WesBanco Announces Full Redemption of 6,000,000 Depositary Shares, Each Representing a 1/40th Interest in a Share of Its 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A

Rhea-AI Summary

WesBanco (NASDAQ: WSBC) will redeem all 150,000 issued shares of its 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, and all 6,000,000 related depositary shares on November 15, 2025 at a redemption price of $1,000 per preferred share ($25.00 per depositary share).

The redemptions will be funded with a portion of net proceeds from WesBanco's previously completed public offering of Series B depositary shares on September 17, 2025. Trading of the depositary shares (NASDAQ: WSBCP) will cease effective on the redemption date. The regular quarterly dividend on Series A will be paid separately to holders of record on November 1, 2025, and dividends will stop accruing after the redemption date.

Positive

• Full redemption of all 150,000 Series A preferred shares
• Redemption funded by Series B offering proceeds completed Sept 17, 2025
• Fixed redemption price of $1,000 per preferred share ($25.00 per depositary)

Negative

• Trading of depositary shares (NASDAQ: WSBCP) will cease on Nov 15, 2025
• All dividends on Series A and depositary shares will cease to accrue after redemption
• Holders must contact brokers to obtain redemption payments for beneficial interests

Insights

Capital Markets Strategist

WesBanco is redeeming Series A preferred shares on November 15, 2025 using proceeds from a recently completed Series B offering.

WesBanco will redeem all 150,000 shares of its Series A Preferred Stock (and the related 6,000,000 Depositary Shares) on November 15, 2025 for a redemption price of $1,000 per Series A share ($25.00 per Depositary Share). The company states it will fund the redemption with part of the net proceeds from its Series B depositary share offering completed on September 17, 2025; trading of the Depositary Shares will cease after the Redemption Date.

This action replaces one perpetual preferred tranche with another. The disclosed facts show the new Series B carries a 7.375% fixed rate while the redeemed Series A carried 6.75%, so the explicit financing cost on the stated coupons is higher for the replacement tranche. The redemption excludes accrued and unpaid dividends, which the firm will pay separately to holders of record on November 1, 2025.

Key dependencies and near-term risks include successful settlement of the Series B proceeds and orderly cessation of Depositary Share trading on November 15, 2025. Monitor confirmation of redemption payments from brokers or Computershare and any disclosures about use of proceeds that could change the funding source. Expect clarity on cash flows and capital structure impact within days after November 15, 2025, when the Registrars and Depositary confirm the redemption and trading suspension.

WHEELING, W.Va., Nov. 4, 2025 /PRNewswire/ -- WesBanco, Inc. (Nasdaq/NGS: WSBC) ("WesBanco") today announced that on November 15, 2025 it will redeem all of the 150,000 issued and outstanding shares of its 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock"), and all of the related 6,000,000 issued and outstanding depositary shares (the "Depositary Shares") (Nasdaq: WSBCP), each representing a 1/40th interest in a share of Series A Preferred Stock, for a redemption price of $1,000 per share of Series A Preferred Stock (or $25.00 per Depositary Share). The redemptions will be funded with a portion of the net proceeds from WesBanco's previously disclosed public offering of depositary shares, each representing a 1/40th interest in a share of its 7.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, which was completed on September 17, 2025.

The Series A Preferred Stock (and related Depositary Shares will be redeemed on the upcoming dividend payment date of November 15, 2025 (the "Redemption Date"). On and after the Redemption Date, no shares of Series A Preferred Stock or Depositary Shares will remain outstanding, and trading of the Depositary Shares on the NASDAQ Stock Market also will cease.

The regular quarterly dividend on the Series A Preferred Stock represented by the Depositary Shares will be paid separately on the Redemption Date to holders of record on November 1, 2025 for such dividend payment in the customary manner in accordance with the terms of the Series A Preferred Stock. Accordingly, the redemption price will not include any accrued and unpaid dividends. On and after the Redemption Date, all dividends on the Series A Preferred Stock and related Depositary Shares will cease to accrue.

Computershare Inc. and Computershare Trust Company, N.A., jointly, are the depositary (the "Depositary"), and Computershare Trust Company, N.A., is the transfer agent and registrar for the Series A Preferred Stock and the Depositary Shares. The Depositary's address is as follows:

First Class/Registered/Certified
Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royal Street, Suite 101
Canton, MA 02021

Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the redemption payment for the Depositary Shares in which they have a beneficial interest.

About WesBanco

With over 150 years as a community-focused, regional financial services partner, WesBanco, Inc. (NASDAQ: WSBC) and its subsidiaries build lasting prosperity through relationships and solutions that empower our customers for success in their financial journeys. Customers across our nine-state footprint choose WesBanco for the comprehensive range and personalized delivery of our retail and commercial banking solutions, as well as trust, brokerage, wealth management and insurance services, all designed to advance their financial goals. Through the strength of our teams, we leverage large bank capabilities and local focus to help make every community we serve a better place for people and businesses to thrive. Headquartered in Wheeling, West Virginia, WesBanco has $27.5 billion in total assets, with our Trust and Investment Services holding $7.7 billion of assets under management and securities account values (including annuities) of $2.6 billion through our broker/dealer, as of September 30, 2025. Learn more at www.WesBanco.com and follow @WesBanco on Facebook, LinkedIn and Instagram.

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SOURCE WesBanco, Inc.

FAQ

What is WesBanco redeeming on November 15, 2025 for WSBC shareholders?

WesBanco will redeem all 150,000 Series A preferred shares and 6,000,000 depositary shares on Nov 15, 2025.

How much will WesBanco pay per depositary share (NASDAQ: WSBCP) on redemption?

The redemption price is $25.00 per depositary share, equal to $1,000 per preferred share.

Will dividends be paid to Series A holders at redemption on November 15, 2025?

The regular quarterly dividend will be paid separately to holders of record on Nov 1, 2025; dividends cease accruing after the redemption date.

How will WesBanco fund the Series A redemption for WSBC?

The redemptions will be funded with part of the net proceeds from a Series B depositary share offering completed on Sept 17, 2025.

Will WSBCP continue to trade after the November 15, 2025 redemption?

No; trading of the depositary shares (NASDAQ: WSBCP) will cease on the redemption date, Nov 15, 2025.

How do beneficial holders of WSBCP receive their redemption payment?

Beneficial holders should contact the bank or broker through which they hold their depositary shares for redemption payment instructions.