WesBanco, Inc. (NASDAQ:WSBC) Q3 2023 Earnings Conference Call October 26, 2023 3:00 PM ET

Company Participants

John Iannone - Senior Vice President-Investor Relations

Jeff Jackson - President and Chief Executive Officer

Dan Weiss - Executive Vice President and Chief Financial Officer

Conference Call Participants

Casey Whitman - Piper Sandler

Daniel Tamayo - Raymond James

Manuel Navas - D.A. Davidson

Russell Gunther - Stephens Inc.

Dave Bishop - Hovde Group

Karl Shepard - RBC Capital Markets

Daniel Cardenas - Janney Montgomery Scott

Operator

Good afternoon, and welcome to the WesBanco Third Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to John Iannone, Senior Vice President of Investor Relations. Please go ahead.

John Iannone

Thank you. Good afternoon, and welcome to WesBanco, Inc.'s third quarter 2023 earnings conference call. Leading the call today are Jeff Jackson, 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 October 26, 2023, and WesBanco undertakes no obligation to update them.

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

Jeff Jackson

Thanks, John, and good afternoon. On today's call, we will review our results for the third quarter of 2023, and provide an update of our operations and current 2023 outlook. Key takeaways from the call today are: Solid financial performance with deposit and loan growth and stable fee income trends; maintain strong capital levels and key credit quality measures, which have remained at low levels and favorable to peer bank averages. We remain focused on disciplined expense management and generating positive operating leverage, while continuing to invest in attractive long-term growth prospects.

For the third quarter of 2023, we returned deposit balances to year-end 2022 levels and delivered another quarter of year-over-year loan growth at 10%, while maintaining strong credit quality metrics. Our solid financial results for the quarter reflect the strength of our franchise and the competitiveness of our growth strategies and teams in the current environment.