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.
News and updates for WesBanco, Inc. (NASDAQ: WSBC) focus on its activities as a diversified, multi-state bank holding company in the commercial banking sector. Company press releases highlight developments across its retail and commercial banking operations, trust and investment services, capital structure, and corporate governance.
Investors following WSBC news will see regular announcements about quarterly and annual financial results, including net income, earnings per share, loan and deposit trends, and net interest margin, as described in the company’s earnings releases. WesBanco also issues notices about upcoming earnings conference calls and webcasts, providing details on how to access live and archived presentations.
Another key category of WesBanco news involves capital and dividend actions. Recent releases describe increases in the quarterly cash dividend on common stock, quarterly dividends on preferred stock series, and the redemption of preferred stock and related depositary shares. The company also reports on offerings of preferred stock depositary shares and the use of proceeds for capital management purposes.
Operational and strategic updates appear frequently in WesBanco’s news flow. Examples include expansion into new markets through commercial loan production offices and new banking centers, financial center optimization initiatives, and leadership appointments in specific regions such as Western Pennsylvania and Tennessee. The company also publicizes third‑party recognitions, such as being named one of America’s Best Regional Banks by Newsweek and earning consecutive "Outstanding" FDIC Community Reinvestment Act ratings.
By reviewing the WSBC news page, readers can track how WesBanco communicates its financial performance, growth initiatives, community focus and recognition over time. This news stream offers context for understanding the company’s strategy and operations alongside its stock performance.
WesBanco (WSBC) has announced a 2.8% increase in its quarterly cash dividend to $0.37 per common share, up from $0.36. The dividend will be paid on January 2, 2025, to shareholders of record on December 6, 2024. This marks the company's eighteenth dividend increase since 2010, representing a cumulative increase of 164%. The new annualized dividend rate is $1.48 per share, yielding approximately 4.2% based on the closing stock price of $35.26. WesBanco currently manages $18.5 billion in total assets, with $6.1 billion in assets under management and $1.9 billion in securities account values.
WesBanco (Nasdaq: WSBC) has appointed Chuck Chiatto as Western Pennsylvania Market President and Senior Commercial Banker. Chiatto, who brings over 20 years of commercial banking experience, will lead the growth of WesBanco's commercial lending business in the Western PA region, which includes 5 counties and more than 25 financial centers. He previously served as Senior Vice President at City National Bank and held positions at BB&T and Huntington Bank. Chiatto replaces Tony Rocco, who is retiring after 31 years of service. WesBanco currently manages $18.5 billion in total assets, with $6.1 billion in Trust and Investment Services assets under management.
WesBanco (WSBC) reported Q3 2024 net income of $34.7 million, or $0.54 per share, compared to $34.3 million, or $0.58 per share in Q3 2023. The company demonstrated strong growth with total loans increasing 10.0% year-over-year to $12.5 billion and deposits rising 5.7% to $13.8 billion. Key highlights include sequential quarter deposit growth of 12.1% annualized and loan growth of 6.3% annualized. Trust assets under management reached a record $6.1 billion, up 21.7% year-over-year. The company successfully raised $200 million in common equity during the quarter and maintains strong regulatory capital ratios.
Premier Financial Corp. (Nasdaq: PFC) announced its third-quarter 2024 results, highlighting a strategic merger with Wesbanco, Inc. Earnings per share (EPS) were $0.46, or $0.54 excluding transaction costs, up $0.01 and $0.09 respectively from Q2. Net income was $16.7 million, down from $24.7 million in Q3 2023. Net interest margin increased to 2.50%, while net interest income rose 1.9% sequentially but fell 7.5% year-over-year. Non-interest income was $12.6 million, up 4.1% sequentially but down 5.1% year-over-year. Non-interest expenses excluding transaction costs were $39.1 million, a slight increase from Q2 and Q3 2023. Non-performing assets rose to $82.3 million, while loan delinquencies decreased to $17.2 million. The merger is expected to close in Q1 2025, with PFC shareholders owning 30% of the combined company. A dividend of $0.31 per share was declared, payable on November 15, 2024.
WesBanco, Inc. (Nasdaq: WSBC) has announced it will host a conference call and webcast on Thursday, October 24, 2024, at 3:00 p.m. ET to review its third quarter 2024 financial results. The results are expected to be released after market close on Wednesday, October 23, 2024. President and CEO Jeffrey H. Jackson and CFO Daniel K. Weiss, Jr. will lead the call.
Interested parties can access the live webcast through WesBanco's Investor Relations website or dial in to listen. A replay will be available until November 7, 2024. WesBanco, with over 150 years of history, is a multi-state bank holding company with $18.1 billion in total assets and $5.6 billion in assets under management as of June 30, 2024.
WesBanco, Inc. (Nasdaq: WSBC) has announced a quarterly cash dividend on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq: WSBCP). The dividend covers the period from August 15, 2024, to November 15, 2024, and amounts to $0.421875 per depositary share, or $16.875 per share of Series A Preferred Stock. The dividend will be payable on November 15, 2024, to shareholders of record on November 1, 2024.
WesBanco is a diversified, multi-state bank holding company with over 150 years of experience. As of June 30, 2024, WesBanco had $18.1 billion in total assets, with Trust and Investment Services holding $5.6 billion of assets under management and securities account values of $1.8 billion through its broker/dealer.
WesBanco Bank, a subsidiary of WesBanco, Inc. (Nasdaq: WSBC), has appointed Cris Gossard as Central Ohio Market President and Senior Commercial Banker. This strategic move aims to enhance the bank's market presence and drive growth in commercial lending in the region. Gossard, who joined WesBanco in 2022, brings over 30 years of experience in commercial sales and banking. He will collaborate with leaders across various business lines to optimize local market opportunities and support customers' banking needs.
Gossard's appointment aligns with WesBanco's commitment to delivering exceptional banking services in Central Ohio. With $18.1 billion in total assets and $5.6 billion in assets under management, WesBanco continues to strengthen its position as a community-focused, regional financial services partner across its eight-state footprint.
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.