- Business
- WesBanco, Inc. (Nasdaq: WSBC) operates as a diversified multi-state bank holding company that provides a comprehensive range of retail and commercial banking services; personal and corporate trust services; brokerage and securities trading including equities, municipal bonds, government bonds, mutual funds, and annuities; wealth management and investment management with approximately $6 billion in assets under management; private banking; mortgage banking; insurance agency services covering property, casualty, life, and title insurance; and online and mobile banking solutions to individuals, businesses, and municipalities. Through its principal banking subsidiary, WesBanco Bank, Inc., the company offers deposit products such as interest- and non-interest-bearing demand deposit accounts, money market and savings accounts, and certificates of deposit; lending products including commercial and industrial loans, land and construction loans, residential real estate mortgages, consumer loans, home equity lines of credit, and overdrafts; treasury management, merchant services, retirement service programs, leasing, floor planning, letters of credit, and international wire services; as well as commercial real estate holdings and investment securities. WesBanco maintains a strong community banking focus with over 250 financial centers, branches, and loan production offices across nine states including West Virginia, Ohio, western Pennsylvania, Kentucky, southern Indiana, Maryland, Michigan, Tennessee, and Virginia, targeting consumer, commercial, and wealth management customers in the Midwest and Mid-Atlantic regions.
Founded in 1870 and headquartered in Wheeling, West Virginia, WesBanco delivers large-bank capabilities with a community-oriented approach, supported by subsidiaries such as WesBanco Insurance Services, Inc. and WesBanco Securities, Inc., and a century-old Trust and Investment Services department that also acts as investment adviser to the WesMark family of mutual funds.
In recent developments, WesBanco completed its $959 million all-stock acquisition of Premier Financial Corp. on February 28, 2025, merging Premier Bank into WesBanco Bank and adding 73 financial centers primarily in northern Ohio, southern Michigan, and northeastern Indiana to expand its contiguous footprint and achieve approximately $27 billion in total assets as the eighth-largest bank in Ohio by deposit market share. The company subsequently converted acquired Premier Bank centers to WesBanco branding by mid-2025 and appointed four former Premier directors to its board. Additionally, WesBanco priced a $230 million offering of depository shares in 2025 to redeem its 6.75% Series A preferred stock and support ongoing growth initiatives; expanded commercial operations with new loan production offices in Knoxville, Tennessee, and a financial center in Chattanooga; received its first Moody's rating; named Amby Bauer as Western Pennsylvania Market President and Richard Laws as Chief Legal Counsel; and launched products such as WesBanco One checking account with Advance Paycheck Access and WesBanco One Plus interest-earning checking.