbanco can also request collateral from the derivative counterparties. Due to the current rise in interest rates, as of September 30, 2022 , Wesbanco is holding collateral from various derivative counterparties with a market value of $ 44.6 million. |
Benefit Plans
Benefit Plans | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Benefit Plans | NOTE 6. BENEFIT PLANS The following table presents the net periodic pension income for Wesbanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: For the Three Months For the Nine Months (unaudited, in thousands) 2022 2021 2022 2021 Service cost – benefits earned during year $ 552 $ 630 $ 1,638 $ 1,869 Interest cost on projected benefit obligation 1,037 861 3,076 2,555 Expected return on plan assets ( 2,917 ) ( 2,825 ) ( 8,655 ) ( 8,382 ) Amortization of prior service cost ( 9 ) ( 9 ) ( 26 ) ( 26 ) Amortization of net loss 128 690 379 2,047 Net periodic pension income $ ( 1,209 ) $ ( 653 ) $ ( 3,588 ) $ ( 1,937 ) The service cost of $ 1.6 million and $ 1.9 million for the nine months ended September 30, 2022 and 2021 , respectively, is included in salaries and wages, and periodic pension income of $ 5.2 million and $ 3.8 million for the nine months ended September 30, 2022 and 2021, respectively, is included in employee benefits. The Plan covers all employees of Wesbanco and its subsidiaries who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date. A minimum required contribution is not required for 2022 , and Wesbanco currently does no t expect to make a voluntary contribution to the Plan in 2022 . |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 7. FAIR VALUE MEASUREMENT Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments. Fair value is determined at one point in time and is not representative of future value. These amounts do not reflect the total value of a going concern organization. Management does not have the intention to dispose of a significant portion of its assets and liabilities, and therefore the unrealized gains or losses should not be interpreted as a forecast of future earnings and cash flows. The following is a discussion of assets and liabilities measured at fair value on a recurring basis and valuation techniques applied: Investment securities: The fair value of investment securities which are measured on a recurring basis are determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. These securities are classified within level 1 or 2 in the fair value hierarchy. Positions that are not traded in active markets for which valuations are generated using assumptions not observable in the market or management’s best estimate are classified within level 3 of the fair value hierarchy. This includes certain specific municipal debt issues for which the credit quality and discount rate must be estimated. Loans held for sale: Loans held for sale are carried, in aggregate, at fair value as Wesbanco previously elected the fair value option. The use of a valuation model using quoted prices of similar instruments are significant inputs in arriving at the fair value and therefore loans held for sale are classified within level 2 of the fair value hierarchy. Derivatives: Wesbanco enters into interest rate swap agreements with qualifying commercial customers to meet their financing, interest rate and other risk management needs. These agreements provide the customer the ability to convert from variable to fixed interest rates. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies and monitoring. Those interest rate swaps are economically hedged by offsetting interest rate swaps that Wesbanco executes with derivative counterparties in order to offset its exposure on the fixed components of the customer interest rate swap agreements. The interest rate swap agreement with the loan customer and with the counterparty is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period earnings as other income and other expense. Wesbanco enters into forward TBA contracts to manage the interest rate risk between the loan commitments to the customer and the closing of the loan for loans that will be sold on a mandatory basis to secondary market investors. The forward TBA contract is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period’s earnings as mortgage banking income. Wesbanco determines the fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. Wesbanco incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. We may be required from time to time to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or write-downs of individual assets and liabilities. Collateral dependent loans: Collateral dependent loans are carried at the amortized cost basis less the specific allowance calculated under CECL. Collateral dependent loans are calculated using a cost basis approach or collateral value approach. Other real estate owned and repossessed assets: Other real estate owned and repossessed assets are carried at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. The use of independent appraisals and management’s best judgment are significant inputs in arriving at the fair value measure of the underlying collateral, and therefore other real estate owned and repossessed assets are classified within level 3 of the fair value hierarchy. The fair value amounts presented in the table below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. 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 September 30, 2022 and December 31, 2021: September 30, 2022 Fair Value Measurements Using: September 30, Quoted Prices in Significant Significant (unaudited, in thousands) 2022 (level 1) (level 2) (level 3) Recurring fair value measurements Equity securities $ 11,964 $ 11,964 $ — $ — Available-for-sale debt securities U.S. Government sponsored entities and agencies 228,846 — 228,846 — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,909,661 — 1,909,661 — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 398,298 — 398,298 — Obligations of states and political subdivisions 93,826 — 92,651 1,175 Corporate debt securities 15,117 — 15,117 — Total available-for-sale debt securities $ 2,645,748 $ — $ 2,644,573 $ 1,175 Loans held for sale 12,887 — 12,887 — Other assets - interest rate swaps 76,381 — 76,381 — Total assets recurring fair value measurements $ 2,746,980 $ 11,964 $ 2,733,841 $ 1,175 Other liabilities - interest rate swaps $ 74,514 $ — $ 74,514 $ — Total liabilities recurring fair value measurements $ 74,514 $ — $ 74,514 $ — Nonrecurring fair value measurements Collateral dependent loans $ 5,186 $ — $ — $ 5,186 Other real estate owned and repossessed assets 1,595 — — 1,595 Total nonrecurring fair value measurements $ 6,781 $ — $ — $ 6,781 December 31, 2021 Fair Value Measurements Using: December 31, Quoted Prices in Significant Significant (in thousands) 2021 (level 1) (level 2) (level 3) Recurring fair value measurements Equity securities $ 13,466 $ 13,466 $ — $ — Available-for-sale debt securities U.S. Government sponsored entities and agencies 236,978 — 236,978 — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 2,285,213 — 2,285,213 — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 367,493 — 367,493 — Obligations of states and political subdivisions 106,340 — 104,847 1,493 Corporate debt securities 17,438 — 17,438 — Total available-for-sale debt securities $ 3,013,462 $ — $ 3,011,969 $ 1,493 Loans held for sale 25,277 — 25,277 — Other assets - interest rate swaps 24,867 — 24,867 — Total assets recurring fair value measurements $ 3,077,072 $ 13,466 $ 3,062,113 $ 1,493 Other liabilities - interest rate swaps $ 26,388 $ — $ 26,388 $ — Total liabilities recurring fair value measurements $ 26,388 $ — $ 26,388 $ — Nonrecurring fair value measurements Collateral dependent loans $ 13,558 $ — $ — $ 13,558 Other real estate owned and repossessed assets — — — — Total nonrecurring fair value measurements $ 13,558 $ — $ — $ 13,558 Wesbanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no significant transfers between level 1, 2 or 3 for the three and nine months ended September 30, 2022 or for the year ended December 31, 2021. 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 Fair Value Valuation Unobservable Range (Weighted (unaudited, in thousands) Estimate Techniques Input Average) September 30, 2022 Collateral dependent loans $ 5,186 Appraisal of collateral (1) Appraisal adjustments (2) ( 0.0 %)/( 0.0 %) Liquidation expenses (2) ( 8.0 %)/( 8.0 %) Other real estate owned and repossessed assets $ 1,595 Appraisal of collateral (1), (3) December 31, 2021 Collateral dependent loans $ 13,558 Appraisal of collateral (1) Appraisal adjustments (2) ( 0.0 %)/( 0.0 %) Liquidation expenses (2) ( 8.0 %)/( 8.0 %) (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 expense are presented as a percent of the appraisal. (3) Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management, which are not identifiable. The estimated fair values of Wesbanco’s financial instruments are summarized below: Fair Value Measurements at September 30, 2022 Carrying Fair Value Quoted Prices in Significant Significant (unaudited, in thousands) Amount Estimate (level 1) (level 2) (level 3) Financial Assets Cash and due from banks $ 378,556 $ 378,556 $ 378,556 $ — $ — Equity securities 11,964 11,964 11,964 — — Available-for-sale debt securities 2,645,748 2,645,748 — 2,644,573 1,175 Net held-to-maturity debt securities 1,262,242 1,065,833 — 1,065,490 343 Net loans 10,163,078 9,026,768 — — 9,026,768 Loans held for sale 12,887 12,887 — 12,887 — Other assets - interest rate swaps 76,381 76,381 — 76,381 — Accrued interest receivable 63,375 63,375 63,375 — — Financial Liabilities Deposits 13,444,366 13,460,664 12,452,854 1,007,810 — Federal Home Loan Bank borrowings 56,998 56,574 — 56,574 — Other borrowings 127,983 114,067 114,067 — — Subordinated debt and junior subordinated debt 281,179 259,546 — 259,546 — Other liabilities - interest rate swaps 74,514 74,514 — 74,514 — Accrued interest payable 4,358 4,358 4,358 — — Fair Value Measurements at December 31, 2021 Carrying Fair Value Quoted Prices in Significant Significant (in thousands) Amount Estimate (level 1) (level 2) (level 3) Financial Assets Cash and due from banks $ 1,251,358 $ 1,251,358 $ 1,251,358 $ — $ — Equity securities 13,466 13,466 13,466 — — Available-for-sale debt securities 3,013,462 3,013,462 — 3,011,969 1,493 Net held-to-maturity debt securities 1,004,555 1,028,452 — 1,028,047 405 Net loans 9,611,856 9,385,917 — — 9,385,917 Loans held for sale 25,277 25,277 — 25,277 — Other assets - interest rate swaps 24,867 24,867 — 24,867 — Accrued interest receivable 60,844 60,844 60,844 — — Financial Liabilities Deposits 13,565,863 13,575,477 12,273,211 1,302,266 — Federal Home Loan Bank borrowings 183,920 185,684 — 185,684 — Other borrowings 141,893 134,288 134,288 — — Subordinated debt and junior subordinated debt 132,860 109,186 — 109,186 — Other liabilities - interest rate swaps 26,388 26,388 — 26,388 — Accrued interest payable 1,901 1,901 1,901 — — The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on Wesbanco’s consolidated balance sheets: Cash and due from banks: The carrying amount for cash and due from banks is a reasonable estimate of fair value. Held-to-maturity debt securities: Fair values for debt securities held-to-maturity are determined in the same manner as investment securities, which are described above. Net loans: Fair values for loans are estimated using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans with similar terms, the credit risk associated with the loan and other market factors, including liquidity. Wesbanco believes the discount rates are consistent with transactions occurring in the marketplace for both performing and distressed loan types. The carrying value is net of the allowance for loan losses and other associated premiums and discounts. Due to the significant judgment involved in evaluating credit quality, loans are classified within level 3 of the fair value hierarchy. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value . Deposits: The carrying amount is considered a reasonable estimate of fair value for demand, savings and other variable rate deposit accounts. The fair value of fixed maturity certificates of deposit is estimated by a discounted cash flow method using rates currently offered for deposits of similar remaining maturities. Federal Home Loan Bank borrowings: The fair value of FHLB borrowings is based on rates currently available to Wesbanco for borrowings with similar terms and remaining maturities. Other borrowings: The carrying amount of federal funds purchased and overnight sweep accounts generally approximate fair value. Other repurchase agreements are based on quoted market prices if available. If market prices are not available, for certain fixed and adjustable rate repurchase agreements, then quoted market prices of similar instruments are used. Subordinated debt and junior subordinated debt: The fair value of subordinated debt is determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. These securities are classified within level 2 in the fair value hierarchy. Due to the pooled nature of junior subordinated debt owed to unconsolidated subsidiary trusts, which are not actively traded, estimated fair value is determined by using comparable corporate bond indices and swap rates from the financial services sector and factoring in the applicable credit spreads and optional early redemption provisions. Accrued interest payable: The carrying amount of accrued interest payable approximates its fair value. Off-balance sheet financial instruments: Off-balance sheet financial instruments consist of commitments to extend credit, including letters of credit. Fair values for commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counterparties. The estimated fair value of the commitments to extend credit and letters of credit are insignificant and therefore are not presented in the above tables. |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2022 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | NOTE 8. REVENUE RECOGNITION Interest income, net securities gains (losses) and bank-owned life insurance are not in scope of ASC 606, Revenue from Contracts with Customers . For the revenue streams in scope of ASC 606 - trust fees, service charges on deposits, net securities brokerage revenue, debit card sponsorship income, payment processing fees, electronic banking fees, mortgage banking income and net gain or loss on sale of other real estate owned and other assets – there are no significant judgements related to the amount and timing of revenue recognition. Trust fees: Fees are earned over a period of time between monthly and annually, per the related fee schedule. The fees are earned ratably over the period for investment, safekeeping and other services performed by Wesbanco. The fees are accrued when earned based on the daily asset value on the last day of the quarter. In most cases, the fees are directly debited from the customer account. WesMark fees consist of investment advisory fees and shareholder service fees and are paid to Wesbanco by the WesMark mutual funds on a monthly basis for Wesbanco’s involvement with the management of the funds. Service charges on deposits: There are monthly service charges for both commercial and personal banking customers, which are earned over the month per the related fee schedule based on the customers’ deposits. There are also transaction-based fees, which are earned based on specific transactions or customer activity within the customers’ deposit accounts. These are earned at the time the transaction or customer activity occurs. The fees are debited from the customer account. Net securities brokerage revenue: Commission income is earned based on customer transactions and management of investments. The commission income from customers’ transactions is recognized when the transaction is complete and approved. Annuity commissions are earned based upon the carrier’s commission rate for the annuity product chosen by the investing customer. The commission income from the management of investments over time is earned continuously over a quarterly period. Debit card sponsorship income: The activity in this revenue stream concluded on March 31, 2021, with the sale of this program to another bank. Debit card sponsorship income was earned from Wesbanco’s sponsorship of its customers, which included independent service organizations, processors and other banks into different debit networks. For providing this service, the customers paid the bank a per transaction fee for each transaction processed through the network. In some cases, customers were also charged annual sponsorship fees and non-compliance fees as applicable. The fees were earned at the time the transaction or customer activity occurred. The fees were either directly debited from the customers' deposit accounts or were billed to the customer. Payment processing fees: Payment processing fees are earned from the bill payment and electronic funds transfer services provided under the name FirstNet. The fees are derived from both the individual consumer banking transactions and from businesses or service providers through monthly billing for total transactions occurring. These fees are earned at the time the transaction or customer activity occurs. The fees are debited from the customers’ deposit accounts or charged directly to the business or service provider. Electronic banking fees: Interchange and ATM fees are earned based on customer and ATM transactions. Revenue is recognized when the transaction is settled. Mortgage banking income: Income is earned when Wesbanco-originated loans are sold to an investor on the secondary market. The investor bids on the loans. If the price is accepted, Wesbanco delivers the loan documents to the investor. Once received and approved by the investor, revenue is recognized and the loans are derecognized from the Consolidated Balance Sheet. Prior to the loans being sold, they are classified as loans held for sale. Additionally, the changes in the fair value of the loans held for sale, loan commitments and related derivatives are included in mortgage banking income and are slightly offset by any deferred direct origination costs, such as mortgage loan officer commissions. Net gain or loss on sale of other real estate owned and other assets: Net gain or loss on other real estate owned is recorded when the property is sold to a third party and the Bank collects substantially all of the consideration to which it is entitled in exchange for the transfer of the property. Net gain or loss on other assets can include, among other things, the sale of fixed assets, the change in fair value of the underlying investments funded by Wesbanco’s Community Development Corporation (“Wesbanco CDC”) and residual income earned from the sale of Wesbanco’s debit card sponsorship program. Gains or losses are recognized upon receipt of consideration and subsequent transfer of the property for fixed asset sales. The change in fair value of Wesbanco CDC investments occurs upon the change in the underlying investments as these are accounted for utilizing the equity method, and as such, are not within the scope of ASC 606. Residual income from the sale of the debit card sponsorship program is recognized over time per the signed agreement between Wesbanco and the buyer. The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and nine months ended September 30, 2022 and 2021, respectively: Point of Revenue For the Three Months For the Nine Months (unaudited, in thousands) Recognition 2022 2021 2022 2021 Revenue Streams Trust fees Trust account fees Over time $ 4,456 $ 4,768 $ 14,413 $ 14,792 WesMark fees Over time 2,061 2,521 6,466 7,277 Total trust fees 6,517 7,289 20,879 22,069 Service charges on deposits Commercial banking fees Over time 606 464 1,776 1,629 Personal service charges At a point in time and over time 6,336 5,586 17,744 14,191 Total service charges on deposits 6,942 6,050 19,520 15,820 Net securities brokerage revenue Annuity commissions At a point in time 1,932 1,169 5,193 3,237 Equity and debt security trades At a point in time 29 73 94 206 Managed money Over time 290 311 944 885 Trail commissions Over time 240 412 738 990 Total net securities brokerage revenue 2,491 1,965 6,969 5,318 Debit card sponsorship income (1) At a point in time and over time — — — 646 Payment processing fees (1) At a point in time and over time 818 773 2,436 2,234 Electronic banking fees At a point in time 4,808 5,427 15,307 14,853 Mortgage banking income At a point in time 1,257 4,563 4,508 16,656 Net gain (loss) on other real estate owned and other assets (2) At a point in time and over time 2,040 785 ( 68 ) 4,974 (1) Debit card sponsorship income and payment processing fees are included in other non-interest income. (2) The portion of this line item relating to the change in the fair value of the underlying investments funded by Wesbanco CDC is not within the scope of ASC 606, and totaled gains of $ 1.5 million and $ 0.4 million for the three months ended September 30, 2022 and 2021 , respectively, and (losses) gains of ($ 1.0 ) million and $ 4.2 million for the nine months ended September 30, 2022 and 2021 , respectively. |
Comprehensive Income_(Loss)
Comprehensive Income/(Loss) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Comprehensive Income/(Loss) | NOTE 9. COMPREHENSIVE INCOME/(LOSS) The activity in accumulated other comprehensive income/(loss) for the nine months ended September 30, 2022 and 2021 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (unaudited, in thousands) Defined Unrealized Total Balance at December 31, 2021 $ ( 398 ) $ ( 4,722 ) $ ( 5,120 ) Other comprehensive loss before reclassifications — ( 261,693 ) ( 261,693 ) Amounts reclassified from accumulated other comprehensive loss 165 8 173 Period change 165 ( 261,685 ) ( 261,520 ) Balance at September 30, 2022 $ ( 233 ) $ ( 266,407 ) $ ( 266,640 ) Balance at December 31, 2020 $ ( 15,502 ) $ 46,861 $ 31,359 Other comprehensive loss before reclassifications — ( 28,292 ) ( 28,292 ) Amounts reclassified from accumulated other comprehensive loss 1,431 ( 35 ) 1,396 Period change 1,431 ( 28,327 ) ( 26,896 ) Balance at September 30, 2021 $ ( 14,071 ) $ 18,534 $ 4,463 (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24 % in both periods presented. The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2022 and 2021: Details about Accumulated Other Comprehensive For the Three Months For the Nine Months Affected Line Item in the Statement (unaudited, in thousands) 2022 2021 2022 2021 Debt securities available-for-sale (1) : Net securities gains reclassified into earnings $ — $ ( 12 ) $ 10 $ ( 46 ) Net securities gains (Non-interest income) Related income tax expense ⁽²⁾ — 3 ( 2 ) 11 Provision for income taxes Net effect on accumulated other comprehensive — ( 9 ) 8 ( 35 ) Defined benefit plans (3) : Amortization of net loss and prior service costs 73 635 218 1,886 Employee benefits (Non-interest expense) Related income tax benefit ⁽²⁾ ( 18 ) ( 153 ) ( 53 ) ( 455 ) Provision for income taxes Net effect on accumulated other comprehensive 55 482 165 1,431 Total reclassifications for the period $ 55 $ 473 $ 173 $ 1,396 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 3, “Securities.” (2) Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24 % in both periods presented. (3) Included in the computation of net periodic pension cost. See Note 6, “Benefit Plans” for additional detail. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | NOTE 10. COMMITMENTS AND CONTINGENT LIABILITIES Commitments — In the normal course of business, Wesbanco offers off-balance sheet credit arrangements to enable its customers to meet their financing objectives. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. Wesbanco’s exposure to credit losses in the event of non-performance by the other parties to the financial instruments for commitments to extend credit and standby letters of credit is limited to the contractual amount of those instruments. Wesbanco uses the same credit policies in making commitments and conditional obligations as for all other lending. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The allowance for credit losses associated with commitments was $ 8.9 million and $ 7.8 million at September 30, 2022 and December 31, 2021, respectively, and is included in other liabilities on the Consolidated Balance Sheets. Letters of credit are conditional commitments issued by banks to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including normal business activities, bond financing and similar transactions. Letters of credit are considered guarantees. The liability associated with letters of credit was $ 0.2 million as of September 30, 2022 and December 31, 2021, respectively. Contingent obligations to purchase loans funded by other entities include credit card guarantees, loans sold with recourse as well as obligations to the FHLB. Credit card guarantees are credit card balances not owned by Wesbanco, whereby the Bank guarantees the performance of the cardholder. The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: September 30, December 31, (unaudited, in thousands) 2022 2021 Lines of credit $ 3,548,242 $ 2,954,147 Loans approved but not closed 419,150 472,810 Overdraft limits 386,972 370,439 Letters of credit 30,011 29,017 Contingent obligations and other guarantees 32,472 68,235 Contingent Liabilities — Wesbanco is a party to various legal and administrative proceedings and claims. While any litigation contains an element of uncertainty, management does not believe that a material loss related to such proceedings or claims pending or known to be threatened is reasonably possible. |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 11. 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 $ 4.6 billion and $ 5.5 billion at September 30, 2022 and 2021, 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: Trust and Community Investment (unaudited, in thousands) Banking Services Consolidated For The Three Months Ended September 30, 2022 Interest and dividend income $ 134,117 $ — $ 134,117 Interest expense 9,616 — 9,616 Net interest income 124,501 — 124,501 Provision for credit losses ( 535 ) — ( 535 ) Net interest income after provision for credit losses 125,036 — 125,036 Non-interest income 25,739 6,517 32,256 Non-interest expense 88,144 3,797 91,941 Income before provision for income taxes 62,631 2,720 65,351 Provision for income taxes 11,747 571 12,318 Net income 50,884 2,149 53,033 Preferred stock dividends 2,531 — 2,531 Net income available to common shareholders $ 48,353 $ 2,149 $ 50,502 For The Three Months Ended September 30, 2021 Interest and dividend income $ 121,378 $ — $ 121,378 Interest expense 6,103 — 6,103 Net interest income 115,275 — 115,275 Provision for credit losses ( 1,730 ) — ( 1,730 ) Net interest income after provision for credit losses 117,005 — 117,005 Non-interest income 25,466 7,289 32,755 Non-interest expense 90,599 4,102 94,701 Income before provision for income taxes 51,872 3,187 55,059 Provision for income taxes 9,982 669 10,651 Net income 41,890 2,518 44,408 Preferred stock dividends 2,531 — 2,531 Net income available to common shareholders $ 39,359 $ 2,518 $ 41,877 For the Nine Months Ended September 30, 2022 Interest and dividend income $ 364,738 $ — $ 364,738 Interest expense 20,299 — 20,299 Net interest income 344,439 — 344,439 Provision for credit losses ( 4,785 ) — ( 4,785 ) Net interest income after provision for credit losses 349,224 — 349,224 Non-interest income 68,743 20,879 89,622 Non-interest expense 254,484 12,027 266,511 Income before provision for income taxes 163,483 8,852 172,335 Provision for income taxes 30,573 1,859 32,432 Net income 132,910 6,993 139,903 Preferred stock dividends 7,594 — 7,594 Net income available to common shareholders $ 125,316 $ 6,993 $ 132,309 For the Nine Months Ended September 30, 2021 Interest and dividend income $ 369,760 $ — $ 369,760 Interest expense 22,153 — 22,153 Net interest income 347,607 — 347,607 Provision for credit losses ( 50,714 ) — ( 50,714 ) Net interest income after provision for credit losses 398,321 — 398,321 Non-interest income 80,007 22,069 102,076 Non-interest expense 252,428 12,412 264,840 Income before provision for income taxes 225,900 9,657 235,557 Provision for income taxes 45,417 2,028 47,445 Net income 180,483 7,629 188,112 Preferred stock dividends 7,594 — 7,594 Net income available to common shareholders $ 172,889 $ 7,629 $ 180,518 Total non-fiduciary assets of the trust and investment services segment were $ 3.5 million (including $ 1.2 million of trust customer intangibles) and $ 3.9 million (including $ 1.5 million of trust customer intangibles) at September 30, 2022 and 2021 , respectively. All other assets, including goodwill and the remainder of other intangible assets, were allocated to the Community Banking segment. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation — The accompanying unaudited interim financial statements of Wesbanco, Inc. and its consolidated subsidiaries (“Wesbanco”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2021. Wesbanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly Wesbanco’s financial position and results of operations for each of the interim periods presented. Certain prior period amounts have been reclassified to conform to the current period presentation. Such reclassifications had no impact on Wesbanco’s net income and shareholders’ equity. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year. |
Recent accounting pronouncements | Recent accounting pronouncements— The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) as noted below. ASU 2022-04 Liabilities – Supplier Finance Programs (Sub-topic 405-50) In September 2022, the FASB issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50).” The amendments in this ASU require that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. To achieve that objective, the buyer should disclose qualitative and quantitative information about its supplier finance programs. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Wesbanco is currently assessing the impact of ASU 2022-04 on its Consolidated Financial Statements. ASU 2022-03 Fair Value Measurement (Topic 820) In June 2022, the FASB issued ASU 2022-03, "Fair Value Measurement (Topic 820).” The amendments in this ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security, and therefore, is not considered in measuring fair value. Furthermore, the amendments to this ASU clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The update to this ASU requires the following disclosures for equity securities: (1) The fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet; (2) The nature and remaining duration of the restriction(s) and; (3) The circumstances that could cause a lapse in the restriction(s). The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Wesbanco is currently assessing the impact of ASU 2022-03 on its Consolidated Financial Statements. ASU 2022-02 Financial Instruments - Credit Losses (Topic 326) In March 2022, the FASB issued ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326)". The amendments in this ASU eliminate the accounting guidance for Troubled Debt Restructurings ("TDRs") by creditors in Subtopic 310-40, "Receivables - Troubled Debt Restructurings by Creditors," while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. In addition, for public business entities, the amendments in this Update require that an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, "Financial Instruments - Credit Losses - Measured at Amortized Cost." The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Wesbanco is currently assessing the impact of ASU 2022-02 on its Consolidated Financial Statements. ASU 2022-01 Derivatives and Hedging (Topic 815) In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815)". The amendments in this ASU address several topics within ASU 2017-12, which was issued in August 2017 to improve the hedge accounting model. ASU 2022-01 expands the current last-of-layer method to allow multiple hedged layers of a single closed portfolio and renames the last-of-layer method as the portfolio layer method. Among other things, the ASU expands the scope of the portfolio layer method to include nonprepayable financial assets, provides additional guidance on the accounting for and disclosure of hedge basis adjustments that are applicable to the portfolio layer method whether a single hedged layer or multiple hedge layers are designated and specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The adoption of this pronouncement is not expected to have a material impact on Wesbanco's Consolidated Financial Statements. ASU 2021-08 Business Combinations (Topic 805) In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805)." The amendments in this Update require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, "Revenue Recognition." The amendments also apply to contract assets and contract liabilities from other contracts to which the provisions of Topic 606 apply, such as contract liabilities from the sale of nonfinancial assets within the scope of Subtopic 610-20, "Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets." For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The adoption of this pronouncement is not expected to have a material impact on Wesbanco's Consolidated Financial Statements. ASU 2020-04 and ASU 2021-01 Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848)”. This ASU provided temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the transition away from the London Interbank Offered Rate ("LIBOR") or other reference rate expected to be discontinued on financial reporting. The ASU also provides optional expedients for contract modifications that replace a reference rate affected by reference rate reform. The guidance is effective as of March 12, 2020 through December 31, 2022, and can be adopted at any time during this period. In January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform (Topic 848): Scope”. This ASU refines the scope of Topic 848 and addresses questions about whether Topic 848 can be applied to derivative instruments that do not reference a rate that is expected to be discontinued, but that use an interest rate for margining, discounting or contract price alignment that is expected to be modified as a result of reference rate reform. ASU 2021-01 is effective upon issuance through December 31, 2024, and can be adopted at any time during this period. Wesbanco has not offered LIBOR for any new contracts after December 31, 2021. Wesbanco has chosen the One Month Term Secured Overnight Financing Rate ("1M Term SOFR") as its alternative replacement rate for LIBOR on both back-to-back swaps and on one-month variable loans. A transition plan was implemented in 2021 to identify and modify Wesbanco's loans and other financial instruments with attributes that are either directly or indirectly influenced by LIBOR, and Wesbanco continues to assess the impact of adopting the new guidance on the consolidated financial statements on an ongoing basis, with no material impacts expected at this time. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Common Share | Earnings per common share are calculated as follows: For the Three Months For the Nine Months (unaudited, in thousands, except shares and per share amounts) 2022 2021 2022 2021 Numerator for both basic and diluted earnings per common share: Net income available to common shareholders $ 50,502 $ 41,877 $ 132,309 $ 180,518 Denominator: Total average basic common shares outstanding 59,549,244 64,931,764 60,336,637 66,354,750 Effect of dilutive stock options and other stock compensation 148,432 134,084 152,611 155,607 Total diluted average common shares outstanding 59,697,676 65,065,848 60,489,248 66,510,357 Earnings per common share - basic $ 0.85 $ 0.64 $ 2.19 $ 2.72 Earnings per common share - diluted $ 0.85 $ 0.64 $ 2.19 $ 2.71 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities | The following table presents the fair value and amortized cost of available-for-sale and held-to-maturity debt securities: September 30, 2022 December 31, 2021 (unaudited, in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale debt securities U.S. Government sponsored entities and agencies $ 263,336 $ 1 $ ( 34,491 ) $ 228,846 $ 236,096 $ 3,922 $ ( 3,040 ) $ 236,978 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 2,210,727 20 ( 301,086 ) 1,909,661 2,301,170 16,489 ( 32,446 ) 2,285,213 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 407,299 3 ( 9,004 ) 398,298 364,486 4,252 ( 1,245 ) 367,493 Obligations of states and political subdivisions 99,643 69 ( 5,886 ) 93,826 101,003 5,372 ( 35 ) 106,340 Corporate debt securities 15,448 1 ( 332 ) 15,117 16,940 507 ( 9 ) 17,438 Total available-for-sale debt securities $ 2,996,453 $ 94 $ ( 350,799 ) $ 2,645,748 $ 3,019,695 $ 30,542 $ ( 36,775 ) $ 3,013,462 Held-to-maturity debt securities U.S. Government sponsored entities and agencies $ 4,871 $ — $ ( 474 ) $ 4,397 $ 5,944 $ 72 $ ( 8 ) $ 6,008 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 47,973 — ( 4,213 ) 43,760 58,147 1,409 ( 16 ) 59,540 Obligations of states and political subdivisions 1,189,219 204 ( 191,468 ) 997,955 907,649 23,854 ( 3,500 ) 928,003 Corporate debt securities 20,404 — ( 683 ) 19,721 33,083 1,818 — 34,901 Total held-to-maturity debt securities (1) $ 1,262,467 $ 204 $ ( 196,838 ) $ 1,065,833 $ 1,004,823 $ 27,153 $ ( 3,524 ) $ 1,028,452 Total debt securities $ 4,258,920 $ 298 $ ( 547,637 ) $ 3,711,581 $ 4,024,518 $ 57,695 $ ( 40,299 ) $ 4,041,914 (1) Total held-to-maturity debt securities are presented on the balance sheet net of their allowance for credit losses totaling $ 0.2 million at September 30, 2022 and $ 0.3 million at December 31, 2021 . |
Schedule of Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity | The following table presents the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by contractual maturity date at September 30, 2022. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay debt obligations with or without prepayment penalties. Mortgage-backed securities and collateralized mortgage obligations are classified in the table below based on their contractual maturity date; however, regular principal payments and prepayments of principal are received on a monthly basis. (unaudited, in thousands) Amortized Cost Fair Value Available-for-sale debt securities Within one year $ 31,190 $ 30,874 After 1 year through 5 years 153,759 149,576 After 5 years through 10 years 474,806 452,056 After 10 years 2,336,698 2,013,242 Total available-for-sale debt securities $ 2,996,453 $ 2,645,748 Held-to-maturity debt securities Within one year $ 26,906 $ 26,820 After 1 year through 5 years 99,676 97,773 After 5 years through 10 years 350,392 321,926 After 10 years 785,493 619,314 Total held-to-maturity debt securities $ 1,262,467 $ 1,065,833 Total debt securities $ 4,258,920 $ 3,711,581 |
Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities | The following table presents the gross realized gains and losses on sales and calls of available-for-sale and held-to-maturity debt securities, as well as gains and losses on equity securities from both sales and market adjustments, for the three and nine months ended September 30, 2022 and 2021, respectively. All gains and losses presented in the table below are included in the net securities gains (losses) line item of the income statement. For those equity securities relating to the key officer and director deferred compensation plan, the corresponding change in the obligation to the participant is recognized in employee benefits expense. For the Three Months For the Nine Months (unaudited, in thousands) 2022 2021 2022 2021 Debt securities: Gross realized gains $ 30 $ 22 $ 168 $ 222 Gross realized losses ( 1 ) ( 2 ) ( 12 ) ( 41 ) Net gains on debt securities 29 20 156 181 Equity securities: Net unrealized gains (losses) recognized on securities still held 627 ( 35 ) ( 1,332 ) 559 Net securities gains (losses) $ 656 $ ( 15 ) $ ( 1,176 ) $ 740 |
Schedule of Allowance for Credit Losses on Held-to-maturity Securities | The following table provides a roll-forward of the allowance for credit losses on held-to-maturity securities for the nine months ended September 30, 2022 and 2021: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2022 and 2021 Residential mortgage -backed securities and collateralized mortgage obligations Obligations of U.S. Government of government state and Corporate sponsored sponsored entities political debt (unaudited, in thousands) entities and agencies and agencies subdivisions Securities Total Balance at December 31, 2021 $ — $ — $ 174 $ 94 $ 268 Current period provision — — ( 2 ) ( 41 ) ( 43 ) Write-offs — — — — — Recoveries — — — — — Balance at September 30, 2022 $ — $ — $ 172 $ 53 $ 225 . Balance at December 31, 2020 $ — $ — $ 130 $ 196 $ 326 Current period provision — — 35 ( 104 ) ( 69 ) Write-offs — — — — — Recoveries — — — — — Balance at September 30, 2021 $ — $ — $ 165 $ 92 $ 257 |
Schedule of Unrealized Losses on Investment Securities | The following tables provide information on unrealized losses on available-for-sale debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more, for which an allowance for credit losses has not been recorded, as of September 30, 2022 and December 31, 2021, respectively: September 30, 2022 Less than 12 months 12 months or more Total (unaudited, dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 110,981 $ ( 9,122 ) 36 $ 117,687 $ ( 25,369 ) 12 $ 228,668 $ ( 34,491 ) 48 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 802,738 ( 79,719 ) 374 1,104,411 ( 221,367 ) 128 1,907,149 ( 301,086 ) 502 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 254,304 ( 5,485 ) 50 143,797 ( 3,519 ) 26 398,101 ( 9,004 ) 76 Obligations of state and political subdivisions 79,251 ( 4,725 ) 149 3,171 ( 1,161 ) 2 82,422 ( 5,886 ) 151 Corporate debt and other securities 14,129 ( 319 ) 6 487 ( 13 ) 1 14,616 ( 332 ) 7 Total $ 1,261,403 $ ( 99,370 ) 615 $ 1,369,553 $ ( 251,429 ) 169 $ 2,630,956 $ ( 350,799 ) 784 December 31, 2021 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 114,486 $ ( 1,865 ) 12 $ 32,688 $ ( 1,175 ) 4 $ 147,174 $ ( 3,040 ) 16 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,568,138 ( 29,060 ) 143 141,681 ( 3,386 ) 23 1,709,819 ( 32,446 ) 166 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 131,970 ( 579 ) 25 78,356 ( 666 ) 8 210,326 ( 1,245 ) 33 Obligations of states and political subdivisions 4,307 ( 35 ) 2 — — — 4,307 ( 35 ) 2 Corporate debt securities 6,990 ( 9 ) 5 — — — 6,990 ( 9 ) 5 Total $ 1,825,891 $ ( 31,548 ) 187 $ 252,725 $ ( 5,227 ) 35 $ 2,078,616 $ ( 36,775 ) 222 |
Loans and the Allowance for C_2
Loans and the Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Schedule of Recorded Investment in Loans by Category | The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. Net deferred loan costs were $ 9.9 million and $ 3.3 million at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022 and December 31, 2021 , respectively, the balance also included $ 0.5 million and $ 6.1 million of net deferred fee income from SBA Payroll Protection Program (“PPP”) loans. The un-accreted discount on purchased loans from acquisitions was $ 19.7 million at September 30, 2022 and $ 25.9 million at December 31, 2021. September 30, December 31, (unaudited, in thousands) 2022 2021 Commercial real estate: Land and construction $ 955,644 $ 833,880 Improved property 4,875,740 4,705,088 Total commercial real estate 5,831,384 5,538,968 Commercial and industrial 1,503,848 1,427,645 Commercial and industrial - PPP 13,008 162,675 Residential real estate 2,010,344 1,721,378 Home equity 609,765 605,682 Consumer 309,313 277,130 Total portfolio loans 10,277,662 9,733,478 Loans held for sale 12,887 25,277 Total loans $ 10,290,549 $ 9,758,755 |
Summary of Changes in Allowance for Credit Losses | The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2022 and 2021 (unaudited, in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at December 31, 2021 Allowance for credit $ 7,310 $ 65,355 $ 26,875 $ 15,401 $ 724 $ 3,737 $ 2,220 $ 121,622 Allowance for credit 4,180 201 1,497 1,576 49 272 — 7,775 Total beginning allowance for credit 11,490 65,556 28,372 16,977 773 4,009 2,220 129,397 Provision for credit losses: Provision for loan losses 1,369 ( 12,082 ) 2,160 1,133 37 1,216 260 ( 5,907 ) Provision for loan commitments 1,618 ( 201 ) ( 1,214 ) 788 7 165 — 1,163 Total provision for credit 2,987 ( 12,283 ) 946 1,921 44 1,381 260 ( 4,744 ) Charge-offs ( 73 ) ( 642 ) ( 983 ) ( 282 ) ( 266 ) ( 2,511 ) ( 1,215 ) ( 5,972 ) Recoveries 25 899 871 483 293 1,992 278 4,841 Net (charge-offs) recoveries ( 48 ) 257 ( 112 ) 201 27 ( 519 ) ( 937 ) ( 1,131 ) Balance at September 30, 2022 Allowance for credit 8,631 53,530 28,923 16,735 788 4,434 1,543 114,584 Allowance for credit 5,798 — 283 2,364 56 437 — 8,938 Total ending allowance for credit $ 14,429 $ 53,530 $ 29,206 $ 19,099 $ 844 $ 4,871 $ 1,543 $ 123,522 Balance at December 31, 2020 Allowance for credit $ 10,841 $ 110,652 $ 37,850 $ 17,851 $ 1,487 $ 6,507 $ 639 $ 185,827 Allowance for credit 6,508 712 1,275 955 45 19 — 9,514 Total beginning allowance for credit 17,349 111,364 39,125 18,806 1,532 6,526 639 195,341 Provision for credit losses: Provision for loan losses ( 3,665 ) ( 29,171 ) ( 10,669 ) ( 3,481 ) ( 877 ) ( 2,268 ) 1,709 ( 48,422 ) Provision for loan commitments ( 2,829 ) ( 394 ) 451 254 7 287 — ( 2,224 ) Total provision for credit ( 6,494 ) ( 29,565 ) ( 10,218 ) ( 3,227 ) ( 870 ) ( 1,981 ) 1,709 ( 50,646 ) Charge-offs ( 22 ) ( 933 ) ( 1,717 ) ( 842 ) ( 382 ) ( 2,210 ) ( 932 ) ( 7,038 ) Recoveries 110 1,053 1,737 885 471 1,718 264 6,238 Net (charge-offs) recoveries 88 120 20 43 89 ( 492 ) ( 668 ) ( 800 ) Balance at September 30, 2021 Allowance for credit 7,264 81,601 27,201 14,413 699 3,747 1,680 136,605 Allowance for credit 3,679 318 1,726 1,209 52 306 — 7,290 Total ending allowance for credit $ 10,943 $ 81,919 $ 28,927 $ 15,622 $ 751 $ 4,053 $ 1,680 $ 143,895 |
Allowance for Credit Losses and Recorded Investments in Loans | The following tables present the allowance for credit losses and recorded investments in loans by category, as of each period-end: Allowance for Credit Losses and Recorded Investment in Loans (unaudited, in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total September 30, 2022 Allowance for credit losses: Loans individually-evaluated $ 297 $ 3,940 $ 184 $ — $ — $ — $ — $ 4,421 Loans collectively-evaluated 8,334 49,590 28,739 16,735 788 4,434 1,543 110,163 Loan commitments 5,798 — 283 2,364 56 437 — 8,938 Total allowance for credit $ 14,429 $ 53,530 $ 29,206 $ 19,099 $ 844 $ 4,871 $ 1,543 $ 123,522 Portfolio loans: Individually-evaluated for credit $ 1,115 $ 30,732 $ 437 $ — $ — $ — $ — $ 32,284 Collectively-evaluated for credit 954,529 4,845,008 1,516,419 2,010,344 609,765 309,313 — 10,245,378 Total portfolio loans $ 955,644 $ 4,875,740 $ 1,516,856 $ 2,010,344 $ 609,765 $ 309,313 $ — $ 10,277,662 December 31, 2021 Allowance for credit losses: Loans individually-evaluated $ 381 $ 8,560 $ 333 $ — $ — $ — $ — $ 9,274 Loans collectively-evaluated 6,929 56,795 26,542 15,401 724 3,737 2,220 112,348 Loan commitments 4,180 201 1,497 1,576 49 272 — 7,775 Total allowance for credit $ 11,490 $ 65,556 $ 28,372 $ 16,977 $ 773 $ 4,009 $ 2,220 $ 129,397 Portfolio loans: Individually-evaluated for credit $ 1,248 $ 66,635 $ 576 $ — $ — $ — $ — $ 68,459 Collectively-evaluated for credit 832,632 4,638,453 1,589,744 1,721,378 605,682 277,130 — 9,665,019 Total portfolio loans $ 833,880 $ 4,705,088 $ 1,590,320 $ 1,721,378 $ 605,682 $ 277,130 $ — $ 9,733,478 |
Summary of Commercial Loans by Risk Grade | The following tables summarize commercial loans by their assigned risk grade: Commercial Loans by Internally Assigned Risk Grade (unaudited, in thousands) Commercial Commercial Commercial Total As of September 30, 2022 Pass $ 923,333 $ 4,698,327 $ 1,476,543 $ 7,098,203 Criticized - compromised 25,180 113,584 24,412 163,176 Classified - substandard 7,131 63,829 15,901 86,861 Classified - doubtful — — — — Total $ 955,644 $ 4,875,740 $ 1,516,856 $ 7,348,240 As of December 31, 2021 Pass $ 823,316 $ 4,400,872 $ 1,540,569 $ 6,764,757 Criticized - compromised 7,955 222,830 17,733 248,518 Classified - substandard 2,609 81,386 32,018 116,013 Classified - doubtful — — — — Total $ 833,880 $ 4,705,088 $ 1,590,320 $ 7,129,288 |
Summary of Age Analysis of Loan Categories | The following tables summarize the age analysis of all categories of loans: Age Analysis of Loans (unaudited, in thousands) Current 30-59 60-89 90 Days Total Total 90 Days Due and As of September 30, 2022 Commercial real estate: Land and construction $ 955,075 $ 134 $ 140 $ 295 $ 569 $ 955,644 $ 295 Improved property 4,852,702 2,473 2,143 18,422 23,038 4,875,740 13,913 Total commercial real estate 5,807,777 2,607 2,283 18,717 23,607 5,831,384 14,208 Commercial and industrial 1,500,637 4,717 3,486 8,016 16,219 1,516,856 6,082 Residential real estate 1,998,214 1,079 2,758 8,293 12,130 2,010,344 2,456 Home equity 603,115 2,571 782 3,297 6,650 609,765 1,006 Consumer 305,452 2,288 895 678 3,861 309,313 559 Total portfolio loans 10,215,195 13,262 10,204 39,001 62,467 10,277,662 24,311 Loans held for sale 12,887 — — — — 12,887 — Total loans $ 10,228,082 $ 13,262 $ 10,204 $ 39,001 $ 62,467 $ 10,290,549 $ 24,311 Nonperforming loans included above are as follows: Non-accrual loans $ 12,189 $ 721 $ 882 $ 14,392 $ 15,995 $ 28,184 TDRs accruing interest 4,258 27 - 298 325 4,583 Total nonperforming loans $ 16,447 $ 748 $ 882 $ 14,690 $ 16,320 $ 32,767 As of December 31, 2021 Commercial real estate: Land and construction $ 833,755 $ — $ — $ 125 $ 125 $ 833,880 $ 51 Improved property 4,681,028 6,377 7,728 9,955 24,060 4,705,088 3,042 Total commercial real estate 5,514,783 6,377 7,728 10,080 24,185 5,538,968 3,093 Commercial and industrial 1,583,347 2,275 1,213 3,485 6,973 1,590,320 559 Residential real estate 1,702,587 2,331 3,254 13,206 18,791 1,721,378 2,840 Home equity 599,189 2,240 602 3,651 6,493 605,682 685 Consumer 273,577 1,532 1,208 813 3,553 277,130 627 Total portfolio loans 9,673,483 14,755 14,005 31,235 59,995 9,733,478 7,804 Loans held for sale 25,277 — — — — 25,277 — Total loans $ 9,698,760 $ 14,755 $ 14,005 $ 31,235 $ 59,995 $ 9,758,755 $ 7,804 Nonperforming loans included above are as follows: Non-accrual loans $ 11,174 $ 914 $ 564 $ 23,090 $ 24,568 $ 35,742 TDRs accruing interest 3,275 3 127 341 471 3,746 Total nonperforming loans $ 14,449 $ 917 $ 691 $ 23,431 $ 25,039 $ 39,488 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. |
Summary of Nonperforming Loans | The following tables summarize nonperforming loans: Nonperforming Loans September 30, 2022 December 31, 2021 Unpaid Unpaid Principal Recorded Related Principal Recorded Related (unaudited, in thousands) Balance (1) Investment Allowance Balance (1) Investment Allowance With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ — $ — $ 74 $ 73 $ — Improved property 8,424 6,767 — 9,846 8,089 — Commercial and industrial 4,489 3,562 — 6,528 5,256 — Residential real estate 22,264 17,125 — 25,492 20,065 — Home equity 6,486 4,928 — 6,985 5,440 — Consumer 698 385 — 869 565 — Total nonperforming loans without a specific allowance 42,361 32,767 — 49,794 39,488 — Total nonperforming loans with a specific allowance — — — — — — Total nonperforming loans $ 42,361 $ 32,767 $ — $ 49,794 $ 39,488 $ — (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off and fair market value adjustments on acquired nonperforming loans. Nonperforming Loans For the Three Months Ended For the Nine Months Ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Average Interest Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Recorded Income (unaudited, in thousands) Investment Recognized Investment Recognized Investment Recognized Investment Recognized With no related specific allowance recorded: Commercial real estate: Land and construction $ 27 $ ( 2 ) $ 110 $ — $ 70 $ — $ 202 $ — Improved property 7,086 57 6,271 6 7,505 71 6,987 23 Commercial and industrial 4,010 5 5,021 ( 2 ) 4,514 8 3,783 1 Residential real estate 17,467 24 21,549 ( 15 ) 18,327 96 21,198 125 Home equity 5,046 14 5,544 — 5,279 20 5,591 9 Consumer 396 1 411 1 468 3 384 2 Total nonperforming loans without a specific allowance 34,030 99 38,906 ( 10 ) 36,163 198 38,145 160 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — — — Improved property — — 2,084 — — — 2,087 — Total nonperforming loans with a specific allowance — — 2,084 — — — 2,087 — Total nonperforming loans $ 34,030 $ 99 $ 40,990 $ ( 10 ) $ 36,163 $ 198 $ 40,232 $ 160 |
Recorded Investment in Non-Accrual Loans and TDRs | The following tables present the recorded investment in non-accrual loans and TDRs: Non-accrual Loans (1) September 30, December 31, (unaudited, in thousands) 2022 2021 Commercial real estate: Land and construction $ — $ 73 Improved property 5,339 7,715 Total commercial real estate 5,339 7,788 Commercial and industrial 3,388 5,064 Residential real estate 14,470 17,190 Home equity 4,642 5,163 Consumer 345 537 Total $ 28,184 $ 35,742 (1) At September 30, 2022 , there was one borrower with a loan balance greater than $ 1.0 million, which totaled $ 1.1 million, as compared to three borrowers with a loan balance greater than $ 1.0 million totaling $ 4.1 million at December 31, 2021. Total non-accrual loans include loans that are also TDRs. Such loans are also set forth in the following table as non-accrual TDRs. TDRs September 30, 2022 December 31, 2021 (unaudited, in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ — $ — $ — $ — $ — Improved property 1,428 29 1,457 374 133 507 Total commercial real estate 1,428 29 1,457 374 133 507 Commercial and industrial 174 — 174 192 — 192 Residential real estate 2,655 1,503 4,158 2,875 1,156 4,031 Home equity 286 224 510 277 258 535 Consumer 40 — 40 28 — 28 Total $ 4,583 $ 1,756 $ 6,339 $ 3,746 $ 1,547 $ 5,293 |
Loans Identified as TDRs | The following table presents details related to loans identified as TDRs during the three and nine months ended September 30, 2022 and 2021, respectively: New TDRs (1) For the Three Months Ended September 30, 2022 September 30, 2021 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded (unaudited, dollars in thousands) Modifications Investment Investment Modifications Investment Investment Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved property 1 1,097 1,075 — — — Total commercial real estate 1 1,097 1,075 — — — Commercial and industrial — — — — — — Residential real estate — — — 1 102 101 Home equity — — — — — — Consumer — — — — — — Total 1 $ 1,097 $ 1,075 1 $ 102 $ 101 New TDRs (1) For the Nine Months Ended September 30, 2022 September 30, 2021 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded (unaudited, dollars in thousands) Modifications Investment Investment Modifications Investment Investment Commercial real estate: Land and construction 1 $ 84 $ — — $ — $ — Improved property 2 1,286 1,075 — — — Total commercial real estate 3 1,370 1,075 — — — Commercial and industrial — — — — — — Residential real estate — — — 1 103 101 Home equity — — — 1 57 55 Consumer — — — — — — Total 3 $ 1,370 $ 1,075 2 $ 160 $ 156 (1) Excludes loans that were either paid off or charged-off by period end. The pre-modification balance represents the balance outstanding at the beginning of the period. The post-modification balance represents the outstanding balance at period end. The following table summarizes TDRs which defaulted (defined as past due 90 days) during the nine months ended September 30, 2022 and 2021, respectively, that were restructured within the last twelve months prior to September 30, 2022 and 2021, respectively. Defaulted TDRs (1) For the Nine Months Ended September 30, 2022 September 30, 2021 Number of Recorded Number of Recorded (unaudited, dollars in thousands) Defaults Investment Defaults Investment Commercial real estate: Land and construction — $ — — $ — Improved property — — — — Total commercial real estate — — — — Commercial and industrial — — — — Residential real estate — — 1 234 Home equity — — — — Consumer — — — — Total — $ — 1 $ 234 (1) Excludes loans that were either charged-off or cured by period end. The recorded investment is as of September 30, 2022 and 2021 , respectively. |
Summary of Amortized Cost Basis Loan Balances by Year of Origination and Credit Quality Indicator | The following tables summarize amortized cost basis loan balances by year of origination and credit quality indicator: Loans As of September 30, 2022 Amortized Cost Basis by Origination Year (unaudited, in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: land and construction Risk rating: Pass $ 129,030 $ 155,816 $ 164,359 $ 182,096 $ 92,973 $ 54,518 $ 93,043 $ 51,498 $ 923,333 Criticized - compromised — 393 — — 24,448 339 — — 25,180 Classified - substandard — — 6,001 — — 1,130 — — 7,131 Classified - doubtful — — — — — — — — — Total $ 129,030 $ 156,209 $ 170,360 $ 182,096 $ 117,421 $ 55,987 $ 93,043 $ 51,498 $ 955,644 Commercial real estate: improved property Risk rating: Pass $ 799,090 $ 617,653 $ 619,263 $ 539,169 $ 359,321 $ 1,654,366 $ 82,767 $ 26,698 $ 4,698,327 Criticized - compromised 134 989 2,602 6,153 13,343 89,320 1,043 — 113,584 Classified - substandard — — 402 16,951 9,911 36,531 34 — 63,829 Classified - doubtful — — — — — — — — — Total $ 799,224 $ 618,642 $ 622,267 $ 562,273 $ 382,575 $ 1,780,217 $ 83,844 $ 26,698 $ 4,875,740 Commercial and industrial Risk rating: Pass $ 193,429 $ 203,882 $ 124,640 $ 79,989 $ 109,885 $ 260,849 $ 492,838 $ 11,031 $ 1,476,543 Criticized - compromised 297 728 298 8,695 199 2,359 7,592 4,244 24,412 Classified - substandard — 3,383 1,001 2,388 405 2,585 558 5,581 15,901 Classified - doubtful — — — — — — — — — Total $ 193,726 $ 207,993 $ 125,939 $ 91,072 $ 110,489 $ 265,793 $ 500,988 $ 20,856 $ 1,516,856 Residential real estate Loan delinquency: Current $ 393,074 $ 640,158 $ 238,285 $ 99,970 $ 61,470 $ 500,020 $ — $ 65,237 $ 1,998,214 30-59 days past due — — — — — 1,079 — — 1,079 60-89 days past due — 365 — 282 101 2,010 — — 2,758 90 days or more past due — — — 287 120 7,840 — 46 8,293 Total $ 393,074 $ 640,523 $ 238,285 $ 100,539 $ 61,691 $ 510,949 $ — $ 65,283 $ 2,010,344 Home equity Loan delinquency: Current $ 14,454 $ 874 $ 575 $ 1,146 $ 888 $ 17,428 $ 567,035 $ 715 $ 603,115 30-59 days past due 39 — — 93 77 908 1,454 — 2,571 60-89 days past due 175 — 376 26 115 90 — — 782 90 days or more past due — 66 117 85 199 2,091 — 739 3,297 Total $ 14,668 $ 940 $ 1,068 $ 1,350 $ 1,279 $ 20,517 $ 568,489 $ 1,454 $ 609,765 Consumer Loan delinquency: Current $ 68,756 $ 40,850 $ 29,033 $ 30,726 $ 10,761 $ 28,804 $ 96,352 $ 170 $ 305,452 30-59 days past due 661 653 346 71 75 330 152 — 2,288 60-89 days past due 267 280 118 37 47 146 — — 895 90 days or more past due 118 178 95 40 16 214 17 — 678 Total $ 69,802 $ 41,961 $ 29,592 $ 30,874 $ 10,899 $ 29,494 $ 96,521 $ 170 $ 309,313 Loans As of December 31, 2021 Amortized Cost Basis by Origination Year (unaudited, in thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial real estate: land and construction Risk rating: Pass $ 135,179 $ 217,389 $ 198,974 $ 117,157 $ 27,186 $ 29,696 $ 35,059 $ 62,676 $ 823,316 Criticized - compromised 85 6,236 — 33 — 219 856 526 7,955 Classified - substandard — 73 — — — 1,280 — 1,256 2,609 Classified - doubtful — — — — — — — — — Total $ 135,264 $ 223,698 $ 198,974 $ 117,190 $ 27,186 $ 31,195 $ 35,915 $ 64,458 $ 833,880 Commercial real estate: improved property Risk rating: Pass $ 713,697 $ 660,856 $ 589,674 $ 405,689 $ 404,241 $ 1,539,275 $ 58,933 $ 28,507 $ 4,400,872 Criticized - compromised 7,755 15,195 52,859 17,697 14,490 99,687 1,414 13,733 222,830 Classified - substandard 9,355 2,686 4,855 3,730 11,010 49,667 34 49 81,386 Classified - doubtful — — — — — — — — — Total $ 730,807 $ 678,737 $ 647,388 $ 427,116 $ 429,741 $ 1,688,629 $ 60,381 $ 42,289 $ 4,705,088 Commercial and industrial Risk rating: Pass $ 406,495 $ 159,878 $ 99,472 $ 136,146 $ 89,049 $ 223,514 $ 409,789 $ 16,226 $ 1,540,569 Criticized - compromised 590 551 693 2,558 1,645 1,278 5,389 5,029 17,733 Classified - substandard 134 236 18,465 766 2,139 1,419 3,723 5,136 32,018 Classified - doubtful — — — — — — — — — Total $ 407,219 $ 160,665 $ 118,630 $ 139,470 $ 92,833 $ 226,211 $ 418,901 $ 26,391 $ 1,590,320 Residential real estate Loan delinquency: Current $ 599,244 $ 292,653 $ 116,147 $ 71,253 $ 56,917 $ 536,444 $ — $ 29,929 $ 1,702,587 30-59 days past due 1,127 — — 69 105 1,030 — — 2,331 60-89 days past due 563 91 — 271 43 2,286 — — 3,254 90 days or more past due 1,933 673 895 88 762 8,802 — 53 13,206 Total $ 602,867 $ 293,417 $ 117,042 $ 71,681 $ 57,827 $ 548,562 $ — $ 29,982 $ 1,721,378 Home equity Loan delinquency: Current $ 10,076 $ 835 $ 649 $ 379 $ 566 $ 18,064 $ 567,478 $ 1,142 $ 599,189 30-59 days past due — 84 45 128 50 628 1,247 58 2,240 60-89 days past due — — 132 15 188 267 — — 602 90 days or more past due 187 88 119 112 234 2,550 — 361 3,651 Total $ 10,263 $ 1,007 $ 945 $ 634 $ 1,038 $ 21,509 $ 568,725 $ 1,561 $ 605,682 Consumer Loan delinquency: Current $ 60,907 $ 43,871 $ 50,317 $ 19,289 $ 11,084 $ 32,343 $ 55,739 $ 27 $ 273,577 30-59 days past due 435 370 214 136 85 241 51 — 1,532 60-89 days past due 413 375 82 19 33 286 — — 1,208 90 days or more past due 115 141 222 65 1 265 4 — 813 Total $ 61,870 $ 44,757 $ 50,835 $ 19,509 $ 11,203 $ 33,135 $ 55,794 $ 27 $ 277,130 |
Summary of Other Real Estate Owned and Repossessed Assets | The following table summarizes other real estate owned and repossessed assets included in other assets: September 30, December 31, (unaudited, in thousands) 2022 2021 Other real estate owned $ 1,467 $ — Repossessed assets 128 — Total other real estate owned and repossessed assets $ 1,595 $ — |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Fair Values of Derivative Instruments on Balance Sheets | The table below presents the fair value of Wesbanco’s derivative financial instruments as well as their classification on the Balance Sheet as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (unaudited, in thousands) Notional or Asset Liability Notional or Asset Liability Derivatives Loan Swaps: Interest rate swaps $ 816,188 $ 76,381 $ 74,514 $ 730,552 $ 24,867 $ 26,388 Other contracts: Interest rate loan commitments 16,936 — 438 28,994 9 — Forward TBA contracts 32,000 1,074 — 48,500 — 21 Total derivatives $ 77,455 $ 74,952 $ 24,876 $ 26,409 |
Summary of Effect of Derivative Instruments on Income Statement | The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within non-interest income on the consolidated income statement for the three and nine months ended September 30, 2022 and 2021, respectively. For the Three Months For the Nine Months (unaudited, in thousands) Location of Gain/(Loss) 2022 2021 2022 2021 Interest rate swaps Other income $ 786 $ 378 $ 3,389 $ 2,106 Interest rate loan commitments Mortgage banking income ( 491 ) ( 226 ) ( 447 ) ( 678 ) Forward TBA contracts Mortgage banking income 1,147 ( 278 ) 3,195 2,621 Total $ 1,442 $ ( 126 ) $ 6,137 $ 4,049 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Schedule of Defined Benefit Pension Plan | The following table presents the net periodic pension income for Wesbanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: For the Three Months For the Nine Months (unaudited, in thousands) 2022 2021 2022 2021 Service cost – benefits earned during year $ 552 $ 630 $ 1,638 $ 1,869 Interest cost on projected benefit obligation 1,037 861 3,076 2,555 Expected return on plan assets ( 2,917 ) ( 2,825 ) ( 8,655 ) ( 8,382 ) Amortization of prior service cost ( 9 ) ( 9 ) ( 26 ) ( 26 ) Amortization of net loss 128 690 379 2,047 Net periodic pension income $ ( 1,209 ) $ ( 653 ) $ ( 3,588 ) $ ( 1,937 ) |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis | The fair value amounts presented in the table below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. 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 September 30, 2022 and December 31, 2021: September 30, 2022 Fair Value Measurements Using: September 30, Quoted Prices in Significant Significant (unaudited, in thousands) 2022 (level 1) (level 2) (level 3) Recurring fair value measurements Equity securities $ 11,964 $ 11,964 $ — $ — Available-for-sale debt securities U.S. Government sponsored entities and agencies 228,846 — 228,846 — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,909,661 — 1,909,661 — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 398,298 — 398,298 — Obligations of states and political subdivisions 93,826 — 92,651 1,175 Corporate debt securities 15,117 — 15,117 — Total available-for-sale debt securities $ 2,645,748 $ — $ 2,644,573 $ 1,175 Loans held for sale 12,887 — 12,887 — Other assets - interest rate swaps 76,381 — 76,381 — Total assets recurring fair value measurements $ 2,746,980 $ 11,964 $ 2,733,841 $ 1,175 Other liabilities - interest rate swaps $ 74,514 $ — $ 74,514 $ — Total liabilities recurring fair value measurements $ 74,514 $ — $ 74,514 $ — Nonrecurring fair value measurements Collateral dependent loans $ 5,186 $ — $ — $ 5,186 Other real estate owned and repossessed assets 1,595 — — 1,595 Total nonrecurring fair value measurements $ 6,781 $ — $ — $ 6,781 December 31, 2021 Fair Value Measurements Using: December 31, Quoted Prices in Significant Significant (in thousands) 2021 (level 1) (level 2) (level 3) Recurring fair value measurements Equity securities $ 13,466 $ 13,466 $ — $ — Available-for-sale debt securities U.S. Government sponsored entities and agencies 236,978 — 236,978 — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 2,285,213 — 2,285,213 — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 367,493 — 367,493 — Obligations of states and political subdivisions 106,340 — 104,847 1,493 Corporate debt securities 17,438 — 17,438 — Total available-for-sale debt securities $ 3,013,462 $ — $ 3,011,969 $ 1,493 Loans held for sale 25,277 — 25,277 — Other assets - interest rate swaps 24,867 — 24,867 — Total assets recurring fair value measurements $ 3,077,072 $ 13,466 $ 3,062,113 $ 1,493 Other liabilities - interest rate swaps $ 26,388 $ — $ 26,388 $ — Total liabilities recurring fair value measurements $ 26,388 $ — $ 26,388 $ — Nonrecurring fair value measurements Collateral dependent loans $ 13,558 $ — $ — $ 13,558 Other real estate owned and repossessed assets — — — — Total nonrecurring fair value measurements $ 13,558 $ — $ — $ 13,558 |
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 Fair Value Valuation Unobservable Range (Weighted (unaudited, in thousands) Estimate Techniques Input Average) September 30, 2022 Collateral dependent loans $ 5,186 Appraisal of collateral (1) Appraisal adjustments (2) ( 0.0 %)/( 0.0 %) Liquidation expenses (2) ( 8.0 %)/( 8.0 %) Other real estate owned and repossessed assets $ 1,595 Appraisal of collateral (1), (3) December 31, 2021 Collateral dependent loans $ 13,558 Appraisal of collateral (1) Appraisal adjustments (2) ( 0.0 %)/( 0.0 %) Liquidation expenses (2) ( 8.0 %)/( 8.0 %) (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 expense 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 Values of Financial Instruments | The estimated fair values of Wesbanco’s financial instruments are summarized below: Fair Value Measurements at September 30, 2022 Carrying Fair Value Quoted Prices in Significant Significant (unaudited, in thousands) Amount Estimate (level 1) (level 2) (level 3) Financial Assets Cash and due from banks $ 378,556 $ 378,556 $ 378,556 $ — $ — Equity securities 11,964 11,964 11,964 — — Available-for-sale debt securities 2,645,748 2,645,748 — 2,644,573 1,175 Net held-to-maturity debt securities 1,262,242 1,065,833 — 1,065,490 343 Net loans 10,163,078 9,026,768 — — 9,026,768 Loans held for sale 12,887 12,887 — 12,887 — Other assets - interest rate swaps 76,381 76,381 — 76,381 — Accrued interest receivable 63,375 63,375 63,375 — — Financial Liabilities Deposits 13,444,366 13,460,664 12,452,854 1,007,810 — Federal Home Loan Bank borrowings 56,998 56,574 — 56,574 — Other borrowings 127,983 114,067 114,067 — — Subordinated debt and junior subordinated debt 281,179 259,546 — 259,546 — Other liabilities - interest rate swaps 74,514 74,514 — 74,514 — Accrued interest payable 4,358 4,358 4,358 — — Fair Value Measurements at December 31, 2021 Carrying Fair Value Quoted Prices in Significant Significant (in thousands) Amount Estimate (level 1) (level 2) (level 3) Financial Assets Cash and due from banks $ 1,251,358 $ 1,251,358 $ 1,251,358 $ — $ — Equity securities 13,466 13,466 13,466 — — Available-for-sale debt securities 3,013,462 3,013,462 — 3,011,969 1,493 Net held-to-maturity debt securities 1,004,555 1,028,452 — 1,028,047 405 Net loans 9,611,856 9,385,917 — — 9,385,917 Loans held for sale 25,277 25,277 — 25,277 — Other assets - interest rate swaps 24,867 24,867 — 24,867 — Accrued interest receivable 60,844 60,844 60,844 — — Financial Liabilities Deposits 13,565,863 13,575,477 12,273,211 1,302,266 — Federal Home Loan Bank borrowings 183,920 185,684 — 185,684 — Other borrowings 141,893 134,288 134,288 — — Subordinated debt and junior subordinated debt 132,860 109,186 — 109,186 — Other liabilities - interest rate swaps 26,388 26,388 — 26,388 — Accrued interest payable 1,901 1,901 1,901 — — |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue Recognition [Abstract] | |
Summary of Revenue Recognition | The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and nine months ended September 30, 2022 and 2021, respectively: Point of Revenue For the Three Months For the Nine Months (unaudited, in thousands) Recognition 2022 2021 2022 2021 Revenue Streams Trust fees Trust account fees Over time $ 4,456 $ 4,768 $ 14,413 $ 14,792 WesMark fees Over time 2,061 2,521 6,466 7,277 Total trust fees 6,517 7,289 20,879 22,069 Service charges on deposits Commercial banking fees Over time 606 464 1,776 1,629 Personal service charges At a point in time and over time 6,336 5,586 17,744 14,191 Total service charges on deposits 6,942 6,050 19,520 15,820 Net securities brokerage revenue Annuity commissions At a point in time 1,932 1,169 5,193 3,237 Equity and debt security trades At a point in time 29 73 94 206 Managed money Over time 290 311 944 885 Trail commissions Over time 240 412 738 990 Total net securities brokerage revenue 2,491 1,965 6,969 5,318 Debit card sponsorship income (1) At a point in time and over time — — — 646 Payment processing fees (1) At a point in time and over time 818 773 2,436 2,234 Electronic banking fees At a point in time 4,808 5,427 15,307 14,853 Mortgage banking income At a point in time 1,257 4,563 4,508 16,656 Net gain (loss) on other real estate owned and other assets (2) At a point in time and over time 2,040 785 ( 68 ) 4,974 (1) Debit card sponsorship income and payment processing fees are included in other non-interest income. (2) The portion of this line item relating to the change in the fair value of the underlying investments funded by Wesbanco CDC is not within the scope of ASC 606, and totaled gains of $ 1.5 million and $ 0.4 million for the three months ended September 30, 2022 and 2021 , respectively, and (losses) gains of ($ 1.0 ) million and $ 4.2 million for the nine months ended September 30, 2022 and 2021 , respectively. |
Comprehensive Income_(Loss) (Ta
Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income (Loss) | The activity in accumulated other comprehensive income/(loss) for the nine months ended September 30, 2022 and 2021 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (unaudited, in thousands) Defined Unrealized Total Balance at December 31, 2021 $ ( 398 ) $ ( 4,722 ) $ ( 5,120 ) Other comprehensive loss before reclassifications — ( 261,693 ) ( 261,693 ) Amounts reclassified from accumulated other comprehensive loss 165 8 173 Period change 165 ( 261,685 ) ( 261,520 ) Balance at September 30, 2022 $ ( 233 ) $ ( 266,407 ) $ ( 266,640 ) Balance at December 31, 2020 $ ( 15,502 ) $ 46,861 $ 31,359 Other comprehensive loss before reclassifications — ( 28,292 ) ( 28,292 ) Amounts reclassified from accumulated other comprehensive loss 1,431 ( 35 ) 1,396 Period change 1,431 ( 28,327 ) ( 26,896 ) Balance at September 30, 2021 $ ( 14,071 ) $ 18,534 $ 4,463 (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24 % in both periods presented. |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2022 and 2021: Details about Accumulated Other Comprehensive For the Three Months For the Nine Months Affected Line Item in the Statement (unaudited, in thousands) 2022 2021 2022 2021 Debt securities available-for-sale (1) : Net securities gains reclassified into earnings $ — $ ( 12 ) $ 10 $ ( 46 ) Net securities gains (Non-interest income) Related income tax expense ⁽²⁾ — 3 ( 2 ) 11 Provision for income taxes Net effect on accumulated other comprehensive — ( 9 ) 8 ( 35 ) Defined benefit plans (3) : Amortization of net loss and prior service costs 73 635 218 1,886 Employee benefits (Non-interest expense) Related income tax benefit ⁽²⁾ ( 18 ) ( 153 ) ( 53 ) ( 455 ) Provision for income taxes Net effect on accumulated other comprehensive 55 482 165 1,431 Total reclassifications for the period $ 55 $ 473 $ 173 $ 1,396 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 3, “Securities.” (2) Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24 % in both periods presented. (3) Included in the computation of net periodic pension cost. See Note 6, “Benefit Plans” for additional detail. |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding | The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: September 30, December 31, (unaudited, in thousands) 2022 2021 Lines of credit $ 3,548,242 $ 2,954,147 Loans approved but not closed 419,150 472,810 Overdraft limits 386,972 370,439 Letters of credit 30,011 29,017 Contingent obligations and other guarantees 32,472 68,235 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Financial Information by Business Segment | Condensed financial information by business segment is presented below: Trust and Community Investment (unaudited, in thousands) Banking Services Consolidated For The Three Months Ended September 30, 2022 Interest and dividend income $ 134,117 $ — $ 134,117 Interest expense 9,616 — 9,616 Net interest income 124,501 — 124,501 Provision for credit losses ( 535 ) — ( 535 ) Net interest income after provision for credit losses 125,036 — 125,036 Non-interest income 25,739 6,517 32,256 Non-interest expense 88,144 3,797 91,941 Income before provision for income taxes 62,631 2,720 65,351 Provision for income taxes 11,747 571 12,318 Net income 50,884 2,149 53,033 Preferred stock dividends 2,531 — 2,531 Net income available to common shareholders $ 48,353 $ 2,149 $ 50,502 For The Three Months Ended September 30, 2021 Interest and dividend income $ 121,378 $ — $ 121,378 Interest expense 6,103 — 6,103 Net interest income 115,275 — 115,275 Provision for credit losses ( 1,730 ) — ( 1,730 ) Net interest income after provision for credit losses 117,005 — 117,005 Non-interest income 25,466 7,289 32,755 Non-interest expense 90,599 4,102 94,701 Income before provision for income taxes 51,872 3,187 55,059 Provision for income taxes 9,982 669 10,651 Net income 41,890 2,518 44,408 Preferred stock dividends 2,531 — 2,531 Net income available to common shareholders $ 39,359 $ 2,518 $ 41,877 For the Nine Months Ended September 30, 2022 Interest and dividend income $ 364,738 $ — $ 364,738 Interest expense 20,299 — 20,299 Net interest income 344,439 — 344,439 Provision for credit losses ( 4,785 ) — ( 4,785 ) Net interest income after provision for credit losses 349,224 — 349,224 Non-interest income 68,743 20,879 89,622 Non-interest expense 254,484 12,027 266,511 Income before provision for income taxes 163,483 8,852 172,335 Provision for income taxes 30,573 1,859 32,432 Net income 132,910 6,993 139,903 Preferred stock dividends 7,594 — 7,594 Net income available to common shareholders $ 125,316 $ 6,993 $ 132,309 For the Nine Months Ended September 30, 2021 Interest and dividend income $ 369,760 $ — $ 369,760 Interest expense 22,153 — 22,153 Net interest income 347,607 — 347,607 Provision for credit losses ( 50,714 ) — ( 50,714 ) Net interest income after provision for credit losses 398,321 — 398,321 Non-interest income 80,007 22,069 102,076 Non-interest expense 252,428 12,412 264,840 Income before provision for income taxes 225,900 9,657 235,557 Provision for income taxes 45,417 2,028 47,445 Net income 180,483 7,629 188,112 Preferred stock dividends 7,594 — 7,594 Net income available to common shareholders $ 172,889 $ 7,629 $ 180,518 |
Earnings Per Common Share - Sum
Earnings Per Common Share - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Numerator for both basic and diluted earnings per common share: | ||||
Net income available to common shareholders | $ 50,502 | $ 41,877 | $ 132,309 | $ 180,518 |
Denominator: | ||||
Total average basic common shares outstanding | 59,549,244 | 64,931,764 | 60,336,637 | 66,354,750 |
Effect of dilutive stock options and other stock compensation | 148,432 | 134,084 | 152,611 | 155,607 |
Total diluted average common shares outstanding | 59,697,676 | 65,065,848 | 60,489,248 | 66,510,357 |
Earnings per common share - basic | $ 0.85 | $ 0.64 | $ 2.19 | $ 2.72 |
Earnings per common share - diluted | $ 0.85 | $ 0.64 | $ 2.19 | $ 2.71 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Schedule Of Antidilutive Securities Included In Computation Of Earnings Per Share [Line Items] | |||||
Shares contingently issuable under shareholder return plan | 36,000 | 0 | 0 | 0 | |
Stock Option [Member] | |||||
Schedule Of Antidilutive Securities Included In Computation Of Earnings Per Share [Line Items] | |||||
Securities excluded from computation of net income per diluted shares | 534,961 | 522,711 | |||
Restricted Stock [Member] | |||||
Schedule Of Antidilutive Securities Included In Computation Of Earnings Per Share [Line Items] | |||||
Shares contingently issuable under shareholder return plan | 55,230 | 61,267 | |||
2020 TSR Plan [Member] | |||||
Schedule Of Antidilutive Securities Included In Computation Of Earnings Per Share [Line Items] | |||||
Shares contingently issuable under shareholder return plan | 0 |
Securities - Schedule of Fair V
Securities - Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | $ 2,996,453 | $ 3,019,695 |
Available-for-sale, Gross Unrealized Gains | 94 | 30,542 |
Available-for-sale, Gross Unrealized Losses | (350,799) | (36,775) |
Available-for-sale, Estimated Fair Value | 2,645,748 | 3,013,462 |
Held-to-maturity, Amortized Cost | 1,262,467 | 1,004,823 |
Held-to-maturity, Gross Unrealized Gains | 204 | 27,153 |
Held-to-maturity, Gross Unrealized Losses | (196,838) | (3,524) |
Held-to-maturity securities, Fair value | 1,065,833 | 1,028,452 |
Total securities, Amortized Cost | 4,258,920 | 4,024,518 |
Total securities, Gross Unrealized Gains | 298 | 57,695 |
Total securities, Gross Unrealized Losses | (547,637) | (40,299) |
Total securities, Estimated Fair Value | 3,711,581 | 4,041,914 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 263,336 | 236,096 |
Available-for-sale, Gross Unrealized Gains | 1 | 3,922 |
Available-for-sale, Gross Unrealized Losses | (34,491) | (3,040) |
Available-for-sale, Estimated Fair Value | 228,846 | 236,978 |
Held-to-maturity, Amortized Cost | 4,871 | 5,944 |
Held-to-maturity, Gross Unrealized Gains | 72 | |
Held-to-maturity, Gross Unrealized Losses | (474) | (8) |
Held-to-maturity securities, Fair value | 4,397 | 6,008 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 2,210,727 | 2,301,170 |
Available-for-sale, Gross Unrealized Gains | 20 | 16,489 |
Available-for-sale, Gross Unrealized Losses | (301,086) | (32,446) |
Available-for-sale, Estimated Fair Value | 1,909,661 | 2,285,213 |
Held-to-maturity, Amortized Cost | 47,973 | 58,147 |
Held-to-maturity, Gross Unrealized Gains | 1,409 | |
Held-to-maturity, Gross Unrealized Losses | (4,213) | (16) |
Held-to-maturity securities, Fair value | 43,760 | 59,540 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 407,299 | 364,486 |
Available-for-sale, Gross Unrealized Gains | 3 | 4,252 |
Available-for-sale, Gross Unrealized Losses | (9,004) | (1,245) |
Available-for-sale, Estimated Fair Value | 398,298 | 367,493 |
Obligations of State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 99,643 | 101,003 |
Available-for-sale, Gross Unrealized Gains | 69 | 5,372 |
Available-for-sale, Gross Unrealized Losses | (5,886) | (35) |
Available-for-sale, Estimated Fair Value | 93,826 | 106,340 |
Held-to-maturity, Amortized Cost | 1,189,219 | 907,649 |
Held-to-maturity, Gross Unrealized Gains | 204 | 23,854 |
Held-to-maturity, Gross Unrealized Losses | (191,468) | (3,500) |
Held-to-maturity securities, Fair value | 997,955 | 928,003 |
Corporate Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 15,448 | 16,940 |
Available-for-sale, Gross Unrealized Gains | 1 | 507 |
Available-for-sale, Gross Unrealized Losses | (332) | (9) |
Available-for-sale, Estimated Fair Value | 15,117 | 17,438 |
Held-to-maturity, Amortized Cost | 20,404 | 33,083 |
Held-to-maturity, Gross Unrealized Gains | 1,818 | |
Held-to-maturity, Gross Unrealized Losses | (683) | |
Held-to-maturity securities, Fair value | $ 19,721 | $ 34,901 |
Securities - Schedule of Fair_2
Securities - Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Securities (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investments, Debt and Equity Securities [Abstract] | ||
Allowance for credit losses, held-to-maturity debt securities | $ 225 | $ 268 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2022 USD ($) Holding | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) Holding | |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Maximum percentage of equity of one issuer | 10% | ||
Number of holdings greater than specified percentage of equity | Holding | 0 | 0 | |
Equities securities | $ 11,964,000 | $ 13,466,000 | |
Other assets | 350,840,000 | 215,298,000 | |
Proceeds from sale of available-for-sale securities | 0 | $ 0 | |
Net unrealized losses on available-for-sale securities included in AOCI | 266,400 | 4,700,000 | |
Accrued interest receivable | 63,375,000 | 60,844,000 | |
Federal home loan bank stock, Total | 11,400,000 | 15,900,000 | |
Asset Pledged as Security | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Other assets | 2,000,000,000 | 2,100,000,000 | |
Us Government Securities and Mortgage Backed and Collateralized Securities Issued By Direct Governmental Entity or Government-Sponsored Entity [Member] | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Estimated credit losses | 0 | ||
Held-to-maturity Securities [Member] | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Accrued interest receivable | 9,500,000 | $ 7,000,000 | |
Grantor Trusts [Member] | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Equities securities | $ 9,400,000 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Amortized Cost And Fair Value Debt Securities [Abstract] | ||
Total available-for-sale debt securities, Amortized Cost, Within one year | $ 31,190 | |
Total available-for-sale debt securities, Amortized Cost, After 1 year through 5 years | 153,759 | |
Total available-for-sale debt securities, Amortized Cost, After 5 years through 10 years | 474,806 | |
Total available-for-sale debt securities, Amortized Cost, After 10 years | 2,336,698 | |
Available-for-sale, Amortized Cost | 2,996,453 | $ 3,019,695 |
Total held-to-maturity debt securities, Amortized Cost, Within one year | 26,906 | |
Total held-to-maturity debt securities, Amortized Cost, After 1 year through 5 years | 99,676 | |
Total held-to-maturity debt securities, Amortized Cost, After 5 years through 10 years | 350,392 | |
Total held-to-maturity debt securities, Amortized Cost, After 10 years | 785,493 | |
Held-to-maturity, Amortized Cost | 1,262,467 | 1,004,823 |
Total debt securities, Amortized Cost | 4,258,920 | |
Total available-for-sale debt securities, Fair Value, Within one year | 30,874 | |
Total available-for-sale debt securities, Fair Value, After 1 year through 5 years | 149,576 | |
Total available-for-sale debt securities, Fair Value, After 5 years through 10 years | 452,056 | |
Total available-for-sale debt securities, Fair Value, After 10 years | 2,013,242 | |
Total available-for-sale debt securities, Fair Value | 2,645,748 | 3,013,462 |
Total held-to-maturity debt securities, Fair Value, Within one year | 26,820 | |
Total held-to-maturity debt securities, Fair Value, After 1 year through 5 years | 97,773 | |
Total held-to-maturity debt securities, Fair Value, After 5 years through 10 years | 321,926 | |
Total held-to-maturity debt securities, Fair Value, After 10 years | 619,314 | |
Total held-to-maturity debt securities, Fair Value | 1,065,833 | 1,028,452 |
Total debt securities, Fair Value | $ 3,711,581 | $ 4,041,914 |
Securities - Schedule of Gross
Securities - Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities as well as Gains and Losses on Equity Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | ||||
Gross realized gains | $ 30 | $ 22 | $ 168 | $ 222 |
Gross realized losses | (1) | (2) | (12) | (41) |
Net gains on debt securities | 29 | 20 | 156 | 181 |
Net Unrealized gains (losses) recognized on securities still held | (627) | (35) | 1,332 | 559 |
Net securities gains (losses) | $ 656 | $ (15) | $ (1,176) | $ 740 |
Securities - Schedule of Allowa
Securities - Schedule of Allowance for Credit Losses on Held-to-maturity Securities (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Debt Securities Heldtomaturity Allowance For Credit Loss [Line Items] | ||
Beginning balance | $ 268 | |
Ending balance | 225 | |
ASU 2016-13 [Member] | ||
Debt Securities Heldtomaturity Allowance For Credit Loss [Line Items] | ||
Beginning balance | 268 | $ 326 |
Current period provision | (43) | (69) |
Ending balance | 225 | 257 |
ASU 2016-13 [Member] | Obligations of State and Political Subdivisions [Member] | ||
Debt Securities Heldtomaturity Allowance For Credit Loss [Line Items] | ||
Beginning balance | 174 | 130 |
Current period provision | (2) | 35 |
Ending balance | 172 | 165 |
ASU 2016-13 [Member] | Corporate Debt Securities [Member] | ||
Debt Securities Heldtomaturity Allowance For Credit Loss [Line Items] | ||
Beginning balance | 94 | 196 |
Current period provision | (41) | (104) |
Ending balance | $ 53 | $ 92 |
Securities - Schedule of Unreal
Securities - Schedule of Unrealized Losses on Investment Securities (Detail) $ in Thousands | Sep. 30, 2022 USD ($) Security | Dec. 31, 2021 USD ($) Security |
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,261,403 | $ 1,825,891 |
Less than 12 months, Unrealized Losses | $ (99,370) | $ (31,548) |
Less than 12 months, Number of Securities | Security | 615 | 187 |
12 months or more, Fair Value | $ 1,369,553 | $ 252,725 |
12 months or more, Unrealized Losses | $ (251,429) | $ (5,227) |
12 months or more, Number of Securities | Security | 169 | 35 |
Fair Value, Total | $ 2,630,956 | $ 2,078,616 |
Unrealized Losses, Total | $ (350,799) | $ (36,775) |
Number of Securities Total | Security | 784 | 222 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 110,981 | $ 114,486 |
Less than 12 months, Unrealized Losses | $ (9,122) | $ (1,865) |
Less than 12 months, Number of Securities | Security | 36 | 12 |
12 months or more, Fair Value | $ 117,687 | $ 32,688 |
12 months or more, Unrealized Losses | $ (25,369) | $ (1,175) |
12 months or more, Number of Securities | Security | 12 | 4 |
Fair Value, Total | $ 228,668 | $ 147,174 |
Unrealized Losses, Total | $ (34,491) | $ (3,040) |
Number of Securities Total | Security | 48 | 16 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 802,738 | $ 1,568,138 |
Less than 12 months, Unrealized Losses | $ (79,719) | $ (29,060) |
Less than 12 months, Number of Securities | Security | 374 | 143 |
12 months or more, Fair Value | $ 1,104,411 | $ 141,681 |
12 months or more, Unrealized Losses | $ (221,367) | $ (3,386) |
12 months or more, Number of Securities | Security | 128 | 23 |
Fair Value, Total | $ 1,907,149 | $ 1,709,819 |
Unrealized Losses, Total | $ (301,086) | $ (32,446) |
Number of Securities Total | Security | 502 | 166 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 254,304 | $ 131,970 |
Less than 12 months, Unrealized Losses | $ (5,485) | $ (579) |
Less than 12 months, Number of Securities | Security | 50 | 25 |
12 months or more, Fair Value | $ 143,797 | $ 78,356 |
12 months or more, Unrealized Losses | $ (3,519) | $ (666) |
12 months or more, Number of Securities | Security | 26 | 8 |
Fair Value, Total | $ 398,101 | $ 210,326 |
Unrealized Losses, Total | $ (9,004) | $ (1,245) |
Number of Securities Total | Security | 76 | 33 |
Obligations of State and Political Subdivisions [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 79,251 | $ 4,307 |
Less than 12 months, Unrealized Losses | $ (4,725) | $ (35) |
Less than 12 months, Number of Securities | Security | 149 | 2 |
12 months or more, Fair Value | $ 3,171 | |
12 months or more, Unrealized Losses | $ 1,161 | |
12 months or more, Number of Securities | Security | 2 | |
Fair Value, Total | $ 82,422 | $ 4,307 |
Unrealized Losses, Total | $ (5,886) | $ (35) |
Number of Securities Total | Security | 151 | 2 |
Corporate Debt and Other Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 14,129 | $ 6,990 |
Less than 12 months, Unrealized Losses | $ (319) | $ (9) |
Less than 12 months, Number of Securities | Security | 6 | 5 |
12 months or more, Fair Value | $ 487 | |
12 months or more, Unrealized Losses | $ 13 | |
12 months or more, Number of Securities | Security | 1 | |
Fair Value, Total | $ 14,616 | $ 6,990 |
Unrealized Losses, Total | $ (332) | $ (9) |
Number of Securities Total | Security | 7 | 5 |
Loans and the Allowance for C_3
Loans and the Allowance for Credit Losses - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 USD ($) Contract Loan | Dec. 31, 2021 USD ($) Contract | Mar. 31, 2022 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Net deferred loan fee income (costs) | $ 9,900,000 | $ 3,300,000 | |
Un-accreted discount on purchased loans from acquisitions | $ 19,700,000 | 25,900,000 | |
Percentage of national unemployment projection | 4.20% | ||
Expected average percentage of national unemployment in future | 4.70% | ||
Reserve on accrued interest related to CARES Act | $ 200,000 | ||
Accrued interest receivable for loans | 46,500,000 | ||
Accrued interest receivable for loans related to CARES Act | 18,800,000 | ||
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 26,500,000 | 30,200,000 | |
Internally assigned loan grades to residential real estate, home equity and consumer loans | 7,000,000 | 7,400,000 | |
Unfunded commercial loan commitments | $ 27,300,000 | $ 21,700,000 | |
Number of restructured contracts greater than $1 million | Contract | 1 | 0 | |
Threshold for TDR | $ 1,000,000 | ||
Threshold for TDR, net | $ 1,100,000 | ||
Accruing and non accrual TDR permitted interest-only payment period | 6 months | ||
Unfunded commitments to debtors for nonperforming loans | $ 100,000 | $ 100,000 | |
Number of loans modified | Loan | 3,553 | ||
Total loan amount modified CARES Act | $ 2,200,000,000 | ||
Loan amount remaining in deferral period CARES Act | $ 32,600,000 | ||
Description of deferred payments to customers impacted by the COVID-19 pandemic | Wesbanco originally offered three to six months of deferred payments to commercial and retail customers impacted by the COVID-19 pandemic depending on the type of loan and the industry for commercial loans. In the fourth quarter of 2020, Wesbanco offered up to an additional twelve months of deferred payments to certain commercial loan customers, predominantly in the hospitality industry, based on specific criteria related to the borrower, the underlying property and the potential for guarantors or co-borrowers. | ||
Other real estate owned | $ 1,467,000 | ||
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Other real estate owned | 100,000 | 0 | |
Foreclosure proceedings in process on residential real estate loans | 3,700,000 | 4,000,000 | |
Foreclosure proceedings temporarily suspended on real estate loans | 0 | 800,000 | |
PPP Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Net deferred loan fee income (costs) | 500,000 | $ 6,100,000 | |
Commercial and Industrial [Member] | Maximum [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Annual sales of borrowers | $ 100,000,000 |
Loans and the Allowance for C_4
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 10,277,662 | $ 9,733,478 |
Loans held for sale | 12,887 | 25,277 |
Total loans | 10,290,549 | 9,758,755 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,503,848 | 1,427,645 |
Commercial And Industrial - PPP [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 13,008 | 162,675 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 5,831,384 | 5,538,968 |
Commercial Real Estate [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 955,644 | 833,880 |
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 4,875,740 | 4,705,088 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 2,010,344 | 1,721,378 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 309,313 | 277,130 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 609,765 | $ 605,682 |
Loans and the Allowance for C_5
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | $ 121,622 | $ 185,827 |
Allowance for credit losses - loan commitments, beginning balance | 7,775 | 9,514 |
Total beginning allowance for credit losses - loans and loan commitments | 129,397 | 195,341 |
Provision for loan losses | (5,907) | (48,422) |
Provision for loan commitments | 1,163 | (2,224) |
Total provision for credit losses - loans and loan commitments | (4,744) | (50,646) |
Charge-offs | (5,972) | (7,038) |
Recoveries | 4,841 | 6,238 |
Net (charge-offs) recoveries | 1,131 | (800) |
Allowance for credit losses - loans, ending balance | 114,584 | 136,605 |
Allowance for credit losses - loan commitments, ending balance | 8,938 | 7,290 |
Total ending allowance for credit losses - loans and loan commitments | 123,522 | 143,895 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 26,875 | 37,850 |
Allowance for credit losses - loan commitments, beginning balance | 1,497 | 1,275 |
Total beginning allowance for credit losses - loans and loan commitments | 28,372 | 39,125 |
Provision for loan losses | 2,160 | (10,669) |
Provision for loan commitments | (1,214) | 451 |
Total provision for credit losses - loans and loan commitments | 946 | (10,218) |
Charge-offs | (983) | (1,717) |
Recoveries | 871 | 1,737 |
Net (charge-offs) recoveries | 112 | 20 |
Allowance for credit losses - loans, ending balance | 28,923 | 27,201 |
Allowance for credit losses - loan commitments, ending balance | 283 | 1,726 |
Total ending allowance for credit losses - loans and loan commitments | 29,206 | 28,927 |
Deposit Overdrafts [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 2,220 | 639 |
Total beginning allowance for credit losses - loans and loan commitments | 2,220 | 639 |
Provision for loan losses | 260 | 1,709 |
Total provision for credit losses - loans and loan commitments | 260 | 1,709 |
Charge-offs | (1,215) | (932) |
Recoveries | 278 | 264 |
Net (charge-offs) recoveries | 937 | (668) |
Allowance for credit losses - loans, ending balance | 1,543 | 1,680 |
Total ending allowance for credit losses - loans and loan commitments | 1,543 | 1,680 |
Commercial Real Estate [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 7,310 | 10,841 |
Allowance for credit losses - loan commitments, beginning balance | 4,180 | 6,508 |
Total beginning allowance for credit losses - loans and loan commitments | 11,490 | 17,349 |
Provision for loan losses | 1,369 | (3,665) |
Provision for loan commitments | 1,618 | (2,829) |
Total provision for credit losses - loans and loan commitments | 2,987 | (6,494) |
Charge-offs | (73) | (22) |
Recoveries | 25 | 110 |
Net (charge-offs) recoveries | 48 | (88) |
Allowance for credit losses - loans, ending balance | 8,631 | 7,264 |
Allowance for credit losses - loan commitments, ending balance | 5,798 | 3,679 |
Total ending allowance for credit losses - loans and loan commitments | 14,429 | 10,943 |
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 65,355 | 110,652 |
Allowance for credit losses - loan commitments, beginning balance | 201 | 712 |
Total beginning allowance for credit losses - loans and loan commitments | 65,556 | 111,364 |
Provision for loan losses | (12,082) | (29,171) |
Provision for loan commitments | (201) | (394) |
Total provision for credit losses - loans and loan commitments | (12,283) | (29,565) |
Charge-offs | (642) | (933) |
Recoveries | 899 | 1,053 |
Net (charge-offs) recoveries | (257) | 120 |
Allowance for credit losses - loans, ending balance | 53,530 | 81,601 |
Allowance for credit losses - loan commitments, ending balance | 318 | |
Total ending allowance for credit losses - loans and loan commitments | 53,530 | 81,919 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 15,401 | 17,851 |
Allowance for credit losses - loan commitments, beginning balance | 1,576 | 955 |
Total beginning allowance for credit losses - loans and loan commitments | 16,977 | 18,806 |
Provision for loan losses | 1,133 | (3,481) |
Provision for loan commitments | 788 | 254 |
Total provision for credit losses - loans and loan commitments | 1,921 | (3,227) |
Charge-offs | (282) | (842) |
Recoveries | 483 | 885 |
Net (charge-offs) recoveries | (201) | 43 |
Allowance for credit losses - loans, ending balance | 16,735 | 14,413 |
Allowance for credit losses - loan commitments, ending balance | 2,364 | 1,209 |
Total ending allowance for credit losses - loans and loan commitments | 19,099 | 15,622 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 3,737 | 6,507 |
Allowance for credit losses - loan commitments, beginning balance | 272 | 19 |
Total beginning allowance for credit losses - loans and loan commitments | 4,009 | 6,526 |
Provision for loan losses | 1,216 | (2,268) |
Provision for loan commitments | 165 | 287 |
Total provision for credit losses - loans and loan commitments | 1,381 | (1,981) |
Charge-offs | (2,511) | (2,210) |
Recoveries | 1,992 | 1,718 |
Net (charge-offs) recoveries | 519 | (492) |
Allowance for credit losses - loans, ending balance | 4,434 | 3,747 |
Allowance for credit losses - loan commitments, ending balance | 437 | 306 |
Total ending allowance for credit losses - loans and loan commitments | 4,871 | 4,053 |
Home Equity [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for credit losses - loans, beginning balance | 724 | 1,487 |
Allowance for credit losses - loan commitments, beginning balance | 49 | 45 |
Total beginning allowance for credit losses - loans and loan commitments | 773 | 1,532 |
Provision for loan losses | 37 | (877) |
Provision for loan commitments | 7 | 7 |
Total provision for credit losses - loans and loan commitments | 44 | (870) |
Charge-offs | (266) | (382) |
Recoveries | 293 | 471 |
Net (charge-offs) recoveries | (27) | 89 |
Allowance for credit losses - loans, ending balance | 788 | 699 |
Allowance for credit losses - loan commitments, ending balance | 56 | 52 |
Total ending allowance for credit losses - loans and loan commitments | $ 844 | $ 751 |
Loans and the Allowance for C_6
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | $ 4,421 | $ 9,274 | ||
Allowance for loans collectively evaluated for impairment | 110,163 | 112,348 | ||
Allowance for loan commitments | 8,938 | 7,775 | $ 7,290 | $ 9,514 |
Total allowance for credit losses - loans and commitments | 123,522 | 129,397 | 143,895 | 195,341 |
Individually evaluated for credit loss | 32,284 | 68,459 | ||
Collectively-evaluated for credit losses | 10,245,378 | 9,665,019 | ||
Total loans | 10,277,662 | 9,733,478 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 184 | 333 | ||
Allowance for loans collectively evaluated for impairment | 28,739 | 26,542 | ||
Allowance for loan commitments | 283 | 1,497 | 1,726 | 1,275 |
Total allowance for credit losses - loans and commitments | 29,206 | 28,372 | 28,927 | 39,125 |
Individually evaluated for credit loss | 437 | 576 | ||
Collectively-evaluated for credit losses | 1,516,419 | 1,589,744 | ||
Total loans | 1,516,856 | 1,590,320 | ||
Deposit Overdrafts [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 1,543 | 2,220 | ||
Total allowance for credit losses - loans and commitments | 1,543 | 2,220 | 1,680 | 639 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 5,831,384 | 5,538,968 | ||
Commercial Real Estate [Member] | Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 297 | 381 | ||
Allowance for loans collectively evaluated for impairment | 8,334 | 6,929 | ||
Allowance for loan commitments | 5,798 | 4,180 | 3,679 | 6,508 |
Total allowance for credit losses - loans and commitments | 14,429 | 11,490 | 10,943 | 17,349 |
Individually evaluated for credit loss | 1,115 | 1,248 | ||
Collectively-evaluated for credit losses | 954,529 | 832,632 | ||
Total loans | 955,644 | 833,880 | ||
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 3,940 | 8,560 | ||
Allowance for loans collectively evaluated for impairment | 49,590 | 56,795 | ||
Allowance for loan commitments | 201 | 318 | 712 | |
Total allowance for credit losses - loans and commitments | 53,530 | 65,556 | 81,919 | 111,364 |
Individually evaluated for credit loss | 30,732 | 66,635 | ||
Collectively-evaluated for credit losses | 4,845,008 | 4,638,453 | ||
Total loans | 4,875,740 | 4,705,088 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 16,735 | 15,401 | ||
Allowance for loan commitments | 2,364 | 1,576 | 1,209 | 955 |
Total allowance for credit losses - loans and commitments | 19,099 | 16,977 | 15,622 | 18,806 |
Collectively-evaluated for credit losses | 2,010,344 | 1,721,378 | ||
Total loans | 2,010,344 | 1,721,378 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,434 | 3,737 | ||
Allowance for loan commitments | 437 | 272 | 306 | 19 |
Total allowance for credit losses - loans and commitments | 4,871 | 4,009 | 4,053 | 6,526 |
Collectively-evaluated for credit losses | 309,313 | 277,130 | ||
Total loans | 309,313 | 277,130 | ||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 788 | 724 | ||
Allowance for loan commitments | 56 | 49 | 52 | 45 |
Total allowance for credit losses - loans and commitments | 844 | 773 | $ 751 | $ 1,532 |
Collectively-evaluated for credit losses | 609,765 | 605,682 | ||
Total loans | $ 609,765 | $ 605,682 |
Loans and the Allowance for C_7
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | $ 10,277,662 | $ 9,733,478 |
Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 1,516,856 | 1,590,320 |
Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 1,476,543 | 1,540,569 |
Commercial and Industrial [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 24,412 | 17,733 |
Commercial and Industrial [Member] | Classified - substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 15,901 | 32,018 |
Commercial Portfolio Segment [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 7,348,240 | 7,129,288 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 7,098,203 | 6,764,757 |
Commercial Portfolio Segment [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 163,176 | 248,518 |
Commercial Portfolio Segment [Member] | Classified - substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 86,861 | 116,013 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 955,644 | 833,880 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 923,333 | 823,316 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 25,180 | 7,955 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Classified - substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 7,131 | 2,609 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 4,875,740 | 4,705,088 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 4,698,327 | 4,400,872 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 113,584 | 222,830 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Classified - substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | $ 63,829 | 81,386 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 1,590,320 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 1,540,569 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | 17,733 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Classified - substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Portfolio loans, net of unearned income | $ 32,018 |
Loans and the Allowance for C_8
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | $ 10,277,662 | $ 9,733,478 |
90 Days or More Past Due and Accruing | 24,311 | 7,804 |
Loans held for sale | 12,887 | 25,277 |
Total loans, current | 10,228,082 | 9,698,760 |
Total loans | 10,290,549 | 9,758,755 |
Total Non-performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 32,767 | 39,488 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 609,765 | 605,682 |
90 Days or More Past Due and Accruing | 1,006 | 685 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 5,831,384 | 5,538,968 |
90 Days or More Past Due and Accruing | 14,208 | 3,093 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,010,344 | 1,721,378 |
90 Days or More Past Due and Accruing | 2,456 | 2,840 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 309,313 | 277,130 |
90 Days or More Past Due and Accruing | 559 | 627 |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 955,644 | 833,880 |
90 Days or More Past Due and Accruing | 295 | 51 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 4,875,740 | 4,705,088 |
90 Days or More Past Due and Accruing | 13,913 | 3,042 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 1,516,856 | 1,590,320 |
90 Days or More Past Due and Accruing | 6,082 | 559 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 28,184 | 35,742 |
TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 4,583 | 3,746 |
Current [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 10,215,195 | 9,673,483 |
Loans held for sale, current | 12,887 | 25,277 |
Current [Member] | Total Non-performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 16,447 | 14,449 |
Current [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 603,115 | 599,189 |
Current [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 5,807,777 | 5,514,783 |
Current [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 1,998,214 | 1,702,587 |
Current [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 305,452 | 273,577 |
Current [Member] | Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 955,075 | 833,755 |
Current [Member] | Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 4,852,702 | 4,681,028 |
Current [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 1,500,637 | 1,583,347 |
Current [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 12,189 | 11,174 |
Current [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 4,258 | 3,275 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 13,262 | 14,755 |
30-59 Days Past Due [Member] | Total Non-performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 748 | 917 |
30-59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,571 | 2,240 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,607 | 6,377 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 1,079 | 2,331 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,288 | 1,532 |
30-59 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 134 | |
30-59 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,473 | 6,377 |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 4,717 | 2,275 |
30-59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 721 | 914 |
30-59 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 27 | 3 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 10,204 | 14,005 |
60-89 Days Past Due [Member] | Total Non-performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 882 | 691 |
60-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 782 | 602 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,283 | 7,728 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,758 | 3,254 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 895 | 1,208 |
60-89 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 140 | |
60-89 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 2,143 | 7,728 |
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 3,486 | 1,213 |
60-89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 882 | 564 |
60-89 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 127 | |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 39,001 | 31,235 |
90 Days or More Past Due [Member] | Total Non-performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 14,690 | 23,431 |
90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 3,297 | 3,651 |
90 Days or More Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 18,717 | 10,080 |
90 Days or More Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 8,293 | 13,206 |
90 Days or More Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 678 | 813 |
90 Days or More Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 295 | 125 |
90 Days or More Past Due [Member] | Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 18,422 | 9,955 |
90 Days or More Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 8,016 | 3,485 |
90 Days or More Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 14,392 | 23,090 |
90 Days or More Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 298 | 341 |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 62,467 | 59,995 |
Total Past Due [Member] | Total Non-performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 16,320 | 25,039 |
Total Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 6,650 | 6,493 |
Total Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 23,607 | 24,185 |
Total Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 12,130 | 18,791 |
Total Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 3,861 | 3,553 |
Total Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 569 | 125 |
Total Past Due [Member] | Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 23,038 | 24,060 |
Total Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 16,219 | 6,973 |
Total Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | 15,995 | 24,568 |
Total Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Portfolio loans, net of unearned income | $ 325 | $ 471 |
Loans and the Allowance for C_9
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Past due loans excluded TDRs past due and accruing | 90 days |
Loans and the Allowance for _10
Loans and the Allowance for Credit Losses - Summary of Nonperforming Loans (Detail) - Nonperforming Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | $ 42,361 | $ 42,361 | $ 49,794 | ||
Recorded Investment, With no specific allowance recorded | 32,767 | 32,767 | 39,488 | ||
Total impaired loans, Unpaid principal balance | 42,361 | 42,361 | 49,794 | ||
Total impaired loans, Recorded investment | 32,767 | 32,767 | 39,488 | ||
Average recorded investment, with no related specific allowance | 34,030 | $ 38,906 | 36,163 | $ 38,145 | |
Interest income recognized, With no related specific allowance | 99 | (10) | 198 | 160 | |
Average recorded investment, With a specific allowance recorded | 2,084 | 2,087 | |||
Total impaired loans, Average recorded investment | 34,030 | 40,990 | 36,163 | 40,232 | |
Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 22,264 | 22,264 | 25,492 | ||
Recorded Investment, With no specific allowance recorded | 17,125 | 17,125 | 20,065 | ||
Average recorded investment, with no related specific allowance | 17,467 | 21,549 | 18,327 | 21,198 | |
Interest income recognized, With no related specific allowance | 24 | (15) | 96 | 125 | |
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 698 | 698 | 869 | ||
Recorded Investment, With no specific allowance recorded | 385 | 385 | 565 | ||
Average recorded investment, with no related specific allowance | 396 | 411 | 468 | 384 | |
Interest income recognized, With no related specific allowance | 1 | 1 | 3 | 2 | |
Home Equity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 6,486 | 6,486 | 6,985 | ||
Recorded Investment, With no specific allowance recorded | 4,928 | 4,928 | 5,440 | ||
Average recorded investment, with no related specific allowance | 5,046 | 5,544 | 5,279 | 5,591 | |
Interest income recognized, With no related specific allowance | 14 | 20 | 9 | ||
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 74 | ||||
Recorded Investment, With no specific allowance recorded | 73 | ||||
Average recorded investment, with no related specific allowance | 27 | 110 | 70 | 202 | |
Interest income recognized, With no related specific allowance | (2) | ||||
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 8,424 | 8,424 | 9,846 | ||
Recorded Investment, With no specific allowance recorded | 6,767 | 6,767 | 8,089 | ||
Average recorded investment, with no related specific allowance | 7,086 | 6,271 | 7,505 | 6,987 | |
Interest income recognized, With no related specific allowance | 57 | 6 | 71 | 23 | |
Average recorded investment, With a specific allowance recorded | 2,084 | 2,087 | |||
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 4,489 | 4,489 | 6,528 | ||
Recorded Investment, With no specific allowance recorded | 3,562 | 3,562 | $ 5,256 | ||
Average recorded investment, with no related specific allowance | 4,010 | 5,021 | 4,514 | 3,783 | |
Interest income recognized, With no related specific allowance | $ 5 | $ (2) | $ 8 | $ 1 |
Loans and the Allowance for _11
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | $ 28,184 | $ 35,742 |
TDRs | 6,339 | 5,293 |
Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 4,583 | 3,746 |
Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,756 | 1,547 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 3,388 | 5,064 |
TDRs | 174 | 192 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 174 | 192 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 4,642 | 5,163 |
TDRs | 510 | 535 |
Home Equity [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 286 | 277 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 224 | 258 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 5,339 | 7,788 |
TDRs | 1,457 | 507 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,428 | 374 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 29 | 133 |
Commercial Real Estate [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 73 | |
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 5,339 | 7,715 |
TDRs | 1,457 | 507 |
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,428 | 374 |
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 29 | 133 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 14,470 | 17,190 |
TDRs | 4,158 | 4,031 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,655 | 2,875 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,503 | 1,156 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 345 | 537 |
TDRs | 40 | 28 |
Consumer [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ 40 | $ 28 |
Loans and the Allowance for _12
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Parenthetical) (Detail) | Sep. 30, 2022 USD ($) Borrower | Dec. 31, 2021 USD ($) Borrower |
Receivables [Abstract] | ||
Number of borrowers with loan balance greater than one million | Borrower | 1 | 3 |
Borrowers with large amount of loans outstanding, minimum amount of loans per borrower | $ 1,000,000 | $ 1,000,000 |
Borrowers with large amount of loans outstanding, net | $ 1,100,000 | $ 4,100,000 |
Loans and the Allowance for _13
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) Contract | Sep. 30, 2021 USD ($) Contract | Sep. 30, 2022 USD ($) Contract | Sep. 30, 2021 USD ($) Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | 3 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 1,097 | $ 102 | $ 1,370 | $ 160 |
Post-Modification Outstanding Recorded Investment | $ 1,075 | $ 101 | $ 1,075 | $ 156 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,097 | $ 1,370 | ||
Post-Modification Outstanding Recorded Investment | $ 1,075 | $ 1,075 | ||
Commercial Real Estate [Member] | Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 84 | |||
Commercial Real Estate [Member] | Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,097 | $ 1,286 | ||
Post-Modification Outstanding Recorded Investment | $ 1,075 | $ 1,075 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 102 | $ 103 | ||
Post-Modification Outstanding Recorded Investment | $ 101 | $ 101 | ||
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 57 | |||
Post-Modification Outstanding Recorded Investment | $ 55 |
Loans and the Allowance for _14
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2021 USD ($) Contract | |
Financing Receivable, Modifications [Line Items] | |
Number of Defaults | Contract | 1 |
Recorded Investment | $ | $ 234 |
Home Equity [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Defaults | Contract | 1 |
Recorded Investment | $ | $ 234 |
Loans and the Allowance for _15
Loans and the Allowance for Credit Losses - Summary of Amortized Cost Basis Loan Balances by Year of Origination and Credit Quality Indicator (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 10,277,662 | $ 9,733,478 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 13,262 | 14,755 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 10,204 | 14,005 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 39,001 | 31,235 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 14,668 | 10,263 |
Amortized Cost Basis by Origination Year 2021 | 940 | 1,007 |
Amortized Cost Basis by Origination Year 2020 | 1,068 | 945 |
Amortized Cost Basis by Origination Year 2019 | 1,350 | 634 |
Amortized Cost Basis by Origination Year 2018 | 1,279 | 1,038 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 20,517 | 21,509 |
Revolving Loans | 568,489 | 568,725 |
Revolving Loans Converted to Term | 1,454 | 1,561 |
Total loans | 609,765 | 605,682 |
Home Equity [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 14,454 | 10,076 |
Amortized Cost Basis by Origination Year 2021 | 874 | 835 |
Amortized Cost Basis by Origination Year 2020 | 575 | 649 |
Amortized Cost Basis by Origination Year 2019 | 1,146 | 379 |
Amortized Cost Basis by Origination Year 2018 | 888 | 566 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 17,428 | 18,064 |
Revolving Loans | 567,035 | 567,478 |
Revolving Loans Converted to Term | 715 | 1,142 |
Total loans | 603,115 | 599,189 |
Home Equity [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 39 | |
Amortized Cost Basis by Origination Year 2021 | 84 | |
Amortized Cost Basis by Origination Year 2020 | 45 | |
Amortized Cost Basis by Origination Year 2019 | 93 | 128 |
Amortized Cost Basis by Origination Year 2018 | 77 | 50 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 908 | 628 |
Revolving Loans | 1,454 | 1,247 |
Revolving Loans Converted to Term | 58 | |
Total loans | 2,571 | 2,240 |
Home Equity [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 175 | |
Amortized Cost Basis by Origination Year 2020 | 376 | 132 |
Amortized Cost Basis by Origination Year 2019 | 26 | 15 |
Amortized Cost Basis by Origination Year 2018 | 115 | 188 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 90 | 267 |
Total loans | 782 | 602 |
Home Equity [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 187 | |
Amortized Cost Basis by Origination Year 2021 | 66 | 88 |
Amortized Cost Basis by Origination Year 2020 | 117 | 119 |
Amortized Cost Basis by Origination Year 2019 | 85 | 112 |
Amortized Cost Basis by Origination Year 2018 | 199 | 234 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 2,091 | 2,550 |
Revolving Loans Converted to Term | 739 | 361 |
Total loans | 3,297 | 3,651 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 5,831,384 | 5,538,968 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,607 | 6,377 |
Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,283 | 7,728 |
Commercial Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 18,717 | 10,080 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 393,074 | 602,867 |
Amortized Cost Basis by Origination Year 2021 | 640,523 | 293,417 |
Amortized Cost Basis by Origination Year 2020 | 238,285 | 117,042 |
Amortized Cost Basis by Origination Year 2019 | 100,539 | 71,681 |
Amortized Cost Basis by Origination Year 2018 | 61,691 | 57,827 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 510,949 | 548,562 |
Revolving Loans Converted to Term | 65,283 | 29,982 |
Total loans | 2,010,344 | 1,721,378 |
Residential Real Estate [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 393,074 | 599,244 |
Amortized Cost Basis by Origination Year 2021 | 640,158 | 292,653 |
Amortized Cost Basis by Origination Year 2020 | 238,285 | 116,147 |
Amortized Cost Basis by Origination Year 2019 | 99,970 | 71,253 |
Amortized Cost Basis by Origination Year 2018 | 61,470 | 56,917 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 500,020 | 536,444 |
Revolving Loans Converted to Term | 65,237 | 29,929 |
Total loans | 1,998,214 | 1,702,587 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 1,127 | |
Amortized Cost Basis by Origination Year 2019 | 69 | |
Amortized Cost Basis by Origination Year 2018 | 105 | |
Amortized Cost Basis by Origination Year, Prior to 2018 | 1,079 | 1,030 |
Total loans | 1,079 | 2,331 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 563 | |
Amortized Cost Basis by Origination Year 2021 | 365 | 91 |
Amortized Cost Basis by Origination Year 2019 | 282 | 271 |
Amortized Cost Basis by Origination Year 2018 | 101 | 43 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 2,010 | 2,286 |
Total loans | 2,758 | 3,254 |
Residential Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 1,933 | |
Amortized Cost Basis by Origination Year 2021 | 673 | |
Amortized Cost Basis by Origination Year 2020 | 895 | |
Amortized Cost Basis by Origination Year 2019 | 287 | 88 |
Amortized Cost Basis by Origination Year 2018 | 120 | 762 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 7,840 | 8,802 |
Revolving Loans Converted to Term | 46 | 53 |
Total loans | 8,293 | 13,206 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 69,802 | 61,870 |
Amortized Cost Basis by Origination Year 2021 | 41,961 | 44,757 |
Amortized Cost Basis by Origination Year 2020 | 29,592 | 50,835 |
Amortized Cost Basis by Origination Year 2019 | 30,874 | 19,509 |
Amortized Cost Basis by Origination Year 2018 | 10,899 | 11,203 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 29,494 | 33,135 |
Revolving Loans | 96,521 | 55,794 |
Revolving Loans Converted to Term | 170 | 27 |
Total loans | 309,313 | 277,130 |
Consumer [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 68,756 | 60,907 |
Amortized Cost Basis by Origination Year 2021 | 40,850 | 43,871 |
Amortized Cost Basis by Origination Year 2020 | 29,033 | 50,317 |
Amortized Cost Basis by Origination Year 2019 | 30,726 | 19,289 |
Amortized Cost Basis by Origination Year 2018 | 10,761 | 11,084 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 28,804 | 32,343 |
Revolving Loans | 96,352 | 55,739 |
Revolving Loans Converted to Term | 170 | 27 |
Total loans | 305,452 | 273,577 |
Consumer [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 661 | 435 |
Amortized Cost Basis by Origination Year 2021 | 653 | 370 |
Amortized Cost Basis by Origination Year 2020 | 346 | 214 |
Amortized Cost Basis by Origination Year 2019 | 71 | 136 |
Amortized Cost Basis by Origination Year 2018 | 75 | 85 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 330 | 241 |
Revolving Loans | 152 | 51 |
Total loans | 2,288 | 1,532 |
Consumer [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 267 | 413 |
Amortized Cost Basis by Origination Year 2021 | 280 | 375 |
Amortized Cost Basis by Origination Year 2020 | 118 | 82 |
Amortized Cost Basis by Origination Year 2019 | 37 | 19 |
Amortized Cost Basis by Origination Year 2018 | 47 | 33 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 146 | 286 |
Total loans | 895 | 1,208 |
Consumer [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 118 | 115 |
Amortized Cost Basis by Origination Year 2021 | 178 | 141 |
Amortized Cost Basis by Origination Year 2020 | 95 | 222 |
Amortized Cost Basis by Origination Year 2019 | 40 | 65 |
Amortized Cost Basis by Origination Year 2018 | 16 | 1 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 214 | 265 |
Revolving Loans | 17 | 4 |
Total loans | 678 | 813 |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 129,030 | 135,264 |
Amortized Cost Basis by Origination Year 2021 | 156,209 | 223,698 |
Amortized Cost Basis by Origination Year 2020 | 170,360 | 198,974 |
Amortized Cost Basis by Origination Year 2019 | 182,096 | 117,190 |
Amortized Cost Basis by Origination Year 2018 | 117,421 | 27,186 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 55,987 | 31,195 |
Revolving Loans | 93,043 | 35,915 |
Revolving Loans Converted to Term | 51,498 | 64,458 |
Total loans | 955,644 | 833,880 |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 134 | |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 140 | |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 295 | 125 |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 129,030 | 135,179 |
Amortized Cost Basis by Origination Year 2021 | 155,816 | 217,389 |
Amortized Cost Basis by Origination Year 2020 | 164,359 | 198,974 |
Amortized Cost Basis by Origination Year 2019 | 182,096 | 117,157 |
Amortized Cost Basis by Origination Year 2018 | 92,973 | 27,186 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 54,518 | 29,696 |
Revolving Loans | 93,043 | 35,059 |
Revolving Loans Converted to Term | 51,498 | 62,676 |
Total loans | 923,333 | 823,316 |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | Criticized [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 85 | |
Amortized Cost Basis by Origination Year 2021 | 393 | 6,236 |
Amortized Cost Basis by Origination Year 2019 | 33 | |
Amortized Cost Basis by Origination Year 2018 | 24,448 | |
Amortized Cost Basis by Origination Year, Prior to 2018 | 339 | 219 |
Revolving Loans | 856 | |
Revolving Loans Converted to Term | 526 | |
Total loans | 25,180 | 7,955 |
Commercial Real Estate - Land and Construction [Member] | Commercial Real Estate [Member] | Classified - substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2021 | 73 | |
Amortized Cost Basis by Origination Year 2020 | 6,001 | |
Amortized Cost Basis by Origination Year, Prior to 2018 | 1,130 | 1,280 |
Revolving Loans Converted to Term | 1,256 | |
Total loans | 7,131 | 2,609 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 799,224 | 730,807 |
Amortized Cost Basis by Origination Year 2021 | 618,642 | 678,737 |
Amortized Cost Basis by Origination Year 2020 | 622,267 | 647,388 |
Amortized Cost Basis by Origination Year 2019 | 562,273 | 427,116 |
Amortized Cost Basis by Origination Year 2018 | 382,575 | 429,741 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 1,780,217 | 1,688,629 |
Revolving Loans | 83,844 | 60,381 |
Revolving Loans Converted to Term | 26,698 | 42,289 |
Total loans | 4,875,740 | 4,705,088 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,473 | 6,377 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,143 | 7,728 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 18,422 | 9,955 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 799,090 | 713,697 |
Amortized Cost Basis by Origination Year 2021 | 617,653 | 660,856 |
Amortized Cost Basis by Origination Year 2020 | 619,263 | 589,674 |
Amortized Cost Basis by Origination Year 2019 | 539,169 | 405,689 |
Amortized Cost Basis by Origination Year 2018 | 359,321 | 404,241 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 1,654,366 | 1,539,275 |
Revolving Loans | 82,767 | 58,933 |
Revolving Loans Converted to Term | 26,698 | 28,507 |
Total loans | 4,698,327 | 4,400,872 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | Criticized [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 134 | 7,755 |
Amortized Cost Basis by Origination Year 2021 | 989 | 15,195 |
Amortized Cost Basis by Origination Year 2020 | 2,602 | 52,859 |
Amortized Cost Basis by Origination Year 2019 | 6,153 | 17,697 |
Amortized Cost Basis by Origination Year 2018 | 13,343 | 14,490 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 89,320 | 99,687 |
Revolving Loans | 1,043 | 1,414 |
Revolving Loans Converted to Term | 13,733 | |
Total loans | 113,584 | 222,830 |
Commercial Real Estate - Improved Property [Member] | Commercial Real Estate [Member] | Classified - substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 9,355 | |
Amortized Cost Basis by Origination Year 2021 | 2,686 | |
Amortized Cost Basis by Origination Year 2020 | 402 | 4,855 |
Amortized Cost Basis by Origination Year 2019 | 16,951 | 3,730 |
Amortized Cost Basis by Origination Year 2018 | 9,911 | 11,010 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 36,531 | 49,667 |
Revolving Loans | 34 | 34 |
Revolving Loans Converted to Term | 49 | |
Total loans | 63,829 | 81,386 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 193,726 | 407,219 |
Amortized Cost Basis by Origination Year 2021 | 207,993 | 160,665 |
Amortized Cost Basis by Origination Year 2020 | 125,939 | 118,630 |
Amortized Cost Basis by Origination Year 2019 | 91,072 | 139,470 |
Amortized Cost Basis by Origination Year 2018 | 110,489 | 92,833 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 265,793 | 226,211 |
Revolving Loans | 500,988 | 418,901 |
Revolving Loans Converted to Term | 20,856 | 26,391 |
Total loans | 1,516,856 | 1,590,320 |
Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,717 | 2,275 |
Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,486 | 1,213 |
Commercial and Industrial [Member] | 90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 8,016 | 3,485 |
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 193,429 | 406,495 |
Amortized Cost Basis by Origination Year 2021 | 203,882 | 159,878 |
Amortized Cost Basis by Origination Year 2020 | 124,640 | 99,472 |
Amortized Cost Basis by Origination Year 2019 | 79,989 | 136,146 |
Amortized Cost Basis by Origination Year 2018 | 109,885 | 89,049 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 260,849 | 223,514 |
Revolving Loans | 492,838 | 409,789 |
Revolving Loans Converted to Term | 11,031 | 16,226 |
Total loans | 1,476,543 | 1,540,569 |
Commercial and Industrial [Member] | Criticized [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 297 | 590 |
Amortized Cost Basis by Origination Year 2021 | 728 | 551 |
Amortized Cost Basis by Origination Year 2020 | 298 | 693 |
Amortized Cost Basis by Origination Year 2019 | 8,695 | 2,558 |
Amortized Cost Basis by Origination Year 2018 | 199 | 1,645 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 2,359 | 1,278 |
Revolving Loans | 7,592 | 5,389 |
Revolving Loans Converted to Term | 4,244 | 5,029 |
Total loans | 24,412 | 17,733 |
Commercial and Industrial [Member] | Classified - substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amortized Cost Basis by Origination Year 2022 | 134 | |
Amortized Cost Basis by Origination Year 2021 | 3,383 | 236 |
Amortized Cost Basis by Origination Year 2020 | 1,001 | 18,465 |
Amortized Cost Basis by Origination Year 2019 | 2,388 | 766 |
Amortized Cost Basis by Origination Year 2018 | 405 | 2,139 |
Amortized Cost Basis by Origination Year, Prior to 2018 | 2,585 | 1,419 |
Revolving Loans | 558 | 3,723 |
Revolving Loans Converted to Term | 5,581 | 5,136 |
Total loans | $ 15,901 | $ 32,018 |
Loans and the Allowance for _16
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) $ in Thousands | Sep. 30, 2022 USD ($) |
Receivables [Abstract] | |
Other real estate owned | $ 1,467 |
Repossessed assets | 128 |
Total other real estate owned and repossessed assets | $ 1,595 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 USD ($) Derivative | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) Derivative | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) Derivative | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Collateral posted with market value on liability positions with credit risk-related contingent features | $ 44,600,000 | $ 44,600,000 | |||
Interest Rate Swaps [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Number of interest rate swaps | Derivative | 147 | 147 | 135 | ||
Aggregate notional amount | $ 816,200,000 | $ 816,200,000 | $ 730,600,000 | ||
Income (loss) on derivative instrument not designated hedges | $ 1,600,000 | $ 400,000 | $ 2,700,000 | $ 3,300,000 | |
Risk Participation in Agreements [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Number of interest rate swaps | Derivative | 14 | 14 | 13 | ||
Aggregate notional amount | $ 152,300,000 | $ 152,300,000 | $ 128,200,000 | ||
Risk Participation out Agreement [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Number of interest rate swaps | Derivative | 1 | 1 | 1 | ||
Aggregate notional amount | $ 9,600,000 | $ 9,600,000 | $ 9,800,000 | ||
Other Contract [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Aggregate notional amount | 32,000,000 | 32,000,000 | |||
Other Contract [Member] | Forward TBA Contracts [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Aggregate notional amount | $ 32,000,000 | $ 32,000,000 | $ 48,500,000 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Summary of Fair Values of Derivative Instruments on Balance Sheets (Detail) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 77,455,000 | $ 24,876,000 |
Liability Derivatives | 74,952,000 | 26,409,000 |
Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 32,000,000 | |
Interest Rate Swaps [Member] | Loan Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 816,188,000 | 730,552,000 |
Asset Derivatives | 76,381,000 | 24,867,000 |
Liability Derivatives | 74,514,000 | 26,388,000 |
Interest Rate Loan Commitments [Member] | Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 16,936,000 | 28,994,000 |
Asset Derivatives | 9,000 | |
Liability Derivatives | 438,000 | |
Forward TBA Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | ||
Forward TBA Contracts [Member] | Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 32,000,000 | 48,500,000 |
Asset Derivatives | $ 1,074,000 | |
Liability Derivatives | $ 21,000 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Summary of Effect of Derivative Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | $ 1,442 | $ (126) | $ 6,137 | $ 4,049 |
Interest Rate Swaps [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | $ 786 | $ 378 | $ 3,389 | $ 2,106 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income |
Interest Rate Loan Commitments [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | $ (491) | $ (226) | $ (447) | $ (678) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Non Interest Income Derived From Mortgage Banking Activities | Non Interest Income Derived From Mortgage Banking Activities | Non Interest Income Derived From Mortgage Banking Activities | Non Interest Income Derived From Mortgage Banking Activities |
Forward TBA Contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | $ 1,147 | $ (278) | $ 3,195 | $ 2,621 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Non Interest Income Derived From Mortgage Banking Activities | Non Interest Income Derived From Mortgage Banking Activities | Non Interest Income Derived From Mortgage Banking Activities | Non Interest Income Derived From Mortgage Banking Activities |
Benefit Plans - Defined Benefit
Benefit Plans - Defined Benefit Pension Plan (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Retirement Benefits [Abstract] | ||||
Service cost – benefits earned during year | $ 552 | $ 630 | $ 1,638 | $ 1,869 |
Interest cost on projected benefit obligation | 1,037 | 861 | 3,076 | 2,555 |
Expected return on plan assets | (2,917) | (2,825) | (8,655) | (8,382) |
Amortization of prior service cost | (9) | (9) | (26) | (26) |
Amortization of net loss | 128 | 690 | 379 | 2,047 |
Net periodic pension income | $ (1,209) | $ (653) | $ (3,588) | $ (1,937) |
Benefit Plans - Additional Info
Benefit Plans - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Retirement Benefits [Abstract] | ||||
Service cost | $ 552,000 | $ 630,000 | $ 1,638,000 | $ 1,869,000 |
Periodic pension income | 5,200,000 | $ 3,800,000 | ||
Expected voluntary contribution for the year 2021 | $ 0 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | $ 11,964 | $ 13,466 |
Available-for-sale debt securities | 2,645,748 | 3,013,462 |
Loans held for sale | 12,887 | 25,277 |
Other real estate owned and repossessed assets | 1,595 | |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 11,964 | 13,466 |
Available-for-sale debt securities | 2,645,748 | 3,013,462 |
Loans held for sale | 12,887 | 25,277 |
Other assets - interest rate swaps | 76,381 | 24,867 |
Total assets | 2,746,980 | 3,077,072 |
Other liabilities - interest rate swaps | 74,514 | 26,388 |
Total liabilities recurring fair value measurements | 74,514 | 26,388 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 5,186 | 13,558 |
Other real estate owned and repossessed assets | 1,595 | |
Total assets | 6,781 | 13,558 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 228,846 | 236,978 |
U.S. Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 228,846 | 236,978 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 1,909,661 | 2,285,213 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 1,909,661 | 2,285,213 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 398,298 | 367,493 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 398,298 | 367,493 |
Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 93,826 | 106,340 |
Obligations of States and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 93,826 | 106,340 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 15,117 | 17,438 |
Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 15,117 | 17,438 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 11,964 | 13,466 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 11,964 | 13,466 |
Total assets | 11,964 | 13,466 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 2,644,573 | 3,011,969 |
Loans held for sale | 12,887 | 25,277 |
Other assets - interest rate swaps | 76,381 | 24,867 |
Other liabilities - interest rate swaps | 74,514 | 26,388 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 2,644,573 | 3,011,969 |
Loans held for sale | 12,887 | 25,277 |
Other assets - interest rate swaps | 76,381 | 24,867 |
Total assets | 2,733,841 | 3,062,113 |
Other liabilities - interest rate swaps | 26,388 | |
Total liabilities recurring fair value measurements | 74,514 | 26,388 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 228,846 | 236,978 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 1,909,661 | 2,285,213 |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 398,298 | 367,493 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 92,651 | 104,847 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 15,117 | 17,438 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 1,175 | 1,493 |
Significant Unobservable Inputs (Level 3) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | 1,175 | 1,493 |
Total assets | 1,175 | 1,493 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent loans | 5,186 | 13,558 |
Other real estate owned and repossessed assets | 1,595 | |
Total assets | 6,781 | 13,558 |
Significant Unobservable Inputs (Level 3) [Member] | Obligations of States and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities | $ 1,175 | $ 1,493 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |||
Fair value transfer amount | $ 0 | $ 0 | $ 0 |
Fair Value Measurement - Sche_2
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Other real estate owned and repossessed assets | $ 1,595 | |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Collateral dependent loans | 5,186 | $ 13,558 |
Other real estate owned and repossessed assets | 1,595 | |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Collateral dependent loans | 5,186 | $ 13,558 |
Other real estate owned and repossessed assets | $ 1,595 | |
Collateral dependent loans, Appraisal adjustments | (0.00%) | (0.00%) |
Collateral dependent loans, Liquidation expenses | (8.00%) | (8.00%) |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Weighted Average [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Collateral dependent loans, Appraisal adjustments | (0.00%) | (0.00%) |
Collateral dependent loans, Liquidation expenses | (8.00%) | (8.00%) |
Fair Value Measurement - Estima
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financial Assets | ||
Cash and due from banks | $ 378,556 | $ 1,251,358 |
Equity securities | 11,964 | 13,466 |
Available-for-sale debt securities | 2,645,748 | 3,013,462 |
Net held-to-maturity debt securities | 1,262,242 | 1,004,555 |
Loans held for sale | 12,887 | 25,277 |
Accrued interest receivable | 63,375 | 60,844 |
Financial Liabilities | ||
Deposits | 13,444,366 | 13,565,863 |
Federal Home Loan Bank borrowings | 56,998 | 183,920 |
Other borrowings | 127,983 | 141,893 |
Subordinated debt and junior subordinated debt | 281,179 | 132,860 |
Accrued interest payable | 4,358 | 1,901 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets | ||
Cash and due from banks | 378,556 | 1,251,358 |
Equity securities | 11,964 | 13,466 |
Accrued interest receivable | 63,375 | 60,844 |
Financial Liabilities | ||
Deposits | 12,452,854 | 12,273,211 |
Other borrowings | 114,067 | 134,288 |
Accrued interest payable | 4,358 | 1,901 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets | ||
Available-for-sale debt securities | 2,644,573 | 3,011,969 |
Net held-to-maturity debt securities | 1,065,490 | 1,028,047 |
Loans held for sale | 12,887 | 25,277 |
Other assets - interest rate swaps | 76,381 | 24,867 |
Financial Liabilities | ||
Deposits | 1,007,810 | 1,302,266 |
Federal Home Loan Bank borrowings | 56,574 | 185,684 |
Subordinated debt and junior subordinated debt | 259,546 | 109,186 |
Other liabilities - interest rate swaps | 74,514 | 26,388 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets | ||
Available-for-sale debt securities | 1,175 | 1,493 |
Net held-to-maturity debt securities | 343 | 405 |
Net loans | 9,026,768 | 9,385,917 |
Carrying Amount [Member] | ||
Financial Assets | ||
Cash and due from banks | 378,556 | 1,251,358 |
Equity securities | 11,964 | 13,466 |
Available-for-sale debt securities | 2,645,748 | 3,013,462 |
Net held-to-maturity debt securities | 1,262,242 | 1,004,555 |
Net loans | 10,163,078 | 9,611,856 |
Loans held for sale | 12,887 | 25,277 |
Other assets - interest rate swaps | 76,381 | 24,867 |
Accrued interest receivable | 63,375 | 60,844 |
Financial Liabilities | ||
Deposits | 13,444,366 | 13,565,863 |
Federal Home Loan Bank borrowings | 56,998 | 183,920 |
Other borrowings | 127,983 | 141,893 |
Subordinated debt and junior subordinated debt | 281,179 | 132,860 |
Other liabilities - interest rate swaps | 74,514 | 26,388 |
Accrued interest payable | 4,358 | 1,901 |
Fair Value Estimate [Member] | ||
Financial Assets | ||
Cash and due from banks | 378,556 | 1,251,358 |
Equity securities | 11,964 | 13,466 |
Available-for-sale debt securities | 2,645,748 | 3,013,462 |
Net held-to-maturity debt securities | 1,065,833 | 1,028,452 |
Net loans | 9,026,768 | 9,385,917 |
Loans held for sale | 12,887 | 25,277 |
Other assets - interest rate swaps | 76,381 | 24,867 |
Accrued interest receivable | 63,375 | 60,844 |
Financial Liabilities | ||
Deposits | 13,460,664 | 13,575,477 |
Federal Home Loan Bank borrowings | 56,574 | 185,684 |
Other borrowings | 114,067 | 134,288 |
Subordinated debt and junior subordinated debt | 259,546 | 109,186 |
Other liabilities - interest rate swaps | 74,514 | 26,388 |
Accrued interest payable | $ 4,358 | $ 1,901 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenue Recognition (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule Of Revenue Recognition [Line Items] | ||||
Total net securities brokerage revenue | $ 2,491,000 | $ 1,965,000 | $ 6,969,000 | $ 5,318,000 |
Debit card sponsorship income | 0 | 0 | 0 | 646,000 |
Electronic banking fees | 4,808,000 | 5,427,000 | 15,307,000 | 14,853,000 |
Mortgage banking income | 1,257,000 | 4,563,000 | 4,508,000 | 16,656,000 |
Net gain (loss) on other real estate owned and other assets | 2,040,000 | 785,000 | (68,000) | 4,974,000 |
Total Service Charges on Deposits [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 6,942,000 | 6,050,000 | 19,520,000 | 15,820,000 |
Trust Account fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 4,456,000 | 4,768,000 | $ 14,413,000 | 14,792,000 |
Point of revenue recognition | Over time | |||
WesMark Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 2,061,000 | 2,521,000 | $ 6,466,000 | 7,277,000 |
Point of revenue recognition | Over time | |||
Total Trust Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 6,517,000 | 7,289,000 | $ 20,879,000 | 22,069,000 |
Commercial Banking Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 606,000 | 464,000 | $ 1,776,000 | 1,629,000 |
Point of revenue recognition | Over time | |||
Personal Service Charges [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 6,336,000 | 5,586,000 | $ 17,744,000 | 14,191,000 |
Point of revenue recognition | At a point in time and over time | |||
Annuity Commissions [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total net securities brokerage revenue | 1,932,000 | 1,169,000 | $ 5,193,000 | 3,237,000 |
Point of revenue recognition | At a point in time | |||
Equity And Debt Security Trades [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total net securities brokerage revenue | 29,000 | 73,000 | $ 94,000 | 206,000 |
Point of revenue recognition | At a point in time | |||
Managed Money [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total net securities brokerage revenue | 290,000 | 311,000 | $ 944,000 | 885,000 |
Point of revenue recognition | Over time | |||
Trail Commissions [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total net securities brokerage revenue | 240,000 | 412,000 | $ 738,000 | 990,000 |
Point of revenue recognition | Over time | |||
Payment Processing Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Payment Processing Fees | $ 818,000 | $ 773,000 | $ 2,436,000 | $ 2,234,000 |
Point of revenue recognition | At a point in time and over time | |||
Debit Card Sponsorship Income [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time and over time | |||
Electronic Banking Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time | |||
Mortgage [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time | |||
Other Real Estate Owned and Other Assets [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time and over time |
Revenue Recognition - Summary_2
Revenue Recognition - Summary of Revenue Recognition (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenue Recognition [Abstract] | ||||
Gain (losses) on change in fair value of other real estate owned and other assets not within scope of ASC 606 | $ 1.5 | $ 0.4 | $ (1) | $ 4.2 |
Comprehensive Income_(Loss) - C
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ 2,467,951 | $ 2,780,836 | $ 2,693,166 | $ 2,756,737 |
Amounts reclassified from accumulated other comprehensive loss | 55 | 473 | 173 | 1,396 |
Total other comprehensive gain (loss) | (90,579) | (8,123) | (261,520) | (26,896) |
Ending Balance | 2,395,652 | 2,723,983 | 2,395,652 | 2,723,983 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (398) | (15,502) | ||
Other comprehensive loss before reclassifications | 0 | |||
Amounts reclassified from accumulated other comprehensive loss | 55 | 482 | 165 | 1,431 |
Total other comprehensive gain (loss) | 165 | 1,431 | ||
Ending Balance | (233) | (14,071) | (233) | (14,071) |
Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (4,722) | 46,861 | ||
Other comprehensive loss before reclassifications | (261,693) | (28,292) | ||
Amounts reclassified from accumulated other comprehensive loss | (9) | 8 | (35) | |
Total other comprehensive gain (loss) | (261,685) | (28,327) | ||
Ending Balance | (266,407) | 18,534 | (266,407) | 18,534 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (176,061) | 12,586 | (5,120) | 31,359 |
Other comprehensive loss before reclassifications | (261,693) | (28,292) | ||
Amounts reclassified from accumulated other comprehensive loss | 173 | 1,396 | ||
Total other comprehensive gain (loss) | (90,579) | (8,123) | (261,520) | (26,896) |
Ending Balance | $ (266,640) | $ 4,463 | $ (266,640) | $ 4,463 |
Comprehensive Income_(Loss) -_2
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Percentage of Federal and State income tax rate | 24% | 24% | 24% | 24% |
Comprehensive Income_(Loss) - S
Comprehensive Income/(Loss) - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net securities gains reclassified into earnings | $ (656) | $ 15 | $ 1,176 | $ (740) |
Provision for income taxes | 12,318 | 10,651 | 32,432 | 47,445 |
Employee benefits (Non-interest expense) | 10,693 | 10,658 | 28,574 | 30,191 |
Net effect on accumulated other comprehensive income/(loss) for the period | 55 | 473 | 173 | 1,396 |
Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income/(loss) for the period | (9) | 8 | (35) | |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income/(loss) for the period | 55 | 482 | 165 | 1,431 |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net securities gains reclassified into earnings | (12) | (10) | (46) | |
Provision for income taxes | 3 | (2) | 11 | |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Provision for income taxes | (18) | (153) | (53) | (455) |
Employee benefits (Non-interest expense) | $ 73 | $ 635 | $ 218 | $ 1,886 |
Comprehensive Income_(Loss) -_3
Comprehensive Income/(Loss) - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Percentage of Federal and State income tax rate | 24% | 24% | 24% | 24% |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Allowance for credit losses associated with loan commitments | $ 8.9 | $ 7.8 |
Liability associated with letters of credit | $ 0.2 | $ 0.2 |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lines of credit | $ 3,548,242 | $ 2,954,147 |
Loans approved but not closed | 419,150 | 472,810 |
Overdraft limits | 386,972 | 370,439 |
Letters of credit | 30,011 | 29,017 |
Contingent obligations and other guarantees | $ 32,472 | $ 68,235 |
Business Segments - Additional
Business Segments - Additional Information (Detail) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 USD ($) Segment | Sep. 30, 2021 USD ($) | |
Segment Reporting Information [Line Items] | ||
Operating segments | Segment | 2 | |
Trust and Investment Services [Member] | ||
Segment Reporting Information [Line Items] | ||
Market value of assets managed or held in custody by trust and investment services segment | $ 4,600 | $ 5,500 |
Total non-fiduciary assets of the trust and investment services segment | 3.5 | 3.9 |
Trust and Investment Services [Member] | Customer-Related Intangible Assets [Member] | ||
Segment Reporting Information [Line Items] | ||
Total non-fiduciary assets of the trust and investment services segment | $ 1.2 | $ 1.5 |
Business Segments - Financial I
Business Segments - Financial Information by Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Interest and dividend income | $ 134,117 | $ 121,378 | $ 364,738 | $ 369,760 |
Interest expense | 9,616 | 6,103 | 20,299 | 22,153 |
NET INTEREST INCOME | 124,501 | 115,275 | 344,439 | 347,607 |
Provision for credit losses | (535) | (1,730) | (4,785) | (50,714) |
Net interest income after provision for credit losses | 125,036 | 117,005 | 349,224 | 398,321 |
Non-interest income | 32,256 | 32,755 | 89,622 | 102,076 |
Non-interest expense | 91,941 | 94,701 | 266,511 | 264,840 |
Income before provision for income taxes | 65,351 | 55,059 | 172,335 | 235,557 |
Provision for income taxes | 12,318 | 10,651 | 32,432 | 47,445 |
Net income | 53,033 | 44,408 | 139,903 | 188,112 |
Preferred stock dividends | 2,531 | 2,531 | 7,594 | 7,594 |
Net income available to common shareholders | 50,502 | 41,877 | 132,309 | 180,518 |
Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest and dividend income | 134,117 | 121,378 | 364,738 | 369,760 |
Interest expense | 9,616 | 6,103 | 20,299 | 22,153 |
NET INTEREST INCOME | 124,501 | 115,275 | 344,439 | 347,607 |
Provision for credit losses | (535) | (1,730) | (4,785) | (50,714) |
Net interest income after provision for credit losses | 125,036 | 117,005 | 349,224 | 398,321 |
Non-interest income | 25,739 | 25,466 | 68,743 | 80,007 |
Non-interest expense | 88,144 | 90,599 | 254,484 | 252,428 |
Income before provision for income taxes | 62,631 | 51,872 | 163,483 | 225,900 |
Provision for income taxes | 11,747 | 9,982 | 30,573 | 45,417 |
Net income | 50,884 | 41,890 | 132,910 | 180,483 |
Preferred stock dividends | 2,531 | 2,531 | 7,594 | 7,594 |
Net income available to common shareholders | 48,353 | 39,359 | 125,316 | 172,889 |
Trust and Investment Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest income | 6,517 | 7,289 | 20,879 | 22,069 |
Non-interest expense | 3,797 | 4,102 | 12,027 | 12,412 |
Income before provision for income taxes | 2,720 | 3,187 | 8,852 | 9,657 |
Provision for income taxes | 571 | 669 | 1,859 | 2,028 |
Net income | 2,149 | 2,518 | 6,993 | 7,629 |
Net income available to common shareholders | $ 2,149 | $ 2,518 | $ 6,993 | $ 7,629 |