Welcome to our dedicated page for Wesbanco news (Ticker: WSBC), a resource for investors and traders seeking the latest updates and insights on Wesbanco stock.
Overview
WesBanco, Inc. (WSBC) is a diversified, multi-state bank holding company rooted in a strong community banking tradition, offering a comprehensive suite of financial services. As a company that merges advanced technology with a personal, community-focused approach, WesBanco delivers retail banking, corporate banking, trust services, brokerage, mortgage banking, and insurance solutions across its extensive regional footprint.
Core Business and Services
The company is organized around two primary business segments: Community Banking and Trust & Investment Services. Its Community Banking segment provides traditional banking products such as deposit accounts, various types of loans including mortgage and installment loans, and non-traditional offerings like insurance and securities brokerage. In parallel, the Trust & Investment Services segment focuses on providing personalized wealth management and corporate trust services, enabling clients to manage and grow their financial assets.
Market Position and Competitive Landscape
WesBanco maintains a significant presence in its regional markets by leveraging its strong local relationships and a customer-centric model. The integration of technology with high-touch customer service positions the company as a smart and agile financial partner. Operating with a strong community orientation, WesBanco distinguishes itself from competitors through its commitment to security, sound banking practices, and comprehensive service delivery. Its strategic merger initiatives further reinforce its competitive edge by increasing geographic reach and operational scale.
Business Model and Operational Excellence
The company generates revenue through a balanced mix of interest income from loans and investments, and non-interest income from fees across its various services. WesBanco has built a reputation for prudent risk management and strong credit quality, underpinning its long-standing profitability and financial stability. The company’s operational strategy emphasizes efficiency, cost control, and robust deposit and loan growth, all while maintaining a focus on personalized community service.
Customer Commitment and Technological Integration
With deep historical roots in community banking, WesBanco never loses sight of the responsibility entrusted by its customers. The company strategically merges emerging technology with traditional banking values, ensuring timely and personalized service tailored to the evolving needs of both individual and corporate clientele. This dual focus strengthens customer trust and serves as a foundation for long-term growth and stability.
Strategic Initiatives and Value Proposition
WesBanco’s strategic actions, including merger transactions and targeted capital enhancements, have fortified its balance sheet and expanded its service capabilities. The company is recognized for its operational discipline, sound risk management, and the ability to foster enduring community relationships. By aligning large bank resources with local market insights, WesBanco continues to provide a value proposition that benefits customers, communities, and shareholders alike.
Conclusion
In summary, WesBanco, Inc. stands as a testament to the blend of tradition and innovation in the financial services industry. Its robust business model, community-focused approach, and integration of advanced technologies contribute to its reputation as a safe, sound, and customer-sensitive financial institution. Whether through its extensive network of branches or its diverse service offerings, WesBanco exemplifies operational excellence and steadfast commitment to those whose money it holds.
WesBanco (WSBC) has successfully completed its acquisition of Premier Financial Corp, creating a regional financial institution with approximately $27 billion in assets. The merger positions WesBanco as the 81st largest insured depository organization in the United States and the 8th largest bank in Ohio.
The combined entity will operate through more than 250 financial centers across nine states: Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. Former Premier directors Zahid Afzal, John L. Bookmyer, Louis M. Altman, and Lee J. Burdman have been appointed to WesBanco's Board of Directors.
Former Premier financial centers will continue operating under the Premier Bank name until customer and data conversion occurs in mid-May 2025, after which all locations will be rebranded as WesBanco.
WesBanco (WSBC) has declared a quarterly cash dividend of $0.37 per share to be paid on April 1, 2025, to shareholders of record on March 10, 2025. This represents an annualized cash dividend rate of $1.48 per common share.
The multi-state bank holding company, with over 150 years of community-focused service, operates across eight states offering retail and commercial banking, trust, brokerage, wealth management, and insurance services. As of December 31, 2024, WesBanco reported total assets of $18.7 billion, with Trust and Investment Services managing $6.0 billion in assets and securities account values of $1.9 billion through their broker/dealer division.
WesBanco (WSBC) has been named to Newsweek's 2025 America's Best Regional Banks list, highlighting its 155-year legacy as a community-focused financial services partner. President & CEO Jeff Jackson emphasized the bank's commitment to community development and exceptional financial services.
The recognition was based on a comprehensive evaluation process that included:
- Profitability and net loans/leases assessment
- Press coverage analysis over two years
- Survey of over 71,000 U.S. citizens
- Review of 1.9 million social media posts
- Analysis of 129 million app store reviews
This achievement adds to WesBanco's recent accolades, including recognition on Newsweek's lists of America's Greatest Workplaces and Greatest Workplaces for Parents & Families. The bank also maintained its eighth consecutive 'Outstanding' FDIC Community Reinvestment Act Rating and was listed on Forbes' inaugural America's Most Trusted Companies list.
WesBanco (WSBC) and Premier Financial Corp. (PFC) have received all necessary regulatory approvals for their pending merger, following overwhelming shareholder approval from both companies on December 11, 2024. The merger is expected to close around February 28, 2025, subject to customary closing conditions.
The combined entity will create a regional financial services institution with approximately $27 billion in assets. The merger will establish the 8th largest bank in Ohio by deposit market share, with expanded presence in Indiana and operations across nine states. WesBanco currently holds $18.7 billion in total assets, with Trust and Investment Services managing $6.0 billion in assets and $1.9 billion in securities account values through their broker/dealer as of December 31, 2024.
WesBanco (WSBC) reported Q4 2024 net income of $47.1 million ($0.70 per share), up from $32.4 million ($0.55 per share) in Q4 2023. Full-year 2024 net income was $141.4 million ($2.26 per share), compared to $148.9 million ($2.51 per share) in 2023.
The bank achieved strong loan growth of $1 billion (8.7% year-over-year), matched by deposit growth of $1 billion (7.3% year-over-year). Total portfolio loans reached $12.7 billion, while deposits stood at $14.1 billion. The net interest margin improved to 3.03%, up 8 basis points from Q3.
Q4 non-interest income increased 21% year-over-year to $36.4 million, driven by higher swap fees, service charges, and trust fees. Credit quality metrics remained favorable compared to peer banks, with non-performing assets at 0.22% of total assets.
Premier Financial Corp. (PFC) reported fourth quarter 2024 net income of $20.8 million, or $0.58 per diluted share, compared to $20.1 million ($0.56 per share) in Q4 2023. Excluding merger transaction costs, Q4 2024 earnings were $22.6 million or $0.63 per share.
Key Q4 highlights include a net interest margin increase to 2.63% (up 13 basis points from Q3), and an improved efficiency ratio of 57.1% excluding transaction costs. Total loans decreased by $115.7 million during Q4, while deposits declined by $292.8 million.
For full-year 2024, PFC reported net income of $71.4 million ($1.98 per share), down from $111.3 million ($3.11 per share) in 2023. The company announced a strategic merger with Wesbanco, Inc., where PFC shareholders will receive 0.80 shares of WSBC common stock for each PFC share, ultimately owning approximately 30% of the combined company.
WesBanco (Nasdaq: WSBC) has been recognized among Forbes' 2025 Most Trusted Companies in America, joining an elite group of 300 public companies. This recognition highlights the bank's dedication to its Mission, Vision and Pledge, which have guided its operations for nearly 155 years.
The prestigious listing was compiled through a partnership between Forbes and research firms HundredX, Signal AI, and Glassdoor, analyzing data across four key categories: employee trust, customer trust, investor trust, and media sentiment.
This achievement adds to WesBanco's growing list of accolades, including being named one of America's Best Banks by Forbes in 2024 and maintaining an 'Outstanding' FDIC Community Reinvestment Act Rating for eight consecutive evaluations. The latter recognition specifically acknowledges the bank's success in meeting community credit needs, particularly in low- and moderate-income neighborhoods.
WesBanco Inc (NASDAQ: WSBC) has announced its upcoming fourth quarter 2024 earnings conference call, scheduled for January 23, 2025, at 3:00 p.m. ET. The financial results will be released after market close on January 22, 2025. President and CEO Jeffrey H. Jackson and CFO Daniel K. Weiss, Jr. will lead the presentation.
The company, with $18.5 billion in total assets as of September 30, 2024, manages $6.1 billion in Trust and Investment Services assets and $1.9 billion in securities account values. WesBanco operates across eight states, offering retail and commercial banking, trust, brokerage, wealth management, and insurance services through its 150-year history as a community-focused financial institution.
WesBanco (Nasdaq: WSBC) has announced a quarterly cash dividend on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP). The dividend of $0.421875 per depositary share ($16.875 per preferred share) covers the period from November 15, 2024, to February 15, 2025. The dividend will be paid on February 15, 2025, to shareholders of record as of February 1, 2025.
WesBanco operates as a regional financial services provider across eight states, managing $18.5 billion in total assets. The company's Trust and Investment Services division oversees $6.1 billion in assets under management, with securities account values of $1.9 billion through its broker/dealer as of September 30, 2024.
WesBanco (WSBC) and Premier Financial Corp. (PFC) have secured shareholder approval for their merger agreement, with 85% of WesBanco votes and 68% of Premier votes supporting the transaction. The merger, expected to close in Q1 2025 pending regulatory approvals, will create a regional financial institution with approximately $27 billion in assets.
The combined entity will become the 8th largest bank in Ohio by deposit market share, with expanded presence in Indiana and operations across nine states. WesBanco currently holds $18.5 billion in total assets, with $6.1 billion in assets under management and $1.9 billion in securities account values through their broker/dealer as of September 30, 2024.
FAQ
What is the current stock price of Wesbanco (WSBC)?
What is the market cap of Wesbanco (WSBC)?
What main services does WesBanco offer?
How is WesBanco structured organizationally?
What distinguishes WesBanco's business model?
How does WesBanco generate its revenue?
What role does technology play in WesBanco's operations?
How does WesBanco manage risk and maintain credit quality?
What is unique about WesBanco's market positioning?
How does WesBanco ensure operational excellence?
