WesBanco Bank Again Receives the America Saves Designation of Savings Excellence

Rhea-AI Summary

On July 7, 2020, WesBanco, Inc. (NASDAQ: WSBC) announced its affiliate WesBanco Bank has received the 2020 America Saves Designation of Savings Excellence. The award recognizes financial institutions that effectively encourage customers to save money. WesBanco's partnership with America Saves has spanned over 14 years, promoting savings in six states. In the most recent America Saves Week, it helped nearly 125,000 customers deposit $363.8 million into savings accounts. This marks the fifth consecutive year that WesBanco has received this honor, highlighting its commitment to community financial wellbeing.

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• WesBanco Bank received the 2020 America Saves Designation of Savings Excellence for promoting savings.
• The bank helped deposit $363.8 million into savings accounts during America Saves Week.
• Recognition marks the fifth consecutive year of receiving this award, indicating consistent performance.
• WesBanco serves six states, enhancing its market presence and reach.

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WHEELING, W.Va., July 7, 2020 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank, was recently recognized with the 2020 America Saves Designation of Savings Excellence for its extraordinary efforts during America Saves Week to encourage customers to save money.  The award is presented annually to financial institutions that demonstrate success encouraging and supporting their customers to save money and establish automatic savings plans.

WesBanco is proud of its more than 14-year partnership with America Saves to provide valuable financial resources to educate and encourage individuals about savings.  Across Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia, WesBanco actively encourages savings year-round with special products designed to encourage personal savings.  In addition, WesBanco has become a participating employer in the Split-to-Save program, which motivates employees to split a portion of their regular pay for a savings goal of their choice to help with the stress and worry that comes about with financial emergencies and other issues.

"WesBanco is proud to be recognized by America Saves, for the fifth consecutive year, for our organization's efforts to encourage personal savings," said Jennifer Mott, WesBanco's Executive Vice President for Retail.  "For 150 years, our commitment to serving our neighbors and their businesses has never wavered, which is one of the key reasons we were again recently named one of the world's best banks by Forbes magazine.  WesBanco prides itself on delivering large bank capabilities with a community bank feel, and is fortunate to be in a position to provide support to others during this unprecedented time.  Our customer-centric service culture is focused on building long-term relationships by pledging to serve our customers' personal financial needs.  In addition, our employees collectively dedicate thousands of hours per year to savings education, including participation in Teach Children to Save, Get Smart about Credit, and Split-to-Save initiatives."

"WesBanco's extraordinary efforts to encourage and support their customers to save money and establish an automatic savings plan during America Saves Week deserves recognition and distinct honor, particularly as the COVID-19 pandemic reached a crisis stage just a few days after America Saves Week concluded," said George Barany, Director of America Saves.  "Because of their commitment to their communities, it's possible the individuals and families they reached were better equipped to handle the many financial stressors that arose in the following days."

America Saves Week is an annual event for people to assess their financial status and make a simple savings action plan that starts or increases their savings.  The event is coordinated by America Saves, with input from planning support that includes federal government agencies, financial institutions, and non-profit organizations and educators.  This is the sixth year of the America Saves Designation of Savings Excellence Award.  WesBanco Bank was one of only seven banks and five credit unions honored with this distinction.  These financial institutions encouraged nearly 125,000 customers to deposit $363,847,982 into new and existing savings accounts during America Saves Week.

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.  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 $4.1 billion of assets under management (as of March 31, 2020).  WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 236 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.

About America Saves
America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth.  America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week.  Learn more at americasaves.org and americasavesweek.org.

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SOURCE WesBanco, Inc.

FAQ

What is the America Saves Designation of Savings Excellence awarded to WSBC?

The America Saves Designation of Savings Excellence recognizes financial institutions that successfully encourage customers to save money.

How much did WesBanco Bank help customers save during America Saves Week?

WesBanco Bank helped nearly 125,000 customers deposit approximately $363.8 million into savings accounts during America Saves Week.

How long has WesBanco partnered with America Saves?

WesBanco has partnered with America Saves for over 14 years to promote savings education.

How many times has WSBC received the America Saves Designation?

WesBanco has received the America Saves Designation of Savings Excellence for five consecutive years.