WesBanco Inc. operates as a diversified, multi-state bank holding company through WesBanco Bank, providing retail and commercial banking, mortgage banking, trust, brokerage, wealth management and insurance services. News about WSBC commonly centers on quarterly earnings, net interest margin, loan and deposit trends, credit costs, commercial real estate payoffs, and the performance of its Community Banking and Trust and Investment Services businesses.
Company updates also cover market expansion, including commercial banking growth in South Florida; common and Series B preferred stock dividends; executive and risk-management leadership; and recognition tied to regional banking, community reinvestment and customer service. WesBanco's completed Premier Financial acquisition is a recurring context for merger-related expenses, acquired loans and pro forma financial comparisons.
WesBanco, Inc. (Nasdaq: WSBC) announced the opening of a new loan production office in Indianapolis, targeting both commercial and residential mortgage lending. This move is part of its strategy for long-term growth, following a strong commitment to community relationships for over 150 years. The new office will be led by experienced bankers Michael McCulloch and Tony Thompson, tasked with developing client relationships. WesBanco has also received accolades, being named by Forbes as one of America's Best Banks and Best Midsize Employers.
WesBanco, Inc. (Nasdaq:WSBC) will host a conference call at 10:00 a.m. ET on April 27, 2022, to discuss its Q1 2022 financial results. The results are set to be released after market close on April 26, 2022. CEO Todd F. Clossin and CFO Daniel K. Weiss, Jr. will lead the discussion. Interested parties can access the live webcast on the company's Investor Relations page or dial in using the provided phone numbers. A replay will be available starting at 12:00 p.m. ET on April 27, 2022, until May 11, 2022.
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Wesbanco, Inc. (WSBC) announced a public offering of $150 million in 3.75% Fixed-to-Floating Rate Subordinated Notes due 2032. Priced at 100% of principal, the Notes will accrue interest at 3.75% until April 1, 2027, when it will shift to a floating rate. The offering is set to close on March 23, 2022, and proceeds will support general corporate purposes, including debt repayment and acquisitions. The Notes qualify as Tier 2 capital and can be redeemed after April 1, 2027. The offering is managed by Keefe, Bruyette & Woods and RBC Capital Markets.
WesBanco, Inc. (Nasdaq:WSBC) has declared a quarterly cash dividend of $0.421875 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq:WSBCP). This dividend covers the period from February 15, 2022 to May 15, 2022, and is payable on May 16, 2022, to shareholders of record as of May 1, 2022. This announcement reflects WesBanco’s commitment to providing consistent returns to its shareholders.
WesBanco, Inc. (WSBC), a multi-state bank holding company, announced that its President and CEO, Todd F. Clossin, along with CFO Daniel K. Weiss, Jr., will participate in the 26th Annual RBC Capital Markets Global Financial Institutions Virtual Conference on March 8, 2022. The event will not include a formal presentation or webcast. Founded in 1870, WesBanco operates 205 financial centers across six states and offers a comprehensive range of financial services, including trust and wealth management with $5.6 billion in assets under management as of December 31, 2021.
WesBanco, Inc. (Nasdaq: WSBC) has opened a new loan production office in the Nashville area to enhance its residential mortgage lending services. This initiative aims to foster long-term growth and strengthen local relationships. CEO Todd F. Clossin emphasized the company's dedication to community banking while adapting to new markets. WesBanco recently earned recognition from Forbes as one of America's Best Banks and Best Midsize Employers, reflecting its strong performance and commitment to employee success. Rick Trew has been appointed as the Nashville office's VP of Residential Lending.
WesBanco, Inc. (Nasdaq:WSBC) announced a new stock repurchase program authorizing the purchase of up to 3.2 million shares on the open market. This authorization complements the existing program with 0.2 million shares remaining, totaling approximately 5.4% of shares outstanding as of December 31, 2021. The program's execution will depend on market conditions and may involve various purchasing methods. The repurchase plan does not have an expiration date and may be funded through existing cash balances and available liquidity.
WesBanco, Inc. (Nasdaq:WSBC) has announced a 3.0% increase in its quarterly cash dividend to $0.34 per common share, up from $0.33. The new dividend will be paid on April 1, 2022 to shareholders of record on March 11, 2022. This marks the fifteenth dividend increase since 2010, totaling a 143% increase in that period. The annualized cash dividend rate now stands at $1.36 per share, reflecting a yield of approximately 3.8% based on a closing stock price of $35.52.
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