Operating cash flow reached $106.6 million in 2026Q1, providing sufficient coverage for the $41.1 million dividend payout despite significant rebalancing activity within the investment securities portfolio.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 423.41M | 290.41M | 211M | 169.32M | 204.14M | 336.3M | 59.61M | 163.36M | 191.89M | 142.08M | 123.08M | 88.39M | 94.81M | 111.48M | 76.81M | 108.7M | 104.07M | 41.43M | 64.78M | 58.63M | 73.29M | 43.93M | 32.8M | 55.63M | 47.43M | 36.69M | 38.49M | 31.9M | 30.5M | 40.2M | 33M |
| Operating CF Growth % | 1113.92% | 37.64% | 24.61% | -17.06% | -39.3% | 464.2% | -63.51% | -14.87% | 35.06% | 15.44% | 39.25% | -6.77% | -14.96% | 45.13% | -29.33% | 4.45% | 151.17% | -36.04% | 10.49% | -20% | 66.83% | 33.93% | -41.04% | 17.29% | 29.28% | -4.69% | 20.66% | 4.6% | -24.13% | 21.82% | 56.4% |
| Net Income | 320.73M | 223.1M | 151.51M | 159.03M | 192.11M | 242.26M | 122.04M | 158.87M | 143.11M | 94.48M | 86.64M | 80.76M | 69.97M | 63.92M | 49.54M | 43.81M | 35.61M | 23.93M | 38.12M | 44.67M | 39.03M | 42.76M | 38.18M | 36.13M | 34.83M | 29M | 26.92M | 27.64M | 28.3M | 25.2M | 25.9M |
| Depreciation & Amortization | 20.18M | 20.18M | 15.29M | 14.44M | 13.04M | 13.39M | 14.13M | 11.57M | 10.45M | 10.44M | 9.24M | 8.12M | 7.39M | 6.98M | 6.05M | 6.24M | 6.85M | 10.33M | 6.38M | 4.71M | 4.24M | 5.89M | 8.84M | 10.81M | 5.28M | 4.45M | 5.6M | 6.95M | 5.4M | 6.3M | 6.5M |
| Deferred Taxes | 0 | 0 | -3.23M | -3.68M | 4.49M | 18.69M | -10.52M | 8.47M | 7.16M | 27.11M | 10.82M | 10.66M | 8.69M | 6.53M | -80K | 874K | -3.22M | 0 | -5.39M | -2.11M | -395K | 3.75M | 1.41M | -364K | 391K | -232K | -70K | 323K | -200K | -400K | -300K |
| Other Non-Cash Items | 82.75M | 48.46M | 23.89M | 19.65M | 17.82M | 39.01M | -50.25M | -23.05M | 15.38M | 4.67M | -1.5M | 4.58M | 5.06M | 16.54M | 9.89M | 44.06M | 51.99M | 40.42M | 29.88M | 6.34M | 12.23M | 6.73M | 165K | 7.07M | 8.2M | 5.16M | 3.83M | -1.72M | -1.5M | 5.7M | 4.1M |
| Working Capital Changes | 0 | -10.08M | 16.02M | -28.44M | -29.57M | 16.47M | -21.45M | 2.19M | 11.42M | 2.42M | 15.86M | -17.41M | 3.69M | 17.51M | 11.41M | 13.71M | 12.84M | -33.25M | -4.2M | 5.03M | 18.18M | -15.19M | -15.79M | 1.98M | -1.27M | -1.69M | 2.21M | -1.29M | -1.5M | 3.4M | -3.2M |
| Cash from Investing | -270.08M | -71.01M | -1.03B | -535.22M | -1.07B | -328.5M | 57.79M | 103.79M | -51.86M | -77.38M | 193.97M | -210.33M | -173.01M | -164.5M | 55.44M | -178M | -43.93M | 338.8M | 76.67M | 100.13M | 240.17M | 144.54M | -158.99M | -154.74M | -108.59M | -159.03M | -43.12M | -37.62M | -124.1M | -20.9M | -119.3M |
| Purchase of Investments | -949.14M | -1.41B | -383.38M | -4.5M | -803.44M | -2.34B | -668.63M | -615.25M | -931.63M | -318.79M | -307.34M | -916.97M | -247.23M | -282.35M | -513.34M | -764.79M | -797.02M | -1.26B | -245.9M | -239.66M | -281.18M | -224.11M | -386.33M | -750.14M | -673.87M | -467.43M | -110.55M | -133.18M | -443M | -228.7M | -269.4M |
| Sale/Maturity of Investments | 2.71B | 1.65B | 385.26M | 418.89M | 692.74M | 948.47M | 1.23B | 731.86M | 430.52M | 337.32M | 673.5M | 1.03B | 279M | 336.8M | 717.68M | 584.73M | 624.35M | 937.62M | 258.23M | 219M | 537.58M | 399.7M | 484.18M | 724.07M | 526.6M | 264.84M | 144.25M | 227.3M | 384.8M | 211.2M | 278.7M |
| Net Investment Activity | 1.76B | 244.68M | 1.89M | 414.39M | -110.7M | -1.39B | 560.78M | 116.61M | -501.11M | 18.54M | 366.16M | 113.3M | 31.78M | 54.45M | 204.34M | -180.06M | -172.67M | -323.78M | 12.33M | -20.66M | 256.4M | 175.59M | 97.85M | -26.07M | -147.27M | -202.59M | 33.7M | 94.12M | -58.2M | -17.5M | 9.3M |
| Acquisitions | 400.91M | 200.45M | 0 | 0 | 0 | 0 | 0 | 60.02M | 278.65M | 0 | 4.86M | -28.55M | 0 | 0 | 10.95M | 0 | 0 | 578.57M | 0 | 7.03M | -14.38M | -37.82M | -26.87M | 0 | 24.46M | 0 | 0 | 2.81M | 0 | 0 | 0 |
| Other Investing | -2.41B | -505.72M | -1.02B | -927.11M | -949.47M | 1.07B | -495.44M | -60.65M | 175.27M | -89.88M | -174.37M | -285.5M | -197.41M | -210.1M | -153.88M | 4.58M | 131.44M | 86.66M | 71.49M | 123.15M | 3.82M | 15.26M | -220.61M | -125.42M | 18.35M | 45.77M | -74.6M | -124.35M | -56.9M | 4.1M | -121.5M |
| Cash from Financing | -284.64M | 168.57M | 791.9M | 552.87M | 21.07M | 338.11M | 553.25M | -201.54M | -88.42M | -75.3M | -276.18M | 114.63M | 76.65M | 22.96M | -146.97M | 130.49M | -63.87M | -438.54M | -130.78M | -124.88M | -327.46M | -174.92M | 114.78M | 126.23M | 59.97M | 131.2M | -3.31M | -19.15M | 38.5M | 48M | 69.9M |
| Dividends Paid | -154.48M | -140.27M | -97.54M | -92.42M | -91.45M | -96.61M | -87.9M | -66.57M | -53.58M | -44.86M | -37.8M | -33.01M | -25.14M | -22.24M | -18.12M | -15.96M | -14.88M | -28.9M | -29.61M | -30.2M | -23.07M | -22.79M | -19.79M | -19.28M | -18.89M | -16.74M | -17.17M | -17.75M | -15.8M | -14M | -11.6M |
| Share Repurchases | -151.14M | -151.09M | 0 | -3.51M | -116.05M | -179.88M | -24.54M | -10.21M | -426K | 0 | -3.03M | -2.54M | 0 | -6.17M | -24K | 0 | 0 | -75M | 0 | -30.12M | 0 | -36.62M | -2.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 1.17M | 540K | 191.04M | 0 | 0 | 0 | 59K | 72K | 1.58M | 1.04M | 1.71M | 0 | 1.92M | 2.54M | 38K | 26K | 0 | 111K | 52.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -149.97M | -150.55M | 191.04M | -3.51M | -116.05M | -179.88M | -24.48M | -10.14M | 1.15M | 1.04M | -1.31M | -2.54M | 1.92M | -3.63M | 14K | 26K | 0 | -74.89M | 52.46M | -30.12M | 0 | -36.62M | -2.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -2M | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | 558.55M | 821.38M | 965.17M | 38.61M | -432.77M | 1.14B | 1.43B | -192.27M | -154.88M | -28.74M | -158.78M | -235.93M | -32.87M | 139.36M | 95M | 221.54M | 193.48M | -174.76M | -338.57M | -39.91M | -21.1M | -14M | 11.96M | 83.6M | 18.6M | 43.1M | 56.36M | -3.13M | 47.1M | 48.7M | 57.9M |
| Net Change in Cash | -131.31M | 387.97M | -27.25M | 186.97M | -842.95M | 345.91M | 670.65M | 65.61M | 51.61M | -10.6M | 41.48M | -7.32M | -1.55M | -30.05M | -14.72M | 61.19M | -3.73M | -58.3M | 10.68M | 33.89M | -14M | 13.55M | -11.15M | 27.13M | -1.19M | 8.86M | -7.94M | -24.86M | -55M | 67.2M | -110.5M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 956.11M | 568.14M | 595.38M | 408.41M | 1.25B | 905.45M | 234.8M | 169.19M | 117.57M | 128.17M | 86.69M | 94M | 95.55M | 125.61M | 140.32M | 79.14M | 82.87M | 141.17M | 130.5M | 96.61M | 110.61M | 97.06M | 108.21M | 81.08M | 82.28M | 73.42M | 81.35M | 106.2M | 161.3M | 94.1M | 110.5M |
| Cash at End | 960.41M | 956.11M | 568.14M | 595.38M | 408.41M | 1.25B | 905.45M | 234.8M | 169.19M | 117.57M | 128.17M | 86.69M | 94M | 95.55M | 125.61M | 140.32M | 79.14M | 82.87M | 141.17M | 130.5M | 96.61M | 110.61M | 97.06M | 108.21M | 81.08M | 82.28M | 73.42M | 81.4M | 106.3M | 161.3M | 138.4M |
| Interest Paid | 254.09M | 462.83M | 344.25M | 223.92M | 37.74M | 32.57M | 75.08M | 87.14M | 68.62M | 42.53M | 34.03M | 27.97M | 24.52M | 36.31M | 44.45M | 56.39M | 73.08M | 100.28M | 121.58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 370K | 31.74M | 26.84M | 35.59M | 24.9M | 35.73M | 36.98M | 31.38M | 18.7M | 22.88M | 22.07M | 15.86M | 11.71M | 18.05M | 11.92M | 10.55M | 4.56M | 8.72M | 7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 399.24M | 279.99M | 200.67M | 146.82M | 196.15M | 327.76M | 52.05M | 151.16M | 187.22M | 136.04M | 121.64M | 79.07M | 87.43M | 102.64M | 70.84M | 106.19M | 101.37M | 38.79M | 57.64M | 49.25M | 67.61M | 35.44M | 27.83M | 52.38M | 43.29M | 34.48M | 36.27M | 21.7M | 21.5M | 32.7M | 25.9M |
| FCF Growth % | 269.5% | 39.52% | 36.68% | -25.15% | -40.15% | 529.65% | -65.56% | -19.26% | 37.62% | 11.85% | 53.83% | -9.56% | -14.81% | 44.87% | -33.28% | 4.75% | 161.36% | -32.71% | 17.05% | -27.16% | 90.77% | 27.33% | -46.86% | 21% | 25.55% | -4.94% | 67.16% | 0.93% | -34.25% | 26.25% | 44.69% |
CRE concentration and integration
According to recent quarterly filings, WesBanco's net income reached $88.6 million in 2026Q1, demonstrating a strong recovery from the $9.0 million loss in 2025Q1 and providing a solid foundation for internal capital generation to support the bank's ongoing regional expansion and dividend obligations.
The return to consistent profitability suggests that the bank has successfully absorbed the initial shocks associated with its recent acquisition cycle. Investors should monitor whether this earnings trajectory remains sustainable as the bank balances the need for regulatory capital buffers with the desire to fund further inorganic growth.
Based on reported financial statements, WesBanco engaged in significant investment activity, including a $224.2 million purchase and $211.5 million sale of securities in 2026Q1, indicating a dynamic approach to managing the duration and yield profile of the bank's liquid asset portfolio in a shifting rate environment.
The high volume of turnover in the investment portfolio suggests that management is actively adjusting its interest rate sensitivity to protect net interest margins. This frequent rebalancing may indicate a strategic effort to optimize the balance sheet against potential volatility in the Ohio Valley regional economy.
As reported in recent financial data, WesBanco maintained a consistent dividend payout of $41.1 million in 2026Q1, which appears well-supported by the bank's robust operating cash flow of $106.6 million, signaling a commitment to shareholder returns even during periods of aggressive inorganic growth and integration.
The stability of dividend payments, despite the volatility in net income observed over the last ten quarters, suggests a conservative capital allocation philosophy. However, the minimal share buyback activity in recent periods implies that management currently prioritizes liquidity and acquisition capacity over aggressive capital return to shareholders.
Based on the company's reported figures, the provision for credit losses fluctuated from a peak of $68.9 million in 2025Q1 to net recoveries in 2026Q1, highlighting the significant impact of CECL-driven accounting adjustments on the bank's reported cash flow and earnings quality.
This extreme variance in provisioning suggests that management's forward-looking economic models are highly sensitive to regional macroeconomic forecasts. Investors should look past these accounting-driven swings to assess the actual credit performance of the loan book, particularly given the bank's increasing exposure to metropolitan commercial real estate.
Quick answers to the most common questions about buying WSBC stock.
WesBanco, Inc. (WSBC) generated $290.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
WesBanco, Inc. (WSBC) generated $280.0M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
WesBanco, Inc. (WSBC) spent $10.4M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, WesBanco, Inc. (WSBC) returned $140.3M to shareholders via cash dividends and spent $151.1M on share repurchases. This shows the company's commitment to returning capital to its equity investors.