WesBanco

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WesBanco Bank, Inc.
Public
Traded as NASDAQWSBC
Industry Financial, investments, and insurance
Founded Wheeling, West Virginia, USA (January 20, 1870)
Headquarters 1 Bank Plaza,
Wheeling WV 26003
Key people

Todd F. Clossin (President and CEO)

James C. Gardill (Chairman)
Products Retail banking
Consumer finance
Investment banking
Total assets US $9,900,000,000.00
($9.9 billion)
Number of employees
1368 [1]
Website www.wesbanco.com

WesBanco is a bank holding company headquartered in Wheeling, West Virginia. Initially chartered on January 20, 1870, as "The German Bank",[2] the bank is the namesake of the WesBanco Arena, which is home to the Wheeling Nailers hockey team. WesBanco has 173 Banking Centers and 164 automatic teller machines (ATMs) throughout West Virginia, Ohio, Western Pennsylvania, Kentucky, and Southern Indiana.[3][4] It is the largest bank based in West Virginia, the second-largest behind BB&T based on total deposits in the state, and the only one with a significant presence outside of the state. Among major markets served include Pittsburgh, Columbus, Charleston, Dayton, Louisville, and Lexington.

WesBanco Bank, Inc., is a member FDIC. Deposit and non-deposit products are available through the WesBanco companies. Nondeposit investment products including mutual funds, and insurance products including annuities, are not insured by the FDIC, or any other government agency, are not deposits or other obligations of, or guaranteed by the bank or its affiliates, and are subject to investment risks including the potential loss of principal.

Western Pennsylvania expansion[edit]

In late 2012 Wesbanco merged with the Pittsburgh-based Fidelity Bancorp Inc. Remaining Fidelity branches were converted into Wesbanco branches.[5] It further expanded its Pittsburgh-area presence with the purchase of Ellwood City-based ESB Financial Corporation in late 2014, converting those branches to WesBanco in April 2015.[4] The two deals placed WesBanco among the top ten banks in the Pittsburgh metropolitan area by deposits, after it had a handful of branches it opened organically in Washington, Pennsylvania.[4]

Kentucky and Southern Indiana expansion[edit]

On August 19, 2016, the shareholders of Your Community Bankshares approved the merger through adoption of the previously announced agreement and Plan of Merger, pursuant to which Your Community Bankshares will merge with and into WesBanco[6] (slated for November 4, 2016). By merging with Your Community Bank, WesBanco expands its Banking Center footprint into the Kentucky and Southern Indiana areas.

References[edit]

  1. ^ "WSBC Profile - WesBanco, Inc. Stock - Yahoo Finance". Yahoo.com. Retrieved February 4, 2017. 
  2. ^ "History". WesBanco.com. Retrieved February 4, 2017. 
  3. ^ "WesBanco, Inc. Common Stock (WSBC)". Nasdaq.com. Retrieved February 4, 2017. 
  4. ^ a b c Merger costs trim WesBanco's 1Q profit Pittsburgh Business Times (04/29/2015)
  5. ^ Tascarella, Patty. "WesBanco/Fidelity deal may close Friday". American City Business Journals. Retrieved 7 January 2013. 
  6. ^ "WesBanco, Inc. Receives Regulatory Approvals of Its Merger with Your Community Bankshares, Inc.", PRNewswire, WHEELING, 22 August 2016. Retrieved on 19 October 2016.

External links[edit]