WesBanco, Inc. (NASDAQ:WSBC) Q1 2023 Earnings Conference Call April 25, 2023 10:00 AM ET

Company Participants

John Iannone - Senior Vice President, Investor Relations

Todd Clossin - President and Chief Executive Officer

Jeff Jackson - Senior Executive Vice President and Chief Operating Officer

Dan Weiss - Executive Vice President and Chief Financial Officer

Conference Call Participants

Daniel Tamayo - Raymond James

Karl Shepard - RBC Capital Markets

Casey Whitman - Piper Sandler

Catherine Mealor - KBW

Manuel Navas - D.A. Davidson

Russell Gunther - Stevens

David Bishop - Hovde Group

Operator

Good morning and welcome to the WesBanco Inc. First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.

I would now like to turn the conference over to, John Iannone. Please go ahead.

John Iannone

Thank you. Good morning. And welcome to WesBanco, Inc.'s first quarter 2023 earnings conference call.

Leading the call today are Todd Clossin, President and Chief Executive Officer; Jeff Jackson, Senior Executive Vice President and Chief Operating Officer; and Dan Weiss, Executive Vice President and Chief Financial Officer.

Today's call, an archive of which will be available on our website for one year, contains forward-looking information. Cautionary statements about this information and reconciliations of non-GAAP measures are included in our earnings-related materials issued yesterday afternoon, as well as our other SEC filings and investor materials. These materials are available on the Investor Relations section of our website, wesbanco.com. All statements speak only as of April 25, 2023, and WesBanco undertakes no obligation to update them.

I would now like to turn the call over to Todd. Todd?

Todd Clossin

Thank you, John. Good morning, everyone. On today's call, we'll review our results for the first quarter of 2023, and provide an update on our operations and current 2023 outlook. Key takeaways from the call today are solid financial performance demonstrated by loan growth and discretionary cost control. Key credit quality metrics have remained at low levels and favorable to peer bank averages. We remain well capitalized with solid liquidity and a strong balance sheet with capacity to fund loan growth. And we are well-positioned for near term success while continuing to make appropriate long term growth oriented investments.

We're pleased with our performance during the first quarter of 2023. We demonstrated the earnings power, capital and liquidity to perform well and missed a quarter of broader industry volatility driven by financial institutions with different operating models than ours. We reported loan growth while maintaining credit quality and delivered solid pre-tax, pre-provision net income. We diligently manage discretionary costs while making appropriate investments that build upon and enhance our strong markets, teams and core advantages. And we remain focused on ensuring a strong organization with solid liquidity and a strong balance sheet.