WesBanco, Inc. (NASDAQ:WSBC) Q1 2022 Earnings Conference Call April 27, 2022 10:00 AM ET

Company Participants

Todd F. Clossin – President and Chief Executive Officer

Dan Weiss – Executive Vice President and Chief Financial Officer

John Iannone – Senior Vice President of Investor Relations and Public Relations

Conference Call Participants

Casey Whitman – Piper Sandler

Karl Shepard – RBC Capital Markets

Stuart Lotz – KBW

Russell Gunther – D.A. Davidson

Steve Moss – B Riley, FBR

Broderick Preston – Stephens Inc

Daniel Cardenas – Boenning and Scattergood

David Bishop – Hovde Group

Operator

Good morning and welcome to WesBanco, Inc's First Quarter 2022 earnings conference call. All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. To ask a question you may [Operator Instructions], to withdraw your question, [Operator Instructions].

Please limit questions to one and a follow-up and then you can return to the queue. Please note this event is being recorded. I would now like to turn the conference over to John Iannone, Senior Vice President Investor Relations and Public Relations. Please go ahead.

John Iannone

Thank you. Good morning. And welcome to WesBanco, Inc. 's First Quarter 2022 Earnings Conference Call. Leading the call today are Todd Clossin, President and Chief Executive 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 27th, 2022. And WesBanco undertakes no obligation to update them. I would now like to turn the call over to Todd. Todd?

Todd F. Clossin

Thank you, John. Good morning, everyone. On today's call, we're going to review our results for the first quarter of 2022 and provide an update on our operations and current 2022 outlook. Key takeaways from the call today are; WesBanco remains a well-capitalized financial institution which was enhanced by our tier-2 capital raise and continued to return capital to our shareholders.

We continue to make appropriate investments, including strategic hires and our new loan production offices to enhance our ability to leverage growth opportunities while remaining focused on expense management. The successful execution of our strategies has positioned us well for continued success and we're excited about our growth opportunities. We're pleased with our performance during the first quarter of 2022, as we reported net income available to common shareholders of $42.9 million and diluted earnings per share of $0.70 when excluding after-tax mergers and restructuring charges.