Allowance for credit losses to total portfolio loans was 1.19%, decreasing $9.8 million from prior quarter due to payoffs and portfolio mix changes.
Deposits increased 58% year-over-year to $21.2 billion, including $6.9 billion from Premier and $849 million organic growth.
Efficiency ratio improved 10 percentage points year-over-year to 55.5%, aided by planned acquisition cost savings.
Fee income grew 40% year-over-year to $44 million, driven by acquisition and organic growth.
For the quarter ending June 30, 2025, WesBanco reported net income excluding merger and restructuring expenses of $87.3 million and diluted earnings per share of $0.91, an increase of 86% year-over-year.
Net interest margin improved to 3.59%, driven by the Premier acquisition and loan growth.
Noninterest expense excluding restructuring and merger costs was $145.5 million, up 47.5% year-over-year due to acquisition-related expenses and higher FDIC insurance.
Returns on average assets and tangible equity improved to 1.3% and 17%, respectively.
Total assets increased 52% year-over-year to $27.6 billion, including $18.8 billion in total portfolio loans.
Total assets increased 52% year-over-year to $27.6 billion, including $18.8 billion in total portfolio loans and $4.4 billion in securities.
Total portfolio loans increased 53.6%, with $5.9 billion from Premier and $670 million organic growth.
Balance sheet strengthened with a $300 million delayed draw term loan at 4.1% fixed rate, expanded $1.5 billion line of credit, and a new commercial paper program.
Better same-property operations contributed $0.04 to the beat, split evenly between higher revenue growth and lower operating expenses.
Essex Property Trust reported solid second quarter 2025 results with Core FFO per share exceeding the midpoint of guidance by $0.07.
Lower G&A expenses were timing related and contributed positively to the quarter.
Net debt to EBITDA stands at 5.5x with $1.5 billion in available liquidity.
Revised full year Core FFO per share guidance increased by $0.10 to $15.91, driven by higher same-property revenue growth, lower expenses, and strong joint venture performance.
Structured finance book repayments are causing a temporary headwind to Core FFO growth, expected to largely abate after the next four quarters.
Third quarter Core FFO guidance is $3.94 at midpoint, a $0.09 sequential decline due to seasonal expense increases and preferred equity redemptions.
Washington property taxes declined 9% year-over-year, aiding expense reduction.
Dafinchi