Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 22, 2019 | Jun. 30, 2018 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
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 Shell Company | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Common Stock, Shares Outstanding | 54,598,634 | ||
Entity Public Float | $ 1,977,764,728 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks, including interest bearing amounts of $44,536 and $19,826, respectively | $ 169,186 | $ 117,572 |
Securities: | ||
Equity securities, at fair value | 11,737 | 13,457 |
Available-for-sale, at fair value | 2,114,129 | 1,261,865 |
Held-to-maturity (fair values of $1,020,743 and $1,023,784, respectively) | 1,020,934 | 1,009,500 |
Total securities | 3,146,800 | 2,284,822 |
Loans held for sale | 8,994 | 20,320 |
Portfolio loans, net of unearned income | 7,656,281 | 6,341,441 |
Allowance for loan losses | (48,948) | (45,284) |
Net portfolio loans | 7,607,333 | 6,296,157 |
Premises and equipment, net | 166,925 | 130,722 |
Accrued interest receivable | 38,853 | 29,728 |
Goodwill and other intangible assets, net | 918,850 | 589,264 |
Bank-owned life insurance | 225,317 | 192,589 |
Other assets | 176,374 | 155,004 |
Total Assets | 12,458,632 | 9,816,178 |
Deposits: | ||
Non-interest bearing demand | 2,441,041 | 1,846,748 |
Interest bearing demand | 2,146,508 | 1,625,015 |
Money market | 1,142,925 | 1,024,856 |
Savings deposits | 1,645,549 | 1,269,912 |
Certificates of deposit | 1,455,610 | 1,277,057 |
Total deposits | 8,831,633 | 7,043,588 |
Federal Home Loan Bank borrowings | 1,054,174 | 948,203 |
Other short-term borrowings | 290,522 | 184,805 |
Subordinated debt and junior subordinated debt | 189,842 | 164,327 |
Total borrowings | 1,534,538 | 1,297,335 |
Accrued interest payable | 4,627 | 3,178 |
Other liabilities | 109,007 | 76,756 |
Total Liabilities | 10,479,805 | 8,420,857 |
SHAREHOLDERS' EQUITY | ||
Preferred stock, no par value; 1,000,000 shares authorized; none outstanding | ||
Common stock, $2.0833 par value; 100,000,000 shares authorized; 54,604,294 and 44,043,244 shares issued in 2018 and 2017, respectively; 54,598,134 and 43,931,715 shares outstanding in 2018 and 2017, respectively | 113,758 | 91,756 |
Capital surplus | 1,166,701 | 684,730 |
Retained earnings | 737,581 | 651,357 |
Treasury stock (6,160 and 0 shares in 2018 and 2017, respectively, at cost) | (274) | |
Accumulated other comprehensive loss | (37,871) | (31,495) |
Deferred benefits for directors | (1,068) | (1,027) |
Total Shareholders' Equity | 1,978,827 | 1,395,321 |
Total Liabilities and Shareholders' Equity | $ 12,458,632 | $ 9,816,178 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Interest bearing deposits, banks | $ 44,536 | $ 19,826 |
Held-to-maturity securities, fair values | $ 1,020,743 | $ 1,023,784 |
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 | 100,000,000 |
Common stock, shares issued | 54,604,294 | 44,043,244 |
Common stock, shares outstanding | 54,598,134 | 43,931,715 |
Treasury stock, shares | 6,160 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
INTEREST AND DIVIDEND INCOME | |||
Loans, including fees | $ 331,961 | $ 272,007 | $ 226,993 |
Interest and dividends on securities: | |||
Taxable | 56,898 | 38,631 | 38,490 |
Tax-exempt | 20,778 | 19,489 | 18,390 |
Total interest and dividends on securities | 77,676 | 58,120 | 56,880 |
Other interest income | 5,320 | 2,297 | 2,224 |
Total interest and dividend income | 414,957 | 332,424 | 286,097 |
INTEREST EXPENSE | |||
Interest bearing demand deposits | 13,144 | 6,452 | 2,817 |
Money market deposits | 5,016 | 2,775 | 1,860 |
Savings deposits | 1,225 | 745 | 696 |
Certificates of deposit | 12,450 | 10,108 | 10,419 |
Total interest expense on deposits | 31,835 | 20,080 | 15,792 |
Federal Home Loan Bank borrowings | 23,333 | 13,290 | 11,985 |
Other short-term borrowings | 3,717 | 1,442 | 478 |
Subordinated debt and junior subordinated debt | 8,836 | 7,317 | 4,512 |
Total interest expense | 67,721 | 42,129 | 32,767 |
NET INTEREST INCOME | 347,236 | 290,295 | 253,330 |
Provision for credit losses | 7,764 | 9,986 | 8,478 |
Net interest income after provision for credit losses | 339,472 | 280,309 | 244,852 |
NON-INTEREST INCOME | |||
Electronic banking fees | 23,300 | 19,183 | 15,596 |
Net securities brokerage revenue | 7,186 | 6,672 | 6,449 |
Bank-owned life insurance | 6,427 | 4,794 | 4,064 |
Mortgage banking income | 5,840 | 5,053 | 2,529 |
Net securities (losses) gains | (900) | 567 | 2,357 |
Net gain on other real estate owned and other assets | 524 | 658 | 790 |
Other income | 9,606 | 8,641 | 9,751 |
Total non-interest income | 100,276 | 88,840 | 81,499 |
NON-INTEREST EXPENSE | |||
Salaries and wages | 114,602 | 97,361 | 84,281 |
Employee benefits | 30,079 | 29,933 | 27,952 |
Net occupancy | 19,165 | 17,101 | 14,664 |
Equipment | 17,207 | 16,026 | 14,543 |
Marketing | 5,368 | 5,720 | 5,391 |
FDIC insurance | 3,242 | 3,504 | 3,990 |
Amortization of intangible assets | 6,980 | 4,940 | 3,598 |
Restructuring and merger-related expense | 17,860 | 945 | 13,261 |
Other operating expenses | 50,721 | 45,330 | 41,000 |
Total non-interest expense | 265,224 | 220,860 | 208,680 |
Income before provision for income taxes | 174,524 | 148,289 | 117,671 |
Provision for income taxes | 31,412 | 53,807 | 31,036 |
NET INCOME | $ 143,112 | $ 94,482 | $ 86,635 |
EARNINGS PER COMMON SHARE | |||
Basic | $ 2.93 | $ 2.15 | $ 2.16 |
Diluted | $ 2.92 | $ 2.14 | $ 2.16 |
AVERAGE COMMON SHARES OUTSTANDING | |||
Basic | 48,889,041 | 44,003,208 | 40,100,320 |
Diluted | 49,022,990 | 44,075,293 | 40,127,076 |
DIVIDENDS DECLARED PER COMMON SHARE | $ 1.16 | $ 1.04 | $ 0.96 |
Total Trust Fees [Member] | |||
NON-INTEREST INCOME | |||
NON-INTEREST INCOME | $ 24,623 | $ 22,740 | $ 21,630 |
Service Charges on Deposits [Member] | |||
NON-INTEREST INCOME | |||
NON-INTEREST INCOME | $ 23,670 | $ 20,532 | $ 18,333 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 143,112 | $ 94,482 | $ 86,635 |
Securities available-for-sale: | |||
Net change in unrealized (losses) on securities available-for-sale | (9,228) | (1,702) | (6,761) |
Related income tax benefit | 2,008 | 717 | 2,461 |
Net securities losses (gains) reclassified into earnings | 15 | (42) | (2,251) |
Related income tax (benefit) expense | (4) | 15 | 823 |
Net effect on other comprehensive income for the period | (7,209) | (1,012) | (5,728) |
Securities held-to-maturity: | |||
Amortization of unrealized gain transferred from available-for-sale | (244) | (326) | (357) |
Related income tax expense | 56 | 117 | 132 |
Net effect on other comprehensive income for the period | (188) | (209) | (225) |
Defined benefit plans: | |||
Amortization of net loss and prior service costs | 2,948 | 3,247 | 3,046 |
Related income tax benefit | (822) | (1,053) | (1,153) |
Recognition of unrealized (loss) gain | (54) | 380 | (3,329) |
Related income tax benefit (expense) | 12 | (141) | 1,217 |
Net effect on other comprehensive income for the period | 2,084 | 2,433 | (219) |
Total other comprehensive (loss) gain | (5,313) | 1,212 | (6,172) |
Comprehensive income | $ 137,799 | $ 95,694 | $ 80,463 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | First Sentry Bancshares, Inc. [Member] | Farmers Capital Bank Corporation [Member] | Common Stock [Member] | Common Stock [Member]First Sentry Bancshares, Inc. [Member] | Common Stock [Member]Farmers Capital Bank Corporation [Member] | Capital Surplus [Member] | Capital Surplus [Member]First Sentry Bancshares, Inc. [Member] | Capital Surplus [Member]Farmers Capital Bank Corporation [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Treasury Stock [Member]Farmers Capital Bank Corporation [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | Deferred Benefits for Directors [Member] |
Beginning Balance at Dec. 31, 2015 | $ 1,122,132 | $ 80,304 | $ 516,294 | $ 549,921 | $ (2,640) | $ (20,954) | $ (793) | |||||||
Beginning Balance, shares at Dec. 31, 2015 | 38,459,635 | |||||||||||||
Net income | 86,635 | 86,635 | ||||||||||||
Other comprehensive income (loss) | (6,172) | (6,172) | ||||||||||||
Comprehensive income | 80,463 | |||||||||||||
Common dividends declared | (39,485) | (39,485) | ||||||||||||
Shares issued for acquisition | 177,149 | $ 11,071 | 162,934 | 3,144 | ||||||||||
Shares issued for acquisition, shares | 5,423,348 | |||||||||||||
Stock options exercised | 2,920 | $ 139 | 1,707 | 1,074 | ||||||||||
Stock options exercised, shares | 101,190 | |||||||||||||
Restricted stock granted | $ 10 | (2,281) | 2,271 | |||||||||||
Restricted stock granted, shares | 81,220 | |||||||||||||
Treasury shares acquired | (3,793) | 56 | (3,849) | |||||||||||
Treasury shares acquired, shares | (133,678) | |||||||||||||
Stock compensation expense | 2,022 | 2,022 | ||||||||||||
Deferred benefits for directors-net | (225) | 225 | ||||||||||||
Ending Balance at Dec. 31, 2016 | 1,341,408 | $ 91,524 | 680,507 | 597,071 | (27,126) | (568) | ||||||||
Ending Balance, shares at Dec. 31, 2016 | 43,931,715 | |||||||||||||
Net income | 94,482 | 94,482 | ||||||||||||
Other comprehensive income (loss) | 1,212 | 1,212 | ||||||||||||
Comprehensive income | 95,694 | |||||||||||||
Common dividends declared | (45,777) | (45,777) | ||||||||||||
Adoption of accounting standard | 5,581 | (5,581) | ||||||||||||
Stock options exercised | 1,529 | $ 78 | 794 | 657 | ||||||||||
Stock options exercised, shares | 54,584 | |||||||||||||
Restricted stock granted | $ 154 | (154) | ||||||||||||
Restricted stock granted, shares | 74,023 | |||||||||||||
Treasury shares acquired | (489) | 168 | (657) | |||||||||||
Treasury shares acquired, shares | (17,078) | |||||||||||||
Stock compensation expense | 2,956 | 2,956 | ||||||||||||
Deferred benefits for directors-net | 459 | (459) | ||||||||||||
Ending Balance at Dec. 31, 2017 | 1,395,321 | $ 91,756 | 684,730 | 651,357 | (31,495) | (1,027) | ||||||||
Ending Balance, shares at Dec. 31, 2017 | 44,043,244 | |||||||||||||
Net income | 143,112 | 143,112 | ||||||||||||
Other comprehensive income (loss) | (5,313) | (5,313) | ||||||||||||
Comprehensive income | 137,799 | |||||||||||||
Common dividends declared | (57,951) | (57,951) | ||||||||||||
Shares issued for acquisition | $ 107,347 | $ 391,267 | $ 5,206 | $ 16,487 | $ 102,141 | $ 374,464 | $ 316 | |||||||
Adoption of accounting standard | 1,063 | (1,063) | ||||||||||||
Shares issued for acquisition, shares | 2,498,761 | 7,920,387 | ||||||||||||
Stock options exercised | $ 1,849 | $ 104 | 1,346 | 399 | ||||||||||
Stock options exercised, shares | 58,763 | 58,763 | ||||||||||||
Restricted stock granted | $ 205 | (205) | ||||||||||||
Restricted stock granted, shares | 98,301 | |||||||||||||
Treasury shares acquired | $ (697) | 292 | (989) | |||||||||||
Treasury shares acquired, shares | (21,322) | |||||||||||||
Stock compensation expense | 4,361 | 4,361 | ||||||||||||
Deferred benefits for directors-net | (469) | (428) | (41) | |||||||||||
Ending Balance at Dec. 31, 2018 | $ 1,978,827 | $ 113,758 | $ 1,166,701 | $ 737,581 | $ (274) | $ (37,871) | $ (1,068) | |||||||
Ending Balance, shares at Dec. 31, 2018 | 54,598,134 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Stockholders' Equity [Abstract] | |||
Common dividends declared, per share | $ 1.16 | $ 1.04 | $ 0.96 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES | |||
Net income | $ 143,112 | $ 94,482 | $ 86,635 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization of premises and equipment | 10,451 | 10,441 | 9,242 |
Other net amortization | 3,932 | 8,871 | 8,768 |
Provision for credit losses | 7,764 | 9,986 | 8,478 |
Net securities losses | 900 | (567) | (2,357) |
Net gains on sales of mortgage loans | (5,840) | (5,053) | (2,529) |
Stock compensation expense | 4,361 | 2,956 | 2,022 |
Decrease in deferred income tax assets, net | 7,163 | 27,112 | 10,824 |
Increase in cash surrender value of bank-owned life insurance | (6,427) | (4,794) | (4,064) |
Contribution to pension plan | (2,700) | (5,000) | (5,750) |
Loans originated for sale | (215,540) | (216,744) | (167,370) |
Proceeds from the sale of loans originated for sale | 227,100 | 213,610 | 159,831 |
Net change in equity securities | (700) | (773) | (620) |
Net change in: accrued interest receivable and other assets | 19,895 | 4,593 | 13,137 |
Net change in: accrued interest payable and other liabilities | (1,681) | 2,944 | 7,404 |
Other-net | (233) | (438) | (574) |
Net cash provided by operating activities | 191,557 | 141,626 | 123,077 |
INVESTING ACTIVITIES | |||
Net decrease (increase) in loans held for investment | 121,504 | (90,225) | (174,952) |
Securities available-for-sale: | |||
Proceeds from sales | 82,134 | 7,760 | 277,225 |
Proceeds from maturities, prepayments and calls | 267,936 | 211,383 | 285,318 |
Purchases of securities | (841,696) | (252,114) | (213,894) |
Securities held-to-maturity: | |||
Proceeds from maturities, prepayments and calls | 78,938 | 118,180 | 110,954 |
Purchases of securities | (89,933) | (66,473) | (93,444) |
Equity securities: | |||
Proceeds from sales | 1,511 | ||
Purchases of securities | (200) | ||
Net cash received from business acquisitions | 278,654 | 4,863 | |
Proceeds from bank-owned life insurance | 4,772 | 349 | 19 |
Purchases of premises and equipment-net | (4,669) | (6,035) | (2,061) |
Sale of portfolio loans-net | 48,990 | 560 | |
Net cash (used in) provided by investing activities | (51,859) | (77,375) | 194,588 |
FINANCING ACTIVITIES | |||
(Decrease) increase in deposits | (129,878) | 4,262 | (216,785) |
Proceeds from Federal Home Loan Bank borrowings | 640,000 | 680,000 | 140,000 |
Repayment of Federal Home Loan Bank borrowings | (589,546) | (700,716) | (233,988) |
Increase in other short-term borrowings | 86,284 | 18,429 | 15,711 |
(Decrease) increase in federal funds purchased | (25,000) | (33,000) | 58,000 |
Repayment of junior subordinated debt | (17,519) | ||
Dividends paid to common shareholders | (53,577) | (44,864) | (37,805) |
Issuance of common stock | 1,578 | 1,040 | 1,713 |
Treasury shares purchased-net | (426) | (3,026) | |
Net cash used in financing activities | (88,084) | (74,849) | (276,180) |
Net increase (decrease) in cash and cash equivalents | 51,614 | (10,598) | 41,485 |
Cash and cash equivalents at beginning of the year | 117,572 | 128,170 | 86,685 |
Cash and cash equivalents at end of the year | 169,186 | 117,572 | 128,170 |
SUPPLEMENTAL DISCLOSURES | |||
Interest paid on deposits and other borrowings | 68,618 | 42,534 | 34,028 |
Income taxes paid | 18,700 | 22,875 | 22,075 |
Transfers of loans to other real estate owned | 1,275 | $ 635 | 4,757 |
Transfers of portfolio loans to loans held for sale | 48,990 | 560 | |
Non-cash transactions related to FFKT, FTSB and YCB acquisitions | $ 498,614 | $ 177,149 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
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. Business Combinations— 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 thirteen 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, “Subordinated Debt and Junior Subordinated Debt”) and the common stock issued by the Trusts is included in the Consolidated Balance Sheets. WesBanco also owns non-controlling Revenue Recognition— Cash and Cash Equivalents— one-day Securities— Equity securities: non-interest Available-for-sale held-to-maturity available-for-sale. Held-to-maturity held-to-maturity available-for-sale held-to-maturity 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: non-interest available-for-sale Amortization and accretion: Other-than-temporary impairment losses: available-for-sale non-credit available-for-sale non-credit Loans and Loans Held for Sale— Performing loans that are not purchase credit impaired loan 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, whether originated or acquired, the remaining unaccreted or unamortized net origination fees or costs, as well as remaining purchased loans premium or discount, are immediately recognized into income. Loans are generally placed on non-accrual non-accrual non-accrual 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 non-accrual Consumer loans are charged down to the net realizable value at 120 days past due for closed-end open-end 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 non-accrual, non-accrual Acquired Loans— Acquired loans that meet the criteria for non-accrual non-accrual non-performing Loans acquired with deteriorated credit quality are accounted for in accordance with Accounting Standards Codification (“ASC”) 310-30, 310-30) non-accrual Under the ASC 310-30 non-accretable non-accretable Over the life of the loan, management continues to estimate cash flows expected to be collected for ASC 310-30 Acquired loans that were not individually determined to be purchased with deteriorated credit quality at acquisition are accounted for in accordance with ASC 310-20, 310-20), loan-by-loan 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 and the velocity of changes in historical loss rates 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 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. Residential real estate, home equity and consumer loans are not risk graded, so historical loss rates are utilized to determine 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 qualitatively 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. Premises and Equipment— Other Real Estate Owned and Repossessed Assets— available-for-sale non-interest Goodwill and Other Intangible Assets— non-controlling 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 Goodwill is evaluated for impairment by either assessing qualitative factors to determine whether it is necessary to perform the goodwill impairment test, or WesBanco may elect to perform the 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 goodwill impairment test is used to identify potential goodwill impairment and measure the amount of a goodwill impairment loss to be recognized, if any. 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, an impairment loss is recognized based on the excess of a reporting unit’s carrying value over its fair value. 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— non-interest tax-exempt. Interest Rate Lock Commitments— one-to-one A mortgage loan sold on a mandatory basis is sold to the secondary market when the mortgage loan is funded. WesBanco enters into TBA contracts in order to control interest rate risk during the period between the IRLC and the sale of the mortgage loan. The IRLC is executed between the mortgagee and WesBanco, and the forward TBA contract is executed between WesBanco and a counterparty. Both the IRLC and the forward TBA contract is considered a derivative. Both types of derivatives are recorded at fair value and are not designated in a qualified hedged accounting program. The changes in fair value are recorded in current earnings within mortgage banking income in the Consolidated Statements of Income. The fair value of IRLC is the gain or loss that would be realized on the underlying loans assuming exercise of the commitments under current market rates versus the rate incorporated in the commitments, taking into consideration loans cancelled prior to completion. The fair value of forward TBA contracts is based on quoted market prices. Since loans typically close before receipt of funding from an investor, they are accounted for at fair value as “Loans Held for Sale” in the Consolidated Balance Sheets. A mortgage loan sold on a best efforts basis is locked into a forward sales contract on the same day as the IRLC to control interest rate risk during the period between the IRLC and the sale of the mortgage loan. The IRLC is executed between the mortgagee and WesBanco, and the forward sales contract is executed between WesBanco and a counterparty. Both the IRLC and the forward sales contract are considered a derivative. Both types of derivatives are recorded at fair value and are not designated in a qualified hedged accounting program. The changes in fair value are recorded in current earnings within mortgage banking income in the Consolidated Statements of Income. The fair value of IRLC is the gain or loss that would be realized on the underlying loans assuming exercise of the commitments under current market rates versus the rate incorporated in the commitments, taking into consideration loans cancelled prior to closing. The fair value of forward sales contracts is based on quoted market prices. Since loans typically close before receipt of funding from an investor, they are accounted for at fair value as “Loans Held for Sale” in the Consolidated Balance Sheets. Derivative Instruments and Hedging Activities— back-to-back Income Taxes— Fair Value— Level 1—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 one or more significant assumptions are not observable, either directly or indirectly, in the market. These unobservable assumptions reflect 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— in-the-money Trust Assets— Stock-Based Compensation— 2016-09, Defined Benefit Pension Plan— Post-retirement Medical Benefit Plan— non-qualified Recent accounting pronouncements— 2018-16, 2017-12, 2018-16 In August 2018, the FASB issued ASU 2018-15, Other—Internal-Use 350-40): internal-use internal-use 2018-15 In August 2018, the FASB issued ASU 2018-14, 715-20): 715-20 2018-14 In August 2018, the FASB issued ASU 2018-13, 2018-13 In August 2017, the FASB issued ASU 2017-12, held-to-maturity available-for-sale In March 2017, the FASB issued ASU 2017-07 non-interest non-service In January 2017, the FASB issued ASU 2017-01, 2017-01 In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In September 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In February 2016, the FASB issued ASU 2016-02 2018-01, 2018-10, 2018-11, right-of-use In January 2016, the FASB issued ASU 2016-01 2018-03, 2016-01. available-for-sale held-to-maturity In May 2014, the FASB issued ASU 2014-09 one-year 2016-08, 2016-10, 2016-12, |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | NOTE 2. MERGERS AND ACQUISITIONS First Sentry Bancshares, Inc. (“FTSB”) On April 5, 2018, WesBanco completed its acquisition of FTSB, a bank holding company headquartered in Huntington, WV. On the acquisition date, FTSB had approximately $704.8 million in assets, excluding goodwill, which included approximately $447.3 million in loans and $142.9 million in securities. The FTSB acquisition was valued at $108.3 million, based on WesBanco’s closing stock price on April 5, 2018, of $42.96, and resulted in WesBanco issuing 2,498,761 shares of its common stock and $1.0 million in cash in exchange for all of the outstanding shares of FTSB common stock including stock options. The assets and liabilities of FTSB were recorded on WesBanco’s Balance Sheet at their fair values as of April 5, 2018, the acquisition date, and FTSB’s results of operations have been included in WesBanco’s Consolidated Statements of Income since that date. Based on the final purchase price allocation, WesBanco recorded $67.7 million in goodwill and $8.1 million in core deposit intangibles in its Community Banking segment. None of the goodwill is deductible for income tax purposes, as the acquisition is accounted for as a tax-free For the year ended December 31, 2018, WesBanco recorded merger-related expenses of $5.5 million associated with the FTSB acquisition. The final purchase price of the FTSB acquisition and resulting goodwill is summarized as follows: (in thousands) April 5, 2018 Purchase Price: Fair value of WesBanco shares issued $ 107,347 Cash consideration for outstanding FTSB shares 975 Total purchase price $ 108,322 Fair value of: Tangible assets acquired $ 609,593 Core deposit and other intangible assets acquired 8,078 Liabilities assumed (664,172 ) Net cash received in the acquisition 87,124 Fair value of net assets acquired 40,623 Goodwill recognized $ 67,699 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) April 5, 2018 Assets acquired Cash and due from banks $ 87,124 Securities 142,903 Loans 447,279 Goodwill and other intangible assets 75,777 Accrued income and other assets 19,411 Total assets acquired $ 772,494 Liabilities assumed Deposits $ 590,065 Borrowings 70,710 Accrued expenses and other liabilities 3,397 Total liabilities assumed $ 664,172 Net assets acquired $ 108,322 The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of September 30, 2018: (in thousands) April 5, 2018 Goodwill recognized as of September 30, 2018 $ 66,849 Change in fair value of net assets acquired: Loans (796 ) Accrued income and other assets (54 ) Fair value of net assets acquired $ (850 ) Increase in goodwill recognized 850 Goodwill recognized as of December 31, 2018 $ 67,699 Farmers Capital Bank Corporation (“FFKT”) On August 20, 2018, WesBanco completed its acquisition of FFKT, a bank holding company headquartered in Frankfort, KY. On the acquisition date, FFKT had approximately $1.6 billion in assets, excluding goodwill, which included approximately $1.0 billion in loans and $239.3 million in securities. The FFKT acquisition was valued at $428.9 million, based on WesBanco’s closing stock price on August 20, 2018, of $49.40, and resulted in WesBanco issuing 7,920,387 shares of its common stock and $37.6 million in cash in exchange for all of the outstanding shares of FFKT common stock. The assets and liabilities of FFKT were recorded on WesBanco’s Balance Sheet at their preliminary estimated fair values as of August 20, 2018, the acquisition date, and FFKT’s results of operations have been included in WesBanco’s Consolidated Statements of Income since that date. The fair values for certain assets and liabilities acquired from FFKT on August 20, 2018 represent preliminary estimates. Based on a preliminary purchase price allocation, WesBanco recorded $220.2 million in goodwill and $37.4 million in core deposit intangibles in its community banking segment and $2.6 million in trust customer relationship intangibles in its trust and investment services segment. None of the goodwill is deductible for income tax purposes, as the acquisition is accounted for as a tax-free For the year ended December 31, 2018, WesBanco recorded merger-related expenses of $12.4 million associated with the FFKT acquisition. The preliminary purchase price of the FFKT acquisition and resulting goodwill is summarized as follows: (in thousands) August 20, 2018 Purchase Price: Fair value of WesBanco shares issued $ 391,267 Cash consideration for outstanding FFKT shares 37,634 Total purchase price $ 428,901 Fair value of: Tangible assets acquired $ 1,368,314 Core deposit and other intangible assets acquired 39,992 Liabilities assumed (1,429,784 ) Net cash received in the acquisition 230,139 Fair value of net assets acquired 208,661 Goodwill recognized $ 220,240 The following table presents the preliminary allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition, as WesBanco intends to finalize its accounting for the acquisition of FFKT within one year from the date of acquisition: (in thousands) August 20, 2018 Assets acquired Cash and due from banks $ 230,139 Securities 239,321 Loans 1,025,776 Goodwill and other intangible assets 260,232 Accrued income and other assets 103,217 Total assets acquired $ 1,858,685 Liabilities assumed Deposits $ 1,330,328 Borrowings 71,780 Accrued expenses and other liabilities 27,676 Total liabilities assumed $ 1,429,784 Net assets acquired $ 428,901 The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of September 30, 2018: (in thousands) August 20, 2018 Goodwill recognized as of September 30, 2018 $ 225,092 Change in fair value of net assets acquired: Assets Loans (2,344 ) Other intangible assets (2,601 ) Accrued income and other assets 9,707 Liabilities Accrued expenses and other liabilities 90 Fair value of net assets acquired $ 4,852 Decrease in goodwill recognized (4,852 ) Goodwill recognized as of December 31, 2018 $ 220,240 The fair value estimates for loans, premises and equipment, deferred taxes and other assets/liabilities have continued to fluctuate as the final valuations and/or appraisals are completed. The Company expects to finalize the purchase price accounts of FFKT within one year of the date of acquisition. |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 2016 Numerator for both basic and diluted earnings per common share: Net income $ 143,112 $ 94,482 $ 86,635 Denominator: Total average basic common shares outstanding 48,889,041 44,003,208 40,100,320 Effect of dilutive stock options and other stock compensation 133,949 72,085 26,756 Total diluted average common shares outstanding 49,022,990 44,075,293 40,127,076 Earnings per common share—basic $ 2.93 $ 2.15 $ 2.16 Earnings per common share—diluted 2.92 2.14 2.16 As of December 31, 2018, 2017 and 2016, respectively, 117,600, 0 and 95,700 options to purchase shares were excluded in the diluted shares computation because the exercise price was greater than the average market price of the common shares and, therefore, the effect would be antidilutive. As of December 31, 2018, contingently issuable shares totaling 42,864, were estimated to be awarded under the 2018 and 2017 total shareholder return plans as stock performance targets have been met to date and are included in the diluted calculation. The shares related to the 2016 total shareholder return plan were not included in the calculation because the effect would be antidilutive. Performance-based restricted stock compensation totaling 17,081 shares were estimated to be awarded as of December 31, 2018 and are included in the diluted calculation. As of December 31, 2017, the shares related to the 2017 and 2016 total shareholder return plan were not included in the calculation because the effect would be antidilutive. Performance-based restricted stock compensation totaling 8,325 shares were estimated to be awarded as of December 31, 2017, and are included in the diluted calculation. As of December 31, 2016, the shares related to the 2016 total shareholder return plan were not included in the calculation because the effect would be antidilutive. On August 20, 2018, WesBanco issued 7,920,387 shares of common stock, 6,690 of which were from treasury stock, to complete its acquisition of FFKT and granted 18,685 shares of restricted stock to certain FFKT employees. These shares are included in average shares outstanding beginning on that date. For additional information relating to the FFKT acquisition, refer to Note 2, “Mergers and Acquisitions.” On April 5, 2018, WesBanco issued 2,498,761 shares of common stock to complete its acquisition of FTSB and granted 9,465 shares of restricted stock to certain FTSB employees. These shares are included in average shares outstanding beginning on that date. For additional information relating to the FTSB acquisition, refer to Note 2, “Mergers and Acquisitions.” On September 9, 2016, WesBanco issued 5,423,348 shares of common stock, 109,257 of which were from treasury stock, to complete its acquisition of YCB. These shares are included in average shares outstanding beginning on that date. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 4. SECURITIES The following table presents the fair value and amortized cost of available-for-sale held-to-maturity December 31, 2018 December 31, 2017 (in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale U.S. Treasury $ 19,882 $ 3 $ (7 ) $ 19,878 $ — $ — $ — $ — U.S. Government sponsored entities and agencies 142,852 556 (1,756 ) 141,652 72,425 24 (606 ) 71,843 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,585,864 2,912 (27,521 ) 1,561,255 954,115 214 (19,407 ) 934,922 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 171,671 264 (2,963 ) 168,972 116,448 4 (1,585 ) 114,867 Obligations of states and political subdivisions 184,057 2,039 (982 ) 185,114 102,363 2,927 (460 ) 104,830 Corporate debt securities 37,730 87 (559 ) 37,258 35,234 228 (59 ) 35,403 Total available-for-sale $ 2,142,056 $ 5,861 $ (33,788 ) $ 2,114,129 $ 1,280,585 $ 3,397 $ (22,117 ) $ 1,261,865 Held-to-maturity U.S. Government sponsored entities and agencies $ 10,823 $ 6 $ (329 ) $ 10,500 $ 11,465 $ — $ (325 ) $ 11,140 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 148,300 204 (4,170 ) 144,334 170,025 544 (2,609 ) 167,960 Obligations of states and political subdivisions 828,520 8,771 (4,012 ) 833,279 794,655 17,364 (1,609 ) 810,410 Corporate debt securities 33,291 12 (673 ) 32,630 33,355 919 — 34,274 Total held-to-maturity $ 1,020,934 $ 8,993 $ (9,184 ) $ 1,020,743 $ 1,009,500 $ 18,827 $ (4,543 ) $ 1,023,784 Total debt securities $ 3,162,990 $ 14,854 $ (42,972 ) $ 3,134,872 $ 2,290,085 $ 22,224 $ (26,660 ) $ 2,285,649 At December 31, 2018 and 2017, there were no holdings of any one issuer, other than U.S. government sponsored entities and its agencies, in an amount greater than 10% of WesBanco’s shareholders’ equity. Equity securities, of which $7.7 million consist of investments in various mutual funds held in grantor trusts formed in connection with the Company’s deferred compensation plan, are recorded at fair value and totaled $11.7 million and $13.5 million at December 31, 2018 and 2017, respectively. The following table presents the fair value of available-for-sale held-to-maturity December 31, 2018 (in thousands) One Year One to Five to After Ten Mortgage-backed Total Available-for-sale U.S. Treasury $ 19,878 $ — $ — $ — $ — $ 19,878 U.S. Government sponsored entities and agencies 493 5,878 18,159 15,756 101,366 141,652 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 1,561,255 1,561,255 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 168,972 168,972 Obligations of states and political subdivisions 9,784 48,457 82,395 44,478 — 185,114 Corporate debt securities 2,680 32,674 1,904 — — 37,258 Total available-for-sale $ 32,835 $ 87,009 $ 102,458 $ 60,234 $ 1,831,593 $ 2,114,129 Held-to-maturity U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 10,500 $ 10,500 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 144,334 144,334 Obligations of states and political subdivisions 6,913 145,238 397,974 283,154 — 833,279 Corporate debt securities — 7,455 25,175 — — 32,630 Total held-to-maturity $ 6,913 $ 152,693 $ 423,149 $ 283,154 $ 154,834 $ 1,020,743 Total debt securities $ 39,748 $ 239,702 $ 525,607 $ 343,388 $ 1,986,427 $ 3,134,872 (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) The held-to-maturity Securities with aggregate fair values of $2.0 billion and $1.4 billion at December 31, 2018 and 2017, 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 available-for-sale The following table presents the gross realized gains and losses on sales and calls of available-for-sale held-to-maturity 2016-01 For the Years Ended (in thousands) 2018 2017 2016 Debt securities: Gross realized gains $ 128 $ 675 $ 2,638 Gross realized losses (46 ) (108 ) (281 ) Net gains on debt securities $ 82 $ 567 $ 2,357 Equity securities: Unrealized losses recognized on securities still held $ (986 ) $ — $ — Net realized gains recognized on securities sold 4 — — Net losses on equity securities $ (982 ) $ — $ — Net securities (losses) gains $ (900 ) $ 567 $ 2,357 The following tables provide information on unrealized losses on debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of December 31, 2018 and 2017: December 31, 2018 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Treasury $ 9,972 $ (7 ) 1 $ — $ — — $ 9,972 $ (7 ) 1 U.S. Government sponsored entities and agencies 18,926 (148 ) 8 76,385 (1,937 ) 14 95,311 (2,085 ) 22 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 285,534 (1,862 ) 44 922,698 (29,829 ) 291 1,208,232 (31,691 ) 335 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 9,186 (18 ) 6 111,068 (2,945 ) 14 120,254 (2,963 ) 20 Obligations of states and political subdivisions 104,469 (439 ) 207 303,681 (4,555 ) 513 408,150 (4,994 ) 720 Corporate debt securities 38,791 (898 ) 18 11,452 (334 ) 5 50,243 (1,232 ) 23 Total temporarily impaired securities $ 466,878 $ (3,372 ) 284 $ 1,425,284 $ (39,600 ) 837 $ 1,892,162 $ (42,972 ) 1,121 December 31, 2017 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 24,776 $ (160 ) 4 $ 42,248 $ (771 ) 8 $ 67,024 $ (931 ) 12 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 423,794 (5,039 ) 87 637,461 (16,977 ) 193 1,061,255 (22,016 ) 280 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 79,061 (1,089 ) 10 27,852 (496 ) 6 106,913 (1,585 ) 16 Obligations of states and political subdivisions 132,831 (852 ) 210 77,554 (1,217 ) 160 210,385 (2,069 ) 370 Corporate debt securities 4,015 (19 ) 1 1,948 (40 ) 1 5,963 (59 ) 2 Total temporarily impaired securities $ 664,477 $ (7,159 ) 312 $ 787,063 $ (19,501 ) 368 $ 1,451,540 $ (26,660 ) 680 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 WesBanco does not believe the securities presented above are impaired due to reasons of credit quality, as substantially all debt securities are rated above investment grade and all are paying principal and interest according to their contractual terms. WesBanco does not intend to sell, nor is it more likely than not that it will be required to sell, loss position securities prior to recovery of their cost, 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, Cincinnati and Indianapolis stock totaling $50.8 million and $45.9 million at December 31, 2018 and 2017, 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, 2018 | |
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, and discounts on purchased loans. Net deferred loan costs were $3.2 million and $1.6 million at December 31, 2018 and 2017, respectively. The unamortized discount on purchased loans from acquisitions was $49.3 million at December 31, 2018, including $9.7 million related to FTSB and $23.4 million related to FFKT, and $21.9 million at December 31, 2017. December 31, December 31, (in thousands) 2018 2017 Commercial real estate: Land and construction $ 528,072 $ 392,597 Improved property 3,325,623 2,601,851 Total commercial real estate 3,853,695 2,994,448 Commercial and industrial 1,265,460 1,125,327 Residential real estate 1,611,607 1,353,301 Home equity 599,331 529,196 Consumer 326,188 339,169 Total portfolio loans 7,656,281 6,341,441 Loans held for sale 8,994 20,320 Total loans $ 7,665,275 $ 6,361,761 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, 2018 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 3,117 $ 21,166 $ 9,414 $ 3,206 $ 4,497 $ 3,063 $ 821 $ 45,284 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total beginning allowance for credit losses 3,236 21,192 9,587 3,213 4,709 3,100 821 45,858 Provision for credit losses: Provision for loan losses 650 (521 ) 3,430 1,612 138 1,142 1,146 7,597 Provision for loan commitments 50 7 89 5 14 2 — 167 Total provision for credit losses 700 (514 ) 3,519 1,617 152 1,144 1,146 7,764 Charge-offs (137 ) (1,090 ) (1,830 ) (1,435 ) (1,193 ) (3,508 ) (1,374 ) (10,567 ) Recoveries 409 1,293 1,100 439 914 2,100 379 6,634 Net recoveries (charge-offs) 272 203 (730 ) (996 ) (279 ) (1,408 ) (995 ) (3,933 ) Balance at end of period: Allowance for loan losses 4,039 20,848 12,114 3,822 4,356 2,797 972 48,948 Allowance for loan commitments 169 33 262 12 226 39 — 741 Total ending allowance for credit losses $ 4,208 $ 20,881 $ 12,376 $ 3,834 $ 4,582 $ 2,836 $ 972 $ 49,689 For the Year Ended December 31, 2017 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 4,348 $ 18,628 $ 8,412 $ 4,106 $ 3,422 $ 3,998 $ 760 $ 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total beginning allowance for credit losses 4,499 18,645 8,600 4,115 3,584 4,042 760 44,245 Provision for credit losses: Provision for loan losses (1,259 ) 4,386 2,733 (175 ) 2,066 1,231 1,001 9,983 Provision for loan commitments (32 ) 9 (15 ) (2 ) 50 (7 ) — 3 Total provision for credit losses (1,291 ) 4,395 2,718 (177 ) 2,116 1,224 1,001 9,986 Charge-offs (72 ) (2,381 ) (2,669 ) (1,064 ) (1,221 ) (3,989 ) (1,293 ) (12,689 ) Recoveries 100 533 938 339 230 1,823 353 4,316 Net recoveries (charge-offs) 28 (1,848 ) (1,731 ) (725 ) (991 ) (2,166 ) (940 ) (8,373 ) Balance at end of period: Allowance for loan losses 3,117 21,166 9,414 3,206 4,497 3,063 821 45,284 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total ending allowance for credit losses $ 3,236 $ 21,192 $ 9,587 $ 3,213 $ 4,709 $ 3,100 $ 821 $ 45,858 For the Year Ended December 31, 2016 (in thousands) Commercial Real Estate- Land and Construction Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: 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 beginning allowance for credit losses 4,547 14,774 10,262 4,589 3,000 4,809 342 42,323 Provision for credit losses: Provision for loan losses 26 4,223 1,160 16 662 1,356 1,077 8,520 Provision for loan commitments (6 ) (9 ) (72 ) 2 45 (2 ) — (42 ) Total provision for credit losses 20 4,214 1,088 18 707 1,354 1,077 8,478 Charge-offs (73 ) (1,886 ) (3,070 ) (937 ) (397 ) (3,606 ) (884 ) (10,853 ) Recoveries 5 1,543 320 445 274 1,485 225 4,297 Net charge-offs (68 ) (343 ) (2,750 ) (492 ) (123 ) (2,121 ) (659 ) (6,556 ) Balance at end of period: Allowance for loan losses 4,348 18,628 8,412 4,106 3,422 3,998 760 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total ending allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 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, 2018 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — Allowance for loans collectively evaluated for impairment 4,039 20,848 12,114 3,822 4,356 2,797 972 48,948 Allowance for loan commitments 169 33 262 12 226 39 — 741 Total allowance for credit losses $ 4,208 $ 20,881 $ 12,376 $ 3,834 $ 4,582 $ 2,836 $ 972 $ 49,689 Portfolio loans: Individually evaluated for impairment (1) $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 527,737 3,319,672 1,264,560 1,609,177 599,331 326,063 — 7,646,540 Acquired with deteriorated credit quality 335 5,951 900 2,430 — 125 — 9,741 Total portfolio loans $ 528,072 $ 3,325,623 $ 1,265,460 $ 1,611,607 $ 599,331 $ 326,188 $ — $ 7,656,281 December 31, 2017 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 388 $ — $ — $ — $ — $ — $ 388 Allowance for loans collectively evaluated for impairment 3,117 20,778 9,414 3,206 4,497 3,063 821 44,896 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total allowance for credit losses $ 3,236 $ 21,192 $ 9,587 $ 3,213 $ 4,709 $ 3,100 $ 821 $ 45,858 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,344 $ — $ — $ — $ — $ — $ 3,344 Collectively evaluated for impairment 391,140 2,593,393 1,124,544 1,352,587 529,196 339,163 — 6,330,023 Acquired with deteriorated credit quality 1,457 5,114 783 714 — 6 — 8,074 Total portfolio loans $ 392,597 $ 2,601,851 $ 1,125,327 $ 1,353,301 $ 529,196 $ 339,169 $ — $ 6,341,441 (1) Commercial loans greater than $1 million that are reported as non-accrual 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 pre-leases Commercial and industrial (“C&I”) loans consist of revolving lines of credit to finance accounts receivable, inventory and other general business purposes; term loans to finance fixed assets other than real estate, and letters of credit to support trade, insurance or governmental requirements for a variety of businesses. Most C&I borrowers are privately-held companies with annual sales up to $100 million. Factors that are considered for C&I loans include the type, quality and marketability of non-real 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. non-accrual. The following tables summarize commercial loans by their assigned risk grade: Commercial Loans by Internally Assigned Risk Grade (in thousands) Commercial Commercial Commercial Total As of December 31, 2018 Pass $ 523,707 $ 3,267,304 $ 1,245,190 $ 5,036,201 Criticized—compromised 2,297 35,566 13,847 51,710 Classified—substandard 2,068 22,753 6,423 31,244 Classified—doubtful — — — — Total $ 528,072 $ 3,325,623 $ 1,265,460 $ 5,119,155 As of December 31, 2017 Pass $ 386,753 $ 2,548,805 $ 1,110,267 $ 4,045,825 Criticized—compromised 2,984 25,673 7,435 36,092 Classified—substandard 2,860 27,373 7,625 37,858 Classified—doubtful — — — — Total $ 392,597 $ 2,601,851 $ 1,125,327 $ 4,119,775 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 $22.9 million at December 31, 2018 and $22.8 million at December 31, 2017, of which $3.9 and $2.5 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 FTSB Loans 310-20 Loans acquired with deteriorated credit quality with a book value of $5.1 million were recorded at the preliminary fair value of $2.3 million, of which $0.7 million were accounted for under the cost recovery method in accordance with ASC 310-30 non-accrual. The carrying amount of loans acquired with deteriorated credit quality at December 31, 2018 was $1.8 million, while the outstanding customer balance was $4.7 million. At December 31, 2018, no allowance for loan losses has been recognized related to the FTSB-acquired impaired loans. Certain acquired underperforming loans with an acquired book value of $21.7 million were sold during the second and fourth quarters of 2018 for $15.7 million. The acquisition date fair value of the acquired loans was adjusted to the sale price resulting in no recognized gain or loss. Acquired FFKT Loans 310-20 Loans acquired with deteriorated credit quality with a book value of $2.7 million were recorded at the preliminary fair value of $2.4 million, of which all were accounted for under the cost recovery method in accordance with ASC 310-30 non-accrual. The carrying amount of loans acquired with deteriorated credit quality at December 31, 2018 was $1.7 million, while the outstanding customer balance was $2.0 million. At December 31, 2018, no allowance for loan losses has been recognized related to the FFKT-acquired impaired loans. Certain acquired underperforming loans with an acquired book value of $45.2 million were sold during the fourth quarter of 2018 for $32.9 million. The acquisition date fair value of the acquired loans was adjusted to the sale price resulting in no recognized gain or loss. The following table provides changes in accretable yield for all loans acquired from prior acquisitions with deteriorated credit quality: For the Years Ended (in thousands) December 31, December 31, Balance at beginning of period $ 1,724 $ 1,717 Acquisitions 885 — Reduction due to change in projected cash flows (776 ) — Reclass from non-accretable 7,052 1,719 Transfers — (216 ) Accretion (2,682 ) (1,496 ) Balance at end of period $ 6,203 $ 1,724 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 90 Days or More As of December 31, 2018 Commercial real estate: Land and construction $ 526,660 $ 62 $ 1,350 $ — $ 1,412 $ 528,072 $ — Improved property 3,314,765 2,266 2,250 6,342 10,858 3,325,623 175 Total commercial real estate 3,841,425 2,328 3,600 6,342 12,270 3,853,695 175 Commercial and industrial 1,261,536 323 594 3,007 3,924 1,265,460 13 Residential real estate 1,593,519 2,717 5,001 10,370 18,088 1,611,607 2,820 Home equity 591,623 2,500 1,273 3,935 7,708 599,331 705 Consumer 322,584 2,084 1,007 513 3,604 326,188 364 Total portfolio loans 7,610,687 9,952 11,475 24,167 45,594 7,656,281 4,077 Loans held for sale 8,994 — — — — 8,994 — Total loans $ 7,619,681 $ 9,952 $ 11,475 $ 24,167 $ 45,594 $ 7,665,275 $ 4,077 Impaired loans included above are as follows: Non-accrual $ 8,910 $ 337 $ 1,370 $ 20,083 21,790 $ 30,700 TDRs accruing interest (1) 5,586 59 92 7 158 5,744 Total impaired $ 14,496 $ 396 $ 1,462 $ 20,090 $ 21,948 $ 36,444 As of December 31, 2017 Commercial real estate: Land and construction $ 392,189 $ — $ 172 $ 236 $ 408 $ 392,597 $ — Improved property 2,589,704 374 1,200 10,573 12,147 2,601,851 243 Total commercial real estate 2,981,893 374 1,372 10,809 12,555 2,994,448 243 Commercial and industrial 1,121,957 572 196 2,602 3,370 1,125,327 20 Residential real estate 1,338,240 4,487 2,376 8,198 15,061 1,353,301 1,113 Home equity 522,584 2,135 683 3,794 6,612 529,196 742 Consumer 334,723 2,466 842 1,138 4,446 339,169 608 Total portfolio loans 6,299,397 10,034 5,469 26,541 42,044 6,341,441 2,726 Loans held for sale 20,320 — — — — 20,320 — Total loans $ 6,319,717 $ 10,034 $ 5,469 $ 26,541 $ 42,044 $ 6,361,761 $ 2,726 Impaired loans included above are as follows: Non-accrual $ 9,195 $ 1,782 $ 2,033 $ 23,815 27,630 $ 36,825 TDRs accruing interest (1) 6,055 348 168 — 516 6,571 Total impaired $ 15,250 $ 2,130 $ 2,201 $ 23,815 $ 28,146 $ 43,396 (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, 2018 December 31, 2017 (in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ — $ — $ 412 $ 239 $ — Improved property 14,038 9,293 — 18,229 12,863 — Commercial and industrial 4,610 3,428 — 3,745 3,086 — Residential real estate 20,270 18,016 — 20,821 18,982 — Home equity 5,924 5,036 — 5,833 5,169 — Consumer 846 671 — 1,084 952 — Total impaired loans without a specific allowance 45,688 36,444 — 50,124 41,291 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property — — — 2,105 2,105 388 Commercial and industrial — — — — — — Total impaired loans with a specific allowance — — — 2,105 2,105 388 Total impaired loans $ 45,688 $ 36,444 $ — $ 52,229 $ 43,396 $ 388 (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off 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 $ 208 $ — $ 460 $ — $ 993 $ — Improved property 10,658 381 10,790 436 9,128 115 Commercial and industrial 3,076 12 3,577 8 3,188 9 Residential real estate 19,026 240 17,991 252 17,021 308 Home equity 5,005 25 4,599 19 3,502 20 Consumer 808 7 787 7 909 8 Total impaired loans without a specific allowance 38,781 665 38,204 722 34,741 460 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 842 — 4,446 — 3,012 — Commercial and industrial — — 254 — 3,214 — Total impaired loans with a specific allowance 842 — 4,700 — 6,226 — Total impaired loans $ 39,623 $ 665 $ 42,904 $ 722 $ 40,967 $ 460 The following tables present the recorded investment in non-accrual Non-accrual (in thousands) December 31, December 31, Commercial real estate: Land and construction $ — $ 239 Improved property 8,413 13,318 Total commercial real estate 8,413 13,557 Commercial and industrial 3,260 2,958 Residential real estate 13,831 14,661 Home equity 4,610 4,762 Consumer 586 887 Total $ 30,700 $ 36,825 (1) At December 31, 2018, there was one borrower with a loan greater than $1.0 million totaling $3.4 million, as compared to three borrowers with loans greater than $1.0 million totaling $6.8 million at December 31, 2017. Total non-accrual non-accrual TDRs December 31, 2018 December 31, 2017 (in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ — $ — $ — $ 3 $ 3 Improved property 880 1,529 2,409 1,650 428 2,078 Total commercial real estate 880 1,529 2,409 1,650 431 2,081 Commercial and industrial 168 169 337 128 97 225 Residential real estate 4,185 921 5,106 4,321 1,880 6,201 Home equity 426 198 624 407 337 744 Consumer 85 38 123 65 120 185 Total $ 5,744 $ 2,855 $ 8,599 $ 6,571 $ 2,865 $ 9,436 As of December 31, 2018 and December 31, 2017, there were no TDRs greater than $1.0 million. The concessions granted in the majority of loans reported as accruing and non-accrual The following table presents details related to loans identified as TDRs during the years ended December 31, 2018 and 2017: New TDRs (1) For the Year Ended December 31, 2018 New TDRs (1) For the Year Ended December 31, 2017 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved property 2 837 805 2 345 331 Total commercial real estate 2 837 805 2 345 331 Commercial and industrial 4 240 188 1 64 58 Residential real estate 4 218 190 3 144 137 Home equity 2 91 84 2 68 61 Consumer 5 69 49 5 43 30 Total 17 $ 1,455 $ 1,316 13 $ 664 $ 617 (1) Excludes loans that were either paid off or charged-off pre-modification The following table summarizes TDRs which defaulted (defined as past due 90 days) during the years ended December 31, 2018 and 2017 that were restructured within the last twelve months prior to December 31, 2018 and 2017: 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 — — — — Total commercial real estate — — — — Commercial and industrial — — — — Residential real estate 2 109 2 128 Home equity — — 1 7 Consumer — — — — Total 2 $ 109 3 $ 135 (1) Excludes loans that were either charged-off TDRs that default are placed on non-accrual The following table summarizes the recognition of interest income on impaired loans: For the years ended December 31, (in thousands) 2018 2017 2016 Average impaired loans $ 39,623 $ 42,904 $ 40,967 Amount of contractual interest income on impaired loans 2,631 3,089 2,747 Amount of interest income recognized on impaired loans 665 722 460 The following table summarizes other real estate owned and repossessed assets included in other assets: December 31, (in thousands) 2018 2017 Other real estate owned $ 7,173 $ 5,195 Repossessed assets 92 102 Total other real estate owned and repossessed assets $ 7,265 $ 5,297 Residential real estate included in other real estate owned at December 31, 2018 and December 31, 2017 was $1.3 million and $1.5 million, respectively. At December 31, 2018 and 2017, formal foreclosure proceedings were in process on residential real estate loans totaling $6.0 million and $3.5 million, respectively. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | NOTE 6. PREMISES AND EQUIPMENT Premises and equipment include: December 31, (in thousands) 2018 2017 Land and improvements $ 55,986 $ 41,209 Buildings and improvements 167,044 141,960 Furniture and equipment 76,870 75,816 Total cost 299,900 258,985 Accumulated depreciation and amortization (132,975 ) (128,263 ) Total premises and equipment, net $ 166,925 $ 130,722 Depreciation and amortization expense of premises and equipment charged to operations for the years ended December 31, 2018, 2017 and 2016 was $10.5 million, $10.4 million and $9.2 million, respectively. WesBanco leases certain premises and equipment under non-cancellable Future minimum lease payments under non-cancellable in thousands Year Amount 2019 $ 4,822 2020 4,329 2021 3,976 2022 3,177 2023 3,231 2024 and thereafter 15,891 Total $ 35,426 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
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 $861.9 million and $573.9 million at December 31, 2018 and 2017, respectively, all of which relates to the Community Banking segment. WesBanco’s other intangible assets of $57.0 million and $15.3 million at December 31, 2018 and 2017, 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 $67.7 million in goodwill and $8.1 million in core deposit intangibles in connection with the FTSB acquisition, and $220.2 million in goodwill and $40.0 million in core deposit and customer list intangibles in connection with the FFKT 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 $6.4 million, $4.1 million and $2.9 million for the years ended December 31, 2018, 2017 and 2016, respectively. WesBanco completed its annual goodwill impairment evaluation as of November 30, 2018 and determined that goodwill was not impaired as of such date as well as December 31, 2018 as there were no significant changes in market conditions, consolidated operating results, or forecasted future results from November 30, 2018. Additionally, there were no events or changes in circumstances indicating impairment of other intangible assets as of December 31, 2018. The following table shows WesBanco’s capitalized other intangible assets and related accumulated amortization: December 31, (in thousands) 2018 2017 Other intangible assets: Gross carrying amount $ 85,796 $ 37,725 Accumulated amortization (28,830 ) (22,407 ) Net carrying amount of other intangible assets $ 56,966 $ 15,318 The following table shows the amortization on WesBanco’s other intangible assets for each of the next five years ( in thousands Year Amount 2019 $ 9,569 2020 8,537 2021 7,449 2022 6,614 2023 5,660 As part of the YCB and ESB acquisitions, WesBanco entered into non-compete non-compete non-compete |
Investments in Limited Partners
Investments in Limited Partnerships | 12 Months Ended |
Dec. 31, 2018 | |
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 low-income No. 2014-01 low-income WesBanco is also a limited partner in eight other limited partnerships, which provide seed money and capital to startup companies, and financing to low-income |
Certificates of Deposit
Certificates of Deposit | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Certificates of Deposit | NOTE 9. CERTIFICATES OF DEPOSIT Certificates of deposit in denominations of $100 thousand or more were $684.6 million and $581.6 million as of December 31, 2018 and 2017, respectively. Interest expense on certificates of deposit of $100 thousand or more was $8.3 million, $4.4 million and $5.0 million for the years ended December 31, 2018, 2017 and 2016, respectively. At December 31, 2018, the scheduled maturities of total certificates of deposit are as follows (in thousands) Year Amount 2019 $ 821,939 2020 307,282 2021 150,149 2022 76,360 2023 56,171 2024 and thereafter 43,709 Total $ 1,455,610 |
FHLB and Other Short-Term Borro
FHLB and Other Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and 2017, WesBanco had FHLB borrowings of $1.1 billion and $0.9 billion, respectively, with a remaining weighted-average interest rate of 2.35% and 1.57%, 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 The following table presents the aggregate annual maturities and weighted-average interest rates of FHLB borrowings at December 31, 2018 based on their contractual maturity dates and interest rates (dollars in thousands) Year Scheduled Weighted 2019 $ 488,561 2.04 % 2020 405,828 2.54 % 2021 140,192 2.82 % 2022 17,830 2.91 % 2023 — — 2024 and thereafter 1,763 1.41 % Total $ 1,054,174 2.35 % Other short-term borrowings of $290.5 million and $184.8 million at December 31, 2018 and 2017, respectively, consist of securities sold under agreements to repurchase, federal funds purchased, and outstanding borrowings on a revolving line of credit. At December 31, 2018 and 2017, securities sold under agreements to repurchase were $290.5 million and $159.8 million, respectively, with a weighted average interest rate during the year of 1.36% and 0.67%, respectively. There were no federal funds purchased outstanding as of December 31, 2018. There were $25.0 million in outstanding balances of federal funds purchased at December 31, 2017, with an interest rate of 1.60%. In September 2018, 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, provides for aggregate unsecured borrowings of up to $25.0 million. There were no outstanding balances as of either December 31, 2018 or 2017. |
Subordinated Debt and Junior Su
Subordinated Debt and Junior Subordinated Debt | 12 Months Ended |
Dec. 31, 2018 | |
Text Block [Abstract] | |
Subordinated Debt and Junior Subordinated Debt | NOTE 11. SUBORDINATED DEBT AND JUNIOR SUBORDINATED DEBT WesBanco had $25.5 million of subordinated debt outstanding at December 31, 2018 that was issued by the former YCB, acquired by WesBanco in 2016. These notes have a fixed rate of 6.25%, mature on December 15, 2025, and are callable on December 15, 2020. The interest rate will become a variable rate equal to 3-month Certain trusts, consisting of WesBanco Capital Trust II, WesBanco Capital Statutory Trust III, WesBanco Capital Trusts IV, V and VI, Oak Hill Capital Trusts 2, 3 and 4, Community Bank Shares Statutory Trusts I and II, First Federal Statutory Trust II, and Farmers Capital Bank Trusts I and III 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, the former Oak Hill Financial, Inc., acquired by WesBanco in 2007, the former YCB, acquired by WesBanco in 2016, and the former FFKT, acquired by WesBanco in 2018, 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 Financial Trusts 2 and 3 were organized in 2004 and Trust 4 was organized in 2005. The Community Bank Trust I was organized in 2004 and Trust II was organized in 2006, both issued by the former YCB. The First Federal Trust II was organized in 2007 as issued by a former thrift acquired by YCB. The Farmers Capital Bank Trust I was organized in 2005, and Trust III was organized in 2007. 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, 2018, 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 YCB acquisition in 2016, WesBanco acquired First Federal Statutory Trust III, a Delaware trust established in 2008 and inherited by YCB as part of their First Financial Services acquisition. The Trust owned Junior Subordinated Debt issued by First Financial Services. The trust preferred securities and junior subordinated debt were redeemed at an aggregate redemption price, excluding accrued interest, of $8.2 million in June 2018. In connection with the FTSB acquisition in 2018, WesBanco acquired First Sentry Bancshares Capital Trust II and Guaranty Financial Statutory Trust I, Delaware trusts established in 2007 by FTSB and 2003 by Guaranty Financial and inherited by FTSB as part of their acquisition. The Trusts owned Junior Subordinated Debt issued by FTSB and Guaranty Financial. The trust preferred securities and junior subordinated debt were redeemed at an aggregate redemption price, excluding accrued interest, of $9.3 million in September 2018. The following table shows WesBanco’s trust subsidiaries with outstanding Trust Preferred Securities as of December 31, 2018: (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 Community Bank Shares Statutory Trust I (3) 6,382 217 6,599 6/17/2034 6/17/2014 Community Bank Shares Statutory Trust II (8) 8,741 310 9,051 6/15/2036 6/15/2016 First Federal Statutory Trust II (9) 8,694 310 9,004 3/22/2037 3/15/2017 Farmers Capital Bank Trust I (10) 10,000 310 10,310 9/30/2035 9/30/2015 Farmers Capital Bank Trust III (11) 22,500 696 23,196 11/1/2037 11/1/2017 Total $ 159,317 $ 5,039 $ 164,356 (1) Variable rate based on the three-month LIBOR plus 3.15% with a current rate of 5.95% through March 30, 2019, adjustable quarterly. (2) Variable rate based on the three-month LIBOR plus 3.10% with a current rate of 5.92% through March 26, 2019, adjustable quarterly. (3) Variable rate based on the three-month LIBOR plus 2.65% with a current rate of 5.44% through March 17, 2019, adjustable quarterly. (4) Variable rate based on the three-month LIBOR plus 1.77% with a current rate of 4.56% through March 17, 2019, adjustable quarterly. (5) Variable rate based on the three-month LIBOR plus 2.40% with a current rate of 4.84% through January 18, 2019, adjustable quarterly. (6) Variable rate based on the three-month LIBOR plus 2.30% with a current rate of 4.74% through January 18, 2019, adjustable quarterly. (7) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 4.40% through March 30, 2019, adjustable quarterly. (8) Variable rate based on the three-month LIBOR plus 1.70% with a current rate of 4.49% through March 15, 2019, adjustable quarterly. (9) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 4.39% through March 15, 2019, adjustable quarterly. (10) Variable rate based on the three-month LIBOR plus 1.50% with a current rate of 4.30% through March 30, 2019, adjustable quarterly. (11) Variable rate based on the three-month LIBOR plus 1.32% with a current rate of 3.86% through February 1, 2019, adjustable quarterly. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | NOTE 12. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives WesBanco is exposed to certain risks arising from both its business operations and economic conditions. WesBanco principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. WesBanco manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. WesBanco’s existing interest rate derivatives result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in WesBanco’s assets or liabilities. WesBanco manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. A matched book is when the Bank’s assets and liabilities are equally distributed but also have similar maturities. Loan Swaps WesBanco executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously economically hedged by offsetting interest rate swaps that WesBanco executes with a third party, such that WesBanco minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements of ASC 815, changes in the fair value of both the customer swaps and the offsetting third-party swaps are recognized directly in earnings. As of December 31, 2018 and 2017, WesBanco had 43 and 39, respectively, interest rate swaps with an aggregate notional amount of $229.8 million and $298.2 million, respectively, related to this program. During the years ended December 31, 2018, 2017 and 2016, WesBanco recognized net (losses) gains of $(0.4) million, $(0.4) million and $0.5 million, respectively, related to the changes in fair value of these swaps. Additionally, WesBanco recognized $2.1 million, $2.3 million and $2.5 million of income for the related swap fees for the years ended December 31, 2018, 2017 and 2016, respectively. Mortgage Loans Held for Sale and Loan Commitments Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as held for sale and carried at fair value as WesBanco has elected the fair value option. Fair value is determined based on rates obtained from the secondary market for loans with similar characteristics. WesBanco sells loans to the secondary market on a mandatory or best efforts basis. The loans sold on a mandatory basis are not committed to an investor until the loan is closed with the borrower. WesBanco enters into forward TBA contracts to manage the interest rate risk between the loan commitment and the closing of the loan. The loans sold on a best efforts basis are committed to an investor simultaneous to the interest rate commitment with the borrower. Fair Values of Derivative Instruments on the Balance Sheet All derivatives are carried on the consolidated balance sheet at fair value. Derivative assets are classified in the consolidated balance sheet under other assets, and derivative liabilities are classified in the consolidated balance sheet under other liabilities. Changes in fair value are recognized in earnings. None of WesBanco’s derivatives is designated in qualifying hedging relationships under ASC 815. The table below presents the fair value of WesBanco’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2018 and December 31, 2017: December 31, 2018 December 31, 2017 (in thousands) Notional or Asset Liability Notional or Asset Liability Derivatives Loan Swaps: Interest rate swaps $ 229,778 $ 4,650 $ 5,081 $ 298,223 $ 7,351 $ 7,345 Other contracts: Interest rate loan commitments 16,113 125 — 20,319 49 — Forward TBA contracts 20,000 — 234 31,750 — 23 Total derivatives $ 4,775 $ 5,315 $ 7,400 $ 7,368 Effect of Derivative Instruments on the Income Statement The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within the other non-interest For the Years Ended December 31, (in thousands) Location of Gain/(Loss) 2018 2017 2016 Interest rate swaps Other income $ (437 ) $ (391 ) $ 495 Interest rate loan commitments Mortgage banking income 125 172 (138 ) Forward TBA contracts Mortgage banking income 443 23 — Total $ 131 $ (196 ) $ 357 Credit-risk-related Contingent Features WesBanco has agreements with its derivative counterparties that contain a provision where if WesBanco defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then WesBanco could also be declared in default on its derivative obligations. WesBanco also has agreements with certain of its derivative counterparties that contain a provision where if WesBanco fails to maintain its status as either a well or adequately capitalized institution, then the counterparty could terminate the derivative positions and WesBanco would be required to settle its obligations under the agreements. WesBanco has minimum collateral posting thresholds with certain of its derivative counterparties and has posted collateral with a market value of $3.9 million as of December 31, 2018. If WesBanco had breached any of these provisions at December 31, 2018, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | NOTE 13. EMPLOYEE BENEFIT PLANS Defined Benefit Pension Plan— non-contributory, The benefit obligations and funded status of the Plan are as follows: December 31, (dollars in thousands) 2018 2017 Accumulated benefit obligation at end of year $ 120,445 $ 119,559 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 130,307 $ 115,458 Service cost 2,835 2,578 Interest cost 4,517 4,393 Actuarial (gain) loss (12,458 ) 12,172 Acquisition 8,560 — Benefits paid (5,003 ) (4,294 ) Projected benefit obligation at end of year $ 128,758 $ 130,307 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 142,422 $ 121,597 Actual return on plan assets (5,587 ) 20,119 Employer contribution 2,500 5,000 Acquisition 6,776 — Benefits paid (5,003 ) (4,294 ) Fair value of plan assets at end of year $ 141,108 $ 142,422 Amounts recognized in the statement of financial position: Funded status $ 12,351 $ 12,115 Net amounts recognized as receivable pension costs in the consolidated balance sheets $ 12,351 $ 12,115 Amounts recognized in accumulated other comprehensive income consist of: Unrecognized prior service cost $ 78 $ 104 Unrecognized net loss 24,780 24,336 Net amounts recognized in accumulated other comprehensive income (before tax) $ 24,858 $ 24,440 Weighted average assumptions used to determine benefit obligations: Discount rate 4.48 % 3.81 % Rate of compensation increase 3.62 % 3.70 % Expected long-term return on assets 6.30 % 6.30 % The components of and weighted-average assumptions used to determine net periodic benefit costs are as follows: For the years ended (dollars in thousands) 2018 2017 2016 Components of net periodic benefit cost: Service cost—benefits earned during year $ 2,835 $ 2,578 $ 2,799 Interest cost on projected benefit obligation 4,517 4,393 5,094 Expected return on plan assets (8,939 ) (7,647 ) (7,719 ) Amortization of prior service cost 26 26 26 Amortization of net loss 3,053 3,221 3,020 Net periodic pension cost $ 1,492 $ 2,571 $ 3,220 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net (gain) loss for period $ 2,068 $ (300 ) $ 3,329 Unrecognized loss on merged plan $ 1,429 $ — $ — Amortization of prior service cost (26 ) (26 ) (26 ) Amortization of net loss (3,053 ) (3,221 ) (3,020 ) Total recognized in other comprehensive income $ 418 $ (3,547 ) $ 283 Total recognized in net periodic pension cost and other comprehensive income $ 1,910 $ (976 ) $ 3,503 Weighted-average assumptions used to determine net periodic pension cost: Discount rate 3.81 % 4.46 % 4.74 % Rate of compensation increase 3.70 % 3.74 % 3.82 % Expected long-term return on assets 6.30 % 6.30 % 6.79 % On December 31, 2016, WesBanco changed the method used to estimate the service and interest components of net periodic benefit cost for pension benefits. This change compared to the previous method resulted in a decrease in the service and interest components for pension cost. Historically, WesBanco estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. WesBanco has elected to utilize a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. The change has been made to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield curve rates. This change does not affect the measurement of the plan’s total benefit obligations as the change in the service and interest costs is completely offset in the actuarial (gain) loss reported. The service cost and interest cost for the plan was reduced by approximately $1.0 million in 2017 as a result of this change. WesBanco accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly accounted for it prospectively. 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 $3.1 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 8 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, 2018 and 2017, the Plan’s equity securities included 55,300 shares of WesBanco common stock with a fair market value of $2.0 million and $2.2 million, respectively. The following table sets forth the Plan’s weighted-average asset allocations by asset category: Target Allocation for 2018 December 31, 2018 2017 Asset Category: Equity securities 55-75 % 62 % 64 % Debt securities 25-55 % 35 % 32 % Cash and cash equivalents 0-5 % 3 % 4 % Total 100 % 100 % The fair values of WesBanco’s pension plan assets at December 31, 2018 and 2017, by asset category are as follows: December 31, 2018 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in Significant Significant Defined benefit pension plan assets: Registered investment companies $ 39,021 $ 39,021 $ — $ — Equity securities 60,127 60,127 — — Corporate debt securities 16,980 — 16,980 — Municipal obligations 2,930 — 2,930 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 22,050 — 22,050 — Total defined benefit pension plan assets (1) $ 141,108 $ 99,148 $ 41,960 $ — (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 $141.4 million. December 31, 2017 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in Significant Significant Defined benefit pension plan assets: Registered investment companies $ 39,799 $ 39,799 $ — $ — Equity securities 64,128 64,128 — — Corporate debt securities 16,147 — 16,147 — Municipal obligations 3,004 — 3,004 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 19,322 — 19,322 — Total defined benefit pension plan assets (1) $ 142,400 $ 103,927 $ 38,473 $ — (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 $142.4 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 2019 $ 4,376 2020 5,456 2021 5,956 2022 6,284 2023 6,643 2024 to 2028 38,526 WesBanco assumed YCB’s obligation for a predecessor bank’s participation in the Pentegra Defined Benefit Plan for Financial Institutions (“Pentegra Plan”). The participating employer plan has been frozen to new participants since 2002. WesBanco spun off the assets from the Pentegra Plan, contributing approximately $2.8 million to satisfy the estimated final costs to do so. This spin off had no impact on earnings as the liability was included in YCB’s balance sheet as of the acquisition date. The distributed assets from the Pentegra Plan were transferred to a plan providing substantially the same benefits to the participants. This plan was merged into the existing WesBanco, Inc. Defined Benefit Pension Plan effective December 31, 2018. FFKT Postretirement Medical Benefit Plan— The benefit obligation and funded status of the plan are as follows: December 31, (dollars in thousands) 2018 Change in projected benefit obligation: Projected benefit obligation at acquisition $ 9,518 Interest cost 138 Plan amendment 2,135 Actuarial gain (151 ) Participant contributions 73 Benefits paid (199 ) Projected benefit obligation at end of year $ 11,514 Amounts recognized in the statement of financial position: Funded status $ (11,514 ) Unrecognized prior service cost — Unrecognized net loss — Net amounts recognized as receivable pension costs in the consolidated balance sheets $ (11,514 ) Amounts recognized in accumulated other comprehensive income consist of: Unrecognized net gain $ (151 ) Prior service cost (3,240 ) Net amounts recognized in accumulated other comprehensive income (before tax) $ (3,391 ) Weighted average assumptions used to determine benefit obligations: Discount rate 4.09 % Rate of compensation increase NA Expected long-term return on assets NA The components of and weighted-average assumptions used to determine net periodic benefit costs are as follows: (dollars in thousands) For the year ended December 31, 2018 Components of net periodic benefit cost: Interest cost on projected benefit obligation $ 138 Amortization of prior service cost (121 ) Net periodic pension cost $ 17 Other changes in plan benefit obligations recognized in other comprehensive income: Prior service cost for period $ — Net gain for the period (151 ) Prior service cost 2,135 Amortization of prior service cost 121 Total recognized in other comprehensive income $ 2,105 Total recognized in net periodic pension cost and other comprehensive income $ 2,122 Weighted-average assumptions used to determine net periodic pension cost: Discount rate 4.05 % Rate of compensation increase NA Expected long-term return on assets NA The following table presents estimated benefits to be paid in each of the next five years and in aggregate for the five years thereafter (in thousands) Year Amount 2019 $ 515 2020 538 2021 570 2022 594 2023 605 2024 to 2028 3,275 Employee Stock Ownership and 401(k) Plan (“KSOP”)— non-contributory As of December 31, 2018, the KSOP held 451,674 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 $3.7 million, $3.3 million and $2.8 million in 2018, 2017 and 2016, respectively. WesBanco had 384,770 and 415,052 shares registered on Form S-8 Incentive Bonus, Option and Restricted Stock Plan— non-qualified S-8, Annual Bonus Compensation expense for the Annual Bonus was $2.0 million, $1.8 million and $1.6 million for 2018, 2017, and 2016, respectively. Stock Options On May 16, 2018, WesBanco granted 117,600 stock options to selected participants, including certain named executive officers at an exercise price of $45.65 per share. The options granted in 2018 are service-based and vest in two equal installments on December 31, 2018 and December 31, 2019, and expire seven years from the date of grant. Compensation expense for the stock option component of the Incentive Plan was $0.9 million, $0.6 million and $0.5 million for 2018, 2017 and 2016, respectively. At December 31, 2018, the total unrecognized compensation expense related to non-vested The total intrinsic value of options exercised was $0.9 million and $0.7 million for the years ended December 31, 2018 and 2017, respectively. The cash received and related tax benefit realized from stock options exercised was $1.8 million and $0.2 million in 2018 and was $1.5 million and $0.3 million in 2017. 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, 2018 2017 2016 Weighted-average life 5.2 years 5.2 years 5.1 years Risk-free interest rate 2.95 % 1.91 % 1.43 % Dividend yield 2.54 % 2.67 % 2.97 % Volatility factor 21.27 % 21.47 % 23.92 % Fair value of the grants $ 8.54 $ 6.02 $ 5.09 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 336,688 $ 33.20 Granted during the year 117,600 45.65 Exercised during the year (58,763 ) 31.48 Forfeited or expired during the year (1,900 ) 37.17 Outstanding at end of the year 393,625 $ 37.15 Exercisable at year end 334,825 $ 35.66 The aggregate intrinsic value of the outstanding shares and the shares exercisable at year-end The following table shows the average remaining life of the stock options at December 31, 2018: Year Issued Exercisable Exercise Options Weighted Weighted Avg. 2012 6,000 $ 20.02 6,000 $ 20.02 0.37 2013 20,250 25.00 20,250 25.00 1.37 2014 32,350 28.79 32,350 28.79 2.39 2015 48,250 31.58 48,250 31.58 3.42 2016 61,850 32.37 61,850 32.37 4.40 2017 107,325 38.88 107,325 38.88 5.35 2018 58,800 45.65 117,600 45.65 6.38 Total 334,825 $ 20.02 to $45.65 393,625 $ 37.15 4.75 Restricted Stock During 2018, WesBanco granted 98,301 shares of service-based restricted stock to certain officers. Of these shares, 79,616 cliff vest 36 months from the date of grant and 18,685 shares cliff vest 24 months from the date of grant. The weighted average fair value of the restricted stock granted was $46.10 per share. The restricted stock grant provides the recipient with voting rights from the date of issuance. Dividends paid on 70,151 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 in cash to participants. Dividends are not accrued on the other 28,150 shares until the restricted stock vests. Voting rights accrue from date of issuance on 70,151 shares granted, while voting rights do not accrue until vested on 28,150 shares granted. WesBanco also granted 8,081 shares of performance-based restricted stock to select officers. These shares have a three-year performance period, beginning January 1, 2019, based on WesBanco’s return on average assets and return on average tangible common equity measured for each year, compared to a national peer group of financial institutions with total assets between approximately $10.5 billion and $24.6 billion. Earned performance-based restricted shares are subject to additional service-based vesting with 50% vesting on May 16, 2022 after the completion of the three-year performance period and the final 50% vesting on May 16, 2023. Dividends accrue on the restricted shares once the performance objective is achieved and then 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 in cash to participants. Voting rights accrue upon achievement of the performance objective. Compensation expense relating to all restricted stock was $3.0 million, $2.1 million and $1.4 million in 2018, 2017 and 2016, respectively. At December 31, 2018, the total unrecognized compensation expense related to non-vested The following table shows the activity for the Restricted Stock component of the Incentive Plan: For the year ended December 31, 2018 Restricted Weighted Non-vested 208,390 $ 34.91 Granted during the year 106,382 46.07 Vested during the year (50,301 ) 31.92 Forfeited or expired during the year (6,565 ) 32.88 Dividend reinvestment 5,551 43.15 Non-vested 263,457 $ 40.21 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 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 award is 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 th Based on the calculation of shareholder return over the measurement period beginning January 1, 2016 and ending December 31, 2018, WesBanco stock performance did not equal or exceed the 50 th Compensation expense relating to the TSR plans was $0.5 million, $0.2 million, and $0.1 million in 2018, 2017 and 2016, respectively. The grant date fair value of the 2018 TSR award was $45.47 per share. At December 31, 2018, the total unrecognized compensation expense related to non-vested |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2018 | |
Text Block [Abstract] | |
Revenue Recognition | NOTE 14. REVENUE RECOGNITION WesBanco adopted ASU 2014-09 Trust fees: Service charges on deposits: Net securities brokerage revenue: Payment processing fees: Electronic banking fees: Mortgage banking income: Net gain or loss on sale of other real estate owned: The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the year ended December 31, 2018: (in thousands) Point of Revenue Recognition For the Year Revenue Streams Trust fees Trust account fees Over time $ 15,833 WesMark fees Over time 8,790 Total trust fees 24,623 Service charges on deposits Commercial banking fees Over time 2,125 Personal service charges At a point in time & over time 21,545 Total service charges on deposits 23,670 Net securities brokerage revenue Annuity commissions At a point in time 5,178 Equity and debt security trades At a point in time 429 Managed money Over time 647 Trail commissions Over time 932 Total net securities brokerage revenue 7,186 Payment processing fees (1) At a point in time & over time 1,028 Electronic banking fees At a point in time 23,300 Mortgage banking income At a point in time 5,840 Net gain or loss on sale of other real estate owned At a point in time 524 (1) Payment processing fees are included in other non-interest |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Other Operating Expenses | NOTE 15. 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) 2018 2017 2016 Franchise and other miscellaneous taxes $ 9,847 $ 8,423 $ 6,825 Consulting, regulatory and advisory fees 6,976 6,857 6,270 ATM and electronic banking interchange expenses 5,718 4,510 4,297 Postage and courier expenses 4,143 3,879 3,306 Supplies 3,180 3,033 2,919 Legal fees 2,778 2,781 2,406 Communications 2,569 2,487 1,800 Other real estate owned and foreclosure expenses 831 1,097 1,210 Other 14,679 12,263 11,967 Total other operating expenses $ 50,721 $ 45,330 $ 41,000 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 16. INCOME TAXES On December 22, 2017, H.R.1, commonly known as the Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act reduced WesBanco’s corporate federal rate from 35% to 21% effective January 1, 2018. As a result, WesBanco was required to remeasure deferred tax assets and liabilities using the enacted rate at which WesBanco expected them to be recovered or settled. The effect of this remeasurement was recorded to income tax expense in the year the tax law is enacted. WesBanco recorded a provisional amount of $12.8 million at December 31, 2017 related to the remeasurement of deferred tax balances. Upon final analysis of available information and refinement of the calculation during 2018, WesBanco increased the provisional amount by $0.1 million, which is included as a component of income tax expense from continuing operations. WesBanco considers the Act remeasurement of the deferred taxes to be complete. Reconciliation from the federal statutory income tax rate to the effective tax rate is as follows: For the years ended December 31, 2018 2017 2016 Federal statutory tax rate 21.0 % 35.0 % 35.0 % Tax reform remeasurement 0.0 % 8.6 % 0.0 % Net tax-exempt (3.2 %) (6.0 %) (7.0 %) State income taxes, net of federal tax effect 1.7 % 1.3 % 1.4 % Bank-owned life insurance (0.8 %) (1.1 %) (1.2 %) General business credits (1.6 %) (1.7 %) (2.1 %) All other—net 0.9 % 0.2 % 0.3 % Effective tax rate 18.0 % 36.3 % 26.4 % The provision for income taxes applicable to income before taxes consists of the following: For the years ended December 31, (in thousands) 2018 2017 2016 Current: Federal $ 20,707 $ 24,634 $ 18,053 State 3,542 2,061 2,159 Deferred: Tax reform remeasurement — 12,765 — Federal 6,864 13,329 10,519 State 299 1,018 305 Total $ 31,412 $ 53,807 $ 31,036 The following income tax amounts were recorded in shareholders’ equity as elements of other comprehensive income: (in thousands) 2018 2017 2016 Securities and defined benefit pension plan unrecognized items $ 1,250 $ 345 $ (3,480 ) Deferred tax assets and liabilities consist of the following: December 31, (in thousands) 2018 2017 2016 Deferred tax assets: Allowance for loan losses $ 11,207 $ 10,389 $ 16,198 Compensation and benefits 5,851 2,536 5,444 Security gains and losses 3,707 821 2,854 Purchase accounting adjustments — 1,565 — Non-accrual 1,388 1,389 2,392 Tax credit carryforwards — 5,204 12,744 Net operating loss carryforwards 4,854 6,062 12,020 Fair value adjustments on securities available-for-sale 6,345 3,962 5,394 Other 2,125 1,118 5,194 Gross deferred tax assets 35,477 33,046 62,240 Deferred tax liabilities: Depreciation and amortization (1,020 ) (1,883 ) (3,448 ) Accretion on securities (461 ) (266 ) (421 ) Deferred fees and costs (1,641 ) (2,989 ) — Purchase accounting adjustments (1,003 ) — (149 ) Partnership adjustments (680 ) (674 ) (1,128 ) Other (367 ) (120 ) (2,519 ) Gross deferred tax liabilities (5,172 ) (5,932 ) (7,665 ) Net deferred tax assets $ 30,305 $ 27,114 $ 54,575 At both December 31, 2018 and 2017, WesBanco had $0.1 million valuation allowance on certain capital loss carryforwards. No valuation allowance was established for the remaining deferred tax assets since management believes that deferred tax assets are likely to be realized through future reversals of existing taxable temporary differences and future taxable income. As a result of the acquisition of YCB in 2016, WesBanco has federal net operating loss carryforwards of $21.3 million, which expire between 2030 and 2036; and Indiana net operating loss carryforwards of $9.2 million, which expire between 2031 and 2036. As a result of the previous acquisitions of YCB, ESB, Fidelity, Western Ohio Financial Corporation, Winton Financial Corporation and Oak Hill Financial, Inc., retained earnings at both December 31, 2018 and 2017 included $45.9 million of qualifying and non-qualifying Federal and state income taxes applicable to securities transactions totaled $(0.2) million, $0.2 million and $0.9 million for the years ended December 31, 2018, 2017 and 2016, respectively. At both December 31, 2018 and 2017, WesBanco had approximately $0.5 million of unrecognized tax benefits and interest. As of December 31, 2018, $0.5 million of these tax benefits would affect the effective tax rate if recognized. At December 31, 2018 and December 31, 2017, accrued interest related to uncertain tax positions was immaterial. 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, ESB, YCB, FTSB and FFKT are no longer subject to any income tax examinations for years prior to 2015. 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) 2018 2017 2016 Balance at beginning of year $ 467 $ 436 $ 326 Additions based on tax positions related to the current year 68 101 110 Reductions for tax positions of prior years — — — Reductions due to the statute of limitations (70 ) (70 ) — Settlements — — — Balance at end of year $ 465 $ 467 $ 436 |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 17. FAIR VALUE MEASUREMENT Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments. Fair value is determined at one point in time and is not representative of future value. These amounts do not reflect the total value of a going concern organization. Management does not have the intention to dispose of a significant portion of its assets and liabilities, and therefore the unrealized gains or losses should not be interpreted as a forecast of future earnings and cash flows. The following is a discussion of assets and liabilities measured at fair value on a recurring basis and valuation techniques applied: Investment securities: Derivatives: WesBanco enters into forward TBA contracts to manage the interest rate risk between the loan commitments to the customer and the closing of the loan for loans that will be sold on a mandatory basis to secondary market investors. The forward TBA contract is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period’s earnings as mortgage banking income. WesBanco determines the fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. WesBanco incorporates credit valuation adjustments to appropriately reflect both its own non-performance non-performance We may be required from time to time to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or write-downs of individual assets and liabilities. Impaired loans: Other real estate owned and repossessed assets: Loans held for sale: Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2018 and December 31, 2017: December 31, 2018 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in Significant Significant Investments Recurring fair value measurements Equity securities $ 11,737 $ 11,737 $ — $ — $ — Available-for-sale U.S. Treasury 19,878 — 19,878 — — U.S. Government sponsored entities and agencies 141,652 — 141,652 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,561,255 — 1,561,255 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 168,972 — 168,972 — — Obligations of state and political subdivisions 185,114 — 183,611 1,503 — Corporate debt securities 37,258 — 37,258 — — Total available-for-sale $ 2,114,129 $ — $ 2,112,626 $ 1,503 $ — Loans held for sale 8,994 — 8,994 — — Other assets—interest rate derivatives agreements 4,650 — 4,650 — — Total assets recurring fair value measurements $ 2,139,510 $ 11,737 $ 2,126,270 $ 1,503 $ — Other liabilities—interest rate derivatives agreements $ 5,081 $ — $ 5,081 $ — $ — Total liabilities recurring fair value measurements $ 5,081 $ — $ 5,081 $ — $ — Nonrecurring fair value measurements Impaired loans $ — $ — $ — $ — $ — Other real estate owned and repossessed assets 7,265 — — 7,265 — Total nonrecurring fair value measurements $ 7,265 $ — $ — $ 7,265 $ — December 31, 2017 Fair Value Measurements Using: (unaudited, in thousands) December 31, Quoted Prices in (level 1) Significant Significant Investments Recurring fair value measurements Equity securities $ 13,457 $ 11,391 $ — $ — $ 2,066 Available-for-sale U.S. Government sponsored entities and agencies 71,843 — 71,843 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 934,922 — 934,922 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 114,867 — 114,867 — — Obligations of state and political subdivisions 104,830 — 104,830 — — Corporate debt securities 35,403 — 35,403 — — Total available-for-sale $ 1,261,865 $ — $ 1,261,865 $ — $ — Loans held for sale 20,320 — 20,320 — — Other assets—interest rate derivatives agreements 7,351 — 7,351 — — Total assets recurring fair value measurements $ 1,302,993 $ 11,391 $ 1,289,536 $ — $ 2,066 Other liabilities—interest rate derivatives agreements $ 7,345 $ — $ 7,345 $ — $ — Total liabilities recurring fair value measurements $ 7,345 $ — $ 7,345 $ — $ — Nonrecurring fair value measurements Impaired loans $ 1,717 $ — $ — $ 1,717 $ — Other real estate owned and repossessed assets 5,297 — — 5,297 — Total nonrecurring fair value measurements $ 7,014 $ — $ — $ 7,014 $ — WesBanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no significant transfers between levels 1, 2, or 3 for the years ended December 31, 2018 and 2017. 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 Unobservable Range / Weighted Average December 31, 2018: Impaired loans $ — Appraisal of collateral (1) Appraisal adjustments (2) — Liquidation expenses (2) — Other real estate owned and repossessed assets 7,265 Appraisal of collateral (1)(3) December 31, 2017: Impaired loans $ 1,717 Appraisal of collateral (1) Appraisal adjustments (2) (4.8%) /(4.8%) Liquidation expenses (2) (7.6%) /(7.6%) Other real estate owned and repossessed assets 5,297 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: Carrying Fair Value Fair Value Measurements at December 31, 2018 (in thousands) Quoted Prices in (level 1) Significant Significant Investments Financial Assets Cash and due from banks $ 169,186 $ 169,186 $ 169,186 $ — $ — $ — Equity securities 11,737 11,737 11,737 — — — Available-for-sale 2,114,129 2,114,129 — 2,112,626 1,503 — Held-to-maturity 1,020,934 1,020,743 — 1,020,195 548 — Net loans 7,607,333 7,422,825 — — 7,422,825 — Loans held for sale 8,994 8,994 — 8,994 — — Other assets—interest rate derivatives 4,650 4,650 — 4,650 — — Accrued interest receivable 38,853 38,853 38,853 — — — Financial Liabilities Deposits 8,831,633 8,836,390 7,376,023 1,460,367 — — Federal Home Loan Bank borrowings 1,054,174 1,051,401 — 1,051,401 — — Other borrowings 290,522 290,854 288,918 1,936 — — Subordinated debt and junior subordinated debt 189,842 174,448 — 174,448 — — Other liabilities—interest rate derivatives 5,081 5,081 — 5,081 — — Accrued interest payable 4,627 4,627 4,627 — — — Carrying Fair Value Fair Value Measurements at December 31, 2017 (in thousands) Quoted Prices in Significant Significant Investments Financial Assets Cash and due from banks $ 117,572 $ 117,572 $ 117,572 $ — $ — $ — Equity securities 13,457 13,457 11,391 — — 2,066 Available-for-sale 1,261,865 1,261,865 — 1,261,865 — — Held-to-maturity 1,009,500 1,023,784 — 1,023,191 593 — Net loans 6,296,157 6,212,823 — — 6,212,823 — Loans held for sale 20,320 20,320 — 20,320 — — Other assets—interest rate derivatives 7,351 7,351 — 7,351 — — Accrued interest receivable 29,728 29,728 29,728 — — — Financial Liabilities Deposits 7,043,588 7,053,536 5,766,531 1,287,005 — — Federal Home Loan Bank borrowings 948,203 944,706 — 944,706 — — Other borrowings 184,805 184,814 182,785 2,029 — — Subordinated debt and junior subordinated debt 164,327 146,484 — 146,484 — — Other liabilities—interest rate derivatives 7,345 7,345 — 7,345 — — Accrued interest payable 3,178 3,178 3,178 — — — 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: Held-to-maturity held-to-maturity Net loans: Accrued interest receivable: . Deposits: Federal Home Loan Bank borrowings: Other borrowings: Subordinated debt and junior subordinated debt: Accrued interest payable: Off-balance Off-balance |
Comprehensive Income_(Loss)
Comprehensive Income/(Loss) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Comprehensive Income/(Loss) | NOTE 18. COMPREHENSIVE INCOME/(LOSS) The activity in accumulated other comprehensive income for the years ended December 31, 2018, 2017 and 2016 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (in thousands) Defined Unrealized Gains Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2017 $ (18,626 ) $ (13,250 ) $ 381 $ (31,495 ) Other comprehensive income/(loss) before reclassifications (4,277 ) (7,220 ) — (11,497 ) Acquired FFKT post-retirement medical benefit plan 4,235 — — 4,235 Amounts reclassified from accumulated other comprehensive income/(loss) 2,126 11 (188 ) 1,949 Period change 2,084 (7,209 ) (188 ) (5,313 ) Adoption of Accounting Standard ASU 2016-01 (2) — (1,063 ) — (1,063 ) Balance at December 31, 2018 $ (16,542 ) $ (21,522 ) $ 193 $ (37,871 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Other comprehensive income/(loss) before reclassifications 239 (985 ) — (746 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,194 (27 ) (209 ) 1,958 Period change 2,433 (1,012 ) (209 ) 1,212 Adoption of accounting standard ASU 2018-02 (3,301 ) (2,348 ) 68 (5,581 ) Balance at December 31, 2017 $ (18,626 ) $ (13,250 ) $ 381 $ (31,495 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Other comprehensive income/(loss) before reclassifications (2,112 ) (4,300 ) — (6,412 ) Amounts reclassified from accumulated other comprehensive income/(loss) 1,893 (1,428 ) (225 ) 240 Period change (219 ) (5,728 ) (225 ) (6,172 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) (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 23% in 2018 and 37% in all prior periods. (2) See Note 1, Summary of Significant Policies for additional information about WesBanco’s adoption of ASU 2016-01. Details about Accumulated Other Comprehensive Amounts Reclassified from Affected Line Item in the Statement of Net (in thousands) 2018 2017 2016 Securities available-for-sale Net securities losses (gains) reclassified into earnings $ 15 $ (42 ) $ (2,251 ) Net securities gains (Non-interest Related income tax (benefit) expense (4 ) 15 823 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 11 (27 ) (1,428 ) Securities held-to-maturity Amortization of unrealized gain transferred from available-for-sale (244 ) (326 ) (357 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 56 117 132 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (188 ) (209 ) (225 ) Defined benefit plans (2): Amortization of net loss and prior service costs 2,948 3,247 3,046 Employee benefits (Non-interest Related income tax benefit (822 ) (1,053 ) (1,153 ) Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 2,126 2,194 1,893 Total reclassifications for the period $ 1,949 $ 1,958 $ 240 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 13, “Employee Benefit Plans” for additional detail. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | NOTE 19. COMMITMENTS AND CONTINGENT LIABILITIES Commitments— off-balance non-performance 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 both December 31, 2018 and 2017. Contingent obligations to purchase loans funded by other entities include affordable housing plan guarantees, credit card guarantees, loans sold with recourse as well as obligations to the FHLB. 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. The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: December 31, (in thousands) 2018 2017 Lines of credit $ 1,894,030 $ 1,452,697 Loans approved but not closed 258,778 245,644 Overdraft limits 153,572 126,671 Letters of credit 42,841 31,951 Contingent obligations and other guarantees 61,509 6,700 Contingent Liabilities— |
Wesbanco Bank Community Develop
Wesbanco Bank Community Development Corporation | 12 Months Ended |
Dec. 31, 2018 | |
Text Block [Abstract] | |
Wesbanco Bank Community Development Corporation | NOTE 20. WESBANCO BANK COMMUNITY DEVELOPMENT CORPORATION WesBanco Bank Community Development Corporation (“WBCDC”), a consolidated subsidiary of WesBanco Bank, is a Certified Development Entity (“CDE”) with $100.0 million of New Markets Tax Credits (“NMTC”) of which $60.0 million had been invested in WBCDC at December 31, 2018. The remaining $40.0 million of NMTC, none of which had been invested as of December 31, 2018, was awarded to WBCDC in 2018. 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 low-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, 2018, WesBanco has received $23.1 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 $0.3 million in tax credits with respect to aggregate QEI amounts invested with a remaining seven-year credit allowance period. In addition, WesBanco will be eligible to receive $15.6 million in tax credits over a seven-year credit allowance period for the $40.0 million NMTC authority awarded in 2018 and to be invested beginning in 2019. WesBanco Bank recognized $0.7 million, $1.0 million and $1.8 million in NMTC in its income tax provision for the years ended December 31, 2018, 2017 and 2016, respectively. These tax credits are subject to certain general business tax credit limitations and are therefore limited in deductibility on WesBanco’s federal income tax return. As of December 31, 2018, no prior NMTC has been carried forward to future tax years. 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, 2018, 2017 and 2016, none of the above recapture events had occurred, nor in the opinion of management are such events anticipated to occur in the foreseeable future. Most all prior credits are no longer subject to recapture. The following condensed financial statements summarize the financial position of WBCDC as of December 31, 2018, and the results of its operations and cash flows for the year ended December 31, 2018: BALANCE SHEET (in thousands) December 31, Assets Cash and due from banks $ 42,711 Loans, net of allowance for loan losses of $261 29,502 Investments 1,441 Other assets 75 Total Assets $ 73,729 Liabilities $ 206 Shareholder Equity 73,523 Total Liabilities and Shareholder Equity $ 73,729 STATEMENT OF INCOME (in thousands) For the year ended Interest income Loans $ 1,103 Other 3 Total interest income 1,106 Provision for loan losses 7 Net interest income after provision for loan losses 1,099 Gain on investments 621 Non-interest 276 Income before provision for income taxes 1,444 Provision for income taxes 333 Net income $ 1,111 STATEMENT OF CASH FLOWS (in thousands) For the year ended Operating Activities Net income $ 1,111 Provision for loan losses 7 Gain on investments (621 ) Net change in other assets 120 Net change in other liabilities (148 ) Net cash provided by operating activities 469 Investing Activities Decrease in loans 5,709 Net cash provided by investing activities 5,709 Financing Activities Qualified equity investment by parent company — Net cash provided by financing activities — Net increase in cash and cash equivalents 6,178 Cash and cash equivalents at beginning of year 36,533 Cash and cash equivalents at end of year $ 42,711 |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Transactions with Related Parties | NOTE 21. 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 $10.6 million, $16.7 million and $18.7 million as of December 31, 2018, 2017, and 2016, respectively. During 2018, $4.5 million in related party loans were funded and $10.6 million were repaid or no longer related. At December 31, 2018, 2017 and 2016, none of the outstanding related party loans were past due 90 days or more, on non-accrual, |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | NOTE 22. REGULATORY MATTERS The Federal Reserve Bank is the primary regulator for the parent company, WesBanco. WesBanco Bank is a state non-member WesBanco and WesBanco Bank are also required to maintain non-interest 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, 2018 and 2017. There are no conditions or events since December 31, 2018 that management believes have changed WesBanco’s “well-capitalized” category. The Basel III capital standards, effective January 1, 2015 with a phase-in WesBanco currently has $164.4 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 $162.5 million, issued by unconsolidated trust subsidiaries of WesBanco underlying such junior subordinated debt, and are considered Tier 1 capital in accordance with current regulatory reporting requirements. The following table summarizes risk-based capital amounts and ratios for WesBanco and the Bank: December 31, 2018 December 31, 2017 (dollars in thousands) Minimum Well Amount Ratio Minimum Amount Ratio Minimum WesBanco, Inc. Tier 1 leverage 4.00 % 5.00 % $ 1,258,605 10.74 % $ 468,824 $ 970,425 10.39 % $ 373,566 Common equity Tier 1 4.50 % 6.50 % 1,096,105 13.14 % 375,254 834,554 12.14 % 309,298 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 1,258,605 15.09 % 500,338 970,425 14.12 % 412,397 Total capital to risk-weighted assets 8.00 % 10.00 % 1,333,503 15.99 % 667,118 1,042,124 15.16 % 549,863 WesBanco Bank, Inc. Tier 1 leverage 4.00 % 5.00 % $ 1,108,600 9.48 % $ 467,939 $ 869,227 9.32 % $ 372,900 Common equity Tier 1 4.50 % 6.50 % 1,108,600 13.30 % 375,117 869,227 12.66 % 308,900 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 1,108,600 13.30 % 500,156 869,227 12.66 % 411,866 Total capital to risk-weighted assets 8.00 % 10.00 % 1,183,498 14.20 % 666,874 940,303 13.70 % 549,155 (1) Minimum requirements to remain adequately capitalized. (2) Well-capitalized under prompt corrective action regulations. |
Condensed Parent Company Financ
Condensed Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Parent Company Financial Statements | NOTE 23. 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) 2018 2017 ASSETS Cash and short-term investments $ 121,857 $ 75,911 Investment in subsidiaries—Bank 1,991,452 1,431,021 Investment in subsidiaries—Nonbank 12,322 7,755 Securities available-for-sale, 1,212 2,687 Other assets 33,159 28,614 Total Assets $ 2,160,002 $ 1,545,988 LIABILITIES Junior subordinated debt owed to unconsolidated subsidiary trusts $ 164,356 $ 138,564 Dividends payable and other liabilities 16,819 12,103 Total Liabilities 181,175 150,667 SHAREHOLDERS’ EQUITY 1,978,827 1,395,321 Total Liabilities and Shareholders’ Equity $ 2,160,002 $ 1,545,988 STATEMENTS OF INCOME For the years ended December 31, (in thousands) 2018 2017 2016 Dividends from subsidiaries—Bank $ 86,000 $ 72,000 $ 85,000 Dividends from subsidiaries—Nonbank 486 2,520 800 Income from securities 24 73 75 Other income 900 203 147 Total income 87,410 74,796 86,022 Interest expense 7,551 6,032 4,136 Other expense 7,940 4,004 5,628 Total expense 15,491 10,036 9,764 Income before income tax benefit and undistributed net income of subsidiaries 71,919 64,760 76,258 Income tax benefit (3,739 ) (4,726 ) (3,149 ) Income before undistributed net income of subsidiaries 75,658 69,486 79,407 Equity in undistributed net income of subsidiaries 67,454 24,996 7,228 NET INCOME $ 143,112 $ 94,482 $ 86,635 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) 2018 2017 2016 OPERATING ACTIVITIES Net income $ 143,112 $ 94,482 $ 86,635 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income (67,454 ) (24,996 ) (7,228 ) (Increase) Decrease in other assets (3,612 ) 566 14,679 Net securities losses 36 — — Other—net 4,988 2,848 2,094 Net cash provided by operating activities 77,070 72,900 96,180 INVESTING ACTIVITIES Proceed from sales—securities available-for-sale 1,511 — — Purchase of securities—securities available-for-sale — (200 ) — Acquisitions and additional capitalization of subsidiaries, net of cash acquired (paid) 37,309 — (43,199 ) Net cash provided (used in) by investing activities 38,820 (200 ) (43,199 ) FINANCING ACTIVITIES Repayment of junior subordinated debt (17,519 ) — — Issuance of common stock 1,578 1,040 1,713 Treasury shares purchased—net (426 ) — (3,026 ) Dividends paid to common and preferred shareholders (53,577 ) (44,864 ) (37,805 ) Net cash used in financing activities (69,944 ) (43,824 ) (39,118 ) Net increase in cash and cash equivalents 45,946 28,876 13,863 Cash and short-term investments at beginning of year 75,911 47,035 33,172 Cash and short-term investments at end of year $ 121,857 $ 75,911 $ 47,035 |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 24. BUSINESS SEGMENTS WesBanco operates two reportable segments: (i) Community Banking and (ii) Trust and Investment Services. WesBanco’s community banking segment offers services traditionally offered by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional Condensed financial information by business segment is presented below: (in thousands) Community Trust and Consolidated For the year ended December 31, 2018: Interest and dividend income $ 414,957 $ — $ 414,957 Interest expense 67,721 — 67,721 Net interest income 347,236 — 347,236 Provision for credit losses 7,764 — 7,764 Net interest income after provision for credit losses 339,472 — 339,472 Non-interest 75,653 24,623 100,276 Non-interest 250,338 14,886 265,224 Income before provision for income taxes 164,787 9,737 174,524 Provision for income taxes 29,367 2,045 31,412 Net income $ 135,420 $ 7,692 $ 143,112 For the year ended December 31, 2017: Interest and dividend income $ 332,424 $ — $ 332,424 Interest expense 42,129 — 42,129 Net interest income 290,295 — 290,295 Provision for credit losses 9,986 — 9,986 Net interest income after provision for credit losses 280,309 — 280,309 Non-interest 66,100 22,740 88,840 Non-interest 207,441 13,419 220,860 Income before provision for income taxes 138,968 9,321 148,289 Provision for income taxes 50,079 3,728 53,807 Net income $ 88,889 $ 5,593 $ 94,482 For the year ended December 31, 2016: Interest and dividend income $ 286,097 $ — $ 286,097 Interest expense 32,767 — 32,767 Net interest income 253,330 — 253,330 Provision for credit losses 8,478 — 8,478 Net interest income after provision for credit losses 244,852 — 244,852 Non-interest 59,869 21,630 81,499 Non-interest 196,784 11,896 208,680 Income before provision for income taxes 107,937 9,734 117,671 Provision for income taxes 27,142 3,894 31,036 Net income $ 80,795 $ 5,840 $ 86,635 Total non-fiduciary |
Condensed Quarterly Statements
Condensed Quarterly Statements of Income (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Condensed Quarterly Statements of Income (Unaudited) | NOTE 25. CONDENSED QUARTERLY STATEMENTS OF INCOME (UNAUDITED) The following tables set forth unaudited consolidated selected quarterly statements of income for the years ended December 31, 2018 and 2017. 2018 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 86,417 $ 98,888 $ 108,393 $ 121,387 $ 414,957 Interest expense 13,125 16,541 18,460 19,620 67,721 Net interest income 73,292 82,347 89,933 101,767 347,236 Provision for credit losses 2,168 1,708 1,035 2,854 7,764 Net interest income after provision for credit losses 71,124 80,639 88,898 98,913 339,472 Non-interest 24,019 23,050 26,140 27,864 101,176 Net securities (losses) gains (39 ) 358 84 (1,303 ) (900 ) Non-interest 54,571 63,543 76,120 70,990 265,224 Income before provision for income taxes 40,533 40,504 39,002 54,484 174,524 Provision for income taxes 7,004 7,335 6,516 10,556 31,412 Net income $ 33,529 $ 33,169 $ 32,486 $ 43,928 $ 143,112 Earnings per common share—basic $ 0.76 $ 0.71 $ 0.65 $ 0.80 $ 2.93 Earnings per common share—diluted $ 0.76 $ 0.71 $ 0.64 $ 0.80 $ 2.92 2017 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 79,924 $ 82,160 $ 85,489 $ 84,851 $ 332,424 Interest expense 9,205 10,021 11,235 11,669 42,129 Net interest income 70,719 72,139 74,254 73,182 290,295 Provision for credit losses 2,711 2,383 2,516 2,376 9,986 Net interest income after provision for credit losses 68,008 69,756 71,738 70,806 280,309 Non-interest 22,872 21,628 20,893 22,878 88,273 Net securities gains 12 494 6 56 567 Non-interest 54,384 55,884 55,754 54,837 220,860 Income before provision for income taxes 36,508 35,994 36,883 38,903 148,289 Provision for income taxes 10,622 9,653 10,527 23,006 53,807 Net income $ 25,886 $ 26,341 $ 26,356 $ 15,897 $ 94,482 Earnings per common share—basic $ 0.59 $ 0.60 $ 0.60 $ 0.36 $ 2.15 Earnings per common share—diluted $ 0.59 $ 0.60 $ 0.60 $ 0.36 $ 2.14 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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. |
Business Combinations | Business Combinations— |
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 thirteen 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, “Subordinated Debt and Junior Subordinated Debt”) and the common stock issued by the Trusts is included in the Consolidated Balance Sheets. WesBanco also owns non-controlling |
Revenue Recognition | Revenue Recognition— |
Cash and Cash Equivalents | Cash and Cash Equivalents— one-day |
Securities | Securities— Equity securities: non-interest Available-for-sale held-to-maturity available-for-sale. Held-to-maturity held-to-maturity available-for-sale held-to-maturity 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: non-interest available-for-sale Amortization and accretion: Other-than-temporary impairment losses: available-for-sale non-credit available-for-sale non-credit |
Loans and Loans Held for Sale | Loans and Loans Held for Sale— Performing loans that are not purchase credit impaired loan 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, whether originated or acquired, the remaining unaccreted or unamortized net origination fees or costs, as well as remaining purchased loans premium or discount, are immediately recognized into income. Loans are generally placed on non-accrual non-accrual non-accrual 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 non-accrual Consumer loans are charged down to the net realizable value at 120 days past due for closed-end open-end |
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 non-accrual, non-accrual |
Acquired Loans | Acquired Loans— Acquired loans that meet the criteria for non-accrual non-accrual non-performing Loans acquired with deteriorated credit quality are accounted for in accordance with Accounting Standards Codification (“ASC”) 310-30, 310-30) non-accrual Under the ASC 310-30 non-accretable non-accretable Over the life of the loan, management continues to estimate cash flows expected to be collected for ASC 310-30 Acquired loans that were not individually determined to be purchased with deteriorated credit quality at acquisition are accounted for in accordance with ASC 310-20, 310-20), loan-by-loan |
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 and the velocity of changes in historical loss rates 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 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. Residential real estate, home equity and consumer loans are not risk graded, so historical loss rates are utilized to determine 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 qualitatively 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. |
Premises and Equipment | Premises and Equipment— |
Other Real Estate Owned and Repossessed Assets | Other Real Estate Owned and Repossessed Assets— available-for-sale non-interest |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets— non-controlling 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 Goodwill is evaluated for impairment by either assessing qualitative factors to determine whether it is necessary to perform the goodwill impairment test, or WesBanco may elect to perform the 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 goodwill impairment test is used to identify potential goodwill impairment and measure the amount of a goodwill impairment loss to be recognized, if any. 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, an impairment loss is recognized based on the excess of a reporting unit’s carrying value over its fair value. 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— non-interest tax-exempt. |
Interest Rate Lock Commitments | Interest Rate Lock Commitments— one-to-one A mortgage loan sold on a mandatory basis is sold to the secondary market when the mortgage loan is funded. WesBanco enters into TBA contracts in order to control interest rate risk during the period between the IRLC and the sale of the mortgage loan. The IRLC is executed between the mortgagee and WesBanco, and the forward TBA contract is executed between WesBanco and a counterparty. Both the IRLC and the forward TBA contract is considered a derivative. Both types of derivatives are recorded at fair value and are not designated in a qualified hedged accounting program. The changes in fair value are recorded in current earnings within mortgage banking income in the Consolidated Statements of Income. The fair value of IRLC is the gain or loss that would be realized on the underlying loans assuming exercise of the commitments under current market rates versus the rate incorporated in the commitments, taking into consideration loans cancelled prior to completion. The fair value of forward TBA contracts is based on quoted market prices. Since loans typically close before receipt of funding from an investor, they are accounted for at fair value as “Loans Held for Sale” in the Consolidated Balance Sheets. A mortgage loan sold on a best efforts basis is locked into a forward sales contract on the same day as the IRLC to control interest rate risk during the period between the IRLC and the sale of the mortgage loan. The IRLC is executed between the mortgagee and WesBanco, and the forward sales contract is executed between WesBanco and a counterparty. Both the IRLC and the forward sales contract are considered a derivative. Both types of derivatives are recorded at fair value and are not designated in a qualified hedged accounting program. The changes in fair value are recorded in current earnings within mortgage banking income in the Consolidated Statements of Income. The fair value of IRLC is the gain or loss that would be realized on the underlying loans assuming exercise of the commitments under current market rates versus the rate incorporated in the commitments, taking into consideration loans cancelled prior to closing. The fair value of forward sales contracts is based on quoted market prices. Since loans typically close before receipt of funding from an investor, they are accounted for at fair value as “Loans Held for Sale” in the Consolidated Balance Sheets. |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities— back-to-back |
Income Taxes | Income Taxes— |
Fair Value | Fair Value— Level 1—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 one or more significant assumptions are not observable, either directly or indirectly, in the market. These unobservable assumptions reflect 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— in-the-money |
Trust Assets | Trust Assets— |
Stock-Based Compensation | Stock-Based Compensation— 2016-09, |
Defined Benefit Pension Plan | Defined Benefit Pension Plan— |
Post-retirement Medical Benefit Plan | Post-retirement Medical Benefit Plan— non-qualified |
Recent accounting pronouncements | Recent accounting pronouncements— 2018-16, 2017-12, 2018-16 In August 2018, the FASB issued ASU 2018-15, Other—Internal-Use 350-40): internal-use internal-use 2018-15 In August 2018, the FASB issued ASU 2018-14, 715-20): 715-20 2018-14 In August 2018, the FASB issued ASU 2018-13, 2018-13 In August 2017, the FASB issued ASU 2017-12, held-to-maturity available-for-sale In March 2017, the FASB issued ASU 2017-07 non-interest non-service In January 2017, the FASB issued ASU 2017-01, 2017-01 In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In September 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In February 2016, the FASB issued ASU 2016-02 2018-01, 2018-10, 2018-11, right-of-use In January 2016, the FASB issued ASU 2016-01 2018-03, 2016-01. available-for-sale held-to-maturity In May 2014, the FASB issued ASU 2014-09 one-year 2016-08, 2016-10, 2016-12, |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Farmers Capital Bank Corporation [Member] | |
Summary of Purchase Price of Acquisition and Resulting Goodwill | The preliminary purchase price of the FFKT acquisition and resulting goodwill is summarized as follows: (in thousands) August 20, 2018 Purchase Price: Fair value of WesBanco shares issued $ 391,267 Cash consideration for outstanding FFKT shares 37,634 Total purchase price $ 428,901 Fair value of: Tangible assets acquired $ 1,368,314 Core deposit and other intangible assets acquired 39,992 Liabilities assumed (1,429,784 ) Net cash received in the acquisition 230,139 Fair value of net assets acquired 208,661 Goodwill recognized $ 220,240 |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the preliminary allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition, as WesBanco intends to finalize its accounting for the acquisition of FFKT within one year from the date of acquisition: (in thousands) August 20, 2018 Assets acquired Cash and due from banks $ 230,139 Securities 239,321 Loans 1,025,776 Goodwill and other intangible assets 260,232 Accrued income and other assets 103,217 Total assets acquired $ 1,858,685 Liabilities assumed Deposits $ 1,330,328 Borrowings 71,780 Accrued expenses and other liabilities 27,676 Total liabilities assumed $ 1,429,784 Net assets acquired $ 428,901 |
Farmers Capital Bank Corporation [Member] | Purchase Price Allocation Adjustment [Member] | |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of September 30, 2018: (in thousands) August 20, 2018 Goodwill recognized as of September 30, 2018 $ 225,092 Change in fair value of net assets acquired: Assets Loans (2,344 ) Other intangible assets (2,601 ) Accrued income and other assets 9,707 Liabilities Accrued expenses and other liabilities 90 Fair value of net assets acquired $ 4,852 Decrease in goodwill recognized (4,852 ) Goodwill recognized as of December 31, 2018 $ 220,240 |
First Sentry Bancshares, Inc. [Member] | |
Summary of Purchase Price of Acquisition and Resulting Goodwill | The final purchase price of the FTSB acquisition and resulting goodwill is summarized as follows: (in thousands) April 5, 2018 Purchase Price: Fair value of WesBanco shares issued $ 107,347 Cash consideration for outstanding FTSB shares 975 Total purchase price $ 108,322 Fair value of: Tangible assets acquired $ 609,593 Core deposit and other intangible assets acquired 8,078 Liabilities assumed (664,172 ) Net cash received in the acquisition 87,124 Fair value of net assets acquired 40,623 Goodwill recognized $ 67,699 |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | 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) April 5, 2018 Assets acquired Cash and due from banks $ 87,124 Securities 142,903 Loans 447,279 Goodwill and other intangible assets 75,777 Accrued income and other assets 19,411 Total assets acquired $ 772,494 Liabilities assumed Deposits $ 590,065 Borrowings 70,710 Accrued expenses and other liabilities 3,397 Total liabilities assumed $ 664,172 Net assets acquired $ 108,322 |
First Sentry Bancshares, Inc. [Member] | Purchase Price Allocation Adjustment [Member] | |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of September 30, 2018: (in thousands) April 5, 2018 Goodwill recognized as of September 30, 2018 $ 66,849 Change in fair value of net assets acquired: Loans (796 ) Accrued income and other assets (54 ) Fair value of net assets acquired $ (850 ) Increase in goodwill recognized 850 Goodwill recognized as of December 31, 2018 $ 67,699 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 2016 Numerator for both basic and diluted earnings per common share: Net income $ 143,112 $ 94,482 $ 86,635 Denominator: Total average basic common shares outstanding 48,889,041 44,003,208 40,100,320 Effect of dilutive stock options and other stock compensation 133,949 72,085 26,756 Total diluted average common shares outstanding 49,022,990 44,075,293 40,127,076 Earnings per common share—basic $ 2.93 $ 2.15 $ 2.16 Earnings per common share—diluted 2.92 2.14 2.16 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Debt Securities | The following table presents the fair value and amortized cost of available-for-sale held-to-maturity December 31, 2018 December 31, 2017 (in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale U.S. Treasury $ 19,882 $ 3 $ (7 ) $ 19,878 $ — $ — $ — $ — U.S. Government sponsored entities and agencies 142,852 556 (1,756 ) 141,652 72,425 24 (606 ) 71,843 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,585,864 2,912 (27,521 ) 1,561,255 954,115 214 (19,407 ) 934,922 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 171,671 264 (2,963 ) 168,972 116,448 4 (1,585 ) 114,867 Obligations of states and political subdivisions 184,057 2,039 (982 ) 185,114 102,363 2,927 (460 ) 104,830 Corporate debt securities 37,730 87 (559 ) 37,258 35,234 228 (59 ) 35,403 Total available-for-sale $ 2,142,056 $ 5,861 $ (33,788 ) $ 2,114,129 $ 1,280,585 $ 3,397 $ (22,117 ) $ 1,261,865 Held-to-maturity U.S. Government sponsored entities and agencies $ 10,823 $ 6 $ (329 ) $ 10,500 $ 11,465 $ — $ (325 ) $ 11,140 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 148,300 204 (4,170 ) 144,334 170,025 544 (2,609 ) 167,960 Obligations of states and political subdivisions 828,520 8,771 (4,012 ) 833,279 794,655 17,364 (1,609 ) 810,410 Corporate debt securities 33,291 12 (673 ) 32,630 33,355 919 — 34,274 Total held-to-maturity $ 1,020,934 $ 8,993 $ (9,184 ) $ 1,020,743 $ 1,009,500 $ 18,827 $ (4,543 ) $ 1,023,784 Total debt securities $ 3,162,990 $ 14,854 $ (42,972 ) $ 3,134,872 $ 2,290,085 $ 22,224 $ (26,660 ) $ 2,285,649 |
Schedule of Fair Value of Available-for-sale and Held-to-maturity Debt Securities by Contractual Maturity | The following table presents the fair value of available-for-sale held-to-maturity December 31, 2018 (in thousands) One Year One to Five to After Ten Mortgage-backed Total Available-for-sale U.S. Treasury $ 19,878 $ — $ — $ — $ — $ 19,878 U.S. Government sponsored entities and agencies 493 5,878 18,159 15,756 101,366 141,652 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 1,561,255 1,561,255 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 168,972 168,972 Obligations of states and political subdivisions 9,784 48,457 82,395 44,478 — 185,114 Corporate debt securities 2,680 32,674 1,904 — — 37,258 Total available-for-sale $ 32,835 $ 87,009 $ 102,458 $ 60,234 $ 1,831,593 $ 2,114,129 Held-to-maturity U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 10,500 $ 10,500 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 144,334 144,334 Obligations of states and political subdivisions 6,913 145,238 397,974 283,154 — 833,279 Corporate debt securities — 7,455 25,175 — — 32,630 Total held-to-maturity $ 6,913 $ 152,693 $ 423,149 $ 283,154 $ 154,834 $ 1,020,743 Total debt securities $ 39,748 $ 239,702 $ 525,607 $ 343,388 $ 1,986,427 $ 3,134,872 (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) The held-to-maturity |
Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities as well as Gains and Losses on Equity Securities, as well as Result of the Adoption of the ASU 2016-01 | The following table presents the gross realized gains and losses on sales and calls of available-for-sale held-to-maturity 2016-01 For the Years Ended (in thousands) 2018 2017 2016 Debt securities: Gross realized gains $ 128 $ 675 $ 2,638 Gross realized losses (46 ) (108 ) (281 ) Net gains on debt securities $ 82 $ 567 $ 2,357 Equity securities: Unrealized losses recognized on securities still held $ (986 ) $ — $ — Net realized gains recognized on securities sold 4 — — Net losses on equity securities $ (982 ) $ — $ — Net securities (losses) gains $ (900 ) $ 567 $ 2,357 |
Schedule of Unrealized Losses on Debt Securities | The following tables provide information on unrealized losses on debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of December 31, 2018 and 2017: December 31, 2018 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Treasury $ 9,972 $ (7 ) 1 $ — $ — — $ 9,972 $ (7 ) 1 U.S. Government sponsored entities and agencies 18,926 (148 ) 8 76,385 (1,937 ) 14 95,311 (2,085 ) 22 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 285,534 (1,862 ) 44 922,698 (29,829 ) 291 1,208,232 (31,691 ) 335 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 9,186 (18 ) 6 111,068 (2,945 ) 14 120,254 (2,963 ) 20 Obligations of states and political subdivisions 104,469 (439 ) 207 303,681 (4,555 ) 513 408,150 (4,994 ) 720 Corporate debt securities 38,791 (898 ) 18 11,452 (334 ) 5 50,243 (1,232 ) 23 Total temporarily impaired securities $ 466,878 $ (3,372 ) 284 $ 1,425,284 $ (39,600 ) 837 $ 1,892,162 $ (42,972 ) 1,121 December 31, 2017 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 24,776 $ (160 ) 4 $ 42,248 $ (771 ) 8 $ 67,024 $ (931 ) 12 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 423,794 (5,039 ) 87 637,461 (16,977 ) 193 1,061,255 (22,016 ) 280 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 79,061 (1,089 ) 10 27,852 (496 ) 6 106,913 (1,585 ) 16 Obligations of states and political subdivisions 132,831 (852 ) 210 77,554 (1,217 ) 160 210,385 (2,069 ) 370 Corporate debt securities 4,015 (19 ) 1 1,948 (40 ) 1 5,963 (59 ) 2 Total temporarily impaired securities $ 664,477 $ (7,159 ) 312 $ 787,063 $ (19,501 ) 368 $ 1,451,540 $ (26,660 ) 680 |
Loans and the Allowance for C_2
Loans and the Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Recorded Investment in Loans by Category | The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. Net deferred loan costs were $3.2 million and $1.6 million at December 31, 2018 and 2017, respectively. The unamortized discount on purchased loans from acquisitions was $49.3 million at December 31, 2018, including $9.7 million related to FTSB and $23.4 million related to FFKT, and $21.9 million at December 31, 2017. December 31, December 31, (in thousands) 2018 2017 Commercial real estate: Land and construction $ 528,072 $ 392,597 Improved property 3,325,623 2,601,851 Total commercial real estate 3,853,695 2,994,448 Commercial and industrial 1,265,460 1,125,327 Residential real estate 1,611,607 1,353,301 Home equity 599,331 529,196 Consumer 326,188 339,169 Total portfolio loans 7,656,281 6,341,441 Loans held for sale 8,994 20,320 Total loans $ 7,665,275 $ 6,361,761 |
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, 2018 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 3,117 $ 21,166 $ 9,414 $ 3,206 $ 4,497 $ 3,063 $ 821 $ 45,284 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total beginning allowance for credit losses 3,236 21,192 9,587 3,213 4,709 3,100 821 45,858 Provision for credit losses: Provision for loan losses 650 (521 ) 3,430 1,612 138 1,142 1,146 7,597 Provision for loan commitments 50 7 89 5 14 2 — 167 Total provision for credit losses 700 (514 ) 3,519 1,617 152 1,144 1,146 7,764 Charge-offs (137 ) (1,090 ) (1,830 ) (1,435 ) (1,193 ) (3,508 ) (1,374 ) (10,567 ) Recoveries 409 1,293 1,100 439 914 2,100 379 6,634 Net recoveries (charge-offs) 272 203 (730 ) (996 ) (279 ) (1,408 ) (995 ) (3,933 ) Balance at end of period: Allowance for loan losses 4,039 20,848 12,114 3,822 4,356 2,797 972 48,948 Allowance for loan commitments 169 33 262 12 226 39 — 741 Total ending allowance for credit losses $ 4,208 $ 20,881 $ 12,376 $ 3,834 $ 4,582 $ 2,836 $ 972 $ 49,689 For the Year Ended December 31, 2017 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 4,348 $ 18,628 $ 8,412 $ 4,106 $ 3,422 $ 3,998 $ 760 $ 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total beginning allowance for credit losses 4,499 18,645 8,600 4,115 3,584 4,042 760 44,245 Provision for credit losses: Provision for loan losses (1,259 ) 4,386 2,733 (175 ) 2,066 1,231 1,001 9,983 Provision for loan commitments (32 ) 9 (15 ) (2 ) 50 (7 ) — 3 Total provision for credit losses (1,291 ) 4,395 2,718 (177 ) 2,116 1,224 1,001 9,986 Charge-offs (72 ) (2,381 ) (2,669 ) (1,064 ) (1,221 ) (3,989 ) (1,293 ) (12,689 ) Recoveries 100 533 938 339 230 1,823 353 4,316 Net recoveries (charge-offs) 28 (1,848 ) (1,731 ) (725 ) (991 ) (2,166 ) (940 ) (8,373 ) Balance at end of period: Allowance for loan losses 3,117 21,166 9,414 3,206 4,497 3,063 821 45,284 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total ending allowance for credit losses $ 3,236 $ 21,192 $ 9,587 $ 3,213 $ 4,709 $ 3,100 $ 821 $ 45,858 For the Year Ended December 31, 2016 (in thousands) Commercial Real Estate- Land and Construction Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: 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 beginning allowance for credit losses 4,547 14,774 10,262 4,589 3,000 4,809 342 42,323 Provision for credit losses: Provision for loan losses 26 4,223 1,160 16 662 1,356 1,077 8,520 Provision for loan commitments (6 ) (9 ) (72 ) 2 45 (2 ) — (42 ) Total provision for credit losses 20 4,214 1,088 18 707 1,354 1,077 8,478 Charge-offs (73 ) (1,886 ) (3,070 ) (937 ) (397 ) (3,606 ) (884 ) (10,853 ) Recoveries 5 1,543 320 445 274 1,485 225 4,297 Net charge-offs (68 ) (343 ) (2,750 ) (492 ) (123 ) (2,121 ) (659 ) (6,556 ) Balance at end of period: Allowance for loan losses 4,348 18,628 8,412 4,106 3,422 3,998 760 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total ending allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 |
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, 2018 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — Allowance for loans collectively evaluated for impairment 4,039 20,848 12,114 3,822 4,356 2,797 972 48,948 Allowance for loan commitments 169 33 262 12 226 39 — 741 Total allowance for credit losses $ 4,208 $ 20,881 $ 12,376 $ 3,834 $ 4,582 $ 2,836 $ 972 $ 49,689 Portfolio loans: Individually evaluated for impairment (1) $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 527,737 3,319,672 1,264,560 1,609,177 599,331 326,063 — 7,646,540 Acquired with deteriorated credit quality 335 5,951 900 2,430 — 125 — 9,741 Total portfolio loans $ 528,072 $ 3,325,623 $ 1,265,460 $ 1,611,607 $ 599,331 $ 326,188 $ — $ 7,656,281 December 31, 2017 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 388 $ — $ — $ — $ — $ — $ 388 Allowance for loans collectively evaluated for impairment 3,117 20,778 9,414 3,206 4,497 3,063 821 44,896 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total allowance for credit losses $ 3,236 $ 21,192 $ 9,587 $ 3,213 $ 4,709 $ 3,100 $ 821 $ 45,858 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,344 $ — $ — $ — $ — $ — $ 3,344 Collectively evaluated for impairment 391,140 2,593,393 1,124,544 1,352,587 529,196 339,163 — 6,330,023 Acquired with deteriorated credit quality 1,457 5,114 783 714 — 6 — 8,074 Total portfolio loans $ 392,597 $ 2,601,851 $ 1,125,327 $ 1,353,301 $ 529,196 $ 339,169 $ — $ 6,341,441 (1) Commercial loans greater than $1 million that are reported as non-accrual |
Summary of Commercial Loans by Risk Grade | The following tables summarize commercial loans by their assigned risk grade: Commercial Loans by Internally Assigned Risk Grade (in thousands) Commercial Commercial Commercial Total As of December 31, 2018 Pass $ 523,707 $ 3,267,304 $ 1,245,190 $ 5,036,201 Criticized—compromised 2,297 35,566 13,847 51,710 Classified—substandard 2,068 22,753 6,423 31,244 Classified—doubtful — — — — Total $ 528,072 $ 3,325,623 $ 1,265,460 $ 5,119,155 As of December 31, 2017 Pass $ 386,753 $ 2,548,805 $ 1,110,267 $ 4,045,825 Criticized—compromised 2,984 25,673 7,435 36,092 Classified—substandard 2,860 27,373 7,625 37,858 Classified—doubtful — — — — Total $ 392,597 $ 2,601,851 $ 1,125,327 $ 4,119,775 |
Summary of Changes in Accretable Yield for Loans Acquired for Prior Acquisitions with Deteriorated Credit Quality | The following table provides changes in accretable yield for all loans acquired from prior acquisitions with deteriorated credit quality: For the Years Ended (in thousands) December 31, December 31, Balance at beginning of period $ 1,724 $ 1,717 Acquisitions 885 — Reduction due to change in projected cash flows (776 ) — Reclass from non-accretable 7,052 1,719 Transfers — (216 ) Accretion (2,682 ) (1,496 ) Balance at end of period $ 6,203 $ 1,724 |
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 90 Days or More As of December 31, 2018 Commercial real estate: Land and construction $ 526,660 $ 62 $ 1,350 $ — $ 1,412 $ 528,072 $ — Improved property 3,314,765 2,266 2,250 6,342 10,858 3,325,623 175 Total commercial real estate 3,841,425 2,328 3,600 6,342 12,270 3,853,695 175 Commercial and industrial 1,261,536 323 594 3,007 3,924 1,265,460 13 Residential real estate 1,593,519 2,717 5,001 10,370 18,088 1,611,607 2,820 Home equity 591,623 2,500 1,273 3,935 7,708 599,331 705 Consumer 322,584 2,084 1,007 513 3,604 326,188 364 Total portfolio loans 7,610,687 9,952 11,475 24,167 45,594 7,656,281 4,077 Loans held for sale 8,994 — — — — 8,994 — Total loans $ 7,619,681 $ 9,952 $ 11,475 $ 24,167 $ 45,594 $ 7,665,275 $ 4,077 Impaired loans included above are as follows: Non-accrual $ 8,910 $ 337 $ 1,370 $ 20,083 21,790 $ 30,700 TDRs accruing interest (1) 5,586 59 92 7 158 5,744 Total impaired $ 14,496 $ 396 $ 1,462 $ 20,090 $ 21,948 $ 36,444 As of December 31, 2017 Commercial real estate: Land and construction $ 392,189 $ — $ 172 $ 236 $ 408 $ 392,597 $ — Improved property 2,589,704 374 1,200 10,573 12,147 2,601,851 243 Total commercial real estate 2,981,893 374 1,372 10,809 12,555 2,994,448 243 Commercial and industrial 1,121,957 572 196 2,602 3,370 1,125,327 20 Residential real estate 1,338,240 4,487 2,376 8,198 15,061 1,353,301 1,113 Home equity 522,584 2,135 683 3,794 6,612 529,196 742 Consumer 334,723 2,466 842 1,138 4,446 339,169 608 Total portfolio loans 6,299,397 10,034 5,469 26,541 42,044 6,341,441 2,726 Loans held for sale 20,320 — — — — 20,320 — Total loans $ 6,319,717 $ 10,034 $ 5,469 $ 26,541 $ 42,044 $ 6,361,761 $ 2,726 Impaired loans included above are as follows: Non-accrual $ 9,195 $ 1,782 $ 2,033 $ 23,815 27,630 $ 36,825 TDRs accruing interest (1) 6,055 348 168 — 516 6,571 Total impaired $ 15,250 $ 2,130 $ 2,201 $ 23,815 $ 28,146 $ 43,396 (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, 2018 December 31, 2017 (in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ — $ — $ 412 $ 239 $ — Improved property 14,038 9,293 — 18,229 12,863 — Commercial and industrial 4,610 3,428 — 3,745 3,086 — Residential real estate 20,270 18,016 — 20,821 18,982 — Home equity 5,924 5,036 — 5,833 5,169 — Consumer 846 671 — 1,084 952 — Total impaired loans without a specific allowance 45,688 36,444 — 50,124 41,291 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property — — — 2,105 2,105 388 Commercial and industrial — — — — — — Total impaired loans with a specific allowance — — — 2,105 2,105 388 Total impaired loans $ 45,688 $ 36,444 $ — $ 52,229 $ 43,396 $ 388 (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off 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 $ 208 $ — $ 460 $ — $ 993 $ — Improved property 10,658 381 10,790 436 9,128 115 Commercial and industrial 3,076 12 3,577 8 3,188 9 Residential real estate 19,026 240 17,991 252 17,021 308 Home equity 5,005 25 4,599 19 3,502 20 Consumer 808 7 787 7 909 8 Total impaired loans without a specific allowance 38,781 665 38,204 722 34,741 460 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 842 — 4,446 — 3,012 — Commercial and industrial — — 254 — 3,214 — Total impaired loans with a specific allowance 842 — 4,700 — 6,226 — Total impaired loans $ 39,623 $ 665 $ 42,904 $ 722 $ 40,967 $ 460 |
Recorded Investment in Non-Accrual Loans and TDRs | The following tables present the recorded investment in non-accrual Non-accrual (in thousands) December 31, December 31, Commercial real estate: Land and construction $ — $ 239 Improved property 8,413 13,318 Total commercial real estate 8,413 13,557 Commercial and industrial 3,260 2,958 Residential real estate 13,831 14,661 Home equity 4,610 4,762 Consumer 586 887 Total $ 30,700 $ 36,825 (1) At December 31, 2018, there was one borrower with a loan greater than $1.0 million totaling $3.4 million, as compared to three borrowers with loans greater than $1.0 million totaling $6.8 million at December 31, 2017. Total non-accrual non-accrual TDRs December 31, 2018 December 31, 2017 (in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ — $ — $ — $ 3 $ 3 Improved property 880 1,529 2,409 1,650 428 2,078 Total commercial real estate 880 1,529 2,409 1,650 431 2,081 Commercial and industrial 168 169 337 128 97 225 Residential real estate 4,185 921 5,106 4,321 1,880 6,201 Home equity 426 198 624 407 337 744 Consumer 85 38 123 65 120 185 Total $ 5,744 $ 2,855 $ 8,599 $ 6,571 $ 2,865 $ 9,436 |
Loans Identified as TDRs | The following table presents details related to loans identified as TDRs during the years ended December 31, 2018 and 2017: New TDRs (1) For the Year Ended December 31, 2018 New TDRs (1) For the Year Ended December 31, 2017 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved property 2 837 805 2 345 331 Total commercial real estate 2 837 805 2 345 331 Commercial and industrial 4 240 188 1 64 58 Residential real estate 4 218 190 3 144 137 Home equity 2 91 84 2 68 61 Consumer 5 69 49 5 43 30 Total 17 $ 1,455 $ 1,316 13 $ 664 $ 617 (1) Excludes loans that were either paid off or charged-off pre-modification The following table summarizes TDRs which defaulted (defined as past due 90 days) during the years ended December 31, 2018 and 2017 that were restructured within the last twelve months prior to December 31, 2018 and 2017: 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 — — — — Total commercial real estate — — — — Commercial and industrial — — — — Residential real estate 2 109 2 128 Home equity — — 1 7 Consumer — — — — Total 2 $ 109 3 $ 135 (1) Excludes loans that were either charged-off |
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) 2018 2017 2016 Average impaired loans $ 39,623 $ 42,904 $ 40,967 Amount of contractual interest income on impaired loans 2,631 3,089 2,747 Amount of interest income recognized on impaired loans 665 722 460 |
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) 2018 2017 Other real estate owned $ 7,173 $ 5,195 Repossessed assets 92 102 Total other real estate owned and repossessed assets $ 7,265 $ 5,297 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Premises and Equipment | Premises and equipment include: December 31, (in thousands) 2018 2017 Land and improvements $ 55,986 $ 41,209 Buildings and improvements 167,044 141,960 Furniture and equipment 76,870 75,816 Total cost 299,900 258,985 Accumulated depreciation and amortization (132,975 ) (128,263 ) Total premises and equipment, net $ 166,925 $ 130,722 |
Future Minimum Lease Payments Under Non-cancellable Leases | Future minimum lease payments under non-cancellable in thousands Year Amount 2019 $ 4,822 2020 4,329 2021 3,976 2022 3,177 2023 3,231 2024 and thereafter 15,891 Total $ 35,426 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 Other intangible assets: Gross carrying amount $ 85,796 $ 37,725 Accumulated amortization (28,830 ) (22,407 ) Net carrying amount of other intangible assets $ 56,966 $ 15,318 |
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 2019 $ 9,569 2020 8,537 2021 7,449 2022 6,614 2023 5,660 |
Certificates of Deposit (Tables
Certificates of Deposit (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Schedule of Maturities of Total Certificates of Deposit | At December 31, 2018, the scheduled maturities of total certificates of deposit are as follows (in thousands) Year Amount 2019 $ 821,939 2020 307,282 2021 150,149 2022 76,360 2023 56,171 2024 and thereafter 43,709 Total $ 1,455,610 |
FHLB and Other Short-Term Bor_2
FHLB and Other Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 based on their contractual maturity dates and interest rates (dollars in thousands) Year Scheduled Weighted 2019 $ 488,561 2.04 % 2020 405,828 2.54 % 2021 140,192 2.82 % 2022 17,830 2.91 % 2023 — — 2024 and thereafter 1,763 1.41 % Total $ 1,054,174 2.35 % |
Subordinated Debt and Junior _2
Subordinated Debt and Junior Subordinated Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018: (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 Community Bank Shares Statutory Trust I (3) 6,382 217 6,599 6/17/2034 6/17/2014 Community Bank Shares Statutory Trust II (8) 8,741 310 9,051 6/15/2036 6/15/2016 First Federal Statutory Trust II (9) 8,694 310 9,004 3/22/2037 3/15/2017 Farmers Capital Bank Trust I (10) 10,000 310 10,310 9/30/2035 9/30/2015 Farmers Capital Bank Trust III (11) 22,500 696 23,196 11/1/2037 11/1/2017 Total $ 159,317 $ 5,039 $ 164,356 (1) Variable rate based on the three-month LIBOR plus 3.15% with a current rate of 5.95% through March 30, 2019, adjustable quarterly. (2) Variable rate based on the three-month LIBOR plus 3.10% with a current rate of 5.92% through March 26, 2019, adjustable quarterly. (3) Variable rate based on the three-month LIBOR plus 2.65% with a current rate of 5.44% through March 17, 2019, adjustable quarterly. (4) Variable rate based on the three-month LIBOR plus 1.77% with a current rate of 4.56% through March 17, 2019, adjustable quarterly. (5) Variable rate based on the three-month LIBOR plus 2.40% with a current rate of 4.84% through January 18, 2019, adjustable quarterly. (6) Variable rate based on the three-month LIBOR plus 2.30% with a current rate of 4.74% through January 18, 2019, adjustable quarterly. (7) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 4.40% through March 30, 2019, adjustable quarterly. (8) Variable rate based on the three-month LIBOR plus 1.70% with a current rate of 4.49% through March 15, 2019, adjustable quarterly. (9) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 4.39% through March 15, 2019, adjustable quarterly. (10) Variable rate based on the three-month LIBOR plus 1.50% with a current rate of 4.30% through March 30, 2019, adjustable quarterly. (11) Variable rate based on the three-month LIBOR plus 1.32% with a current rate of 3.86% through February 1, 2019, adjustable quarterly. |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Fair Values of Derivative Instruments on Balance Sheets | The table below presents the fair value of WesBanco’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2018 and December 31, 2017: December 31, 2018 December 31, 2017 (in thousands) Notional or Asset Liability Notional or Asset Liability Derivatives Loan Swaps: Interest rate swaps $ 229,778 $ 4,650 $ 5,081 $ 298,223 $ 7,351 $ 7,345 Other contracts: Interest rate loan commitments 16,113 125 — 20,319 49 — Forward TBA contracts 20,000 — 234 31,750 — 23 Total derivatives $ 4,775 $ 5,315 $ 7,400 $ 7,368 |
Summary of Effect of Derivative Instruments on Income Statement | The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within the other non-interest For the Years Ended December 31, (in thousands) Location of Gain/(Loss) 2018 2017 2016 Interest rate swaps Other income $ (437 ) $ (391 ) $ 495 Interest rate loan commitments Mortgage banking income 125 172 (138 ) Forward TBA contracts Mortgage banking income 443 23 — Total $ 131 $ (196 ) $ 357 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 Accumulated benefit obligation at end of year $ 120,445 $ 119,559 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 130,307 $ 115,458 Service cost 2,835 2,578 Interest cost 4,517 4,393 Actuarial (gain) loss (12,458 ) 12,172 Acquisition 8,560 — Benefits paid (5,003 ) (4,294 ) Projected benefit obligation at end of year $ 128,758 $ 130,307 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 142,422 $ 121,597 Actual return on plan assets (5,587 ) 20,119 Employer contribution 2,500 5,000 Acquisition 6,776 — Benefits paid (5,003 ) (4,294 ) Fair value of plan assets at end of year $ 141,108 $ 142,422 Amounts recognized in the statement of financial position: Funded status $ 12,351 $ 12,115 Net amounts recognized as receivable pension costs in the consolidated balance sheets $ 12,351 $ 12,115 Amounts recognized in accumulated other comprehensive income consist of: Unrecognized prior service cost $ 78 $ 104 Unrecognized net loss 24,780 24,336 Net amounts recognized in accumulated other comprehensive income (before tax) $ 24,858 $ 24,440 Weighted average assumptions used to determine benefit obligations: Discount rate 4.48 % 3.81 % Rate of compensation increase 3.62 % 3.70 % Expected long-term return on assets 6.30 % 6.30 % |
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 (dollars in thousands) 2018 2017 2016 Components of net periodic benefit cost: Service cost—benefits earned during year $ 2,835 $ 2,578 $ 2,799 Interest cost on projected benefit obligation 4,517 4,393 5,094 Expected return on plan assets (8,939 ) (7,647 ) (7,719 ) Amortization of prior service cost 26 26 26 Amortization of net loss 3,053 3,221 3,020 Net periodic pension cost $ 1,492 $ 2,571 $ 3,220 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net (gain) loss for period $ 2,068 $ (300 ) $ 3,329 Unrecognized loss on merged plan $ 1,429 $ — $ — Amortization of prior service cost (26 ) (26 ) (26 ) Amortization of net loss (3,053 ) (3,221 ) (3,020 ) Total recognized in other comprehensive income $ 418 $ (3,547 ) $ 283 Total recognized in net periodic pension cost and other comprehensive income $ 1,910 $ (976 ) $ 3,503 Weighted-average assumptions used to determine net periodic pension cost: Discount rate 3.81 % 4.46 % 4.74 % Rate of compensation increase 3.70 % 3.74 % 3.82 % Expected long-term return on assets 6.30 % 6.30 % 6.79 % |
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 2018 December 31, 2018 2017 Asset Category: Equity securities 55-75 % 62 % 64 % Debt securities 25-55 % 35 % 32 % Cash and cash equivalents 0-5 % 3 % 4 % Total 100 % 100 % |
Fair Values of the WesBanco's Pension Plan Assets | The fair values of WesBanco’s pension plan assets at December 31, 2018 and 2017, by asset category are as follows: December 31, 2018 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in Significant Significant Defined benefit pension plan assets: Registered investment companies $ 39,021 $ 39,021 $ — $ — Equity securities 60,127 60,127 — — Corporate debt securities 16,980 — 16,980 — Municipal obligations 2,930 — 2,930 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 22,050 — 22,050 — Total defined benefit pension plan assets (1) $ 141,108 $ 99,148 $ 41,960 $ — (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 $141.4 million. December 31, 2017 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in Significant Significant Defined benefit pension plan assets: Registered investment companies $ 39,799 $ 39,799 $ — $ — Equity securities 64,128 64,128 — — Corporate debt securities 16,147 — 16,147 — Municipal obligations 3,004 — 3,004 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 19,322 — 19,322 — Total defined benefit pension plan assets (1) $ 142,400 $ 103,927 $ 38,473 $ — (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 $142.4 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 2019 $ 4,376 2020 5,456 2021 5,956 2022 6,284 2023 6,643 2024 to 2028 38,526 |
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, 2018 2017 2016 Weighted-average life 5.2 years 5.2 years 5.1 years Risk-free interest rate 2.95 % 1.91 % 1.43 % Dividend yield 2.54 % 2.67 % 2.97 % Volatility factor 21.27 % 21.47 % 23.92 % Fair value of the grants $ 8.54 $ 6.02 $ 5.09 |
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 336,688 $ 33.20 Granted during the year 117,600 45.65 Exercised during the year (58,763 ) 31.48 Forfeited or expired during the year (1,900 ) 37.17 Outstanding at end of the year 393,625 $ 37.15 Exercisable at year end 334,825 $ 35.66 |
Summary of Average Remaining Life of the Stock Options | The following table shows the average remaining life of the stock options at December 31, 2018: Year Issued Exercisable Exercise Options Weighted Weighted Avg. 2012 6,000 $ 20.02 6,000 $ 20.02 0.37 2013 20,250 25.00 20,250 25.00 1.37 2014 32,350 28.79 32,350 28.79 2.39 2015 48,250 31.58 48,250 31.58 3.42 2016 61,850 32.37 61,850 32.37 4.40 2017 107,325 38.88 107,325 38.88 5.35 2018 58,800 45.65 117,600 45.65 6.38 Total 334,825 $ 20.02 to $45.65 393,625 $ 37.15 4.75 |
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, 2018 Restricted Weighted Non-vested 208,390 $ 34.91 Granted during the year 106,382 46.07 Vested during the year (50,301 ) 31.92 Forfeited or expired during the year (6,565 ) 32.88 Dividend reinvestment 5,551 43.15 Non-vested 263,457 $ 40.21 |
Farmers Capital Bank Corporation Postretirement Medical Benefit Plan [Member] | |
Summary of Benefit Obligations and Funded Status of the Plan | The benefit obligation and funded status of the plan are as follows: December 31, (dollars in thousands) 2018 Change in projected benefit obligation: Projected benefit obligation at acquisition $ 9,518 Interest cost 138 Plan amendment 2,135 Actuarial gain (151 ) Participant contributions 73 Benefits paid (199 ) Projected benefit obligation at end of year $ 11,514 Amounts recognized in the statement of financial position: Funded status $ (11,514 ) Unrecognized prior service cost — Unrecognized net loss — Net amounts recognized as receivable pension costs in the consolidated balance sheets $ (11,514 ) Amounts recognized in accumulated other comprehensive income consist of: Unrecognized net gain $ (151 ) Prior service cost (3,240 ) Net amounts recognized in accumulated other comprehensive income (before tax) $ (3,391 ) Weighted average assumptions used to determine benefit obligations: Discount rate 4.09 % Rate of compensation increase NA Expected long-term return on assets NA |
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: (dollars in thousands) For the year ended December 31, 2018 Components of net periodic benefit cost: Interest cost on projected benefit obligation $ 138 Amortization of prior service cost (121 ) Net periodic pension cost $ 17 Other changes in plan benefit obligations recognized in other comprehensive income: Prior service cost for period $ — Net gain for the period (151 ) Prior service cost 2,135 Amortization of prior service cost 121 Total recognized in other comprehensive income $ 2,105 Total recognized in net periodic pension cost and other comprehensive income $ 2,122 Weighted-average assumptions used to determine net periodic pension cost: Discount rate 4.05 % Rate of compensation increase NA Expected long-term return on assets NA |
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 aggregate for the five years thereafter (in thousands) Year Amount 2019 $ 515 2020 538 2021 570 2022 594 2023 605 2024 to 2028 3,275 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block [Abstract] | |
Summary of Revenue Recognition | The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the year ended December 31, 2018: (in thousands) Point of Revenue Recognition For the Year Revenue Streams Trust fees Trust account fees Over time $ 15,833 WesMark fees Over time 8,790 Total trust fees 24,623 Service charges on deposits Commercial banking fees Over time 2,125 Personal service charges At a point in time & over time 21,545 Total service charges on deposits 23,670 Net securities brokerage revenue Annuity commissions At a point in time 5,178 Equity and debt security trades At a point in time 429 Managed money Over time 647 Trail commissions Over time 932 Total net securities brokerage revenue 7,186 Payment processing fees (1) At a point in time & over time 1,028 Electronic banking fees At a point in time 23,300 Mortgage banking income At a point in time 5,840 Net gain or loss on sale of other real estate owned At a point in time 524 (1) Payment processing fees are included in other non-interest |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 2016 Franchise and other miscellaneous taxes $ 9,847 $ 8,423 $ 6,825 Consulting, regulatory and advisory fees 6,976 6,857 6,270 ATM and electronic banking interchange expenses 5,718 4,510 4,297 Postage and courier expenses 4,143 3,879 3,306 Supplies 3,180 3,033 2,919 Legal fees 2,778 2,781 2,406 Communications 2,569 2,487 1,800 Other real estate owned and foreclosure expenses 831 1,097 1,210 Other 14,679 12,263 11,967 Total other operating expenses $ 50,721 $ 45,330 $ 41,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 December 31, 2018 2017 2016 Federal statutory tax rate 21.0 % 35.0 % 35.0 % Tax reform remeasurement 0.0 % 8.6 % 0.0 % Net tax-exempt (3.2 %) (6.0 %) (7.0 %) State income taxes, net of federal tax effect 1.7 % 1.3 % 1.4 % Bank-owned life insurance (0.8 %) (1.1 %) (1.2 %) General business credits (1.6 %) (1.7 %) (2.1 %) All other—net 0.9 % 0.2 % 0.3 % Effective tax rate 18.0 % 36.3 % 26.4 % |
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) 2018 2017 2016 Current: Federal $ 20,707 $ 24,634 $ 18,053 State 3,542 2,061 2,159 Deferred: Tax reform remeasurement — 12,765 — Federal 6,864 13,329 10,519 State 299 1,018 305 Total $ 31,412 $ 53,807 $ 31,036 |
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: (in thousands) 2018 2017 2016 Securities and defined benefit pension plan unrecognized items $ 1,250 $ 345 $ (3,480 ) |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consist of the following: December 31, (in thousands) 2018 2017 2016 Deferred tax assets: Allowance for loan losses $ 11,207 $ 10,389 $ 16,198 Compensation and benefits 5,851 2,536 5,444 Security gains and losses 3,707 821 2,854 Purchase accounting adjustments — 1,565 — Non-accrual 1,388 1,389 2,392 Tax credit carryforwards — 5,204 12,744 Net operating loss carryforwards 4,854 6,062 12,020 Fair value adjustments on securities available-for-sale 6,345 3,962 5,394 Other 2,125 1,118 5,194 Gross deferred tax assets 35,477 33,046 62,240 Deferred tax liabilities: Depreciation and amortization (1,020 ) (1,883 ) (3,448 ) Accretion on securities (461 ) (266 ) (421 ) Deferred fees and costs (1,641 ) (2,989 ) — Purchase accounting adjustments (1,003 ) — (149 ) Partnership adjustments (680 ) (674 ) (1,128 ) Other (367 ) (120 ) (2,519 ) Gross deferred tax liabilities (5,172 ) (5,932 ) (7,665 ) Net deferred tax assets $ 30,305 $ 27,114 $ 54,575 |
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) 2018 2017 2016 Balance at beginning of year $ 467 $ 436 $ 326 Additions based on tax positions related to the current year 68 101 110 Reductions for tax positions of prior years — — — Reductions due to the statute of limitations (70 ) (70 ) — Settlements — — — Balance at end of year $ 465 $ 467 $ 436 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and December 31, 2017: December 31, 2018 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in Significant Significant Investments Recurring fair value measurements Equity securities $ 11,737 $ 11,737 $ — $ — $ — Available-for-sale U.S. Treasury 19,878 — 19,878 — — U.S. Government sponsored entities and agencies 141,652 — 141,652 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,561,255 — 1,561,255 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 168,972 — 168,972 — — Obligations of state and political subdivisions 185,114 — 183,611 1,503 — Corporate debt securities 37,258 — 37,258 — — Total available-for-sale $ 2,114,129 $ — $ 2,112,626 $ 1,503 $ — Loans held for sale 8,994 — 8,994 — — Other assets—interest rate derivatives agreements 4,650 — 4,650 — — Total assets recurring fair value measurements $ 2,139,510 $ 11,737 $ 2,126,270 $ 1,503 $ — Other liabilities—interest rate derivatives agreements $ 5,081 $ — $ 5,081 $ — $ — Total liabilities recurring fair value measurements $ 5,081 $ — $ 5,081 $ — $ — Nonrecurring fair value measurements Impaired loans $ — $ — $ — $ — $ — Other real estate owned and repossessed assets 7,265 — — 7,265 — Total nonrecurring fair value measurements $ 7,265 $ — $ — $ 7,265 $ — December 31, 2017 Fair Value Measurements Using: (unaudited, in thousands) December 31, Quoted Prices in (level 1) Significant Significant Investments Recurring fair value measurements Equity securities $ 13,457 $ 11,391 $ — $ — $ 2,066 Available-for-sale U.S. Government sponsored entities and agencies 71,843 — 71,843 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 934,922 — 934,922 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 114,867 — 114,867 — — Obligations of state and political subdivisions 104,830 — 104,830 — — Corporate debt securities 35,403 — 35,403 — — Total available-for-sale $ 1,261,865 $ — $ 1,261,865 $ — $ — Loans held for sale 20,320 — 20,320 — — Other assets—interest rate derivatives agreements 7,351 — 7,351 — — Total assets recurring fair value measurements $ 1,302,993 $ 11,391 $ 1,289,536 $ — $ 2,066 Other liabilities—interest rate derivatives agreements $ 7,345 $ — $ 7,345 $ — $ — Total liabilities recurring fair value measurements $ 7,345 $ — $ 7,345 $ — $ — Nonrecurring fair value measurements Impaired loans $ 1,717 $ — $ — $ 1,717 $ — Other real estate owned and repossessed assets 5,297 — — 5,297 — Total nonrecurring fair value measurements $ 7,014 $ — $ — $ 7,014 $ — WesBanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no significant transfers between levels 1, 2, or 3 for the years ended December 31, 2018 and 2017. 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 Unobservable Range / Weighted Average December 31, 2018: Impaired loans $ — Appraisal of collateral (1) Appraisal adjustments (2) — Liquidation expenses (2) — Other real estate owned and repossessed assets 7,265 Appraisal of collateral (1)(3) December 31, 2017: Impaired loans $ 1,717 Appraisal of collateral (1) Appraisal adjustments (2) (4.8%) /(4.8%) Liquidation expenses (2) (7.6%) /(7.6%) Other real estate owned and repossessed assets 5,297 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: Carrying Fair Value Fair Value Measurements at December 31, 2018 (in thousands) Quoted Prices in (level 1) Significant Significant Investments Financial Assets Cash and due from banks $ 169,186 $ 169,186 $ 169,186 $ — $ — $ — Equity securities 11,737 11,737 11,737 — — — Available-for-sale 2,114,129 2,114,129 — 2,112,626 1,503 — Held-to-maturity 1,020,934 1,020,743 — 1,020,195 548 — Net loans 7,607,333 7,422,825 — — 7,422,825 — Loans held for sale 8,994 8,994 — 8,994 — — Other assets—interest rate derivatives 4,650 4,650 — 4,650 — — Accrued interest receivable 38,853 38,853 38,853 — — — Financial Liabilities Deposits 8,831,633 8,836,390 7,376,023 1,460,367 — — Federal Home Loan Bank borrowings 1,054,174 1,051,401 — 1,051,401 — — Other borrowings 290,522 290,854 288,918 1,936 — — Subordinated debt and junior subordinated debt 189,842 174,448 — 174,448 — — Other liabilities—interest rate derivatives 5,081 5,081 — 5,081 — — Accrued interest payable 4,627 4,627 4,627 — — — Carrying Fair Value Fair Value Measurements at December 31, 2017 (in thousands) Quoted Prices in Significant Significant Investments Financial Assets Cash and due from banks $ 117,572 $ 117,572 $ 117,572 $ — $ — $ — Equity securities 13,457 13,457 11,391 — — 2,066 Available-for-sale 1,261,865 1,261,865 — 1,261,865 — — Held-to-maturity 1,009,500 1,023,784 — 1,023,191 593 — Net loans 6,296,157 6,212,823 — — 6,212,823 — Loans held for sale 20,320 20,320 — 20,320 — — Other assets—interest rate derivatives 7,351 7,351 — 7,351 — — Accrued interest receivable 29,728 29,728 29,728 — — — Financial Liabilities Deposits 7,043,588 7,053,536 5,766,531 1,287,005 — — Federal Home Loan Bank borrowings 948,203 944,706 — 944,706 — — Other borrowings 184,805 184,814 182,785 2,029 — — Subordinated debt and junior subordinated debt 164,327 146,484 — 146,484 — — Other liabilities—interest rate derivatives 7,345 7,345 — 7,345 — — Accrued interest payable 3,178 3,178 3,178 — — — |
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 Unobservable Range / Weighted Average December 31, 2018: Impaired loans $ — Appraisal of collateral (1) Appraisal adjustments (2) — Liquidation expenses (2) — Other real estate owned and repossessed assets 7,265 Appraisal of collateral (1)(3) December 31, 2017: Impaired loans $ 1,717 Appraisal of collateral (1) Appraisal adjustments (2) (4.8%) /(4.8%) Liquidation expenses (2) (7.6%) /(7.6%) Other real estate owned and repossessed assets 5,297 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: Carrying Fair Value Fair Value Measurements at December 31, 2018 (in thousands) Quoted Prices in (level 1) Significant Significant Investments Financial Assets Cash and due from banks $ 169,186 $ 169,186 $ 169,186 $ — $ — $ — Equity securities 11,737 11,737 11,737 — — — Available-for-sale 2,114,129 2,114,129 — 2,112,626 1,503 — Held-to-maturity 1,020,934 1,020,743 — 1,020,195 548 — Net loans 7,607,333 7,422,825 — — 7,422,825 — Loans held for sale 8,994 8,994 — 8,994 — — Other assets—interest rate derivatives 4,650 4,650 — 4,650 — — Accrued interest receivable 38,853 38,853 38,853 — — — Financial Liabilities Deposits 8,831,633 8,836,390 7,376,023 1,460,367 — — Federal Home Loan Bank borrowings 1,054,174 1,051,401 — 1,051,401 — — Other borrowings 290,522 290,854 288,918 1,936 — — Subordinated debt and junior subordinated debt 189,842 174,448 — 174,448 — — Other liabilities—interest rate derivatives 5,081 5,081 — 5,081 — — Accrued interest payable 4,627 4,627 4,627 — — — Carrying Fair Value Fair Value Measurements at December 31, 2017 (in thousands) Quoted Prices in Significant Significant Investments Financial Assets Cash and due from banks $ 117,572 $ 117,572 $ 117,572 $ — $ — $ — Equity securities 13,457 13,457 11,391 — — 2,066 Available-for-sale 1,261,865 1,261,865 — 1,261,865 — — Held-to-maturity 1,009,500 1,023,784 — 1,023,191 593 — Net loans 6,296,157 6,212,823 — — 6,212,823 — Loans held for sale 20,320 20,320 — 20,320 — — Other assets—interest rate derivatives 7,351 7,351 — 7,351 — — Accrued interest receivable 29,728 29,728 29,728 — — — Financial Liabilities Deposits 7,043,588 7,053,536 5,766,531 1,287,005 — — Federal Home Loan Bank borrowings 948,203 944,706 — 944,706 — — Other borrowings 184,805 184,814 182,785 2,029 — — Subordinated debt and junior subordinated debt 164,327 146,484 — 146,484 — — Other liabilities—interest rate derivatives 7,345 7,345 — 7,345 — — Accrued interest payable 3,178 3,178 3,178 — — — |
Comprehensive Income_(Loss) (Ta
Comprehensive Income/(Loss) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income | The activity in accumulated other comprehensive income for the years ended December 31, 2018, 2017 and 2016 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (in thousands) Defined Unrealized Gains Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2017 $ (18,626 ) $ (13,250 ) $ 381 $ (31,495 ) Other comprehensive income/(loss) before reclassifications (4,277 ) (7,220 ) — (11,497 ) Acquired FFKT post-retirement medical benefit plan 4,235 — — 4,235 Amounts reclassified from accumulated other comprehensive income/(loss) 2,126 11 (188 ) 1,949 Period change 2,084 (7,209 ) (188 ) (5,313 ) Adoption of Accounting Standard ASU 2016-01 (2) — (1,063 ) — (1,063 ) Balance at December 31, 2018 $ (16,542 ) $ (21,522 ) $ 193 $ (37,871 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Other comprehensive income/(loss) before reclassifications 239 (985 ) — (746 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,194 (27 ) (209 ) 1,958 Period change 2,433 (1,012 ) (209 ) 1,212 Adoption of accounting standard ASU 2018-02 (3,301 ) (2,348 ) 68 (5,581 ) Balance at December 31, 2017 $ (18,626 ) $ (13,250 ) $ 381 $ (31,495 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Other comprehensive income/(loss) before reclassifications (2,112 ) (4,300 ) — (6,412 ) Amounts reclassified from accumulated other comprehensive income/(loss) 1,893 (1,428 ) (225 ) 240 Period change (219 ) (5,728 ) (225 ) (6,172 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) (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 23% in 2018 and 37% in all prior periods. (2) See Note 1, Summary of Significant Policies for additional information about WesBanco’s adoption of ASU 2016-01. |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss) | Details about Accumulated Other Comprehensive Amounts Reclassified from Affected Line Item in the Statement of Net (in thousands) 2018 2017 2016 Securities available-for-sale Net securities losses (gains) reclassified into earnings $ 15 $ (42 ) $ (2,251 ) Net securities gains (Non-interest Related income tax (benefit) expense (4 ) 15 823 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 11 (27 ) (1,428 ) Securities held-to-maturity Amortization of unrealized gain transferred from available-for-sale (244 ) (326 ) (357 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 56 117 132 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (188 ) (209 ) (225 ) Defined benefit plans (2): Amortization of net loss and prior service costs 2,948 3,247 3,046 Employee benefits (Non-interest Related income tax benefit (822 ) (1,053 ) (1,153 ) Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 2,126 2,194 1,893 Total reclassifications for the period $ 1,949 $ 1,958 $ 240 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 13, “Employee Benefit Plans” for additional detail. |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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) 2018 2017 Lines of credit $ 1,894,030 $ 1,452,697 Loans approved but not closed 258,778 245,644 Overdraft limits 153,572 126,671 Letters of credit 42,841 31,951 Contingent obligations and other guarantees 61,509 6,700 |
Condensed Parent Company Fina_2
Condensed Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
WBCDC [Member] | |
Schedule of Condensed Balance Sheet | BALANCE SHEET (in thousands) December 31, Assets Cash and due from banks $ 42,711 Loans, net of allowance for loan losses of $261 29,502 Investments 1,441 Other assets 75 Total Assets $ 73,729 Liabilities $ 206 Shareholder Equity 73,523 Total Liabilities and Shareholder Equity $ 73,729 |
Schedule of Condensed Income Statement | STATEMENT OF INCOME (in thousands) For the year ended Interest income Loans $ 1,103 Other 3 Total interest income 1,106 Provision for loan losses 7 Net interest income after provision for loan losses 1,099 Gain on investments 621 Non-interest 276 Income before provision for income taxes 1,444 Provision for income taxes 333 Net income $ 1,111 |
Schedule of Condensed Cash Flow Statement | STATEMENT OF CASH FLOWS (in thousands) For the year ended Operating Activities Net income $ 1,111 Provision for loan losses 7 Gain on investments (621 ) Net change in other assets 120 Net change in other liabilities (148 ) Net cash provided by operating activities 469 Investing Activities Decrease in loans 5,709 Net cash provided by investing activities 5,709 Financing Activities Qualified equity investment by parent company — Net cash provided by financing activities — Net increase in cash and cash equivalents 6,178 Cash and cash equivalents at beginning of year 36,533 Cash and cash equivalents at end of year $ 42,711 |
Parent Company [Member] | |
Schedule of Condensed Balance Sheet | BALANCE SHEETS December 31, (in thousands) 2018 2017 ASSETS Cash and short-term investments $ 121,857 $ 75,911 Investment in subsidiaries—Bank 1,991,452 1,431,021 Investment in subsidiaries—Nonbank 12,322 7,755 Securities available-for-sale, 1,212 2,687 Other assets 33,159 28,614 Total Assets $ 2,160,002 $ 1,545,988 LIABILITIES Junior subordinated debt owed to unconsolidated subsidiary trusts $ 164,356 $ 138,564 Dividends payable and other liabilities 16,819 12,103 Total Liabilities 181,175 150,667 SHAREHOLDERS’ EQUITY 1,978,827 1,395,321 Total Liabilities and Shareholders’ Equity $ 2,160,002 $ 1,545,988 |
Schedule of Condensed Income Statement | STATEMENTS OF INCOME For the years ended December 31, (in thousands) 2018 2017 2016 Dividends from subsidiaries—Bank $ 86,000 $ 72,000 $ 85,000 Dividends from subsidiaries—Nonbank 486 2,520 800 Income from securities 24 73 75 Other income 900 203 147 Total income 87,410 74,796 86,022 Interest expense 7,551 6,032 4,136 Other expense 7,940 4,004 5,628 Total expense 15,491 10,036 9,764 Income before income tax benefit and undistributed net income of subsidiaries 71,919 64,760 76,258 Income tax benefit (3,739 ) (4,726 ) (3,149 ) Income before undistributed net income of subsidiaries 75,658 69,486 79,407 Equity in undistributed net income of subsidiaries 67,454 24,996 7,228 NET INCOME $ 143,112 $ 94,482 $ 86,635 |
Schedule of Condensed Cash Flow Statement | 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) 2018 2017 2016 OPERATING ACTIVITIES Net income $ 143,112 $ 94,482 $ 86,635 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income (67,454 ) (24,996 ) (7,228 ) (Increase) Decrease in other assets (3,612 ) 566 14,679 Net securities losses 36 — — Other—net 4,988 2,848 2,094 Net cash provided by operating activities 77,070 72,900 96,180 INVESTING ACTIVITIES Proceed from sales—securities available-for-sale 1,511 — — Purchase of securities—securities available-for-sale — (200 ) — Acquisitions and additional capitalization of subsidiaries, net of cash acquired (paid) 37,309 — (43,199 ) Net cash provided (used in) by investing activities 38,820 (200 ) (43,199 ) FINANCING ACTIVITIES Repayment of junior subordinated debt (17,519 ) — — Issuance of common stock 1,578 1,040 1,713 Treasury shares purchased—net (426 ) — (3,026 ) Dividends paid to common and preferred shareholders (53,577 ) (44,864 ) (37,805 ) Net cash used in financing activities (69,944 ) (43,824 ) (39,118 ) Net increase in cash and cash equivalents 45,946 28,876 13,863 Cash and short-term investments at beginning of year 75,911 47,035 33,172 Cash and short-term investments at end of year $ 121,857 $ 75,911 $ 47,035 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 December 31, 2017 (dollars in thousands) Minimum Well Amount Ratio Minimum Amount Ratio Minimum WesBanco, Inc. Tier 1 leverage 4.00 % 5.00 % $ 1,258,605 10.74 % $ 468,824 $ 970,425 10.39 % $ 373,566 Common equity Tier 1 4.50 % 6.50 % 1,096,105 13.14 % 375,254 834,554 12.14 % 309,298 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 1,258,605 15.09 % 500,338 970,425 14.12 % 412,397 Total capital to risk-weighted assets 8.00 % 10.00 % 1,333,503 15.99 % 667,118 1,042,124 15.16 % 549,863 WesBanco Bank, Inc. Tier 1 leverage 4.00 % 5.00 % $ 1,108,600 9.48 % $ 467,939 $ 869,227 9.32 % $ 372,900 Common equity Tier 1 4.50 % 6.50 % 1,108,600 13.30 % 375,117 869,227 12.66 % 308,900 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 1,108,600 13.30 % 500,156 869,227 12.66 % 411,866 Total capital to risk-weighted assets 8.00 % 10.00 % 1,183,498 14.20 % 666,874 940,303 13.70 % 549,155 (1) Minimum requirements to remain adequately capitalized. (2) Well-capitalized under prompt corrective action regulations. |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Financial Information by Business Segment | Condensed financial information by business segment is presented below: (in thousands) Community Trust and Consolidated For the year ended December 31, 2018: Interest and dividend income $ 414,957 $ — $ 414,957 Interest expense 67,721 — 67,721 Net interest income 347,236 — 347,236 Provision for credit losses 7,764 — 7,764 Net interest income after provision for credit losses 339,472 — 339,472 Non-interest 75,653 24,623 100,276 Non-interest 250,338 14,886 265,224 Income before provision for income taxes 164,787 9,737 174,524 Provision for income taxes 29,367 2,045 31,412 Net income $ 135,420 $ 7,692 $ 143,112 For the year ended December 31, 2017: Interest and dividend income $ 332,424 $ — $ 332,424 Interest expense 42,129 — 42,129 Net interest income 290,295 — 290,295 Provision for credit losses 9,986 — 9,986 Net interest income after provision for credit losses 280,309 — 280,309 Non-interest 66,100 22,740 88,840 Non-interest 207,441 13,419 220,860 Income before provision for income taxes 138,968 9,321 148,289 Provision for income taxes 50,079 3,728 53,807 Net income $ 88,889 $ 5,593 $ 94,482 For the year ended December 31, 2016: Interest and dividend income $ 286,097 $ — $ 286,097 Interest expense 32,767 — 32,767 Net interest income 253,330 — 253,330 Provision for credit losses 8,478 — 8,478 Net interest income after provision for credit losses 244,852 — 244,852 Non-interest 59,869 21,630 81,499 Non-interest 196,784 11,896 208,680 Income before provision for income taxes 107,937 9,734 117,671 Provision for income taxes 27,142 3,894 31,036 Net income $ 80,795 $ 5,840 $ 86,635 |
Condensed Quarterly Statement_2
Condensed Quarterly Statements of Income (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and 2017. 2018 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 86,417 $ 98,888 $ 108,393 $ 121,387 $ 414,957 Interest expense 13,125 16,541 18,460 19,620 67,721 Net interest income 73,292 82,347 89,933 101,767 347,236 Provision for credit losses 2,168 1,708 1,035 2,854 7,764 Net interest income after provision for credit losses 71,124 80,639 88,898 98,913 339,472 Non-interest 24,019 23,050 26,140 27,864 101,176 Net securities (losses) gains (39 ) 358 84 (1,303 ) (900 ) Non-interest 54,571 63,543 76,120 70,990 265,224 Income before provision for income taxes 40,533 40,504 39,002 54,484 174,524 Provision for income taxes 7,004 7,335 6,516 10,556 31,412 Net income $ 33,529 $ 33,169 $ 32,486 $ 43,928 $ 143,112 Earnings per common share—basic $ 0.76 $ 0.71 $ 0.65 $ 0.80 $ 2.93 Earnings per common share—diluted $ 0.76 $ 0.71 $ 0.64 $ 0.80 $ 2.92 2017 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 79,924 $ 82,160 $ 85,489 $ 84,851 $ 332,424 Interest expense 9,205 10,021 11,235 11,669 42,129 Net interest income 70,719 72,139 74,254 73,182 290,295 Provision for credit losses 2,711 2,383 2,516 2,376 9,986 Net interest income after provision for credit losses 68,008 69,756 71,738 70,806 280,309 Non-interest 22,872 21,628 20,893 22,878 88,273 Net securities gains 12 494 6 56 567 Non-interest 54,384 55,884 55,754 54,837 220,860 Income before provision for income taxes 36,508 35,994 36,883 38,903 148,289 Provision for income taxes 10,622 9,653 10,527 23,006 53,807 Net income $ 25,886 $ 26,341 $ 26,356 $ 15,897 $ 94,482 Earnings per common share—basic $ 0.59 $ 0.60 $ 0.60 $ 0.36 $ 2.15 Earnings per common share—diluted $ 0.59 $ 0.60 $ 0.60 $ 0.36 $ 2.14 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) | Jan. 01, 2018USD ($) | Dec. 31, 2018USD ($)BranchesProperty | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jan. 01, 2019USD ($) |
Summary Of Significant Accounting Policies [Line Items] | |||||
Number of branches | Branches | 209 | ||||
Number of ATM | Property | 202 | ||||
Wholly-owned trust subsidiaries | Property | 13 | ||||
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 | ||||
Service cost component of defined benefit plan | $ 2,835,000 | $ 2,578,000 | $ 2,799,000 | ||
Non service benefit component of defined benefit plan | 1,500,000 | ||||
Capitalized right of use asset and lease liabilities to be regcognize upon adoption of ASU | $ 20,000,000 | ||||
Accounting Standards Update 2016-01 [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Adjustment to retained earnings | $ 1,100,000 | ||||
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 | ||||
Municipal Debt Securities [Member] | Subsequent Event [Member] | Accounting Standards Update 2017-12 [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Reclassification of callable held-to-maturity securities | $ 67,300,000 | ||||
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) - USD ($) $ / shares in Units, $ in Thousands | Aug. 20, 2018 | Apr. 05, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Total Assets | $ 12,458,632 | $ 9,816,178 | ||
Portfolio loans, net of unearned income | 7,656,281 | $ 6,341,441 | ||
First Sentry Bancshares, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Total Assets | $ 704,800 | |||
Portfolio loans, net of unearned income | 447,300 | |||
Securities | 142,903 | |||
Value of acquisition | $ 108,322 | |||
Closing stock price | $ 42.96 | |||
Number of shares issued for acquisition | 2,498,761 | |||
Cash paid for acquisition | $ 975 | |||
Goodwill acquired | 67,699 | 67,699 | ||
Purchase price allocation in core deposit intangible | $ 8,078 | |||
Merger related expense | 5,500 | |||
Farmers Capital Bank Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Total Assets | $ 1,600,000 | |||
Portfolio loans, net of unearned income | 1,000,000 | |||
Securities | 239,321 | |||
Value of acquisition | $ 428,901 | |||
Closing stock price | $ 49.40 | |||
Number of shares issued for acquisition | 7,920,387 | |||
Cash paid for acquisition | $ 37,634 | |||
Goodwill acquired | 220,240 | 220,240 | ||
Purchase price allocation in core deposit intangible | 39,992 | |||
Merger related expense | $ 12,400 | |||
Farmers Capital Bank Corporation [Member] | Community Banking Segment [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 220,200 | |||
Purchase price allocation in core deposit intangible | 37,400 | |||
Farmers Capital Bank Corporation [Member] | Trust and Investment Services [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Purchase price allocation in core deposit intangible | $ 2,600 |
Mergers and Acquisitions - Summ
Mergers and Acquisitions - Summary of Purchase Price of Acquisition and Resulting Goodwill (Detail) - USD ($) $ in Thousands | Aug. 20, 2018 | Apr. 05, 2018 | Dec. 31, 2018 |
First Sentry Bancshares, Inc. [Member] | |||
Purchase Price: | |||
Fair value of WesBanco shares issued | $ 107,347 | ||
Cash consideration for outstanding shares | 975 | ||
Total purchase price | 108,322 | ||
Fair value of: | |||
Tangible assets acquired | 609,593 | ||
Core deposit and other intangible assets acquired | 8,078 | ||
Liabilities assumed | (664,172) | ||
Net cash received in the acquisition | 87,124 | ||
Fair value of net assets acquired | 40,623 | ||
Goodwill recognized | $ 67,699 | $ 67,699 | |
Farmers Capital Bank Corporation [Member] | |||
Purchase Price: | |||
Fair value of WesBanco shares issued | $ 391,267 | ||
Cash consideration for outstanding shares | 37,634 | ||
Total purchase price | 428,901 | ||
Fair value of: | |||
Tangible assets acquired | 1,368,314 | ||
Core deposit and other intangible assets acquired | 39,992 | ||
Liabilities assumed | (1,429,784) | ||
Net cash received in the acquisition | 230,139 | ||
Fair value of net assets acquired | 208,661 | ||
Goodwill recognized | $ 220,240 | $ 220,240 |
Mergers and Acquisitions - Allo
Mergers and Acquisitions - Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||||
Dec. 31, 2018 | Sep. 30, 2018 | Aug. 20, 2018 | Apr. 05, 2018 | Dec. 31, 2017 | |
Liabilities | |||||
Goodwill recognized | $ 861,900 | $ 573,900 | |||
First Sentry Bancshares, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash and due from banks | $ 87,124 | ||||
Securities | 142,903 | ||||
Loans | 447,279 | ||||
Goodwill and other intangible assets | 75,777 | ||||
Accrued income and other assets | 19,411 | ||||
Total assets acquired | 772,494 | ||||
Liabilities | |||||
Deposits | 590,065 | ||||
Borrowings | 70,710 | ||||
Accrued expenses and other liabilities | 3,397 | ||||
Total liabilities assumed | 664,172 | ||||
Net assets acquired | 108,322 | ||||
Fair value of net assets acquired | $ 40,623 | ||||
First Sentry Bancshares, Inc. [Member] | Purchase Price Allocation Adjustment [Member] | |||||
Business Acquisition [Line Items] | |||||
Loans | (796) | ||||
Accrued income and other assets | (54) | ||||
Liabilities | |||||
Fair value of net assets acquired | (850) | ||||
Increase (decrease) in goodwill recognized | 850 | ||||
Goodwill recognized | 67,699 | $ 66,849 | |||
Farmers Capital Bank Corporation [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash and due from banks | $ 230,139 | ||||
Securities | 239,321 | ||||
Loans | 1,025,776 | ||||
Goodwill and other intangible assets | 260,232 | ||||
Accrued income and other assets | 103,217 | ||||
Total assets acquired | 1,858,685 | ||||
Liabilities | |||||
Deposits | 1,330,328 | ||||
Borrowings | 71,780 | ||||
Accrued expenses and other liabilities | 27,676 | ||||
Total liabilities assumed | 1,429,784 | ||||
Net assets acquired | 428,901 | ||||
Fair value of net assets acquired | $ 208,661 | ||||
Farmers Capital Bank Corporation [Member] | Purchase Price Allocation Adjustment [Member] | |||||
Business Acquisition [Line Items] | |||||
Loans | (2,344) | ||||
Goodwill and other intangible assets | (2,601) | ||||
Accrued income and other assets | 9,707 | ||||
Liabilities | |||||
Accrued expenses and other liabilities | (90) | ||||
Fair value of net assets acquired | 4,852 | ||||
Increase (decrease) in goodwill recognized | (4,852) | ||||
Goodwill recognized | $ 220,240 | $ 225,092 |
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator for both basic and diluted earnings per common share: | |||||||||||
Net income | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | $ 143,112 | $ 94,482 | $ 86,635 |
Denominator: | |||||||||||
Total average basic common shares outstanding | 48,889,041 | 44,003,208 | 40,100,320 | ||||||||
Effect of dilutive stock options and other stock compensation | 133,949 | 72,085 | 26,756 | ||||||||
Total diluted average common shares outstanding | 49,022,990 | 44,075,293 | 40,127,076 | ||||||||
Earnings per common share-basic | $ 0.80 | $ 0.65 | $ 0.71 | $ 0.76 | $ 0.36 | $ 0.60 | $ 0.60 | $ 0.59 | $ 2.93 | $ 2.15 | $ 2.16 |
Earnings per common share-diluted | $ 0.80 | $ 0.64 | $ 0.71 | $ 0.76 | $ 0.36 | $ 0.60 | $ 0.60 | $ 0.59 | $ 2.92 | $ 2.14 | $ 2.16 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | Aug. 20, 2018 | Apr. 05, 2018 | Sep. 09, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Shares contingently issuable under shareholder return plan | 42,864 | |||||
Stock Option [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Securities excluded from computation of net income per diluted shares | 117,600 | 0 | 95,700 | |||
Restricted Stock [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Shares contingently issuable under shareholder return plan | 17,081 | 8,325 | ||||
First Sentry Bancshares, Inc. [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares granted to employees | 9,465 | |||||
Number of shares issued for acquisition | 2,498,761 | |||||
Your Community Bankshares, Inc [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares issued for acquisition | 5,423,348 | |||||
Your Community Bankshares, Inc [Member] | Treasury Stock [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares granted to employees | 109,257 | |||||
Farmers Capital Bank Corporation [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares granted to employees | 18,685 | |||||
Number of shares issued for acquisition | 7,920,387 | |||||
Farmers Capital Bank Corporation [Member] | Treasury Stock [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares granted to employees | 6,690 |
Securities - Schedule of Fair V
Securities - Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Debt Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | $ 2,142,056 | $ 1,280,585 |
Available-for-sale, Gross Unrealized Gains | 5,861 | 3,397 |
Available-for-sale, Gross Unrealized Losses | (33,788) | (22,117) |
Available-for-sale, Estimated Fair Value | 2,114,129 | 1,261,865 |
Held-to-maturity, Amortized Cost | 1,020,934 | 1,009,500 |
Held-to-maturity, Gross Unrealized Gains | 8,993 | 18,827 |
Held-to-maturity, Gross Unrealized Losses | (9,184) | (4,543) |
Held-to-maturity securities, Fair value | 1,020,743 | 1,023,784 |
Total securities, Amortized Cost | 3,162,990 | 2,290,085 |
Total securities, Gross Unrealized Gains | 14,854 | 22,224 |
Total securities, Gross Unrealized Losses | (42,972) | (26,660) |
Total securities, Estimated Fair Value | 3,134,872 | 2,285,649 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 142,852 | 72,425 |
Available-for-sale, Gross Unrealized Gains | 556 | 24 |
Available-for-sale, Gross Unrealized Losses | (1,756) | (606) |
Available-for-sale, Estimated Fair Value | 141,652 | 71,843 |
Held-to-maturity, Amortized Cost | 10,823 | 11,465 |
Held-to-maturity, Gross Unrealized Gains | 6 | |
Held-to-maturity, Gross Unrealized Losses | (329) | (325) |
Held-to-maturity securities, Fair value | 10,500 | 11,140 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 1,585,864 | 954,115 |
Available-for-sale, Gross Unrealized Gains | 2,912 | 214 |
Available-for-sale, Gross Unrealized Losses | (27,521) | (19,407) |
Available-for-sale, Estimated Fair Value | 1,561,255 | 934,922 |
Held-to-maturity, Amortized Cost | 148,300 | 170,025 |
Held-to-maturity, Gross Unrealized Gains | 204 | 544 |
Held-to-maturity, Gross Unrealized Losses | (4,170) | (2,609) |
Held-to-maturity securities, Fair value | 144,334 | 167,960 |
Obligations of State and Political Subdivisions [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 184,057 | 102,363 |
Available-for-sale, Gross Unrealized Gains | 2,039 | 2,927 |
Available-for-sale, Gross Unrealized Losses | (982) | (460) |
Available-for-sale, Estimated Fair Value | 185,114 | 104,830 |
Held-to-maturity, Amortized Cost | 828,520 | 794,655 |
Held-to-maturity, Gross Unrealized Gains | 8,771 | 17,364 |
Held-to-maturity, Gross Unrealized Losses | (4,012) | (1,609) |
Held-to-maturity securities, Fair value | 833,279 | 810,410 |
Corporate Debt Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 37,730 | 35,234 |
Available-for-sale, Gross Unrealized Gains | 87 | 228 |
Available-for-sale, Gross Unrealized Losses | (559) | (59) |
Available-for-sale, Estimated Fair Value | 37,258 | 35,403 |
Held-to-maturity, Amortized Cost | 33,291 | 33,355 |
Held-to-maturity, Gross Unrealized Gains | 12 | 919 |
Held-to-maturity, Gross Unrealized Losses | (673) | |
Held-to-maturity securities, Fair value | 32,630 | 34,274 |
US Treasury Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 19,882 | |
Available-for-sale, Gross Unrealized Gains | 3 | |
Available-for-sale, Gross Unrealized Losses | (7) | |
Available-for-sale, Estimated Fair Value | 19,878 | |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 171,671 | 116,448 |
Available-for-sale, Gross Unrealized Gains | 264 | 4 |
Available-for-sale, Gross Unrealized Losses | (2,963) | (1,585) |
Available-for-sale, Estimated Fair Value | $ 168,972 | $ 114,867 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2018USD ($)Holdings | Dec. 31, 2017USD ($)Holdings | Dec. 31, 2016USD ($) | |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Maximum percentage of equity of one issuer | 10.00% | ||
Number of holdings greater than specified percentage of equity | Holdings | 0 | 0 | |
Equities securities | $ 11,737,000 | $ 13,457,000 | |
Securities with aggregate fair values | 2,000,000,000 | 1,400,000,000 | |
Net unrealized losses on available-for-sale debt securities included in AOCI | 21,500,000 | 13,300,000 | $ 9,900,000 |
Sales of available-for-sale debt securities | 82,100,000 | 7,800,000 | $ 277,200,000 |
Impairment loss relating to securities | 0 | ||
Federal home loan bank stock, Total | 50,800,000 | $ 45,900,000 | |
Grantor Trusts [Member] | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Equities securities | $ 7,700,000 |
Securities - Schedule of Fair_2
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | $ 32,835 | |
Total available-for-sale securities, One to Five Years | 87,009 | |
Total available-for-sale securities, Five to Ten Years | 102,458 | |
Total available-for-sale securities, After Ten Years | 60,234 | |
Total available-for-sale securities, Mortgage-backed | 1,831,593 | |
Available-for-sale, Estimated Fair Value | 2,114,129 | $ 1,261,865 |
Total held-to-maturity securities, One Year or less | 6,913 | |
Total held-to-maturity securities, One to Five Years | 152,693 | |
Total held-to-maturity securities, Five to Ten Years | 423,149 | |
Total held-to-maturity securities, After Ten Years | 283,154 | |
Total held-to-maturity securities, Mortgage-backed | 154,834 | |
Held-to-maturity securities, Fair value | 1,020,743 | 1,023,784 |
Total, One Year or less | 39,748 | |
Total, One to Five Years | 239,702 | |
Total, Five to Ten Years | 525,607 | |
Total, After Ten Years, Fair value | 343,388 | |
Total, Mortgage-backed | 1,986,427 | |
Total, Fair value | 3,134,872 | 2,285,649 |
US Treasury Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 19,878 | |
Available-for-sale, Estimated Fair Value | 19,878 | |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 493 | |
Total available-for-sale securities, One to Five Years | 5,878 | |
Total available-for-sale securities, Five to Ten Years | 18,159 | |
Total available-for-sale securities, After Ten Years | 15,756 | |
Total available-for-sale securities, Mortgage-backed | 101,366 | |
Available-for-sale, Estimated Fair Value | 141,652 | 71,843 |
Total held-to-maturity securities, Mortgage-backed | 10,500 | |
Held-to-maturity securities, Fair value | 10,500 | 11,140 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed | 1,561,255 | |
Available-for-sale, Estimated Fair Value | 1,561,255 | 934,922 |
Total held-to-maturity securities, Mortgage-backed | 144,334 | |
Held-to-maturity securities, Fair value | 144,334 | 167,960 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed | 168,972 | |
Available-for-sale, Estimated Fair Value | 168,972 | 114,867 |
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 | 9,784 | |
Total available-for-sale securities, One to Five Years | 48,457 | |
Total available-for-sale securities, Five to Ten Years | 82,395 | |
Total available-for-sale securities, After Ten Years | 44,478 | |
Available-for-sale, Estimated Fair Value | 185,114 | 104,830 |
Total held-to-maturity securities, One Year or less | 6,913 | |
Total held-to-maturity securities, One to Five Years | 145,238 | |
Total held-to-maturity securities, Five to Ten Years | 397,974 | |
Total held-to-maturity securities, After Ten Years | 283,154 | |
Held-to-maturity securities, Fair value | 833,279 | 810,410 |
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 | 2,680 | |
Total available-for-sale securities, One to Five Years | 32,674 | |
Total available-for-sale securities, Five to Ten Years | 1,904 | |
Available-for-sale, Estimated Fair Value | 37,258 | 35,403 |
Total held-to-maturity securities, One to Five Years | 7,455 | |
Total held-to-maturity securities, Five to Ten Years | 25,175 | |
Held-to-maturity securities, Fair value | $ 32,630 | $ 34,274 |
Securities - Schedule of Fair_3
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Debt Securities by Contractual Maturity (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Held-to-maturity, Amortized Cost | $ 1,020,934 | $ 1,009,500 |
Securities - Schedule of Gross
Securities - Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities as well as Gains and Losses on Equity Securities as well as Result of the Adoption of the ASU 2016-01 (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | |||
Net securities (losses) gains | $ (900) | $ 567 | $ 2,357 |
Debt Securities [Member] | |||
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | |||
Gross realized gains | 128 | 675 | 2,638 |
Gross realized losses | (46) | (108) | (281) |
Net gains on debt securities | 82 | $ 567 | $ 2,357 |
Equity Securities [Member] | |||
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | |||
Unrealized losses recognized on securities still held | (986) | ||
Net realized gains recognized on securities sold | 4 | ||
Net losses on equity securities | $ (982) |
Securities - Schedule of Unreal
Securities - Schedule of Unrealized Losses on Debt Securities (Detail) $ in Thousands | Dec. 31, 2018USD ($)Security | Dec. 31, 2017USD ($)Security |
US Treasury Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 9,972 | |
Less than 12 months, Unrealized Losses | $ (7) | |
Less than 12 months, Number of Securities | Security | 1 | |
Fair Value, Total | $ 9,972 | |
Unrealized Losses, Total | $ (7) | |
Number of Securities Total | Security | 1 | |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 18,926 | $ 24,776 |
Less than 12 months, Unrealized Losses | $ (148) | $ (160) |
Less than 12 months, Number of Securities | Security | 8 | 4 |
12 months or more, Fair Value | $ 76,385 | $ 42,248 |
12 months or more, Unrealized Losses | $ (1,937) | $ (771) |
12 months or more, Number of Securities | Security | 14 | 8 |
Fair Value, Total | $ 95,311 | $ 67,024 |
Unrealized Losses, Total | $ (2,085) | $ (931) |
Number of Securities Total | Security | 22 | 12 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 285,534 | $ 423,794 |
Less than 12 months, Unrealized Losses | $ (1,862) | $ (5,039) |
Less than 12 months, Number of Securities | Security | 44 | 87 |
12 months or more, Fair Value | $ 922,698 | $ 637,461 |
12 months or more, Unrealized Losses | $ (29,829) | $ (16,977) |
12 months or more, Number of Securities | Security | 291 | 193 |
Fair Value, Total | $ 1,208,232 | $ 1,061,255 |
Unrealized Losses, Total | $ (31,691) | $ (22,016) |
Number of Securities Total | Security | 335 | 280 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 9,186 | $ 79,061 |
Less than 12 months, Unrealized Losses | $ (18) | $ (1,089) |
Less than 12 months, Number of Securities | Security | 6 | 10 |
12 months or more, Fair Value | $ 111,068 | $ 27,852 |
12 months or more, Unrealized Losses | $ (2,945) | $ (496) |
12 months or more, Number of Securities | Security | 14 | 6 |
Fair Value, Total | $ 120,254 | $ 106,913 |
Unrealized Losses, Total | $ (2,963) | $ (1,585) |
Number of Securities Total | Security | 20 | 16 |
Obligations of State and Political Subdivisions [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 104,469 | $ 132,831 |
Less than 12 months, Unrealized Losses | $ (439) | $ (852) |
Less than 12 months, Number of Securities | Security | 207 | 210 |
12 months or more, Fair Value | $ 303,681 | $ 77,554 |
12 months or more, Unrealized Losses | $ (4,555) | $ (1,217) |
12 months or more, Number of Securities | Security | 513 | 160 |
Fair Value, Total | $ 408,150 | $ 210,385 |
Unrealized Losses, Total | $ (4,994) | $ (2,069) |
Number of Securities Total | Security | 720 | 370 |
Corporate Debt Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 38,791 | $ 4,015 |
Less than 12 months, Unrealized Losses | $ (898) | $ (19) |
Less than 12 months, Number of Securities | Security | 18 | 1 |
12 months or more, Fair Value | $ 11,452 | $ 1,948 |
12 months or more, Unrealized Losses | $ (334) | $ (40) |
12 months or more, Number of Securities | Security | 5 | 1 |
Fair Value, Total | $ 50,243 | $ 5,963 |
Unrealized Losses, Total | $ (1,232) | $ (59) |
Number of Securities Total | Security | 23 | 2 |
Total Temporarily Impaired Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 466,878 | $ 664,477 |
Less than 12 months, Unrealized Losses | $ (3,372) | $ (7,159) |
Less than 12 months, Number of Securities | Security | 284 | 312 |
12 months or more, Fair Value | $ 1,425,284 | $ 787,063 |
12 months or more, Unrealized Losses | $ (39,600) | $ (19,501) |
12 months or more, Number of Securities | Security | 837 | 368 |
Fair Value, Total | $ 1,892,162 | $ 1,451,540 |
Unrealized Losses, Total | $ (42,972) | $ (26,660) |
Number of Securities Total | Security | 1,121 | 680 |
Loans and the Allowance for C_3
Loans and the Allowance for Credit Losses - Additional Information (Detail) | Aug. 20, 2018USD ($) | Apr. 05, 2018USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract |
Financing Receivable, Recorded Investment [Line Items] | ||||||
Net Deferred loan (costs) and fees | $ 3,200,000 | $ 3,200,000 | $ 1,600,000 | |||
Unamortized discount on purchased loans from acquisitions | 49,300,000 | 49,300,000 | 21,900,000 | |||
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 22,900,000 | 22,900,000 | 22,800,000 | |||
Internally assigned loan grades to residential real estate, home equity and consumer loans | 3,900,000 | 3,900,000 | 2,500,000 | |||
Loans acquired with deteriorated credit quality | 9,741,000 | $ 9,741,000 | $ 8,074,000 | |||
Number of restructured contracts greater than $0 million | Contract | 0 | 0 | ||||
Threshold for TDR | 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||
Accruing and non accrual TDR permitted interest-only payment period | 3 months | |||||
Unfunded commitments to debtors for impaired loans | 100,000 | $ 100,000 | 100,000 | |||
Other real estate owned | 7,173,000 | 7,173,000 | 5,195,000 | |||
Commercial and Industrial [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans acquired with deteriorated credit quality | 900,000 | 900,000 | 783,000 | |||
Maximum [Member] | Commercial and Industrial [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Annual sales of borrowers | 100,000,000 | |||||
First Sentry Bancshares, Inc. [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Unamortized discount on purchased loans from acquisitions | 9,700,000 | 9,700,000 | ||||
Portfolio loans, net of unearned income | $ 465,900,000 | |||||
Fair value of acquired loans | 447,279,000 | |||||
Fair market value adjustment of acquired loans | 429,300,000 | |||||
Fair market value adjustment of acquired loans | 9,700,000 | |||||
Loans acquired with deteriorated credit quality | 5,100,000 | 1,800,000 | 1,800,000 | |||
Loans acquired with deteriorated credit quality, fair value | 2,300,000 | |||||
Loans acquired with deteriorated credit quality outstanding customer balance | 4,700,000 | 4,700,000 | ||||
Acquired loans, sold book value | $ 21,700,000 | |||||
Acquired loans, sold | $ 15,700,000 | |||||
First Sentry Bancshares, Inc. [Member] | Cost Recovery Method [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans acquired with deteriorated credit quality, fair value | $ 700,000 | |||||
Farmers Capital Bank Corporation [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Unamortized discount on purchased loans from acquisitions | 23,400,000 | 23,400,000 | ||||
Portfolio loans, net of unearned income | $ 1,064,800,000 | |||||
Fair value of acquired loans | 1,025,776,000 | |||||
Fair market value adjustment of acquired loans | 990,500,000 | |||||
Fair market value adjustment of acquired loans | 26,400,000 | |||||
Loans acquired with deteriorated credit quality | 2,700,000 | 1,700,000 | 1,700,000 | |||
Loans acquired with deteriorated credit quality, fair value | $ 2,400,000 | |||||
Loans acquired with deteriorated credit quality outstanding customer balance | 2,000,000 | 2,000,000 | ||||
Acquired loans, sold book value | 45,200,000 | |||||
Acquired loans, sold | 32,900,000 | |||||
Acquired impaired loans allowances for loan losses | 0 | 0 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans acquired with deteriorated credit quality | 2,430,000 | 2,430,000 | 714,000 | |||
Other real estate owned | 1,300,000 | 1,300,000 | 1,500,000 | |||
Foreclosure proceedings in process on residential real estate loans | $ 6,000,000 | $ 6,000,000 | $ 3,500,000 |
Loans and the Allowance for C_4
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 7,656,281 | $ 6,341,441 |
Loans held for sale | 8,994 | 20,320 |
Total loans | 7,665,275 | 6,361,761 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 528,072 | 392,597 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 3,325,623 | 2,601,851 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,265,460 | 1,125,327 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 3,853,695 | 2,994,448 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,611,607 | 1,353,301 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 326,188 | 339,169 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 599,331 | $ 529,196 |
Loans and the Allowance for C_5
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | $ 45,284 | $ 43,674 | $ 45,284 | $ 43,674 | $ 41,710 | ||||||
Allowance for loan commitments, beginning balance | 574 | 571 | 574 | 571 | 613 | ||||||
Total beginning allowance for credit losses | 45,858 | 44,245 | 45,858 | 44,245 | 42,323 | ||||||
Provision for loan losses | 7,597 | 9,983 | 8,520 | ||||||||
Provision for loan commitments | 167 | 3 | (42) | ||||||||
Total provision for credit losses | $ 2,854 | $ 1,035 | $ 1,708 | 2,168 | $ 2,376 | $ 2,516 | $ 2,383 | 2,711 | 7,764 | 9,986 | 8,478 |
Charge-offs | (10,567) | (12,689) | (10,853) | ||||||||
Recoveries | 6,634 | 4,316 | 4,297 | ||||||||
Net recoveries (charge-offs) | (3,933) | (8,373) | (6,556) | ||||||||
Allowance for loan losses, ending balance | 48,948 | 45,284 | 48,948 | 45,284 | 43,674 | ||||||
Allowance for loan commitments, ending balance | 741 | 574 | 741 | 574 | 571 | ||||||
Total ending allowance for credit losses | 49,689 | 45,858 | 49,689 | 45,858 | 44,245 | ||||||
Commercial Real Estate - Land and Construction [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 3,117 | 4,348 | 3,117 | 4,348 | 4,390 | ||||||
Allowance for loan commitments, beginning balance | 119 | 151 | 119 | 151 | 157 | ||||||
Total beginning allowance for credit losses | 3,236 | 4,499 | 3,236 | 4,499 | 4,547 | ||||||
Provision for loan losses | 650 | (1,259) | 26 | ||||||||
Provision for loan commitments | 50 | (32) | (6) | ||||||||
Total provision for credit losses | 700 | (1,291) | 20 | ||||||||
Charge-offs | (137) | (72) | (73) | ||||||||
Recoveries | 409 | 100 | 5 | ||||||||
Net recoveries (charge-offs) | 272 | 28 | (68) | ||||||||
Allowance for loan losses, ending balance | 4,039 | 3,117 | 4,039 | 3,117 | 4,348 | ||||||
Allowance for loan commitments, ending balance | 169 | 119 | 169 | 119 | 151 | ||||||
Total ending allowance for credit losses | 4,208 | 3,236 | 4,208 | 3,236 | 4,499 | ||||||
Commercial Real Estate - Improved Property [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 21,166 | 18,628 | 21,166 | 18,628 | 14,748 | ||||||
Allowance for loan commitments, beginning balance | 26 | 17 | 26 | 17 | 26 | ||||||
Total beginning allowance for credit losses | 21,192 | 18,645 | 21,192 | 18,645 | 14,774 | ||||||
Provision for loan losses | (521) | 4,386 | 4,223 | ||||||||
Provision for loan commitments | 7 | 9 | (9) | ||||||||
Total provision for credit losses | (514) | 4,395 | 4,214 | ||||||||
Charge-offs | (1,090) | (2,381) | (1,886) | ||||||||
Recoveries | 1,293 | 533 | 1,543 | ||||||||
Net recoveries (charge-offs) | 203 | (1,848) | (343) | ||||||||
Allowance for loan losses, ending balance | 20,848 | 21,166 | 20,848 | 21,166 | 18,628 | ||||||
Allowance for loan commitments, ending balance | 33 | 26 | 33 | 26 | 17 | ||||||
Total ending allowance for credit losses | 20,881 | 21,192 | 20,881 | 21,192 | 18,645 | ||||||
Commercial and Industrial [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 9,414 | 8,412 | 9,414 | 8,412 | 10,002 | ||||||
Allowance for loan commitments, beginning balance | 173 | 188 | 173 | 188 | 260 | ||||||
Total beginning allowance for credit losses | 9,587 | 8,600 | 9,587 | 8,600 | 10,262 | ||||||
Provision for loan losses | 3,430 | 2,733 | 1,160 | ||||||||
Provision for loan commitments | 89 | (15) | (72) | ||||||||
Total provision for credit losses | 3,519 | 2,718 | 1,088 | ||||||||
Charge-offs | (1,830) | (2,669) | (3,070) | ||||||||
Recoveries | 1,100 | 938 | 320 | ||||||||
Net recoveries (charge-offs) | (730) | (1,731) | (2,750) | ||||||||
Allowance for loan losses, ending balance | 12,114 | 9,414 | 12,114 | 9,414 | 8,412 | ||||||
Allowance for loan commitments, ending balance | 262 | 173 | 262 | 173 | 188 | ||||||
Total ending allowance for credit losses | 12,376 | 9,587 | 12,376 | 9,587 | 8,600 | ||||||
Deposit Overdraft [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 821 | 760 | 821 | 760 | 342 | ||||||
Total beginning allowance for credit losses | 821 | 760 | 821 | 760 | 342 | ||||||
Provision for loan losses | 1,146 | 1,001 | 1,077 | ||||||||
Total provision for credit losses | 1,146 | 1,001 | 1,077 | ||||||||
Charge-offs | (1,374) | (1,293) | (884) | ||||||||
Recoveries | 379 | 353 | 225 | ||||||||
Net recoveries (charge-offs) | (995) | (940) | (659) | ||||||||
Allowance for loan losses, ending balance | 972 | 821 | 972 | 821 | 760 | ||||||
Total ending allowance for credit losses | 972 | 821 | 972 | 821 | 760 | ||||||
Residential Real Estate [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 3,206 | 4,106 | 3,206 | 4,106 | 4,582 | ||||||
Allowance for loan commitments, beginning balance | 7 | 9 | 7 | 9 | 7 | ||||||
Total beginning allowance for credit losses | 3,213 | 4,115 | 3,213 | 4,115 | 4,589 | ||||||
Provision for loan losses | 1,612 | (175) | 16 | ||||||||
Provision for loan commitments | 5 | (2) | 2 | ||||||||
Total provision for credit losses | 1,617 | (177) | 18 | ||||||||
Charge-offs | (1,435) | (1,064) | (937) | ||||||||
Recoveries | 439 | 339 | 445 | ||||||||
Net recoveries (charge-offs) | (996) | (725) | (492) | ||||||||
Allowance for loan losses, ending balance | 3,822 | 3,206 | 3,822 | 3,206 | 4,106 | ||||||
Allowance for loan commitments, ending balance | 12 | 7 | 12 | 7 | 9 | ||||||
Total ending allowance for credit losses | 3,834 | 3,213 | 3,834 | 3,213 | 4,115 | ||||||
Consumer [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 3,063 | 3,998 | 3,063 | 3,998 | 4,763 | ||||||
Allowance for loan commitments, beginning balance | 37 | 44 | 37 | 44 | 46 | ||||||
Total beginning allowance for credit losses | 3,100 | 4,042 | 3,100 | 4,042 | 4,809 | ||||||
Provision for loan losses | 1,142 | 1,231 | 1,356 | ||||||||
Provision for loan commitments | 2 | (7) | (2) | ||||||||
Total provision for credit losses | 1,144 | 1,224 | 1,354 | ||||||||
Charge-offs | (3,508) | (3,989) | (3,606) | ||||||||
Recoveries | 2,100 | 1,823 | 1,485 | ||||||||
Net recoveries (charge-offs) | (1,408) | (2,166) | (2,121) | ||||||||
Allowance for loan losses, ending balance | 2,797 | 3,063 | 2,797 | 3,063 | 3,998 | ||||||
Allowance for loan commitments, ending balance | 39 | 37 | 39 | 37 | 44 | ||||||
Total ending allowance for credit losses | 2,836 | 3,100 | 2,836 | 3,100 | 4,042 | ||||||
Home Equity [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 4,497 | 3,422 | 4,497 | 3,422 | 2,883 | ||||||
Allowance for loan commitments, beginning balance | 212 | 162 | 212 | 162 | 117 | ||||||
Total beginning allowance for credit losses | $ 4,709 | $ 3,584 | 4,709 | 3,584 | 3,000 | ||||||
Provision for loan losses | 138 | 2,066 | 662 | ||||||||
Provision for loan commitments | 14 | 50 | 45 | ||||||||
Total provision for credit losses | 152 | 2,116 | 707 | ||||||||
Charge-offs | (1,193) | (1,221) | (397) | ||||||||
Recoveries | 914 | 230 | 274 | ||||||||
Net recoveries (charge-offs) | (279) | (991) | (123) | ||||||||
Allowance for loan losses, ending balance | 4,356 | 4,497 | 4,356 | 4,497 | 3,422 | ||||||
Allowance for loan commitments, ending balance | 226 | 212 | 226 | 212 | 162 | ||||||
Total ending allowance for credit losses | $ 4,582 | $ 4,709 | $ 4,582 | $ 4,709 | $ 3,584 |
Loans and the Allowance for C_6
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | $ 388 | |||
Allowance for loans collectively evaluated for impairment | $ 48,948 | 44,896 | ||
Allowance for loan commitments | 741 | 574 | $ 571 | $ 613 |
Total allowance for credit losses | 49,689 | 45,858 | 44,245 | 42,323 |
Individually evaluated for impairment | 3,344 | |||
Collectively evaluated for impairment | 7,646,540 | 6,330,023 | ||
Acquired with deteriorated credit quality | 9,741 | 8,074 | ||
Total loans | 7,656,281 | 6,341,441 | ||
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,039 | 3,117 | ||
Allowance for loan commitments | 169 | 119 | 151 | 157 |
Total allowance for credit losses | 4,208 | 3,236 | 4,499 | 4,547 |
Collectively evaluated for impairment | 527,737 | 391,140 | ||
Acquired with deteriorated credit quality | 335 | 1,457 | ||
Total loans | 528,072 | 392,597 | ||
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 388 | |||
Allowance for loans collectively evaluated for impairment | 20,848 | 20,778 | ||
Allowance for loan commitments | 33 | 26 | 17 | 26 |
Total allowance for credit losses | 20,881 | 21,192 | 18,645 | 14,774 |
Individually evaluated for impairment | 3,344 | |||
Collectively evaluated for impairment | 3,319,672 | 2,593,393 | ||
Acquired with deteriorated credit quality | 5,951 | 5,114 | ||
Total loans | 3,325,623 | 2,601,851 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 12,114 | 9,414 | ||
Allowance for loan commitments | 262 | 173 | 188 | 260 |
Total allowance for credit losses | 12,376 | 9,587 | 8,600 | 10,262 |
Collectively evaluated for impairment | 1,264,560 | 1,124,544 | ||
Acquired with deteriorated credit quality | 900 | 783 | ||
Total loans | 1,265,460 | 1,125,327 | ||
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 972 | 821 | ||
Total allowance for credit losses | 972 | 821 | 760 | 342 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 3,822 | 3,206 | ||
Allowance for loan commitments | 12 | 7 | 9 | 7 |
Total allowance for credit losses | 3,834 | 3,213 | 4,115 | 4,589 |
Collectively evaluated for impairment | 1,609,177 | 1,352,587 | ||
Acquired with deteriorated credit quality | 2,430 | 714 | ||
Total loans | 1,611,607 | 1,353,301 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 2,797 | 3,063 | ||
Allowance for loan commitments | 39 | 37 | 44 | 46 |
Total allowance for credit losses | 2,836 | 3,100 | 4,042 | 4,809 |
Collectively evaluated for impairment | 326,063 | 339,163 | ||
Acquired with deteriorated credit quality | 125 | 6 | ||
Total loans | 326,188 | 339,169 | ||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,356 | 4,497 | ||
Allowance for loan commitments | 226 | 212 | 162 | 117 |
Total allowance for credit losses | 4,582 | 4,709 | $ 3,584 | $ 3,000 |
Collectively evaluated for impairment | 599,331 | 529,196 | ||
Total loans | $ 599,331 | $ 529,196 |
Loans and the Allowance for C_7
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Receivables [Abstract] | ||
Troubled debt restructuring threshold | $ 1 | $ 1 |
Loans and the Allowance for C_8
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Summary of commercial loans by risk grade | ||
Commercial loans | $ 7,607,333 | $ 6,296,157 |
Commercial Portfolio Segment [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 5,119,155 | 4,119,775 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 5,036,201 | 4,045,825 |
Commercial Portfolio Segment [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 51,710 | 36,092 |
Commercial Portfolio Segment [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 31,244 | 37,858 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 528,072 | 392,597 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 523,707 | 386,753 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,297 | 2,984 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,068 | 2,860 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,325,623 | 2,601,851 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,267,304 | 2,548,805 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 35,566 | 25,673 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 22,753 | 27,373 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,265,460 | 1,125,327 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,245,190 | 1,110,267 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 13,847 | 7,435 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | $ 6,423 | $ 7,625 |
Loans and the Allowance for C_9
Loans and the Allowance for Credit Losses - Summary of Changes in Accretable Yield for Loans Acquired for Prior Acquisitions with Deteriorated Credit Quality (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $ 1,724 | $ 1,717 |
Acquisitions | 885 | |
Reduction due to change in projected cash flows | (776) | |
Reclass from non-accretable | 7,052 | 1,719 |
Transfers | (216) | |
Accretion | (2,682) | (1,496) |
Balance at end of period | $ 6,203 | $ 1,724 |
Loans and the Allowance for _10
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Current | $ 7,610,687 | $ 6,299,397 |
Total Past Due | 45,594 | 42,044 |
Total loans | 7,656,281 | 6,341,441 |
90 Days or More Past Due and Accruing | 4,077 | 2,726 |
Loans held for sale, current | 8,994 | 20,320 |
Loans held for sale | 8,994 | 20,320 |
Total loans, current | 7,619,681 | 6,319,717 |
Total loans | 7,665,275 | 6,361,761 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 591,623 | 522,584 |
Total Past Due | 7,708 | 6,612 |
Total loans | 599,331 | 529,196 |
90 Days or More Past Due and Accruing | 705 | 742 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 3,841,425 | 2,981,893 |
Total Past Due | 12,270 | 12,555 |
Total loans | 3,853,695 | 2,994,448 |
90 Days or More Past Due and Accruing | 175 | 243 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,593,519 | 1,338,240 |
Total Past Due | 18,088 | 15,061 |
Total loans | 1,611,607 | 1,353,301 |
90 Days or More Past Due and Accruing | 2,820 | 1,113 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 322,584 | 334,723 |
Total Past Due | 3,604 | 4,446 |
Total loans | 326,188 | 339,169 |
90 Days or More Past Due and Accruing | 364 | 608 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 526,660 | 392,189 |
Total Past Due | 1,412 | 408 |
Total loans | 528,072 | 392,597 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 3,314,765 | 2,589,704 |
Total Past Due | 10,858 | 12,147 |
Total loans | 3,325,623 | 2,601,851 |
90 Days or More Past Due and Accruing | 175 | 243 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,261,536 | 1,121,957 |
Total Past Due | 3,924 | 3,370 |
Total loans | 1,265,460 | 1,125,327 |
90 Days or More Past Due and Accruing | 13 | 20 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 8,910 | 9,195 |
Total Past Due | 21,790 | 27,630 |
Total loans | 30,700 | 36,825 |
TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 5,586 | 6,055 |
Total Past Due | 158 | 516 |
Total loans | 5,744 | 6,571 |
Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 14,496 | 15,250 |
Total Past Due | 21,948 | 28,146 |
Total loans | 36,444 | 43,396 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 9,952 | 10,034 |
30-59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,500 | 2,135 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,328 | 374 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,717 | 4,487 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,084 | 2,466 |
30-59 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 62 | |
30-59 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,266 | 374 |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 323 | 572 |
30-59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 337 | 1,782 |
30-59 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 59 | 348 |
30-59 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 396 | 2,130 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 11,475 | 5,469 |
60-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,273 | 683 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,600 | 1,372 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 5,001 | 2,376 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,007 | 842 |
60-89 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,350 | 172 |
60-89 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,250 | 1,200 |
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 594 | 196 |
60-89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,370 | 2,033 |
60-89 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 92 | 168 |
60-89 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,462 | 2,201 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 24,167 | 26,541 |
90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,935 | 3,794 |
90 Days or More Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 6,342 | 10,809 |
90 Days or More Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 10,370 | 8,198 |
90 Days or More Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 513 | 1,138 |
90 Days or More Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 236 | |
90 Days or More Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 6,342 | 10,573 |
90 Days or More Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,007 | 2,602 |
90 Days or More Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 20,083 | 23,815 |
90 Days or More Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 7 | |
90 Days or More Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | $ 20,090 | $ 23,815 |
Loans and the Allowance for _11
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Past due loans excluded TDRs past due and accruing | 90 days |
Loans and the Allowance for _12
Loans and the Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | $ 45,688 | $ 50,124 | |
Total impaired loans, Unpaid principal balance | 45,688 | 52,229 | |
Recorded Investment, With no specific allowance recorded | 36,444 | 41,291 | |
Total impaired loans, Recorded investment | 36,444 | 43,396 | |
Unpaid Principal Balance, With a specific allowance recorded | 2,105 | ||
Recorded Investment, With a specific allowance recorded | 2,105 | ||
Related Allowance, With a specific allowance recorded | 388 | ||
Average recorded investment, with no related specific allowance | 38,781 | 38,204 | $ 34,741 |
Interest income recognized, With no related specific allowance | 665 | 722 | 460 |
Average recorded investment, With a specific allowance recorded | 842 | 4,700 | 6,226 |
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 |
Total impaired loans, Average recorded investment | 39,623 | 42,904 | 40,967 |
Total impaired loans, Interest income recognized | 665 | 722 | 460 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 20,270 | 20,821 | |
Recorded Investment, With no specific allowance recorded | 18,016 | 18,982 | |
Average recorded investment, with no related specific allowance | 19,026 | 17,991 | 17,021 |
Interest income recognized, With no related specific allowance | 240 | 252 | 308 |
Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 846 | 1,084 | |
Recorded Investment, With no specific allowance recorded | 671 | 952 | |
Average recorded investment, with no related specific allowance | 808 | 787 | 909 |
Interest income recognized, With no related specific allowance | 7 | 7 | 8 |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 5,924 | 5,833 | |
Recorded Investment, With no specific allowance recorded | 5,036 | 5,169 | |
Average recorded investment, with no related specific allowance | 5,005 | 4,599 | 3,502 |
Interest income recognized, With no related specific allowance | 25 | 19 | 20 |
Commercial Real Estate - Land and Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 412 | ||
Recorded Investment, With no specific allowance recorded | 239 | ||
Average recorded investment, with no related specific allowance | 208 | 460 | 993 |
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 |
Commercial Real Estate - Improved Property [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 14,038 | 18,229 | |
Recorded Investment, With no specific allowance recorded | 9,293 | 12,863 | |
Unpaid Principal Balance, With a specific allowance recorded | 2,105 | ||
Recorded Investment, With a specific allowance recorded | 2,105 | ||
Related Allowance, With a specific allowance recorded | 388 | ||
Average recorded investment, with no related specific allowance | 10,658 | 10,790 | 9,128 |
Interest income recognized, With no related specific allowance | 381 | 436 | 115 |
Average recorded investment, With a specific allowance recorded | 842 | 4,446 | 3,012 |
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 |
Commercial and Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 4,610 | 3,745 | |
Recorded Investment, With no specific allowance recorded | 3,428 | 3,086 | |
Average recorded investment, with no related specific allowance | 3,076 | 3,577 | 3,188 |
Interest income recognized, With no related specific allowance | 12 | 8 | 9 |
Average recorded investment, With a specific allowance recorded | 254 | 3,214 | |
Interest income recognized, With a specific allowance recorded | $ 0 | $ 0 | $ 0 |
Loans and the Allowance for _13
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | $ 30,700 | $ 36,825 |
TDRs | 8,599 | 9,436 |
Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 5,744 | 6,571 |
Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,855 | 2,865 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 239 | |
TDRs | 3 | |
Commercial Real Estate - Land and Construction [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 3 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 8,413 | 13,318 |
TDRs | 2,409 | 2,078 |
Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 880 | 1,650 |
Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,529 | 428 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 3,260 | 2,958 |
TDRs | 337 | 225 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 168 | 128 |
Commercial and Industrial [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 169 | 97 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 4,610 | 4,762 |
TDRs | 624 | 744 |
Home Equity [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 426 | 407 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 198 | 337 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 8,413 | 13,557 |
TDRs | 2,409 | 2,081 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 880 | 1,650 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,529 | 431 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 13,831 | 14,661 |
TDRs | 5,106 | 6,201 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 4,185 | 4,321 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 921 | 1,880 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 586 | 887 |
TDRs | 123 | 185 |
Consumer [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 85 | 65 |
Consumer [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ 38 | $ 120 |
Loans and the Allowance for _14
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Parenthetical) (Detail) | Dec. 31, 2018USD ($)Borrowers | Dec. 31, 2017USD ($)Borrowers |
Receivables [Abstract] | ||
Number of borrowers with loans greater than one million | Borrowers | 1 | 3 |
Borrowers with large amount of loans outstanding, minimum amount of loans per borrower | $ 1,000,000 | $ 1,000,000 |
Borrowers with large amount of loans outstanding, net | $ 3,400,000 | $ 6,800,000 |
Loans and the Allowance for _15
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 17 | 13 |
Pre-Modification Outstanding Recorded Investment | $ 1,455 | $ 664 |
Post-Modification Outstanding Recorded Investment | $ 1,316 | $ 617 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 837 | $ 345 |
Post-Modification Outstanding Recorded Investment | $ 805 | $ 331 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 4 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 240 | $ 64 |
Post-Modification Outstanding Recorded Investment | $ 188 | $ 58 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 837 | $ 345 |
Post-Modification Outstanding Recorded Investment | $ 805 | $ 331 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 4 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 218 | $ 144 |
Post-Modification Outstanding Recorded Investment | $ 190 | $ 137 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 5 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 69 | $ 43 |
Post-Modification Outstanding Recorded Investment | $ 49 | $ 30 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 91 | $ 68 |
Post-Modification Outstanding Recorded Investment | $ 84 | $ 61 |
Loans and the Allowance for _16
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)Defaults | Dec. 31, 2017USD ($)Defaults | |
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | 3 |
Recorded Investment | $ | $ 109 | $ 135 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | 2 |
Recorded Investment | $ | $ 109 | $ 128 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 7 |
Loans and the Allowance for _17
Loans and the Allowance for Credit Losses - Recognition of Interest Income on Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Receivables [Abstract] | |||
Average impaired loans | $ 39,623 | $ 42,904 | $ 40,967 |
Amount of contractual interest income on impaired loans | 2,631 | 3,089 | 2,747 |
Amount of interest income recognized on impaired loans | $ 665 | $ 722 | $ 460 |
Loans and the Allowance for _18
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||
Other real estate owned | $ 7,173 | $ 5,195 |
Repossessed assets | 92 | 102 |
Total other real estate owned and repossessed assets | $ 7,265 | $ 5,297 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Abstract] | ||
Land and improvements | $ 55,986 | $ 41,209 |
Buildings and improvements | 167,044 | 141,960 |
Furniture and equipment | 76,870 | 75,816 |
Total cost | 299,900 | 258,985 |
Accumulated depreciation and amortization | (132,975) | (128,263) |
Total premises and equipment, net | $ 166,925 | $ 130,722 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense charged | $ 10.5 | $ 10.4 | $ 9.2 |
Rent expense under leases | $ 4.5 | $ 4.2 | $ 3.5 |
Premises and Equipment - Future
Premises and Equipment - Future Minimum Lease Payments Under Non-cancellable Leases (Detail) | Dec. 31, 2018USD ($) |
Property, Plant and Equipment [Abstract] | |
2,019 | $ 4,822,000 |
2,020 | 4,329,000 |
2,021 | 3,976,000 |
2,022 | 3,177,000 |
2,023 | 3,231,000 |
2024 and thereafter | 15,891,000 |
Total | $ 35,426,000 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | Aug. 20, 2018 | Apr. 05, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Goodwill | $ 861,900 | $ 573,900 | |||
Other intangible assets | 56,966 | 15,318 | |||
Amortization of core deposit and customer list intangible assets | 6,400 | 4,100 | $ 2,900 | ||
Goodwill, impairment loss | 0 | ||||
Amortization of intangible assets | 6,980 | 4,940 | 3,598 | ||
Amortization expense expected to be recognized in year one | 9,569 | ||||
First Sentry Bancshares, Inc. [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Goodwill acquired | $ 67,699 | 67,699 | |||
First Sentry Bancshares, Inc. [Member] | Core Deposits [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Intangible assets acquired | 8,100 | ||||
Farmers Capital Bank Corporation [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Goodwill acquired | $ 220,240 | 220,240 | |||
Farmers Capital Bank Corporation [Member] | Core Deposits [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Intangible assets acquired | 40,000 | ||||
YCB and ESB [Member] | Noncompete Agreements [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Amortization of intangible assets | 600 | $ 900 | $ 700 | ||
Amortization expense expected to be recognized in year one | $ 200 | ||||
Minimum [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Intangible asset, useful life | 10 years | ||||
Minimum [Member] | YCB and ESB [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] | YCB and ESB [Member] | Noncompete Agreements [Member] | |||||
Intangible Assets Goodwill And Other Assets [Line Items] | |||||
Intangible asset, useful life | 4 years |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - WesBanco's Capitalized Other Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Other intangible assets: | ||
Gross carrying amount | $ 85,796 | $ 37,725 |
Accumulated amortization | (28,830) | (22,407) |
Net carrying amount of other intangible assets | $ 56,966 | $ 15,318 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Schedule of Future Amortization on Intangible Assets (Detail) $ in Thousands | Dec. 31, 2018USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,019 | $ 9,569 |
2,020 | 8,537 |
2,021 | 7,449 |
2,022 | 6,614 |
2,023 | $ 5,660 |
Investments in Limited Partne_2
Investments in Limited Partnerships - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($)Partnership | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Schedule of Investments [Line Items] | |||||||||||
Partnerships losses and impairment | $ (900) | ||||||||||
Tax benefits including low-income housing and historic tax credits | $ 10,556 | $ 6,516 | $ 7,335 | $ 7,004 | $ 23,006 | $ 10,527 | $ 9,653 | $ 10,622 | $ 31,412 | $ 53,807 | 31,036 |
Partnerships losses and impairment | $ 2,100 | 1,500 | |||||||||
Number of limited partnerships held | Partnership | 8 | ||||||||||
Equity Method Investments [Member] | Accounting Standards Update 2014-01 [Member] | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Tax benefits including low-income housing and historic tax credits | $ 2,100 | (1,600) | (800) | ||||||||
Other Liabilities [Member] | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Unfunded equity commitments in other liabilities | 13,000 | 10,700 | 13,000 | 10,700 | |||||||
Limited Liability Company [Member] | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Amount invested in partnerships | 6,600 | 5,400 | 6,600 | 5,400 | |||||||
Partnership gains (losses) under equity method | 712 | 47 | $ 19 | ||||||||
Variable Interest Entity, Not Primary Beneficiary [Member] | Other Assets [Member] | |||||||||||
Schedule of Investments [Line Items] | |||||||||||
Amount invested in partnerships | $ 21,300 | $ 15,600 | $ 21,300 | $ 15,600 |
Certificates of Deposit - Addit
Certificates of Deposit - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |||
Certificates of deposit in denominations of $100 thousand or more | $ 684.6 | $ 581.6 | |
Interest expense on certificates of deposit of $100 thousand or more | $ 8.3 | $ 4.4 | $ 5 |
Certificates of Deposit - Sched
Certificates of Deposit - Schedule of Maturities of Total Certificates of Deposit (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
2,019 | $ 821,939 | |
2,020 | 307,282 | |
2,021 | 150,149 | |
2,022 | 76,360 | |
2,023 | 56,171 | |
2024 and thereafter | 43,709 | |
Total | $ 1,455,610 | $ 1,277,057 |
FHLB and Other Short-Term Bor_3
FHLB and Other Short-Term Borrowings - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Borrowings | $ 1,054,174,000 | $ 948,203,000 |
Weighted-average interest rate | 2.35% | 1.57% |
FHLB stock owned by WesBanco pledged as collateral on these advances | $ 50,800,000 | $ 45,900,000 |
Remaining maximum borrowing capacity | 2,300,000,000 | 1,800,000,000 |
Other short term borrowings | 290,522,000 | 184,805,000 |
Securities sold under agreements to repurchase | 290,500,000 | 159,800,000 |
Federal funds purchased | $ 0 | $ 25,000,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Securities sold under agreements to repurchase, weighted average interest rate | 1.36% | 0.67% |
Federal Funds Purchased [Member] | ||
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Securities sold under agreements to repurchase, interest rate | 1.60% | |
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Revolving line of credit, maximum aggregate unsecured borrowings | $ 25,000,000 | |
Initiation date of revolving credit facility | Sep. 30, 2018 | |
Revolving line of credit, outstanding balance | $ 0 | $ 0 |
FHLB and Other Short-Term Bor_4
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, 2018 | Dec. 31, 2017 |
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract] | ||
2,019 | $ 488,561 | |
2,020 | 405,828 | |
2,021 | 140,192 | |
2,022 | 17,830 | |
2,023 | 0 | |
2024 and thereafter | 1,763 | |
Total | $ 1,054,174 | $ 948,203 |
2,019 | 2.04% | |
2,020 | 2.54% | |
2,021 | 2.82% | |
2,022 | 2.91% | |
2,023 | 0.00% | |
2024 and thereafter | 1.41% | |
Total | 2.35% |
Subordinated Debt and Junior _3
Subordinated Debt and Junior Subordinated Debt - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | |
Trust Preferred Securities [Line Items] | |||
Description of deferment period for payment of interest on junior subordinated debt under trust | 20 consecutive quarterly periods | ||
Your Community Bankshares, Inc [Member] | |||
Trust Preferred Securities [Line Items] | |||
Subordinated debt outstanding | $ 25.5 | ||
Trust preferred securities and junior subordinated debt redemption price | $ 8.2 | ||
Your Community Bankshares, Inc [Member] | Subordinated Debt [Member] | |||
Trust Preferred Securities [Line Items] | |||
Debt maturity date | Dec. 15, 2025 | ||
Fixed interest rate | 6.25% | ||
Debt callable date | Dec. 15, 2020 | ||
Variable rate based on the three-month LIBOR plus | 4.59% | ||
Debt Instrument, Description of Variable Rate Basis | 3-month LIBOR | ||
First Sentry Bancshares, Inc. [Member] | |||
Trust Preferred Securities [Line Items] | |||
Trust preferred securities and junior subordinated debt redemption price | $ 9.3 |
Subordinated Debt and Junior _4
Subordinated Debt and Junior Subordinated Debt - Schedule of Junior Subordinated Debt by Trusts (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 159,317 |
Common Securities | 5,039 |
Junior Subordinated Debt | 164,356 |
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 |
Community Bank Shares Statutory Trust I [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 6,382 |
Common Securities | 217 |
Junior Subordinated Debt | $ 6,599 |
Stated Maturity Date | Jun. 17, 2034 |
Optional Redemption Date | Jun. 17, 2014 |
Community Bank Shares Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 8,741 |
Common Securities | 310 |
Junior Subordinated Debt | $ 9,051 |
Stated Maturity Date | Jun. 15, 2036 |
Optional Redemption Date | Jun. 15, 2016 |
First Federal Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 8,694 |
Common Securities | 310 |
Junior Subordinated Debt | $ 9,004 |
Stated Maturity Date | Mar. 22, 2037 |
Optional Redemption Date | Mar. 15, 2017 |
Farmers Capital Bank Trust One [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 10,000 |
Common Securities | 310 |
Junior Subordinated Debt | $ 10,310 |
Stated Maturity Date | Sep. 30, 2035 |
Optional Redemption Date | Sep. 30, 2015 |
Farmers Capital Bank Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 22,500 |
Common Securities | 696 |
Junior Subordinated Debt | $ 23,196 |
Stated Maturity Date | Nov. 1, 2037 |
Optional Redemption Date | Nov. 1, 2017 |
Subordinated Debt and Junior _5
Subordinated Debt and Junior Subordinated Debt - Schedule of Junior Subordinated Debt by Trusts (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
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 | 5.95% |
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 | 5.92% |
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 | 5.44% |
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 | 5.44% |
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 | 4.56% |
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 | 4.84% |
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 | 4.74% |
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 | 4.40% |
Community Bank Shares Statutory Trust I [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 | 5.44% |
Community Bank Shares Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.70% |
Variable rate based on the three-month LIBOR plus, current rate | 4.49% |
First Federal Statutory Trust II [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 | 4.39% |
Farmers Capital Bank Trust One [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.50% |
Variable rate based on the three-month LIBOR plus, current rate | 4.30% |
Farmers Capital Bank Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.32% |
Variable rate based on the three-month LIBOR plus, current rate | 3.86% |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2018USD ($)Derivative | Dec. 31, 2017USD ($)Derivative | Dec. 31, 2016USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Aggregate notional amount | $ 229,800,000 | $ 298,200,000 | |
Net gain (loss) on change in fair value | 131,000 | $ (196,000) | $ 357,000 |
Collateral posted with market value on liability positions with credit risk-related contingent features | $ 3,900,000 | ||
Interest Rate Swaps [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Number of interest rate swaps | Derivative | 43 | 39 | |
Net gain (loss) on change in fair value | $ (400,000) | $ (400,000) | 500,000 |
Income (loss) on derivative instrument not designated hedges | $ 2,100,000 | $ 2,300,000 | $ 2,500,000 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Summary of Fair Values of Derivative Instruments on Balance Sheets (Detail) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | $ 229,800,000 | $ 298,200,000 |
Asset Derivatives | 4,775,000 | 7,400,000 |
Liability Derivatives | 5,315,000 | 7,368,000 |
Interest Rate Swaps [Member] | Loan Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 229,778,000 | 298,223,000 |
Asset Derivatives | 4,650,000 | 7,351,000 |
Liability Derivatives | 5,081,000 | 7,345,000 |
Interest Rate Loan Commitments [Member] | Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 16,113,000 | 20,319,000 |
Asset Derivatives | 125,000 | 49,000 |
Forward TBA Contracts [Member] | Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 20,000,000 | 31,750,000 |
Liability Derivatives | $ 234,000 | $ 23,000 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Summary of Effect of Derivative Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivatives, Fair Value [Line Items] | |||
Total gain (loss) on derivative financial instruments | $ 131 | $ (196) | $ 357 |
Interest Rate Swaps [Member] | Other Income [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total gain (loss) on derivative financial instruments | (437) | (391) | 495 |
Interest Rate Loan Commitments [Member] | Mortgage Banking Income [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total gain (loss) on derivative financial instruments | 125 | 172 | $ (138) |
Forward TBA Contracts [Member] | Mortgage Banking Income [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total gain (loss) on derivative financial instruments | $ 443 | $ 23 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | May 31, 2018 | Nov. 18, 2015 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Aug. 20, 2018 | Apr. 20, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Benefits bases on years of service and compensation, years | 5 years | |||||||
Future defined benefit plan estimated service and interest cost | $ 1,000,000 | |||||||
Future amortization of net loss | $ 3,100,000 | |||||||
Future net periodic pension costs | $ 26,000 | |||||||
Average remaining service period of unrecognized net losses | 8 years | |||||||
Maximum amount of pension plan invested | 5.00% | |||||||
Maximum common stock percentage of market value of investee | 5.00% | |||||||
Maximum percentage of investment in bonds or notes | 5.00% | |||||||
Maximum period for invested in bonds or notes issued | 20 years | |||||||
Number of equity shares | 55,300 | 55,300 | ||||||
Expected voluntary contribution for the year 2018 | $ 3,000,000 | |||||||
Contribution of pension fund | $ 2,500,000 | $ 5,000,000 | $ 5,800,000 | |||||
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 | $ 2,000,000 | $ 1,800,000 | $ 1,600,000 | |||||
Stock options granted to selected participants | 117,600 | |||||||
Stock options granted to selected participants exercise price per share | $ 45.65 | |||||||
Options grant expired | 7 years | |||||||
Total intrinsic value of options exercised | $ 900,000 | 700,000 | ||||||
Cash received from stock option exercised | 1,800,000 | 1,500,000 | ||||||
Tax benefit realized from stock options exercised | 200,000 | 300,000 | ||||||
Total intrinsic value of the outstanding shares | 1,100,000 | |||||||
Total intrinsic value of the shares exercisable | 1,100,000 | |||||||
Total Assets | 12,458,632,000 | 9,816,178,000 | ||||||
Pentegra Defined Benefit Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Spinning off of asset cost | 2,800,000 | |||||||
Shareholder Return Plan [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 | $ 200,000 | $ 100,000 | |||||
Expense recognition period | 2 years 7 months 6 days | |||||||
Number of shares granted | 12,000 | 12,000 | 12,000 | 0 | ||||
Restricted shares vesting period | 3 years | |||||||
Percentage of shares earned by participants | 200.00% | |||||||
Total shareholder return measurement period | 3 years | |||||||
Grant date fair value | $ 45.47 | |||||||
Total unrecognized compensation expense | $ 500,000 | |||||||
KSOP [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Shares held by KSOP | 451,674 | |||||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 3,700,000 | $ 3,300,000 | $ 2,800,000 | |||||
Future issuance under equity compensation plans | 384,770 | 415,052 | ||||||
Selected Participants Including Certain Executive Officers [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Stock options granted to selected participants | 117,600 | |||||||
Stock options granted to selected participants exercise price per share | $ 45.65 | |||||||
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 | $ 900,000 | $ 600,000 | 500,000 | |||||
Options grant expired | 7 years | 7 years | ||||||
Total unrecognized compensation expense related to non-vested stock option grants | $ 500,000 | |||||||
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 | $ 3,000,000 | $ 2,100,000 | $ 1,400,000 | |||||
Expense recognition period | 2 years 1 month 17 days | |||||||
Number of shares granted | 106,382 | |||||||
Fair value of restricted stock granted | $ 46.07 | |||||||
Total unrecognized compensation expense related to non-vested restricted stock grants | $ 5,700,000 | |||||||
Grant date fair value | $ 40.21 | $ 34.91 | ||||||
Equity Compensation Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Future issuance under equity compensation plans | 694,775 | 912,192 | ||||||
Additional ccommon stock for issuance | 1,000,000 | |||||||
Service Based Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares granted | 98,301 | |||||||
Fair value of restricted stock granted | $ 46.10 | |||||||
Restricted shares, dividends paid converted into additional shares | 70,151 | |||||||
Restricted shares, dividend unaccrued | 28,150 | |||||||
Voting rights accrue from date of issuance, shares granted | 70,151 | |||||||
Voting rights not accrue until vested shares granted | 28,150 | |||||||
Service Based Restricted Stock [Member] | 79616 Cliff Vesting [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Restricted shares vesting period | 36 months | |||||||
Service Based Restricted Stock [Member] | 18685 Cliff Vesting [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Restricted shares vesting period | 24 months | |||||||
Service Based Restricted Stock [Member] | 36 Months from Date of Grant [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares granted | 79,616 | |||||||
Service Based Restricted Stock [Member] | 24 Months from Date of Grant [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares granted | 18,685 | |||||||
Performance Based Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares granted | 8,081 | |||||||
Restricted shares vesting period | 3 years | |||||||
Performance Based Restricted Stock [Member] | Vesting on May 16, 2021 after the Completion of the Three-year Performance Period [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Vesting percentage | 50.00% | |||||||
Performance Based Restricted Stock [Member] | Vesting on May 16, 2022 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Vesting percentage | 50.00% | |||||||
Performance Based Restricted Stock [Member] | Maximum [Member] | National Peer Group of Financial Institutions [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Total Assets | $ 24,600,000,000 | |||||||
Performance Based Restricted Stock [Member] | Minimum [Member] | National Peer Group of Financial Institutions [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Total Assets | 10,500,000,000 | |||||||
Defined Benefit Plan, Equity Securities, Common Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Common stock fair market value | $ 2,000,000 | $ 2,200,000 | ||||||
Farmers Capital Bank Corporation [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Postretirement medical benefit plan | $ 15,000,000 | |||||||
Life of the plan | 17 years | |||||||
Defined benefit plan, Unrealized gain | $ 5,500,000 | |||||||
Total Assets | $ 1,600,000,000 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated benefit obligation at end of year | $ 120,445 | $ 119,559 | |
Change in projected benefit obligation: | |||
Projected benefit obligation at beginning of year | 130,307 | 115,458 | |
Service cost | 2,835 | 2,578 | $ 2,799 |
Interest cost | 4,517 | 4,393 | 5,094 |
Actuarial (gain) loss | 12,458 | (12,172) | |
Acquisition | 8,560 | ||
Benefits paid | (5,003) | (4,294) | |
Projected benefit obligation at end of year | 128,758 | 130,307 | 115,458 |
Change in fair value of plan assets: | |||
Fair value of plan assets at beginning of year | 142,422 | 121,597 | |
Actual return on plan assets | (5,587) | 20,119 | |
Employer contribution | 2,500 | 5,000 | 5,800 |
Acquisition | 6,776 | ||
Benefits paid | (5,003) | (4,294) | |
Fair value of plan assets at end of year | 141,108 | 142,422 | $ 121,597 |
Amounts recognized in the statement of financial position: | |||
Funded status | 12,351 | 12,115 | |
Net amounts recognized as receivable pension costs in the consolidated balance sheets | 12,351 | 12,115 | |
Amounts recognized in accumulated other comprehensive income consist of: | |||
Unrecognized prior service cost | 78 | 104 | |
Unrecognized net gain (loss) | 24,780 | 24,336 | |
Net amounts recognized in accumulated other comprehensive income (before tax) | $ 24,858 | $ 24,440 | |
Weighted average assumptions used to determine benefit obligations: | |||
Discount rate | 4.48% | 3.81% | |
Rate of compensation increase | 3.62% | 3.70% | |
Expected long-term return on assets | 6.30% | 6.30% | |
Farmers Capital Bank Corporation Postretirement Medical Benefit Plan [Member] | |||
Change in projected benefit obligation: | |||
Projected benefit obligation at beginning of year | $ 9,518 | ||
Interest cost | 138 | ||
Plan amendment | 2,135 | ||
Actuarial (gain) loss | (151) | ||
Participant contributions | 73 | ||
Benefits paid | (199) | ||
Projected benefit obligation at end of year | 11,514 | $ 9,518 | |
Amounts recognized in the statement of financial position: | |||
Funded status | (11,514) | ||
Unrecognized prior service cost | 0 | ||
Unrecognized net loss | 0 | ||
Net amounts recognized as receivable pension costs in the consolidated balance sheets | (11,514) | ||
Amounts recognized in accumulated other comprehensive income consist of: | |||
Unrecognized prior service cost | (3,240) | ||
Unrecognized net gain (loss) | (151) | ||
Net amounts recognized in accumulated other comprehensive income (before tax) | $ (3,391) | ||
Weighted average assumptions used to determine benefit obligations: | |||
Discount rate | 4.09% |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Components of net periodic benefit cost: | |||
Service cost-benefits earned during year | $ 2,835 | $ 2,578 | $ 2,799 |
Interest cost on projected benefit obligation | 4,517 | 4,393 | 5,094 |
Expected return on plan assets | (8,939) | (7,647) | (7,719) |
Amortization of prior service cost | 26 | 26 | 26 |
Amortization of net loss | 3,053 | 3,221 | 3,020 |
Net periodic pension cost | 1,492 | 2,571 | 3,220 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net (gain) loss for period | 2,068 | (300) | 3,329 |
Unrecognized loss on merged plan | 1,429 | ||
Amortization of prior service cost | (26) | (26) | (26) |
Amortization of net loss | (3,053) | (3,221) | (3,020) |
Amortization of prior service cost | (2,948) | (3,247) | (3,046) |
Total recognized in other comprehensive income | 418 | (3,547) | 283 |
Total recognized in net periodic pension cost and other comprehensive income | $ 1,910 | $ (976) | $ 3,503 |
Weighted-average assumptions used to determine net periodic pension cost: | |||
Discount rate | 3.81% | 4.46% | 4.74% |
Rate of compensation increase | 3.70% | 3.74% | 3.82% |
Expected long-term return on assets | 6.30% | 6.30% | 6.79% |
Farmers Capital Bank Corporation Postretirement Medical Benefit Plan [Member] | |||
Components of net periodic benefit cost: | |||
Interest cost on projected benefit obligation | $ 138 | ||
Amortization of prior service cost | (121) | ||
Net periodic pension cost | 17 | ||
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Prior service cost for period | 0 | ||
Net (gain) loss for period | (151) | ||
Amortization of prior service cost | 2,135 | ||
Amortization of prior service cost | 121 | ||
Total recognized in other comprehensive income | 2,105 | ||
Total recognized in net periodic pension cost and other comprehensive income | $ 2,122 | ||
Weighted-average assumptions used to determine net periodic pension cost: | |||
Discount rate | 4.05% |
Employee Benefit Plans - Summ_2
Employee Benefit Plans - Summary of Weighted-Average Asset Allocations by Asset Category (Detail) | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Total | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Total | 62.00% | 64.00% |
Equity Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation | 55.00% | |
Equity Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation | 75.00% | |
Debt Securities [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Total | 35.00% | 32.00% |
Debt Securities [Member] | Minimum [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation | 25.00% | |
Debt Securities [Member] | Maximum [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation | 55.00% | |
Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Total | 3.00% | 4.00% |
Cash and Cash Equivalents [Member] | Minimum [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation | 0.00% | |
Cash and Cash Equivalents [Member] | Maximum [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation | 5.00% |
Employee Benefit Plans - Fair V
Employee Benefit Plans - Fair Values of the WesBanco's Pension Plan Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | $ 141,108 | $ 142,400 |
Registered Investment Companies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 39,021 | 39,799 |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 60,127 | 64,128 |
Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 16,980 | 16,147 |
Municipal Obligations [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 2,930 | 3,004 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 22,050 | 19,322 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 99,148 | 103,927 |
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 | 39,021 | 39,799 |
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 | 60,127 | 64,128 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 41,960 | 38,473 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 16,980 | 16,147 |
Significant Other Observable Inputs (Level 2) [Member] | Municipal Obligations [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 2,930 | 3,004 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | $ 22,050 | $ 19,322 |
Employee Benefit Plans - Fair_2
Employee Benefit Plans - Fair Values of the WesBanco's Pension Plan Assets (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Compensation Related Costs [Abstract] | ||
Net assets available for benefits | $ 141.4 | $ 142.4 |
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, 2018USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,019 | $ 4,376 |
2,020 | 5,456 |
2,021 | 5,956 |
2,022 | 6,284 |
2,023 | 6,643 |
2024 to 2028 | 38,526 |
Farmers Capital Bank Corporation Postretirement Medical Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2,019 | 515 |
2,020 | 538 |
2,021 | 570 |
2,022 | 594 |
2,023 | 605 |
2024 to 2028 | $ 3,275 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Compensation Related Costs [Abstract] | |||
Weighted-average life | 5 years 2 months 12 days | 5 years 2 months 12 days | 5 years 1 month 6 days |
Risk-free interest rate | 2.95% | 1.91% | 1.43% |
Dividend yield | 2.54% | 2.67% | 2.97% |
Volatility factor | 21.27% | 21.47% | 23.92% |
Fair value of the grants | $ 8.54 | $ 6.02 | $ 5.09 |
Employee Benefit Plans - Summ_3
Employee Benefit Plans - Summary of Activity for the Stock Option Component of the Incentive Plan (Detail) | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Compensation Related Costs [Abstract] | |
Number of options, Outstanding at beginning of the year | shares | 336,688 |
Number of options, Granted during the year | shares | 117,600 |
Number of options, Exercised during the year | shares | (58,763) |
Number of options, Forfeited or expired during the year | shares | (1,900) |
Number of options, Outstanding at end of the year | shares | 393,625 |
Number of options, Exercisable at year end | shares | 334,825 |
Weighted average exercise price per share, Outstanding at beginning of the year | $ / shares | $ 33.20 |
Weighted average exercise price per share, Granted during the year | $ / shares | 45.65 |
Weighted average exercise price per share, Exercised during the year | $ / shares | 31.48 |
Weighted average exercise price per share, Forfeited or expired during the year | $ / shares | 37.17 |
Weighted average exercise price per share, Outstanding at end of the year | $ / shares | 37.15 |
Weighted average exercise price per share, Exercisable at year end | $ / shares | $ 35.66 |
Employee Benefit Plans - Summ_4
Employee Benefit Plans - Summary of Average Remaining Life of the Stock Options (Detail) | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 334,825 |
Exercise Price Range Per Share Minimum | $ 20.02 |
Exercise Price Range Per Share Maximum | $ 45.65 |
Options Outstanding | shares | 393,625 |
Weighted Average Exercise Price | $ 37.15 |
Weighted Avg. Remaining Contractual Life in Years | 4 years 9 months |
2012 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 6,000 |
Exercise Price Range Per Share Maximum | $ 20.02 |
Options Outstanding | shares | 6,000 |
Weighted Average Exercise Price | $ 20.02 |
Weighted Avg. Remaining Contractual Life in Years | 4 months 13 days |
2013 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 20,250 |
Exercise Price Range Per Share Maximum | $ 25 |
Options Outstanding | shares | 20,250 |
Weighted Average Exercise Price | $ 25 |
Weighted Avg. Remaining Contractual Life in Years | 1 year 4 months 13 days |
2014 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 32,350 |
Exercise Price Range Per Share Maximum | $ 28.79 |
Options Outstanding | shares | 32,350 |
Weighted Average Exercise Price | $ 28.79 |
Weighted Avg. Remaining Contractual Life in Years | 2 years 4 months 20 days |
2015 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 48,250 |
Exercise Price Range Per Share Maximum | $ 31.58 |
Options Outstanding | shares | 48,250 |
Weighted Average Exercise Price | $ 31.58 |
Weighted Avg. Remaining Contractual Life in Years | 3 years 5 months 1 day |
2016 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 61,850 |
Exercise Price Range Per Share Maximum | $ 32.37 |
Options Outstanding | shares | 61,850 |
Weighted Average Exercise Price | $ 32.37 |
Weighted Avg. Remaining Contractual Life in Years | 4 years 4 months 24 days |
Stock Option Plan Two Thousand And Seventeen [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 107,325 |
Exercise Price Range Per Share Maximum | $ 38.88 |
Options Outstanding | shares | 107,325 |
Weighted Average Exercise Price | $ 38.88 |
Weighted Avg. Remaining Contractual Life in Years | 5 years 4 months 6 days |
Stock Option Plan Two Thousand And Eighteen [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 58,800 |
Exercise Price Range Per Share Maximum | $ 45.65 |
Options Outstanding | shares | 117,600 |
Weighted Average Exercise Price | $ 45.65 |
Weighted Avg. Remaining Contractual Life in Years | 6 years 4 months 17 days |
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, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Restricted Stock Beginning Balance | shares | 208,390 |
Restricted Stock, Granted | shares | 106,382 |
Restricted Stock, Vested | shares | (50,301) |
Restricted Stock, Forfeited | shares | (6,565) |
Restricted Stock, Dividend reinvestment | shares | 5,551 |
Restricted Stock Ending Balance | shares | 263,457 |
Weighted Average Grant Date Fair Value Per Share Beginning Balance | $ / shares | $ 34.91 |
Weighted Average Grant Date Fair Value Per Share, Granted | $ / shares | 46.07 |
Weighted Average Grant Date Fair Value Per Share, Vested | $ / shares | 31.92 |
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares | 32.88 |
Weighted Average Grant Date Fair Value Per Share, Dividend reinvestment | $ / shares | 43.15 |
Weighted Average Grant Date Fair Value Per Share Ending Balance | $ / shares | $ 40.21 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenue Recognition (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule Of Revenue Recognition [Line Items] | |||
Total net securities brokerage revenue | $ 7,186 | $ 6,672 | $ 6,449 |
Payment processing fees | 1,028 | ||
Electronic banking fees | 23,300 | 19,183 | 15,596 |
Mortgage banking income | 5,840 | 5,053 | 2,529 |
Net gain or loss on sale of other real estate owned | 524 | 658 | 790 |
Total Service Charges on Deposits [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Total trust fees/Total service charges on deposits | $ 23,670 | ||
Trust Account Fees [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | Over time | ||
Total trust fees/Total service charges on deposits | $ 15,833 | ||
WesMark Fees [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | Over time | ||
Total trust fees/Total service charges on deposits | $ 8,790 | ||
Total Trust Fees [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Total trust fees/Total service charges on deposits | $ 24,623 | $ 22,740 | $ 21,630 |
Commercial Banking Fees [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | Over time | ||
Total trust fees/Total service charges on deposits | $ 2,125 | ||
Personal Service Charges [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time & over time | ||
Total trust fees/Total service charges on deposits | $ 21,545 | ||
Annuity Commissions [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time | ||
Total net securities brokerage revenue | $ 5,178 | ||
Equity and Debt Security Trades [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time | ||
Total net securities brokerage revenue | $ 429 | ||
Managed Money [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | Over time | ||
Total net securities brokerage revenue | $ 647 | ||
Trail Commissions [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | Over time | ||
Total net securities brokerage revenue | $ 932 | ||
Payment Processing Fees [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time & over time | ||
Electronic Banking Fees [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time | ||
Mortgage [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time | ||
OREO/other assets [Member] | |||
Schedule Of Revenue Recognition [Line Items] | |||
Point of revenue recognition | At a point in time |
Other Operating Expenses - Sche
Other Operating Expenses - Schedule of Other Operating Expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Costs and Expenses [Abstract] | |||
Franchise and other miscellaneous taxes | $ 9,847 | $ 8,423 | $ 6,825 |
Consulting, regulatory and advisory fees | 6,976 | 6,857 | 6,270 |
ATM and electronic banking interchange expenses | 5,718 | 4,510 | 4,297 |
Postage and courier expenses | 4,143 | 3,879 | 3,306 |
Supplies | 3,180 | 3,033 | 2,919 |
Legal fees | 2,778 | 2,781 | 2,406 |
Communications | 2,569 | 2,487 | 1,800 |
Other real estate owned and foreclosure expenses | 831 | 1,097 | 1,210 |
Other | 14,679 | 12,263 | 11,967 |
Total other operating expenses | $ 50,721 | $ 45,330 | $ 41,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Line Items] | ||||
Federal statutory tax rate | 21.00% | 35.00% | 35.00% | |
Provisional amount related to remeasurement of deferred tax | $ 12,800,000 | |||
Change in Provisional amount related to remeasurement of deferred tax | $ 100,000 | |||
Valuation allowance of deferred tax assets | 0.1 | 0.1 | ||
Deferred tax assets net operating loss carryforwards | 4,854,000 | 6,062,000 | $ 12,020,000 | |
Qualifying and non-qualifying tax bad debt reserves | 45,900,000 | 45,900,000 | ||
Provision for income taxes | 0 | |||
Related amount of unrecognized deferred tax liability | 10,500,000 | 10,500,000 | ||
Federal and state income taxes applicable to securities transactions | (200,000) | 200,000 | 900,000 | |
Unrecognized tax benefits and interest | 465,000 | $ 467,000 | $ 436,000 | $ 326,000 |
Unrecognized tax benefits that would affect the effective tax rate | 500,000 | |||
Your Community Bankshares, Inc [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Federal deferred tax assets net operating loss carryforwards | 21,300,000 | |||
Indiana [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Deferred tax assets net operating loss carryforwards | $ 9,200,000 | |||
Earliest Tax Year [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Earliest year for tax examination | 2,015 | |||
Earliest Tax Year [Member] | Your Community Bankshares, Inc [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,030 | |||
Earliest Tax Year [Member] | Indiana [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,031 | |||
Latest Tax Year [Member] | Your Community Bankshares, Inc [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,036 | |||
Latest Tax Year [Member] | Indiana [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,036 |
Income Taxes - Reconciliation f
Income Taxes - Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory tax rate | 21.00% | 35.00% | 35.00% |
Tax reform remeasurement | 0.00% | 8.60% | 0.00% |
Net tax-exempt interest income on securities and loans of state and political subdivisions | (3.20%) | (6.00%) | (7.00%) |
State income taxes, net of federal tax effect | 1.70% | 1.30% | 1.40% |
Bank-owned life insurance | (0.80%) | (1.10%) | (1.20%) |
General business credits | (1.60%) | (1.70%) | (2.10%) |
All other-net | 0.90% | 0.20% | 0.30% |
Effective tax rate | 18.00% | 36.30% | 26.40% |
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current: | |||||||||||
Federal | $ 20,707 | $ 24,634 | $ 18,053 | ||||||||
State | 3,542 | 2,061 | 2,159 | ||||||||
Deferred: | |||||||||||
Tax reform remeasurement | 12,765 | ||||||||||
Federal | 6,864 | 13,329 | 10,519 | ||||||||
State | 299 | 1,018 | 305 | ||||||||
Total | $ 10,556 | $ 6,516 | $ 7,335 | $ 7,004 | $ 23,006 | $ 10,527 | $ 9,653 | $ 10,622 | $ 31,412 | $ 53,807 | $ 31,036 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Securities and defined benefit pension plan unrecognized items | $ 1,250 | $ 345 | $ (3,480) |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | |||
Allowance for loan losses | $ 11,207 | $ 10,389 | $ 16,198 |
Compensation and benefits | 5,851 | 2,536 | 5,444 |
Security gains and losses | 3,707 | 821 | 2,854 |
Purchase accounting adjustments | 1,565 | ||
Non-accrual interest income | 1,388 | 1,389 | 2,392 |
Tax credit carryforwards | 5,204 | 12,744 | |
Net operating loss carryforwards | 4,854 | 6,062 | 12,020 |
Fair value adjustments on securities available-for-sale | 6,345 | 3,962 | 5,394 |
Other | 2,125 | 1,118 | 5,194 |
Gross deferred tax assets | 35,477 | 33,046 | 62,240 |
Deferred tax liabilities: | |||
Depreciation and amortization | (1,020) | (1,883) | (3,448) |
Accretion on securities | (461) | (266) | (421) |
Deferred fees and costs | (1,641) | (2,989) | |
Purchase accounting adjustments | (1,003) | (149) | |
Partnership adjustments | (680) | (674) | (1,128) |
Other | (367) | (120) | (2,519) |
Gross deferred tax liabilities | (5,172) | (5,932) | (7,665) |
Net deferred tax assets | $ 30,305 | $ 27,114 | $ 54,575 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of year | $ 467 | $ 436 | $ 326 |
Additions based on tax positions related to the current year | 68 | 101 | 110 |
Reductions for tax positions of prior years | 0 | 0 | 0 |
Reductions due to the statute of limitations | (70) | (70) | |
Settlements | 0 | 0 | 0 |
Balance at end of year | $ 465 | $ 467 | $ 436 |
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, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | $ 11,737 | $ 13,457 |
Available-for-sale debt securities U.S. Treasury | 2,114,129 | 1,261,865 |
Loans held for sale | 8,994 | 20,320 |
Other real estate owned and repossessed assets | 7,265 | 5,297 |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 11,737 | 13,457 |
Available-for-sale debt securities U.S. Treasury | 2,114,129 | |
Loans held for sale | 8,994 | 20,320 |
Other assets-interest rate derivatives agreements | 4,650 | 7,351 |
Total assets recurring fair value measurements | 2,139,510 | 1,302,993 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities-interest rate derivatives agreements | 5,081 | 7,345 |
Total liabilities recurring fair value measurements | 5,081 | 7,345 |
Impaired loans | 1,717 | |
Other real estate owned and repossessed assets | 7,265 | 5,297 |
Total assets recurring fair value measurements | 7,265 | 7,014 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 19,878 | |
US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 19,878 | |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 141,652 | 71,843 |
U.S. Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 141,652 | |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 1,561,255 | 934,922 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 1,561,255 | 934,922 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 168,972 | 114,867 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 168,972 | 114,867 |
Obligations of State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 185,114 | 104,830 |
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] | ||
Available-for-sale debt securities U.S. Treasury | 185,114 | 104,830 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 37,258 | 35,403 |
Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 37,258 | 35,403 |
Investments Measured at Net Asset Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,066 | |
Investments Measured at Net Asset Value [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,066 | |
Total assets recurring fair value measurements | 2,066 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 11,737 | 11,391 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 11,737 | 11,391 |
Total assets recurring fair value measurements | 11,737 | 11,391 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities-interest rate derivatives agreements | 5,081 | 7,345 |
Available-for-sale debt securities U.S. Treasury | 2,112,626 | 1,261,865 |
Loans held for sale | 8,994 | 20,320 |
Other assets-interest rate derivatives agreements | 4,650 | 7,351 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 2,112,626 | |
Loans held for sale | 8,994 | 20,320 |
Other assets-interest rate derivatives agreements | 4,650 | 7,351 |
Total assets recurring fair value measurements | 2,126,270 | 1,289,536 |
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] | ||
Other liabilities-interest rate derivatives agreements | 5,081 | 7,345 |
Total liabilities recurring fair value measurements | 5,081 | 7,345 |
Significant Other Observable Inputs (Level 2) [Member] | US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 19,878 | |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 141,652 | |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 1,561,255 | 934,922 |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 168,972 | 114,867 |
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] | ||
Available-for-sale debt securities U.S. Treasury | 183,611 | 104,830 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 37,258 | 35,403 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 1,503 | |
Significant Unobservable Inputs (Level 3) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale debt securities U.S. Treasury | 1,503 | |
Total assets recurring fair value measurements | 1,503 | |
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 | 1,717 | |
Other real estate owned and repossessed assets | 7,265 | 5,297 |
Total assets recurring fair value measurements | 7,265 | $ 7,014 |
Significant Unobservable Inputs (Level 3) [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] | ||
Available-for-sale debt securities U.S. Treasury | $ 1,503 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | ||
Fair value transfer amount | $ 0 | $ 0 |
Fair Value Measurement - Sche_2
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2018 | |
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Other real estate owned and repossessed assets | $ 5,297 | $ 7,265 |
Impaired loans, Appraisal adjustments | (4.80%) | |
Impaired loans, Liquidation expenses | (7.60%) | |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Impaired loans | $ 1,717 | |
Other real estate owned and repossessed assets | 5,297 | 7,265 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Impaired loans | 1,717 | |
Other real estate owned and repossessed assets | $ 5,297 | $ 7,265 |
Weighted Average [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (4.80%) | |
Impaired loans, Liquidation expenses | (7.60%) |
Fair Value Measurement - Estima
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financial Assets | ||
Cash and due from banks | $ 169,186 | $ 117,572 |
Equity securities | 11,737 | 13,457 |
Available-for-sale debt securities | 2,114,129 | 1,261,865 |
Held-to-maturity debt securities | 1,020,934 | 1,009,500 |
Net loans | 7,607,333 | 6,296,157 |
Loans held for sale | 8,994 | 20,320 |
Accrued interest receivable | 38,853 | 29,728 |
Financial Liabilities | ||
Deposits | 8,831,633 | 7,043,588 |
Federal Home Loan Bank borrowings | 1,054,174 | 948,203 |
Other borrowings | 290,522 | 184,805 |
Subordinated debt and junior subordinated debt | 189,842 | 164,327 |
Accrued interest payable | 4,627 | 3,178 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets | ||
Cash and due from banks | 169,186 | 117,572 |
Equity securities | 11,737 | 11,391 |
Accrued interest receivable | 38,853 | 29,728 |
Financial Liabilities | ||
Deposits | 7,376,023 | 5,766,531 |
Other borrowings | 288,918 | 182,785 |
Accrued interest payable | 4,627 | 3,178 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets | ||
Available-for-sale debt securities | 2,112,626 | 1,261,865 |
Held-to-maturity debt securities | 1,020,195 | 1,023,191 |
Loans held for sale | 8,994 | 20,320 |
Other assets-interest rate derivatives | 4,650 | 7,351 |
Financial Liabilities | ||
Deposits | 1,460,367 | 1,287,005 |
Federal Home Loan Bank borrowings | 1,051,401 | 944,706 |
Other borrowings | 1,936 | 2,029 |
Subordinated debt and junior subordinated debt | 174,448 | 146,484 |
Other liabilities-interest rate derivatives | 5,081 | 7,345 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets | ||
Available-for-sale debt securities | 1,503 | |
Held-to-maturity debt securities | 548 | 593 |
Net loans | 7,422,825 | 6,212,823 |
Carrying Amount [Member] | ||
Financial Assets | ||
Cash and due from banks | 169,186 | 117,572 |
Equity securities | 11,737 | 13,457 |
Available-for-sale debt securities | 2,114,129 | 1,261,865 |
Held-to-maturity debt securities | 1,020,934 | 1,009,500 |
Net loans | 7,607,333 | 6,296,157 |
Loans held for sale | 8,994 | 20,320 |
Other assets-interest rate derivatives | 4,650 | 7,351 |
Accrued interest receivable | 38,853 | 29,728 |
Financial Liabilities | ||
Deposits | 8,831,633 | 7,043,588 |
Federal Home Loan Bank borrowings | 1,054,174 | 948,203 |
Other borrowings | 290,522 | 184,805 |
Subordinated debt and junior subordinated debt | 189,842 | 164,327 |
Other liabilities-interest rate derivatives | 5,081 | 7,345 |
Accrued interest payable | 4,627 | 3,178 |
Fair Value Estimate [Member] | ||
Financial Assets | ||
Cash and due from banks | 169,186 | 117,572 |
Equity securities | 11,737 | 13,457 |
Available-for-sale debt securities | 2,114,129 | 1,261,865 |
Held-to-maturity debt securities | 1,020,743 | 1,023,784 |
Net loans | 7,422,825 | 6,212,823 |
Loans held for sale | 8,994 | 20,320 |
Other assets-interest rate derivatives | 4,650 | 7,351 |
Accrued interest receivable | 38,853 | 29,728 |
Financial Liabilities | ||
Deposits | 8,836,390 | 7,053,536 |
Federal Home Loan Bank borrowings | 1,051,401 | 944,706 |
Other borrowings | 290,854 | 184,814 |
Subordinated debt and junior subordinated debt | 174,448 | 146,484 |
Other liabilities-interest rate derivatives | 5,081 | 7,345 |
Accrued interest payable | $ 4,627 | 3,178 |
Investments Measured at Net Asset Value [Member] | ||
Financial Assets | ||
Equity securities | $ 2,066 |
Comprehensive Income_(Loss) - C
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | $ 1,395,321 | $ 1,341,408 | $ 1,122,132 |
Amounts reclassified from accumulated other comprehensive income/(loss) | 1,949 | 1,958 | 240 |
Total other comprehensive (loss) gain | (5,313) | 1,212 | (6,172) |
Ending Balance | 1,978,827 | 1,395,321 | 1,341,408 |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (18,626) | (17,758) | (17,539) |
Other comprehensive income/(loss) before reclassifications | (4,277) | 239 | (2,112) |
Acquired FFKT post-retirement medical benefit plan | 4,235 | ||
Amounts reclassified from accumulated other comprehensive income/(loss) | 2,126 | 2,194 | 1,893 |
Total other comprehensive (loss) gain | 2,084 | 2,433 | (219) |
Adoption of Accounting Standard ASU 2016-01 | (3,301) | ||
Ending Balance | (16,542) | (18,626) | (17,758) |
Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (13,250) | (9,890) | (4,162) |
Other comprehensive income/(loss) before reclassifications | (7,220) | (985) | (4,300) |
Amounts reclassified from accumulated other comprehensive income/(loss) | 11 | (27) | (1,428) |
Total other comprehensive (loss) gain | (7,209) | (1,012) | (5,728) |
Adoption of Accounting Standard ASU 2016-01 | (1,063) | (2,348) | |
Ending Balance | (21,522) | (13,250) | (9,890) |
Accumulated Unrealized Gains on Debt Securities Transferred from Available For Sale to Held to Maturity [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 381 | 522 | 747 |
Amounts reclassified from accumulated other comprehensive income/(loss) | (188) | (209) | (225) |
Total other comprehensive (loss) gain | (188) | (209) | (225) |
Adoption of Accounting Standard ASU 2016-01 | 68 | ||
Ending Balance | 193 | 381 | 522 |
Accumulated Other Comprehensive (Loss) Income [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (31,495) | (27,126) | (20,954) |
Other comprehensive income/(loss) before reclassifications | (11,497) | (746) | (6,412) |
Acquired FFKT post-retirement medical benefit plan | 4,235 | ||
Amounts reclassified from accumulated other comprehensive income/(loss) | 1,949 | 1,958 | 240 |
Total other comprehensive (loss) gain | (5,313) | 1,212 | (6,172) |
Adoption of Accounting Standard ASU 2016-01 | (1,063) | (5,581) | |
Ending Balance | $ (37,871) | $ (31,495) | $ (27,126) |
Comprehensive Income_(Loss) -_2
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Percentage of Federal and State income tax rate | 23.00% | 37.00% |
Comprehensive Income_(Loss) - S
Comprehensive Income/(Loss) - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net securities losses (gains) reclassified into earnings | $ 900 | $ (567) | $ (2,357) | ||||||||
Interest and dividends on securities (Interest and dividend income) | (77,676) | (58,120) | (56,880) | ||||||||
Employee benefits (Non-interest expense) | 30,079 | 29,933 | 27,952 | ||||||||
Provision for income taxes | $ 10,556 | $ 6,516 | $ 7,335 | $ 7,004 | $ 23,006 | $ 10,527 | $ 9,653 | $ 10,622 | 31,412 | 53,807 | 31,036 |
Net effect on accumulated other comprehensive income/(loss) for the period | 1,949 | 1,958 | 240 | ||||||||
Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net effect on accumulated other comprehensive income/(loss) for the period | 11 | (27) | (1,428) | ||||||||
Accumulated Unrealized Gains on Debt Securities Transferred from Available For Sale to Held to Maturity [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net effect on accumulated other comprehensive income/(loss) for the period | (188) | (209) | (225) | ||||||||
Accumulated Defined Benefit Plans Adjustment [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net effect on accumulated other comprehensive income/(loss) for the period | 2,126 | 2,194 | 1,893 | ||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net securities losses (gains) reclassified into earnings | 15 | (42) | (2,251) | ||||||||
Provision for income taxes | (4) | 15 | 823 | ||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains on Debt Securities Transferred from Available For Sale to Held to Maturity [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest and dividends on securities (Interest and dividend income) | (244) | (326) | (357) | ||||||||
Provision for income taxes | 56 | 117 | 132 | ||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Employee benefits (Non-interest expense) | 2,948 | 3,247 | 3,046 | ||||||||
Provision for income taxes | $ (822) | $ (1,053) | $ (1,153) |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Allowance for credit losses associated with loan commitments | $ 741 | $ 574 | $ 571 | $ 613 |
Liability associated with letters of credit | $ 200 | $ 200 |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lines of credit | $ 1,894,030 | $ 1,452,697 |
Loans approved but not closed | 258,778 | 245,644 |
Overdraft limits | 153,572 | 126,671 |
Letters of credit | 42,841 | 31,951 |
Contingent obligations and other guarantees | $ 61,509 | $ 6,700 |
Wesbanco Bank Community Devel_2
Wesbanco Bank Community Development Corporation - Additional Information (Detail) - WBCDC [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |||
New Markets Tax Credits | $ 100,000,000 | ||
Lower limit of poverty rate tracts | 20.00% | ||
Percentage income of median family | 80.00% | ||
New Markets Tax Credits invested | $ 60,000,000 | ||
New Markets Tax Credits not invested | $ 40,000,000 | ||
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 | $ 23,100,000 | ||
Investment limit for credit allowance | 60,000,000 | ||
Amount eligible to receive as tax credit | 300,000 | ||
Amount received as tax credit | 15,600,000 | ||
Investment limit for credit allowance | 40,000,000 | ||
Provision for income tax | 700,000 | $ 1,000,000 | $ 1,800,000 |
Tax credit carry forward | $ 0 | ||
Minimum percentage of QEI proceeds utilized | 85.00% |
Wesbanco Bank Community Devel_3
Wesbanco Bank Community Development Corporation - Schedule of Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||||
Cash and due from banks | $ 169,186 | $ 117,572 | ||
Loans, net of allowance for loan losses of $261 | 7,607,333 | 6,296,157 | ||
Other assets | 176,374 | 155,004 | ||
Total Assets | 12,458,632 | 9,816,178 | ||
Liabilities | 10,479,805 | 8,420,857 | ||
Shareholder Equity | 1,978,827 | 1,395,321 | $ 1,341,408 | $ 1,122,132 |
Total Liabilities and Shareholder Equity | 12,458,632 | 9,816,178 | ||
WBCDC [Member] | ||||
ASSETS | ||||
Cash and due from banks | 42,711 | $ 36,533 | ||
Loans, net of allowance for loan losses of $261 | 29,502 | |||
Investments | 1,441 | |||
Other assets | 75 | |||
Total Assets | 73,729 | |||
Liabilities | 206 | |||
Shareholder Equity | 73,523 | |||
Total Liabilities and Shareholder Equity | $ 73,729 |
Wesbanco Bank Community Devel_4
Wesbanco Bank Community Development Corporation - Schedule of Condensed Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule Of Subsidiary Financial Statements Table [Line Items] | ||||
Allowance for loan losses | $ 48,948 | $ 45,284 | $ 43,674 | $ 41,710 |
WBCDC [Member] | ||||
Schedule Of Subsidiary Financial Statements Table [Line Items] | ||||
Allowance for loan losses | $ 261 |
Wesbanco Bank Community Devel_5
Wesbanco Bank Community Development Corporation - Schedule of Condensed Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest income | |||||||||||
Loans | $ 331,961 | $ 272,007 | $ 226,993 | ||||||||
Other | 5,320 | 2,297 | 2,224 | ||||||||
Total interest income | $ 121,387 | $ 108,393 | $ 98,888 | $ 86,417 | $ 84,851 | $ 85,489 | $ 82,160 | $ 79,924 | 414,957 | 332,424 | 286,097 |
Provision for loan losses | 7,597 | 9,983 | 8,520 | ||||||||
Net interest income after provision for credit losses | 98,913 | 88,898 | 80,639 | 71,124 | 70,806 | 71,738 | 69,756 | 68,008 | 339,472 | 280,309 | 244,852 |
Gain on investments | (1,303) | 84 | 358 | (39) | 56 | 6 | 494 | 12 | (900) | 567 | |
Non-interest expense | 70,990 | 76,120 | 63,543 | 54,571 | 54,837 | 55,754 | 55,884 | 54,384 | 265,224 | 220,860 | 208,680 |
Income before provision for income taxes | 54,484 | 39,002 | 40,504 | 40,533 | 38,903 | 36,883 | 35,994 | 36,508 | 174,524 | 148,289 | 117,671 |
Provision for income taxes | 10,556 | 6,516 | 7,335 | 7,004 | 23,006 | 10,527 | 9,653 | 10,622 | 31,412 | 53,807 | 31,036 |
Net income | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | 143,112 | $ 94,482 | $ 86,635 |
WBCDC [Member] | |||||||||||
Interest income | |||||||||||
Loans | 1,103 | ||||||||||
Other | 3 | ||||||||||
Total interest income | 1,106 | ||||||||||
Provision for loan losses | 7 | ||||||||||
Net interest income after provision for credit losses | 1,099 | ||||||||||
Gain on investments | 621 | ||||||||||
Non-interest expense | 276 | ||||||||||
Income before provision for income taxes | 1,444 | ||||||||||
Provision for income taxes | 333 | ||||||||||
Net income | $ 1,111 |
Wesbanco Bank Community Devel_6
Wesbanco Bank Community Development Corporation - Schedule of Condensed Cash Flow Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | $ 143,112 | $ 94,482 | $ 86,635 |
Provision for loan losses | 7,597 | 9,983 | 8,520 | ||||||||
Gain on investments | 1,303 | $ (84) | $ (358) | 39 | (56) | $ (6) | $ (494) | $ (12) | 900 | (567) | |
(Increase) Decrease in other assets | 19,895 | 4,593 | 13,137 | ||||||||
Net change in other liabilities | (1,681) | 2,944 | 7,404 | ||||||||
Investing Activities | |||||||||||
Decrease in loans | 121,504 | (90,225) | $ (174,952) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Cash and cash equivalents at beginning of year | 117,572 | 117,572 | |||||||||
Cash and cash equivalents at end of year | 169,186 | 117,572 | 169,186 | 117,572 | |||||||
WBCDC [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 1,111 | ||||||||||
Provision for loan losses | 7 | ||||||||||
Gain on investments | (621) | ||||||||||
(Increase) Decrease in other assets | 120 | ||||||||||
Net change in other liabilities | (148) | ||||||||||
Net cash provided by operating activities | 469 | ||||||||||
Investing Activities | |||||||||||
Decrease in loans | 5,709 | ||||||||||
Net cash provided by investing activities | 5,709 | ||||||||||
FINANCING ACTIVITIES | |||||||||||
Qualified equity investment by parent company | 0 | ||||||||||
Net cash provided by financing activities | 0 | ||||||||||
Net increase in cash and cash equivalents | 6,178 | ||||||||||
Cash and cash equivalents at beginning of year | $ 36,533 | 36,533 | |||||||||
Cash and cash equivalents at end of year | $ 42,711 | $ 36,533 | $ 42,711 | $ 36,533 |
Transactions with Related Par_2
Transactions with Related Parties - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |||
Aggregate indebtedness of related parties | $ 10,600,000 | $ 16,700,000 | $ 18,700,000 |
Related party loans funded | 4,500,000 | ||
Related party loans repaid | $ 10,600,000 | ||
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 ($) | 1 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Potential maximum dividends without prior regulatory approval | $ 105,400,000 | |
Average required reserve balance in Federal Reserve Bank | $ 2,300,000 | $ 0 |
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 | $ 164,356,000 | |
Provision of the Dodd-Frank | 15,000,000,000 | |
Trust preferred securities included in Tier One capital | $ 162,500,000 | |
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 | $ 164,400,000 |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Risk-Based Capital Amounts and Ratios (Detail) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
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 | $ 1,258,605,000 | $ 970,425,000 |
Common equity tier 1, amount | 1,096,105,000 | 834,554,000 |
Tier 1 capital to risk-weighted assets, amount | 1,258,605,000 | 970,425,000 |
Total capital to risk-weighted assets, amount | $ 1,333,503,000 | $ 1,042,124,000 |
Tier 1 leverage, ratio | 10.74% | 10.39% |
Common equity tier 1, ratio | 13.14% | 12.14% |
Tier 1 capital to risk-weighted assets, ratio | 15.09% | 14.12% |
Total capital to risk-weighted assets, ratio | 15.99% | 15.16% |
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 | $ 1,108,600,000 | $ 869,227,000 |
Common equity tier 1, amount | 1,108,600,000 | 869,227,000 |
Tier 1 capital to risk-weighted assets, amount | 1,108,600,000 | 869,227,000 |
Total capital to risk-weighted assets, amount | $ 1,183,498,000 | $ 940,303,000 |
Tier 1 leverage, ratio | 9.48% | 9.32% |
Common equity tier 1, ratio | 13.30% | 12.66% |
Tier 1 capital to risk-weighted assets, ratio | 13.30% | 12.66% |
Total capital to risk-weighted assets, ratio | 14.20% | 13.70% |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage, amount | $ 468,824,000 | $ 373,566,000 |
Common equity tier 1, amount | 375,254,000 | 309,298,000 |
Tier 1 capital to risk-weighted assets, amount | 500,338,000 | 412,397,000 |
Total capital to risk-weighted assets, amount | 667,118,000 | 549,863,000 |
Minimum [Member] | WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage, amount | 467,939,000 | 372,900,000 |
Common equity tier 1, amount | 375,117,000 | 308,900,000 |
Tier 1 capital to risk-weighted assets, amount | 500,156,000 | 411,866,000 |
Total capital to risk-weighted assets, amount | $ 666,874,000 | $ 549,155,000 |
Condensed Parent Company Fina_3
Condensed Parent Company Financial Statements - Schedule of Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||||
Cash and short-term investments | $ 169,186 | $ 117,572 | ||
Securities available-for-sale, at fair value | 2,114,129 | 1,261,865 | ||
Other assets | 176,374 | 155,004 | ||
Total Assets | 12,458,632 | 9,816,178 | ||
LIABILITIES | ||||
Junior subordinated debt owed to unconsolidated subsidiary trusts | 164,356 | |||
Total Liabilities | 10,479,805 | 8,420,857 | ||
SHAREHOLDERS' EQUITY | 1,978,827 | 1,395,321 | $ 1,341,408 | $ 1,122,132 |
Total Liabilities and Shareholders' Equity | 12,458,632 | 9,816,178 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and short-term investments | 121,857 | 75,911 | $ 47,035 | $ 33,172 |
Investment in subsidiaries-Bank | 1,991,452 | 1,431,021 | ||
Investment in subsidiaries-Nonbank | 12,322 | 7,755 | ||
Securities available-for-sale, at fair value | 1,212 | 2,687 | ||
Other assets | 33,159 | 28,614 | ||
Total Assets | 2,160,002 | 1,545,988 | ||
LIABILITIES | ||||
Junior subordinated debt owed to unconsolidated subsidiary trusts | 164,356 | 138,564 | ||
Dividends payable and other liabilities | 16,819 | 12,103 | ||
Total Liabilities | 181,175 | 150,667 | ||
SHAREHOLDERS' EQUITY | 1,978,827 | 1,395,321 | ||
Total Liabilities and Shareholders' Equity | $ 2,160,002 | $ 1,545,988 |
Condensed Parent Company Fina_4
Condensed Parent Company Financial Statements - Schedule of Condensed Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Income from securities | $ 121,387 | $ 108,393 | $ 98,888 | $ 86,417 | $ 84,851 | $ 85,489 | $ 82,160 | $ 79,924 | $ 414,957 | $ 332,424 | $ 286,097 |
Other income | 9,606 | 8,641 | 9,751 | ||||||||
Interest expense | 19,620 | 18,460 | 16,541 | 13,125 | 11,669 | 11,235 | 10,021 | 9,205 | 67,721 | 42,129 | 32,767 |
Other expense | 50,721 | 45,330 | 41,000 | ||||||||
Total non-interest expense | 70,990 | 76,120 | 63,543 | 54,571 | 54,837 | 55,754 | 55,884 | 54,384 | 265,224 | 220,860 | 208,680 |
Income tax benefit | 10,556 | 6,516 | 7,335 | 7,004 | 23,006 | 10,527 | 9,653 | 10,622 | 31,412 | 53,807 | 31,036 |
NET INCOME | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | 143,112 | 94,482 | 86,635 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividends from subsidiaries-Bank | 86,000 | 72,000 | 85,000 | ||||||||
Dividends from subsidiaries-Nonbank | 486 | 2,520 | 800 | ||||||||
Income from securities | 24 | 73 | 75 | ||||||||
Other income | 900 | 203 | 147 | ||||||||
Total income | 87,410 | 74,796 | 86,022 | ||||||||
Interest expense | 7,551 | 6,032 | 4,136 | ||||||||
Other expense | 7,940 | 4,004 | 5,628 | ||||||||
Total non-interest expense | 15,491 | 10,036 | 9,764 | ||||||||
Income before income tax benefit and undistributed net income of subsidiaries | 71,919 | 64,760 | 76,258 | ||||||||
Income tax benefit | (3,739) | (4,726) | (3,149) | ||||||||
Income before undistributed net income of subsidiaries | 75,658 | 69,486 | 79,407 | ||||||||
Equity in undistributed net income of subsidiaries | 67,454 | 24,996 | 7,228 | ||||||||
NET INCOME | $ 143,112 | $ 94,482 | $ 86,635 |
Condensed Parent Company Fina_5
Condensed Parent Company Financial Statements - Schedule of Condensed Cash Flow Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | $ 143,112 | $ 94,482 | $ 86,635 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income | 900 | ||||||||||
(Increase) Decrease in other assets | 19,895 | 4,593 | 13,137 | ||||||||
Net securities losses | 900 | (567) | (2,357) | ||||||||
Other-net | (233) | (438) | (574) | ||||||||
Investing Activities | |||||||||||
Proceed from sales-securities available-for-sale | 82,134 | 7,760 | 277,225 | ||||||||
Purchase of securities-securities available-for-sale | (841,696) | (252,114) | (213,894) | ||||||||
Acquisitions and additional capitalization of subsidiaries, net of cash acquired (paid) | 278,654 | 4,863 | |||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of junior subordinated debt | (17,519) | ||||||||||
Issuance of common stock | 1,578 | 1,040 | 1,713 | ||||||||
Treasury shares purchased-net | (426) | (3,026) | |||||||||
Cash and cash equivalents at beginning of year | 117,572 | 117,572 | |||||||||
Cash and cash equivalents at end of year | 169,186 | 117,572 | 169,186 | 117,572 | |||||||
Parent Company [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 143,112 | 94,482 | 86,635 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income | (67,454) | (24,996) | (7,228) | ||||||||
(Increase) Decrease in other assets | (3,612) | 566 | 14,679 | ||||||||
Net securities losses | 36 | ||||||||||
Other-net | 4,988 | 2,848 | 2,094 | ||||||||
Net cash provided by operating activities | 77,070 | 72,900 | 96,180 | ||||||||
Investing Activities | |||||||||||
Proceed from sales-securities available-for-sale | 1,511 | ||||||||||
Purchase of securities-securities available-for-sale | (200) | ||||||||||
Acquisitions and additional capitalization of subsidiaries, net of cash acquired (paid) | 37,309 | (43,199) | |||||||||
Net cash provided (used in) by investing activities | 38,820 | (200) | (43,199) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of junior subordinated debt | (17,519) | ||||||||||
Issuance of common stock | 1,578 | 1,040 | 1,713 | ||||||||
Treasury shares purchased-net | (426) | (3,026) | |||||||||
Dividends paid to common and preferred shareholders | (53,577) | (44,864) | (37,805) | ||||||||
Net cash used in financing activities | (69,944) | (43,824) | (39,118) | ||||||||
Net increase in cash and cash equivalents | 45,946 | 28,876 | 13,863 | ||||||||
Cash and cash equivalents at beginning of year | $ 75,911 | $ 47,035 | 75,911 | 47,035 | 33,172 | ||||||
Cash and cash equivalents at end of year | $ 121,857 | $ 75,911 | $ 121,857 | $ 75,911 | $ 47,035 |
Business Segments - Additional
Business Segments - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018USD ($)Segment | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Segment Reporting Information [Line Items] | |||
Operating segments | Segment | 2 | ||
Trust and Investment Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Market value of assets managed or held in custody by trust and investment services segment | $ 4,300 | $ 3,900 | $ 3,700 |
Total non-fiduciary assets of the trust and investment services segment | 4.6 | $ 1.5 | $ 4.3 |
Trust and Investment Services [Member] | Customer-Related Intangible Assets [Member] | |||
Segment Reporting Information [Line Items] | |||
Total non-fiduciary assets of the trust and investment services segment | $ 2.6 |
Business Segments - Financial I
Business Segments - Financial Information by Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||||||||
Interest and dividend income | $ 121,387 | $ 108,393 | $ 98,888 | $ 86,417 | $ 84,851 | $ 85,489 | $ 82,160 | $ 79,924 | $ 414,957 | $ 332,424 | $ 286,097 |
Interest expense | 19,620 | 18,460 | 16,541 | 13,125 | 11,669 | 11,235 | 10,021 | 9,205 | 67,721 | 42,129 | 32,767 |
Net interest income | 101,767 | 89,933 | 82,347 | 73,292 | 73,182 | 74,254 | 72,139 | 70,719 | 347,236 | 290,295 | 253,330 |
Provision for credit losses | 2,854 | 1,035 | 1,708 | 2,168 | 2,376 | 2,516 | 2,383 | 2,711 | 7,764 | 9,986 | 8,478 |
Net interest income after provision for credit losses | 98,913 | 88,898 | 80,639 | 71,124 | 70,806 | 71,738 | 69,756 | 68,008 | 339,472 | 280,309 | 244,852 |
Non-interest income | 100,276 | 88,840 | 81,499 | ||||||||
Non-interest expense | 70,990 | 76,120 | 63,543 | 54,571 | 54,837 | 55,754 | 55,884 | 54,384 | 265,224 | 220,860 | 208,680 |
Income before provision for income taxes | 54,484 | 39,002 | 40,504 | 40,533 | 38,903 | 36,883 | 35,994 | 36,508 | 174,524 | 148,289 | 117,671 |
Provision for income taxes | 10,556 | 6,516 | 7,335 | 7,004 | 23,006 | 10,527 | 9,653 | 10,622 | 31,412 | 53,807 | 31,036 |
Net income | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | 143,112 | 94,482 | 86,635 |
Community Banking [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest and dividend income | 414,957 | 332,424 | 286,097 | ||||||||
Interest expense | 67,721 | 42,129 | 32,767 | ||||||||
Net interest income | 347,236 | 290,295 | 253,330 | ||||||||
Provision for credit losses | 7,764 | 9,986 | 8,478 | ||||||||
Net interest income after provision for credit losses | 339,472 | 280,309 | 244,852 | ||||||||
Non-interest income | 75,653 | 66,100 | 59,869 | ||||||||
Non-interest expense | 250,338 | 207,441 | 196,784 | ||||||||
Income before provision for income taxes | 164,787 | 138,968 | 107,937 | ||||||||
Provision for income taxes | 29,367 | 50,079 | 27,142 | ||||||||
Net income | 135,420 | 88,889 | 80,795 | ||||||||
Trust and Investment Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Non-interest income | 24,623 | 22,740 | 21,630 | ||||||||
Non-interest expense | 14,886 | 13,419 | 11,896 | ||||||||
Income before provision for income taxes | 9,737 | 9,321 | 9,734 | ||||||||
Provision for income taxes | 2,045 | 3,728 | 3,894 | ||||||||
Net income | $ 7,692 | $ 5,593 | $ 5,840 |
Condensed Quarterly Statement_3
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, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement [Abstract] | |||||||||||
Interest and dividend income | $ 121,387 | $ 108,393 | $ 98,888 | $ 86,417 | $ 84,851 | $ 85,489 | $ 82,160 | $ 79,924 | $ 414,957 | $ 332,424 | $ 286,097 |
Interest expense | 19,620 | 18,460 | 16,541 | 13,125 | 11,669 | 11,235 | 10,021 | 9,205 | 67,721 | 42,129 | 32,767 |
Net interest income | 101,767 | 89,933 | 82,347 | 73,292 | 73,182 | 74,254 | 72,139 | 70,719 | 347,236 | 290,295 | 253,330 |
Provision for credit losses | 2,854 | 1,035 | 1,708 | 2,168 | 2,376 | 2,516 | 2,383 | 2,711 | 7,764 | 9,986 | 8,478 |
Net interest income after provision for credit losses | 98,913 | 88,898 | 80,639 | 71,124 | 70,806 | 71,738 | 69,756 | 68,008 | 339,472 | 280,309 | 244,852 |
Non-interest income | 27,864 | 26,140 | 23,050 | 24,019 | 22,878 | 20,893 | 21,628 | 22,872 | 101,176 | 88,273 | |
Net securities (losses) gains | (1,303) | 84 | 358 | (39) | 56 | 6 | 494 | 12 | (900) | 567 | |
Non-interest expense | 70,990 | 76,120 | 63,543 | 54,571 | 54,837 | 55,754 | 55,884 | 54,384 | 265,224 | 220,860 | 208,680 |
Income before provision for income taxes | 54,484 | 39,002 | 40,504 | 40,533 | 38,903 | 36,883 | 35,994 | 36,508 | 174,524 | 148,289 | 117,671 |
Provision for income taxes | 10,556 | 6,516 | 7,335 | 7,004 | 23,006 | 10,527 | 9,653 | 10,622 | 31,412 | 53,807 | 31,036 |
Net income | $ 43,928 | $ 32,486 | $ 33,169 | $ 33,529 | $ 15,897 | $ 26,356 | $ 26,341 | $ 25,886 | $ 143,112 | $ 94,482 | $ 86,635 |
Earnings per common share-basic | $ 0.80 | $ 0.65 | $ 0.71 | $ 0.76 | $ 0.36 | $ 0.60 | $ 0.60 | $ 0.59 | $ 2.93 | $ 2.15 | $ 2.16 |
Earnings per common share-diluted | $ 0.80 | $ 0.64 | $ 0.71 | $ 0.76 | $ 0.36 | $ 0.60 | $ 0.60 | $ 0.59 | $ 2.92 | $ 2.14 | $ 2.16 |