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.
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.
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.
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.
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.
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.
WesBanco (Nasdaq: WSBC) has announced a quarterly cash dividend on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq: WSBCP). The dividend is $0.421875 per depositary share or $16.875 per share of Series A Preferred Stock. This dividend covers the period from May 15, 2024, to August 15, 2024, and will be payable on August 15, 2024, to shareholders on record as of August 1, 2024.
Founded in 1870, WesBanco spans six states, operating more than 190 financial centers and offering a wide range of banking, trust, and investment services. As of March 31, 2024, it manages approximately $5.6 billion in assets.
WesBanco (Nasdaq: WSBC) has appointed Patrick O'Malley as the Charleston/Huntington/Southeast Ohio Market President and Senior Commercial Banker. O'Malley, previously Market President for Truist bank's West Virginia region, brings nearly 20 years of banking experience. He will focus on driving commercial lending performance and optimizing local market opportunities across various business lines including Retail and Wealth Management. O'Malley holds degrees from the University of Richmond and West Virginia University. WesBanco operates over 190 financial centers across six states and manages approximately $5.6 billion in assets.
WesBanco (Nasdaq: WSBC) announced a quarterly cash dividend of $0.36 per share, payable on July 1, 2024, to shareholders of record as of June 7, 2024. This equates to an annualized dividend rate of $1.44 per common share. Founded in 1870, WesBanco is a diversified financial services company operating over 190 financial centers across six states. The company offers a wide range of banking, trust, wealth management, and insurance services, with approximately $5.6 billion in assets under management as of March 31, 2024.
FAQ
What is the current stock price of WesBanco (WSBC)?
What is the market cap of WesBanco (WSBC)?
What services does WesBanco Inc. offer?
Where is WesBanco headquartered?
How many financial centers does WesBanco operate?
Who is the current CEO of WesBanco?
What are WesBanco’s core business segments?
What is WesBanco's approach to customer service?
How has WesBanco performed financially recently?
What are WesBanco's strategic initiatives for growth?
Where can I learn more about WesBanco's services and updates?
What recent changes have occurred in WesBanco’s leadership?
