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WesBanco Inc. (Nasdaq: WSBC) is a seasoned bank holding company headquartered in Wheeling, West Virginia. WesBanco has built a distinguished reputation over the past decade for being a secure, sound, and profitable organization.
WesBanco operates primarily through its subsidiary, WesBanco Bank, Inc., which runs over 190 financial centers across six states, including Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia. The company offers a comprehensive range of financial services, encompassing retail and corporate banking, personal and corporate trust services, brokerage services, mortgage banking, and insurance. WesBanco's services are designed to meet the diverse needs of individuals, businesses, and communities.
One of WesBanco's key strengths lies in its dual focus on technology and personal customer service. By leveraging advanced technology and maintaining a community bank orientation, WesBanco ensures efficient and effective service delivery. The company’s banking operations are divided into two main segments: community banking and trust and investment services.
In the realm of financial stability, WesBanco has demonstrated solid performance. For instance, as of the end of 2023, the company reported total portfolio loans of $11.6 billion, an 8.7% year-over-year increase. They also maintained a robust net interest margin, despite industry challenges such as rising federal fund rates.
WesBanco’s leadership team has also seen recent changes, with Jeffrey H. Jackson assuming the role of President and Chief Executive Officer as of August 1, 2023. Jackson's leadership is expected to build on the firm foundation laid by his predecessor, focusing on further growth and innovation.
WesBanco is also committed to maintaining strong capital levels and credit quality, ensuring a secure financial environment for its stakeholders. The company’s distinct long-term growth strategies and sustainable competitive advantages enable it to serve its markets effectively.
For more information, visit www.wesbanco.com and follow WesBanco on Facebook, LinkedIn, and X, formerly known as Twitter.
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.
WesBanco (WSBC) and Premier Financial Corp. (PFC) announced shareholder approval for their merger agreement, with 85% of WesBanco votes and 68% of Premier votes supporting the deal. The merger, expected to close in Q1 2025 pending regulatory approvals, will create a $27 billion asset regional financial institution.
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 as of September 30, 2024.
WesBanco Inc. (Nasdaq: WSBC) has appointed Jan Pattishall-Krupinski as Senior Executive Vice President and Chief Administrative Officer, effective immediately. In her new role, she will oversee bank and loan operations, customer service, corporate strategy, and project management, reporting directly to CEO Jeff Jackson. Pattishall-Krupinski, who joined WesBanco in 2011, previously served as Executive Vice President and Director of Operations. The company, with $18.5 billion in total assets and $6.1 billion in assets under management, operates across eight states providing retail and commercial banking, trust, brokerage, wealth management, and insurance services.
WesBanco (WSBC) has announced a 2.8% increase in its quarterly cash dividend to $0.37 per common share, up from $0.36. The dividend will be paid on January 2, 2025, to shareholders of record on December 6, 2024. This marks the company's eighteenth dividend increase since 2010, representing a cumulative increase of 164%. The new annualized dividend rate is $1.48 per share, yielding approximately 4.2% based on the closing stock price of $35.26. WesBanco currently manages $18.5 billion in total assets, with $6.1 billion in assets under management and $1.9 billion in securities account values.
WesBanco (Nasdaq: WSBC) has appointed Chuck Chiatto as Western Pennsylvania Market President and Senior Commercial Banker. Chiatto, who brings over 20 years of commercial banking experience, will lead the growth of WesBanco's commercial lending business in the Western PA region, which includes 5 counties and more than 25 financial centers. He previously served as Senior Vice President at City National Bank and held positions at BB&T and Huntington Bank. Chiatto replaces Tony Rocco, who is retiring after 31 years of service. WesBanco currently manages $18.5 billion in total assets, with $6.1 billion in Trust and Investment Services assets under management.
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