WesBanco Opens Commercial Loan Production Office in Fast-Growing Chattanooga Market

(Neutral)

(Very Positive)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

08/15/2023 - 08:30 AM EDT

Latest LPO advances company's strategic growth in Tennessee

WHEELING, W.Va., Aug. 15, 2023 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today that it has opened a new loan production office (LPO) to serve the commercial lending needs of the fast-growing Chattanooga, Tennessee metropolitan market. The Chattanooga LPO, WesBanco's second in Tennessee, is another step in the execution of the company's long-term, sustainable growth strategy, which includes opening LPOs in attractive major markets adjacent to its existing footprint.

WesBanco opened a successful LPO in the Nashville, Tennessee area in 2022. With the opening of the Chattanooga LPO, the company extends its commercial lending capabilities to tap opportunity in another of the state's strong growth areas. Tennessee's economy and population are among the fastest-growing in the nation, according to government agency estimates.

"We are pleased to continue to advance our strategic growth in Tennessee with the opening of a commercial loan production office in the up-and-coming Chattanooga market. The business landscape is diverse and dynamic, and we've brought on a proven team that is primed to bring WesBanco's strength, stability and lending capacity to support customers' growth needs," said Jeffrey Jackson, President and Chief Executive Officer, WesBanco. "WesBanco strives to be an integral part of the communities where we operate, and as a Chattanooga native, I look forward to seeing us grow strong roots and rewarding relationships in this vibrant region."

WesBanco's banking affiliate, WesBanco Bank, has hired a team of industry veterans with deep roots in the region to launch the LPO, develop new client relationships and drive growth across the commercial banking spectrum. Adam Thomas leads the LPO as City President and Senior Commercial Banker. He is joined by Brian Paris, Senior Vice President, Senior Commercial Banker and Team Lead; Stephen Ratterman, Senior Vice President and Commercial Banker; Michael Feher, Associate Vice President and Commercial Banker and Avery Smith, Associate Vice President and Portfolio Manager. Together, they bring decades of commercial lending experience, regional relationships and community engagement to the LPO.

"WesBanco has a long and respected legacy as a trusted financial institution and community partner, and we are thrilled to help expand its capabilities and commitment to the Chattanooga region," said Thomas. "Our goal is to be a valued financial partner to local businesses, providing them with tailored loan solutions that meet their unique needs. Through exceptional customer service and our deep understanding of the local market, we look forward to significantly impacting the business landscape in Chattanooga."

WesBanco has earned a series of accolades for soundness and profitability, customer service, employer of choice and community development, including its eighth consecutive "Outstanding" FDIC Community Reinvestment Act rating and repeated rankings on Forbes' America's Best Banks, World's Best Banks and America's Best Mid-Size Employers lists.

The Chattanooga LPO is located at 325 Cherokee Boulevard, Suite 201, Chattanooga, Tennessee 37405.

About Wesbanco, Inc.
Founded in 1870, Wesbanco, Inc. is a diversified and balanced financial services company that delivers large bank capabilities with a community bank feel. Our distinct long-term growth strategies are built upon unique sustainable advantages permitting us to span six states with meaningful market share. The company's banking subsidiary, Wesbanco Bank, Inc., operates more than 190 financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia. Built upon our 'Better Banking Pledge', our customer-centric service culture is focused on growing long-term relationships by pledging to serve all personal and business customer needs efficiently and effectively. In addition to a full range of online and mobile banking options and a full-suite of commercial products and services, the company provides trust, wealth management, securities brokerage, and private banking services through its century-old Trust and Investment Services department, with approximately $5.1 billion of assets under management (as of June 30, 2023).The company also offers insurance and brokerage services through its affiliates and subsidiaries. Learn more at www.wesbanco.com and follow us on Facebook, LinkedIn and Twitter.