Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 18, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | WSBC | ||
Entity Registrant Name | WESBANCO INC | ||
Entity Central Index Key | 203,596 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 38,342,535 | ||
Entity Public Float | $ 1,225,414,314 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks, including interest bearing amounts of $10,978 and $8,405, respectively | $ 86,685 | $ 94,002 |
Securities: | ||
Available-for-sale, at fair value | 1,409,520 | 917,424 |
Held-to-maturity (fair values of $1,038,207 and $619,617, respectively) | 1,012,930 | 593,670 |
Total securities | 2,422,450 | 1,511,094 |
Loans held for sale | 7,899 | 5,865 |
Portfolio loans, net of unearned income | 5,065,842 | 4,086,766 |
Allowance for loan losses | (41,710) | (44,654) |
Net portfolio loans | 5,024,132 | 4,042,112 |
Premises and equipment, net | 112,203 | 93,135 |
Accrued interest receivable | 25,759 | 18,481 |
Goodwill and other intangible assets, net | 490,888 | 319,506 |
Bank-owned life insurance | 150,980 | 123,298 |
Other assets | 149,302 | 89,072 |
Total Assets | 8,470,298 | 6,296,565 |
Deposits: | ||
Non-interest bearing demand | 1,311,455 | 1,061,075 |
Interest bearing demand | 1,152,071 | 885,037 |
Money market | 967,561 | 954,957 |
Savings deposits | 1,077,374 | 842,818 |
Certificates of deposit | 1,557,838 | 1,305,096 |
Total deposits | 6,066,299 | 5,048,983 |
Federal Home Loan Bank borrowings | 1,041,750 | 223,126 |
Other short-term borrowings | 81,356 | 80,690 |
Junior subordinated debt owed to unconsolidated subsidiary trusts | 106,196 | 106,176 |
Total borrowings | 1,229,302 | 409,992 |
Accrued interest payable | 1,715 | 1,620 |
Other liabilities | 50,850 | 47,780 |
Total Liabilities | $ 7,348,166 | $ 5,508,375 |
SHAREHOLDERS' EQUITY | ||
Preferred Stock, no par value; 1,000,000 shares authorized; none outstanding | ||
Common stock, $2.0833 par value; 100,000,000 and 50,000,000 shares authorized in 2015 and 2014, respectively; 38,546,042 and 29,367,511 shares issued in 2015 and 2014, respectively; 38,459,635 and 29,298,188 shares outstanding in 2015 and 2014, respectively | $ 80,304 | $ 61,182 |
Capital surplus | 516,294 | 244,661 |
Retained earnings | 549,921 | 504,578 |
Treasury stock (86,407 shares and 69,323 shares in 2015 and 2014, respectively, at cost) | (2,640) | (2,151) |
Accumulated other comprehensive loss | (20,954) | (18,825) |
Deferred benefits for directors | (793) | (1,255) |
Total Shareholders' Equity | 1,122,132 | 788,190 |
Total Liabilities and Shareholders' Equity | $ 8,470,298 | $ 6,296,565 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Interest bearing deposits, banks | $ 10,978 | $ 8,405 |
Held-to-maturity securities, fair values | $ 1,038,207 | $ 619,617 |
Preferred stock, no par value | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.0833 | $ 2.0833 |
Common stock, shares authorized | 100,000,000 | 50,000,000 |
Common stock, shares issued | 38,546,042 | 29,367,511 |
Common stock, shares outstanding | 38,459,635 | 29,298,188 |
Treasury stock, shares | 86,407 | 69,323 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
INTEREST AND DIVIDEND INCOME | |||
Loans, including fees | $ 203,993 | $ 172,182 | $ 175,323 |
Interest and dividends on securities: | |||
Taxable | 39,314 | 29,233 | 29,193 |
Tax-exempt | 16,764 | 13,589 | 13,128 |
Total interest and dividends on securities | 56,078 | 42,822 | 42,321 |
Other interest income | 1,641 | 987 | 246 |
Total interest and dividend income | 261,712 | 215,991 | 217,890 |
INTEREST EXPENSE | |||
Interest bearing demand deposits | 1,943 | 1,568 | 1,415 |
Money market deposits | 1,914 | 1,877 | 1,462 |
Savings deposits | 640 | 532 | 525 |
Certificates of deposit | 11,033 | 13,286 | 22,010 |
Total interest expense on deposits | 15,530 | 17,263 | 25,412 |
Federal Home Loan Bank borrowings | 5,510 | 968 | 1,151 |
Other short-term borrowings | 370 | 1,333 | 2,525 |
Junior subordinated debt owed to unconsolidated subsidiary trusts | 3,315 | 3,199 | 3,315 |
Total interest expense | 24,725 | 22,763 | 32,403 |
NET INTEREST INCOME | 236,987 | 193,228 | 185,487 |
Provision for credit losses | 8,353 | 6,405 | 9,086 |
Net interest income after provision for credit losses | 228,634 | 186,823 | 176,401 |
NON-INTEREST INCOME | |||
Trust fees | 21,900 | 21,069 | 19,577 |
Service charges on deposits | 16,743 | 16,135 | 17,925 |
Electronic banking fees | 14,361 | 12,708 | 12,198 |
Net securities brokerage revenue | 7,692 | 6,922 | 6,248 |
Bank-owned life insurance | 4,863 | 4,614 | 4,664 |
Net gains on sales of mortgage loans | 2,071 | 1,604 | 2,614 |
Net securities gains | 948 | 903 | 684 |
Net gain / (loss) on other real estate owned and other assets | 356 | (1,006) | (81) |
Other income | 5,532 | 5,555 | 5,456 |
Total non-interest income | 74,466 | 68,504 | 69,285 |
NON-INTEREST EXPENSE | |||
Salaries and wages | 77,340 | 67,408 | 65,431 |
Employee benefits | 26,896 | 21,518 | 23,255 |
Net occupancy | 13,635 | 12,122 | 11,809 |
Equipment | 13,194 | 11,542 | 10,669 |
Marketing | 5,646 | 5,242 | 5,174 |
FDIC insurance | 4,107 | 3,376 | 3,725 |
Amortization of intangible assets | 3,136 | 1,920 | 2,288 |
Restructuring and merger-related expense | 11,082 | 1,309 | 1,310 |
Other operating expenses | 38,887 | 37,196 | 37,337 |
Total non-interest expense | 193,923 | 161,633 | 160,998 |
Income before provision for income taxes | 109,177 | 93,694 | 84,688 |
Provision for income taxes | 28,415 | 23,720 | 20,763 |
NET INCOME | $ 80,762 | $ 69,974 | $ 63,925 |
EARNINGS PER COMMON SHARE | |||
Basic | $ 2.15 | $ 2.39 | $ 2.18 |
Diluted | $ 2.15 | $ 2.39 | $ 2.18 |
AVERAGE COMMON SHARES OUTSTANDING | |||
Basic | 37,488,331 | 29,249,499 | 29,270,922 |
Diluted | 37,547,127 | 29,333,876 | 29,344,683 |
DIVIDENDS DECLARED PER COMMON SHARE | $ 0.92 | $ 0.88 | $ 0.78 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 80,762 | $ 69,974 | $ 63,925 |
Securities available-for-sale: | |||
Net change in unrealized (losses) gains on securities available-for-sale | (10,552) | 15,242 | (30,288) |
Related income tax benefit (expense) | 3,875 | (5,604) | 11,186 |
Net securities gains reclassified into earnings | (596) | (981) | (89) |
Related income tax expense | 219 | 361 | 33 |
Net effect on other comprehensive income for the period | (7,054) | 9,018 | (19,158) |
Securities held-to-maturity: | |||
Amortization of unrealized gain transferred from available-for-sale | (494) | (472) | (1,029) |
Related income tax expense | 182 | 173 | 383 |
Net effect on other comprehensive income for the period | (312) | (299) | (646) |
Defined benefit pension plan: | |||
Amortization of net loss and prior service costs | 3,205 | 1,516 | 3,579 |
Related income tax benefit | (1,201) | (558) | (1,368) |
Recognition of unrealized gain (loss) | 5,106 | (24,934) | 17,751 |
Related income tax (expense) benefit | (1,873) | 9,166 | (6,527) |
Net effect on other comprehensive income for the period | 5,237 | (14,810) | 13,435 |
Total other comprehensive loss | (2,129) | (6,091) | (6,369) |
Comprehensive income | $ 78,633 | $ 63,883 | $ 57,556 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Deferred Benefits for Directors [Member] |
Beginning Balance at Dec. 31, 2012 | $ 714,184 | $ 60,863 | $ 241,672 | $ 419,246 | $ (6,365) | $ (1,232) | |
Beginning Balance, shares at Dec. 31, 2012 | 29,214,660 | ||||||
Net income | 63,925 | 63,925 | |||||
Other comprehensive loss | (6,369) | (6,369) | |||||
Comprehensive income | 57,556 | ||||||
Common dividends declared ($0.78, $0.88, and $0.92 per share for year ended December 31, 2013, 2014, and 2015 respectively) | (22,820) | (22,820) | |||||
Stock options exercised | 2,869 | $ 249 | 2,568 | $ 52 | |||
Stock options exercised, shares | 121,424 | ||||||
Restricted stock granted | $ 79 | (348) | 269 | ||||
Restricted stock granted, shares | 48,750 | ||||||
Treasury shares acquired | (6,210) | 80 | (6,290) | ||||
Treasury shares acquired, shares | (204,926) | ||||||
Adjustment to shares issued in acquisition | (104) | $ (9) | (95) | ||||
Adjustment to shares issued in acquisition, shares | (4,672) | ||||||
Stock compensation expense | 1,120 | 1,120 | |||||
Deferred benefits for directors-net | (23) | 23 | |||||
Ending Balance at Dec. 31, 2013 | 746,595 | $ 61,182 | 244,974 | 460,351 | (5,969) | (12,734) | (1,209) |
Ending Balance, shares at Dec. 31, 2013 | 29,175,236 | ||||||
Net income | 69,974 | 69,974 | |||||
Other comprehensive loss | (6,091) | (6,091) | |||||
Comprehensive income | 63,883 | ||||||
Common dividends declared ($0.78, $0.88, and $0.92 per share for year ended December 31, 2013, 2014, and 2015 respectively) | (25,747) | (25,747) | |||||
Stock options exercised | 2,167 | (399) | 2,566 | ||||
Stock options exercised, shares | 82,656 | ||||||
Restricted stock granted | (1,321) | 1,321 | |||||
Restricted stock granted, shares | 42,554 | ||||||
Treasury shares acquired | (20) | 49 | (69) | ||||
Treasury shares acquired, shares | (2,258) | ||||||
Stock compensation expense | 1,312 | 1,312 | |||||
Deferred benefits for directors-net | 46 | (46) | |||||
Ending Balance at Dec. 31, 2014 | 788,190 | $ 61,182 | 244,661 | 504,578 | (2,151) | (18,825) | (1,255) |
Ending Balance, shares at Dec. 31, 2014 | 29,298,188 | ||||||
Net income | 80,762 | 80,762 | |||||
Other comprehensive loss | (2,129) | (2,129) | |||||
Comprehensive income | 78,633 | ||||||
Common dividends declared ($0.78, $0.88, and $0.92 per share for year ended December 31, 2013, 2014, and 2015 respectively) | (35,419) | (35,419) | |||||
Stock options exercised | 1,601 | (324) | 1,925 | ||||
Shares issued for acquisition | $ 293,629 | $ 19,122 | 274,507 | ||||
Stock options exercised, shares | 60,275 | 60,275 | |||||
Shares issued for acquisition, shares | 9,178,531 | ||||||
Restricted stock granted | (1,558) | 1,558 | |||||
Restricted stock granted, shares | 49,550 | ||||||
Treasury shares acquired | $ (3,921) | 51 | (3,972) | ||||
Treasury shares acquired, shares | (126,909) | ||||||
Repurchase of stock warrant | (2,247) | (2,247) | |||||
Stock compensation expense | 1,666 | 1,666 | |||||
Deferred benefits for directors-net | (462) | 462 | |||||
Ending Balance at Dec. 31, 2015 | $ 1,122,132 | $ 80,304 | $ 516,294 | $ 549,921 | $ (2,640) | $ (20,954) | $ (793) |
Ending Balance, shares at Dec. 31, 2015 | 38,459,635 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Common dividends declared, per share | $ 0.92 | $ 0.88 | $ 0.78 |
Retained Earnings [Member] | |||
Common dividends declared, per share | $ 0.92 | $ 0.88 | $ 0.78 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||
Net income | $ 80,762 | $ 69,974 | $ 63,925 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization of premises and equipment | 8,122 | 7,386 | 6,978 |
Other net amortization | 6,460 | 1,742 | 64 |
Provision for credit losses | 8,353 | 6,405 | 9,086 |
Net securities gains | (948) | (903) | (684) |
Net gains on sales of mortgage loans | (2,071) | (1,604) | (2,614) |
Decrease in deferred income tax assets | 10,665 | 8,690 | 6,527 |
Increase in cash surrender value of bank-owned life insurance-net | (4,863) | (4,614) | (4,664) |
Contribution to pension plan | (7,500) | (7,500) | (5,000) |
Loans originated for sale | (135,892) | (102,321) | (132,039) |
Proceeds from the sale of loans originated for sale | 135,928 | 103,916 | 145,474 |
Net change in: other assets and accrued interest receivable | (4,293) | 10,205 | 26,371 |
Net change in: other liabilities and accrued interest payable | (7,988) | (1,896) | (4,195) |
Other-net | 1,914 | 5,328 | 2,251 |
Net cash provided by operating activities | 88,649 | 94,808 | 111,480 |
INVESTING ACTIVITIES | |||
Net increase in loans held for investment | (293,306) | (199,760) | (220,562) |
Securities available-for-sale: | |||
Proceeds from sales | 635,609 | 16,249 | 9,265 |
Proceeds from maturities, prepayments and calls | 319,370 | 214,934 | 241,023 |
Purchases of securities | (526,765) | (201,272) | (196,514) |
Securities held-to-maturity: | |||
Proceeds from maturities, prepayments and calls | 75,295 | 47,820 | 86,512 |
Purchases of securities | (390,471) | (45,955) | (85,838) |
Cash paid to acquire a business, net of cash acquired | (28,551) | ||
Proceeds from bank-owned life insurance | 7,803 | 2,352 | 2,954 |
Purchases of premises and equipment-net | (9,575) | (7,374) | (8,845) |
Sale of portfolio loans-net | 7,506 | ||
Net cash (used in) provided by investing activities | (210,591) | (173,006) | (164,499) |
FINANCING ACTIVITIES | |||
(Decrease) increase in deposits | (233,684) | (12,869) | 119,359 |
Proceeds from Federal Home Loan Bank borrowings | 941,910 | 200,532 | |
Repayment of Federal Home Loan Bank borrowings | (515,388) | (16,775) | (70,850) |
Decrease in other short-term borrowings | (4,334) | (51,021) | (11,938) |
(Decrease) increase in federal funds purchased | (20,000) | 20,000 | |
Repayment of junior subordinated debt | (36,083) | (7,732) | |
Repurchase of common stock warrant | (2,247) | ||
Dividends paid to common shareholders | (33,007) | (25,136) | (22,243) |
Issuance of common stock | 2,539 | ||
Treasury shares (purchased) sold-net | (2,542) | 1,918 | (6,170) |
Net cash provided by financing activities | 114,625 | 76,649 | 22,965 |
Net decrease in cash and cash equivalents | (7,317) | (1,549) | (30,054) |
Cash and cash equivalents at beginning of the year | 94,002 | 95,551 | 125,605 |
Cash and cash equivalents at end of the year | 86,685 | 94,002 | 95,551 |
SUPPLEMENTAL DISCLOSURES | |||
Interest paid on deposits and other borrowings | 27,969 | 24,521 | 36,309 |
Income taxes paid | 15,855 | 11,706 | 18,050 |
Transfers of loans to other real estate owned | 1,501 | $ 2,464 | 2,251 |
Transfers of portfolio loans to loans held for sale | $ 11,245 | ||
Non-cash transactions related to ESB acquisition | $ 301,933 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations— Use of Estimates— Principles of Consolidation— WesBanco determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. A voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make financial and operating decisions. WesBanco consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%) of the voting interest. Variable Interest Entities A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE. A VIE often holds financial assets, including loans or receivables, real estate or other property. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. WesBanco has eight wholly-owned trust subsidiaries (collectively, the “Trusts”), for which it does not absorb a majority of expected losses or receive a majority of the expected residual returns. Accordingly, the Trusts and their net assets are not included in the Consolidated Financial Statements. However, the junior subordinated deferrable interest debentures issued by WesBanco to the Trusts (refer to Note 11, “Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts”) and the common stock issued by the Trusts is included in the Consolidated Balance Sheets. WesBanco also owns non-controlling variable interests in certain limited partnerships for which it does not absorb a majority of expected losses or receive a majority of expected residual returns which are not included in the Consolidated Financial Statements. Refer to Note 8, “Investments in Limited Partnerships” for further detail. Revenue Recognition— Cash and Cash Equivalents— Securities— Available-for-sale securities: Held-to-maturity securities: Cost method investments: Securities acquired in acquisitions are recorded at fair value with the premium or discount derived from the fair market value adjustment recognized into interest income on a level yield basis over the remaining life of the security. Gains and losses: Amortization and accretion: Other-than-temporary impairment losses: Loans and Loans Held for Sale— Loans acquired in acquisitions are recorded at fair value with no carryover of related allowance for credit losses. The premium or discount derived from the fair market value adjustment is recognized into interest income using a level yield method over the remaining expected life of the loan. Refer to the “Acquired Loans” policy below for additional detail. Loan origination fees and direct costs are deferred and accreted or amortized into interest income, as an adjustment to the yield, over the life of the loan using the level yield method. When a loan is paid off, the remaining unaccreted or unamortized net origination fees or costs are immediately recognized into income. Loans are generally placed on non-accrual when they are 90 days past due, unless the loan is well-secured and in the process of collection. Loans may be returned to accrual status when a borrower has resumed paying principal and interest for a sustained period of at least six months and the Bank is reasonably assured of collecting the remaining contractual principal and interest. Loans are returned to accrual status at an amount equal to the principal balance of the loan at the time of non-accrual status less any payments applied to principal during the non-accrual period. Loans are reported as a troubled debt restructuring when WesBanco for economic or legal reasons related to a borrower’s financial difficulties grants a concession to the borrower that it would not otherwise consider. Refer to the “Troubled Debt Restructuring” policy below for additional detail. A loan is considered impaired, based on current information and events, if it is probable that WesBanco will be unable to collect the payments of principal and interest when due according to the contractual terms of the loan agreement. Impaired loans include all non-accrual loans and troubled debt restructurings. WesBanco recognizes interest income on non-accrual loans on the cash basis only if recovery of principal is reasonably assured. Consumer loans are charged down to the net realizable value at 120 days past due for closed-end loans and 180 days past due for open-end revolving lines of credit. Residential real estate loans are charged down to the net realizable value of the collateral at 180 days past due. Commercial loans are charged down to the net realizable value when it is determined that WesBanco will be unable to collect the principal amount in full. Loans are reclassified to other assets at the net realizable value when foreclosure or repossession of the collateral occurs. Refer to the “Other Real Estate Owned and Repossessed Assets” policy below for additional detail. Acquired Loans Loans acquired with deteriorated credit quality are accounted for in accordance with ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (ASC 310-30) if, at acquisition, the loans have evidence of credit quality deterioration since origination and it is probable that all contractually required payments will not be collected. At acquisition, WesBanco considers several factors as indicators that an acquired loan has evidence of deterioration in credit quality. These factors include loans 90 days or more past due, loans with an internal risk grade of substandard or below, loans classified as non-accrual by the acquired institution, and loans that have been previously modified in a troubled debt restructuring. Under the ASC 310-30 model, the excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield and is the interest component of expected cash flow. The accretable yield is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonably estimated. If the timing or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition is used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which WesBanco does not expect to collect. Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized in interest income on a prospective basis over the loan’s remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, Nonrefundable Fees and Other Costs (ASC 310-20), whereby the premium or discount derived from the fair market value adjustment, on a loan-by-loan or pooled basis, is recognized into interest income on a level yield basis over the remaining expected life of the loan or pool. Allowance for Credit Losses— The evaluation includes an assessment of quantitative factors such as actual loss experience within each category of loans and testing of certain commercial loans for impairment. The evaluation also considers qualitative factors such as economic trends and conditions, which includes levels of unemployment, real estate values and the impact on specific industries and geographical markets, changes in lending policies and underwriting standards, delinquency and other credit quality trends, concentrations of credit risk, if any, the results of internal loan reviews and examinations by bank regulatory agencies, the volatility of historical loss rates, the velocity of changes in historical loss rates, and regulatory guidance pertaining to the allowance for credit losses. Management relies on observable data from internal and external sources to the extent it is available to evaluate each of these factors and adjusts the actual historical loss rates to reflect the impact these factors may have on probable losses in the portfolio. Commercial real estate and commercial and industrial loans greater than $1 million that are reported as non-accrual or as a troubled debt restructuring are tested individually for impairment. Specific reserves are established when appropriate for such loans based on the present value of expected future cash flows of the loan or the estimated realizable value of the collateral, if any. General reserves are established for loans that are not individually tested for impairment based on historical loss rates adjusted for the impact of the qualitative factors discussed above. Historical loss rates for commercial real estate and commercial and industrial loans are determined for each internal risk grade or group of pass grades using a migration analysis. Historical loss rates for commercial real estate land and construction, residential real estate, home equity and consumer loans that are not risk graded are determined for the total of each category of loans. Historical loss rates for deposit account overdrafts are based on actual losses in relation to average overdrafts for the period. Management may also adjust its assumptions to account for differences between estimated and actual incurred losses from period to period. The variability of management’s assumptions could alter the level of the allowance for credit losses and may have a material impact on future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced; however, there have been no material substantive changes compared to prior periods. Troubled Debt Restructurings (“TDR”) When determining whether a debtor is experiencing financial difficulties, consideration is given to any known default on any of its debt or whether it is probable that the debtor would be in payment default in the foreseeable future without the modification. Other indicators of financial difficulty include whether the debtor has declared or is in the process of declaring bankruptcy, the debtor’s ability to continue as a going concern, or the debtor’s projected cash flow to service its debt (including principal & interest) in accordance with the contractual terms for the foreseeable future, without a modification. If the payment of principal at original maturity is primarily dependent on the value of collateral, the current value of that collateral is considered in determining whether the principal will be paid. The restructuring of a loan does not have a material effect on the allowance or provision for credit losses as the internal risk grade of a loan has more influence on the allowance than the classification of a loan as a TDR. The internal risk rating is the primary factor for establishing the allowance for commercial loans, including commercial real estate except for loans that are individually evaluated for impairment, in which case a specific reserve is established pursuant to GAAP. Portfolio segment loss history is the primary factor for establishing the allowance for residential real estate, home equity and consumer loans. Non-accrual loans that are restructured remain on non-accrual, but may move to accrual status after they have performed according to the restructured terms for a period of time. TDRs on accrual status generally remain on accrual as long as they continue to perform in accordance with their modified terms. TDRs may also be placed on non-accrual if they do not perform in accordance with the restructured terms. Loans may be removed from TDR status after they have performed according to the renegotiated terms for a period of time if the interest rate under the modified terms is at or above market, or if the loan returns to its original terms. Mortgage Servicing Rights— Premises and Equipment— Other Real Estate Owned and Repossessed Assets— Goodwill and Other Intangible Assets— Goodwill is not amortized but is evaluated for impairment annually, or more often if events or circumstances indicate it may be impaired. Finite-lived intangible assets, which consist primarily of core deposit and customer list intangibles (long-term customer-relationship intangible assets) are amortized using straight-line and accelerated methods over their weighted-average estimated useful lives, ranging from ten to sixteen years in total, and are tested for impairment whenever events or circumstances indicate that their carrying amount may not be recoverable. Non-compete agreements are recognized in other assets on the balance sheet and are amortized on a straight line basis over the life of the respective agreements, ranging from one to four years. Goodwill is evaluated for impairment by either assessing qualitative factors to determine whether it is necessary to perform the two-step goodwill impairment test, or WesBanco may elect to perform the two-step goodwill impairment test. Under the qualitative assessment, WesBanco assesses qualitative factors to determine whether it is more likely than not that the fair value of its reporting units are less than their carrying amounts, including goodwill. If it is more likely than not, the two-step goodwill impairment test is used to identify potential goodwill impairment and measure the amount of a goodwill impairment loss to be recognized, if any. In the first step, the estimated fair value of each reporting unit is compared to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, the goodwill of that reporting unit is not considered impaired, and no impairment loss is recognized. However, if the carrying amount of the reporting unit exceeds its fair value, step two, which involves comparing the implied fair value of goodwill to its carrying value, is completed and to the extent that the carrying value of goodwill exceeds its implied fair value, an impairment loss is recognized. Intangible assets with finite useful lives are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of an intangible asset with a finite useful life is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the fair value of the asset. WesBanco does not have any indefinite-lived intangible assets. Bank-Owned Life Insurance— Interest Rate Lock Commitments— Income Taxes— Fair Value— Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques where all significant assumptions are observable, either directly or indirectly, in the market; Level 3—Valuation is generated from model-based techniques where all significant assumptions are not observable, either directly or indirectly, in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques may include use of discounted cash flow models and similar techniques. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Earnings Per Common Share— Trust Assets— Stock-Based Compensation Defined Benefit Pension Plan Recent Accounting Pronouncements In September, 2015, the FASB issued ASU 2015-16 which eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amounts, including the effect on earnings of any amounts they would have recorded in previous periods if the accounting had been completed at the acquisition date. The acquirer still must disclose the amounts and reasons for adjustments to the provisional amounts. The acquirer also must disclose, by line item, the amount of the adjustment reflected in the current-period income statement that would have been recognized in previous periods if the adjustment to provisional amounts had been recognized as of the acquisition date. Alternatively, an acquirer may present those amounts separately on the face of the income statement. Public business entities must apply the new requirements for fiscal years beginning after December 15, 2015, including interim periods with those fiscal years. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In May, 2015, the FASB issued ASU 2015-07 related to disclosures for investments in certain entities that calculate net asset value (NAV) per share (or its equivalent). This update removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient and modifies certain disclosure requirements. The update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015, and requires retrospective adoption. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In April, 2015, the FASB issued ASU 2015-05 that provides guidance on when to account for a cloud computing arrangement as a software license. The guidance applies only to internal-use software that a customer obtains access to in a hosting arrangement if both of the following criteria are met: (1) The customer has the contractual right to take possession of the software at any time during the hosting period without significant penalty, (2) it is feasible for the customer to either run the software on its own hardware or contract with another party unrelated to the vendor to host the software. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In February, 2015, the FASB issued ASU 2015-02 that revised the consolidation model, requiring reporting entities to reevaluate whether they should consolidate certain legal entities under the revised model. The amendments in this update modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, and eliminate the presumption that a general partner should consolidate and affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The pronouncement also provides for a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In August, 2014, the FASB issued ASU 2014-14 related to the classification of certain government-guaranteed mortgage loans upon foreclosure. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based upon the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014 and may be adopted under either a modified retrospective transition method or a prospective transition method. However, the same method of transition as elected under ASU 2014-04 must be applied. While early adoption was permitted, WesBanco elected to adopt the ASU in the first quarter of 2015, which was the first interim period after December 31, 2014. The adoption of this pronouncement did not have a material impact on WesBanco’s Consolidated Financial Statements. In June, 2014, the FASB issued ASU 2014-11 related to repurchase-to-maturity transactions, repurchase financing and disclosures. The pronouncement changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The pronouncement also requires two new disclosures. The first disclosure requires an entity to disclose information on transfers accounted for as sales in transactions that are economically similar to repurchase agreements. The second disclosure provides increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. WesBanco adopted the ASU in the first quarter of 2015. The adoption of this pronouncement did not have a material impact on WesBanco’s Consolidated Financial Statements. In May, 2014, the FASB issued ASU 2014-09 related to the recognition of revenue from contracts with customers. The new revenue pronouncement creates a single source of revenue guidance for all companies in all industries and is more principles-based than current revenue guidance. The pronouncement provides a five-step model for a company to recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The five steps are, (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the separate performance obligations and (5) recognize revenue when each performance obligation is satisfied. The pronouncement was originally effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016 using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Early adoption was not permitted. On July 9, 2015, the FASB approved a one-year deferral of the effective date of the update. The update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. Early adoption is now permitted as of the original effective date for interim and annual reporting periods in fiscal years beginning after December 15, 2016. WesBanco is currently evaluating the impact of the adoption of this pronouncement on its Consolidated Financial Statements. |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | NOTE 2. MERGERS AND ACQUISITIONS On February 10, 2015, WesBanco completed its acquisition of ESB Financial Corporation (“ESB”), and its wholly-owned banking subsidiary, ESB Bank (“ESB Bank”), a Pennsylvania-chartered stock savings bank headquartered in Ellwood City, Pennsylvania. The transaction expanded WesBanco’s franchise in the Pittsburgh region of western Pennsylvania from 16 to 38 offices. On the acquisition date, ESB had $1.9 billion in assets, excluding goodwill, which included $701.0 million in loans, and $486.9 million in securities. The ESB acquisition was valued at $339.0 million, based on WesBanco’s closing stock price on February 10, 2015 of $32.00, and resulted in WesBanco issuing 9,178,531 shares of its common stock and $45.0 million in cash and other assets in exchange for ESB common stock. The assets and liabilities of ESB were recorded on WesBanco’s balance sheet at fair value as of February 10, 2015, the acquisition date, and ESB’s results of operations have been included in WesBanco’s Consolidated Statements of Income since that date. ESB was merged into WesBanco and ESB Bank was merged into WesBanco Bank on February 10, 2015. WesBanco recorded $168.5 million in goodwill and $5.3 million in core deposit intangibles in its community banking segment, representing the principal change in goodwill and intangibles from December 31, 2014. None of the goodwill is deductible for income tax purposes as the acquisition is accounted for as a tax-free exchange for tax purposes. As a result of the full integration of the operations of ESB, it is not practicable to determine the proforma results or revenue and net income included in WesBanco’s operating results relating to ESB since the date of acquisition because ESB has been fully integrated into WesBanco’s operations, and the operating results of ESB can therefore not be separately identified. For the year ended December 31, 2015, WesBanco recorded merger-related expenses of $11.1 million associated with the ESB acquisition. In 2014 WesBanco recognized $1.3 million in merger-related expenses in connection with the ESB acquisition. The purchase price of the ESB acquisition and resulting goodwill is summarized as follows: (in thousands) February 10, 2015 Purchase Price: Fair value of WesBanco shares issued (net of equity issuance costs of $0.1 million) $ 293,933 Cash consideration for outstanding ESB shares, options and restricted stock 37,036 Settlement of pre-existing loan to ESB 8,000 Total purchase price $ 338,969 Fair value of: Tangible assets acquired $ 1,859,129 Core deposit and other intangible assets acquired 5,346 Liabilities assumed (1,702,444 ) Net cash received in the acquisition 8,485 Fair value of net assets acquired 170,516 Goodwill recognized $ 168,453 The following table presents the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition. (in thousands) February 10, 2015 Assets Cash and due from banks $ 8,485 Securities 486,891 Loans 700,964 Goodwill and other intangible assets 173,798 Accrued income and other assets (1) 671,275 Total Assets $ 2,041,413 Liabilities Deposits $ 1,254,091 Borrowings 433,454 Accrued expenses and other liabilities 14,899 Total liabilities 1,702,444 Purchase price $ 338,969 (1) Includes receivables of $560.7 million from the sale of available-for-sale securities prior to the acquisition date. |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 3. EARNINGS PER COMMON SHARE Earnings per common share are calculated as follows: For the years ended December 31, (in thousands, except shares and per share amounts) 2015 2014 2013 Numerator for both basic and diluted earnings per common share: Net income $ 80,762 $ 69,974 $ 63,925 Denominator: Total average basic common shares outstanding 37,488,331 29,249,499 29,270,922 Effect of dilutive stock options and warrant 58,796 84,377 73,761 Total diluted average common shares outstanding 37,547,127 29,333,876 29,344,683 Earnings per common share—basic $ 2.15 $ 2.39 $ 2.18 Earnngs per common share—diluted 2.15 2.39 2.18 All stock options were included in the computation of diluted earnings per share for the years ended December 31, 2015 and 2014. Stock options representing 42,701 shares were not included in the computation of diluted earnings per share for the year ended December 31, 2013 because to do so would have been anti-dilutive. On February 10, 2015, WesBanco issued approximately 9,178,531 shares to complete its acquisition of ESB. These shares are included in total and average shares outstanding beginning on that date. For additional information relating to the ESB acquisition, refer to Note 2, “Mergers and Acquisitions.” |
Securities
Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 4. SECURITIES The following table shows the amortized cost and fair values of available-for-sale and held-to-maturity securities: December 31, 2015 December 31, 2014 (in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale Obligations of government agencies $ 82,725 $ 1,183 $ (403 ) $ 83,505 $ 86,964 $ 1,087 $ (315 ) $ 87,736 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,188,256 1,720 (13,896 ) 1,176,080 703,535 4,336 (6,758 ) 701,113 Obligations of states and political subdivisions 76,106 4,205 (46 ) 80,265 86,073 5,365 (5 ) 91,433 Corporate debt securities 58,745 181 (333 ) 58,593 25,974 141 (119 ) 25,996 Total debt securities $ 1,405,832 $ 7,289 $ (14,678 ) $ 1,398,443 $ 902,546 $ 10,929 $ (7,197 ) $ 906,278 Equity securities 10,263 816 (2 ) 11,077 10,304 842 — 11,146 Total available-for-sale securities $ 1,416,095 $ 8,105 $ (14,680 ) $ 1,409,520 $ 912,850 $ 11,771 $ (7,197 ) $ 917,424 Held-to-maturity Residential mortgage-backed securities and collateralized mortgage obligations of government agencies $ 216,419 $ 1,922 $ (2,014 ) $ 216,327 $ 79,004 $ 3,262 $ (246 ) $ 82,020 Obligations of states and political subdivisions 762,039 26,121 (726 ) 787,434 507,927 23,917 (1,043 ) 530,801 Corporate debt securities 34,472 237 (263 ) 34,446 6,739 106 (49 ) 6,796 Total held-to-maturity securities $ 1,012,930 $ 28,280 $ (3,003 ) $ 1,038,207 $ 593,670 $ 27,285 $ (1,338 ) $ 619,617 Total securities $ 2,429,025 $ 36,385 $ (17,683 ) $ 2,447,727 $ 1,506,520 $ 39,056 $ (8,535 ) $ 1,537,041 At December 31, 2015 and 2014, there were no holdings of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of WesBanco’s shareholders’ equity. The following table presents the fair value of available-for-sale and held-to-maturity securities by contractual maturity at December 31, 2015. In many instances, the issuers may have the right to call or prepay obligations without penalty prior to the contractual maturity date. December 31, 2015 (in thousands) One Year One to Five to After Ten Years Mortgage-backed Total Available-for-sale Obligations of government agencies $ — $ 16,865 $ 38,382 $ 28,258 $ — $ 83,505 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) — — — — 1,176,080 1,176,080 Obligations of states and political subdivisions 7,684 21,210 38,302 13,069 — 80,265 Corporate debt securities 13,252 29,369 14,041 1,931 — 58,593 Equity securities (2) — — — — 11,077 11,077 Total available-for-sale securities $ 20,936 $ 67,444 $ 90,725 $ 43,258 $ 1,187,157 $ 1,409,520 Held-to-maturity (3) Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) $ — $ — $ — $ — $ 216,327 $ 216,327 Obligations of states and political subdivisions 1,706 39,229 367,308 379,191 — 787,434 Corporate debt securities — 888 33,558 — — 34,446 Total held-to-maturity securities $ 1,706 $ 40,117 $ 400,866 $ 379,191 $ 216,327 $ 1,038,207 Total securities $ 22,642 $ 107,561 $ 491,591 $ 422,449 $ 1,403,484 $ 2,447,727 (1) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. (2) Equity securities, which have no stated maturity, are not assigned a maturity category. (3) The held-to-maturity portfolio is carried at an amortized cost of $1.0 billion. Securities with aggregate fair values of $1.0 billion and $706.5 million at December 31, 2015 and 2014, respectively, were pledged as security for public and trust funds, and securities sold under agreements to repurchase. Proceeds from the sale of available-for-sale securities were $635.6 million, $16.2 million and $9.3 million for the years ended December 31, 2015, 2014 and 2013, respectively. Net unrealized (losses) gains on available-for-sale securities included in accumulated other comprehensive income net of tax, as of December 31, 2015, 2014 and 2013 were ($4.2) million, $2.9 million and ($6.1) million, respectively. The following table presents the gross realized gains and losses on sales and calls of securities for the years ended December 31, 2015, 2014 and 2013, respectively. For the Years Ended (in thousands) 2015 2014 2013 Gross realized gains $ 1,029 $ 1,131 $ 922 Gross realized losses (81 ) (228 ) (238 ) Net realized gains $ 948 $ 903 $ 684 The following tables provide information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of December 31, 2015 and 2014: December 31, 2015 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized # of Fair Unrealized # of Fair Value Unrealized # of Obligations of government agencies $ 49,826 $ (403 ) 11 $ — $ — — $ 49,826 $ (403 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,003,397 (10,981 ) 187 146,182 (4,929 ) 31 1,149,579 (15,910 ) 218 Obligations of states and political subdivisions 58,705 (400 ) 76 23,691 (372 ) 29 82,396 (772 ) 105 Corporate debt securities 41,326 (541 ) 12 1,931 (55 ) 1 43,257 (596 ) 13 Equity securities 1,378 (2 ) 1 — — — 1,378 (2 ) 1 Total temporarily impaired securities $ 1,154,632 $ (12,327 ) 287 $ 171,804 $ (5,356 ) 61 $ 1,326,436 $ (17,683 ) 348 December 31, 2014 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized # of Fair Unrealized # of Fair Value Unrealized # of Obligations of government agencies $ 19,362 $ (77) 5 $ 19,757 $ (238 ) 4 $ 39,119 $ (315) 9 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 78,786 (386 ) 19 240,055 (6,618 ) 43 318,841 (7,004 ) 62 Obligations of states and political subdivisions 12,615 (96 ) 15 61,548 (952 ) 93 74,163 (1,048 ) 108 Corporate debt securities 2,969 (31 ) 1 4,573 (137 ) 2 7,542 (168 ) 3 Total temporarily impaired securities $ 113,732 $ (590 ) 40 $ 325,933 $ (7,945 ) 142 $ 439,665 $ (8,535 ) 182 Unrealized losses on debt securities in the tables 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 there are no debt securities rated below 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, and therefore, management believes the unrealized losses detailed above are temporary and no impairment loss relating to these securities has been 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 FHLB of Pittsburgh and FHLB of Cincinnati stock totaling $45.5 million and $11.6 million at December 31, 2015 and 2014, 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 | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans and the Allowance for Credit Losses | NOTE 5. 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 of $1.0 million and $2.4 million at December 31, 2015 and 2014, respectively. December 31, December 31, (in thousands) 2015 2014 Commercial real estate: Land and construction $ 344,748 $ 262,643 Improved property 1,911,633 1,682,817 Total commercial real estate 2,256,381 1,945,460 Commercial and industrial 737,878 638,410 Residential real estate 1,247,800 928,770 Home equity 416,889 330,031 Consumer 406,894 244,095 Total portfolio loans 5,065,842 4,086,766 Loans held for sale 7,899 5,865 Total loans $ 5,073,741 $ 4,092,631 The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: For the Year Ended December 31, 2015 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 5,654 $ 17,573 $ 9,063 $ 5,382 $ 2,329 $ 4,078 $ 575 $ 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total beginning allowance for credit losses 5,848 17,583 9,175 5,391 2,419 4,118 575 45,109 Provision for credit losses: Provision for loan losses (1,265 ) 1,250 3,289 399 1,794 2,337 391 8,195 Provision for loan commitments (37 ) 16 148 (2 ) 27 6 — 158 Total provision for credit losses (1,302 ) 1,266 3,437 397 1,821 2,343 391 8,353 Charge-offs — (4,915 ) (2,785 ) (1,803 ) (1,502 ) (2,892 ) (846 ) (14,743 ) Recoveries 1 840 435 604 262 1,240 222 3,604 Net charge-offs 1 (4,075 ) (2,350 ) (1,199 ) (1,240 ) (1,652 ) (624 ) (11,139 ) Balance at end of period: Allowance for loan losses 4,390 14,748 10,002 4,582 2,883 4,763 342 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total ending allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 For the Year Ended December 31, 2014 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 6,056 $ 18,157 $ 9,925 $ 5,673 $ 2,017 $ 5,020 $ 520 $ 47,368 Allowance for loan commitments 301 62 130 5 85 19 — 602 Total beginning allowance for credit losses 6,357 18,219 10,055 5,678 2,102 5,039 520 47,970 Provision for credit losses: Provision for loan losses (402 ) 1,239 1,429 1,692 849 1,144 601 6,552 Provision for loan commitments (107 ) (52 ) (18 ) 4 5 21 — (147 ) Total provision for credit losses (509 ) 1,187 1,411 1,696 854 1,165 601 6,405 Charge-offs — (2,426 ) (3,485 ) (2,437 ) (652 ) (3,120 ) (779 ) (12,899 ) Recoveries — 603 1,194 454 115 1,034 233 3,633 Net charge-offs — (1,823 ) (2,291 ) (1,983 ) (537 ) (2,086 ) (546 ) (9,266 ) Balance at end of period: Allowance for loan losses 5,654 17,573 9,063 5,382 2,329 4,078 575 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total ending allowance for credit losses $ 5,848 $ 17,583 $ 9,175 $ 5,391 $ 2,419 $ 4,118 $ 575 $ 45,109 For the Year Ended December 31, 2013 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 3,741 $ 23,614 $ 9,326 $ 7,182 $ 2,458 $ 5,557 $ 821 $ 52,699 Allowance for loan commitments 27 25 215 6 49 19 — 341 Total beginning allowance for credit losses 3,768 23,639 9,541 7,188 2,507 5,576 821 53,040 Provision for credit losses: Provision for loan losses 2,726 843 1,633 1,169 (8 ) 2,138 324 8,825 Provision for loan commitments 274 37 (85 ) (1 ) 36 — — 261 Total provision for credit losses 3,000 880 1,548 1,168 28 2,138 324 9,086 Charge-offs (536 ) (6,915 ) (1,505 ) (3,079 ) (549 ) (3,819 ) (880 ) (17,283 ) Recoveries 125 615 471 401 116 1,144 255 3,127 Net charge-offs (411 ) (6,300 ) (1,034 ) (2,678 ) (433 ) (2,675 ) (625 ) (14,156 ) Balance at end of period: Allowance for loan losses 6,056 18,157 9,925 5,673 2,017 5,020 520 47,368 Allowance for loan commitments 301 62 130 5 85 19 — 602 Total ending allowance for credit losses $ 6,357 $ 18,219 $ 10,055 $ 5,678 $ 2,102 $ 5,039 $ 520 $ 47,970 The following tables present the allowance for credit losses and recorded investments in loans by category: Allowance for Credit Losses and Recorded Investment in Loans (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total December 31, 2015 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 668 $ 853 $ — $ — $ — $ — $ 1,521 Allowance for loans collectively evaluated for impairment 4,390 14,080 9,149 4,582 2,883 4,763 342 40,189 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 Portfolio loans: Individually evaluated for impairment (1) $ — $ 4,031 $ 4,872 $ — $ — $ — $ — $ 8,903 Collectively evaluated for impairment 343,832 1,899,738 732,957 1,247,639 416,862 406,622 — 5,047,650 Acquired with deteriorated credit quality 916 7,864 49 161 27 272 — 9,289 Total portfolio loans $ 344,748 $ 1,911,633 $ 737,878 $ 1,247,800 $ 416,889 $ 406,894 $ — $ 5,065,842 December 31, 2014 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 2,765 $ 1,033 $ — $ — $ — $ — $ 3,798 Allowance for loans collectively evaluated for impairment 5,654 14,808 8,030 5,382 2,329 4,078 575 40,856 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total allowance for credit losses $ 5,848 $ 17,583 $ 9,175 $ 5,391 $ 2,419 $ 4,118 $ 575 $ 45,109 Portfolio loans: Individually evaluated for impairment (1) $ — $ 11,469 $ 2,844 $ — $ — $ — $ — $ 14,313 Collectively evaluated for impairment 262,643 1,671,348 635,566 928,770 330,031 244,095 — 4,072,453 Total portfolio loans $ 262,643 $ 1,682,817 $ 638,410 $ 928,770 $ 330,031 $ 244,095 $ — $ 4,086,766 (1) Commercial loans greater than $1 million that are reported as non-accrual or as a TDR are individually evaluated for impairment. WesBanco maintains an internal loan grading system to reflect the credit quality of commercial loans. Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at the inception of each loan 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 reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. This includes an analysis of cash flow available to repay debt, profitability, liquidity, leverage, and overall financial trends. Other factors include management, industry or property type risks, an assessment of secondary sources of repayment such as collateral or guarantees, other terms and conditions of the loan that may increase or reduce its risk, and economic conditions and other external factors that may influence repayment capacity and financial condition. 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 net rental income generated by the property to service the debt, the type, quality, industry and mix of tenants, and the terms of leases, but also considers the overall financial capacity of the investors and their experience in owning and managing investment property. The risk grade assigned to owner-occupied commercial real estate and commercial and industrial loans is based primarily on historical and projected earnings, the adequacy of operating cash flow to service all of the business’ debt, and the capital resources, liquidity and leverage of the business, but also considers the industry in which the business operates, the business’ specific competitive advantages or disadvantages, the quality and experience of management, and external influences on the business such as economic conditions. Other factors that are considered for commercial and industrial loans include the type, quality and marketability of non-real estate collateral and whether the structure of the loan increases or reduces its risk. The type, age, condition, location and any environmental risks associated with a property are also considered for all types of commercial real estate. The overall financial condition and repayment capacity of any guarantors is also evaluated to determine the extent to which they mitigate other risks of the loan. The following paragraphs provide descriptions of risk grades that are applicable to commercial real estate and commercial and industrial loans. 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. Criticized or compromised loans are currently protected but have weaknesses, which, if not corrected, may be inadequately protected at some future date. These loans represent an unwarranted credit risk and would generally not be extended in the normal course of lending. Specific issues which may warrant this grade include declining financial results, increased reliance on secondary sources of repayment or guarantor support and adverse external influences that may negatively impact the business or property. Substandard and doubtful loans are equivalent to the classifications used by banking regulators. Substandard loans are inadequately protected by the current repayment capacity and equity of the borrower or collateral pledged, if any. Substandard loans have one or more well-defined weaknesses that jeopardize their repayment or collection in full. These loans may or may not be reported as non-accrual. Doubtful loans have all the weaknesses inherent to a substandard loan with the added characteristic that full repayment is highly questionable or improbable on the basis of currently existing facts, conditions and collateral values. However, recognition of loss may be deferred if there are reasonably specific pending factors that will reduce the risk if they occur. The following tables summarize commercial loans by their assigned risk grade: Commerical Loans by Internally Assigned Risk Grade (in thousands) Commercial Commercial Commercial Total As of December 31, 2015 Pass $ 335,989 $ 1,864,986 $ 713,578 $ 2,914,553 Criticized—compromised 5,527 10,911 9,860 26,298 Classified—substandard 3,232 35,736 14,440 53,408 Classified—doubtful — — — — Total $ 344,748 $ 1,911,633 $ 737,878 $ 2,994,259 As of December 31, 2014 Pass $ 257,218 $ 1,627,771 $ 617,742 $ 2,502,731 Criticized—compromised 3,645 17,873 12,770 34,288 Classified—substandard 1,780 37,173 7,898 46,851 Classified—doubtful — — — — Total $ 262,643 $ 1,682,817 $ 638,410 $ 2,583,870 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 were $15.8 million at December 31, 2015 and $15.2 million at December 31, 2014, of which $3.1 and $2.2 million were accruing, for each period, respectively. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard are not included in the tables above. Acquired Loans— Loans acquired with deteriorated credit quality with a pre-acquisition book value of $16.1 million and contractually required payments of $21.8 million were recorded at their estimated fair value of $10.9 million. The accretable yield on these acquired loans was $1.8 million on the acquisition date with $1.2 million remaining at December 31, 2015. For the year ended December 31, 2015 accretion recognized in interest income on these acquired loans was $0.6 million. The balance of loans acquired with deteriorated credit quality at December 31, 2015 was $9.3 million, while the non-accretable difference was $9.1 million. At December 31, 2015 no allowance for loan losses has been recognized related to the acquired impaired loans, as estimates of future cash flows on these loans have not been negatively impacted. The following tables summarize the age analysis of all categories of loans. Age Analysis of Loans (in thousands) Current 30-59 Days 60-89 Days 90 Days Total Total Loans 90 Days or More As of December 31, 2015 Commercial real estate: Land and construction $ 344,184 $ — $ — $ 564 $ 564 $ 344,748 $ — Improved property 1,901,466 909 1,097 8,161 10,167 1,911,633 — Total commercial real estate 2,245,650 909 1,097 8,725 10,731 2,256,381 — Commercial and industrial 734,660 298 714 2,206 3,218 737,878 33 Residential real estate 1,234,839 1,389 2,871 8,701 12,961 1,247,800 2,159 Home equity 412,450 2,252 314 1,873 4,439 416,889 407 Consumer 401,242 4,115 764 773 5,652 406,894 527 Total portfolio loans 5,028,841 8,963 5,760 22,278 37,001 5,065,842 3,126 Loans held for sale 7,899 — — — — 7,899 — Total loans $ 5,036,740 $ 8,963 $ 5,760 $ 22,278 $ 37,001 $ 5,073,741 $ 3,126 Impaired loans included above are as follows: Non-accrual loans $ 11,349 $ 943 $ 2,147 $ 18,942 $ 22,032 $ 33,381 TDRs accruing interest (1) 10,710 390 238 210 838 11,548 Total impaired $ 22,059 $ 1,333 $ 2,385 $ 19,152 $ 22,870 $ 44,929 As of December 31, 2014 Commercial real estate: Land and construction $ 261,356 $ 20 $ — $ 1,267 $ 1,287 $ 262,643 $ 71 Improved property 1,665,363 961 4,772 11,721 17,454 1,682,817 — Total commercial real estate 1,926,719 981 4,772 12,988 18,741 1,945,460 71 Commercial and industrial 634,482 1,834 240 1,854 3,928 638,410 22 Residential real estate 915,968 1,237 3,384 8,181 12,802 928,770 1,306 Home equity 325,291 1,877 895 1,968 4,740 330,031 570 Consumer 240,365 2,571 685 474 3,730 244,095 319 Total portfolio loans 4,042,825 8,500 9,976 25,465 43,941 4,086,766 2,288 Loans held for sale 5,865 — — — — 5,865 — Total loans $ 4,048,690 $ 8,500 $ 9,976 $ 25,465 $ 43,941 $ 4,092,631 $ 2,288 Impaired loans included above are as follows: Non-accrual loans $ 7,562 $ 2,884 $ 5,552 $ 22,820 $ 31,256 $ 38,818 TDRs accruing interest (1) 11,016 151 542 357 1,050 12,066 Total impaired $ 18,578 $ 3,035 $ 6,094 $ 23,177 $ 32,306 $ 50,884 (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 impaired loans: Impaired Loans December 31, 2015 December 31, 2014 (in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ 2,126 $ 1,990 $ — $ 1,588 $ 1,488 $ — Improved property 14,817 10,559 — 16,480 14,684 — Commercial and industrial 4,263 3,481 — 3,152 2,597 — Residential real estate 18,560 16,688 — 20,077 18,544 — Home equity 3,562 3,033 — 2,890 2,663 — Consumer 1,603 1,294 — 1,287 1,086 — Total impaired loans without a specific allowance 44,931 37,045 — 45,474 41,062 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 3,012 3,012 668 7,980 7,980 2,765 Commercial and industrial 6,176 4,872 853 1,842 1,842 1,033 Total impaired loans with a specific allowance 9,188 7,884 1,521 9,822 9,822 3,798 Total impaired loans $ 54,119 $ 44,929 $ 1,521 $ 55,296 $ 50,884 $ 3,798 (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 impaired loans. Impaired Loans For the Year Ended For the Year Ended For the Year Ended (in thousands) Average Interest Average Interest Average Interest With no related specific allowance recorded: Commercial real estate: Land and construction $ 2,156 $ 41 $ 1,977 $ 35 $ 4,552 $ 87 Improved property 17,192 437 17,669 441 22,702 610 Commercial and industrial 2,979 170 3,561 103 3,757 112 Residential real estate 17,876 862 18,829 855 19,915 803 Home equity 2,924 90 2,356 75 2,262 68 Consumer 1,199 105 1,122 97 1,377 89 Total impaired loans without a specific allowance 44,326 1,705 45,514 1,606 54,565 1,769 With a specific allowance recorded: Commercial real estate: Land and construction — — — — 1,234 — Improved property 5,896 — 2,795 348 2,746 22 Commercial and industrial 3,579 292 2,075 95 309 89 Total impaired loans with a specific allowance 9,475 292 4,870 443 4,289 111 Total impaired loans $ 53,801 $ 1,997 $ 50,384 $ 2,049 $ 58,854 $ 1,880 The following tables present the recorded investment in non-accrual loans and TDRs: Non-accrual Loans (1) (in thousands) December 31, December 31, Commercial real estate: Land and construction $ 1,023 $ 1,488 Improved property 11,507 20,227 Total commercial real estate 12,530 21,715 Commercial and industrial 8,148 4,110 Residential real estate 9,461 10,329 Home equity 2,391 1,923 Consumer 851 741 Total $ 33,381 $ 38,818 (1) At December 31, 2015, there were three borrowers with loans greater than $1.0 million totaling $8.9 million. Total non-accrual loans include loans that are also restructured. Such loans are also set forth in the following table as non-accrual TDRs. TDRs December 31, 2015 December 31, 2014 (in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ 967 $ 431 $ 1,398 $ — $ 464 $ 464 Improved property 2,064 1,442 3,506 2,437 1,850 4,287 Total commercial real estate 3,031 1,873 4,904 2,437 2,314 4,751 Commercial and industrial 205 282 487 329 478 807 Residential real estate 7,227 2,060 9,287 8,215 2,074 10,289 Home equity 642 218 860 740 245 985 Consumer 443 184 627 345 309 654 Total $ 11,548 $ 4,617 $ 16,165 $ 12,066 $ 5,420 $ 17,486 As of December 31, 2015, there were no TDRs greater than $1.0 million. 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 three months. The following table presents details related to loans identified as TDRs during the years ended December 31, 2015 and 2014: New TDRs (1) For the Year Ended December 31, 2015 New TDRs (1) For the Year Ended December 31, 2014 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction 9 $ 1,065 $ 1,019 — $ — $ — Improved property 7 1,195 708 9 1,638 1,437 Total commercial real estate 16 2,260 1,727 9 1,638 1,437 Commercial and industrial 3 98 92 3 231 163 Residential real estate 8 468 439 8 424 400 Home equity 1 7 6 — — — Consumer 24 329 306 11 199 167 Total 52 $ 3,162 $ 2,570 31 $ 2,492 $ 2,167 (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 years ended December 31, 2015 and 2014 that were restructured within the last twelve months prior to December 31, 2015 and 2014: Defaulted TDRs (1) For the Year Ended Defaulted TDRs (1) For the Year Ended (dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property 2 370 — — Total commercial real estate 2 370 — — Commercial and industrial — — — — Residential real estate 1 22 — — Home equity — — — — Consumer — — 1 26 Total 3 $ 392 1 $ 26 (1) Excludes loans that were either charged-off or cured by period end. The recorded investment is as of December 31, 2015 and 2014. TDRs that defaulted during the twelve month period that were restructured during the twelve months ended December 31, 2015 represented 2.4% of the total TDR balance at December 31, 2015. These loans are placed on non-accrual status unless they are both well-secured and in the process of collection. At December 31, 2015, the loans in the table above were not accruing interest. The following table summarizes the recognition of interest income on impaired loans: For the years ended December 31, (in thousands) 2015 2014 2013 Average impaired loans $ 53,801 $ 50,384 $ 58,854 Amount of contractual interest income on impaired loans 3,061 3,260 3,225 Amount of interest income recognized on impaired loans 1,997 2,049 1,880 The following table summarizes other real estate owned and repossessed assets included in other assets: December 31, (in thousands) 2015 2014 Other real estate owned $ 5,669 $ 4,920 Repossessed assets 156 162 Total other real estate owned and repossessed assets $ 5,825 $ 5,082 Residential real estate included in other real estate owned at December 31, 2015 and December 31, 2014 was $2.0 million and $0.6 million, respectively. At December 31, 2015, formal foreclosure proceedings were in process on residential real estate loans totaling $4.1 million. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | NOTE 6. PREMISES AND EQUIPMENT Premises and equipment include: December 31, (in thousands) 2015 2014 Land and improvements $ 32,665 $ 28,158 Buildings and improvements 121,645 105,436 Furniture and equipment 71,959 66,149 Total cost 226,269 199,743 Accumulated depreciation and amortization (114,066 ) (106,608 ) Total premises and equipment, net $ 112,203 $ 93,135 Depreciation and amortization expense of premises and equipment charged to operations for the years ended December 31, 2015, 2014 and 2013 was $8.1 million, $7.4 million and $7.0 million, respectively. WesBanco leases certain premises and equipment under non-cancellable operating leases. Certain leases contain renewal options and rent escalation clauses calling for rent increases over the term of the lease. All leases which contain a rent escalation clause are accounted for on a straight-line basis. Rent expense under leases was $3.1 million, $2.7 million and $2.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. Future minimum lease payments under non-cancellable leases with initial or remaining lease terms in excess of one year at December 31, 2015 are as follows ( in thousands Year Amount 2016 $ 2,872 2017 2,502 2018 1,973 2019 1,624 2020 1,541 2021 and thereafter 12,507 Total $ 23,019 |
GOODWILL AND OTHER INTANGIBLE A
GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS | NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS WesBanco’s Consolidated Balance Sheets include goodwill of $480.6 million and $312.1 million at December 31, 2015 and 2014, respectively. WesBanco’s other intangible assets of $10.3 million and $7.4 million at December 31, 2015 and 2014, respectively, primarily consist of core deposit and other customer list intangibles which have finite lives and are amortized using straight line and accelerated methods. WesBanco recognized $168.5 million in goodwill and $5.3 million in core deposit intangibles in connection with the ESB acquisition. Other intangible assets are being amortized over estimated useful lives ranging from ten to sixteen years. Amortization of core deposit and customer list intangible assets totaled $2.4 million, $1.9 million and $2.3 million for the years ended December 31, 2015, 2014 and 2013, respectively. WesBanco completed its annual goodwill impairment evaluation as of November 30, 2015 and determined that goodwill was not impaired as of December 31, 2015 as there were no significant changes in market conditions, consolidated operating results, or forecasted future results from November 30, 2015. Additionally, there were no events or changes in circumstances indicating impairment of intangible assets as of December 31, 2015. The following table shows WesBanco’s capitalized other intangible assets and related accumulated amortization: December 31, (in thousands) 2015 2014 Other intangible assets: Gross carrying amount $ 28,674 $ 38,048 Accumulated amortization (18,338 ) (30,640 ) Net carrying amount of other intangible assets $ 10,336 $ 7,408 The following table shows the amortization on WesBanco’s other intangible assets for each of the next five years ( in thousands Year Amount 2016 $ 2,185 2017 1,889 2018 1,601 2019 1,329 2020 1,090 As part of the ESB acquisition, WesBanco entered into non-compete agreements with former ESB executives with terms ranging from one to four years. The non-compete agreements are recognized in other assets on the balance sheet with the amortization expense recognized in amortization of intangible assets on the income statement. Amortization expense of non-compete agreements totaled $0.7 million in 2015 and is expected to be $0.6 million, $0.6 million and $0.3 million in the next three years, respectively. |
Investments in Limited Partners
Investments in Limited Partnerships | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Investments in Limited Partnerships | NOTE 8. INVESTMENTS IN LIMITED PARTNERSHIPS WesBanco is a limited partner in several tax-advantaged limited partnerships whose purpose is to invest in approved low-income housing investment tax credit projects. These investments are accounted for using the equity method of accounting and are included in other assets in the Consolidated Balance Sheets. The limited partnerships are considered to be VIEs as they generally do not have equity investors with voting rights or have equity investors that do not provide sufficient financial resources to support their activities. The VIEs have not been consolidated because WesBanco is not considered the primary beneficiary. All of WesBanco’s investments in limited partnerships are privately held, and their market values are not readily available. Investments in low-income housing partnerships are evaluated for impairment at the end of each reporting period. At December 31, 2015 and 2014, WesBanco had $3.1 million and $1.7 million, respectively, invested in these partnerships. WesBanco also recognizes the unconditional unfunded equity commitments of $2.1 million and $0.6 million at December 31, 2015 and 2014, respectively, in other liabilities. For the years ended December 31, 2015, 2014 and 2013, WesBanco included in operations under the equity method of accounting its share of the partnerships’ losses and impairment of $0.6 million, $0.9 million, and $1.2 million, respectively. Tax benefits attributed to these partnerships include low-income housing and historic tax credits which totaled $0.5 million, $0.7 million and $0.8 million for the years ended December 31, 2015, 2014 and 2013, respectively. WesBanco is also a limited partner in seven other limited partnerships which provide seed money and capital to startup companies, and financing to low-income housing projects. At December 31, 2015 and 2014, WesBanco had $5.2 million and $4.4 million, respectively, invested in these partnerships, which are recorded in other assets using the equity method. WesBanco included in operations under the equity method of accounting its share of the partnerships’ net income of $0 million, $0.3 million and $0 million for the years ended December 31, 2015, 2014 and 2013, respectively. In connection with WesBanco’s acquisition of ESB on February 10, 2015, WesBanco acquired ESB’s wholly-owned subsidiary AMSCO, Inc. (“AMSCO”), which engages in the management of certain real estate development and construction of 1-4 family residential units through seven joint venture partnerships. The Bank has provided all development and construction financing. The joint ventures, which are majority-owned by AMSCO, have been included in the consolidated financial statements and are reflected within other non-interest income or expense. At December 31, 2015, WesBanco had a $7.7 million net investment in AMSCO. WesBanco included in operations net income of $0.3 million for the year ended December 31, 2015. |
Certificates of Deposit
Certificates of Deposit | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Certificates of Deposit | NOTE 9. CERTIFICATES OF DEPOSIT Certificates of deposit in denominations of $100 thousand or more were $780.1 million and $706.1 million as of December 31, 2015 and 2014, respectively. Interest expense on certificates of deposit of $100 thousand or more was $4.9 million, $7.5 million and $13.0 million for the years ended December 31, 2015, 2014 and 2013, respectively. At December 31, 2015, the scheduled maturities of total certificates of deposit are as follows (in thousands) Year Amount 2016 $ 922,773 2017 252,066 2018 148,493 2019 88,590 2020 117,640 2021 and thereafter 28,276 Total $ 1,557,838 |
FHLB and Other Short-Term Borro
FHLB and Other Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
FHLB and Other Short-Term Borrowings | NOTE 10. FHLB AND OTHER SHORT-TERM BORROWINGS WesBanco is a member of the FHLB system. WesBanco’s FHLB borrowings, which consist of borrowings from both the FHLB of Pittsburgh and the FHLB of Cincinnati, are secured by a blanket lien by the FHLB on certain residential mortgages and other loan types or securities with a market value in excess of the outstanding balances of the borrowings. At December 31, 2015 and 2014, WesBanco had FHLB borrowings of $1.0 billion and $223.1 million, with a remaining weighted-average interest rate of 1.17% and 0.91%, respectively. The terms of the security agreement with the FHLB include a specific assignment of collateral that requires the maintenance of qualifying mortgage and other types of loans as pledged collateral with unpaid principal amounts in excess of the FHLB advances, when discounted at certain pre-established percentages of the loans’ unpaid principal balances. FHLB stock owned by WesBanco totaling $45.5 million and $11.6 million at December 31, 2015 and 2014, respectively, is also pledged as collateral on these advances. The remaining maximum borrowing capacity by WesBanco with the FHLB at December 31, 2015 and 2014 was estimated to be approximately $1.1 billion and $1.5 billion, respectively. The following table presents the aggregate annual maturities and weighted-average interest rates of FHLB borrowings at December 31, 2015 based on their contractual maturity dates and interest rates (dollars in thousands) : Year Scheduled Weighted 2016 $ 213,052 0.82 % 2017 509,788 1.17 % 2018 310,996 1.32 % 2019 4,645 4.12 % 2020 852 5.88 % 2021 and thereafter 2,417 2.13 % Total $ 1,041,750 1.17 % Other short-term borrowings of $81.4 million and $80.7 million at December 31, 2015, and 2014, respectively, may consist of securities sold under agreements to repurchase, federal funds purchased, and outstanding borrowings on a revolving line of credit. At December 31, 2015 and 2014, securities sold under agreements to repurchase were $81.4 million and $80.7 million, with a weighted average interest rate during the year of 0.32% and 1.36%, respectively. There were no outstanding balances of fed funds purchased at December 31, 2015 and 2014 and no outstanding borrowings on the revolving line of credit in either year. On September 2, 2015, WesBanco renewed a revolving line of credit, which is a senior obligation of the parent company with another financial institution. This line of credit, which accrues interest at an adjusted LIBOR rate, includes a fee on the unused portion of the commitment and matures September 2, 2016, provides for aggregate unsecured borrowings of up to $25.0 million. There were no outstanding balances as of December 31, 2015 or December 31, 2014. |
Junior Subordinated Debt Owed t
Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts | NOTE 11. JUNIOR SUBORDINATED DEBT OWED TO UNCONSOLIDATED SUBSIDIARY TRUSTS The Trusts, consisting of WesBanco Capital Trust II, WesBanco Capital Statutory Trust III, WesBanco Capital Trusts IV, V and VI, and Oak Hill Capital Trusts 2, 3 and 4, are all wholly-owned trust subsidiaries of WesBanco formed for the purpose of issuing Trust Preferred Securities (“Trust Preferred Securities”) into a pool of other financial services entity trust preferred securities, and lending the proceeds to WesBanco. The Trust Preferred Securities were issued and sold in private placement offerings. The proceeds from the sale of the securities and the issuance of common stock by the Trusts were invested in Junior Subordinated Deferrable Interest Debentures (“Junior Subordinated Debt”) issued by WesBanco, and the former Oak Hill Financial, Inc., acquired by WesBanco in 2007, which are the sole assets of the Trusts. The Trusts pay dividends on the Trust Preferred Securities at the same rate as the distributions paid by WesBanco on the Junior Subordinated Debt held by the Trusts. The Trusts provide WesBanco with the option to defer payment of interest on the Junior Subordinated Debt for an aggregate of 20 consecutive quarterly periods. Should any of these options be utilized, WesBanco may not declare or pay dividends on its common stock during any such period. Undertakings made by WesBanco with respect to the Trust Preferred Securities for the Trusts constitute a full and unconditional guarantee by WesBanco of the obligations of these Trust Preferred Securities. WesBanco organized Trusts II and III in June 2003, Trusts IV and V in June 2004 and Trust VI in March 2005. The Oak Hill Trusts 2 and 3 were organized in 2004 and Trust 4 was organized in 2005. The Junior Subordinated Debt is presented as a separate category of long-term debt on the Consolidated Balance Sheets. For regulatory purposes, the Federal Reserve Board has allowed bank holding companies to include trust preferred securities in Tier 1 capital up to a certain limit. Provisions in the Dodd-Frank Act require the Federal Reserve Board to generally exclude trust preferred securities from Tier 1 capital, but a grandfather provision will permit bank holding companies with consolidated assets of less than $15 billion, such as WesBanco, to continue counting existing trust preferred securities as Tier 1 capital until they mature. All of the Trust Preferred Securities qualified under the current rules as Tier 1 instruments at December 31, 2015, but no such securities issued in the future will count as Tier 1 capital. The Trust Preferred Securities provide the issuer with a unique capital instrument that has a tax deductible interest feature not normally associated with the equity of a corporation. In connection with the ESB acquisition on February 10, 2015, WesBanco acquired ESB Capital Trust IV, a Delaware trust established in 2005 by ESB. The Trust owned Junior Subordinated Debt issued by ESB. The trust preferred securities and junior subordinated debt were redeemed at aggregate redemption price, excluding accrued interest, of $36.1 million on May 11, 2015. The following table shows WesBanco’s trust subsidiaries with outstanding Trust Preferred Securities as of December 31, 2015: (in thousands) Trust Common Junior Stated Optional WesBanco Capital Trust II (1) $ 13,000 $ 410 $ 13,410 6/30/2033 6/30/2008 WesBanco Capital Statutory Trust III (2) 17,000 526 17,526 6/26/2033 6/26/2008 WesBanco Capital Trust IV (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust V (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust VI (4) 15,000 464 15,464 3/17/2035 3/17/2010 Oak Hill Capital Trust 2 (5) 5,000 155 5,155 10/18/2034 10/18/2009 Oak Hill Capital Trust 3 (6) 8,000 248 8,248 10/18/2034 10/18/2009 Oak Hill Capital Trust 4 (7) 5,000 155 5,155 6/30/2035 6/30/2015 Total $ 103,000 $ 3,196 $ 106,196 (1) Variable rate based on the three-month LIBOR plus 3.15% with a current rate of 3.75% through March 30, 2016, adjustable quarterly. (2) Variable rate based on the three-month LIBOR plus 3.10% with a current rate of 3.70% through March 26, 2016, adjustable quarterly. (3) Variable rate based on the three-month LIBOR plus 2.65% with a current rate of 3.18% through March 17, 2016, adjustable quarterly. (4) Variable rate based on the three-month LIBOR plus 1.77% with a current rate of 2.30% through March 17, 2016, adjustable quarterly. (5) Variable rate based on the three-month LIBOR plus 2.40% with a current rate of 2.72% through January 18, 2016, adjustable quarterly. (6) Variable rate based on the three-month LIBOR plus 2.30% with a current rate of 2.62% through January 18, 2016, adjustable quarterly. (7) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 2.20% through March 30, 2016, adjustable quarterly. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | NOTE 12. EMPLOYEE BENEFIT PLANS Defined Benefit Pension Plan— The benefit obligations and funded status of the Plan are as follows: December 31, (dollars in thousands) 2015 2014 Accumulated benefit obligation at end of year $ 99,312 $ 103,447 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 118,261 $ 90,640 Service cost 3,355 2,909 Interest cost 4,870 4,745 Actuarial (gain) loss (13,413 ) 25,392 Benefits paid (3,673 ) (5,425 ) Projected benefit obligation at end of year $ 109,400 $ 118,261 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 110,037 $ 100,274 Actual return on plan assets (572 ) 7,688 Employer contribution 7,500 7,500 Benefits paid (3,673 ) (5,425 ) Fair value of plan assets at end of year $ 113,292 $ 110,037 Amounts recognized in the statement of financial position: Funded status $ 3,892 $ (8,224 ) Net amounts recognized as receivable (payable) pension costs in the consolidated balance sheets $ 3,892 $ (8,224 ) Amounts recognized in accumulated other comprehensive income consist of: Unrecognized prior service cost $ 156 $ 182 Unrecognized net loss 27,549 35,834 Net amounts recognized in accumulated other comprehensive income (before tax) $ 27,705 $ 36,016 Weighted average assumptions used to determine benefit obligations: Discount rate 4.74 % 4.33 % Rate of compensation increase 3.82 % 3.77 % Expected long-term return on assets 6.79 % 7.00 % The components of and weighted-average assumptions used to determine net periodic benefit costs are as follows: For the years ended December 31, (dollars in thousands) 2015 2014 2013 Components of net periodic benefit cost: Service cost—benefits earned during year $ 3,355 $ 2,909 $ 3,120 Interest cost on projected benefit obligation 4,870 4,745 4,096 Expected return on plan assets (7,735 ) (7,229 ) (5,993 ) Amortization of prior service cost 26 45 45 Amortization of net loss 3,179 1,471 3,534 Net periodic pension cost $ 3,695 $ 1,941 $ 4,802 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net (gain) loss for period $ (5,106 ) $ 24,934 $ (17,751 ) Amortization of prior service cost (26 ) (45 ) (45 ) Amortization of net loss (3,179 ) (1,471 ) (3,534 ) Total recognized in other comprehensive income $ (8,311 ) $ 23,418 $ (21,330 ) Total recognized in net periodic pension cost and other comprehensive income $ (4,616 ) $ 25,359 $ (16,528 ) Weighted-average assumptions used to determine net periodic pension cost: Discount rate 4.33 % 5.17 % 4.36 % Rate of compensation increase 3.77 % 3.97 % 3.00 % Expected long-term return on assets 7.00 % 7.25 % 7.25 % The estimated net loss and prior service credit for the Plan that will be amortized from accumulated other comprehensive income into the net periodic pension cost over the next fiscal year are $2.8 million and $26 thousand, respectively. Unrecognized prior service cost and unrecognized net losses are amortized on a straight-line basis. All unrecognized net losses are being amortized over the average remaining service period of approximately 10 years. The expected long-term rate of return for the Plan’s total assets is based on the expected return of each of the Plan asset categories, weighted based on the median of the target allocation for each class. Pension Plan Investment Policy and Strategy— A maximum of 5% may be invested in any one stock. Foreign stocks may be included, either through direct investment or by the purchase of mutual funds which invest in foreign stock. WesBanco common stock can represent up to 5% of the total market value. Corporate bonds selected for purchase must be rated Baa1 by Moody’s or BBB+ by Standard and Poor’s or higher. No more than 5% shall be invested in bonds or notes issued by the same corporation with a maximum term of twenty years. There is no limit on the holdings of U.S. Treasury or Federal Agency Securities. At December 31, 2015 and 2014 the Plan’s equity securities included 55,300 shares of WesBanco common stock with a fair market value of $1.7 million and $1.9 million, respectively. The following table sets forth the Plan’s weighted-average asset allocations by asset category: Target Allocation for 2015 December 31, 2015 2014 Asset Category: Equity securities 55-75 % 61 % 65 % Debt securities 25-55 % 34 % 32 % Cash and cash equivalents 0-5 % 5 % 3 % Total 100 % 100 % The fair values of WesBanco’s pension plan assets at December 31, 2015 and 2014, by asset category are as follows: December 31, 2015 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 23,741 $ 23,741 $ — $ — Equity securities 56,098 56,098 — — Corporate debt securities 16,802 — 16,802 — Municipal obligations 3,034 — 3,034 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 15,386 — 15,386 — Total defined benefit pension plan assets (1) $ 115,061 $ 79,839 $ 35,222 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $113.3 million. December 31, 2014 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 17,182 $ 17,182 $ — $ — Equity securities 65,869 65,869 — — Corporate debt securities 15,726 — 15,726 — Municipal obligations 2,178 — 2,178 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 13,261 — 13,261 — Total defined benefit pension plan assets (1) $ 114,216 $ 83,051 $ 31,165 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $110.0 million. Registered investment companies and equity securities Corporate debt securities, municipal obligations, and U.S. government agency securities Cash Flows— The following table presents estimated benefits to be paid in each of the next five years and in the aggregate for the five years thereafter ( in thousands Year Amount 2016 $ 3,301 2017 3,870 2018 4,136 2019 4,424 2020 4,766 2021 to 2025 30,224 Employee Stock Ownership and 401(k) Plan (“KSOP”)— As of December 31, 2015, the KSOP held 552,868 shares of WesBanco common stock of which all shares were allocated to specific employee accounts. Dividends on shares are either distributed to employee accounts or paid in cash to the participant. Total expense for the KSOP was $2.5 million, $2.2 million, and $2.1 million in 2015, 2014 and 2013, respectively. WesBanco had 484,430 and 519,773 shares remaining for future issuance under the KSOP plan at December 31, 2015 and 2014, respectively. Incentive Bonus, Option and Restricted Stock Plan— Annual Bonus Compensation expense for the Annual Bonus was $1.3 million, $1.5 million and $1.3 million for 2015, 2014, and 2013, respectively. There was no Long-Term Incentive Bonus granted for any of these periods. Total Shareholder Return Plan On November 18, 2015, WesBanco’s Compensation Committee adopted Administrative Rules for a Total Shareholder Return Plan (“TSRP”). The TSRP measures the total shareholder return (“TSR”) on WesBanco common stock over a three-year measurement period relative to the return of an established peer group of publicly traded companies over the same performance period. The performance-based shares are determined at the end of the three-year period if the TSR of WesBanco common stock is equal to or greater than the 50 th percentile of the TSR of the peer group. The number of shares to be earned by the participant shall be 200% of the grant-date award if the TSR of WesBanco common stock is equal to or greater than the 75 th percentile of the TSR of the peer group. Upon achieving the performance-based metric, shares determined to be earned by the participant become service-based and vest in three equal annual installments. On November 18, 2015, WesBanco granted 12,000 TSRP shares for the performance period beginning January 1, 2016 and ending December 31, 2018 to certain executive officers. Stock Options On June 2, 2015, WesBanco granted 94,800 stock options to selected participants, including certain named executive officers at an exercise price of $31.58 per share. The options granted in 2015 are service-based and vest in two equal installments on December 31, 2015 and December 31, 2016, and expire seven years from the date of grant. Compensation expense for the stock option component of the Incentive Plan was $0.5 million, $0.4 million and $0.3 million for 2015, 2014 and 2013, respectively. At December 31, 2015, the total unrecognized compensation expense related to non-vested stock option grants totaled $0.2 million with an expense recognition period of one year remaining. The maximum term of options granted under WesBanco’s stock option plan is ten years from the original grant date. The total intrinsic value of options exercised was $0.6 million for each of the years ended December 31, 2015 and 2014. The cash received and related tax benefit realized from stock options exercised was $1.4 million and $0.2 million in 2015 and was $1.9 million and $0.2 million in 2014. Shares issued in connection with options exercised are issued from treasury shares acquired under WesBanco’s share repurchase plans or from issuance of authorized but unissued shares, subject to prior SEC registration. The fair value of stock options granted is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that might otherwise have a significant effect on the value of stock options granted that are not considered by the model. The following table sets forth the significant assumptions used in calculating the fair value of the grants: For the years ended December 31, 2015 2014 2013 Weighted-average life 4.9 years 4.8 years 4.5 years Risk-free interest rate 1.54 % 1.37 % 0.74 % Dividend yield 2.91 % 3.06 % 3.04 % Volatility factor 26.27 % 28.82 % 32.31 % Fair value of the grants $ 5.57 $ 5.41 $ 5.05 The weighted-average life assumption is an estimate of the length of time that an employee might hold an option before option exercise, option expiration or employment termination. The weighted-average life assumption was developed using historical experience. WesBanco used a weighted historical volatility of its common stock price over the weighted average life prior to each issuance as the volatility factor assumption, adjusted for abnormal volatility during certain periods, and current and future dividend payment expectations for the dividend assumption. The following table shows the activity for the Stock Option component of the Incentive Plan: For the year ended Number Weighted Outstanding at beginning of the year 258,450 $ 24.36 Granted during the year 94,800 31.58 Exercised during the year (60,275 ) 22.87 Forfeited or expired during the year (5,475 ) 26.32 Outstanding at end of the year 287,500 $ 27.02 Exercisable at year end 240,975 $ 26.14 The aggregate intrinsic value of the outstanding shares and the shares exercisable at year end was $1.0 million and $1.0 million, respectively. The following table shows the average remaining life of the stock options at December 31, 2015: Year Issued Exercisable Year End Exercise Options Weighted Weighted Avg. 2010 14,300 $ 19.27 14,300 $ 19.27 1.38 2011 18,500 19.76 18,500 19.76 2.38 2012 28,125 20.02 28,125 20.02 3.38 2013 57,875 25.00 57,875 25.00 4.38 2014 75,650 28.79 75,650 28.79 5.39 2015 46,525 31.58 93,050 31.58 6.42 Total 240,975 $ 19.27 to $31.58 287,500 $ 27.02 4.93 Restricted Stock During 2015, WesBanco granted 49,550 shares of restricted stock to certain officers. The restricted shares are service-based and cliff vest 36 months from the date of grant. The weighted average fair value of the restricted stock granted was $31.58 per share. Compensation expense relating to all restricted stock was $1.2 million, $1.0 million, and $0.8 million in 2015, 2014 and 2013, respectively. At December 31, 2015, the total unrecognized compensation expense related to non-vested restricted stock grants totaled $1.7 million with a weighted average expense recognition period of 1.5 years remaining. The restricted stock grant provides the recipient with voting rights from the date of issuance. Dividends paid on the restricted shares during the restriction period are converted into additional shares of restricted stock on the date the cash dividend would have otherwise been paid, but do not vest until the related grant of the restricted shares complete their vesting. The Compensation Committee has discretion to elect to pay such dividends to participants. The following table shows the activity for the Restricted Stock component of the Incentive Plan: For the year ended December 31, 2015 Restricted Weighted Non-vested at January 1, 2015 133,468 $ 25.19 Granted during the year 49,550 31.58 Vested during the year (41,885 ) 20.73 Forfeited or expired during the year (1,503 ) 24.29 Dividend reinvestment 3,826 33.11 Non-vested at end of the year 143,456 $ 28.92 |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Other Operating Expenses | NOTE 13. OTHER OPERATING EXPENSES Other operating expenses consist of miscellaneous taxes, consulting fees, ATM expenses, postage, supplies, legal fees, communications, other real estate owned and foreclosure expenses, and other expenses. Other operating expenses are presented below: For the years ended December 31, (in thousands) 2015 2014 2013 Franchise and other miscellaneous taxes $ 5,924 $ 6,748 $ 5,887 Consulting, regulatory and advisory fees 4,959 4,405 4,445 ATM and electronic banking interchange expenses 4,463 4,222 4,310 Postage and courier expenses 3,720 3,373 3,317 Supplies 2,841 2,425 2,675 Legal fees 2,418 2,531 2,549 Communications 1,537 1,555 2,717 Other real estate owned and foreclosure expenses 546 1,101 1,753 Other 12,479 10,836 9,684 Total other operating expenses $ 38,887 $ 37,196 $ 37,337 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 14. INCOME TAXES Reconciliation from the federal statutory income tax rate to the effective tax rate is as follows: For the years ended 2015 2014 2013 Federal statutory tax rate 35.0 % 35.0 % 35.0 % Net tax-exempt interest income on securities of state and political subdivisions (6.8 %) (6.4 %) (6.7 %) State income taxes, net of federal tax effect 1.6 % 1.4 % 1.6 % Bank-owned life insurance (1.6 %) (1.7 %) (1.9 %) General business credits (2.1 %) (3.1 %) (3.5 %) All other—net (0.1 %) 0.1 % — Effective tax rate 26.0 % 25.3 % 24.5 % The provision for income taxes applicable to income before taxes consists of the following: For the years ended December 31, (in thousands) 2015 2014 2013 Current: Federal $ 15,661 $ 13,346 $ 12,399 State 2,089 1,684 1,837 Deferred: Federal 10,047 8,337 6,267 State 618 353 260 Total $ 28,415 $ 23,720 $ 20,763 The following income tax amounts were recorded in shareholders’ equity as elements of other comprehensive income: For the years ended (in thousands) 2015 2014 2013 Securities and defined benefit pension plan unrecognized items $ (1,202 ) $ (3,538 ) $ (3,707 ) Deferred tax assets and liabilities consist of the following: December 31, (in thousands) 2015 2014 2013 Deferred tax assets: Allowance for loan losses $ 15,246 $ 16,386 $ 17,414 Compensation and benefits 6,114 8,764 2,324 Security gains and losses 2,964 2,817 3,261 Purchase accounting adjustments 1,275 1,497 3,544 Partnership adjustments 1,921 1,158 951 Non-accrual interest income 2,254 2,129 1,850 Tax credit carryforwards 13,000 10,163 11,517 Federal net operating loss carryforwards — 597 1,415 Fair value adjustments on securities available-for-sale 1,979 — 2,772 Other 2,264 2,169 2,224 Gross deferred tax assets 47,017 45,680 47,272 Deferred tax liabilities: Depreciation and amortization (1,530 ) (1,900 ) (1,416 ) Accretion on securities (2 ) (295 ) (262 ) Fair value adjustments on securities available-for-sale — (2,297 ) — Other (1,511 ) (1,728 ) (983 ) Gross deferred tax liabilities (3,043 ) (6,220 ) (2,661 ) Net deferred tax assets $ 43,974 $ 39,460 $ 44,611 WesBanco has a $0.1 million valuation allowance on certain capital loss carryforwards. However, no valuation allowance was established for the remaining deferred tax assets since management believes that deferred tax assets are likely to be realized through a carry-back to taxable income in prior years, future reversals of existing taxable temporary differences and future taxable income. Under the provisions of the Internal Revenue Code, WesBanco has approximately $4.7 million of general business credit carryforwards which expire between 2031 and 2033. WesBanco also has $8.3 million of alternative minimum tax credits that may be carried forward indefinitely. As a result of the acquisition of ESB in 2015 and the previous acquisitions of Fidelity, Western Ohio Financial Corporation, Winton Financial Corporation and Oak Hill Financial, Inc., retained earnings at December 31, 2015 and 2014 includes $32.9 million and $15.2 million, respectively, of qualifying and non-qualifying tax bad debt reserves existing as of December 31, 1987, upon which no provision for income taxes has been recorded. The related amount of unrecognized deferred tax liability is $12.0 million and $5.6 million for 2015 and 2014, respectively. If this portion of retained earnings is used in the future for any purpose other than to absorb bad debts, it will be added to future taxable income. Federal and state income taxes applicable to securities transactions totaled $0.3 million, $0.3 million, and $0.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. At December 31, 2015 and 2014, WesBanco had approximately $0.3 million and $0.7 million, respectively, of unrecognized tax benefits and interest. As of December 31, 2015, none of these tax benefits would affect the effective tax rate if recognized. At December 31, 2015 and December 31, 2014, accrued interest related to uncertain tax positions was $15 thousand and $23 thousand, respectively, net of the related federal tax benefit. WesBanco provides for interest and penalties related to uncertain tax positions as part of its provision for federal and state income taxes. WesBanco is subject to U.S. federal income tax as well as to tax in various state income tax jurisdictions. WesBanco is no longer subject to any income tax examinations for years prior to 2013. Fidelity returns are no longer subject to any income tax examinations for years prior to October 1, 2012. ESB returns are no longer subject to any income tax examinations for years prior to 2012. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: For the years ended (in thousands) 2015 2014 2013 Balance at beginning of year $ 701 $ 673 $ 668 Additions based on tax positions related to the current year 104 155 140 Reductions for tax positions of prior years (100 ) — — Reductions due to the statute of limitations (379 ) (127 ) (135 ) Settlements — — — Balance at end of year $ 326 $ 701 $ 673 |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 15. 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: Securities available-for-sale: We may be required from time to time to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. Impaired loans Other real estate owned and repossessed assets: Loans held for sale: 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 December 31, 2015 and 2014: December 31, 2015 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in (Level 1) Significant Significant (Level 3) Recurring fair value measurements Securities—available-for-sale Obligations of government agencies $ 83,505 $ — $ 83,505 $ — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,176,080 — 1,176,080 — Obligations of state and political subdivisions 80,265 — 80,265 — Corporate debt securities 58,593 — 58,593 — Equity securities 11,077 7,961 3,116 — Total securities—available-for-sale $ 1,409,520 $ 7,961 $ 1,401,559 $ — Total recurring fair value measurements $ 1,409,520 $ 7,961 $ 1,401,559 $ — Nonrecurring fair value measurements Impaired loans $ 6,363 $ — $ — $ 6,363 Other real estate owned and repossessed assets 5,825 — — 5,825 Loans held for sale 7,899 — 7,899 — Total nonrecurring fair value measurements $ 20,087 $ — $ 7,899 $ 12,188 December 31, 2014 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in (Level 1) Significant Significant (Level 3) Recurring fair value measurements Securities—available-for-sale Obligations of government agencies $ 87,736 $ — $ 87,736 $ — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 701,113 — 701,113 — Obligations of state and political subdivisions 91,433 — 91,433 — Corporate debt securities 25,996 — 25,996 — Equity securities 11,146 8,440 2,706 — Total securities—available-for-sale $ 917,424 $ 8,440 $ 908,984 $ — Total recurring fair value measurements $ 917,424 $ 8,440 $ 908,984 $ — Nonrecurring fair value measurements Impaired loans $ 6,024 $ — $ — $ 6,024 Other real estate owned and repossessed assets 5,082 — — 5,082 Loans held for sale 5,865 — 5,865 — Total nonrecurring fair value measurements $ 16,971 $ — $ 5,865 $ 11,106 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 transfers between Levels 1, 2, or 3 for the years ended December 31, 2015 and 2014. 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 (in thousands) Fair Value Valuation Techniques Unobservable Input Range / Weighted Average December 31, 2015: Impaired loans $ 6,363 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (40.6%) / (25.1%) Liquidation expenses (2) (3.0%) to (8.0%) / (6.7%) Other real estate owned and repossessed assets 5,825 Appraisal of collateral (1)(3) December 31, 2014: Impaired loans $ 6,024 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (39.7%) / (6.7%) Liquidation expenses (2) (1.2%) to (8.0%) / (6.7%) Other real estate owned and repossessed assets 5,082 Appraisal of collateral (1)(3) (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 expenses 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: (in thousands) Carrying Fair Value Fair Value Measurements Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) December 31, 2015 Financial Assets Cash and due from banks $ 86,685 $ 86,685 $ 86,685 $ — $ — Securities available-for-sale 1,409,520 1,409,520 7,961 1,401,559 — Securities held-to-maturity 1,012,930 1,038,207 — 1,037,490 717 Net loans 5,024,132 4,936,236 — — 4,936,236 Loans held for sale 7,899 7,899 — 7,899 — Accrued interest receivable 25,759 25,759 25,759 — — Bank-owned life insurance 150,980 150,980 150,980 — — Financial Liabilities Deposits 6,066,299 6,075,433 4,508,461 1,566,972 — Federal Home Loan Bank borrowings 1,041,750 1,041,752 — 1,041,752 — Other borrowings 81,356 81,361 78,682 2,679 — Junior subordinated debt 106,196 79,681 — 79,681 — Accrued interest payable 1,715 1,715 1,715 — — December 31, 2014 Financial Assets Cash and due from banks $ 94,002 $ 94,002 $ 94,002 $ — $ — Securities available-for-sale 917,424 917,424 8,440 908,984 — Securities held-to-maturity 593,670 619,617 — 618,895 722 Net loans 4,042,112 4,047,648 — — 4,047,648 Loans held for sale 5,865 5,865 — 5,865 — Accrued interest receivable 18,481 18,481 18,481 — — Bank-owned life insurance 123,298 123,298 123,298 — — Financial Liabilities Deposits 5,048,983 5,056,828 3,743,887 1,312,941 — Federal Home Loan Bank borrowings 223,126 225,456 — 225,456 — Other borrowings 80,690 80,696 77,534 3,162 — Junior subordinated debt 106,176 79,212 — 79,212 — Accrued interest payable 1,620 1,620 1,620 — — 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: Securities held-to-maturity: Net loans: Accrued interest receivable: Bank-Owned Life Insurance: Deposits: Federal Home Loan Bank borrowings: Other borrowings: Junior subordinated debt owed to unconsolidated subsidiary trusts: Accrued interest payable: Off-balance sheet financial instruments: |
Comprehensive Income_(Loss)
Comprehensive Income/(Loss) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Comprehensive Income/(Loss) | NOTE 16. COMPREHENSIVE INCOME/(LOSS) The activity in accumulated other comprehensive income/(loss) for the years ended December 31, 2015, 2014 and 2013 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (in thousands) Defined Benefit Pension Plan Unrealized Gains (Losses) on Securities Available-for-Sale Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) Other comprehensive income/(loss) before reclassifications 3,233 (6,677 ) — (3,444 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,004 (377 ) (312 ) 1,315 Period change 5,237 (7,054 ) (312 ) (2,129 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Balance at December 31, 2013 $ (7,966 ) $ (6,126 ) $ 1,358 $ (12,734 ) Other comprehensive (loss)/income before reclassifications (15,768 ) 9,638 — (6,130 ) Amounts reclassified from accumulated other comprehensive income/(loss) 958 (620 ) (299 ) 39 Period change (14,810 ) 9,018 (299 ) (6,091 ) Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) Balance at December 31, 2012 $ (21,401 ) $ 13,032 $ 2,004 $ (6,365 ) Other comprehensive income/(loss) before reclassifications 11,224 (19,102 ) — (7,878 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,211 (56 ) (646 ) 1,509 Period change 13,435 (19,158 ) (646 ) (6,369 ) Balance at December 31, 2013 $ (7,966 ) $ (6,126 ) $ 1,358 $ (12,734 ) (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 37%. Details about Accumulated Other Comprehensive Income/(Loss) Components Amounts Reclassified from December 31, Affected Line Item in the Statement of Net (in thousands) 2015 2014 2013 Securities available-for-sale (1): Net securities gains reclassified into earnings $ (596 ) $ (981 ) $ (89 ) Net securities gains (Non-interest income) Related income tax expense 219 361 33 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (377 ) (620 ) (56 ) Securities held-to-maturity (1): Amortization of unrealized gain transferred from available-for-sale (494 ) (472 ) (1,029 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 182 173 383 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (312 ) (299 ) (646 ) Defined benefit pension plan (2): Amortization of net loss and prior service costs 3,205 1,516 3,579 Employee benefits (Non-interest expense) Related income tax benefit (1,201 ) (558 ) (1,368 ) Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 2,004 958 2,211 Total reclassifications for the period $ 1,315 $ 39 $ 1,509 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income/(loss) see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 12, “Employee Benefit Plans” for additional detail. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | NOTE 17. COMMITMENTS AND CONTINGENT LIABILITIES Commitments— 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 December 31, 2015 and 2014. Contingent obligations to purchase loans funded by other entities include affordable housing plan guarantees, credit card guarantees and mortgages sold into the secondary market with recourse. Affordable housing plan guarantees are performance guarantees for various building project loans. The guarantee amortizes as the loan balances decrease. Credit card guarantees are credit card balances not owned by WesBanco, whereby the Bank guarantees the performance of the cardholder. Certain mortgages sold with recourse obligate WesBanco to repurchase mortgages sold if the borrower exceeds certain delinquency metrics within the first year. The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: December 31, (in thousands) 2015 2014 Lines of credit $ 1,159,769 $ 984,352 Loans approved but not closed 234,599 116,757 Overdraft limits 106,252 95,965 Letters of credit 27,408 23,362 Contingent obligations to purchase loans funded by other entities 18,079 8,312 Contingent Liabilities— |
WesBanco Bank Community Develop
WesBanco Bank Community Development Corporation | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
WesBanco Bank Community Development Corporation | NOTE 18. WESBANCO BANK COMMUNITY DEVELOPMENT CORPORATION WesBanco Bank Community Development Corporation (“WBCDC”), a consolidated subsidiary of WesBanco Bank, is a Certified Development Entity (“CDE”) with $60.0 million of New Markets Tax Credits (“NMTC”) all of which had been invested in WBCDC at December 31, 2015. The NMTC program is administered by the Community Development Financial Institutions Fund of the U.S. Treasury and is aimed at stimulating economic and community development and job creation in low-income communities. The program provides federal tax credits to investors who make qualified equity investments (“QEIs”) in a CDE. The CDE is required to invest the proceeds of each QEI in low-income communities, which are generally defined as those census tracts with poverty rates greater than 20% and/or median family incomes that are less than or equal to 80% of the area median family income. The credit provided to the investor totals 39% of each QEI in a CDE and is claimed over a seven-year credit allowance period. In each of the first three years, the investor receives a credit equal to 5% of the total amount the investor paid to the CDE for each QEI. For each of the remaining four years, the investor receives a credit equal to 6% of the total amount the investor paid to the CDE for each QEI. As of December 31, 2015, WesBanco has received $19.7 million in tax credits over the seven-year credit allowance periods for its $60.0 million NMTC authority invested in WBCDC. WesBanco is eligible to receive an additional $3.7 million in tax credits as set forth in the following table with respect to aggregate QEI amounts invested with a remaining seven-year credit allowance period. WesBanco Bank recognized $1.9 million, $2.3 million and $2.2 million in NMTC in its income tax provision for the years ended December 31, 2015, 2014 and 2013, respectively. These tax credits are subject to certain general business tax credit limitations, as well as the alternative minimum tax, and are therefore limited in deductibility currently due to the applicability of alternative minimum tax on WesBanco’s federal income tax return. A total of $5.0 million of such NMTC have been carried forward to future tax years. (in thousands) Aggregate QEI New Markets Tax Credit Year 2016 2017 2018 2019 2010 $ 14,000 $ 840 $ — $ — $ — 2011 5,000 300 300 — — 2012 6,000 360 360 360 — 2013 5,000 300 300 300 300 Total $ 30,000 $ 1,800 $ 960 $ 660 $ 300 (1) The seven-year credit allowance period has expired for $30.0 million in QEI investments in WBCDC. The NMTC claimed by WesBanco Bank with respect to each QEI remain subject to recapture over each QEI’s credit allowance period upon the occurrence of any of the following: • if less than substantially all (generally defined as 85%) of the QEI proceeds are not used by WBCDC to make qualified low income community investments; • WBCDC ceases to be a CDE; or • WBCDC redeems its QEI investment prior to the end of the current credit allowance periods. At December 31, 2015, 2014 and 2013 none of the above recapture events had occurred, nor in the opinion of management are such events anticipated to occur in the foreseeable future. The following condensed financial statements summarize the financial position of WBCDC as of December 31, 2015, and the results of its operations and cash flows for the year ended December 31, 2015: BALANCE SHEET (in thousands) December 31, 2015 Assets Cash and due from banks $ 26,317 Loans, net of allowance for loan losses of $217 42,958 Investments 1,062 Other assets 1,043 Total Assets $ 71,380 Liabilities $ 250 Shareholder Equity 71,130 Total Liabilities and Shareholder Equity $ 71,380 STATEMENT OF INCOME (in thousands) For the year ended December 31, 2015 Interest income Loans $ 1,434 Total interest income 1,434 Recovery of loan losses (32 ) Net interest income after provision for loan losses 1,466 Non-interest income 82 Non-interest expense 6 Income before provision for income taxes 1,542 Provision for income taxes 574 Net income $ 968 STATEMENT OF CASH FLOWS For the year ended December 31, 2015 (in thousands) Operating Activities Net income $ 968 Recovery of loan losses (32 ) Gain on investments (82 ) Net change in other assets (513 ) Net change in other liabilities (44 ) Net cash provided by operating activities 297 Investing Activities Decrease in loans 1,750 Net cash provided by investing activities 1,750 Financing Activities Qualified equity investment by parent company — Net cash provided by financing activities — Net increase in cash and cash equivalents 2,047 Cash and cash equivalents at beginning of year 24,270 Cash and cash equivalents at end of year $ 26,317 |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Transactions with Related Parties | NOTE 19. TRANSACTIONS WITH RELATED PARTIES Certain directors and officers (including their affiliates, families and entities in which they are principal owners) of WesBanco and its subsidiaries are customers of, or suppliers to, those subsidiaries and have had, and are expected to have, transactions with the subsidiaries in the ordinary course of business. In addition, certain directors are also directors or officers of corporations that are customers of, or suppliers to, the Bank and have had, and are expected to have, transactions with the Bank in the ordinary course of business. In the opinion of management, such transactions are consistent with prudent banking practices and are within applicable banking regulations. Indebtedness of related parties aggregated approximately $9.6 million, $4.4 million and $4.7 million as of December 31, 2015, 2014, and 2013, respectively. During 2015, $8.8 million in related party loans were funded and $3.6 million were repaid or no longer related. At December 31, 2015, 2014 and 2013, none of the outstanding related party loans were past due 90 days or more, on non-accrual, or considered to be a TDR. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | NOTE 20. REGULATORY MATTERS The Federal Reserve Bank is the primary regulator for the parent company, WesBanco. WesBanco Bank is a state non-member bank jointly regulated by the FDIC and the West Virginia Department of Banking. WesBanco is a legal entity separate and distinct from its subsidiaries and is dependent upon dividends from its subsidiary bank, WesBanco Bank, to provide funds for the payment of dividends to shareholders, fund its current stock repurchase plan and to provide for other cash requirements. The payment of dividends by WesBanco Bank to WesBanco is subject to state and federal banking regulations. Under applicable law, bank regulatory agency approval is required if the total of all dividends declared by a bank in any calendar year exceeds the available retained earnings or exceeds the aggregate of the bank’s net profits (as defined by regulatory agencies) for that year and its retained net profits for the preceding two years. As of December 31, 2015, under FDIC regulations, WesBanco could receive, without prior regulatory approval, a dividend of up to $51.3 million from WesBanco Bank. WesBanco and WesBanco Bank are also required to maintain non-interest bearing reserve balances with the Federal Reserve Bank. The average required reserve balance was $5.0 million during 2015 and 2014. Additionally, WesBanco and WesBanco Bank are subject to various regulatory capital requirements (risk-based capital ratios) administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by the regulators that, if undertaken, could have a material adverse effect on WesBanco’s financial results. All bank holding companies and banking subsidiaries are required to have common equity Tier 1 (“CET1”) of at least 4.5%, core capital (“Tier 1”) of at least 6% of risk-weighted assets, total capital of at least 8% of risk-weighted assets, and a minimum Tier 1 leverage ratio of 4%. Tier 1 capital consists principally of shareholders’ equity; excluding items recorded in accumulated other comprehensive income, less goodwill and other intangibles. Total capital consists of Tier 1 capital plus the allowance for loan losses subject to limitation. The regulations also define “well-capitalized” levels of CET1, Tier 1 risk-based capital, total risk-based capital, and Tier 1 leverage capital as 6.5%, 8%, 10%, and 5%, respectively. WesBanco and WesBanco Bank were categorized as “well-capitalized” under the Federal Deposit Insurance Corporation Improvement Act at December 31, 2015 and 2014. There are no conditions or events since December 31, 2015 that management believes have changed WesBanco’s “well-capitalized” category. The Basel III capital standards effective January 1, 2015 with a phase-in period ending January 1, 2019, establishes the minimum capital levels required under the Dodd-Frank Act, permanently grandfathers trust preferred securities as tier 1 capital issued before May 19, 2010 for bank holding companies under $15 billion, and increases the capital required for certain categories of assets. WesBanco currently has $106.2 million in junior subordinated debt in its Consolidated Balance Sheets presented as a separate category of long-term debt. For regulatory purposes, trust preferred securities totaling $103.0 million, issued by unconsolidated trust subsidiaries of WesBanco underlying such junior subordinated debt, are included in Tier 1 capital in accordance with current regulatory reporting requirements. The grandfather provision of the Dodd-Frank Act permits bank holding companies with consolidated assets of less than $15 billion, such as WesBanco, to continue counting existing trust preferred securities as Tier 1 capital until they mature. The following table summarizes risk-based capital amounts and ratios for WesBanco and the Bank: December 31, 2015 December 31, 2014 (dollars in thousands) Minimum Well Amount Ratio Minimum Amount Ratio Minimum WesBanco, Inc. Tier 1 leverage 4.00 % 5.00 % $ 751,748 9.38 % $ 320,575 $ 593,031 9.88 % $ 240,068 Common equity Tier 1 (3) 4.50 % 6.50 % 656,911 11.66 % 253,418 N/A N/A N/A Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 751,748 13.35 % 337,891 593,031 13.76 % 172,357 Total capital to risk-weighted assets 8.00 % 10.00 % 794,643 14.11 % 450,521 638,064 14.81 % 344,714 WesBanco Bank, Inc. Tier 1 leverage 4.00 % 5.00 % $ 701,384 8.77 % $ 320,020 $ 516,689 8.63 % $ 239,533 Common equity Tier 1 (3) 4.50 % 6.50 % 701,384 12.49 % 252,793 N/A N/A N/A Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 701,384 12.49 % 337,057 516,689 12.04 % 171,612 Total capital to risk-weighted assets 8.00 % 10.00 % 743,923 13.24 % 449,409 561,369 13.08 % 343,225 (1) Minimum requirements to remain adequately capitalized. Minimums prior to January 1, 2015 were 4.00% for Tier 1 leverage and Tier 1 capital and 8.00% for total capital. (2) Well capitalized under prompt corrective action regulations. (3) The common equity Tier 1 ratio is a new regulatory ratio as of January 1, 2015, as the regulatory agencies adopted new guidelines for such ratio as a result of international adoption of the BASEL III regulatory capital accords in 2013. |
Condensed Parent Company Financ
Condensed Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Parent Company Financial Statements | NOTE 21. CONDENSED PARENT COMPANY FINANCIAL STATEMENTS Presented below are the Condensed Balance Sheets, Statements of Income and Statements of Cash Flows for the parent company: BALANCE SHEETS December 31, (in thousands) 2015 2014 ASSETS Cash and short-term investments $ 33,172 $ 61,732 Investment in subsidiaries—Bank 1,175,005 814,227 Investment in subsidiaries—Nonbank 5,604 5,343 Securities available-for-sale, at fair value 1,891 2,189 Other assets 21,817 17,553 Total Assets $ 1,237,489 $ 901,044 LIABILITIES Junior subordinated debt owed to unconsolidated subsidiary trusts $ 106,196 $ 106,176 Dividends payable and other liabilities 9,161 6,678 Total Liabilities 115,357 112,854 SHAREHOLDERS’ EQUITY 1,122,132 788,190 Total Liabilities and Shareholders’ Equity $ 1,237,489 $ 901,044 STATEMENTS OF INCOME For the years ended December 31, (in thousands) 2015 2014 2013 Dividends from subsidiaries—Bank $ 60,000 $ 59,500 $ 42,000 Dividends from subsidiaries—Nonbank 500 1,200 860 Income from securities 75 128 194 Net securities gain — 745 6 Other income 104 416 67 Total income 60,679 61,989 43,127 Total expense 8,862 7,139 5,810 Income before income tax benefit and undistributed net income of subsidiaries 51,817 54,850 37,317 Income tax benefit (2,971 ) (2,006 ) (2,132 ) Income before undistributed net income of subsidiaries 54,788 56,856 39,449 Equity in undistributed net income of subsidiaries 25,974 13,118 24,476 NET INCOME $ 80,762 $ 69,974 $ 63,925 The details of other comprehensive income and accumulated other comprehensive income are included in the consolidated financial statements. STATEMENTS OF CASH FLOWS For the years ended December 31, (in thousands) 2015 2014 2013 OPERATING ACTIVITIES Net income $ 80,762 $ 69,974 $ 63,925 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income (25,974 ) (13,118 ) (24,476 ) Gain on securities — (745 ) (6 ) (Increase) decrease in other assets 199 1,908 (1,957 ) Other—net 1,657 1,968 1,975 Net cash provided by operating activities 56,644 59,987 39,461 INVESTING ACTIVITIES Proceed from sales —securities available-for-sale 210 1,990 1,009 Acquisitions and additional capitalization of subsidiaries, net of cash acquired 1,465 — (104 ) Net cash (used in) provided by investing activities 1,675 1,990 905 FINANCING ACTIVITIES Repayment of junior subordinated debt (36,083 ) — (7,732 ) Repayment of other borrowings (13,000 ) — — Issuance of common stock — — 2,539 Repurchase of common stock warrant (2,247 ) — — Treasury shares (purchased) sold—net (2,542 ) 1,918 (6,170 ) Dividends paid to common and preferred shareholders (33,007 ) (25,136 ) (22,243 ) Net cash used in financing activities (86,879 ) (23,218 ) (33,606 ) Net (decrease) increase in cash and cash equivalents (28,560 ) 38,759 6,760 Cash and short-term investments at beginning of year 61,732 22,973 16,213 Cash and short-term investments at end of year $ 33,172 $ 61,732 $ 22,973 |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 22. 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 of the trust and investment services segment was approximately $3.6 billion, $3.8 billion and $3.7 billion at December 31, 2015, 2014, and 2013, respectively. These assets are held by WesBanco, in fiduciary or agency capacities for their customers and therefore are not included as assets on WesBanco’s Consolidated Balance Sheets. Condensed financial information by business segment is presented below: (in thousands) Community Banking Trust and Consolidated For the year ended December 31, 2015: Interest and dividend income $ 261,712 $ — $ 261,712 Interest expense 24,725 — 24,725 Net interest income 236,987 — 236,987 Provision for credit losses 8,353 — 8,353 Net interest income after provision for credit losses 228,634 — 228,634 Non-interest income 52,566 21,900 74,466 Non-interest expense 181,821 12,102 193,923 Income before provision for income taxes 99,379 9,798 109,177 Provision for income taxes 24,496 3,919 28,415 Net income $ 74,883 $ 5,879 $ 80,762 For the year ended December 31, 2014: Interest and dividend income $ 215,991 $ — $ 215,991 Interest expense 22,763 — 22,763 Net interest income 193,228 — 193,228 Provision for credit losses 6,405 — 6,405 Net interest income after provision for credit losses 186,823 — 186,823 Non-interest income 47,435 21,069 68,504 Non-interest expense 149,429 12,204 161,633 Income before provision for income taxes 84,829 8,865 93,694 Provision for income taxes 20,174 3,546 23,720 Net income $ 64,655 $ 5,319 $ 69,974 For the year ended December 31, 2013: Interest and dividend income $ 217,890 $ — $ 217,890 Interest expense 32,403 — 32,403 Net interest income 185,487 — 185,487 Provision for credit losses 9,086 — 9,086 Net interest income after provision for credit losses 176,401 — 176,401 Non-interest income 49,708 19,577 69,285 Non-interest expense 149,136 11,862 160,998 Income before provision for income taxes 76,973 7,715 84,688 Provision for income taxes 17,677 3,086 20,763 Net income $ 59,296 $ 4,629 $ 63,925 Total non-fiduciary assets of the trust and investment services segment were $3.3 million, $4.0 million, and $3.9 million at December 31, 2015, 2014, and 2013, respectively. All other assets, including goodwill and other intangible assets, were allocated to the community banking segment. |
Condensed Quarterly Statements
Condensed Quarterly Statements of Income (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Condensed Quarterly Statements of Income (Unaudited) | NOTE 23. CONDENSED QUARTERLY STATEMENTS OF INCOME (UNAUDITED) The following tables set forth unaudited consolidated selected quarterly statements of income for the years ended December 31, 2015 and 2014. 2015 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 60,379 $ 66,729 $ 66,935 $ 67,660 $ 261,712 Interest expense 5,424 5,936 6,326 7,040 24,725 Net interest income 54,955 60,793 60,609 60,620 236,987 Provision for credit losses 1,289 2,681 1,798 2,585 8,353 Net interest income after provision for credit losses 53,666 58,112 58,811 58,035 228,634 Non-interest income 18,168 18,072 18,139 19,146 73,518 Net securities gains 22 — 47 880 948 Non-interest expense 53,441 46,589 46,981 46,894 193,923 Income before provision for income taxes 18,415 29,595 30,016 31,167 109,177 Provision for income taxes 4,528 7,962 7,768 8,165 28,415 Net income $ 13,887 $ 21,633 $ 22,248 $ 23,002 $ 80,762 Earnings per common share—basic $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 Earnings per common share—diluted $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 2014 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 53,457 $ 54,044 $ 54,303 $ 54,185 $ 215,991 Interest expense 6,132 5,737 5,692 5,199 22,763 Net interest income 47,325 48,307 48,611 48,986 193,228 Provision for credit losses 2,199 849 1,478 1,880 6,405 Net interest income after provision for credit losses 45,126 47,458 47,133 47,106 186,823 Non-interest income 17,039 18,076 16,073 16,413 67,601 Net securities gains 10 165 581 147 903 Non-interest expense 40,095 40,304 39,263 41,972 161,633 Income before provision for income taxes 22,080 25,395 24,524 21,694 93,694 Provision for income taxes 5,659 6,520 6,358 5,182 23,720 Net income $ 16,421 $ 18,875 $ 18,166 $ 16,512 $ 69,974 Earnings per common share—basic $ 0.56 $ 0.65 $ 0.62 $ 0.56 $ 2.39 Earnings per common share—diluted $ 0.56 $ 0.64 $ 0.62 $ 0.56 $ 2.39 |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations— |
Use of Estimates | Use of Estimates— |
Principles of Consolidation | Principles of Consolidation— WesBanco determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. A voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make financial and operating decisions. WesBanco consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%) of the voting interest. |
Variable Interest Entities | Variable Interest Entities A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE. A VIE often holds financial assets, including loans or receivables, real estate or other property. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. WesBanco has eight wholly-owned trust subsidiaries (collectively, the “Trusts”), for which it does not absorb a majority of expected losses or receive a majority of the expected residual returns. Accordingly, the Trusts and their net assets are not included in the Consolidated Financial Statements. However, the junior subordinated deferrable interest debentures issued by WesBanco to the Trusts (refer to Note 11, “Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts”) and the common stock issued by the Trusts is included in the Consolidated Balance Sheets. WesBanco also owns non-controlling variable interests in certain limited partnerships for which it does not absorb a majority of expected losses or receive a majority of expected residual returns which are not included in the Consolidated Financial Statements. Refer to Note 8, “Investments in Limited Partnerships” for further detail. |
Revenue Recognition | Revenue Recognition— |
Cash and Cash Equivalents | Cash and Cash Equivalents— |
Securities | Securities— Available-for-sale securities: Held-to-maturity securities: Cost method investments: Securities acquired in acquisitions are recorded at fair value with the premium or discount derived from the fair market value adjustment recognized into interest income on a level yield basis over the remaining life of the security. Gains and losses: Amortization and accretion: Other-than-temporary impairment losses: |
Loans and Loans Held for Sale | Loans and Loans Held for Sale— Loans acquired in acquisitions are recorded at fair value with no carryover of related allowance for credit losses. The premium or discount derived from the fair market value adjustment is recognized into interest income using a level yield method over the remaining expected life of the loan. Refer to the “Acquired Loans” policy below for additional detail. Loan origination fees and direct costs are deferred and accreted or amortized into interest income, as an adjustment to the yield, over the life of the loan using the level yield method. When a loan is paid off, the remaining unaccreted or unamortized net origination fees or costs are immediately recognized into income. Loans are generally placed on non-accrual when they are 90 days past due, unless the loan is well-secured and in the process of collection. Loans may be returned to accrual status when a borrower has resumed paying principal and interest for a sustained period of at least six months and the Bank is reasonably assured of collecting the remaining contractual principal and interest. Loans are returned to accrual status at an amount equal to the principal balance of the loan at the time of non-accrual status less any payments applied to principal during the non-accrual period. Loans are reported as a troubled debt restructuring when WesBanco for economic or legal reasons related to a borrower’s financial difficulties grants a concession to the borrower that it would not otherwise consider. Refer to the “Troubled Debt Restructuring” policy below for additional detail. A loan is considered impaired, based on current information and events, if it is probable that WesBanco will be unable to collect the payments of principal and interest when due according to the contractual terms of the loan agreement. Impaired loans include all non-accrual loans and troubled debt restructurings. WesBanco recognizes interest income on non-accrual loans on the cash basis only if recovery of principal is reasonably assured. Consumer loans are charged down to the net realizable value at 120 days past due for closed-end loans and 180 days past due for open-end revolving lines of credit. Residential real estate loans are charged down to the net realizable value of the collateral at 180 days past due. Commercial loans are charged down to the net realizable value when it is determined that WesBanco will be unable to collect the principal amount in full. Loans are reclassified to other assets at the net realizable value when foreclosure or repossession of the collateral occurs. Refer to the “Other Real Estate Owned and Repossessed Assets” policy below for additional detail. |
Acquired Loans | Acquired Loans Loans acquired with deteriorated credit quality are accounted for in accordance with ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (ASC 310-30) if, at acquisition, the loans have evidence of credit quality deterioration since origination and it is probable that all contractually required payments will not be collected. At acquisition, WesBanco considers several factors as indicators that an acquired loan has evidence of deterioration in credit quality. These factors include loans 90 days or more past due, loans with an internal risk grade of substandard or below, loans classified as non-accrual by the acquired institution, and loans that have been previously modified in a troubled debt restructuring. Under the ASC 310-30 model, the excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield and is the interest component of expected cash flow. The accretable yield is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonably estimated. If the timing or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition is used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which WesBanco does not expect to collect. Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized in interest income on a prospective basis over the loan’s remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, Nonrefundable Fees and Other Costs (ASC 310-20), whereby the premium or discount derived from the fair market value adjustment, on a loan-by-loan or pooled basis, is recognized into interest income on a level yield basis over the remaining expected life of the loan or pool. |
Allowance for Credit Losses | Allowance for Credit Losses— The evaluation includes an assessment of quantitative factors such as actual loss experience within each category of loans and testing of certain commercial loans for impairment. The evaluation also considers qualitative factors such as economic trends and conditions, which includes levels of unemployment, real estate values and the impact on specific industries and geographical markets, changes in lending policies and underwriting standards, delinquency and other credit quality trends, concentrations of credit risk, if any, the results of internal loan reviews and examinations by bank regulatory agencies, the volatility of historical loss rates, the velocity of changes in historical loss rates, and regulatory guidance pertaining to the allowance for credit losses. Management relies on observable data from internal and external sources to the extent it is available to evaluate each of these factors and adjusts the actual historical loss rates to reflect the impact these factors may have on probable losses in the portfolio. Commercial real estate and commercial and industrial loans greater than $1 million that are reported as non-accrual or as a troubled debt restructuring are tested individually for impairment. Specific reserves are established when appropriate for such loans based on the present value of expected future cash flows of the loan or the estimated realizable value of the collateral, if any. General reserves are established for loans that are not individually tested for impairment based on historical loss rates adjusted for the impact of the qualitative factors discussed above. Historical loss rates for commercial real estate and commercial and industrial loans are determined for each internal risk grade or group of pass grades using a migration analysis. Historical loss rates for commercial real estate land and construction, residential real estate, home equity and consumer loans that are not risk graded are determined for the total of each category of loans. Historical loss rates for deposit account overdrafts are based on actual losses in relation to average overdrafts for the period. Management may also adjust its assumptions to account for differences between estimated and actual incurred losses from period to period. The variability of management’s assumptions could alter the level of the allowance for credit losses and may have a material impact on future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced; however, there have been no material substantive changes compared to prior periods. |
Troubled Debt Restructurings ("TDR") | Troubled Debt Restructurings (“TDR”) When determining whether a debtor is experiencing financial difficulties, consideration is given to any known default on any of its debt or whether it is probable that the debtor would be in payment default in the foreseeable future without the modification. Other indicators of financial difficulty include whether the debtor has declared or is in the process of declaring bankruptcy, the debtor’s ability to continue as a going concern, or the debtor’s projected cash flow to service its debt (including principal & interest) in accordance with the contractual terms for the foreseeable future, without a modification. If the payment of principal at original maturity is primarily dependent on the value of collateral, the current value of that collateral is considered in determining whether the principal will be paid. The restructuring of a loan does not have a material effect on the allowance or provision for credit losses as the internal risk grade of a loan has more influence on the allowance than the classification of a loan as a TDR. The internal risk rating is the primary factor for establishing the allowance for commercial loans, including commercial real estate except for loans that are individually evaluated for impairment, in which case a specific reserve is established pursuant to GAAP. Portfolio segment loss history is the primary factor for establishing the allowance for residential real estate, home equity and consumer loans. Non-accrual loans that are restructured remain on non-accrual, but may move to accrual status after they have performed according to the restructured terms for a period of time. TDRs on accrual status generally remain on accrual as long as they continue to perform in accordance with their modified terms. TDRs may also be placed on non-accrual if they do not perform in accordance with the restructured terms. Loans may be removed from TDR status after they have performed according to the renegotiated terms for a period of time if the interest rate under the modified terms is at or above market, or if the loan returns to its original terms. |
Mortgage Servicing Rights | Mortgage Servicing Rights— |
Premises and Equipment | Premises and Equipment— |
Other Real Estate Owned and Repossessed Assets | Other Real Estate Owned and Repossessed Assets— |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets— Goodwill is not amortized but is evaluated for impairment annually, or more often if events or circumstances indicate it may be impaired. Finite-lived intangible assets, which consist primarily of core deposit and customer list intangibles (long-term customer-relationship intangible assets) are amortized using straight-line and accelerated methods over their weighted-average estimated useful lives, ranging from ten to sixteen years in total, and are tested for impairment whenever events or circumstances indicate that their carrying amount may not be recoverable. Non-compete agreements are recognized in other assets on the balance sheet and are amortized on a straight line basis over the life of the respective agreements, ranging from one to four years. Goodwill is evaluated for impairment by either assessing qualitative factors to determine whether it is necessary to perform the two-step goodwill impairment test, or WesBanco may elect to perform the two-step goodwill impairment test. Under the qualitative assessment, WesBanco assesses qualitative factors to determine whether it is more likely than not that the fair value of its reporting units are less than their carrying amounts, including goodwill. If it is more likely than not, the two-step goodwill impairment test is used to identify potential goodwill impairment and measure the amount of a goodwill impairment loss to be recognized, if any. In the first step, the estimated fair value of each reporting unit is compared to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, the goodwill of that reporting unit is not considered impaired, and no impairment loss is recognized. However, if the carrying amount of the reporting unit exceeds its fair value, step two, which involves comparing the implied fair value of goodwill to its carrying value, is completed and to the extent that the carrying value of goodwill exceeds its implied fair value, an impairment loss is recognized. Intangible assets with finite useful lives are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of an intangible asset with a finite useful life is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the fair value of the asset. WesBanco does not have any indefinite-lived intangible assets. |
Bank-Owned Life Insurance | Bank-Owned Life Insurance— |
Interest Rate Lock Commitments | Interest Rate Lock Commitments— |
Income Taxes | Income Taxes— |
Fair Value | Fair Value— Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques where all significant assumptions are observable, either directly or indirectly, in the market; Level 3—Valuation is generated from model-based techniques where all significant assumptions are not observable, either directly or indirectly, in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques may include use of discounted cash flow models and similar techniques. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. |
Earnings Per Common Share | Earnings Per Common Share— |
Trust Assets | Trust Assets— |
Stock-Based Compensation | Stock-Based Compensation |
Defined Benefit Pension Plan | Defined Benefit Pension Plan |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In September, 2015, the FASB issued ASU 2015-16 which eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amounts, including the effect on earnings of any amounts they would have recorded in previous periods if the accounting had been completed at the acquisition date. The acquirer still must disclose the amounts and reasons for adjustments to the provisional amounts. The acquirer also must disclose, by line item, the amount of the adjustment reflected in the current-period income statement that would have been recognized in previous periods if the adjustment to provisional amounts had been recognized as of the acquisition date. Alternatively, an acquirer may present those amounts separately on the face of the income statement. Public business entities must apply the new requirements for fiscal years beginning after December 15, 2015, including interim periods with those fiscal years. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In May, 2015, the FASB issued ASU 2015-07 related to disclosures for investments in certain entities that calculate net asset value (NAV) per share (or its equivalent). This update removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient and modifies certain disclosure requirements. The update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015, and requires retrospective adoption. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In April, 2015, the FASB issued ASU 2015-05 that provides guidance on when to account for a cloud computing arrangement as a software license. The guidance applies only to internal-use software that a customer obtains access to in a hosting arrangement if both of the following criteria are met: (1) The customer has the contractual right to take possession of the software at any time during the hosting period without significant penalty, (2) it is feasible for the customer to either run the software on its own hardware or contract with another party unrelated to the vendor to host the software. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In February, 2015, the FASB issued ASU 2015-02 that revised the consolidation model, requiring reporting entities to reevaluate whether they should consolidate certain legal entities under the revised model. The amendments in this update modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, and eliminate the presumption that a general partner should consolidate and affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The pronouncement also provides for a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. In August, 2014, the FASB issued ASU 2014-14 related to the classification of certain government-guaranteed mortgage loans upon foreclosure. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based upon the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014 and may be adopted under either a modified retrospective transition method or a prospective transition method. However, the same method of transition as elected under ASU 2014-04 must be applied. While early adoption was permitted, WesBanco elected to adopt the ASU in the first quarter of 2015, which was the first interim period after December 31, 2014. The adoption of this pronouncement did not have a material impact on WesBanco’s Consolidated Financial Statements. In June, 2014, the FASB issued ASU 2014-11 related to repurchase-to-maturity transactions, repurchase financing and disclosures. The pronouncement changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The pronouncement also requires two new disclosures. The first disclosure requires an entity to disclose information on transfers accounted for as sales in transactions that are economically similar to repurchase agreements. The second disclosure provides increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. WesBanco adopted the ASU in the first quarter of 2015. The adoption of this pronouncement did not have a material impact on WesBanco’s Consolidated Financial Statements. In May, 2014, the FASB issued ASU 2014-09 related to the recognition of revenue from contracts with customers. The new revenue pronouncement creates a single source of revenue guidance for all companies in all industries and is more principles-based than current revenue guidance. The pronouncement provides a five-step model for a company to recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The five steps are, (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the separate performance obligations and (5) recognize revenue when each performance obligation is satisfied. The pronouncement was originally effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016 using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Early adoption was not permitted. On July 9, 2015, the FASB approved a one-year deferral of the effective date of the update. The update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. Early adoption is now permitted as of the original effective date for interim and annual reporting periods in fiscal years beginning after December 15, 2016. WesBanco is currently evaluating the impact of the adoption of this pronouncement on its Consolidated Financial Statements. |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Calculation of Purchase Price and Resulting Goodwill Relating to ESB Acquisition | The purchase price of the ESB acquisition and resulting goodwill is summarized as follows: (in thousands) February 10, 2015 Purchase Price: Fair value of WesBanco shares issued (net of equity issuance costs of $0.1 million) $ 293,933 Cash consideration for outstanding ESB shares, options and restricted stock 37,036 Settlement of pre-existing loan to ESB 8,000 Total purchase price $ 338,969 Fair value of: Tangible assets acquired $ 1,859,129 Core deposit and other intangible assets acquired 5,346 Liabilities assumed (1,702,444 ) Net cash received in the acquisition 8,485 Fair value of net assets acquired 170,516 Goodwill recognized $ 168,453 |
Summary of Fair Value of Net Assets that Wesbanco Acquired from ESB | The following table presents the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition. (in thousands) February 10, 2015 Assets Cash and due from banks $ 8,485 Securities 486,891 Loans 700,964 Goodwill and other intangible assets 173,798 Accrued income and other assets (1) 671,275 Total Assets $ 2,041,413 Liabilities Deposits $ 1,254,091 Borrowings 433,454 Accrued expenses and other liabilities 14,899 Total liabilities 1,702,444 Purchase price $ 338,969 (1) Includes receivables of $560.7 million from the sale of available-for-sale securities prior to the acquisition date. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Common Share | Earnings per common share are calculated as follows: For the years ended December 31, (in thousands, except shares and per share amounts) 2015 2014 2013 Numerator for both basic and diluted earnings per common share: Net income $ 80,762 $ 69,974 $ 63,925 Denominator: Total average basic common shares outstanding 37,488,331 29,249,499 29,270,922 Effect of dilutive stock options and warrant 58,796 84,377 73,761 Total diluted average common shares outstanding 37,547,127 29,333,876 29,344,683 Earnings per common share—basic $ 2.15 $ 2.39 $ 2.18 Earnngs per common share—diluted 2.15 2.39 2.18 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 shows the amortized cost and fair values of available-for-sale and held-to-maturity securities: December 31, 2015 December 31, 2014 (in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale Obligations of government agencies $ 82,725 $ 1,183 $ (403 ) $ 83,505 $ 86,964 $ 1,087 $ (315 ) $ 87,736 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,188,256 1,720 (13,896 ) 1,176,080 703,535 4,336 (6,758 ) 701,113 Obligations of states and political subdivisions 76,106 4,205 (46 ) 80,265 86,073 5,365 (5 ) 91,433 Corporate debt securities 58,745 181 (333 ) 58,593 25,974 141 (119 ) 25,996 Total debt securities $ 1,405,832 $ 7,289 $ (14,678 ) $ 1,398,443 $ 902,546 $ 10,929 $ (7,197 ) $ 906,278 Equity securities 10,263 816 (2 ) 11,077 10,304 842 — 11,146 Total available-for-sale securities $ 1,416,095 $ 8,105 $ (14,680 ) $ 1,409,520 $ 912,850 $ 11,771 $ (7,197 ) $ 917,424 Held-to-maturity Residential mortgage-backed securities and collateralized mortgage obligations of government agencies $ 216,419 $ 1,922 $ (2,014 ) $ 216,327 $ 79,004 $ 3,262 $ (246 ) $ 82,020 Obligations of states and political subdivisions 762,039 26,121 (726 ) 787,434 507,927 23,917 (1,043 ) 530,801 Corporate debt securities 34,472 237 (263 ) 34,446 6,739 106 (49 ) 6,796 Total held-to-maturity securities $ 1,012,930 $ 28,280 $ (3,003 ) $ 1,038,207 $ 593,670 $ 27,285 $ (1,338 ) $ 619,617 Total securities $ 2,429,025 $ 36,385 $ (17,683 ) $ 2,447,727 $ 1,506,520 $ 39,056 $ (8,535 ) $ 1,537,041 |
Schedule of Fair Value of Available-for-sale and Held-to-maturity Securities by Contractual Maturity | The following table presents the fair value of available-for-sale and held-to-maturity securities by contractual maturity at December 31, 2015. In many instances, the issuers may have the right to call or prepay obligations without penalty prior to the contractual maturity date. December 31, 2015 (in thousands) One Year One to Five to After Ten Years Mortgage-backed Total Available-for-sale Obligations of government agencies $ — $ 16,865 $ 38,382 $ 28,258 $ — $ 83,505 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) — — — — 1,176,080 1,176,080 Obligations of states and political subdivisions 7,684 21,210 38,302 13,069 — 80,265 Corporate debt securities 13,252 29,369 14,041 1,931 — 58,593 Equity securities (2) — — — — 11,077 11,077 Total available-for-sale securities $ 20,936 $ 67,444 $ 90,725 $ 43,258 $ 1,187,157 $ 1,409,520 Held-to-maturity (3) Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) $ — $ — $ — $ — $ 216,327 $ 216,327 Obligations of states and political subdivisions 1,706 39,229 367,308 379,191 — 787,434 Corporate debt securities — 888 33,558 — — 34,446 Total held-to-maturity securities $ 1,706 $ 40,117 $ 400,866 $ 379,191 $ 216,327 $ 1,038,207 Total securities $ 22,642 $ 107,561 $ 491,591 $ 422,449 $ 1,403,484 $ 2,447,727 (1) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. (2) Equity securities, which have no stated maturity, are not assigned a maturity category. (3) The held-to-maturity portfolio is carried at an amortized cost of $1.0 billion. |
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 securities for the years ended December 31, 2015, 2014 and 2013, respectively. For the Years Ended (in thousands) 2015 2014 2013 Gross realized gains $ 1,029 $ 1,131 $ 922 Gross realized losses (81 ) (228 ) (238 ) Net realized gains $ 948 $ 903 $ 684 |
Schedule of Unrealized Losses on Investment Securities | The following tables provide information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of December 31, 2015 and 2014: December 31, 2015 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized # of Fair Unrealized # of Fair Value Unrealized # of Obligations of government agencies $ 49,826 $ (403 ) 11 $ — $ — — $ 49,826 $ (403 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,003,397 (10,981 ) 187 146,182 (4,929 ) 31 1,149,579 (15,910 ) 218 Obligations of states and political subdivisions 58,705 (400 ) 76 23,691 (372 ) 29 82,396 (772 ) 105 Corporate debt securities 41,326 (541 ) 12 1,931 (55 ) 1 43,257 (596 ) 13 Equity securities 1,378 (2 ) 1 — — — 1,378 (2 ) 1 Total temporarily impaired securities $ 1,154,632 $ (12,327 ) 287 $ 171,804 $ (5,356 ) 61 $ 1,326,436 $ (17,683 ) 348 December 31, 2014 Less than 12 months 12 months or more Total (dollars in thousands) Fair Value Unrealized # of Fair Unrealized # of Fair Value Unrealized # of Obligations of government agencies $ 19,362 $ (77) 5 $ 19,757 $ (238 ) 4 $ 39,119 $ (315) 9 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 78,786 (386 ) 19 240,055 (6,618 ) 43 318,841 (7,004 ) 62 Obligations of states and political subdivisions 12,615 (96 ) 15 61,548 (952 ) 93 74,163 (1,048 ) 108 Corporate debt securities 2,969 (31 ) 1 4,573 (137 ) 2 7,542 (168 ) 3 Total temporarily impaired securities $ 113,732 $ (590 ) 40 $ 325,933 $ (7,945 ) 142 $ 439,665 $ (8,535 ) 182 |
Loans and the Allowance for C36
Loans and the Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 of $1.0 million and $2.4 million at December 31, 2015 and 2014, respectively. December 31, December 31, (in thousands) 2015 2014 Commercial real estate: Land and construction $ 344,748 $ 262,643 Improved property 1,911,633 1,682,817 Total commercial real estate 2,256,381 1,945,460 Commercial and industrial 737,878 638,410 Residential real estate 1,247,800 928,770 Home equity 416,889 330,031 Consumer 406,894 244,095 Total portfolio loans 5,065,842 4,086,766 Loans held for sale 7,899 5,865 Total loans $ 5,073,741 $ 4,092,631 |
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: For the Year Ended December 31, 2015 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 5,654 $ 17,573 $ 9,063 $ 5,382 $ 2,329 $ 4,078 $ 575 $ 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total beginning allowance for credit losses 5,848 17,583 9,175 5,391 2,419 4,118 575 45,109 Provision for credit losses: Provision for loan losses (1,265 ) 1,250 3,289 399 1,794 2,337 391 8,195 Provision for loan commitments (37 ) 16 148 (2 ) 27 6 — 158 Total provision for credit losses (1,302 ) 1,266 3,437 397 1,821 2,343 391 8,353 Charge-offs — (4,915 ) (2,785 ) (1,803 ) (1,502 ) (2,892 ) (846 ) (14,743 ) Recoveries 1 840 435 604 262 1,240 222 3,604 Net charge-offs 1 (4,075 ) (2,350 ) (1,199 ) (1,240 ) (1,652 ) (624 ) (11,139 ) Balance at end of period: Allowance for loan losses 4,390 14,748 10,002 4,582 2,883 4,763 342 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total ending allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 For the Year Ended December 31, 2014 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 6,056 $ 18,157 $ 9,925 $ 5,673 $ 2,017 $ 5,020 $ 520 $ 47,368 Allowance for loan commitments 301 62 130 5 85 19 — 602 Total beginning allowance for credit losses 6,357 18,219 10,055 5,678 2,102 5,039 520 47,970 Provision for credit losses: Provision for loan losses (402 ) 1,239 1,429 1,692 849 1,144 601 6,552 Provision for loan commitments (107 ) (52 ) (18 ) 4 5 21 — (147 ) Total provision for credit losses (509 ) 1,187 1,411 1,696 854 1,165 601 6,405 Charge-offs — (2,426 ) (3,485 ) (2,437 ) (652 ) (3,120 ) (779 ) (12,899 ) Recoveries — 603 1,194 454 115 1,034 233 3,633 Net charge-offs — (1,823 ) (2,291 ) (1,983 ) (537 ) (2,086 ) (546 ) (9,266 ) Balance at end of period: Allowance for loan losses 5,654 17,573 9,063 5,382 2,329 4,078 575 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total ending allowance for credit losses $ 5,848 $ 17,583 $ 9,175 $ 5,391 $ 2,419 $ 4,118 $ 575 $ 45,109 For the Year Ended December 31, 2013 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 3,741 $ 23,614 $ 9,326 $ 7,182 $ 2,458 $ 5,557 $ 821 $ 52,699 Allowance for loan commitments 27 25 215 6 49 19 — 341 Total beginning allowance for credit losses 3,768 23,639 9,541 7,188 2,507 5,576 821 53,040 Provision for credit losses: Provision for loan losses 2,726 843 1,633 1,169 (8 ) 2,138 324 8,825 Provision for loan commitments 274 37 (85 ) (1 ) 36 — — 261 Total provision for credit losses 3,000 880 1,548 1,168 28 2,138 324 9,086 Charge-offs (536 ) (6,915 ) (1,505 ) (3,079 ) (549 ) (3,819 ) (880 ) (17,283 ) Recoveries 125 615 471 401 116 1,144 255 3,127 Net charge-offs (411 ) (6,300 ) (1,034 ) (2,678 ) (433 ) (2,675 ) (625 ) (14,156 ) Balance at end of period: Allowance for loan losses 6,056 18,157 9,925 5,673 2,017 5,020 520 47,368 Allowance for loan commitments 301 62 130 5 85 19 — 602 Total ending allowance for credit losses $ 6,357 $ 18,219 $ 10,055 $ 5,678 $ 2,102 $ 5,039 $ 520 $ 47,970 |
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: Allowance for Credit Losses and Recorded Investment in Loans (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total December 31, 2015 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 668 $ 853 $ — $ — $ — $ — $ 1,521 Allowance for loans collectively evaluated for impairment 4,390 14,080 9,149 4,582 2,883 4,763 342 40,189 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 Portfolio loans: Individually evaluated for impairment (1) $ — $ 4,031 $ 4,872 $ — $ — $ — $ — $ 8,903 Collectively evaluated for impairment 343,832 1,899,738 732,957 1,247,639 416,862 406,622 — 5,047,650 Acquired with deteriorated credit quality 916 7,864 49 161 27 272 — 9,289 Total portfolio loans $ 344,748 $ 1,911,633 $ 737,878 $ 1,247,800 $ 416,889 $ 406,894 $ — $ 5,065,842 December 31, 2014 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 2,765 $ 1,033 $ — $ — $ — $ — $ 3,798 Allowance for loans collectively evaluated for impairment 5,654 14,808 8,030 5,382 2,329 4,078 575 40,856 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total allowance for credit losses $ 5,848 $ 17,583 $ 9,175 $ 5,391 $ 2,419 $ 4,118 $ 575 $ 45,109 Portfolio loans: Individually evaluated for impairment (1) $ — $ 11,469 $ 2,844 $ — $ — $ — $ — $ 14,313 Collectively evaluated for impairment 262,643 1,671,348 635,566 928,770 330,031 244,095 — 4,072,453 Total portfolio loans $ 262,643 $ 1,682,817 $ 638,410 $ 928,770 $ 330,031 $ 244,095 $ — $ 4,086,766 (1) Commercial loans greater than $1 million that are reported as non-accrual or as a TDR are individually evaluated for impairment. |
Summary of Commercial Loans by Risk Grade | The following tables summarize commercial loans by their assigned risk grade: Commerical Loans by Internally Assigned Risk Grade (in thousands) Commercial Commercial Commercial Total As of December 31, 2015 Pass $ 335,989 $ 1,864,986 $ 713,578 $ 2,914,553 Criticized—compromised 5,527 10,911 9,860 26,298 Classified—substandard 3,232 35,736 14,440 53,408 Classified—doubtful — — — — Total $ 344,748 $ 1,911,633 $ 737,878 $ 2,994,259 As of December 31, 2014 Pass $ 257,218 $ 1,627,771 $ 617,742 $ 2,502,731 Criticized—compromised 3,645 17,873 12,770 34,288 Classified—substandard 1,780 37,173 7,898 46,851 Classified—doubtful — — — — Total $ 262,643 $ 1,682,817 $ 638,410 $ 2,583,870 |
Summary of Age Analysis of Loan Categories | The following tables summarize the age analysis of all categories of loans. Age Analysis of Loans (in thousands) Current 30-59 Days 60-89 Days 90 Days Total Total Loans 90 Days or More As of December 31, 2015 Commercial real estate: Land and construction $ 344,184 $ — $ — $ 564 $ 564 $ 344,748 $ — Improved property 1,901,466 909 1,097 8,161 10,167 1,911,633 — Total commercial real estate 2,245,650 909 1,097 8,725 10,731 2,256,381 — Commercial and industrial 734,660 298 714 2,206 3,218 737,878 33 Residential real estate 1,234,839 1,389 2,871 8,701 12,961 1,247,800 2,159 Home equity 412,450 2,252 314 1,873 4,439 416,889 407 Consumer 401,242 4,115 764 773 5,652 406,894 527 Total portfolio loans 5,028,841 8,963 5,760 22,278 37,001 5,065,842 3,126 Loans held for sale 7,899 — — — — 7,899 — Total loans $ 5,036,740 $ 8,963 $ 5,760 $ 22,278 $ 37,001 $ 5,073,741 $ 3,126 Impaired loans included above are as follows: Non-accrual loans $ 11,349 $ 943 $ 2,147 $ 18,942 $ 22,032 $ 33,381 TDRs accruing interest (1) 10,710 390 238 210 838 11,548 Total impaired $ 22,059 $ 1,333 $ 2,385 $ 19,152 $ 22,870 $ 44,929 As of December 31, 2014 Commercial real estate: Land and construction $ 261,356 $ 20 $ — $ 1,267 $ 1,287 $ 262,643 $ 71 Improved property 1,665,363 961 4,772 11,721 17,454 1,682,817 — Total commercial real estate 1,926,719 981 4,772 12,988 18,741 1,945,460 71 Commercial and industrial 634,482 1,834 240 1,854 3,928 638,410 22 Residential real estate 915,968 1,237 3,384 8,181 12,802 928,770 1,306 Home equity 325,291 1,877 895 1,968 4,740 330,031 570 Consumer 240,365 2,571 685 474 3,730 244,095 319 Total portfolio loans 4,042,825 8,500 9,976 25,465 43,941 4,086,766 2,288 Loans held for sale 5,865 — — — — 5,865 — Total loans $ 4,048,690 $ 8,500 $ 9,976 $ 25,465 $ 43,941 $ 4,092,631 $ 2,288 Impaired loans included above are as follows: Non-accrual loans $ 7,562 $ 2,884 $ 5,552 $ 22,820 $ 31,256 $ 38,818 TDRs accruing interest (1) 11,016 151 542 357 1,050 12,066 Total impaired $ 18,578 $ 3,035 $ 6,094 $ 23,177 $ 32,306 $ 50,884 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. |
Summary of Impaired Loans | The following tables summarize impaired loans: Impaired Loans December 31, 2015 December 31, 2014 (in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ 2,126 $ 1,990 $ — $ 1,588 $ 1,488 $ — Improved property 14,817 10,559 — 16,480 14,684 — Commercial and industrial 4,263 3,481 — 3,152 2,597 — Residential real estate 18,560 16,688 — 20,077 18,544 — Home equity 3,562 3,033 — 2,890 2,663 — Consumer 1,603 1,294 — 1,287 1,086 — Total impaired loans without a specific allowance 44,931 37,045 — 45,474 41,062 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 3,012 3,012 668 7,980 7,980 2,765 Commercial and industrial 6,176 4,872 853 1,842 1,842 1,033 Total impaired loans with a specific allowance 9,188 7,884 1,521 9,822 9,822 3,798 Total impaired loans $ 54,119 $ 44,929 $ 1,521 $ 55,296 $ 50,884 $ 3,798 (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 impaired loans. Impaired Loans For the Year Ended For the Year Ended For the Year Ended (in thousands) Average Interest Average Interest Average Interest With no related specific allowance recorded: Commercial real estate: Land and construction $ 2,156 $ 41 $ 1,977 $ 35 $ 4,552 $ 87 Improved property 17,192 437 17,669 441 22,702 610 Commercial and industrial 2,979 170 3,561 103 3,757 112 Residential real estate 17,876 862 18,829 855 19,915 803 Home equity 2,924 90 2,356 75 2,262 68 Consumer 1,199 105 1,122 97 1,377 89 Total impaired loans without a specific allowance 44,326 1,705 45,514 1,606 54,565 1,769 With a specific allowance recorded: Commercial real estate: Land and construction — — — — 1,234 — Improved property 5,896 — 2,795 348 2,746 22 Commercial and industrial 3,579 292 2,075 95 309 89 Total impaired loans with a specific allowance 9,475 292 4,870 443 4,289 111 Total impaired loans $ 53,801 $ 1,997 $ 50,384 $ 2,049 $ 58,854 $ 1,880 |
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) (in thousands) December 31, December 31, Commercial real estate: Land and construction $ 1,023 $ 1,488 Improved property 11,507 20,227 Total commercial real estate 12,530 21,715 Commercial and industrial 8,148 4,110 Residential real estate 9,461 10,329 Home equity 2,391 1,923 Consumer 851 741 Total $ 33,381 $ 38,818 (1) At December 31, 2015, there were three borrowers with loans greater than $1.0 million totaling $8.9 million. Total non-accrual loans include loans that are also restructured. Such loans are also set forth in the following table as non-accrual TDRs. TDRs December 31, 2015 December 31, 2014 (in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ 967 $ 431 $ 1,398 $ — $ 464 $ 464 Improved property 2,064 1,442 3,506 2,437 1,850 4,287 Total commercial real estate 3,031 1,873 4,904 2,437 2,314 4,751 Commercial and industrial 205 282 487 329 478 807 Residential real estate 7,227 2,060 9,287 8,215 2,074 10,289 Home equity 642 218 860 740 245 985 Consumer 443 184 627 345 309 654 Total $ 11,548 $ 4,617 $ 16,165 $ 12,066 $ 5,420 $ 17,486 |
Loans Identified as TDRs | The following table presents details related to loans identified as TDRs during the years ended December 31, 2015 and 2014: New TDRs (1) For the Year Ended December 31, 2015 New TDRs (1) For the Year Ended December 31, 2014 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction 9 $ 1,065 $ 1,019 — $ — $ — Improved property 7 1,195 708 9 1,638 1,437 Total commercial real estate 16 2,260 1,727 9 1,638 1,437 Commercial and industrial 3 98 92 3 231 163 Residential real estate 8 468 439 8 424 400 Home equity 1 7 6 — — — Consumer 24 329 306 11 199 167 Total 52 $ 3,162 $ 2,570 31 $ 2,492 $ 2,167 (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. |
TDRs Defaulted Later Restructured | The following table summarizes TDRs which defaulted (defined as past due 90 days) during the years ended December 31, 2015 and 2014 that were restructured within the last twelve months prior to December 31, 2015 and 2014: Defaulted TDRs (1) For the Year Ended Defaulted TDRs (1) For the Year Ended (dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property 2 370 — — Total commercial real estate 2 370 — — Commercial and industrial — — — — Residential real estate 1 22 — — Home equity — — — — Consumer — — 1 26 Total 3 $ 392 1 $ 26 (1) Excludes loans that were either charged-off or cured by period end. The recorded investment is as of December 31, 2015 and 2014. |
Recognition of Interest Income on Impaired Loans | The following table summarizes the recognition of interest income on impaired loans: For the years ended December 31, (in thousands) 2015 2014 2013 Average impaired loans $ 53,801 $ 50,384 $ 58,854 Amount of contractual interest income on impaired loans 3,061 3,260 3,225 Amount of interest income recognized on impaired loans 1,997 2,049 1,880 |
Summary of Other Real Estate Owned and Repossessed Assets | The following table summarizes other real estate owned and repossessed assets included in other assets: December 31, (in thousands) 2015 2014 Other real estate owned $ 5,669 $ 4,920 Repossessed assets 156 162 Total other real estate owned and repossessed assets $ 5,825 $ 5,082 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Premises and Equipment | Premises and equipment include: December 31, (in thousands) 2015 2014 Land and improvements $ 32,665 $ 28,158 Buildings and improvements 121,645 105,436 Furniture and equipment 71,959 66,149 Total cost 226,269 199,743 Accumulated depreciation and amortization (114,066 ) (106,608 ) Total premises and equipment, net $ 112,203 $ 93,135 |
Future Minimum Lease Payments Under Non-cancellable Leases | Future minimum lease payments under non-cancellable leases with initial or remaining lease terms in excess of one year at December 31, 2015 are as follows ( in thousands Year Amount 2016 $ 2,872 2017 2,502 2018 1,973 2019 1,624 2020 1,541 2021 and thereafter 12,507 Total $ 23,019 |
GOODWILL AND OTHER INTANGIBLE38
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
WesBanco's Capitalized Other Intangible Assets and Related Accumulated Amortization | The following table shows WesBanco’s capitalized other intangible assets and related accumulated amortization: December 31, (in thousands) 2015 2014 Other intangible assets: Gross carrying amount $ 28,674 $ 38,048 Accumulated amortization (18,338 ) (30,640 ) Net carrying amount of other intangible assets $ 10,336 $ 7,408 |
Schedule of Future Amortization on Intangible Assets | The following table shows the amortization on WesBanco’s other intangible assets for each of the next five years ( in thousands Year Amount 2016 $ 2,185 2017 1,889 2018 1,601 2019 1,329 2020 1,090 |
Certificates of Deposit (Tables
Certificates of Deposit (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Schedule of Maturities of Total Certificates of Deposit | At December 31, 2015, the scheduled maturities of total certificates of deposit are as follows (in thousands) Year Amount 2016 $ 922,773 2017 252,066 2018 148,493 2019 88,590 2020 117,640 2021 and thereafter 28,276 Total $ 1,557,838 |
FHLB and Other Short-Term Bor40
FHLB and Other Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Schedule of Aggregate Annual Maturities and Weighted-Average Interest Rates of FHLB Borrowing | The following table presents the aggregate annual maturities and weighted-average interest rates of FHLB borrowings at December 31, 2015 based on their contractual maturity dates and interest rates (dollars in thousands) : Year Scheduled Weighted 2016 $ 213,052 0.82 % 2017 509,788 1.17 % 2018 310,996 1.32 % 2019 4,645 4.12 % 2020 852 5.88 % 2021 and thereafter 2,417 2.13 % Total $ 1,041,750 1.17 % |
Junior Subordinated Debt Owed41
Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Schedule of Junior Subordinated Debt by Trust | The following table shows WesBanco’s trust subsidiaries with outstanding Trust Preferred Securities as of December 31, 2015: (in thousands) Trust Common Junior Stated Optional WesBanco Capital Trust II (1) $ 13,000 $ 410 $ 13,410 6/30/2033 6/30/2008 WesBanco Capital Statutory Trust III (2) 17,000 526 17,526 6/26/2033 6/26/2008 WesBanco Capital Trust IV (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust V (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust VI (4) 15,000 464 15,464 3/17/2035 3/17/2010 Oak Hill Capital Trust 2 (5) 5,000 155 5,155 10/18/2034 10/18/2009 Oak Hill Capital Trust 3 (6) 8,000 248 8,248 10/18/2034 10/18/2009 Oak Hill Capital Trust 4 (7) 5,000 155 5,155 6/30/2035 6/30/2015 Total $ 103,000 $ 3,196 $ 106,196 (1) Variable rate based on the three-month LIBOR plus 3.15% with a current rate of 3.75% through March 30, 2016, adjustable quarterly. (2) Variable rate based on the three-month LIBOR plus 3.10% with a current rate of 3.70% through March 26, 2016, adjustable quarterly. (3) Variable rate based on the three-month LIBOR plus 2.65% with a current rate of 3.18% through March 17, 2016, adjustable quarterly. (4) Variable rate based on the three-month LIBOR plus 1.77% with a current rate of 2.30% through March 17, 2016, adjustable quarterly. (5) Variable rate based on the three-month LIBOR plus 2.40% with a current rate of 2.72% through January 18, 2016, adjustable quarterly. (6) Variable rate based on the three-month LIBOR plus 2.30% with a current rate of 2.62% through January 18, 2016, adjustable quarterly. (7) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 2.20% through March 30, 2016, adjustable quarterly. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Summary of Benefit Obligations and Funded Status of the Plan | The benefit obligations and funded status of the Plan are as follows: December 31, (dollars in thousands) 2015 2014 Accumulated benefit obligation at end of year $ 99,312 $ 103,447 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 118,261 $ 90,640 Service cost 3,355 2,909 Interest cost 4,870 4,745 Actuarial (gain) loss (13,413 ) 25,392 Benefits paid (3,673 ) (5,425 ) Projected benefit obligation at end of year $ 109,400 $ 118,261 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 110,037 $ 100,274 Actual return on plan assets (572 ) 7,688 Employer contribution 7,500 7,500 Benefits paid (3,673 ) (5,425 ) Fair value of plan assets at end of year $ 113,292 $ 110,037 Amounts recognized in the statement of financial position: Funded status $ 3,892 $ (8,224 ) Net amounts recognized as receivable (payable) pension costs in the consolidated balance sheets $ 3,892 $ (8,224 ) Amounts recognized in accumulated other comprehensive income consist of: Unrecognized prior service cost $ 156 $ 182 Unrecognized net loss 27,549 35,834 Net amounts recognized in accumulated other comprehensive income (before tax) $ 27,705 $ 36,016 Weighted average assumptions used to determine benefit obligations: Discount rate 4.74 % 4.33 % Rate of compensation increase 3.82 % 3.77 % Expected long-term return on assets 6.79 % 7.00 % |
Components of and Weighted-Average Assumptions Used in Determining Net Periodic Benefit Costs | The components of and weighted-average assumptions used to determine net periodic benefit costs are as follows: For the years ended December 31, (dollars in thousands) 2015 2014 2013 Components of net periodic benefit cost: Service cost—benefits earned during year $ 3,355 $ 2,909 $ 3,120 Interest cost on projected benefit obligation 4,870 4,745 4,096 Expected return on plan assets (7,735 ) (7,229 ) (5,993 ) Amortization of prior service cost 26 45 45 Amortization of net loss 3,179 1,471 3,534 Net periodic pension cost $ 3,695 $ 1,941 $ 4,802 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net (gain) loss for period $ (5,106 ) $ 24,934 $ (17,751 ) Amortization of prior service cost (26 ) (45 ) (45 ) Amortization of net loss (3,179 ) (1,471 ) (3,534 ) Total recognized in other comprehensive income $ (8,311 ) $ 23,418 $ (21,330 ) Total recognized in net periodic pension cost and other comprehensive income $ (4,616 ) $ 25,359 $ (16,528 ) Weighted-average assumptions used to determine net periodic pension cost: Discount rate 4.33 % 5.17 % 4.36 % Rate of compensation increase 3.77 % 3.97 % 3.00 % Expected long-term return on assets 7.00 % 7.25 % 7.25 % |
Summary of Weighted-Average Asset Allocations by Asset Category | The following table sets forth the Plan’s weighted-average asset allocations by asset category: Target Allocation for 2015 December 31, 2015 2014 Asset Category: Equity securities 55-75 % 61 % 65 % Debt securities 25-55 % 34 % 32 % Cash and cash equivalents 0-5 % 5 % 3 % Total 100 % 100 % |
Fair Values of the WesBanco's Pension Plan Assets | The fair values of WesBanco’s pension plan assets at December 31, 2015 and 2014, by asset category are as follows: December 31, 2015 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 23,741 $ 23,741 $ — $ — Equity securities 56,098 56,098 — — Corporate debt securities 16,802 — 16,802 — Municipal obligations 3,034 — 3,034 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 15,386 — 15,386 — Total defined benefit pension plan assets (1) $ 115,061 $ 79,839 $ 35,222 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $113.3 million. December 31, 2014 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 17,182 $ 17,182 $ — $ — Equity securities 65,869 65,869 — — Corporate debt securities 15,726 — 15,726 — Municipal obligations 2,178 — 2,178 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 13,261 — 13,261 — Total defined benefit pension plan assets (1) $ 114,216 $ 83,051 $ 31,165 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $110.0 million. |
Estimated Benefits to be Paid in Each of Next Five Years and in the Aggregate for the Five Years Thereafter | The following table presents estimated benefits to be paid in each of the next five years and in the aggregate for the five years thereafter ( in thousands Year Amount 2016 $ 3,301 2017 3,870 2018 4,136 2019 4,424 2020 4,766 2021 to 2025 30,224 |
Significant Assumptions Used in Calculating the Fair Value of the Grants | The following table sets forth the significant assumptions used in calculating the fair value of the grants: For the years ended December 31, 2015 2014 2013 Weighted-average life 4.9 years 4.8 years 4.5 years Risk-free interest rate 1.54 % 1.37 % 0.74 % Dividend yield 2.91 % 3.06 % 3.04 % Volatility factor 26.27 % 28.82 % 32.31 % Fair value of the grants $ 5.57 $ 5.41 $ 5.05 |
Summary of Activity for the Stock Option Component of the Incentive Plan | The following table shows the activity for the Stock Option component of the Incentive Plan: For the year ended Number Weighted Outstanding at beginning of the year 258,450 $ 24.36 Granted during the year 94,800 31.58 Exercised during the year (60,275 ) 22.87 Forfeited or expired during the year (5,475 ) 26.32 Outstanding at end of the year 287,500 $ 27.02 Exercisable at year end 240,975 $ 26.14 |
Summary of Average Remaining Life of the Stock Options | The following table shows the average remaining life of the stock options at December 31, 2015: Year Issued Exercisable Year End Exercise Options Weighted Weighted Avg. 2010 14,300 $ 19.27 14,300 $ 19.27 1.38 2011 18,500 19.76 18,500 19.76 2.38 2012 28,125 20.02 28,125 20.02 3.38 2013 57,875 25.00 57,875 25.00 4.38 2014 75,650 28.79 75,650 28.79 5.39 2015 46,525 31.58 93,050 31.58 6.42 Total 240,975 $ 19.27 to $31.58 287,500 $ 27.02 4.93 |
Schedule of Activity for the Restricted Stock Component of the Plan | The following table shows the activity for the Restricted Stock component of the Incentive Plan: For the year ended December 31, 2015 Restricted Weighted Non-vested at January 1, 2015 133,468 $ 25.19 Granted during the year 49,550 31.58 Vested during the year (41,885 ) 20.73 Forfeited or expired during the year (1,503 ) 24.29 Dividend reinvestment 3,826 33.11 Non-vested at end of the year 143,456 $ 28.92 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Operating Expenses | Other operating expenses consist of miscellaneous taxes, consulting fees, ATM expenses, postage, supplies, legal fees, communications, other real estate owned and foreclosure expenses, and other expenses. Other operating expenses are presented below: For the years ended December 31, (in thousands) 2015 2014 2013 Franchise and other miscellaneous taxes $ 5,924 $ 6,748 $ 5,887 Consulting, regulatory and advisory fees 4,959 4,405 4,445 ATM and electronic banking interchange expenses 4,463 4,222 4,310 Postage and courier expenses 3,720 3,373 3,317 Supplies 2,841 2,425 2,675 Legal fees 2,418 2,531 2,549 Communications 1,537 1,555 2,717 Other real estate owned and foreclosure expenses 546 1,101 1,753 Other 12,479 10,836 9,684 Total other operating expenses $ 38,887 $ 37,196 $ 37,337 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate | Reconciliation from the federal statutory income tax rate to the effective tax rate is as follows: For the years ended 2015 2014 2013 Federal statutory tax rate 35.0 % 35.0 % 35.0 % Net tax-exempt interest income on securities of state and political subdivisions (6.8 %) (6.4 %) (6.7 %) State income taxes, net of federal tax effect 1.6 % 1.4 % 1.6 % Bank-owned life insurance (1.6 %) (1.7 %) (1.9 %) General business credits (2.1 %) (3.1 %) (3.5 %) All other—net (0.1 %) 0.1 % — Effective tax rate 26.0 % 25.3 % 24.5 % |
Provision for Income Taxes Applicable to Income Before Taxes | The provision for income taxes applicable to income before taxes consists of the following: For the years ended December 31, (in thousands) 2015 2014 2013 Current: Federal $ 15,661 $ 13,346 $ 12,399 State 2,089 1,684 1,837 Deferred: Federal 10,047 8,337 6,267 State 618 353 260 Total $ 28,415 $ 23,720 $ 20,763 |
Schedule of Income Tax Amounts were Recorded in Shareholder's Equity as Elements of Other Comprehensive Income | The following income tax amounts were recorded in shareholders’ equity as elements of other comprehensive income: For the years ended (in thousands) 2015 2014 2013 Securities and defined benefit pension plan unrecognized items $ (1,202 ) $ (3,538 ) $ (3,707 ) |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consist of the following: December 31, (in thousands) 2015 2014 2013 Deferred tax assets: Allowance for loan losses $ 15,246 $ 16,386 $ 17,414 Compensation and benefits 6,114 8,764 2,324 Security gains and losses 2,964 2,817 3,261 Purchase accounting adjustments 1,275 1,497 3,544 Partnership adjustments 1,921 1,158 951 Non-accrual interest income 2,254 2,129 1,850 Tax credit carryforwards 13,000 10,163 11,517 Federal net operating loss carryforwards — 597 1,415 Fair value adjustments on securities available-for-sale 1,979 — 2,772 Other 2,264 2,169 2,224 Gross deferred tax assets 47,017 45,680 47,272 Deferred tax liabilities: Depreciation and amortization (1,530 ) (1,900 ) (1,416 ) Accretion on securities (2 ) (295 ) (262 ) Fair value adjustments on securities available-for-sale — (2,297 ) — Other (1,511 ) (1,728 ) (983 ) Gross deferred tax liabilities (3,043 ) (6,220 ) (2,661 ) Net deferred tax assets $ 43,974 $ 39,460 $ 44,611 |
Schedule of Unrecognized Tax Benefits (Excluding Interest and Federal Income Tax Benefit of Unrecognized State Tax Benefits) | A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: For the years ended (in thousands) 2015 2014 2013 Balance at beginning of year $ 701 $ 673 $ 668 Additions based on tax positions related to the current year 104 155 140 Reductions for tax positions of prior years (100 ) — — Reductions due to the statute of limitations (379 ) (127 ) (135 ) Settlements — — — Balance at end of year $ 326 $ 701 $ 673 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis | 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 December 31, 2015 and 2014: December 31, 2015 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in (Level 1) Significant Significant (Level 3) Recurring fair value measurements Securities—available-for-sale Obligations of government agencies $ 83,505 $ — $ 83,505 $ — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,176,080 — 1,176,080 — Obligations of state and political subdivisions 80,265 — 80,265 — Corporate debt securities 58,593 — 58,593 — Equity securities 11,077 7,961 3,116 — Total securities—available-for-sale $ 1,409,520 $ 7,961 $ 1,401,559 $ — Total recurring fair value measurements $ 1,409,520 $ 7,961 $ 1,401,559 $ — Nonrecurring fair value measurements Impaired loans $ 6,363 $ — $ — $ 6,363 Other real estate owned and repossessed assets 5,825 — — 5,825 Loans held for sale 7,899 — 7,899 — Total nonrecurring fair value measurements $ 20,087 $ — $ 7,899 $ 12,188 December 31, 2014 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in (Level 1) Significant Significant (Level 3) Recurring fair value measurements Securities—available-for-sale Obligations of government agencies $ 87,736 $ — $ 87,736 $ — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 701,113 — 701,113 — Obligations of state and political subdivisions 91,433 — 91,433 — Corporate debt securities 25,996 — 25,996 — Equity securities 11,146 8,440 2,706 — Total securities—available-for-sale $ 917,424 $ 8,440 $ 908,984 $ — Total recurring fair value measurements $ 917,424 $ 8,440 $ 908,984 $ — Nonrecurring fair value measurements Impaired loans $ 6,024 $ — $ — $ 6,024 Other real estate owned and repossessed assets 5,082 — — 5,082 Loans held for sale 5,865 — 5,865 — Total nonrecurring fair value measurements $ 16,971 $ — $ 5,865 $ 11,106 |
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 (in thousands) Fair Value Valuation Techniques Unobservable Input Range / Weighted Average December 31, 2015: Impaired loans $ 6,363 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (40.6%) / (25.1%) Liquidation expenses (2) (3.0%) to (8.0%) / (6.7%) Other real estate owned and repossessed assets 5,825 Appraisal of collateral (1)(3) December 31, 2014: Impaired loans $ 6,024 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (39.7%) / (6.7%) Liquidation expenses (2) (1.2%) to (8.0%) / (6.7%) Other real estate owned and repossessed assets 5,082 Appraisal of collateral (1)(3) (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 expenses 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: (in thousands) Carrying Fair Value Fair Value Measurements Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) December 31, 2015 Financial Assets Cash and due from banks $ 86,685 $ 86,685 $ 86,685 $ — $ — Securities available-for-sale 1,409,520 1,409,520 7,961 1,401,559 — Securities held-to-maturity 1,012,930 1,038,207 — 1,037,490 717 Net loans 5,024,132 4,936,236 — — 4,936,236 Loans held for sale 7,899 7,899 — 7,899 — Accrued interest receivable 25,759 25,759 25,759 — — Bank-owned life insurance 150,980 150,980 150,980 — — Financial Liabilities Deposits 6,066,299 6,075,433 4,508,461 1,566,972 — Federal Home Loan Bank borrowings 1,041,750 1,041,752 — 1,041,752 — Other borrowings 81,356 81,361 78,682 2,679 — Junior subordinated debt 106,196 79,681 — 79,681 — Accrued interest payable 1,715 1,715 1,715 — — December 31, 2014 Financial Assets Cash and due from banks $ 94,002 $ 94,002 $ 94,002 $ — $ — Securities available-for-sale 917,424 917,424 8,440 908,984 — Securities held-to-maturity 593,670 619,617 — 618,895 722 Net loans 4,042,112 4,047,648 — — 4,047,648 Loans held for sale 5,865 5,865 — 5,865 — Accrued interest receivable 18,481 18,481 18,481 — — Bank-owned life insurance 123,298 123,298 123,298 — — Financial Liabilities Deposits 5,048,983 5,056,828 3,743,887 1,312,941 — Federal Home Loan Bank borrowings 223,126 225,456 — 225,456 — Other borrowings 80,690 80,696 77,534 3,162 — Junior subordinated debt 106,176 79,212 — 79,212 — Accrued interest payable 1,620 1,620 1,620 — — |
Comprehensive Income_(Loss) (Ta
Comprehensive Income/(Loss) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income/(Loss) | The activity in accumulated other comprehensive income/(loss) for the years ended December 31, 2015, 2014 and 2013 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (in thousands) Defined Benefit Pension Plan Unrealized Gains (Losses) on Securities Available-for-Sale Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) Other comprehensive income/(loss) before reclassifications 3,233 (6,677 ) — (3,444 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,004 (377 ) (312 ) 1,315 Period change 5,237 (7,054 ) (312 ) (2,129 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Balance at December 31, 2013 $ (7,966 ) $ (6,126 ) $ 1,358 $ (12,734 ) Other comprehensive (loss)/income before reclassifications (15,768 ) 9,638 — (6,130 ) Amounts reclassified from accumulated other comprehensive income/(loss) 958 (620 ) (299 ) 39 Period change (14,810 ) 9,018 (299 ) (6,091 ) Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) Balance at December 31, 2012 $ (21,401 ) $ 13,032 $ 2,004 $ (6,365 ) Other comprehensive income/(loss) before reclassifications 11,224 (19,102 ) — (7,878 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,211 (56 ) (646 ) 1,509 Period change 13,435 (19,158 ) (646 ) (6,369 ) Balance at December 31, 2013 $ (7,966 ) $ (6,126 ) $ 1,358 $ (12,734 ) (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 37%. |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss) | Details about Accumulated Other Comprehensive Income/(Loss) Components Amounts Reclassified from December 31, Affected Line Item in the Statement of Net (in thousands) 2015 2014 2013 Securities available-for-sale (1): Net securities gains reclassified into earnings $ (596 ) $ (981 ) $ (89 ) Net securities gains (Non-interest income) Related income tax expense 219 361 33 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (377 ) (620 ) (56 ) Securities held-to-maturity (1): Amortization of unrealized gain transferred from available-for-sale (494 ) (472 ) (1,029 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 182 173 383 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (312 ) (299 ) (646 ) Defined benefit pension plan (2): Amortization of net loss and prior service costs 3,205 1,516 3,579 Employee benefits (Non-interest expense) Related income tax benefit (1,201 ) (558 ) (1,368 ) Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 2,004 958 2,211 Total reclassifications for the period $ 1,315 $ 39 $ 1,509 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income/(loss) see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 12, “Employee Benefit Plans” for additional detail. |
Commitments and Contingent Li47
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: December 31, (in thousands) 2015 2014 Lines of credit $ 1,159,769 $ 984,352 Loans approved but not closed 234,599 116,757 Overdraft limits 106,252 95,965 Letters of credit 27,408 23,362 Contingent obligations to purchase loans funded by other entities 18,079 8,312 |
WesBanco Bank Community Devel48
WesBanco Bank Community Development Corporation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Summary of New Market Tax Credit Carry Forward | (in thousands) Aggregate QEI New Markets Tax Credit Year 2016 2017 2018 2019 2010 $ 14,000 $ 840 $ — $ — $ — 2011 5,000 300 300 — — 2012 6,000 360 360 360 — 2013 5,000 300 300 300 300 Total $ 30,000 $ 1,800 $ 960 $ 660 $ 300 |
Condensed Parent Company Fina49
Condensed Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Parent Company [Member] | |
Schedule of Condensed Balance Sheet | BALANCE SHEETS December 31, (in thousands) 2015 2014 ASSETS Cash and short-term investments $ 33,172 $ 61,732 Investment in subsidiaries—Bank 1,175,005 814,227 Investment in subsidiaries—Nonbank 5,604 5,343 Securities available-for-sale, at fair value 1,891 2,189 Other assets 21,817 17,553 Total Assets $ 1,237,489 $ 901,044 LIABILITIES Junior subordinated debt owed to unconsolidated subsidiary trusts $ 106,196 $ 106,176 Dividends payable and other liabilities 9,161 6,678 Total Liabilities 115,357 112,854 SHAREHOLDERS’ EQUITY 1,122,132 788,190 Total Liabilities and Shareholders’ Equity $ 1,237,489 $ 901,044 |
Schedule of Condensed Income Statement | STATEMENTS OF INCOME For the years ended December 31, (in thousands) 2015 2014 2013 Dividends from subsidiaries—Bank $ 60,000 $ 59,500 $ 42,000 Dividends from subsidiaries—Nonbank 500 1,200 860 Income from securities 75 128 194 Net securities gain — 745 6 Other income 104 416 67 Total income 60,679 61,989 43,127 Total expense 8,862 7,139 5,810 Income before income tax benefit and undistributed net income of subsidiaries 51,817 54,850 37,317 Income tax benefit (2,971 ) (2,006 ) (2,132 ) Income before undistributed net income of subsidiaries 54,788 56,856 39,449 Equity in undistributed net income of subsidiaries 25,974 13,118 24,476 NET INCOME $ 80,762 $ 69,974 $ 63,925 |
Schedule of Condensed Cash Flow Statement | STATEMENTS OF CASH FLOWS For the years ended December 31, (in thousands) 2015 2014 2013 OPERATING ACTIVITIES Net income $ 80,762 $ 69,974 $ 63,925 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income (25,974 ) (13,118 ) (24,476 ) Gain on securities — (745 ) (6 ) (Increase) decrease in other assets 199 1,908 (1,957 ) Other—net 1,657 1,968 1,975 Net cash provided by operating activities 56,644 59,987 39,461 INVESTING ACTIVITIES Proceed from sales —securities available-for-sale 210 1,990 1,009 Acquisitions and additional capitalization of subsidiaries, net of cash acquired 1,465 — (104 ) Net cash (used in) provided by investing activities 1,675 1,990 905 FINANCING ACTIVITIES Repayment of junior subordinated debt (36,083 ) — (7,732 ) Repayment of other borrowings (13,000 ) — — Issuance of common stock — — 2,539 Repurchase of common stock warrant (2,247 ) — — Treasury shares (purchased) sold—net (2,542 ) 1,918 (6,170 ) Dividends paid to common and preferred shareholders (33,007 ) (25,136 ) (22,243 ) Net cash used in financing activities (86,879 ) (23,218 ) (33,606 ) Net (decrease) increase in cash and cash equivalents (28,560 ) 38,759 6,760 Cash and short-term investments at beginning of year 61,732 22,973 16,213 Cash and short-term investments at end of year $ 33,172 $ 61,732 $ 22,973 |
WBCDC [Member] | |
Schedule of Condensed Balance Sheet | BALANCE SHEET (in thousands) December 31, 2015 Assets Cash and due from banks $ 26,317 Loans, net of allowance for loan losses of $217 42,958 Investments 1,062 Other assets 1,043 Total Assets $ 71,380 Liabilities $ 250 Shareholder Equity 71,130 Total Liabilities and Shareholder Equity $ 71,380 |
Schedule of Condensed Income Statement | STATEMENT OF INCOME (in thousands) For the year ended December 31, 2015 Interest income Loans $ 1,434 Total interest income 1,434 Recovery of loan losses (32 ) Net interest income after provision for loan losses 1,466 Non-interest income 82 Non-interest expense 6 Income before provision for income taxes 1,542 Provision for income taxes 574 Net income $ 968 |
Schedule of Condensed Cash Flow Statement | STATEMENT OF CASH FLOWS For the year ended December 31, 2015 (in thousands) Operating Activities Net income $ 968 Recovery of loan losses (32 ) Gain on investments (82 ) Net change in other assets (513 ) Net change in other liabilities (44 ) Net cash provided by operating activities 297 Investing Activities Decrease in loans 1,750 Net cash provided by investing activities 1,750 Financing Activities Qualified equity investment by parent company — Net cash provided by financing activities — Net increase in cash and cash equivalents 2,047 Cash and cash equivalents at beginning of year 24,270 Cash and cash equivalents at end of year $ 26,317 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Summary of Risk-Based Capital Amounts and Ratios | The following table summarizes risk-based capital amounts and ratios for WesBanco and the Bank: December 31, 2015 December 31, 2014 (dollars in thousands) Minimum Well Amount Ratio Minimum Amount Ratio Minimum WesBanco, Inc. Tier 1 leverage 4.00 % 5.00 % $ 751,748 9.38 % $ 320,575 $ 593,031 9.88 % $ 240,068 Common equity Tier 1 (3) 4.50 % 6.50 % 656,911 11.66 % 253,418 N/A N/A N/A Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 751,748 13.35 % 337,891 593,031 13.76 % 172,357 Total capital to risk-weighted assets 8.00 % 10.00 % 794,643 14.11 % 450,521 638,064 14.81 % 344,714 WesBanco Bank, Inc. Tier 1 leverage 4.00 % 5.00 % $ 701,384 8.77 % $ 320,020 $ 516,689 8.63 % $ 239,533 Common equity Tier 1 (3) 4.50 % 6.50 % 701,384 12.49 % 252,793 N/A N/A N/A Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 701,384 12.49 % 337,057 516,689 12.04 % 171,612 Total capital to risk-weighted assets 8.00 % 10.00 % 743,923 13.24 % 449,409 561,369 13.08 % 343,225 (1) Minimum requirements to remain adequately capitalized. Minimums prior to January 1, 2015 were 4.00% for Tier 1 leverage and Tier 1 capital and 8.00% for total capital. (2) Well capitalized under prompt corrective action regulations. (3) The common equity Tier 1 ratio is a new regulatory ratio as of January 1, 2015, as the regulatory agencies adopted new guidelines for such ratio as a result of international adoption of the BASEL III regulatory capital accords in 2013. |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Financial Information by Business Segment | Condensed financial information by business segment is presented below: (in thousands) Community Banking Trust and Consolidated For the year ended December 31, 2015: Interest and dividend income $ 261,712 $ — $ 261,712 Interest expense 24,725 — 24,725 Net interest income 236,987 — 236,987 Provision for credit losses 8,353 — 8,353 Net interest income after provision for credit losses 228,634 — 228,634 Non-interest income 52,566 21,900 74,466 Non-interest expense 181,821 12,102 193,923 Income before provision for income taxes 99,379 9,798 109,177 Provision for income taxes 24,496 3,919 28,415 Net income $ 74,883 $ 5,879 $ 80,762 For the year ended December 31, 2014: Interest and dividend income $ 215,991 $ — $ 215,991 Interest expense 22,763 — 22,763 Net interest income 193,228 — 193,228 Provision for credit losses 6,405 — 6,405 Net interest income after provision for credit losses 186,823 — 186,823 Non-interest income 47,435 21,069 68,504 Non-interest expense 149,429 12,204 161,633 Income before provision for income taxes 84,829 8,865 93,694 Provision for income taxes 20,174 3,546 23,720 Net income $ 64,655 $ 5,319 $ 69,974 For the year ended December 31, 2013: Interest and dividend income $ 217,890 $ — $ 217,890 Interest expense 32,403 — 32,403 Net interest income 185,487 — 185,487 Provision for credit losses 9,086 — 9,086 Net interest income after provision for credit losses 176,401 — 176,401 Non-interest income 49,708 19,577 69,285 Non-interest expense 149,136 11,862 160,998 Income before provision for income taxes 76,973 7,715 84,688 Provision for income taxes 17,677 3,086 20,763 Net income $ 59,296 $ 4,629 $ 63,925 |
Condensed Quarterly Statement52
Condensed Quarterly Statements of Income (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Consolidated Selected Quarterly Statements of Income | The following tables set forth unaudited consolidated selected quarterly statements of income for the years ended December 31, 2015 and 2014. 2015 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 60,379 $ 66,729 $ 66,935 $ 67,660 $ 261,712 Interest expense 5,424 5,936 6,326 7,040 24,725 Net interest income 54,955 60,793 60,609 60,620 236,987 Provision for credit losses 1,289 2,681 1,798 2,585 8,353 Net interest income after provision for credit losses 53,666 58,112 58,811 58,035 228,634 Non-interest income 18,168 18,072 18,139 19,146 73,518 Net securities gains 22 — 47 880 948 Non-interest expense 53,441 46,589 46,981 46,894 193,923 Income before provision for income taxes 18,415 29,595 30,016 31,167 109,177 Provision for income taxes 4,528 7,962 7,768 8,165 28,415 Net income $ 13,887 $ 21,633 $ 22,248 $ 23,002 $ 80,762 Earnings per common share—basic $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 Earnings per common share—diluted $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 2014 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 53,457 $ 54,044 $ 54,303 $ 54,185 $ 215,991 Interest expense 6,132 5,737 5,692 5,199 22,763 Net interest income 47,325 48,307 48,611 48,986 193,228 Provision for credit losses 2,199 849 1,478 1,880 6,405 Net interest income after provision for credit losses 45,126 47,458 47,133 47,106 186,823 Non-interest income 17,039 18,076 16,073 16,413 67,601 Net securities gains 10 165 581 147 903 Non-interest expense 40,095 40,304 39,263 41,972 161,633 Income before provision for income taxes 22,080 25,395 24,524 21,694 93,694 Provision for income taxes 5,659 6,520 6,358 5,182 23,720 Net income $ 16,421 $ 18,875 $ 18,166 $ 16,512 $ 69,974 Earnings per common share—basic $ 0.56 $ 0.65 $ 0.62 $ 0.56 $ 2.39 Earnings per common share—diluted $ 0.56 $ 0.64 $ 0.62 $ 0.56 $ 2.39 |
Summary of Significant Accoun53
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2015USD ($)SegmentPropertyLocation | |
Summary Of Significant Accounting Policies [Line Items] | |
Number of Banking Offices | Segment | 141 |
Number of loan production office | Location | 1 |
Number of ATM | Property | 129 |
Wholly-owned trust subsidiaries | Property | 8 |
Held for sale securities, percentage of purchase price as condition for sale | 15.00% |
Allowance for credit losses carryover | $ 0 |
Non-accrual status period | 90 days |
Loans returned to accrual status, performance period | 6 months |
Minimum loan balance individually tested for impairment | $ 1,000,000 |
Indefinite - lived intangible assets | $ 0 |
Period of interest rate lock commitments | 60 days |
Land and Land Improvements [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Property, plant and equipment, Useful life | 15 years |
Consumer Loan [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Period of closed end loans loans charged down to net realizable value | 120 days |
Home Equity [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Period of closed end loans loans charged down to net realizable value | 180 days |
Residential Real Estate Loans [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Period of closed end loans loans charged down to net realizable value | 180 days |
Minimum [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Percentage of voting interest | 50.00% |
Weighted-average estimated useful lives | 10 years |
Non-compete agreements, amortization period | 1 year |
Minimum [Member] | Furniture and Equipment [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Property, plant and equipment, Useful life | 3 years |
Minimum [Member] | Building and Building Improvements [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Property, plant and equipment, Useful life | 15 years |
Maximum [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Weighted-average estimated useful lives | 16 years |
Non-compete agreements, amortization period | 4 years |
Maximum [Member] | Furniture and Equipment [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Property, plant and equipment, Useful life | 10 years |
Maximum [Member] | Building and Building Improvements [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Property, plant and equipment, Useful life | 39 years |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) $ / shares in Units, $ in Thousands | Feb. 10, 2015USD ($)Office$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) | Feb. 09, 2015Office |
Business Acquisition [Line Items] | ||||
Loans | $ 701,000 | |||
ESB Financial Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired, excluding goodwill | $ 1,900,000 | |||
Loans | 700,964 | |||
Securities | 486,891 | |||
Value of acquisition | $ 338,969 | |||
Common shares issued | shares | 9,178,531 | |||
Cash consideration for outstanding shares | $ 45,000 | |||
Goodwill acquired | 168,453 | 168,500 | ||
Purchase price allocation in core deposit intangible | $ 5,346 | |||
Closing stock price | $ / shares | $ 32 | |||
Merger related expense | $ 11,100 | $ 1,300 | ||
Pennsylvania [Member] | ||||
Business Acquisition [Line Items] | ||||
Number of offices | Office | 38 | 16 | ||
Common Stock [Member] | ||||
Business Acquisition [Line Items] | ||||
Common shares issued | shares | 9,178,531 | |||
Common Stock [Member] | ESB Financial Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Common shares issued | shares | 9,178,531 |
Mergers and Acquisitions - Calc
Mergers and Acquisitions - Calculation of Purchase Price and Resulting Goodwill Relating to ESB Acquisition (Detail) - ESB Financial Corporation [Member] - USD ($) $ in Thousands | Feb. 10, 2015 | Dec. 31, 2015 |
Purchase Price: | ||
Fair value of WesBanco shares issued, (net of equity issuance costs of $0.1 million) | $ 293,933 | |
Cash consideration for outstanding ESB shares, options and restricted stock | 37,036 | |
Settlement of pre-existing loan to ESB | 8,000 | |
Total purchase price | 338,969 | |
Fair value of: | ||
Tangible assets acquired | 1,859,129 | |
Core deposit and other intangible assets acquired | 5,346 | |
Liabilities assumed | (1,702,444) | |
Net cash received in the acquisition | 8,485 | |
Fair value of net assets acquired | 170,516 | |
Goodwill recognized | $ 168,453 | $ 168,500 |
Mergers and Acquisitions - Ca56
Mergers and Acquisitions - Calculation of Purchase Price and Resulting Goodwill Relating to ESB Acquisition (Parenthetical) (Detail) $ in Millions | Feb. 10, 2015USD ($) |
ESB Financial Corporation [Member] | |
Business Acquisition [Line Items] | |
Equity issuance costs | $ 0.1 |
Mergers and Acquisitions - Summ
Mergers and Acquisitions - Summary of Fair Value of Net Assets that Wesbanco Acquired from ESB (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Feb. 10, 2015 |
Assets | ||
Loans | $ 701,000 | |
ESB Financial Corporation [Member] | ||
Assets | ||
Cash and due from banks | $ 8,485 | |
Securities | 486,891 | |
Loans | 700,964 | |
Goodwill and other intangible assets | 173,798 | |
Accrued income and other assets | 671,275 | |
Total Assets | 2,041,413 | |
Liabilities | ||
Deposits | 1,254,091 | |
Borrowings | 433,454 | |
Accrued expenses and other liabilities | 14,899 | |
Total liabilities | 1,702,444 | |
Purchase price | $ 338,969 |
Mergers and Acquisitions - Su58
Mergers and Acquisitions - Summary of Fair Value of Net Assets that Wesbanco Acquired from ESB (Parenthetical) (Detail) $ in Millions | Dec. 31, 2015USD ($) |
ESB Financial Corporation [Member] | |
Business Acquisition [Line Items] | |
Receivables from sale of available-for-sale securities | $ 560.7 |
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 | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator for both basic and diluted earnings per common share: | |||||||||||
Net income | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | $ 80,762 | $ 69,974 | $ 63,925 |
Denominator: | |||||||||||
Total average basic common shares outstanding | 37,488,331 | 29,249,499 | 29,270,922 | ||||||||
Effect of dilutive stock options and warrant | 58,796 | 84,377 | 73,761 | ||||||||
Total diluted average common shares outstanding | 37,547,127 | 29,333,876 | 29,344,683 | ||||||||
Earnings per common share-basic | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 0.56 | $ 0.62 | $ 0.65 | $ 0.56 | $ 2.15 | $ 2.39 | $ 2.18 |
Earnngs per common share-diluted | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 0.56 | $ 0.62 | $ 0.64 | $ 0.56 | $ 2.15 | $ 2.39 | $ 2.18 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | Feb. 10, 2015 | Dec. 31, 2013 |
Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Stock options excluded from computation of diluted earnings per share | 42,701 | |
ESB Financial Corporation [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Common shares issued | 9,178,531 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | $ 1,416,095 | $ 912,850 |
Available-for-sale, Gross Unrealized Gains | 8,105 | 11,771 |
Available-for-sale, Gross Unrealized Losses | (14,680) | (7,197) |
Available-for-sale, Estimated Fair Value | 1,409,520 | 917,424 |
Held-to-maturity, Amortized Cost | 1,012,930 | 593,670 |
Held-to-maturity, Gross Unrealized Gains | 28,280 | 27,285 |
Held-to-maturity, Gross Unrealized Losses | (3,003) | (1,338) |
Held-to-maturity securities, Fair value | 1,038,207 | 619,617 |
Total securities, Amortized Cost | 2,429,025 | 1,506,520 |
Total securities, Gross Unrealized Gains | 36,385 | 39,056 |
Total securities, Gross Unrealized Losses | (17,683) | (8,535) |
Total securities, Estimated Fair Value | 2,447,727 | 1,537,041 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 1,188,256 | 703,535 |
Available-for-sale, Gross Unrealized Gains | 1,720 | 4,336 |
Available-for-sale, Gross Unrealized Losses | (13,896) | (6,758) |
Available-for-sale, Estimated Fair Value | 1,176,080 | 701,113 |
Held-to-maturity, Amortized Cost | 216,419 | 79,004 |
Held-to-maturity, Gross Unrealized Gains | 1,922 | 3,262 |
Held-to-maturity, Gross Unrealized Losses | (2,014) | (246) |
Held-to-maturity securities, Fair value | 216,327 | 82,020 |
Obligations of State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 76,106 | 86,073 |
Available-for-sale, Gross Unrealized Gains | 4,205 | 5,365 |
Available-for-sale, Gross Unrealized Losses | (46) | (5) |
Available-for-sale, Estimated Fair Value | 80,265 | 91,433 |
Held-to-maturity, Amortized Cost | 762,039 | 507,927 |
Held-to-maturity, Gross Unrealized Gains | 26,121 | 23,917 |
Held-to-maturity, Gross Unrealized Losses | (726) | (1,043) |
Held-to-maturity securities, Fair value | 787,434 | 530,801 |
Corporate Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 58,745 | 25,974 |
Available-for-sale, Gross Unrealized Gains | 181 | 141 |
Available-for-sale, Gross Unrealized Losses | (333) | (119) |
Available-for-sale, Estimated Fair Value | 58,593 | 25,996 |
Held-to-maturity, Amortized Cost | 34,472 | 6,739 |
Held-to-maturity, Gross Unrealized Gains | 237 | 106 |
Held-to-maturity, Gross Unrealized Losses | (263) | (49) |
Held-to-maturity securities, Fair value | 34,446 | 6,796 |
Obligations of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 82,725 | 86,964 |
Available-for-sale, Gross Unrealized Gains | 1,183 | 1,087 |
Available-for-sale, Gross Unrealized Losses | (403) | (315) |
Available-for-sale, Estimated Fair Value | 83,505 | 87,736 |
Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 1,405,832 | 902,546 |
Available-for-sale, Gross Unrealized Gains | 7,289 | 10,929 |
Available-for-sale, Gross Unrealized Losses | (14,678) | (7,197) |
Available-for-sale, Estimated Fair Value | 1,398,443 | 906,278 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 10,263 | 10,304 |
Available-for-sale, Gross Unrealized Gains | 816 | 842 |
Available-for-sale, Gross Unrealized Losses | (2) | |
Available-for-sale, Estimated Fair Value | $ 11,077 | $ 11,146 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Holdings | Dec. 31, 2014USD ($)Holdings | Dec. 31, 2013USD ($) | |
Amortized Cost and Fair Value Debt Securities [Abstract] | |||
Maximum percentage of equity of one issuer | 10.00% | ||
Number of holdings greater than specified percentage of equity | Holdings | 0 | 0 | |
Securities with aggregate fair values | $ 1,000,000,000 | $ 706,500,000 | |
Proceeds from sale of available-for-sale securities | 635,609,000 | 16,249,000 | $ 9,265,000 |
Net unrealized gains (losses) on available-for-sale securities included in AOCI | (4,200,000) | 2,900,000 | $ (6,100,000) |
Impaired loss relating to securities | 0 | ||
Federal home loan bank stock, Total | $ 45,500,000 | $ 11,600,000 |
Securities - Schedule of Fair V
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | $ 20,936 | |
Total available-for-sale securities, One to Five Years | 67,444 | |
Total available-for-sale securities, Five to Ten Years | 90,725 | |
Total available-for-sale securities, After Ten Years | 43,258 | |
Total available-for-sale securities, Mortgage-backed and Equity | 1,187,157 | |
Available-for-sale, Estimated Fair Value | 1,409,520 | $ 917,424 |
Total held-to-maturity securities, One Year or less | 1,706 | |
Total held-to-maturity securities, One to Five Years | 40,117 | |
Total held-to-maturity securities, Five to Ten Years | 400,866 | |
Total held-to-maturity securities, After Ten Years | 379,191 | |
Total held-to-maturity securities, Mortgage-backed and Equity | 216,327 | |
Held-to-maturity securities, Fair value | 1,038,207 | 619,617 |
Total securities, One Year or less | 22,642 | |
Total securities, One to Five Years | 107,561 | |
Total securities, Five to Ten Years | 491,591 | |
Total securities, After Ten Years, Fair value | 422,449 | |
Total securities, Mortgage- backed and Equity | 1,403,484 | |
Total securities, Fair value | 2,447,727 | 1,537,041 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed and Equity | 1,176,080 | |
Available-for-sale, Estimated Fair Value | 1,176,080 | 701,113 |
Total held-to-maturity securities, Mortgage-backed and Equity | 216,327 | |
Held-to-maturity securities, Fair value | 216,327 | 82,020 |
Obligations of State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 7,684 | |
Total available-for-sale securities, One to Five Years | 21,210 | |
Total available-for-sale securities, Five to Ten Years | 38,302 | |
Total available-for-sale securities, After Ten Years | 13,069 | |
Available-for-sale, Estimated Fair Value | 80,265 | 91,433 |
Total held-to-maturity securities, One Year or less | 1,706 | |
Total held-to-maturity securities, One to Five Years | 39,229 | |
Total held-to-maturity securities, Five to Ten Years | 367,308 | |
Total held-to-maturity securities, After Ten Years | 379,191 | |
Held-to-maturity securities, Fair value | 787,434 | 530,801 |
Corporate Debt Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 13,252 | |
Total available-for-sale securities, One to Five Years | 29,369 | |
Total available-for-sale securities, Five to Ten Years | 14,041 | |
Total available-for-sale securities, After Ten Years | 1,931 | |
Available-for-sale, Estimated Fair Value | 58,593 | 25,996 |
Total held-to-maturity securities, One to Five Years | 888 | |
Total held-to-maturity securities, Five to Ten Years | 33,558 | |
Held-to-maturity securities, Fair value | 34,446 | 6,796 |
Obligations of Government Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One to Five Years | 16,865 | |
Total available-for-sale securities, Five to Ten Years | 38,382 | |
Total available-for-sale securities, After Ten Years | 28,258 | |
Available-for-sale, Estimated Fair Value | 83,505 | 87,736 |
Equity Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed and Equity | 11,077 | |
Available-for-sale, Estimated Fair Value | $ 11,077 | $ 11,146 |
Securities - Schedule of Fair64
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Held-to-maturity, Amortized Cost | $ 1,012,930 | $ 593,670 |
Securities - Schedule of Gross
Securities - Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Securities Gross Realized Gain Loss [Abstract] | ||||||||||
Gross realized gains | $ 1,029 | $ 1,131 | $ 922 | |||||||
Gross realized losses | (81) | (228) | (238) | |||||||
Net realized gains | $ 880 | $ 47 | $ 22 | $ 147 | $ 581 | $ 165 | $ 10 | $ 948 | $ 903 | $ 684 |
Securities - Schedule of Unreal
Securities - Schedule of Unrealized Losses on Investment Securities (Detail) $ in Thousands | Dec. 31, 2015USD ($)Security | Dec. 31, 2014USD ($)Security |
Obligations of Government Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 49,826 | $ 19,362 |
Less than 12 months, Unrealized Losses | $ (403) | $ (77) |
Less than 12 months, Number of Securities | Security | 11 | 5 |
12 months or more, Fair Value | $ 19,757 | |
12 months or more, Unrealized Losses | $ (238) | |
12 months or more, Number of Securities | Security | 4 | |
Fair Value, Total | $ 49,826 | $ 39,119 |
Unrealized Losses, Total | $ (403) | $ (315) |
Number of Securities Total | Security | 11 | 9 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,003,397 | $ 78,786 |
Less than 12 months, Unrealized Losses | $ (10,981) | $ (386) |
Less than 12 months, Number of Securities | Security | 187 | 19 |
12 months or more, Fair Value | $ 146,182 | $ 240,055 |
12 months or more, Unrealized Losses | $ (4,929) | $ (6,618) |
12 months or more, Number of Securities | Security | 31 | 43 |
Fair Value, Total | $ 1,149,579 | $ 318,841 |
Unrealized Losses, Total | $ (15,910) | $ (7,004) |
Number of Securities Total | Security | 218 | 62 |
Obligations of State and Political Subdivisions [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 58,705 | $ 12,615 |
Less than 12 months, Unrealized Losses | $ (400) | $ (96) |
Less than 12 months, Number of Securities | Security | 76 | 15 |
12 months or more, Fair Value | $ 23,691 | $ 61,548 |
12 months or more, Unrealized Losses | $ (372) | $ (952) |
12 months or more, Number of Securities | Security | 29 | 93 |
Fair Value, Total | $ 82,396 | $ 74,163 |
Unrealized Losses, Total | $ (772) | $ (1,048) |
Number of Securities Total | Security | 105 | 108 |
Corporate Debt Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 41,326 | $ 2,969 |
Less than 12 months, Unrealized Losses | $ (541) | $ (31) |
Less than 12 months, Number of Securities | Security | 12 | 1 |
12 months or more, Fair Value | $ 1,931 | $ 4,573 |
12 months or more, Unrealized Losses | $ (55) | $ (137) |
12 months or more, Number of Securities | Security | 1 | 2 |
Fair Value, Total | $ 43,257 | $ 7,542 |
Unrealized Losses, Total | $ (596) | $ (168) |
Number of Securities Total | Security | 13 | 3 |
Total Temporarily Impaired Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,154,632 | $ 113,732 |
Less than 12 months, Unrealized Losses | $ (12,327) | $ (590) |
Less than 12 months, Number of Securities | Security | 287 | 40 |
12 months or more, Fair Value | $ 171,804 | $ 325,933 |
12 months or more, Unrealized Losses | $ (5,356) | $ (7,945) |
12 months or more, Number of Securities | Security | 61 | 142 |
Fair Value, Total | $ 1,326,436 | $ 439,665 |
Unrealized Losses, Total | $ (17,683) | $ (8,535) |
Number of Securities Total | Security | 348 | 182 |
Equity Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,378 | |
Less than 12 months, Unrealized Losses | $ (2) | |
Less than 12 months, Number of Securities | Security | 1 | |
Fair Value, Total | $ 1,378 | |
Unrealized Losses, Total | $ (2) | |
Number of Securities Total | Security | 1 |
Loans and the Allowance for C67
Loans and the Allowance for Credit Losses - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Contract | Feb. 10, 2015USD ($) | Dec. 31, 2014USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | |||
Deferred loan fees and costs | $ 1,000,000 | $ 2,400,000 | |
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 15,800,000 | 15,200,000 | |
Internally assigned loan grades to residential real estate, home equity and consumer loans | 3,100,000 | 2,200,000 | |
Book value of acquired loans | 716,200,000 | ||
Fair value of acquired loans | 701,000,000 | ||
Pre-acquisition book value, acquired loans with deteriorated credit quality | 16,100,000 | ||
Contractually required payments, acquired loans with deteriorated credit quality | 21,800,000 | ||
Fair value of acquired loans with deteriorated credit quality | 10,900,000 | ||
Loans acquired accretable | 1,200,000 | $ 1,800,000 | |
Accretion, recognized in interest income, on acquired impaired loans | 600,000 | ||
Balance loans acquired with deteriorated credit quality | 9,289,000 | ||
Deteriorated credit quality loans acquired non-accretable difference | 9,100,000 | ||
Allowance for loan losses related to the acquired impaired loans | $ 0 | ||
Number of restructured contracts greater than $1 million | Contract | 0 | ||
Accruing and non accrual TDR permitted interest-only payment period | 3 months | ||
Other real estate owned | $ 5,669,000 | 4,920,000 | |
Performing Acquired Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Fair value of acquired loans | 690,100,000 | ||
Loans acquired accretable | $ 10,000,000 | ||
Maximum [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Percentage of TDRs defaulted during the period that were restructured within the last twelve months | 2.40% | ||
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Balance loans acquired with deteriorated credit quality | $ 161,000 | ||
Other real estate owned | 2,000,000 | $ 600,000 | |
Foreclosure proceedings in process on residential real estate loans | $ 4,100,000 |
Loans and the Allowance for C68
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 5,065,842 | $ 4,086,766 |
Loans held for sale | 7,899 | 5,865 |
Total loans | 5,073,741 | 4,092,631 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 344,748 | 262,643 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,911,633 | 1,682,817 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 737,878 | 638,410 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 2,256,381 | 1,945,460 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,247,800 | 928,770 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 406,894 | 244,095 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 416,889 | $ 330,031 |
Loans and the Allowance for C69
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | $ 44,654 | $ 47,368 | $ 44,654 | $ 47,368 | $ 52,699 | ||||||
Allowance for loan commitments, beginning balance | 455 | 602 | 455 | 602 | 341 | ||||||
Total beginning allowance for credit losses | 45,109 | 47,970 | 45,109 | 47,970 | 53,040 | ||||||
Provision for loan losses | 8,195 | 6,552 | 8,825 | ||||||||
Provision for loan commitments | 158 | (147) | 261 | ||||||||
Total provision for credit losses | $ 2,585 | $ 1,798 | $ 2,681 | 1,289 | $ 1,880 | $ 1,478 | $ 849 | 2,199 | 8,353 | 6,405 | 9,086 |
Charge-offs | (14,743) | (12,899) | (17,283) | ||||||||
Recoveries | 3,604 | 3,633 | 3,127 | ||||||||
Net charge-offs | (11,139) | (9,266) | (14,156) | ||||||||
Allowance for loan losses, ending balance | 41,710 | 44,654 | 41,710 | 44,654 | 47,368 | ||||||
Allowance for loan commitments, ending balance | 613 | 455 | 613 | 455 | 602 | ||||||
Total ending allowance for credit losses | 42,323 | 45,109 | 42,323 | 45,109 | 47,970 | ||||||
Commercial Real Estate - Land and Construction [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 5,654 | 6,056 | 5,654 | 6,056 | 3,741 | ||||||
Allowance for loan commitments, beginning balance | 194 | 301 | 194 | 301 | 27 | ||||||
Total beginning allowance for credit losses | 5,848 | 6,357 | 5,848 | 6,357 | 3,768 | ||||||
Provision for loan losses | (1,265) | (402) | 2,726 | ||||||||
Provision for loan commitments | (37) | (107) | 274 | ||||||||
Total provision for credit losses | (1,302) | (509) | 3,000 | ||||||||
Charge-offs | (536) | ||||||||||
Recoveries | 1 | 125 | |||||||||
Net charge-offs | 1 | (411) | |||||||||
Allowance for loan losses, ending balance | 4,390 | 5,654 | 4,390 | 5,654 | 6,056 | ||||||
Allowance for loan commitments, ending balance | 157 | 194 | 157 | 194 | 301 | ||||||
Total ending allowance for credit losses | 4,547 | 5,848 | 4,547 | 5,848 | 6,357 | ||||||
Commercial Real Estate - Improved Property [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 17,573 | 18,157 | 17,573 | 18,157 | 23,614 | ||||||
Allowance for loan commitments, beginning balance | 10 | 62 | 10 | 62 | 25 | ||||||
Total beginning allowance for credit losses | 17,583 | 18,219 | 17,583 | 18,219 | 23,639 | ||||||
Provision for loan losses | 1,250 | 1,239 | 843 | ||||||||
Provision for loan commitments | 16 | (52) | 37 | ||||||||
Total provision for credit losses | 1,266 | 1,187 | 880 | ||||||||
Charge-offs | (4,915) | (2,426) | (6,915) | ||||||||
Recoveries | 840 | 603 | 615 | ||||||||
Net charge-offs | (4,075) | (1,823) | (6,300) | ||||||||
Allowance for loan losses, ending balance | 14,748 | 17,573 | 14,748 | 17,573 | 18,157 | ||||||
Allowance for loan commitments, ending balance | 26 | 10 | 26 | 10 | 62 | ||||||
Total ending allowance for credit losses | 14,774 | 17,583 | 14,774 | 17,583 | 18,219 | ||||||
Commercial and Industrial [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 9,063 | 9,925 | 9,063 | 9,925 | 9,326 | ||||||
Allowance for loan commitments, beginning balance | 112 | 130 | 112 | 130 | 215 | ||||||
Total beginning allowance for credit losses | 9,175 | 10,055 | 9,175 | 10,055 | 9,541 | ||||||
Provision for loan losses | 3,289 | 1,429 | 1,633 | ||||||||
Provision for loan commitments | 148 | (18) | (85) | ||||||||
Total provision for credit losses | 3,437 | 1,411 | 1,548 | ||||||||
Charge-offs | (2,785) | (3,485) | (1,505) | ||||||||
Recoveries | 435 | 1,194 | 471 | ||||||||
Net charge-offs | (2,350) | (2,291) | (1,034) | ||||||||
Allowance for loan losses, ending balance | 10,002 | 9,063 | 10,002 | 9,063 | 9,925 | ||||||
Allowance for loan commitments, ending balance | 260 | 112 | 260 | 112 | 130 | ||||||
Total ending allowance for credit losses | 10,262 | 9,175 | 10,262 | 9,175 | 10,055 | ||||||
Deposit Overdraft [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 575 | 520 | 575 | 520 | 821 | ||||||
Total beginning allowance for credit losses | 575 | 520 | 575 | 520 | 821 | ||||||
Provision for loan losses | 391 | 601 | 324 | ||||||||
Total provision for credit losses | 391 | 601 | 324 | ||||||||
Charge-offs | (846) | (779) | (880) | ||||||||
Recoveries | 222 | 233 | 255 | ||||||||
Net charge-offs | (624) | (546) | (625) | ||||||||
Allowance for loan losses, ending balance | 342 | 575 | 342 | 575 | 520 | ||||||
Total ending allowance for credit losses | 342 | 575 | 342 | 575 | 520 | ||||||
Residential Real Estate [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 5,382 | 5,673 | 5,382 | 5,673 | 7,182 | ||||||
Allowance for loan commitments, beginning balance | 9 | 5 | 9 | 5 | 6 | ||||||
Total beginning allowance for credit losses | 5,391 | 5,678 | 5,391 | 5,678 | 7,188 | ||||||
Provision for loan losses | 399 | 1,692 | 1,169 | ||||||||
Provision for loan commitments | (2) | 4 | (1) | ||||||||
Total provision for credit losses | 397 | 1,696 | 1,168 | ||||||||
Charge-offs | (1,803) | (2,437) | (3,079) | ||||||||
Recoveries | 604 | 454 | 401 | ||||||||
Net charge-offs | (1,199) | (1,983) | (2,678) | ||||||||
Allowance for loan losses, ending balance | 4,582 | 5,382 | 4,582 | 5,382 | 5,673 | ||||||
Allowance for loan commitments, ending balance | 7 | 9 | 7 | 9 | 5 | ||||||
Total ending allowance for credit losses | 4,589 | 5,391 | 4,589 | 5,391 | 5,678 | ||||||
Consumer [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 4,078 | 5,020 | 4,078 | 5,020 | 5,557 | ||||||
Allowance for loan commitments, beginning balance | 40 | 19 | 40 | 19 | 19 | ||||||
Total beginning allowance for credit losses | 4,118 | 5,039 | 4,118 | 5,039 | 5,576 | ||||||
Provision for loan losses | 2,337 | 1,144 | 2,138 | ||||||||
Provision for loan commitments | 6 | 21 | |||||||||
Total provision for credit losses | 2,343 | 1,165 | 2,138 | ||||||||
Charge-offs | (2,892) | (3,120) | (3,819) | ||||||||
Recoveries | 1,240 | 1,034 | 1,144 | ||||||||
Net charge-offs | (1,652) | (2,086) | (2,675) | ||||||||
Allowance for loan losses, ending balance | 4,763 | 4,078 | 4,763 | 4,078 | 5,020 | ||||||
Allowance for loan commitments, ending balance | 46 | 40 | 46 | 40 | 19 | ||||||
Total ending allowance for credit losses | 4,809 | 4,118 | 4,809 | 4,118 | 5,039 | ||||||
Home Equity [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 2,329 | 2,017 | 2,329 | 2,017 | 2,458 | ||||||
Allowance for loan commitments, beginning balance | 90 | 85 | 90 | 85 | 49 | ||||||
Total beginning allowance for credit losses | $ 2,419 | $ 2,102 | 2,419 | 2,102 | 2,507 | ||||||
Provision for loan losses | 1,794 | 849 | (8) | ||||||||
Provision for loan commitments | 27 | 5 | 36 | ||||||||
Total provision for credit losses | 1,821 | 854 | 28 | ||||||||
Charge-offs | (1,502) | (652) | (549) | ||||||||
Recoveries | 262 | 115 | 116 | ||||||||
Net charge-offs | (1,240) | (537) | (433) | ||||||||
Allowance for loan losses, ending balance | 2,883 | 2,329 | 2,883 | 2,329 | 2,017 | ||||||
Allowance for loan commitments, ending balance | 117 | 90 | 117 | 90 | 85 | ||||||
Total ending allowance for credit losses | $ 3,000 | $ 2,419 | $ 3,000 | $ 2,419 | $ 2,102 |
Loans and the Allowance for C70
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | $ 1,521 | $ 3,798 | ||
Allowance for loans collectively evaluated for impairment | 40,189 | 40,856 | ||
Allowance for loan commitments | 613 | 455 | $ 602 | $ 341 |
Total allowance for credit losses | 42,323 | 45,109 | 47,970 | 53,040 |
Individually evaluated for impairment | 8,903 | 14,313 | ||
Collectively evaluated for impairment | 5,047,650 | 4,072,453 | ||
Acquired with deteriorated credit quality | 9,289 | |||
Total Loans | 5,065,842 | 4,086,766 | ||
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,390 | 5,654 | ||
Allowance for loan commitments | 157 | 194 | 301 | 27 |
Total allowance for credit losses | 4,547 | 5,848 | 6,357 | 3,768 |
Collectively evaluated for impairment | 343,832 | 262,643 | ||
Acquired with deteriorated credit quality | 916 | |||
Total Loans | 344,748 | 262,643 | ||
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 668 | 2,765 | ||
Allowance for loans collectively evaluated for impairment | 14,080 | 14,808 | ||
Allowance for loan commitments | 26 | 10 | 62 | 25 |
Total allowance for credit losses | 14,774 | 17,583 | 18,219 | 23,639 |
Individually evaluated for impairment | 4,031 | 11,469 | ||
Collectively evaluated for impairment | 1,899,738 | 1,671,348 | ||
Acquired with deteriorated credit quality | 7,864 | |||
Total Loans | 1,911,633 | 1,682,817 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 853 | 1,033 | ||
Allowance for loans collectively evaluated for impairment | 9,149 | 8,030 | ||
Allowance for loan commitments | 260 | 112 | 130 | 215 |
Total allowance for credit losses | 10,262 | 9,175 | 10,055 | 9,541 |
Individually evaluated for impairment | 4,872 | 2,844 | ||
Collectively evaluated for impairment | 732,957 | 635,566 | ||
Acquired with deteriorated credit quality | 49 | |||
Total Loans | 737,878 | 638,410 | ||
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 342 | 575 | ||
Total allowance for credit losses | 342 | 575 | 520 | 821 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,582 | 5,382 | ||
Allowance for loan commitments | 7 | 9 | 5 | 6 |
Total allowance for credit losses | 4,589 | 5,391 | 5,678 | 7,188 |
Collectively evaluated for impairment | 1,247,639 | 928,770 | ||
Acquired with deteriorated credit quality | 161 | |||
Total Loans | 1,247,800 | 928,770 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,763 | 4,078 | ||
Allowance for loan commitments | 46 | 40 | 19 | 19 |
Total allowance for credit losses | 4,809 | 4,118 | 5,039 | 5,576 |
Collectively evaluated for impairment | 406,622 | 244,095 | ||
Acquired with deteriorated credit quality | 272 | |||
Total Loans | 406,894 | 244,095 | ||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 2,883 | 2,329 | ||
Allowance for loan commitments | 117 | 90 | 85 | 49 |
Total allowance for credit losses | 3,000 | 2,419 | $ 2,102 | $ 2,507 |
Collectively evaluated for impairment | 416,862 | 330,031 | ||
Acquired with deteriorated credit quality | 27 | |||
Total Loans | $ 416,889 | $ 330,031 |
Loans and the Allowance for C71
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Receivables [Abstract] | |
Troubled debt restructuring threshold | $ 1 |
Loans and the Allowance for C72
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Summary of commercial loans by risk grade | ||
Commercial loans | $ 2,994,259 | $ 2,583,870 |
Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,914,553 | 2,502,731 |
Criticized - Compromised [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 26,298 | 34,288 |
Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 53,408 | 46,851 |
Commercial Real Estate - Land and Construction [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 344,748 | 262,643 |
Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 335,989 | 257,218 |
Commercial Real Estate - Land and Construction [Member] | Criticized - Compromised [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 5,527 | 3,645 |
Commercial Real Estate - Land and Construction [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,232 | 1,780 |
Commercial Real Estate - Improved Property [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,911,633 | 1,682,817 |
Commercial Real Estate - Improved Property [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,864,986 | 1,627,771 |
Commercial Real Estate - Improved Property [Member] | Criticized - Compromised [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 10,911 | 17,873 |
Commercial Real Estate - Improved Property [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 35,736 | 37,173 |
Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 737,878 | 638,410 |
Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 713,578 | 617,742 |
Commercial and Industrial [Member] | Criticized - Compromised [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 9,860 | 12,770 |
Commercial and Industrial [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | $ 14,440 | $ 7,898 |
Loans and the Allowance for C73
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Current | $ 5,028,841 | $ 4,042,825 |
Total Past Due | 37,001 | 43,941 |
Total Loans | 5,065,842 | 4,086,766 |
90 Days or More Past Due and Accruing | 3,126 | 2,288 |
Loans held for sale, current | 7,899 | 5,865 |
Loans held for sale | 7,899 | 5,865 |
Total loans, current | 5,036,740 | 4,048,690 |
Total loans | 5,073,741 | 4,092,631 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 412,450 | 325,291 |
Total Past Due | 4,439 | 4,740 |
Total Loans | 416,889 | 330,031 |
90 Days or More Past Due and Accruing | 407 | 570 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 2,245,650 | 1,926,719 |
Total Past Due | 10,731 | 18,741 |
Total Loans | 2,256,381 | 1,945,460 |
90 Days or More Past Due and Accruing | 71 | |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,234,839 | 915,968 |
Total Past Due | 12,961 | 12,802 |
Total Loans | 1,247,800 | 928,770 |
90 Days or More Past Due and Accruing | 2,159 | 1,306 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 401,242 | 240,365 |
Total Past Due | 5,652 | 3,730 |
Total Loans | 406,894 | 244,095 |
90 Days or More Past Due and Accruing | 527 | 319 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 344,184 | 261,356 |
Total Past Due | 564 | 1,287 |
Total Loans | 344,748 | 262,643 |
90 Days or More Past Due and Accruing | 71 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,901,466 | 1,665,363 |
Total Past Due | 10,167 | 17,454 |
Total Loans | 1,911,633 | 1,682,817 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 734,660 | 634,482 |
Total Past Due | 3,218 | 3,928 |
Total Loans | 737,878 | 638,410 |
90 Days or More Past Due and Accruing | 33 | 22 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 11,349 | 7,562 |
Total Past Due | 22,032 | 31,256 |
Total Loans | 33,381 | 38,818 |
TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 10,710 | 11,016 |
Total Past Due | 838 | 1,050 |
Total Loans | 11,548 | 12,066 |
Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 22,059 | 18,578 |
Total Past Due | 22,870 | 32,306 |
Total Loans | 44,929 | 50,884 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 8,963 | 8,500 |
30-59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,252 | 1,877 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 909 | 981 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,389 | 1,237 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 4,115 | 2,571 |
30-59 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 20 | |
30-59 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 909 | 961 |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 298 | 1,834 |
30-59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 943 | 2,884 |
30-59 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 390 | 151 |
30-59 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,333 | 3,035 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 5,760 | 9,976 |
60-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 314 | 895 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,097 | 4,772 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,871 | 3,384 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 764 | 685 |
60-89 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,097 | 4,772 |
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 714 | 240 |
60-89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,147 | 5,552 |
60-89 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 238 | 542 |
60-89 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,385 | 6,094 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 22,278 | 25,465 |
90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,873 | 1,968 |
90 Days or More Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 8,725 | 12,988 |
90 Days or More Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 8,701 | 8,181 |
90 Days or More Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 773 | 474 |
90 Days or More Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 564 | 1,267 |
90 Days or More Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 8,161 | 11,721 |
90 Days or More Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,206 | 1,854 |
90 Days or More Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 18,942 | 22,820 |
90 Days or More Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 210 | 357 |
90 Days or More Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | $ 19,152 | $ 23,177 |
Loans and the Allowance for C74
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Past due loans excluded TDRs past due and accruing | 90 days |
Loans and the Allowance for C75
Loans and the Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | $ 44,931 | $ 45,474 | |
Total impaired loans, Unpaid principal balance | 54,119 | 55,296 | |
Recorded Investment, With no specific allowance recorded | 37,045 | 41,062 | |
Total impaired loans, Recorded investment | 44,929 | 50,884 | |
Unpaid Principal Balance, With a specific allowance recorded | 9,188 | 9,822 | |
Recorded Investment, With a specific allowance recorded | 7,884 | 9,822 | |
Related Allowance, With a specific allowance recorded | 1,521 | 3,798 | |
Average recorded investment, with no related specific allowance | 9,475 | 4,870 | $ 4,289 |
Interest income recognized, With no related specific allowance | 292 | 443 | 111 |
Average recorded investment, With a specific allowance recorded | 9,475 | 4,870 | 4,289 |
Interest income recognized, With a specific allowance recorded | 292 | 443 | 111 |
Total impaired loans, Average recorded investment | 53,801 | 50,384 | 58,854 |
Total impaired loans, Interest income recognized | 1,997 | 2,049 | 1,880 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 18,560 | 20,077 | |
Recorded Investment, With no specific allowance recorded | 16,688 | 18,544 | |
Average recorded investment, with no related specific allowance | 17,876 | 18,829 | 19,915 |
Interest income recognized, With no related specific allowance | 862 | 855 | 803 |
Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 1,603 | 1,287 | |
Recorded Investment, With no specific allowance recorded | 1,294 | 1,086 | |
Average recorded investment, with no related specific allowance | 1,199 | 1,122 | 1,377 |
Interest income recognized, With no related specific allowance | 105 | 97 | 89 |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 3,562 | 2,890 | |
Recorded Investment, With no specific allowance recorded | 3,033 | 2,663 | |
Average recorded investment, with no related specific allowance | 2,924 | 2,356 | 2,262 |
Interest income recognized, With no related specific allowance | 90 | 75 | 68 |
Commercial Real Estate - Land and Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 2,126 | 1,588 | |
Recorded Investment, With no specific allowance recorded | 1,990 | 1,488 | |
Average recorded investment, with no related specific allowance | 2,156 | 1,977 | 4,552 |
Interest income recognized, With no related specific allowance | 41 | 35 | 87 |
Average recorded investment, With a specific allowance recorded | 1,234 | ||
Commercial Real Estate - Improved Property [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 14,817 | 16,480 | |
Recorded Investment, With no specific allowance recorded | 10,559 | 14,684 | |
Unpaid Principal Balance, With a specific allowance recorded | 3,012 | 7,980 | |
Recorded Investment, With a specific allowance recorded | 3,012 | 7,980 | |
Related Allowance, With a specific allowance recorded | 668 | 2,765 | |
Average recorded investment, with no related specific allowance | 17,192 | 17,669 | 22,702 |
Interest income recognized, With no related specific allowance | 437 | 441 | 610 |
Average recorded investment, With a specific allowance recorded | 5,896 | 2,795 | 2,746 |
Interest income recognized, With a specific allowance recorded | 348 | 22 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 4,263 | 3,152 | |
Recorded Investment, With no specific allowance recorded | 3,481 | 2,597 | |
Unpaid Principal Balance, With a specific allowance recorded | 6,176 | 1,842 | |
Recorded Investment, With a specific allowance recorded | 4,872 | 1,842 | |
Related Allowance, With a specific allowance recorded | 853 | 1,033 | |
Average recorded investment, with no related specific allowance | 2,979 | 3,561 | 3,757 |
Interest income recognized, With no related specific allowance | 170 | 103 | 112 |
Average recorded investment, With a specific allowance recorded | 3,579 | 2,075 | 309 |
Interest income recognized, With a specific allowance recorded | $ 292 | $ 95 | $ 89 |
Loans and the Allowance for C76
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | $ 33,381 | $ 38,818 |
TDRs | 16,165 | 17,486 |
Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 11,548 | 12,066 |
Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 4,617 | 5,420 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 1,023 | 1,488 |
TDRs | 1,398 | 464 |
Commercial Real Estate - Land and Construction [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 967 | |
Commercial Real Estate - Land and Construction [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 431 | 464 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 11,507 | 20,227 |
TDRs | 3,506 | 4,287 |
Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,064 | 2,437 |
Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,442 | 1,850 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 8,148 | 4,110 |
TDRs | 487 | 807 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 205 | 329 |
Commercial and Industrial [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 282 | 478 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 2,391 | 1,923 |
TDRs | 860 | 985 |
Home Equity [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 642 | 740 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 218 | 245 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 12,530 | 21,715 |
TDRs | 4,904 | 4,751 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 3,031 | 2,437 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,873 | 2,314 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 9,461 | 10,329 |
TDRs | 9,287 | 10,289 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 7,227 | 8,215 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,060 | 2,074 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 851 | 741 |
TDRs | 627 | 654 |
Consumer [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 443 | 345 |
Consumer [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ 184 | $ 309 |
Loans and the Allowance for C77
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Parenthetical) (Detail) $ in Millions | Dec. 31, 2015USD ($)Borrowers |
Receivables [Abstract] | |
Number of borrowers with loans greater than one million | Borrowers | 3 |
Borrowers with large amount of loans outstanding, minimum amount of loans per borrower | $ 1 |
Borrowers with large amount of loans outstanding, net | $ 8.9 |
Loans and the Allowance for C78
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($)Contract | Dec. 31, 2014USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 52 | 31 |
Pre-Modification Outstanding Recorded Investment | $ 3,162 | $ 2,492 |
Post-Modification Outstanding Recorded Investment | $ 2,570 | $ 2,167 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 9 | |
Pre-Modification Outstanding Recorded Investment | $ 1,065 | |
Post-Modification Outstanding Recorded Investment | $ 1,019 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 7 | 9 |
Pre-Modification Outstanding Recorded Investment | $ 1,195 | $ 1,638 |
Post-Modification Outstanding Recorded Investment | $ 708 | $ 1,437 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 3 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 98 | $ 231 |
Post-Modification Outstanding Recorded Investment | $ 92 | $ 163 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 16 | 9 |
Pre-Modification Outstanding Recorded Investment | $ 2,260 | $ 1,638 |
Post-Modification Outstanding Recorded Investment | $ 1,727 | $ 1,437 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 8 | 8 |
Pre-Modification Outstanding Recorded Investment | $ 468 | $ 424 |
Post-Modification Outstanding Recorded Investment | $ 439 | $ 400 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 24 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 329 | $ 199 |
Post-Modification Outstanding Recorded Investment | $ 306 | $ 167 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 7 | |
Post-Modification Outstanding Recorded Investment | $ 6 |
Loans and the Allowance for C79
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($)Defaults | Dec. 31, 2014USD ($)Defaults | |
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 3 | 1 |
Recorded Investment | $ | $ 392 | $ 26 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | |
Recorded Investment | $ | $ 370 | |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 22 | |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 26 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | |
Recorded Investment | $ | $ 370 |
Loans and the Allowance for C80
Loans and the Allowance for Credit Losses - Recognition of Interest Income on Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Receivables [Abstract] | |||
Average impaired loans | $ 53,801 | $ 50,384 | $ 58,854 |
Amount of contractual interest income on impaired loans | 3,061 | 3,260 | 3,225 |
Amount of interest income recognized on impaired loans | $ 1,997 | $ 2,049 | $ 1,880 |
Loans and the Allowance for C81
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Receivables [Abstract] | ||
Other real estate owned | $ 5,669 | $ 4,920 |
Repossessed assets | 156 | 162 |
Total other real estate owned and repossessed assets | $ 5,825 | $ 5,082 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Abstract] | ||
Land and improvements | $ 32,665 | $ 28,158 |
Buildings and improvements | 121,645 | 105,436 |
Furniture and equipment | 71,959 | 66,149 |
Total cost | 226,269 | 199,743 |
Accumulated depreciation and amortization | (114,066) | (106,608) |
Total premises and equipment, net | $ 112,203 | $ 93,135 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense charged | $ 8.1 | $ 7.4 | $ 7 |
Rent expense under leases | $ 3.1 | $ 2.7 | $ 2.7 |
Premises and Equipment - Future
Premises and Equipment - Future Minimum Lease Payments Under Non-cancellable Leases (Detail) | Dec. 31, 2015USD ($) |
Property, Plant and Equipment [Abstract] | |
2,016 | $ 2,872,000 |
2,017 | 2,502,000 |
2,018 | 1,973,000 |
2,019 | 1,624,000 |
2,020 | 1,541,000 |
2021 and thereafter | 12,507,000 |
Total | $ 23,019,000 |
Goodwill and Other Intangible85
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | Feb. 10, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Goodwill | $ 480,600 | $ 312,100 | ||
Other intangible assets | 10,336 | 7,408 | ||
Amortization of intangible assets | 2,400 | 1,900 | $ 2,300 | |
Amortization of intangible assets | 3,136 | $ 1,920 | $ 2,288 | |
Amortization expense expected to be recognized in year one | 2,185 | |||
Amortization expense expected to be recognized in year two | 1,889 | |||
Amortization expense expected to be recognized in year three | 1,601 | |||
ESB Financial Corporation [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Goodwill acquired | $ 168,453 | 168,500 | ||
ESB Financial Corporation [Member] | Core Deposits [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible assets acquired | 5,300 | |||
ESB Financial Corporation [Member] | Noncompete Agreements [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Amortization of intangible assets | 700 | |||
Amortization expense expected to be recognized in year one | 600 | |||
Amortization expense expected to be recognized in year two | 600 | |||
Amortization expense expected to be recognized in year three | $ 300 | |||
Minimum [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 10 years | |||
Minimum [Member] | ESB Financial Corporation [Member] | Noncompete Agreements [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 1 year | |||
Maximum [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 16 years | |||
Maximum [Member] | ESB Financial Corporation [Member] | Noncompete Agreements [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 4 years |
Goodwill and Other Intangible86
Goodwill and Other Intangible Assets - WesBanco's Capitalized Other Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Other intangible assets: | ||
Gross carrying amount | $ 28,674 | $ 38,048 |
Accumulated amortization | (18,338) | (30,640) |
Net carrying amount of other intangible assets | $ 10,336 | $ 7,408 |
Goodwill and Other Intangible87
Goodwill and Other Intangible Assets - Schedule of Future Amortization on Intangible Assets (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,016 | $ 2,185 |
2,017 | 1,889 |
2,018 | 1,601 |
2,019 | 1,329 |
2,020 | $ 1,090 |
Investments in Limited Partne88
Investments in Limited Partnerships - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)Partnership | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Schedule of Investments [Line Items] | |||
Amount invested in partnerships | $ 3.1 | $ 1.7 | |
Unfunded equity commitments in other liabilities | 2.1 | 0.6 | |
Income (loss) from equity method investments | 0.6 | 0.9 | $ 1.2 |
Tax benefits including low-income housing and historic tax credits | $ 0.5 | 0.7 | 0.8 |
Number of limited partnerships held | Partnership | 7 | ||
Investment in partnership recorded in other assets | $ 5.2 | 4.4 | |
Partnership gains under equity method | 0 | $ 0.3 | $ 0 |
AMSCO Inc [Member] | |||
Schedule of Investments [Line Items] | |||
Income (loss) from equity method investments | 0.3 | ||
Equity method investment | $ 7.7 |
Certificates of Deposit - Addit
Certificates of Deposit - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Disclosure [Abstract] | |||
Certificates of deposit in denominations of $100 thousand or more | $ 780.1 | $ 706.1 | |
Interest expense on certificates of deposit of $100 thousand or more | $ 4.9 | $ 7.5 | $ 13 |
Certificates of Deposit - Sched
Certificates of Deposit - Schedule of Maturities of Total Certificates of Deposit (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
2,016 | $ 922,773 | |
2,017 | 252,066 | |
2,018 | 148,493 | |
2,019 | 88,590 | |
2,020 | 117,640 | |
2021 and thereafter | 28,276 | |
Total | $ 1,557,838 | $ 1,305,096 |
FHLB and Other Short-Term Bor91
FHLB and Other Short-Term Borrowings - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Borrowings | $ 1,041,750,000 | $ 223,126,000 |
Weighted-average rate, Total | 1.17% | 0.91% |
FHLB stock owned by WesBanco pledged as collateral on these advances | $ 45,500,000 | $ 11,600,000 |
Remaining maximum borrowing capacity | 1,100,000,000 | 1,500,000,000 |
Other short term borrowings | 81,356,000 | 80,690,000 |
Securities sold under agreements to repurchase | $ 81,400,000 | $ 80,700,000 |
Securities sold under agreements to repurchase, weighted average interest rate | 0.32% | 1.36% |
Federal funds purchased | $ 0 | $ 0 |
Outstanding balance | 0 | $ 0 |
Revolving Credit Facility [Member] | ||
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Revolving line of credit accrued interest at LIBOR rate, provides for aggregate outstanding borrowings | $ 25,000,000 | |
Maturity date of revolving credit facility | Sep. 2, 2016 |
FHLB and Other Short-Term Bor92
FHLB and Other Short-Term Borrowings - Schedule of Aggregate Annual Maturities and Weighted-Average Interest Rates of FHLB Borrowing (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract] | ||
2,016 | $ 213,052 | |
2,017 | 509,788 | |
2,018 | 310,996 | |
2,019 | 4,645 | |
2,020 | 852 | |
2021 and thereafter | 2,417 | |
Total | $ 1,041,750 | $ 223,126 |
2,016 | 0.82% | |
2,017 | 1.17% | |
2,018 | 1.32% | |
2,019 | 4.12% | |
2,020 | 5.88% | |
2021 and thereafter | 2.13% | |
Total | 1.17% |
Junior Subordinated Debt Owed93
Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts - Additional Information (Detail) - USD ($) | May. 11, 2015 | Dec. 31, 2015 | Dec. 31, 2013 |
Trust Preferred Securities [Line Items] | |||
Description of deferment period for payment of interest on junior subordinated debt under trust | 20 consecutive quarterly periods | ||
Minimum assets to continue counting existing trust preferred securities | $ 15,000,000,000 | ||
Aggregate redemption price, excluding accrued interest | $ 36,083,000 | $ 7,732,000 | |
ESB Capital Trust IV [Member] | |||
Trust Preferred Securities [Line Items] | |||
Aggregate redemption price, excluding accrued interest | $ 36,100,000 |
Junior Subordinated Debt Owed94
Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts - Schedule of Junior Subordinated Debt by Trusts (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 103,000 | |
Common Securities | 3,196 | |
Junior Subordinated Debt | 106,196 | $ 106,176 |
WesBanco Capital Trust II [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | 13,000 | |
Common Securities | 410 | |
Junior Subordinated Debt | $ 13,410 | |
Stated Maturity Date | Jun. 30, 2033 | |
Optional Redemption Date | Jun. 30, 2008 | |
WesBanco Capital Statutory Trust III [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 17,000 | |
Common Securities | 526 | |
Junior Subordinated Debt | $ 17,526 | |
Stated Maturity Date | Jun. 26, 2033 | |
Optional Redemption Date | Jun. 26, 2008 | |
WesBanco Capital Trust IV [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 20,000 | |
Common Securities | 619 | |
Junior Subordinated Debt | $ 20,619 | |
Stated Maturity Date | Jun. 17, 2034 | |
Optional Redemption Date | Jun. 17, 2009 | |
WesBanco Capital Trust V [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 20,000 | |
Common Securities | 619 | |
Junior Subordinated Debt | $ 20,619 | |
Stated Maturity Date | Jun. 17, 2034 | |
Optional Redemption Date | Jun. 17, 2009 | |
WesBanco Capital Trust VI [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 15,000 | |
Common Securities | 464 | |
Junior Subordinated Debt | $ 15,464 | |
Stated Maturity Date | Mar. 17, 2035 | |
Optional Redemption Date | Mar. 17, 2010 | |
Oak Hill Capital Trust 2 [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 5,000 | |
Common Securities | 155 | |
Junior Subordinated Debt | $ 5,155 | |
Stated Maturity Date | Oct. 18, 2034 | |
Optional Redemption Date | Oct. 18, 2009 | |
Oak Hill Capital Trust 3 [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 8,000 | |
Common Securities | 248 | |
Junior Subordinated Debt | $ 8,248 | |
Stated Maturity Date | Oct. 18, 2034 | |
Optional Redemption Date | Oct. 18, 2009 | |
Oak Hill Capital Trust 4 [Member] | ||
Trust Preferred Securities [Line Items] | ||
Trust Preferred Securities | $ 5,000 | |
Common Securities | 155 | |
Junior Subordinated Debt | $ 5,155 | |
Stated Maturity Date | Jun. 30, 2035 | |
Optional Redemption Date | Jun. 30, 2015 |
Junior Subordinated Debt Owed95
Junior Subordinated Debt Owed to Unconsolidated Subsidiary Trusts - Schedule of Junior Subordinated Debt by Trusts (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
WesBanco Capital Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 3.15% |
Variable rate based on the three-month LIBOR plus, current rate | 3.75% |
WesBanco Capital Statutory Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 3.10% |
Variable rate based on the three-month LIBOR plus, current rate | 3.70% |
WesBanco Capital Trust IV [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.65% |
Variable rate based on the three-month LIBOR plus, current rate | 3.18% |
WesBanco Capital Trust V [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.65% |
Variable rate based on the three-month LIBOR plus, current rate | 3.18% |
WesBanco Capital Trust VI [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.77% |
Variable rate based on the three-month LIBOR plus, current rate | 2.30% |
Oak Hill Capital Trust 2 [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.40% |
Variable rate based on the three-month LIBOR plus, current rate | 2.72% |
Oak Hill Capital Trust 3 [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.30% |
Variable rate based on the three-month LIBOR plus, current rate | 2.62% |
Oak Hill Capital Trust 4 [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.60% |
Variable rate based on the three-month LIBOR plus, current rate | 2.20% |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | Nov. 18, 2015 | Jun. 02, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Benefits bases on years of service and compensation, years | 5 years | ||||
Future amortization of net loss | $ 2,800,000 | ||||
Future net periodic pension costs | $ 26,000 | ||||
Average remaining service period of unrecognized net losses | 10 years | ||||
Maximum amount of pension plan invested | 5.00% | ||||
Maximum common stock percentage of market value of investee | 5.00% | ||||
Maximum period for invested in bonds or notes issued | 20 years | ||||
Number of equity shares | 55,300 | 55,300 | |||
Common stock fair market value | $ 1,700,000 | $ 1,900,000 | |||
Expected voluntary contribution for the year 2016 | 7,500,000 | ||||
Contribution of pension fund | $ 7,500,000 | $ 7,500,000 | $ 500,000 | ||
Eligible employee contributions specified percentage one | 3.00% | 3.00% | 3.00% | ||
Eligible employee contributions specified percentage two | 2.00% | 2.00% | 2.00% | ||
ESOP | $ 0 | $ 0 | $ 0 | ||
Eligibility percentage of employee contributions | 100.00% | 100.00% | 100.00% | ||
Eligibility percentage of employee contributions | 50.00% | 50.00% | 50.00% | ||
Compensation expense for Annual Bonus | $ 1,300,000 | $ 1,500,000 | $ 1,300,000 | ||
Stock options granted to selected participants | 94,800 | ||||
Stock options granted to selected participants exercise price per share | $ 31.58 | ||||
Total intrinsic value of options exercised | $ 600,000 | 600,000 | |||
Cash received from stock option exercised | 1,400,000 | 1,900,000 | |||
Tax benefit realized from stock options exercised | 200,000 | 200,000 | |||
Total intrinsic value of the outstanding shares | 1,000,000 | ||||
Total intrinsic value of the shares exercisable | $ 1,000,000 | ||||
Shareholder Return Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percentage of shares earned by participants | 200.00% | ||||
Total shareholder return measurement period | 3 years | ||||
Restricted shares vesting period | 3 years | ||||
Number of shares granted | 12,000 | ||||
KSOP [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares held by KSOP | 552,868 | ||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 2,500,000 | $ 2,200,000 | 2,100,000 | ||
Future issuance under equity compensation plans | 484,430 | 519,773 | |||
Equity Compensation Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Future issuance under equity compensation plans | 288,541 | 443,388 | |||
Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 500,000 | $ 400,000 | 300,000 | ||
Options grant expired | 7 years | ||||
Total unrecognized compensation expense related to non-vested stock option grants | $ 200,000 | ||||
Expense recognition period | 1 year | ||||
Stock Option [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options grant expired | 10 years | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 1,200,000 | $ 1,000,000 | $ 800,000 | ||
Restricted shares vesting period | 36 months | ||||
Number of shares granted | 49,550 | ||||
Expense recognition period | 1 year 6 months | ||||
Fair value of restricted stock granted | $ 31.58 | ||||
Total unrecognized compensation expense related to non-vested restricted stock grants | $ 1,700,000 | ||||
Selected Participants Including Certain Executive Officers [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock options granted to selected participants | 94,800 | ||||
Stock options granted to selected participants exercise price per share | $ 31.58 |
Employee Benefit Plans - Summar
Employee Benefit Plans - Summary of Benefit Obligations and Funded Status of the Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation Related Costs [Abstract] | |||
Accumulated benefit obligation at end of year | $ 99,312 | $ 103,447 | |
Change in projected benefit obligation: | |||
Projected benefit obligation at beginning of year | 118,261 | 90,640 | |
Service cost | 3,355 | 2,909 | $ 3,120 |
Interest cost | 4,870 | 4,745 | 4,096 |
Actuarial (gain) loss | (13,413) | 25,392 | |
Benefits paid | (3,673) | (5,425) | |
Projected benefit obligation at end of year | 109,400 | 118,261 | 90,640 |
Change in fair value of plan assets: | |||
Fair value of plan assets at beginning of year | 110,037 | 100,274 | |
Actual return on plan assets | (572) | 7,688 | |
Employer contribution | 7,500 | 7,500 | 500 |
Benefits paid | (3,673) | (5,425) | |
Fair value of plan assets at end of year | 113,292 | 110,037 | $ 100,274 |
Amounts recognized in the statement of financial position: | |||
Funded status | 3,892 | (8,224) | |
Net amounts recognized as receivable (payable) pension costs in the consolidated balance sheets | 3,892 | (8,224) | |
Amounts recognized in accumulated other comprehensive income consist of: | |||
Unrecognized prior service cost | 156 | 182 | |
Unrecognized net loss | 27,549 | 35,834 | |
Net amounts recognized in accumulated other comprehensive income (before tax) | $ 27,705 | $ 36,016 | |
Weighted average assumptions used to determine benefit obligations: | |||
Discount rate | 4.74% | 4.33% | |
Rate of compensation increase | 3.82% | 3.77% | |
Expected long-term return on assets | 6.79% | 7.00% |
Employee Benefit Plans - Compon
Employee Benefit Plans - Components of and Weighted-Average Assumptions Used in Determining Net Periodic Benefit Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Components of net periodic benefit cost: | |||
Service cost-benefits earned during year | $ 3,355 | $ 2,909 | $ 3,120 |
Interest cost on projected benefit obligation | 4,870 | 4,745 | 4,096 |
Expected return on plan assets | (7,735) | (7,229) | (5,993) |
Amortization of prior service cost | 26 | 45 | 45 |
Amortization of net loss | 3,179 | 1,471 | 3,534 |
Net periodic pension cost | 3,695 | 1,941 | 4,802 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net (gain) loss for period | (5,106) | 24,934 | (17,751) |
Amortization of prior service cost | (26) | (45) | (45) |
Amortization of net loss | (3,179) | (1,471) | (3,534) |
Total recognized in other comprehensive income | (8,311) | 23,418 | (21,330) |
Total recognized in net periodic pension cost and other comprehensive income | $ (4,616) | $ 25,359 | $ (16,528) |
Weighted-average assumptions used to determine net periodic pension cost: | |||
Discount rate | 4.33% | 5.17% | 4.36% |
Rate of compensation increase | 3.77% | 3.97% | 3.00% |
Expected long-term return on assets | 7.00% | 7.25% | 7.25% |
Employee Benefit Plans - Summ99
Employee Benefit Plans - Summary of Weighted-Average Asset Allocations by Asset Category (Detail) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Total | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation for 2014 Minimum | 55.00% | |
Target Allocation for 2014 Maximum | 75.00% | |
Total | 61.00% | 65.00% |
Debt Securities [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation for 2014 Minimum | 25.00% | |
Target Allocation for 2014 Maximum | 55.00% | |
Total | 34.00% | 32.00% |
Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation for 2014 Minimum | 0.00% | |
Target Allocation for 2014 Maximum | 5.00% | |
Total | 5.00% | 3.00% |
Employee Benefit Plans - Fair V
Employee Benefit Plans - Fair Values of the WesBanco's Pension Plan Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | $ 115,061 | $ 114,216 |
Registered Investment Companies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 23,741 | 17,182 |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 56,098 | 65,869 |
Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 16,802 | 15,726 |
Municipal Obligations [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 3,034 | 2,178 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 15,386 | 13,261 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 79,839 | 83,051 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Registered Investment Companies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 23,741 | 17,182 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 56,098 | 65,869 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 35,222 | 31,165 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 16,802 | 15,726 |
Significant Other Observable Inputs (Level 2) [Member] | Municipal Obligations [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 3,034 | 2,178 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | $ 15,386 | $ 13,261 |
Employee Benefit Plans - Fai101
Employee Benefit Plans - Fair Values of the WesBanco's Pension Plan Assets (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Compensation Related Costs [Abstract] | |||
Net assets available for benefits | $ 113,292 | $ 110,037 | $ 100,274 |
Employee Benefit Plans - Estima
Employee Benefit Plans - Estimated Benefits to be Paid in Each of Next Five Years and in the Aggregate for the Five Years Thereafter (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Compensation Related Costs [Abstract] | |
2,016 | $ 3,301 |
2,017 | 3,870 |
2,018 | 4,136 |
2,019 | 4,424 |
2,020 | 4,766 |
2021 to 2025 | $ 30,224 |
Employee Benefit Plans - Signif
Employee Benefit Plans - Significant Assumptions Used in Calculating the Fair Value of the Grants (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation Related Costs [Abstract] | |||
Weighted-average life | 4 years 10 months 24 days | 4 years 9 months 18 days | 4 years 6 months |
Risk-free interest rate | 1.54% | 1.37% | 0.74% |
Dividend yield | 2.91% | 3.06% | 3.04% |
Volatility factor | 26.27% | 28.82% | 32.31% |
Fair value of the grants | $ 5.57 | $ 5.41 | $ 5.05 |
Employee Benefit Plans - Sum104
Employee Benefit Plans - Summary of Activity for the Stock Option Component of the Incentive Plan (Detail) | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Compensation Related Costs [Abstract] | |
Number of options, Outstanding at beginning of the year | shares | 258,450 |
Number of options, Granted during the year | shares | 94,800 |
Number of options, Exercised during the year | shares | (60,275) |
Number of options, Forfeited or expired during the year | shares | (5,475) |
Number of options, Outstanding at end of the year | shares | 287,500 |
Number of options, Exercisable at year end | shares | 240,975 |
Weighted average exercise price per share, Outstanding at beginning of the year | $ / shares | $ 24.36 |
Weighted average exercise price per share, Granted during the year | $ / shares | 31.58 |
Weighted average exercise price per share, Exercised during the year | $ / shares | 22.87 |
Weighted average exercise price per share, Forfeited or expired during the year | $ / shares | 26.32 |
Weighted average exercise price per share, Outstanding at end of the year | $ / shares | 27.02 |
Weighted average exercise price per share, Exercisable at year end | $ / shares | $ 26.14 |
Employee Benefit Plans - Sum105
Employee Benefit Plans - Summary of Average Remaining Life of the Stock Options (Detail) | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 240,975 |
Exercise Price Range Per Share Minimum | $ 19.27 |
Exercise Price Range Per Share Maximum | $ 31.58 |
Options Outstanding | shares | 287,500 |
Weighted Average Exercise Price | $ 27.02 |
Weighted Avg. Remaining Contractual Life in Years | 4 years 11 months 5 days |
2010 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 14,300 |
Exercise Price Range Per Share Minimum | $ 19.27 |
Options Outstanding | shares | 14,300 |
Weighted Average Exercise Price | $ 19.27 |
Weighted Avg. Remaining Contractual Life in Years | 1 year 4 months 17 days |
2011 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 18,500 |
Exercise Price Range Per Share Minimum | $ 19.76 |
Options Outstanding | shares | 18,500 |
Weighted Average Exercise Price | $ 19.76 |
Weighted Avg. Remaining Contractual Life in Years | 2 years 4 months 17 days |
2012 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 28,125 |
Exercise Price Range Per Share Minimum | $ 20.02 |
Options Outstanding | shares | 28,125 |
Weighted Average Exercise Price | $ 20.02 |
Weighted Avg. Remaining Contractual Life in Years | 3 years 4 months 17 days |
2013 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 57,875 |
Exercise Price Range Per Share Minimum | $ 25 |
Options Outstanding | shares | 57,875 |
Weighted Average Exercise Price | $ 25 |
Weighted Avg. Remaining Contractual Life in Years | 4 years 4 months 17 days |
2014 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 75,650 |
Exercise Price Range Per Share Minimum | $ 28.79 |
Options Outstanding | shares | 75,650 |
Weighted Average Exercise Price | $ 28.79 |
Weighted Avg. Remaining Contractual Life in Years | 5 years 4 months 21 days |
2015 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 46,525 |
Exercise Price Range Per Share Minimum | $ 31.58 |
Options Outstanding | shares | 93,050 |
Weighted Average Exercise Price | $ 31.58 |
Weighted Avg. Remaining Contractual Life in Years | 6 years 5 months 1 day |
Employee Benefit Plans - Schedu
Employee Benefit Plans - Schedule of Activity for the Restricted Stock Component of the Plan (Detail) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Restricted Stock Beginning Balance | shares | 133,468 |
Restricted Stock, Granted | shares | 49,550 |
Restricted Stock, Vested | shares | (41,885) |
Restricted Stock, Forfeited | shares | (1,503) |
Restricted Stock, Dividend reinvestment | shares | 3,826 |
Restricted Stock Ending Balance | shares | 143,456 |
Weighted Average Grant Date Fair Value Per Share Beginning Balance | $ / shares | $ 25.19 |
Weighted Average Grant Date Fair Value Per Share, Granted | $ / shares | 31.58 |
Weighted Average Grant Date Fair Value Per Share, Vested | $ / shares | 20.73 |
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares | 24.29 |
Weighted Average Grant Date Fair Value Per Share, Dividend reinvestment | $ / shares | 33.11 |
Weighted Average Grant Date Fair Value Per Share Ending Balance | $ / shares | $ 28.92 |
Other Operating Expenses - Sche
Other Operating Expenses - Schedule of Other Operating Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Costs and Expenses [Abstract] | |||
Franchise and other miscellaneous taxes | $ 5,924 | $ 6,748 | $ 5,887 |
Consulting, regulatory and advisory fees | 4,959 | 4,405 | 4,445 |
ATM and electronic banking interchange expenses | 4,463 | 4,222 | 4,310 |
Postage and courier expenses | 3,720 | 3,373 | 3,317 |
Supplies | 2,841 | 2,425 | 2,675 |
Legal fees | 2,418 | 2,531 | 2,549 |
Communications | 1,537 | 1,555 | 2,717 |
Other real estate owned and foreclosure expenses | 546 | 1,101 | 1,753 |
Other | 12,479 | 10,836 | 9,684 |
Total other operating expenses | $ 38,887 | $ 37,196 | $ 37,337 |
Income Taxes - Reconciliation f
Income Taxes - Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Net tax-exempt interest income on securities of state and political subdivisions | (6.80%) | (6.40%) | (6.70%) |
State income taxes, net of federal tax effect | 1.60% | 1.40% | 1.60% |
Bank-owned life insurance | (1.60%) | (1.70%) | (1.90%) |
General business credits | (2.10%) | (3.10%) | (3.50%) |
All other-net | (0.10%) | 0.10% | |
Effective tax rate | 26.00% | 25.30% | 24.50% |
Income Taxes - Provision for In
Income Taxes - Provision for Income Taxes Applicable to Income Before Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current: | |||||||||||
Federal | $ 15,661 | $ 13,346 | $ 12,399 | ||||||||
State | 2,089 | 1,684 | 1,837 | ||||||||
Deferred: | |||||||||||
Federal | 10,047 | 8,337 | 6,267 | ||||||||
State | 618 | 353 | 260 | ||||||||
Total | $ 8,165 | $ 7,768 | $ 7,962 | $ 4,528 | $ 5,182 | $ 6,358 | $ 6,520 | $ 5,659 | $ 28,415 | $ 23,720 | $ 20,763 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Amounts were Recorded in Shareholder's Equity as Elements of Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Securities and defined benefit pension plan unrecognized items | $ (1,202) | $ (3,538) | $ (3,707) |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred tax assets: | |||
Allowance for loan losses | $ 15,246 | $ 16,386 | $ 17,414 |
Compensation and benefits | 6,114 | 8,764 | 2,324 |
Security gains and losses | 2,964 | 2,817 | 3,261 |
Purchase accounting adjustments | 1,275 | 1,497 | 3,544 |
Partnership adjustments | 1,921 | 1,158 | 951 |
Non-accrual interest income | 2,254 | 2,129 | 1,850 |
Tax credit carryforwards | 13,000 | 10,163 | 11,517 |
Federal net operating loss carryforwards | 597 | 1,415 | |
Fair value adjustments on securities available-for-sale | 1,979 | 2,772 | |
Other | 2,264 | 2,169 | 2,224 |
Gross deferred tax assets | 47,017 | 45,680 | 47,272 |
Deferred tax liabilities: | |||
Depreciation and amortization | (1,530) | (1,900) | (1,416) |
Accretion on securities | (2) | (295) | (262) |
Fair value adjustments on securities available-for-sale | (2,297) | ||
Other | (1,511) | (1,728) | (983) |
Gross deferred tax liabilities | (3,043) | (6,220) | (2,661) |
Net deferred tax assets | $ 43,974 | $ 39,460 | $ 44,611 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Line Items] | ||||
Valuation allowance of deferred tax assets | $ 100,000 | |||
General business credit carryforwards | 4,700,000 | |||
Alternative minimum tax credits | 8,300,000 | |||
Qualifying and non-qualifying tax bad debt reserves | 32,900,000 | $ 15,200,000 | ||
Provision for income taxes | 0 | |||
Related amount of unrecognized deferred tax liability | 12,000,000 | 5,600,000 | ||
Federal and state income taxes applicable to securities transactions | 300,000 | 300,000 | $ 200,000 | |
Unrecognized tax benefits and interest | 326,000 | 701,000 | $ 673,000 | $ 668,000 |
Unrecognized tax benefits that would affect the effective tax rate | 0 | |||
Accrued interest related to uncertain tax positions | $ 15,000 | $ 23,000 | ||
Earliest Tax Year [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Earliest year for tax examination | 2,013 |
Income Taxes - Schedule of Unre
Income Taxes - Schedule of Unrecognized Tax Benefits (Excluding Interest and Federal Income Tax Benefit of Unrecognized State Tax Benefits) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of year | $ 701 | $ 673 | $ 668 |
Additions based on tax positions related to the current year | 104 | 155 | 140 |
Reductions for tax positions of prior years | (100) | ||
Reductions due to the statute of limitations | (379) | (127) | (135) |
Settlements | 0 | 0 | 0 |
Balance at end of year | $ 326 | $ 701 | $ 673 |
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 | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | $ 1,409,520 | $ 917,424 |
Other real estate owned and repossessed assets | 5,825 | 5,082 |
Loans held for sale | 7,899 | 5,865 |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,409,520 | 917,424 |
Total recurring fair value measurements | 1,409,520 | 917,424 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 6,363 | 6,024 |
Other real estate owned and repossessed assets | 5,825 | 5,082 |
Loans held for sale | 7,899 | 5,865 |
Total nonrecurring fair value measurements | 20,087 | 16,971 |
Obligations of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 83,505 | 87,736 |
Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 83,505 | 87,736 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,176,080 | 701,113 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,176,080 | 701,113 |
Obligations of State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 80,265 | 91,433 |
Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 80,265 | 91,433 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 58,593 | 25,996 |
Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 58,593 | 25,996 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 11,077 | 11,146 |
Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 11,077 | 11,146 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 7,961 | 8,440 |
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] | ||
Total securities - available-for-sale | 7,961 | 8,440 |
Total recurring fair value measurements | 7,961 | 8,440 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 7,961 | 8,440 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,401,559 | 908,984 |
Loans held for sale | 7,899 | 5,865 |
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] | ||
Total securities - available-for-sale | 1,401,559 | 908,984 |
Total recurring fair value measurements | 1,401,559 | 908,984 |
Significant Other Observable Inputs (Level 2) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 7,899 | 5,865 |
Total nonrecurring fair value measurements | 7,899 | 5,865 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 83,505 | 87,736 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,176,080 | 701,113 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 80,265 | 91,433 |
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] | ||
Total securities - available-for-sale | 58,593 | 25,996 |
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 3,116 | 2,706 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 6,363 | 6,024 |
Other real estate owned and repossessed assets | 5,825 | 5,082 |
Total nonrecurring fair value measurements | $ 12,188 | $ 11,106 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value Disclosures [Abstract] | ||
Fair value transfer amount | $ 0 | $ 0 |
Fair Value Measurement - Sch116
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Other real estate owned and repossessed assets | $ 5,825 | $ 5,082 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 6,363 | 6,024 |
Other real estate owned and repossessed assets | 5,825 | 5,082 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 6,363 | 6,024 |
Other real estate owned and repossessed assets | $ 5,825 | $ 5,082 |
Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | 0.00% | 0.00% |
Impaired loans, Liquidation expenses | (3.00%) | (1.20%) |
Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (40.60%) | (39.70%) |
Impaired loans, Liquidation expenses | (8.00%) | (8.00%) |
Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (25.10%) | (6.70%) |
Impaired loans, Liquidation expenses | (6.70%) | (6.70%) |
Fair Value Measurement - Estima
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financial Assets | ||||
Cash and due from banks | $ 86,685 | $ 94,002 | $ 95,551 | $ 125,605 |
Securities available-for-sale | 1,409,520 | 917,424 | ||
Securities held-to-maturity | 1,012,930 | 593,670 | ||
Net loans | 5,024,132 | 4,042,112 | ||
Loans held for sale | 7,899 | 5,865 | ||
Accrued interest receivable | 25,759 | 18,481 | ||
Bank-owned life insurance | 150,980 | 123,298 | ||
Financial Liabilities | ||||
Deposits | 6,066,299 | 5,048,983 | ||
Federal Home Loan Bank borrowings | 1,041,750 | 223,126 | ||
Other borrowings | 81,356 | 80,690 | ||
Junior subordinated debt | 106,196 | 106,176 | ||
Accrued interest payable | 1,715 | 1,620 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 86,685 | 94,002 | ||
Securities available-for-sale | 7,961 | 8,440 | ||
Accrued interest receivable | 25,759 | 18,481 | ||
Bank-owned life insurance | 150,980 | 123,298 | ||
Financial Liabilities | ||||
Deposits | 4,508,461 | 3,743,887 | ||
Other borrowings | 78,682 | 77,534 | ||
Accrued interest payable | 1,715 | 1,620 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Financial Assets | ||||
Securities available-for-sale | 1,401,559 | 908,984 | ||
Securities held-to-maturity | 1,037,490 | 618,895 | ||
Loans held for sale | 7,899 | 5,865 | ||
Financial Liabilities | ||||
Deposits | 1,566,972 | 1,312,941 | ||
Federal Home Loan Bank borrowings | 1,041,752 | 225,456 | ||
Other borrowings | 2,679 | 3,162 | ||
Junior subordinated debt | 79,681 | 79,212 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Financial Assets | ||||
Securities held-to-maturity | 717 | 722 | ||
Net loans | 4,936,236 | 4,047,648 | ||
Carrying Amount [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 86,685 | 94,002 | ||
Securities available-for-sale | 1,409,520 | 917,424 | ||
Securities held-to-maturity | 1,012,930 | 593,670 | ||
Net loans | 5,024,132 | 4,042,112 | ||
Loans held for sale | 7,899 | 5,865 | ||
Accrued interest receivable | 25,759 | 18,481 | ||
Bank-owned life insurance | 150,980 | 123,298 | ||
Financial Liabilities | ||||
Deposits | 6,066,299 | 5,048,983 | ||
Federal Home Loan Bank borrowings | 1,041,750 | 223,126 | ||
Other borrowings | 81,356 | 80,690 | ||
Junior subordinated debt | 106,196 | 106,176 | ||
Accrued interest payable | 1,715 | 1,620 | ||
Fair Value Estimate [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 86,685 | 94,002 | ||
Securities available-for-sale | 1,409,520 | 917,424 | ||
Securities held-to-maturity | 1,038,207 | 619,617 | ||
Net loans | 4,936,236 | 4,047,648 | ||
Loans held for sale | 7,899 | 5,865 | ||
Accrued interest receivable | 25,759 | 18,481 | ||
Bank-owned life insurance | 150,980 | 123,298 | ||
Financial Liabilities | ||||
Deposits | 6,075,433 | 5,056,828 | ||
Federal Home Loan Bank borrowings | 1,041,752 | 225,456 | ||
Other borrowings | 81,361 | 80,696 | ||
Junior subordinated debt | 79,681 | 79,212 | ||
Accrued interest payable | $ 1,715 | $ 1,620 |
Comprehensive Income_(Loss) - C
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | $ 788,190 | $ 746,595 | $ 714,184 |
Total other comprehensive loss | (2,129) | (6,091) | (6,369) |
Ending Balance | 1,122,132 | 788,190 | 746,595 |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (22,776) | (7,966) | (21,401) |
Other comprehensive (loss)/income before reclassifications | 3,233 | (15,768) | 11,224 |
Amounts reclassified from accumulated other comprehensive income/(loss) | 2,004 | 958 | 2,211 |
Total other comprehensive loss | 5,237 | (14,810) | 13,435 |
Ending Balance | (17,539) | (22,776) | (7,966) |
Accumulated Unrealized Gains (Losses) on Securities Available For Sale [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 2,892 | (6,126) | 13,032 |
Other comprehensive (loss)/income before reclassifications | (6,677) | 9,638 | (19,102) |
Amounts reclassified from accumulated other comprehensive income/(loss) | (377) | (620) | (56) |
Total other comprehensive loss | (7,054) | 9,018 | (19,158) |
Ending Balance | (4,162) | 2,892 | (6,126) |
Accumulated Unrealized Gains on Securities Transferred from Available For Sale to Held to Maturity [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 1,059 | 1,358 | 2,004 |
Amounts reclassified from accumulated other comprehensive income/(loss) | (312) | (299) | (646) |
Total other comprehensive loss | (312) | (299) | (646) |
Ending Balance | 747 | 1,059 | 1,358 |
Accumulated Other Comprehensive Loss [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (18,825) | (12,734) | (6,365) |
Other comprehensive (loss)/income before reclassifications | (3,444) | (6,130) | (7,878) |
Amounts reclassified from accumulated other comprehensive income/(loss) | 1,315 | 39 | 1,509 |
Total other comprehensive loss | (2,129) | (6,091) | (6,369) |
Ending Balance | $ (20,954) | $ (18,825) | $ (12,734) |
Comprehensive Income_(Loss) 119
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income/(Loss) (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | ||
Percentage of Federal and State income tax rate | 37.00% | 37.00% |
Comprehensive Income_(Loss) - S
Comprehensive Income/(Loss) - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net securities gains reclassified into earnings | $ 596 | $ 981 | $ 89 |
Related income tax expense | (219) | (361) | (33) |
Net effect on accumulated other comprehensive income/(loss) for the period | 7,054 | (9,018) | 19,158 |
Amortization of unrealized gain transferred from available-for-sale | 494 | 472 | 1,029 |
Related income tax expense | (182) | (173) | (383) |
Net effect on accumulated other comprehensive income/(loss) for the period | 312 | 299 | 646 |
Defined benefit pension plan: | |||
Amortization of net loss and prior service costs | (3,205) | (1,516) | (3,579) |
Related income tax benefit | 1,201 | 558 | 1,368 |
Net effect on accumulated other comprehensive income/(loss) for the period | (5,237) | 14,810 | (13,435) |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net securities gains reclassified into earnings | (596) | (981) | (89) |
Related income tax expense | 219 | 361 | 33 |
Net effect on accumulated other comprehensive income/(loss) for the period | (377) | (620) | (56) |
Amortization of unrealized gain transferred from available-for-sale | (494) | (472) | (1,029) |
Related income tax expense | 182 | 173 | 383 |
Net effect on accumulated other comprehensive income/(loss) for the period | (312) | (299) | (646) |
Defined benefit pension plan: | |||
Amortization of net loss and prior service costs | 3,205 | 1,516 | 3,579 |
Related income tax benefit | (1,201) | (558) | (1,368) |
Net effect on accumulated other comprehensive income/(loss) for the period | 2,004 | 958 | 2,211 |
Total reclassifications for the period | $ 1,315 | $ 39 | $ 1,509 |
Commitments and Contingent L121
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Allowance for credit losses associated with loan commitments | $ 613 | $ 455 | $ 602 | $ 341 |
Liability associated with letters of credit | $ 200 | $ 200 |
Commitments and Contingent L122
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lines of credit | $ 1,159,769 | $ 984,352 |
Loans approved but not closed | 234,599 | 116,757 |
Overdraft limits | 106,252 | 95,965 |
Letters of credit | 27,408 | 23,362 |
Contingent obligations to purchase loans funded by other entities | $ 18,079 | $ 8,312 |
Wesbanco Bank Community Deve123
Wesbanco Bank Community Development Corporation - Additional Information (Detail) - WBCDC [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |||
New Markets Tax Credits | $ 60,000,000 | ||
Lower limit of poverty rate tracts | 20.00% | ||
Percentage income of median family | 80.00% | ||
Percentage of credit provided to the investor | 39.00% | ||
Period of credit allowance | 7 years | ||
Percentage of total amount investor receives as credit | 5.00% | ||
Percentage of total amount investor receives as credit for the remaining four years | 6.00% | ||
Amount received as tax credit | $ 19,700,000 | ||
Investment limit for credit allowance | 60,000,000 | ||
Amount eligible to receive as tax credit | 3,700,000 | ||
Provision for income tax | 1,900,000 | $ 2,300,000 | $ 2,200,000 |
Tax credit carry forward | $ 5,000,000 | ||
Minimum percentage of QEI proceeds utilized | 85.00% |
Wesbanco Bank Community Deve124
Wesbanco Bank Community Development Corporation - Summary of New Market Tax Credit Carry Forward (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | $ 30,000 |
New Markets Tax Credit for year 2016 | 1,800 |
New Markets Tax Credit for year 2017 | 960 |
New Markets Tax Credit for year 2018 | 660 |
New Markets Tax Credit for year 2019 | 300 |
2004 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 14,000 |
New Markets Tax Credit for year 2016 | 840 |
2005 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 5,000 |
New Markets Tax Credit for year 2016 | 300 |
New Markets Tax Credit for year 2017 | 300 |
2008 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 6,000 |
New Markets Tax Credit for year 2016 | 360 |
New Markets Tax Credit for year 2017 | 360 |
New Markets Tax Credit for year 2018 | 360 |
2009 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 5,000 |
New Markets Tax Credit for year 2016 | 300 |
New Markets Tax Credit for year 2017 | 300 |
New Markets Tax Credit for year 2018 | 300 |
New Markets Tax Credit for year 2019 | $ 300 |
Wesbanco Bank Community Deve125
Wesbanco Bank Community Development Corporation - Summary of New Market Tax Credit Carry Forward (Parenthetical) (Detail) $ in Millions | Dec. 31, 2015USD ($) |
WBCDC [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Qualified equity investment amount for which tax credit expired | $ 30 |
Wesbanco Bank Community Deve126
Wesbanco Bank Community Development Corporation - Schedule of Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ||||
Cash and due from banks | $ 86,685 | $ 94,002 | $ 95,551 | $ 125,605 |
Loans, net of allowance for loan losses of $217 | 5,024,132 | 4,042,112 | ||
Other assets | 149,302 | 89,072 | ||
Total Assets | 8,470,298 | 6,296,565 | ||
Liabilities | 7,348,166 | 5,508,375 | ||
Shareholder Equity | 1,122,132 | 788,190 | $ 746,595 | $ 714,184 |
Total Liabilities and Shareholder Equity | 8,470,298 | 6,296,565 | ||
WBCDC [Member] | ||||
ASSETS | ||||
Cash and due from banks | 26,317 | $ 24,270 | ||
Loans, net of allowance for loan losses of $217 | 42,958 | |||
Investments | 1,062 | |||
Other assets | 1,043 | |||
Total Assets | 71,380 | |||
Liabilities | 250 | |||
Shareholder Equity | 71,130 | |||
Total Liabilities and Shareholder Equity | $ 71,380 |
Wesbanco Bank Community Deve127
Wesbanco Bank Community Development Corporation - Schedule of Condensed Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule Of Subsidiary Financial Statements Table [Line Items] | ||||
Allowance for loan losses | $ 41,710 | $ 44,654 | $ 47,368 | $ 52,699 |
WBCDC [Member] | ||||
Schedule Of Subsidiary Financial Statements Table [Line Items] | ||||
Allowance for loan losses | $ 217 |
Wesbanco Bank Community Deve128
Wesbanco Bank Community Development Corporation - Schedule of Condensed Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest income | |||||||||||
Loans | $ 203,993 | $ 172,182 | $ 175,323 | ||||||||
Total interest income | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 54,185 | $ 54,303 | $ 54,044 | $ 53,457 | 261,712 | 215,991 | 217,890 |
Net interest income after provision for credit losses | 58,035 | 58,811 | 58,112 | 53,666 | 47,106 | 47,133 | 47,458 | 45,126 | 228,634 | 186,823 | 176,401 |
Non-interest income | 74,466 | 68,504 | 69,285 | ||||||||
Non-interest expense | 46,894 | 46,981 | 46,589 | 53,441 | 41,972 | 39,263 | 40,304 | 40,095 | 193,923 | 161,633 | 160,998 |
Income before provision for income taxes | 31,167 | 30,016 | 29,595 | 18,415 | 21,694 | 24,524 | 25,395 | 22,080 | 109,177 | 93,694 | 84,688 |
Provision for income taxes | 8,165 | 7,768 | 7,962 | 4,528 | 5,182 | 6,358 | 6,520 | 5,659 | 28,415 | 23,720 | 20,763 |
Net income | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | 80,762 | $ 69,974 | $ 63,925 |
WBCDC [Member] | |||||||||||
Interest income | |||||||||||
Loans | 1,434 | ||||||||||
Total interest income | 1,434 | ||||||||||
Recovery of loan losses | (32) | ||||||||||
Net interest income after provision for credit losses | 1,466 | ||||||||||
Non-interest income | 82 | ||||||||||
Non-interest expense | 6 | ||||||||||
Income before provision for income taxes | 1,542 | ||||||||||
Provision for income taxes | 574 | ||||||||||
Net income | $ 968 |
Wesbanco Bank Community Deve129
Wesbanco Bank Community Development Corporation - Schedule of Condensed Cash Flow Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | $ 80,762 | $ 69,974 | $ 63,925 |
Gain on investments | (880) | $ (47) | (22) | (147) | $ (581) | $ (165) | (10) | (948) | (903) | (684) | |
(Increase) decrease in other assets | (4,293) | 10,205 | 26,371 | ||||||||
Net change in other liabilities | (7,988) | (1,896) | (4,195) | ||||||||
Net cash provided by operating activities | 88,649 | 94,808 | 111,480 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Decrease in loans | (293,306) | (199,760) | (220,562) | ||||||||
Net cash provided by investing activities | (210,591) | (173,006) | (164,499) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Net cash provided by financing activities | 114,625 | 76,649 | 22,965 | ||||||||
Net increase in cash and cash equivalents | (7,317) | (1,549) | (30,054) | ||||||||
Cash and cash equivalents at beginning of the year | 94,002 | $ 95,551 | 94,002 | 95,551 | 125,605 | ||||||
Cash and cash equivalents at end of the year | 86,685 | 94,002 | 86,685 | 94,002 | $ 95,551 | ||||||
WBCDC [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 968 | ||||||||||
Recovery of loan losses | (32) | ||||||||||
Gain on investments | (82) | ||||||||||
(Increase) decrease in other assets | (513) | ||||||||||
Net change in other liabilities | (44) | ||||||||||
Net cash provided by operating activities | 297 | ||||||||||
INVESTING ACTIVITIES | |||||||||||
Decrease in loans | 1,750 | ||||||||||
Net cash provided by investing activities | 1,750 | ||||||||||
FINANCING ACTIVITIES | |||||||||||
Qualified equity investment by parent company | 0 | ||||||||||
Net cash provided by financing activities | 0 | ||||||||||
Net increase in cash and cash equivalents | 2,047 | ||||||||||
Cash and cash equivalents at beginning of the year | $ 24,270 | 24,270 | |||||||||
Cash and cash equivalents at end of the year | $ 26,317 | $ 24,270 | $ 26,317 | $ 24,270 |
Transactions with Related Pa130
Transactions with Related Parties - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Related Party Transactions [Abstract] | |||
Aggregate indebtedness of related parties | $ 9,600,000 | $ 4,400,000 | $ 4,700,000 |
Related party loans funded | 8,800,000 | ||
Related party loans repaid | $ 3,600,000 | ||
Due date for related party loans | 90 days | ||
Delinquent related party loans outstanding | $ 0 | $ 0 | $ 0 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Potential maximum dividends without prior regulatory approval | $ 51,300 | |
Average required reserve balance in Federal Reserve Bank | $ 5,000 | $ 5,000 |
Percentage of Risk-weighted assets in bank holding companies in total capital | 8.00% | |
Common equity tier 1, minimum value | 4.50% | |
Common equity tier 1, well capitalized | 6.50% | |
Percentage of Risk-weighted assets in banking subsidiaries | 6.00% | |
Percentage of well-capitalized levels of Tier 1 risk-based capital | 8.00% | |
Percentage of well-capitalized levels of total risk-based capital | 10.00% | |
Percentage of well-capitalized levels of Tier 1 leverage capital | 5.00% | |
Junior subordinated debt | $ 106,196 | $ 106,176 |
Provision of the Dodd-Frank | 15,000,000 | |
Trust Preferred Securities | $ 103,000 | |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Minimum Tier 1 leverage ratio | 4.00% | |
WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Percentage of Risk-weighted assets in bank holding companies in total capital | 8.00% | |
Common equity tier 1, minimum value | 4.50% | |
Common equity tier 1, well capitalized | 6.50% | |
Percentage of Risk-weighted assets in banking subsidiaries | 6.00% | |
Percentage of well-capitalized levels of Tier 1 risk-based capital | 8.00% | |
Percentage of well-capitalized levels of total risk-based capital | 10.00% | |
Percentage of well-capitalized levels of Tier 1 leverage capital | 5.00% | |
Junior Subordinated Debt [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Junior subordinated debt | $ 106,200 |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Risk-Based Capital Amounts and Ratios (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Percentage of risk-weighted assets in bank holding companies in Tier 1 | 4.00% | |
Common equity tier 1, minimum value | 4.50% | |
Tier 1 capital to risk-weighted assets, minimum value | 6.00% | |
Total capital to risk-weighted assets, minimum value | 8.00% | |
Tier 1 leverage, well capitalized | 5.00% | |
Common equity tier 1, well capitalized | 6.50% | |
Tier 1 capital to risk-weighted assets, well capitalized | 8.00% | |
Total capital to risk-weighted assets, well capitalized | 10.00% | |
Tier 1 leverage, amount | $ 751,748,000 | $ 593,031,000 |
Common equity tier 1, amount | 656,911,000 | |
Tier 1 capital to risk-weighted assets, amount | 751,748,000 | 593,031,000 |
Total capital to risk-weighted assets, amount | $ 794,643,000 | $ 638,064,000 |
Tier 1 leverage, ratio | 9.38% | 9.88% |
Common equity tier 1, ratio | 11.66% | |
Tier 1 capital to risk-weighted assets, ratio | 13.35% | 13.76% |
Total capital to risk-weighted assets, ratio | 14.11% | 14.81% |
WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Percentage of risk-weighted assets in bank holding companies in Tier 1 | 4.00% | |
Common equity tier 1, minimum value | 4.50% | |
Tier 1 capital to risk-weighted assets, minimum value | 6.00% | |
Total capital to risk-weighted assets, minimum value | 8.00% | |
Tier 1 leverage, well capitalized | 5.00% | |
Common equity tier 1, well capitalized | 6.50% | |
Tier 1 capital to risk-weighted assets, well capitalized | 8.00% | |
Total capital to risk-weighted assets, well capitalized | 10.00% | |
Tier 1 leverage, amount | $ 701,384,000 | $ 516,689,000 |
Common equity tier 1, amount | 701,384,000 | |
Tier 1 capital to risk-weighted assets, amount | 701,384,000 | 516,689,000 |
Total capital to risk-weighted assets, amount | $ 743,923,000 | $ 561,369,000 |
Tier 1 leverage, ratio | 8.77% | 8.63% |
Common equity tier 1, ratio | 12.49% | |
Tier 1 capital to risk-weighted assets, ratio | 12.49% | 12.04% |
Total capital to risk-weighted assets, ratio | 13.24% | 13.08% |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage, amount | $ 320,575,000 | $ 240,068,000 |
Common equity tier 1, amount | 253,418,000 | |
Tier 1 capital to risk-weighted assets, amount | 337,891,000 | 172,357,000 |
Total capital to risk-weighted assets, amount | 450,521,000 | 344,714,000 |
Minimum [Member] | WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage, amount | 320,020,000 | 239,533,000 |
Common equity tier 1, amount | 252,793,000 | |
Tier 1 capital to risk-weighted assets, amount | 337,057,000 | 171,612,000 |
Total capital to risk-weighted assets, amount | $ 449,409,000 | $ 343,225,000 |
Regulatory Matters - Summary133
Regulatory Matters - Summary of Risk-Based Capital Amounts and Ratios (Parenthetical) (Detail) | Dec. 31, 2015 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Percentage of risk-weighted assets in bank holding companies in Tier 1 | 4.00% |
Total capital to risk-weighted assets, minimum value | 8.00% |
WesBanco Bank Inc [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Percentage of risk-weighted assets in bank holding companies in Tier 1 | 4.00% |
Total capital to risk-weighted assets, minimum value | 8.00% |
Condensed Parent Company Fin134
Condensed Parent Company Financial Statements - Schedule of Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ||||
Cash and short-term investments | $ 86,685 | $ 94,002 | $ 95,551 | $ 125,605 |
Securities available-for-sale, at fair value | 1,409,520 | 917,424 | ||
Other assets | 149,302 | 89,072 | ||
Total Assets | 8,470,298 | 6,296,565 | ||
LIABILITIES | ||||
Junior subordinated debt owed to unconsolidated subsidiary trusts | 106,196 | 106,176 | ||
Total Liabilities | 7,348,166 | 5,508,375 | ||
SHAREHOLDERS' EQUITY | 1,122,132 | 788,190 | 746,595 | 714,184 |
Total Liabilities and Shareholders' Equity | 8,470,298 | 6,296,565 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and short-term investments | 33,172 | 61,732 | $ 22,973 | $ 16,213 |
Investment in subsidiaries-Bank | 1,175,005 | 814,227 | ||
Investment in subsidiaries-Nonbank | 5,604 | 5,343 | ||
Securities available-for-sale, at fair value | 1,891 | 2,189 | ||
Other assets | 21,817 | 17,553 | ||
Total Assets | 1,237,489 | 901,044 | ||
LIABILITIES | ||||
Junior subordinated debt owed to unconsolidated subsidiary trusts | 106,196 | 106,176 | ||
Dividends payable and other liabilities | 9,161 | 6,678 | ||
Total Liabilities | 115,357 | 112,854 | ||
SHAREHOLDERS' EQUITY | 1,122,132 | 788,190 | ||
Total Liabilities and Shareholders' Equity | $ 1,237,489 | $ 901,044 |
Condensed Parent Company Fin135
Condensed Parent Company Financial Statements - Schedule of Condensed Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Income from securities | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 54,185 | $ 54,303 | $ 54,044 | $ 53,457 | $ 261,712 | $ 215,991 | $ 217,890 |
Net securities gain | 948 | 903 | 684 | ||||||||
Other income | 5,532 | 5,555 | 5,456 | ||||||||
Total expense | 46,894 | 46,981 | 46,589 | 53,441 | 41,972 | 39,263 | 40,304 | 40,095 | 193,923 | 161,633 | 160,998 |
Income tax benefit | 8,165 | 7,768 | 7,962 | 4,528 | 5,182 | 6,358 | 6,520 | 5,659 | 28,415 | 23,720 | 20,763 |
Equity in undistributed net income of subsidiaries | 600 | 900 | 1,200 | ||||||||
NET INCOME | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | 80,762 | 69,974 | 63,925 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividends from subsidiaries-Bank | 60,000 | 59,500 | 42,000 | ||||||||
Dividends from subsidiaries-Nonbank | 500 | 1,200 | 860 | ||||||||
Income from securities | 75 | 128 | 194 | ||||||||
Net securities gain | 745 | 6 | |||||||||
Other income | 104 | 416 | 67 | ||||||||
Total income | 60,679 | 61,989 | 43,127 | ||||||||
Total expense | 8,862 | 7,139 | 5,810 | ||||||||
Income before income tax benefit and undistributed net income of subsidiaries | 51,817 | 54,850 | 37,317 | ||||||||
Income tax benefit | (2,971) | (2,006) | (2,132) | ||||||||
Income before undistributed net income of subsidiaries | 54,788 | 56,856 | 39,449 | ||||||||
Equity in undistributed net income of subsidiaries | 25,974 | 13,118 | 24,476 | ||||||||
NET INCOME | $ 80,762 | $ 69,974 | $ 63,925 |
Condensed Parent Company Fin136
Condensed Parent Company Financial Statements - Schedule of Condensed Cash Flow Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | $ 80,762 | $ 69,974 | $ 63,925 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income | (600) | (900) | (1,200) | ||||||||
Gain on securities | (948) | (903) | (684) | ||||||||
(Increase) decrease in other assets | (4,293) | 10,205 | 26,371 | ||||||||
Other-net | 1,914 | 5,328 | 2,251 | ||||||||
Net cash provided by operating activities | 88,649 | 94,808 | 111,480 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Proceed from sales -securities available-for-sale | 635,609 | 16,249 | 9,265 | ||||||||
Acquisitions and additional capitalization of subsidiaries, net of cash acquired | (28,551) | ||||||||||
Net cash (used in) provided by investing activities | (210,591) | (173,006) | (164,499) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of junior subordinated debt | (36,083) | (7,732) | |||||||||
Issuance of common stock | 2,539 | ||||||||||
Repurchase of common stock warrant | (2,247) | ||||||||||
Treasury shares (purchased) sold-net | (2,542) | 1,918 | (6,170) | ||||||||
Net cash provided by financing activities | 114,625 | 76,649 | 22,965 | ||||||||
Net (decrease) increase in cash and cash equivalents | (7,317) | (1,549) | (30,054) | ||||||||
Cash and cash equivalents at beginning of the year | 94,002 | 95,551 | 94,002 | 95,551 | 125,605 | ||||||
Cash and cash equivalents at end of the year | 86,685 | 94,002 | 86,685 | 94,002 | 95,551 | ||||||
Parent Company [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 80,762 | 69,974 | 63,925 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income | (25,974) | (13,118) | (24,476) | ||||||||
Gain on securities | (745) | (6) | |||||||||
(Increase) decrease in other assets | 199 | 1,908 | (1,957) | ||||||||
Other-net | 1,657 | 1,968 | 1,975 | ||||||||
Net cash provided by operating activities | 56,644 | 59,987 | 39,461 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Proceed from sales -securities available-for-sale | 210 | 1,990 | 1,009 | ||||||||
Acquisitions and additional capitalization of subsidiaries, net of cash acquired | 1,465 | (104) | |||||||||
Net cash (used in) provided by investing activities | 1,675 | 1,990 | 905 | ||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of junior subordinated debt | (36,083) | (7,732) | |||||||||
Repayment of other borrowings | (13,000) | ||||||||||
Issuance of common stock | 2,539 | ||||||||||
Repurchase of common stock warrant | (2,247) | ||||||||||
Treasury shares (purchased) sold-net | (2,542) | 1,918 | (6,170) | ||||||||
Dividends paid to common and preferred shareholders | (33,007) | (25,136) | (22,243) | ||||||||
Net cash provided by financing activities | (86,879) | (23,218) | (33,606) | ||||||||
Net (decrease) increase in cash and cash equivalents | (28,560) | 38,759 | 6,760 | ||||||||
Cash and cash equivalents at beginning of the year | $ 61,732 | $ 22,973 | 61,732 | 22,973 | 16,213 | ||||||
Cash and cash equivalents at end of the year | $ 33,172 | $ 61,732 | $ 33,172 | $ 61,732 | $ 22,973 |
Business Segments - Additional
Business Segments - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)Segment | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Segment Reporting Information [Line Items] | |||
Operating segments | Segment | 2 | ||
Trust and Investment Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Market value of assets held by trust and investment services segment | $ 3,600 | $ 3,800 | $ 3,700 |
Total non-fiduciary assets of the trust and investment services segment | $ 3.3 | $ 4 | $ 3.9 |
Business Segments - Financial I
Business Segments - Financial Information by Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Interest and dividend income | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 54,185 | $ 54,303 | $ 54,044 | $ 53,457 | $ 261,712 | $ 215,991 | $ 217,890 |
Interest expense | 7,040 | 6,326 | 5,936 | 5,424 | 5,199 | 5,692 | 5,737 | 6,132 | 24,725 | 22,763 | 32,403 |
Net interest income | 60,620 | 60,609 | 60,793 | 54,955 | 48,986 | 48,611 | 48,307 | 47,325 | 236,987 | 193,228 | 185,487 |
Provision for credit losses | 2,585 | 1,798 | 2,681 | 1,289 | 1,880 | 1,478 | 849 | 2,199 | 8,353 | 6,405 | 9,086 |
Net interest income after provision for credit losses | 58,035 | 58,811 | 58,112 | 53,666 | 47,106 | 47,133 | 47,458 | 45,126 | 228,634 | 186,823 | 176,401 |
Non-interest income | 74,466 | 68,504 | 69,285 | ||||||||
Non-interest expense | 46,894 | 46,981 | 46,589 | 53,441 | 41,972 | 39,263 | 40,304 | 40,095 | 193,923 | 161,633 | 160,998 |
Income before provision for income taxes | 31,167 | 30,016 | 29,595 | 18,415 | 21,694 | 24,524 | 25,395 | 22,080 | 109,177 | 93,694 | 84,688 |
Provision for income taxes | 8,165 | 7,768 | 7,962 | 4,528 | 5,182 | 6,358 | 6,520 | 5,659 | 28,415 | 23,720 | 20,763 |
Net income | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | 80,762 | 69,974 | 63,925 |
Community Banking [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest and dividend income | 261,712 | 215,991 | 217,890 | ||||||||
Interest expense | 24,725 | 22,763 | 32,403 | ||||||||
Net interest income | 236,987 | 193,228 | 185,487 | ||||||||
Provision for credit losses | 8,353 | 6,405 | 9,086 | ||||||||
Net interest income after provision for credit losses | 228,634 | 186,823 | 176,401 | ||||||||
Non-interest income | 52,566 | 47,435 | 49,708 | ||||||||
Non-interest expense | 181,821 | 149,429 | 149,136 | ||||||||
Income before provision for income taxes | 99,379 | 84,829 | 76,973 | ||||||||
Provision for income taxes | 24,496 | 20,174 | 17,677 | ||||||||
Net income | 74,883 | 64,655 | 59,296 | ||||||||
Trust and Investment Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Non-interest income | 21,900 | 21,069 | 19,577 | ||||||||
Non-interest expense | 12,102 | 12,204 | 11,862 | ||||||||
Income before provision for income taxes | 9,798 | 8,865 | 7,715 | ||||||||
Provision for income taxes | 3,919 | 3,546 | 3,086 | ||||||||
Net income | $ 5,879 | $ 5,319 | $ 4,629 |
Condensed Quarterly Statemen139
Condensed Quarterly Statements of Income (Unaudited) - Consolidated Selected Quarterly Statements of Income (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | |||||||||||
Interest and dividend income | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 54,185 | $ 54,303 | $ 54,044 | $ 53,457 | $ 261,712 | $ 215,991 | $ 217,890 |
Interest expense | 7,040 | 6,326 | 5,936 | 5,424 | 5,199 | 5,692 | 5,737 | 6,132 | 24,725 | 22,763 | 32,403 |
Net interest income | 60,620 | 60,609 | 60,793 | 54,955 | 48,986 | 48,611 | 48,307 | 47,325 | 236,987 | 193,228 | 185,487 |
Provision for credit losses | 2,585 | 1,798 | 2,681 | 1,289 | 1,880 | 1,478 | 849 | 2,199 | 8,353 | 6,405 | 9,086 |
Net interest income after provision for credit losses | 58,035 | 58,811 | 58,112 | 53,666 | 47,106 | 47,133 | 47,458 | 45,126 | 228,634 | 186,823 | 176,401 |
Non-interest income | 19,146 | 18,139 | 18,072 | 18,168 | 16,413 | 16,073 | 18,076 | 17,039 | 73,518 | 67,601 | |
Net securities gains | 880 | 47 | 22 | 147 | 581 | 165 | 10 | 948 | 903 | 684 | |
Non-interest expense | 46,894 | 46,981 | 46,589 | 53,441 | 41,972 | 39,263 | 40,304 | 40,095 | 193,923 | 161,633 | 160,998 |
Income before provision for income taxes | 31,167 | 30,016 | 29,595 | 18,415 | 21,694 | 24,524 | 25,395 | 22,080 | 109,177 | 93,694 | 84,688 |
Provision for income taxes | 8,165 | 7,768 | 7,962 | 4,528 | 5,182 | 6,358 | 6,520 | 5,659 | 28,415 | 23,720 | 20,763 |
Net income | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 16,512 | $ 18,166 | $ 18,875 | $ 16,421 | $ 80,762 | $ 69,974 | $ 63,925 |
Earnings per common share-basic | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 0.56 | $ 0.62 | $ 0.65 | $ 0.56 | $ 2.15 | $ 2.39 | $ 2.18 |
Earnings per common share-diluted | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 0.56 | $ 0.62 | $ 0.64 | $ 0.56 | $ 2.15 | $ 2.39 | $ 2.18 |