Welcome to our dedicated page for Wesbanco news (Ticker: WSBC), a resource for investors and traders seeking the latest updates and insights on Wesbanco stock.
WesBanco, Inc. (WSBC) is a multi-state financial services provider combining community banking values with modern solutions. This page serves as the definitive source for all official company announcements, press releases, and market-related developments.
Investors and stakeholders will find timely updates on earnings reports, merger activities, leadership changes, and service expansions. Our curated news collection ensures transparent access to WSBC's strategic initiatives in retail banking, trust services, and regional market developments.
The repository includes critical updates across three key areas: financial performance disclosures, operational milestones, and regulatory filings. Each entry is categorized for efficient navigation, enabling users to track the company's progress in enhancing customer solutions and shareholder value.
Bookmark this page for streamlined access to WesBanco's evolving story. Regular visitors benefit from structured information that supports informed decision-making without promotional bias.
WesBanco, Inc. (NASDAQ: WSBC), a diversified, multi-state bank holding company, has declared a quarterly cash dividend of $0.36 per share for its common stock shareholders. The dividend will be paid on October 1, 2024, to shareholders of record on September 6, 2024. This represents an annualized cash dividend rate of $1.44 per common share.
WesBanco, with over 150 years of experience, operates across eight states, offering a comprehensive range of banking, trust, brokerage, wealth management, and insurance services. As of June 30, 2024, the company reported total assets of $18.1 billion, with Trust and Investment Services managing $5.6 billion in assets and securities account values of $1.8 billion through its broker/dealer.
WesBanco, Inc. (Nasdaq: WSBC) has been recognized as one of America's Greatest Workplaces for Parents and Families 2024 by Newsweek and Plant-A Insights Group. The company received a five-star rating, one of only seven banks to achieve this highest performance mark. WesBanco fosters a supportive workplace culture through various initiatives, including:
- Family-friendly policies prioritizing work-life balance
- Health and wellness programs
- Employee educational assistance
- Diverse and inclusive workplace culture
In WesBanco's 2023 employee engagement survey, about 90% of respondents recommended it as a great place to work. This recognition comes amid rising rates of households with two working parents and increasing working-parent burnout. WesBanco's commitment to creating a supportive environment for parents and families aligns with the growing demand for employers who offer flexibility and work-life balance.
Premier Financial Corp. (Nasdaq: PFC) has announced their second quarter 2024 financial results and a strategic merger with Wesbanco, Inc. (Nasdaq: WSBC). The merger, valued at approximately $987 million, will see PFC shareholders receive 0.80 shares of WSBC common stock for each PFC share, holding 30% of the combined company upon closure in Q1 2025.
PFC reported a Q2 2024 net income of $16.2 million, or $0.45 per diluted share, down from $48.4 million, or $1.35 per diluted share, in Q2 2023. Excluding the $32.6 million gain from the sale of First Insurance Group in Q2 2023, net income for Q2 2023 was $24.2 million. Net interest income fell 8.8% YoY to $49.3 million, and non-interest income also declined 6.5% to $12.1 million.
Non-interest expenses reduced by 6.6% YoY to $38.2 million. Credit quality issues emerged with non-performing assets rising to $64.6 million, and loan delinquencies increasing to $24.6 million. PFC's total assets at June 30, 2024, were $8.78 billion.
WesBanco (NASDAQ: WSBC) and Premier Financial Corp. (NASDAQ: PFC) have announced a transformative merger, creating a regional financial institution with over $27 billion in assets. The all-stock transaction, valued at approximately $959 million, will see Premier shareholders receive 0.80 shares of WesBanco stock for each Premier share. WesBanco has also secured $200 million in capital commitments to support the merger.
Key highlights:
- Transaction valued at $26.66 per Premier share
- Expected to be 40% accretive to 2025 earnings
- Estimated tangible book value dilution of 13% at closing
- Combined entity to become the 8th largest bank in Ohio
- Merger expected to close in Q1 2025
WesBanco (Nasdaq: WSBC) reported Q2 2024 financial results, with net income of $26.4 million and diluted EPS of $0.44, down from $42.3 million and $0.71 in Q2 2023. Key highlights include:
- Total loan growth of 10.1% year-over-year and 3.2% quarter-over-quarter
- Deposits increased 4.4% year-over-year to $13.4 billion
- Net interest margin of 2.95%, up 3 basis points sequentially
- Non-interest income of $31.4 million, down 1.5% year-over-year
- Strong regulatory capital ratios with CET 1 at 10.58%
The company maintained positive momentum with solid loan and deposit growth, while focusing on cost control and strategic investments.
WesBanco Bank has earned the America Saves Designation of Savings Excellence (DOSE) award for the ninth consecutive year, recognizing its exceptional efforts during America Saves Week. WesBanco is one of only nine banks out of 4,600 participating organizations to receive this honor. The bank's initiatives included:
1. Enrolling over 1,800 individuals in its Savers program across five states
2. Launching a partnership with Veteran Saves
3. Hosting financial literacy outreach programs
4. Implementing the Split-to-Save program for employees
During America Saves Week, participating institutions encouraged nearly $354 million in deposits and opened 231,000 new accounts. This award highlights WesBanco's commitment to financial literacy and customer empowerment.
WesBanco, Inc. (Nasdaq: WSBC) has been recognized as one of America's Greatest Workplaces for 2024 by Newsweek and Plant-A Insights Group. The company received a 4.5 out of 5-star rating, placing among fewer than 30 banks in the ranking. This recognition is based on a comprehensive survey of over 250,000 U.S. employees, covering aspects such as compensation, benefits, work-life balance, and company culture.
WesBanco's commitment to fostering a positive workplace environment is evident through various initiatives, including:
- A Diversity, Equity and Inclusion (DEI) Council
- Health and wellness programs
- Flexible work arrangements
- Talent development and succession planning
- Employee educational assistance
The company's 2023 employee engagement survey showed high satisfaction levels, with 95% of respondents finding their work fulfilling and 90% recommending WesBanco as a great place to work.
WesBanco (Nasdaq: WSBC), a diversified multi-state bank holding company, has appointed Kimberly Griffith as Senior Executive Vice President and Group Head of Human Resources and Facilities. Griffith, a longstanding WesBanco employee, previously served in an interim capacity, ensuring leadership continuity during Anthony Pietranton's leave. She will focus on advancing HR and facilities management standards, supporting talent initiatives, and enhancing employee experience. Griffith's 20+ years of HR expertise and her leadership through mergers and acquisitions have been pivotal in the company’s growth. WesBanco operates over 190 financial centers across six states with a strong emphasis on customer-centric service.
WesBanco (Nasdaq: WSBC), a diversified, multi-state bank holding company, will host a conference call on July 26, 2024, at 10:00 a.m. ET to discuss its Q2 2024 financial results. Key executives, including President & CEO Jeffrey H. Jackson and CFO Daniel K. Weiss, Jr., will review the performance. The results will be released post-market on July 25, 2024. The live webcast can be accessed through the company's website, and the call can be joined via specific phone numbers. A replay will be available until August 9, 2024. WesBanco operates over 190 financial centers across six states and manages $5.6 billion in assets as of March 31, 2024.
WesBanco (Nasdaq: WSBC) has announced a quarterly cash dividend on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq: WSBCP). The dividend is $0.421875 per depositary share or $16.875 per share of Series A Preferred Stock. This dividend covers the period from May 15, 2024, to August 15, 2024, and will be payable on August 15, 2024, to shareholders on record as of August 1, 2024.
Founded in 1870, WesBanco spans six states, operating more than 190 financial centers and offering a wide range of banking, trust, and investment services. As of March 31, 2024, it manages approximately $5.6 billion in assets.
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