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WesBanco Inc - WSBC STOCK NEWS

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.

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.

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WesBanco Bank, a subsidiary of WesBanco, Inc. (Nasdaq: WSBC), has appointed Cris Gossard as Central Ohio Market President and Senior Commercial Banker. This strategic move aims to enhance the bank's market presence and drive growth in commercial lending in the region. Gossard, who joined WesBanco in 2022, brings over 30 years of experience in commercial sales and banking. He will collaborate with leaders across various business lines to optimize local market opportunities and support customers' banking needs.

Gossard's appointment aligns with WesBanco's commitment to delivering exceptional banking services in Central Ohio. With $18.1 billion in total assets and $5.6 billion in assets under management, WesBanco continues to strengthen its position as a community-focused, regional financial services partner across its eight-state footprint.

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WesBanco, Inc. (NASDAQ: WSBC), a diversified, multi-state bank holding company, has declared a quarterly cash dividend of $0.36 per share for its common stock shareholders. The dividend will be paid on October 1, 2024, to shareholders of record on September 6, 2024. This represents an annualized cash dividend rate of $1.44 per common share.

WesBanco, with over 150 years of experience, operates across eight states, offering a comprehensive range of banking, trust, brokerage, wealth management, and insurance services. As of June 30, 2024, the company reported total assets of $18.1 billion, with Trust and Investment Services managing $5.6 billion in assets and securities account values of $1.8 billion through its broker/dealer.

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WesBanco, Inc. (Nasdaq: WSBC) has been recognized as one of America's Greatest Workplaces for Parents and Families 2024 by Newsweek and Plant-A Insights Group. The company received a five-star rating, one of only seven banks to achieve this highest performance mark. WesBanco fosters a supportive workplace culture through various initiatives, including:

  • Family-friendly policies prioritizing work-life balance
  • Health and wellness programs
  • Employee educational assistance
  • Diverse and inclusive workplace culture

In WesBanco's 2023 employee engagement survey, about 90% of respondents recommended it as a great place to work. This recognition comes amid rising rates of households with two working parents and increasing working-parent burnout. WesBanco's commitment to creating a supportive environment for parents and families aligns with the growing demand for employers who offer flexibility and work-life balance.

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Premier Financial Corp. (Nasdaq: PFC) has announced their second quarter 2024 financial results and a strategic merger with Wesbanco, Inc. (Nasdaq: WSBC). The merger, valued at approximately $987 million, will see PFC shareholders receive 0.80 shares of WSBC common stock for each PFC share, holding 30% of the combined company upon closure in Q1 2025.

PFC reported a Q2 2024 net income of $16.2 million, or $0.45 per diluted share, down from $48.4 million, or $1.35 per diluted share, in Q2 2023. Excluding the $32.6 million gain from the sale of First Insurance Group in Q2 2023, net income for Q2 2023 was $24.2 million. Net interest income fell 8.8% YoY to $49.3 million, and non-interest income also declined 6.5% to $12.1 million.

Non-interest expenses reduced by 6.6% YoY to $38.2 million. Credit quality issues emerged with non-performing assets rising to $64.6 million, and loan delinquencies increasing to $24.6 million. PFC's total assets at June 30, 2024, were $8.78 billion.

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WesBanco (NASDAQ: WSBC) and Premier Financial Corp. (NASDAQ: PFC) have announced a transformative merger, creating a regional financial institution with over $27 billion in assets. The all-stock transaction, valued at approximately $959 million, will see Premier shareholders receive 0.80 shares of WesBanco stock for each Premier share. WesBanco has also secured $200 million in capital commitments to support the merger.

Key highlights:

  • Transaction valued at $26.66 per Premier share
  • Expected to be 40% accretive to 2025 earnings
  • Estimated tangible book value dilution of 13% at closing
  • Combined entity to become the 8th largest bank in Ohio
  • Merger expected to close in Q1 2025
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WesBanco (Nasdaq: WSBC) reported Q2 2024 financial results, with net income of $26.4 million and diluted EPS of $0.44, down from $42.3 million and $0.71 in Q2 2023. Key highlights include:

- Total loan growth of 10.1% year-over-year and 3.2% quarter-over-quarter
- Deposits increased 4.4% year-over-year to $13.4 billion
- Net interest margin of 2.95%, up 3 basis points sequentially
- Non-interest income of $31.4 million, down 1.5% year-over-year
- Strong regulatory capital ratios with CET 1 at 10.58%

The company maintained positive momentum with solid loan and deposit growth, while focusing on cost control and strategic investments.

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WesBanco Bank has earned the America Saves Designation of Savings Excellence (DOSE) award for the ninth consecutive year, recognizing its exceptional efforts during America Saves Week. WesBanco is one of only nine banks out of 4,600 participating organizations to receive this honor. The bank's initiatives included:

1. Enrolling over 1,800 individuals in its Savers program across five states
2. Launching a partnership with Veteran Saves
3. Hosting financial literacy outreach programs
4. Implementing the Split-to-Save program for employees

During America Saves Week, participating institutions encouraged nearly $354 million in deposits and opened 231,000 new accounts. This award highlights WesBanco's commitment to financial literacy and customer empowerment.

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WesBanco, Inc. (Nasdaq: WSBC) has been recognized as one of America's Greatest Workplaces for 2024 by Newsweek and Plant-A Insights Group. The company received a 4.5 out of 5-star rating, placing among fewer than 30 banks in the ranking. This recognition is based on a comprehensive survey of over 250,000 U.S. employees, covering aspects such as compensation, benefits, work-life balance, and company culture.

WesBanco's commitment to fostering a positive workplace environment is evident through various initiatives, including:

  • A Diversity, Equity and Inclusion (DEI) Council
  • Health and wellness programs
  • Flexible work arrangements
  • Talent development and succession planning
  • Employee educational assistance

The company's 2023 employee engagement survey showed high satisfaction levels, with 95% of respondents finding their work fulfilling and 90% recommending WesBanco as a great place to work.

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WesBanco (Nasdaq: WSBC), a diversified multi-state bank holding company, has appointed Kimberly Griffith as Senior Executive Vice President and Group Head of Human Resources and Facilities. Griffith, a longstanding WesBanco employee, previously served in an interim capacity, ensuring leadership continuity during Anthony Pietranton's leave. She will focus on advancing HR and facilities management standards, supporting talent initiatives, and enhancing employee experience. Griffith's 20+ years of HR expertise and her leadership through mergers and acquisitions have been pivotal in the company’s growth. WesBanco operates over 190 financial centers across six states with a strong emphasis on customer-centric service.

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WesBanco (Nasdaq: WSBC), a diversified, multi-state bank holding company, will host a conference call on July 26, 2024, at 10:00 a.m. ET to discuss its Q2 2024 financial results. Key executives, including President & CEO Jeffrey H. Jackson and CFO Daniel K. Weiss, Jr., will review the performance. The results will be released post-market on July 25, 2024. The live webcast can be accessed through the company's website, and the call can be joined via specific phone numbers. A replay will be available until August 9, 2024. WesBanco operates over 190 financial centers across six states and manages $5.6 billion in assets as of March 31, 2024.

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FAQ

What is the current stock price of WesBanco (WSBC)?

The current stock price of WesBanco (WSBC) is $33.36 as of December 24, 2024.

What is the market cap of WesBanco (WSBC)?

The market cap of WesBanco (WSBC) is approximately 2.2B.

What services does WesBanco Inc. offer?

WesBanco Inc. offers a full range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking, and insurance.

Where is WesBanco headquartered?

WesBanco is headquartered in Wheeling, West Virginia.

How many financial centers does WesBanco operate?

WesBanco operates more than 190 financial centers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia.

Who is the current CEO of WesBanco?

Jeffrey H. Jackson is the current President and Chief Executive Officer of WesBanco, having assumed the role on August 1, 2023.

What are WesBanco’s core business segments?

WesBanco’s core business segments are community banking and trust and investment services.

What is WesBanco's approach to customer service?

WesBanco merges advanced technology with personal customer service, ensuring efficient and effective service delivery while maintaining a community bank orientation.

How has WesBanco performed financially recently?

WesBanco has shown solid financial performance with notable highlights such as an 8.7% year-over-year increase in total portfolio loans as of the end of 2023.

What are WesBanco's strategic initiatives for growth?

WesBanco focuses on sustainable growth strategies, including expanding its market presence, leveraging technology, and maintaining strong capital levels and credit quality.

Where can I learn more about WesBanco's services and updates?

Visit WesBanco's official website at www.wesbanco.com and follow them on Facebook, LinkedIn, and X, formerly known as Twitter.

What recent changes have occurred in WesBanco’s leadership?

Jeffrey H. Jackson became the President and CEO on August 1, 2023, continuing the company's vision for growth and innovation.

WesBanco Inc

Nasdaq:WSBC

WSBC Rankings

WSBC Stock Data

2.23B
64.81M
2.93%
68.88%
3.02%
Banks - Regional
National Commercial Banks
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United States of America
WHEELING