WHEELING, W.Va., March 1, 2023 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank has been named one of the 2023 Best Banks in America by Forbes, representing WesBanco's thirteenth year on the list since its inception in 2010. The Forbes annual list ranks the 100 largest publicly traded banks and thrifts by assets based on nine metrics related to growth, credit quality, and profitability.
"WesBanco is excited to again be named one of the best banks in America by Forbes, as well as one of America's best employers," said Todd F. Clossin, WesBanco President and Chief Executive Officer. "Providing an environment where employees feel valued and are provided avenues for success encourages a strong customer-centric focus while helping to ensure a sound and profitable financial institution for our communities and shareholders. We strive to offer the full-range of online financial tools, products, services, and support that our clients need during every step of their financial journey, and this endorsement from Forbes proves to our current customers, and community members searching for a new banking partner, that WesBanco has the capabilities and track record to provide ongoing financial success."
Mr. Clossin continued, "We have spent the past 153 years nurturing relationships with our neighbors and community businesses, which has empowered our customers to make confident financial choices to reach their personal and professional goals. These efforts allowed us to have another successful year during 2022, as we generated solid annual net income, while remaining a well-capitalized financial institution with sound liquidity, balance sheet, and credit quality metrics, built upon our well-defined strategies and core advantages, which will ensure success regardless of the economic environment."
WesBanco prides itself on delivering large bank capabilities with a community bank feel; and, its services include the full range of online and mobile banking options; business and personal transaction account options and competitive lending services; a full suite of commercial banking products and services; and trust, wealth management, securities brokerage, and private banking services through the century-old Trust and Investment Services department.
Forbes has worked with data provided by S&P Global Market Intelligence for 14 years on its America's Best Banks ranking, which is based on metrics related to growth, credit quality, and profitability through September 30, 2022. These metrics include operating revenue growth, efficiency ratio, return on average tangible common equity, net interest margin, net charge-offs as a percentage of average loans, nonperforming assets as a percentage of total assets, reserves as a percentage of nonperforming assets, CET1 ratio (which compares a bank's capital against its risk-weighted assets), and risk-based capital ratio.
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a diversified and balanced financial services company that delivers large bank capabilities with a community bank feel. Our distinct long-term growth strategies are built upon unique sustainable advantages permitting us to span six states with meaningful market share. Built upon our 'Better Banking Pledge', our customer-centric service culture is focused on growing long-term relationships by pledging to serve all personal and business customer needs efficiently and effectively. Furthermore, our strong financial performance and employee focus has earned us recognition by Forbes as both one of America's Best Banks and Best Midsize Employers. In addition to a full range of online and mobile banking options and a full-suite of commercial products and services, WesBanco provides trust, wealth management, securities brokerage, and private banking services through our century-old Trust and Investment Services department, with approximately $4.9 billion of assets under management (as of December 31, 2022). WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 194 financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia. Additionally, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.
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SOURCE WesBanco, Inc.
