WesBanco Named the #10 Best Bank in America by Forbes

Rhea-AI Summary

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.

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• Ranked #10 Best Bank in America by Forbes for 2021.
• Twelfth year on Forbes list; sustained presence signifies strong market position.
• Emphasis on community relationships and customer support enhances brand loyalty.
• Approximately $5.6 billion in assets under management as of December 31, 2021.

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• None.

WHEELING, W.Va., Feb. 10, 2022 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank has been named the #10 Best Bank in America by Forbes.  The 2021 ranking is WesBanco's twelfth year on the list since its inception in 2010, and third year in a row in the top 12.  The Forbes annual list ranks the 100 largest publicly traded banks and thrifts by assets based on ten metrics related to growth, credit quality, and profitability.

"WesBanco is thrilled to again be named one of the ten best banks in America by Forbes," said Todd F. Clossin, WesBanco President and Chief Executive Officer.  "We strive to offer the tools and support 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.  We have always championed the community first, which has empowered our customers to make confident financial choices to reach their personal and professional goals."

Mr. Clossin continued, "We have spent the past 150 years focused on nurturing relationships with our neighbors and community businesses.  This focus only grew throughout the pandemic, proven by the dedication of our employees who worked tirelessly to maintain a sense of security and community for the tens of thousands of customers WesBanco serves daily.  By not losing touch with our hometown banking roots, including building relationships within our communities and prioritizing the customer experience, we have been able to deliver a premier financial institutional experience across all markets."

WesBanco prides itself on delivering large bank capabilities with a community bank feel; and, it's 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 S&P Global Market Intelligence for 13 years on its America's Best Banks ranking, which is based on metrics related to growth, credit quality, and profitability through September 30, 2021.  These metrics include operating revenue growth, return on average tangible common equity, return on average assets, net interest margin, net charge-offs as a percentage of total loans, nonperforming assets as a percentage of 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.  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 $5.6 billion of assets under management (as of December 31, 2021).  WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 205 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.

FAQ

What ranking did WesBanco receive from Forbes in 2021?

WesBanco was ranked #10 Best Bank in America by Forbes in 2021.

How many years has WesBanco appeared on Forbes' Best Banks list?

WesBanco has appeared on Forbes' Best Banks list for twelve years since 2010.

What are some metrics used by Forbes to rank banks?

Forbes ranks banks based on metrics like growth, credit quality, profitability, and several financial ratios up to September 30, 2021.

What is the asset management amount for WesBanco as of December 31, 2021?

WesBanco has approximately $5.6 billion in assets under management as of December 31, 2021.

Which states does WesBanco operate in?

WesBanco operates in Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia.