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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, Inc. (Nasdaq: WSBC) has been ranked the #10 Best Bank in America by Forbes for 2021, marking its twelfth appearance on the list since 2010 and its third consecutive year in the top 12. This ranking evaluates the 100 largest publicly traded banks based on metrics such as growth, credit quality, and profitability. WesBanco emphasizes its commitment to community relationships and customer service, which have been pivotal during the pandemic. With over $5.6 billion in assets under management, the bank continues to expand its services across six states.
WesBanco, Inc. (Nasdaq: WSBC) announced that President and CEO Todd F. Clossin and CFO Daniel K. Weiss, Jr. will participate in the KBW Winter Financial Services Symposium on February 17-18, 2022, in Boca Raton, FL. The conference will not feature formal presentations or webcasts. Founded in 1870, WesBanco is a diversified financial services company with approximately $5.6 billion in assets under management as of December 31, 2021. The bank operates 205 centers across six states, offering a comprehensive range of banking and wealth management services.
WesBanco (WSBC) reported a successful end to 2021, with net income of $51.6 million for Q4, up from $50.2 million in Q4 2020, translating to diluted EPS of $0.82. For the full year, net income surged to $232.1 million ($3.53 EPS), compared to $119.4 million ($1.77 EPS) in 2020. Trust assets hit a record $5.6 billion, and deposits grew 13.5% year-over-year. Despite lower net interest income and non-interest income declines, the bank maintained strong capital ratios, and repurchased 1.56 million shares in Q4, highlighting robust shareholder returns.
WesBanco has declared a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP). This dividend is for the period from November 15, 2021 to February 15, 2022, payable on February 15, 2022 to shareholders of record as of February 1, 2022.
WesBanco, a diversified financial services company, operates across six states with a strong market presence.
WesBanco, Inc. (Nasdaq:WSBC) will host a conference call on January 26, 2022, at 10:00 a.m. ET to discuss its fourth-quarter 2021 financial results, which will be released after market close on January 25, 2022. CEO Todd F. Clossin and CFO Daniel K. Weiss, Jr. will lead the discussion. Interested participants can join via the company's website or by calling specific numbers for various regions. A replay will be available starting January 26 at 12:00 p.m. ET until February 9. WesBanco operates in six states, focusing on community banking with a strong asset management presence.
WesBanco, Inc. (Nasdaq:WSBC) announced a quarterly cash dividend of $0.33 per share, payable on January 3, 2022, to shareholders of record as of December 10, 2021. This dividend reflects an annualized rate of $1.32 per common share. The declaration signifies WesBanco's ongoing commitment to returning value to its shareholders.
WesBanco reported net income of $41.9 million with a diluted EPS of $0.64 for Q3 2021, a slight increase from $41.3 million and $0.61 per diluted share in Q3 2020. For the first nine months, net income surged to $180.5 million or $2.71 per diluted share compared to $69.2 million or $1.03 in the same period last year. Notably, deposit growth reached 10.0% year-over-year, and the company repurchased 2.1 million shares. However, net interest income declined by $5.3 million or 4.4% in Q3, attributed to lower loan yields in a low interest rate environment.
WesBanco, Inc. (Nasdaq:WSBC) has announced a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq:WSBCP). This dividend covers the period from August 15, 2021 to November 15, 2021, payable on November 15, 2021. Shareholders of record as of November 1, 2021 will receive this distribution, amounting to $16.875 per share. This announcement reflects WesBanco's commitment to returning value to its investors.
WesBanco, Inc. (Nasdaq: WSBC) announced its affiliate, WesBanco Bank Community Development Corporation (CDC), received the 2021 Community Commitment Award from the American Bankers Association Foundation. The award recognizes the New Markets Loan Program (NMLP) for its contributions to community and economic development across six states. WesBanco CDC has secured a total of $125 million in New Markets Tax Credit awards since 2004, facilitating numerous business loans and community support initiatives. This recognition reflects WesBanco's ongoing commitment to serving low-income communities and promoting economic vitality.
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